Mikael Sjoberg | Bloomberg | Getty Images Sweden-based automaker Volvo Cars on Monday said it would cut around 3,000 jobs as part of a major cost-cutting drive. The move comes after the company, which is owned by China’s Geely Holding, announced an 18 billion Swedish kronor ($1.89 billion) cost and cash action plan late last…
Israel’s military has announced the launch of a major offensive aimed at defeating Hamas and securing the freedom of remaining hostages in Gaza. The Israeli Defense Forces said on its Hebrew X account that it had mobilised troops for “Operation Gideon’s Chariots” to seize “strategic areas” of the strip. Hamas-run civil defence and health ministry…
Israel has issued one of the most sweeping evacuation orders for civilians in Gaza yet seen in this war. Large swathes of Gaza City, an area already partially destroyed by bombing, have been declared unsafe, the residents taking shelter there told to leave for their own safety ahead of “intense strikes” by the Israel Defense…
Illustration of the China and U.S. flag on a central processing unit. Blackdovfx | Istock | Getty Images Uncertainty — that was the theme during earnings season for the world’s biggest semiconductor firms which are unclear on demand for their products as a result of changing U.S. tariff policy and export restrictions that have been…
Brazil’s Social Security Minister, Carlos Lupi, has resigned nine days after police unveiled a major corruption scandal which defrauded pensioners of $1.1bn (£829m). Federal police allege that over the past decade, the National Social Security Institute (INSS) made unauthorised deductions from payments made to millions of pensioners. The money was allegedly paid to several associations…
A security guard stands outside the building near signs advertising the International Monetary Fund/World Bank Spring Meetings in Washington, DC, on April 17, 2025. Jim Watson | AFP | Getty Images The International Monetary Fund on Tuesday downgraded its growth forecasts for major Asian economies in 2025, citing trade tensions and “high policy uncertainty.” The…
Burkina Faso’s military government has said it foiled a “major plot” to overthrow junta leader Capt Ibrahim Traoré, with the army alleging the plotters were based in neighbouring Ivory Coast. Security Minister Mahamadou Sana said the coup attempt was led by current and former soldiers working with “terrorist leaders”. The intention was to attack the…
A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York City, on April 3, 2025. Charly Triballeau | Afp | Getty Images Small-cap stocks, which were once thought to be primary beneficiaries of President Donald Trump’s policies, entered bear market territory on Thursday after a…
People crouch on the tarmac in Mandalay airport After a four-year long civil war, a severe food crisis and an economy on the decline, Myanmar now finds itself devastated by a powerful earthquake. On Friday, the 7.7 magnitude quake hit the city of Sagaing in central Myanmar, and was followed by reports of destruction coming…
British Airways crew members arrive at terminal 5 at Heathrow on March 21, 2025 in London, England. Peter Nicholls | Getty Images London’s Heathrow Airport reopened Saturday but travellers are being warned of significant delays as airlines scramble to resume flights and return stranded passengers. Europe’s busiest airport was closed for most of Friday after…
