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Volkswagen has presented a restructuring plan that will cut model lines by up to half and reduce production capacity to about 9 million vehicles a year. Chief executive Oliver Blume has said the group faces a 20% cost disadvantage to rivals and has proposed a "theoretical" further 50,000 job reductions on top of earlier cuts, prompting union protests and board resistance.
Ofgem has proposed refundable upfront deposits between £237,500 and £712,500 per megawatt for projects seeking grid connections, to stop speculative data‑centre schemes clogging the queue. The regulator has opened a consultation to force applicants to hit hard milestones or lose their place as Britain faces connection requests vastly above peak demand.
Trump Media & Technology has unveiled Truth API, a paid low‑latency feed that will deliver real‑time posts from the platform’s top 10 accounts from Aug. 1. Executives discussed charging institutional customers up to $100,000 a month (or $60,000 on three‑year deals). Lawmakers, regulators and market participants have warned it will let traders profit from presidential posts and raise conflict‑of‑interest and market‑manipulation concerns.
Meteorological agencies and the UN have reported a very strong El Niño that has continued to intensify in August 2026. Forecasts show record-warm Pacific sea-surface temperatures, rising global heat and an elevated risk of droughts, floods and food insecurity that will push tens of millions more people into acute hunger this year and next.
Ousted Bangladeshi premier Sheikh Hasina has said she will return to Bangladesh, insisting she must answer to her people. Speaking via videolink from New Delhi on the second anniversary of the 2024 uprising, she has pledged to confront the charges against her while Bangladesh seeks extradition and India says the request is under review. A memorial museum marks the uprising as Dhaka and New Delhi navigate a fragile reengagement.
A federal judge has paused an order that would have forced the Donald J. Trump Revocable Trust to hand over detailed financial records to the BBC in a $10bn defamation suit. The stay will last while the court considers Trump’s request to amend his complaint to focus on personal reputational harm rather than business damages.
The Federal Reserve has kept the benchmark rate steady in a nine-to-three vote, amid persistent inflation above the 2% goal. Dissenters argue for earlier tightening, while others urge patience; investors await July inflation data to gauge the path for policy.
Rheinmetall has revised its revenue guidance for 2026 to as low as €13.7 billion, down from €14.0 billion, while maintaining its operating margin. The company reports a 39% rise in first-half sales and a 74% jump in profits, with new naval division contributing to growth; investors weigh valuations amid strong orders and potential shifts in government spending.
Ben Gurion Airport remains disrupted as staffing shortages and a wildcat strike have delayed check-in, baggage handling, and flights. Officials and unions clash over causes, while authorities pledge increased staffing for the Jewish holidays amid ongoing investigations and political fallout.
Syria has signed a memorandum with Russia that will hand civilian control of Hmeimim airport and Tartus’ commercial berth to Damascus and convert military areas at both sites into joint Russian–Syrian training centres. The agreement follows 18 months of talks, sets a three‑month transition and preserves Russian access for naval and air transit duties.
A powerful earthquake has struck western Colombia near San José del Palmar, Chocó. The USGS has measured magnitude 7.4 while Colombia's geological service initially reported 6.6. The quake has caused building collapses across Pereira, Cali, Quibdó and Manizales, killed dozens, injured many and forced large-scale evacuations and search operations.
Mark Zuckerberg has published a manifesto arguing AI should be widely accessible and accompanied by personal AI agents. Meta launches Muse Glimmer, a downloadable AI model, and outlines safeguards and privacy protections while signaling a shift toward distributed power and entrepreneurial opportunity. The piece synthesizes perspectives from other tech leaders and frames the debate around control, jobs, and governance.
Bloomberg reports Warner Bros. shares have risen in recent sessions, narrowing the gap to Paramount’s $31 offer to about $3 after a rebound from a July spread that peaked above $5 amid state antitrust actions.
The Times of Israel reports Team8 has secured a fresh funding round led by global investors, expanding its assets to nearly $2 billion. The third venture fund will invest in Israeli-founded AI startups across cybersecurity, software infrastructure, fintech and digital health, with additional dollars allocated to follow-on investments.
Bloomberg reports that Cooper, host of Call Her Daddy, is navigating employee turnover, a slipping slate of shows and internal discord with husband and co-CEO Matt Kaplan, as the company restructures to stabilize operations.
Two unvaccinated residents in Pennsylvania have died from measles, triggering a public health debate. Governor Shapiro says vaccinations could have averted the deaths, while RFK Jr. questions the figures, fueling a political row that experts warn could hinder responses to the outbreak.
The FDA has approved daraxonrasib (Rasonque), a once-daily pill from Revolution Medicines, for adults with metastatic pancreatic cancer who have received prior therapy or cannot take combination chemotherapy. A 500‑patient trial has shown median survival of 13.2 months versus 6.7 months for chemotherapy; a 30‑day supply will cost about $39,800 and expanded access has already treated thousands.
Eli Lilly has agreed to acquire privately held Merida Biosciences for up to $2.88 billion in cash. Merida develops treatments targeting auto-antibodies for autoimmune diseases, with MER511 in early-stage trials for Graves’ disease and thyroid eye disease. The deal expands Lilly’s immunology pipeline amid strong demand for obesity drugs.
South Korea has refused US pressure to deploy combat forces to the Strait of Hormuz and has said it will not send troops into the US-Iran war. Seoul has told Washington it will consider limited, non‑combat contributions to protect shipping while negotiations continue over a $350bn investment package and alliance tensions persist.
Associated British Foods says Primark has acquired a Sheffield warehouse and will offer home delivery in Great Britain in the future, expanding beyond its established click-and-collect model. Primark sales are dipping year-on-year, with UK performance modestly positive while continental Europe weakens. A demerger plan to list Primark separately is targeted for end-2027.
A Grizzly Research report has questioned Raiffeisen Bank International's compliance and role in Russia, triggering a corrective response from RBI and a slide in RBI shares. Bloomberg and The Moscow Times report RBI denying ties to sanctions circumvention and reaffirming compliance.
The Kremlin has moved to place the Russian operations of Nestlé, Auchan, Lemana Pro and other Western companies under temporary external administration, using a 2023 law to control assets from unfriendly countries. The move follows similar seizures in 2023-24 and is part of a broader push to curb Western influence and raise state oversight of strategic assets.