Polestar is set to replace its long-serving CEO, Thomas Ingenlath, with Michael Lohscheller, a seasoned automotive executive with experience leading Opel, VinFast, and Nikola. This leadership change comes as Polestar strives to address ongoing challenges, including delayed model launches, missed delivery targets, and a gradual separation from its co-founder, Volvo...

Wages for Japanese workers in their 40s and 50s rose slightly in the second quarter, providing a much-needed boost for the so-called "lost generation"—those who entered the workforce during the hiring freeze of the 1990s and 2000s and have faced stagnant pay for decades. This wage increase is crucial for...

International credit rating agency Fitch Ratings has cautioned that the ongoing Mpox outbreak could negatively impact the economies of African countries and strain their fiscal positions. In a commentary released on Wednesday, Fitch highlighted that an escalation in the spread of Mpox in sub-Saharan Africa could increase the likelihood of...

In 1975, Zhou Enlai, the first premier of the People’s Republic of China, proudly declared in his final public address that the country was debt-free, boasting a balanced budget amidst global economic instability. Nearly 50 years later, while China’s central government debt remains modest at around 24% of GDP, local...

Germany’s economy shrank by 0.1% in the second quarter of 2024, as reported by the Federal Statistical Office on Tuesday, marking a downturn from the modest 0.2% growth in the first quarter. This contraction raises concerns about a potential recession if economic conditions do not improve in the coming months....

China’s summer movie ticket sales have exceeded $1.5 billion so far, falling short of last year’s record $2.89 billion, according to data from China’s Film Data Information Network, affiliated with the Central Propaganda Department. Traditionally one of the most profitable periods for the Chinese film industry, this summer's downturn is...

Florida’s commercial real estate market is sizzling, with major developments reshaping the landscape. Citadel, the powerhouse hedge fund, recently submitted plans for a luxurious 54-story headquarters in Miami. This move follows Citadel founder Ken Griffin's relocation of the firm from Chicago to Miami two years ago. The proposed 1.7 million...

Ford Motor Company announced changes to its diversity, equity, and inclusion (DEI) policies, opting out of an annual survey conducted by an LGBTQ advocacy group and eliminating quotas for minority dealerships and suppliers. Ford CEO Jim Farley emphasized the company’s commitment to accommodating diverse perspectives among employees and customers, noting...

Skyscanner recently collaborated with OnePoll to survey adults who are planning or have already experienced their weddings. The goal was to uncover key preferences and trends for weddings, especially those held in exotic locations, along with associated events like honeymoons and pre-wedding celebrations. The survey included 6,000 participants aged 18...