Author: Grace Johnson

Elon Musk, already the world’s richest person, could become the first trillionaire. Tesla’s board unveiled a record-setting pay package to keep him focused amid growing competition and market challenges. The plan builds on Musk’s previous package, which many doubted but Tesla exceeded ahead of schedule. The board now hopes to push him toward even greater growth. Stock rewards tied to unprecedented goals Musk could receive 423.7 million additional Tesla shares, worth $143.5 billion today. He will earn them only if Tesla reaches an $8.5 trillion market capitalization. That figure is nearly eight times Tesla’s current $1.1 trillion valuation. If realized,…

Jaguar Land Rover has told staff to stay home until Tuesday as it manages the fallout from a cyber attack. The weekend breach forced the automaker to shut down critical IT systems. That move disrupted both car production and sales. Factories in Halewood, Solihull, and Wolverhampton remain closed. Managers warn the shutdown could continue while the situation is assessed. production and sales under pressure Car sales have been heavily affected, though some transactions still went through, according to people familiar with the situation. Jaguar Land Rover, owned by India’s Tata Motors, turned off systems on Sunday to reduce potential damage.…

Donald Trump has asked the US Supreme Court to step in and protect his tariff program. He wants the justices to overturn a ruling that struck down his wide-ranging trade duties as unlawful. Question of presidential power The administration filed its petition on Wednesday night. It urges the court to quickly decide whether a president can impose tariffs without Congress. Last week, the Federal Circuit Court of Appeals ruled 7-4 against Trump. Judges said only Congress holds the authority to set import duties. Billions in potential refunds The case could disrupt Trump’s trade and foreign policy agenda. It may also…

The US government’s antitrust case against Google has drawn global attention. Not since Microsoft faced trial in 1998 has Big Tech faced such scrutiny. One year after Judge Amit Mehta declared Google a monopolist, he unveiled remedies that some critics call weak, while others see as potentially meaningful. Chrome and Android remain intact During the remedies phase, many expected a breakup. Judge Mehta rejected calls to spin off Chrome, the world’s most popular browser. The Justice Department also sought oversight of Android to prevent Google from reinforcing its dominance in search and advertising. Both platforms remained untouched. “These platforms built…

Gold has surged to its highest level ever as global uncertainty drives demand for secure assets. On Tuesday morning, the spot price climbed to $3,508.50 per ounce. The rally has lifted the metal by nearly a third since the start of the year. Trade tensions fuel rally Gold usually gains value when markets face instability. Earlier this year, its price jumped after President Donald Trump introduced sweeping tariffs. The measures disrupted global trade and encouraged investors to seek safer assets. Analysts also expect the US central bank to cut interest rates, further boosting gold’s appeal. Adrian Ash, research director at…

Shares of Chinese electric vehicle maker BYD fell by up to 8% on Monday. The decline followed weaker profits, driven by an escalating battle over prices in the competitive EV market. Quarterly profits under pressure On Friday, BYD reported net profit of 6.4bn yuan ($900m; £660m) for April to June. That marked a 30% decline compared with the same period last year. The company said intense price competition among EV makers had weighed heavily on results. Rivals push prices lower The Shenzhen-based automaker faces stiff competition from Nio, XPeng, and Tesla. All have cut prices sharply to attract buyers. BYD…

Beer drinking in Germany is declining, while alcohol-free varieties are seeing record growth. The federal statistics office reports sales of alcohol-free beer have risen by 109 percent since 2013. At the same time, overall beer sales are at their lowest level in more than 30 years. For the first time, total sales fell below four billion liters in a half-year period. Between January and June 2025, German breweries sold around 3.9 billion liters. That represents a decline of 6.3 percent, or 262 million liters, compared with the same period in 2024. breweries adapt to changing habits The Erdinger brewery near…

A US appeals court has struck down most tariffs imposed by Donald Trump. The decision represents a major defeat for his trade agenda and points to a potential Supreme Court showdown. The ruling cancels Trump’s “reciprocal” tariffs on dozens of countries. It also invalidates levies on China, Mexico and Canada. Court emphasizes Congress controls tariffs In a 7-4 decision, the US Court of Appeals for the Federal Circuit declared the tariffs “invalid as contrary to law”. Judges rejected Trump’s claim that the International Emergency Economic Powers Act granted him authority. They stressed that Congress has the exclusive power to impose…

The United States has scrapped a decades-old tariff exemption that let imports under $800 enter duty-free, shaking e-commerce worldwide. From Friday, small parcels must clear customs and pay tariffs, affecting millions of shipments every day. In 2023, nearly 1.4 billion packages valued at over $64bn entered the US under the de minimis exemption, according to customs data. Analysts warn higher prices, fewer choices, and tougher conditions for small businesses. Katherine Theobalds, founder of Buenos Aires shoe brand Zou Xou, said: “It might be the end for us.” The de minimis exemption and its impact The de minimis rule began in…

Nvidia has posted record revenue as global demand for artificial intelligence accelerates, even amid rising geopolitical tensions. On Wednesday, the Santa Clara-based chipmaker reported $46.7bn (£34.6bn) in second-quarter revenue, a 56% increase compared with the same period in 2024. Shares fell in after-hours trading after executives acknowledged the company was still “working through geopolitical issues.” Nvidia remains entangled in trade tensions between Washington and Beijing. Rapid policy changes under the Trump administration, aimed at protecting US leadership in artificial intelligence, add further uncertainty to the company’s outlook. Tech giants drive AI surge Nvidia’s processors have become essential to powering the…