Business

German auto parts giant Continental AG is cutting around 3,000 research and development jobs in its automotive division, a move that comes as the company prepares to spin off the struggling business amid broader turmoil for the auto industry stemming from overly aggressive investment in electric vehicles. The job reductions—equivalent to about 10 percent of…

The Chinese Communist government threw a fit Tuesday after South Korea banned China’s new DeepSeek artificial intelligence (AI) on security and data privacy grounds. Beijing accused Seoul of “politicizing” technology, even though the Koreans caught DeepSeek red-handed sending the personal data of its users back to China. South Korea’s Personal Information Protection Commission (PIPC) said Monday that…

Blue Origin, the rocket company founded by Amazon’s Jeff Bezos, has announced plans to lay off 10 percent of its employees to streamline operations and improve its competitive position against Elon Musk’s SpaceX. The Seattle Times reports that Blue Origin CEO Dave Limp informed employees of the impending layoffs via email, citing the need to reduce bureaucracy and sharpen…

Elon Musk’s X has successfully drawn in new advertisers in recent months, with some big-name brands like Apple making a comeback, but the platform’s overall advertising revenue recovery remains uncertain, according to third-party data. Business Insider reports that since Elon Musk’s takeover of Twitter in 2022, the platform he renamed X has experienced a tumultuous period marked…

BMW’s conservative approach to EV adoption, investing in platforms that can accommodate internal-combustion, hybrid, and electric powertrains, is now paying off as the company navigates the uncertain transition to electric vehicles. Inside EVs reports that as the automotive industry grapples with the challenges of transitioning to electric vehicles, BMW’s strategic decision to invest in flexible platforms is…

OpenAI CEO Sam Altman has firmly rejected a $97.4 billion takeover attempt by Elon Musk, characterizing the bid as a competitive maneuver rather than a genuine acquisition offer. Speaking at the Paris AI summit, Altman suggested the move was designed to impede OpenAI’s progress rather than represent a serious purchase attempt. “I think he is…

UK retailers are being “raided like a piggy bank”, the boss of Marks & Spencer has said, as the sector faces rising taxes. Writing in the Sunday Times, Stuart Machin said retailers were facing a series of headwinds, including the increase in National Insurance Contributions (NICs) paid by firms and higher packaging levies. He called…

President Donald Trump has said he will announce a 25% import tax on all steel and aluminium entering the US, a move that will have the biggest impact in Canada. Trump also said that there would be an announcement later in the week about reciprocal tariffs on all countries that tax imports from the US,…

When Donald Trump’s fortunes took a downturn in the 90s and he needed to raise cash fast, he sailed his 282ft (85m) superyacht, the Trump Princess, to Asia hoping he could attract Japan’s wealthy. It wasn’t the first time the businessman had sought out Japanese buyers or lenders for his projects. In the cut-throat world…

Incoming first lady Melania Trump has launched a cryptocurrency on the eve of her husband’s inauguration as US president. The announcement comes after President-elect Donald Trump launched the $Trump cryptocurrency. Both coins have risen but have seen volatile trade. “The Official Melania Meme is live! You can buy $MELANIA now,” she posted on the social platform X on…