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Doloresz Katanich

Economy

France shuts down nuclear reactors as heatwave intensifies

France's state-owned energy group EDF has temporarily shut down three nuclear reactors, while seven others could be operating at reduced power. France's largest electricity producer said the move was required to comply with environmental regulations.

Business

Volkswagen lacks backing for overhaul plan with up to 100,000 job cuts

Volkswagen's proposed restructuring plan failed to win backing from the labour bloc on the company's supervisory board on Thursday, leaving uncertainty over additional job cuts and factory closures. The carmaker nevertheless laid out plans to reduce production capacity and simplify its model range.

Business

Volkswagen risks 'major conflict' with staff over cost-cutting drive

Chief Executive Oliver Blume is considering cutting 100,000 jobs worldwide, around 16% of Volkswagen's global workforce, and closing three Volkswagen plants in Germany as well as one Audi factory,

Business

Volkswagen weighs 100,000 job cuts in battle for survival

German auto giant Volkswagen's management meets Thursday to discuss plans for what could be the biggest ever restructuring in the global auto industry, with unions set to protest any mass job cuts.

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Business

Cerebras targets Europe with multibillion-dollar AI expansion

American AI chip startup Cerebras accelerates its European expansion with 200MW of AI compute capacity by the end of 2027, challenging sector behemoth Nvidia as it highlights "extraordinary" demand across the continent.

Markets

Oil jumps as Trump declares Iran ceasefire over, European stocks slide

Crude oil prices rose more than 6% to a two-week high after US President Donald Trump declared the interim accord to end the war with Iran "over", while fresh US military strikes renewed concerns about oil supplies through the Strait of Hormuz.

Business

ECB tells banks to prepare for AI-powered cyber threats

The European Central Bank has given the eurozone's largest lenders until the end of October to explain how they will strengthen their cyber defences against increasingly capable AI systems.

Business

Sky agrees to buy British broadcaster ITV for up to £1.6 billion

The two British media businesses are set to come under one roof, as ITV has agreed to sell its broadcasting and streaming business to Sky for up to £1.6bn (€1.87bn), in a deal that would create a major new competitor to global streaming platforms.

Business

EasyJet shares jump 10% as board backs Castlelake takeover proposal

The budget airline said it has reached ‘an agreement in principle’ with US investment firm Castlelake.

Business

World's largest LNG container ship enters Asia-Europe service

Europe is investing in ever larger, cleaner container ships at a time when maritime sovereignty and supply-chain resilience have become strategic priorities.

Business

Abivax rallies 36% as trial data ease safety fears over obefazimod

French biotech company Abivax said new clinical trial data supports the safety and effectiveness of its experimental ulcerative colitis treatment.

Economy

How Europe's growing need for cooling is reshaping electricity demand

Europe's June heatwave has driven up electricity demand and wholesale power prices across the continent, highlighting the growing impact of cooling needs on electricity systems.

Economy

Which jobs are most exposed to extreme heat in Europe?

Construction and agriculture are Europe's most heat-exposed industries, with transport, manufacturing and energy also facing growing disruption as climate change pushes temperatures higher.

Business

AI boom sends Xbox, Mac and iPad prices soaring

Microsoft and Apple are raising prices for Xbox consoles, Macs and iPads as the AI boom sends memory chip costs soaring, with prices increasing by up to $300 (about €265) and as much as 25%, depending on the product.

Economy

Brent crude falls below $74 for first time since Iran war began

Brent crude dropped below $74 a barrel on Wednesday for the first time since the start of the Iran war in late February, as investors continued to price out the geopolitical risk premium that had driven energy markets higher during the conflict.

Business

From $500 to $1tn: How Elon Musk built his fortune

From a video game sold for $500 (€430) as a teenager to a business empire spanning rockets, electric vehicles, AI and brain implants, Elon Musk has spent decades building companies that have reshaped multiple industries. Here's a look at the businesses behind the world's richest man.

Economy

Extreme heat in Europe: Which countries face the biggest costs?

France, Spain and Italy are among the European economies most exposed to the growing economic costs of extreme heat, which could reduce output by as much as 7% in some countries by 2030, Allianz Trade estimates.

Business

Apple CEO: Price rises ‘unavoidable’ amid AI boom

Tim Cook says Apple can no longer absorb soaring memory-chip costs driven by the artificial intelligence boom, signalling higher prices for consumers and raising concerns about broader inflation across the technology sector.

Economy

Fed keeps rates unchanged but signals possible hike this year

The Federal Reserve left interest rates unchanged at its first policy meeting under chair Kevin Warsh, but nearly half of policymakers signalled they could support a rate hike later this year as inflation remains elevated.

Business

BMW warns of ‘significant’ profit decline as shares fall 7%

The German luxury carmaker lowered its profit outlook for 2026 as sales slump in China and the conflict in the Middle East weighs on energy prices and consumer confidence.

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