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Green light for Cadillac to join Formula One grid in 2026
American car manufacturer Cadillac will become the eleventh team on the Formula One grid in 2026 after the sport's owners announced Monday they had given their backing to the plan. Nearly a fortnight ago, GM announced it had registered with the FIA to become a Formula One engine manufacturer from 2028, offering support to Andretti's bid to join the F1 grid.
California vows to step in if Trump kills US EV tax credit
California will revive its own subsidy programs for electric vehicles if Donald Trump guts US federal tax breaks for such cars, the state's governor said Monday. If Trump scraps the tax credit, California could revive its own Clean Vehicle Rebate Project, which ran until November 2023, granting rebates of up to $7,500 for people buying battery-powered cars, a press release said.
Brazil minister says supports meat supplier 'boycott' of Carrefour
Brazil's agriculture minister on Monday threw his support behind national meat suppliers that have halted deliveries to Carrefour supermarkets in a growing row related to Mercosur trade negotiations. Brazilian media are calling the disrupted meat deliveries to Carrefour supermarkets a "boycott" and many Brazilians online have applauded it.
Steelmaker ArcelorMittal to close two plants in France: unions
ArcelorMittal, the world's second-biggest steelmaker, plans to close two plants in northern France, which together employ more than 130 people, unions said on Monday. ArcelorMittal is the latest company to announce plans to cut jobs and close plants in France, which is struggling with economic headwinds.
Macy's says employee hid up to $154 mn in costs over 3 years
Macy's disclosed Monday that an employee had hidden up to $154 million in expenses through false accounting entries over more than three years.
EU grocery shoppers 'fooled' by 'maze' of food labels: audit
European grocery shoppers are at risk of "being fooled" by a proliferation of confusing and sometimes misleading food labels, EU auditors said Monday, calling on the bloc to improve current rules.
Awaiting Commerzbank, Italy's UniCredit bids for Italian rival
With its plans for Germany's Commerzbank seemingly stalled, UniCredit, Italy's second-largest lender, launched Monday a bid to buy its rival BPM for 10.1 billion euros ($10.6 billion). UniCredit surprised markets and Berlin in September when it announced it had built a significant stake in Commerzbank, Germany's second-largest lender, fuelling speculation of a takeover bid.
British business group hits out at Labour's tax hikes
British business lobby group, the CBI, on Monday hit out over the Labour government's tax hikes on firms, saying the "heavy burden" risked cuts to hiring and investment. The CBI cancelled last year's annual conference after being caught up by allegations of sexual misconduct at the lobby group.
DHL cargo plane crashes in Lithuania, killing one
A DHL cargo plane crashed early Monday near the airport in Lithuania's capital, killing one person, authorities said as they searched for clues to what caused the tragedy. It was not immediately clear what caused the crash.
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