Chinese-owned luxury carmaker Lotus said Thursday that it planned to cut up to 550 UK jobs, in part over uncertainty caused by US President Donald Trump's tariffs. The carmaker, which is majority owned by Chinese auto giant Geely, has several sites in the UK, including its headquarters in Hethel, eastern England.
Italy's competition watchdog said Thursday it had opened an investigation into UK online bank Revolut over "misleading" messages to customers about its investment services. The Competition and Market Authority (ACGM) also alleged that the bank employed "aggressive ways" of handling banking services.
Many banks are exploring talks about mergers in a bid to meet the recapitalisation target. Six banks are still left at the negotiation table talking to investors.
The EU unveiled on Thursday long-delayed recommendations to rein in the most advanced AI models such as OpenAI's ChatGPT and help companies comply with the bloc's sweeping new law. Under the law, developers of such models must give details about what content they used -- like text or images -- to train their systems and comply with EU copyright law.
The Nigerian currency, the naira, gained N9 on Wednesday, July 9, 2025, after a brief loss the previous day to close trading at N1,520 from N1,529 per dollar.
The US Secretary of Agriculture has announced ports will be closed to the livestock trade at the southern border after Mexican cattle tested positive for the flesh-eating New World screwworm (NWS). "We must see additional progress combatting NWS in Veracruz and other nearby Mexican states in order to reopen livestock ports along the Southern border," the official said.
In the basement of a Jakarta housing complex, surrounded by the silver piping of the air-conditioning system, Indonesian technician Ari Sobaruddin is doing his part to tackle climate change.
Donald Trump's insistence that "spoiled" Japan imports more US rice is adding to Prime Minister Shigeru Ishiba's problems ahead of elections that could sink his premiership after less than a year in office. - No sacrifice - As a result, Ishiba's government has been at pains to say it won't bend on the issue -- although this may change after the election.
Asian markets mostly rose Thursday on optimism that governments will hammer out deals to avoid the worst of US President Donald Trump's tariffs even after he broadened his range of measures. The US president also said this week he would put a 50 percent tariff on copper imports, while considering a 200 percent charge for pharmaceuticals.
Nvidia became the first company to touch $4 trillion in market value on Wednesday, a new milestone in Wall Street's bet that artificial intelligence will transform the economy. Shortly after the stock market opened, Nvidia vaulted as high as $164.42, giving it a valuation above $4 trillion.
Economy
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