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Eleanor Butler

Business

Microsoft deal brings OpenAI closer to becoming a for-profit firm

OpenAI is hoping to restructure itself into a for-profit company, although the move still requires approval from regulators in California and Delaware.

Markets

Warner Bros Discovery shares surge on Paramount Skydance buyout report

The report comes just weeks after the merger between movie giant Paramount and independent film studio Skydance Media.

Economy

Mexico to place 50% tariff on Chinese cars after US lobbying

The announcement comes as Washington places pressure on President Claudia Sheinbaum to crack down on Chinese industry in Mexico.

Business

Novo Nordisk to cut 9,000 jobs as Eli Lilly competition intensifies

The pharmaceutical giant will axe over 11% of its global workforce as rival Eli Lilly gathers market share in the obesity drug market.

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Markets

Anglo American stock rises 9% after merger deal with Teck Resources

The tie-up is set to be the biggest mining sector merger in over a decade.

Business

Chip giant ASML invests €1.3bn in French AI champion Mistral

The Dutch firm will become the largest shareholder in Mistral, with 11% ownership.

Business

US restricts TSMC chip supply shipments to China as tech race heats up

The Trump administration is revoking TSMC’s licence to ship products freely from the US to China, effective on 31 December.

Economy

Trump threatens tariffs on nations imposing digital taxes on US tech

The president said the taxes against US firms “give a complete pass to China’s largest tech companies”.

Business

Keurig Dr Pepper to buy European coffee firm JDE Peet’s in €16bn deal

As part of the deal strategy, the companies will break up their coffee and soft-drinks units.

Economy

Germany’s GDP contraction worse than expected after tariff boost

The economy had seen a slight uptick at the start of this year as businesses sought to get ahead of tariffs, but the country has now slipped back into contraction territory.

Business

Mediobanca shareholders reject bid to acquire Banca Generali

The rejection could threaten Mediobanca’s independence as the Milanese lender seeks to fend off a takeover by Italian competitor MPS.

Markets

Pop Mart shares rise 12% as Labubu maker announces new mini doll

The firm announced the launch of a new Labubu doll as the furry elf toys continue to take the world by storm.

Economy

UK job vacancies fall at a slower pace while wage growth holds steady

Payrolled employment decreased by 8,000 in July compared with June, the smallest decline since a modest rise in January.

Business

Chipmakers Nvidia and AMD to pay 15% of China revenue to US government

The unprecedented deal is part of a bargain to secure US export licenses for the Chinese market.

Markets

Gold futures rise after report Trump has placed tariffs on gold bars

The futures reached a record high on Friday after the US reportedly placed tariffs on imports of one-kilo gold bars.

Business

Trump declares 100% computer chip tariff unless firms build in the US

The announcement comes more than three months after Trump temporarily exempted most electronics from his administration's most onerous tariffs.

Business

BP launches cost-cutting scheme despite beating profit expectations

The business review comes just a few months after BP said it would save $4bn to $5bn by the end of 2027, relative to 2023 costs.

Business

Europe’s M&A market is alive and kicking - in spite of the odds

Geopolitical unrest and trade uncertainty are complicating mergers and acquisitions (M&A). Despite the volatility, battle-hardened executives are pushing ahead with dealmaking.

Business

Rheinmetall secures €770mn order from German army amid defence boom

The deal for more than 1,000 logistics vehicles comes as Europe ramps up military spending in response to global tensions.

Business

Italy hands fast fashion retailer Shein €1 million greenwashing fine

The decision comes after France fined the retailer €40m in July over fake discounts and misleading environmental claims.

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