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Companies & CEOs

IKEA to lower prices on hundreds of products in Europe

IKEA to lower prices on hundreds of products in Europe
Swedish IKEA plans to reduce prices on numerous items across Europe to enhance affordability for customers dealing with increasing living expenses. IKEA announced that these price cuts will lead to a total expense of €1.2 billion. "These...

Eli Lilly to acquire biotech Merida Biosciences for $2.9 billion

Eli Lilly to acquire biotech Merida Biosciences for $2.9 billion
Eli Lilly & Co., a pharmaceutical firm, intends to purchase biotech Merida Biosciences, known for creating therapies for autoimmune and allergic conditions, according to a company statement reported by Bloomberg. Eli Lilly is set to pay as much...

General Motors to invest $791 million in car plants in Canada

General Motors to invest $791 million in car plants in Canada
The union for General Motors Canada (Unifor) has ratified a deal to manufacture a new heavy-duty truck at a facility in Ontario, according to Reuters. The agency reported that Unifor members voted in favor of the contract on Sunday. GM's investment...

DeepSeek raises funding round at $74 billion valuation

DeepSeek raises funding round at $74 billion valuation
Chinese AI model creator DeepSeek is nearing the end of a funding round with a pre-money valuation estimated at around 500 billion yuan ($74 billion), as reported by the South China Morning Post and The Wall Street Journal, referring to sources...
Markets & Industries

FT: Major US banks demand law firms lower fees due to AI

FT: Major US banks demand law firms lower fees due to AI
Top financial institutions in the US are urging prominent law firms to reduce their charges. According to the Financial Times, citing banking industry sources, banks are convinced that the business model that has benefited law firms for years is no...

Profits of the largest companies grows by $160 billion due to investments in AI firms

Profits of the largest companies grows by $160 billion due to investments in AI firms
According to the Financial Times, utilizing data from issuer financial statements, the largest tech companies generated more than $160 billion in the second quarter of 2026 from investments in firms related to artificial intelligence. Alphabet,...

Von der Leyen proposes using European savings to develop EU economy

Von der Leyen proposes using European savings to develop EU economy
European Commission President Ursula von der Leyen suggested utilizing European savings to boost the EU economy. She stated that Europe possesses savings that are "sitting unused." "Currently, €10 trillion in personal savings is resting in bank...

Revolut launches Euro-pegged stablecoin

Revolut launches Euro-pegged stablecoin
British fintech company Revolut has introduced the euro-pegged stablecoin EURR, according to a statement from the company cited by Bloomberg. EURR is issued by Bridge, a division of the US-based company Stripe. Bridge will additionally own and...
In-depth coverage

European Tech Sovereignty: Europe Enters the Era of Exascale with the Inauguration of the Jupiter Supercomputer

Europe has taken a giant leap in technological development and supercomputing sovereignty with the launch of its first exascale computer in Germany. JUPITER, built using American chips but set to develop further with the integration of European microprocessors in 2026, is capable of performing over one quintillion (10¹⁸) operations per second, immediately cementing its place as Europe’s mos...
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World & Politics

G20 countries fail to agree on joint communiqué over China

G20 countries fail to agree on joint communiqué over China
According to US Treasury Secretary Scott Bessent, China was the sole G20 member that rejected all the aspects of the joint communiqué created after the gathering of G20 finance ministers and central bank governors. "I was looking forward to...

Transit through the Strait of Hormuz drops to five ships per day

Transit through the Strait of Hormuz drops to five ships per day
Al Jazeera reported, referencing shipping data, that the daily count of ships transporting cargo through the Strait of Hormuz fell to five over the weekend. Nonetheless, the true count of vessels passing through the strait could be greater, as...

Nepal's flood death toll exceeds 900

Nepal's flood death toll exceeds 900
According to a report published on Monday by the National Disaster Risk Reduction and Management Authority, the death toll from the floods in Nepal last Wednesday has reached 903. Sections of the report were released by EFE. The agency reports a...

Number of billionaires worldwide reaches record 3,800 people

Number of billionaires worldwide reaches record 3,800 people
According to the Altrata Billionaire Census study, the number of billionaires globally rose by 8.2% in 2025, reaching an all-time high of 3,795. The United States, which hosts nearly one-third of the world's billionaires—1,265—ranked first by a...
Management & Strategy

Ackman to donate 10 million Pershing Square shares to Brain Institute

Ackman to donate 10 million Pershing Square shares to Brain Institute
Billionaire Bill Ackman and his spouse, Neri Oxman, plan to give 10 million shares of the hedge fund Pershing Square to support the brain research center he established in New York, according to Bloomberg, referencing a social media update from...

The Porsche family demands swift restructuring of Volkswagen

The Porsche family demands swift restructuring of Volkswagen
Porsche Automobil Holding (Porsche SE), the holding company overseen by the Porsche family and owning 53% of the voting shares in the Volkswagen Group (VW), has insisted that the automaker implement a prompt restructuring. Porsche SE CEO Hans Dieter...

Intel plans job cuts in data center division

Intel plans job cuts in data center division
Intel Corp., a top manufacturer of computer components globally, is reportedly planning another wave of layoffs, according to CNBC, referencing a company representative. Intel has reduced around 5,000 jobs in the U.S., mainly in California and...

British authorities will oblige banks to train employees in AI

British authorities will oblige banks to train employees in AI
The UK Treasury is developing a "skills compact" that will mandate the top banks in the country to reskill their workforce to handle the "artificial intelligence revolution." The Guardian reports that new guidelines from the Treasury might be...