Volvo Cars stock falls 27% amid China, U.S. slump and fresh job cuts

Volvo Cars stock falls 27% amid China, U.S. slump and fresh job cuts

Volvo Cars said on Friday it plans to cut 2,500 jobs after a sharp decline in its Chinese market hit its third-quarter profits. The Swedish automaker reported an operating loss of 5.6 billion Swedish crowns ($563.7 million) in the third quarter, down from an operating profit of 6.4 billion Swedish crowns in the previous period. … Read more

The revolution arrives in Albania

The revolution arrives in Albania

Outside the locked gates of Tirana’s Catholic Cathedral last Saturday, a riot policeman ran towards me with his club upraised to bash me on the head. When I shouted that I was English — it was not the moment for the interminable navel-gazing of current British political discourse — he wavered for a second, then … Read more

Elon Musk’s $10.5B SpaceX gift to kids has a catch: Families can’t say no — and may need to wait 5 years to cash out

Elon Musk’s $10.5B SpaceX gift to kids has a catch: Families can’t say no — and may need to wait 5 years to cash out

Nearly 70 million American children are now beneficiaries of tax-advantaged investment accounts, courtesy of President Donald Trump, with $1,000 invested in index funds for those eligible based on their date of birth and, if promises come true, individual stocks, including Elon Musk’s SpaceX. Musk declared on October 19 that he will donate $10.66 billion to … Read more

Marlon Humphrey complains about “slander” of Lamar Jackson

Marlon Humphrey complains about "slander" of Lamar Jackson

Ravens cornerback Marlon Humphrey is not happy with the way Ravens quarterback Lamar Jackson is being treated. And Humphrey said it on Thursday. “It seems like Lamar is the only quarterback [who] “He kind of gets the smear that he gets every time something happens,” Humphrey told reporters, via ESPN’s Jamison Hensley. “I feel like … Read more

Europe needs a war economy | Russia-Ukraine war

Europe needs a war economy | Russia-Ukraine war

For the past four and a half years, the war on Europe’s doorstep has haunted policymakers. However, they have treated it as an imminent threat rather than one that is already eroding the very foundations on which Europe stands. Russia’s war has devastated much of southern and eastern Ukraine, even as the front lines have … Read more