Author: Grace Johnson

Elon Musk, already the world’s wealthiest individual, may become the first trillionaire. Tesla’s board has proposed a historic compensation package to keep him focused as the company faces growing competition and market pressures. The plan follows Musk’s previous package, which many doubted but Tesla exceeded ahead of schedule. The board now aims to push him toward even greater growth. Stock rewards tied to ambitious goals Musk could receive 423.7 million additional Tesla shares, valued at $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…

Jaguar Land Rover has told employees to stay home until Tuesday as it deals with the aftermath of a cyber attack. The weekend breach forced the company to shut down critical IT systems. That step disrupted both car production and sales. Factories in Halewood, Solihull, and Wolverhampton remain closed. Managers warn the shutdown could last longer as the situation is reviewed. production and sales under pressure Car sales have been heavily disrupted, though some deals still went through, according to sources close to the matter. Jaguar Land Rover, owned by India’s Tata Motors, switched off systems on Sunday to limit…

Donald Trump has asked the US Supreme Court to protect his tariff measures. He wants the justices to overturn a ruling that declared his wide-ranging trade duties illegal. Clash over presidential authority The administration filed its petition on Wednesday night. It urges the court to decide quickly 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 has the power to set import duties. Billions at stake The case could disrupt Trump’s trade and foreign policy agenda. It could also force the US to refund billions…

The US government’s antitrust case against Google has drawn global scrutiny. Not since Microsoft faced trial in 1998 has Big Tech confronted such pressure. One year after Judge Amit Mehta declared Google a monopolist, he introduced remedies that some critics call weak, while others see as potentially significant. Chrome and Android remain untouched During the remedies phase, many anticipated 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 intact. “These products built…

Gold has surged to its highest level ever as global uncertainty drives demand for security. On Tuesday morning, the spot price reached $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 when markets face instability. Earlier this year, prices spiked after President Donald Trump imposed 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, boosting gold’s appeal further. Adrian Ash, research director at BullionVault, said Trump’s policies…

Shares of Chinese electric vehicle maker BYD fell by as much as 8% on Monday. The decline followed weaker profits, pressured by fierce competition and aggressive discounting in the market. Quarterly earnings take a hit On Friday, BYD reported net profit of 6.4bn yuan ($900m; £660m) for April to June. That represented a 30% drop compared with the same period last year. The company said escalating price competition among EV brands had weighed heavily on results. Rivals push prices lower The Shenzhen-based automaker faces rising pressure from Nio, XPeng, and Tesla. All have slashed prices to attract buyers. BYD shares…

Beer drinking in Germany is falling, while alcohol-free varieties are gaining popularity. The federal statistics office reports that sales of alcohol-free beer have grown by 109 percent since 2013. Meanwhile, overall beer sales are at their lowest level in more than 30 years. For the first time, total sales dropped below four billion liters in a six-month 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 respond to changing tastes The Erdinger brewery near Munich has produced…

A US appeals court has ruled that most tariffs imposed by Donald Trump are illegal. The decision delivers a major setback to his trade agenda and sets up a likely Supreme Court review. The ruling cancels Trump’s “reciprocal” tariffs on dozens of nations. It also nullifies levies targeting China, Mexico and Canada. Court confirms 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 argument that the International Emergency Economic Powers Act gave him authority. They emphasized that only Congress has the constitutional…

The United States has ended a long-standing tariff exemption that allowed imports under $800 to enter duty-free. Starting Friday, small parcels will face stricter customs checks and tariffs, affecting millions of shipments daily. In 2023, about 1.4 billion packages valued over $64bn arrived in the US under this rule, according to customs data. Experts warn the change will push up prices, reduce options for consumers, and challenge small businesses. Katherine Theobalds, founder of Buenos Aires shoe brand Zou Xou, said: “It might be the end for us.” De minimis and its role in trade The de minimis exemption began in…

Nvidia has posted record revenue as artificial intelligence drives strong demand, even while international tensions create uncertainty for the company. On Wednesday, the Santa Clara-based chipmaker reported $46.7bn (£34.6bn) in second-quarter revenue, a 56% increase from the same period in 2024. Shares dipped in after-hours trading after executives admitted the company was still “working through geopolitical issues.” Nvidia remains caught in the ongoing trade dispute between Washington and Beijing. Frequent US policy changes under the Trump administration, aimed at maintaining American leadership in artificial intelligence, add further risk to the company’s outlook. Tech giants power AI growth Nvidia’s processors have…