Iran missile attack on US forces sends oil surging 6%
Iran's Islamic Revolutionary Guard Corps launched ballistic missiles at American forces on Wednesday, shattering a brief pause in hostilities and driving crude oil prices sharply higher.
Economy
Economy
IMF cuts global growth outlook as trade uncertainty bites
The International Monetary Fund projects world economic growth at 3.0 percent in 2025 and 3.1 percent in 2026, a modest recovery from April's gloomier forecast but still well below pre-pandemic norms. Tariffs, fragmentation, and threats to central bank independence remain the Fund's chief concerns.
Economy
ASML nears $700bn as AI chip boom puts trillion-dollar milestone in sight
The Dutch semiconductor equipment maker has doubled in value within a year, fuelled by surging AI-driven demand for its irreplaceable chip-printing machines. Analysts say a $1 trillion valuation is now a realistic, if not certain, prospect.
Economy
Volkswagen plans to cut 100,000 jobs and close four German plants
Germany's Manager Magazin reports CEO Oliver Blume is preparing the most radical restructuring in Volkswagen's 89-year history, targeting up to 15% of the global workforce. The plans, which Volkswagen has neither confirmed nor denied, would double a previous round of cuts agreed only months ago.