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Battery maker Northvolt to cut jobs, slash operations
Beleaguered Swedish electric car battery maker Northvolt said Monday it would cut its workforce as it scales back operations to focus on its main gigafactory in Sweden.
First step for Europe's hyperloop vehicles with test launch
The dream of hurtling between European cities at speeds of more than 700 kilometres per hour moved a step closer Monday with the first successful vehicle tests at the European Hyperloop Centre. Hardt Hyperloop hopes to start testing the lane switch soon with vehicles and eventually build a bigger centre to enable the pod to reach the dizzying speeds possible.
China's Hellobike looks to say hello to Europe
Chinese bicycle-sharing giant Hellobike plans to expand to Europe, its management said Monday, with its point of entry likely to be Paris. Hellobike also plans to submit bids in other French cities as well as Barcelona and Sevilla in Spain.
Europe needs 'unprecedented' investment surge, says key report
Europe must massively ramp up investment including through joint borrowing as part of a "new industrial strategy" to keep pace with the United States and avoid dependence on China, a keenly awaited report warned Monday.
ECB to deliver fresh rate cut as inflation cools
The European Central Bank is expected to cut interest rates again this week as inflation drifts back down towards its two-percent target, but policymakers will likely stay tight-lipped on future moves. The central bank has in recent times insisted it will not foreshadow its future moves, and will rely solely on incoming data.
Asian markets tumble as US jobs data stoke recession fears
Asian markets tumbled Monday after another batch of worse-than-expected US jobs data revived fears about a possible recession in the world's top economy. "The current batch of data no longer requires patience, it requires action," he warned, while adding that he did not think the economy was in recession or headed for one.
China consumer prices edge up to six-month high in August
Chinese consumer inflation ticked up slightly in August to a six-month high, official data showed Monday, but the reading missed expectations and did little to soothe worries about sluggish spending in the world's number two economy.
Apple AI expected to star as new iPhones are unveiled
Apple is expected to release its latest line of iPhones on Monday that will feature generative AI capabilities as the tech behemoth looks to bolster sales of its iconic device. By adding AI capabilities, Apple is looking to "shake that expectation" that iPhone launches are "just steady improvements in hardware and software," said Techsponential analyst Avi Greengart.
US takes on Google's ad tech empire in antitrust trial
Google faces its second major antitrust trial in less than a year on Monday, with the US government accusing the tech giant of dominating online advertising and stifling competition. Her decision on whether Google has broken antitrust law will come months after the trial.
AFP
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