Ocado to axe 1,000 jobs in cost-cutting drive

Natalie ShermanBusiness reporter Getty Images The US is set to loosen its fuel economy rules, reversing another Biden-era policy that had been expected to lead to increased take-up of electric cars. US President Donald Trump announced the proposal at the White House, where officials said the prior standards were not realistically achievable and were driving…

Japanese stocks have hit a record high after the country’s ruling Liberal Democratic Party (LDP) named Sanae Takaichi as its new leader, positioning the pro-business politician to be Japan’s next prime minister. The benchmark Nikkei 225 index closed 4.75% higher on Monday, ending the day above 47,000 for the first time. Takaichi, who has held…

A joint amicus filing, a filing by parties with a strong interest in a case, also came from several groups, including the Chamber of Progress. The tech advocacy group, funded by and representing Google, Apple, Amazon, Nvidia and many other tech companies, said they shared concerns over the government punishing Anthropic for public speech.

The US has purchased Argentine pesos, taking the next step in a controversial effort to calm a currency crisis hitting the South American country and its president, Trump ally Javier Milei. Treasury Secretary Scott Bessent announced the purchase on social media, while saying the US had finalised terms of a planned $20bn (£15bn) financial rescue…

Faisal IslamEconomics editor Getty Images I was in the room and saw President Trump enter and it’s fair to say he got a good welcome from the crowd, certainly at the beginning. A standing ovation. On top of that, there was an astonishing scrum to try to get in, with many turned away – even…