Business

Some of the world's largest lakes could shrink substantially within this century, with far-reaching consequences for ecosystems and roughly a quarter of the global population living in affected regions. Although restoration efforts have proved successful in some cases, many inland bodies of water face extreme challenges. Caspian Sea: A shrinking giant Despite its name, the Caspian Sea is actually a lake. Bordered by Iran, Russia, Azerbaijan, Turkmenistan and Kazakhstan, it is the largest inland water body on Earth. But its surface area has been rapidly receding since the 1990s. This shift is partly due to the use of dams and water-management practices in the Volga River basin. But hotter conditions driven by burning fossil fuels to power societies is also a contributing factor. Risin...

Earlier this month, gaming giant Electronic Arts was sold to an investment consortium including Saudi Arabia's Public Investment Fund and US President Donald Trump's son-in-law, Jared Kushner, for $55 billion (€47 billion). The deal stood out in a few ways. It is believed to be one of the largest leveraged buyouts in history, meaning a significant chunk of the $55 billion was borrowed money that the company itself will have to pay back. It was also the second-biggest deal in gaming history, after Microsoft's purchase of Activision Blizzard, the company behind the "Call of Duty" franchise, for $69 billion in 2023. The Electronic Arts sale additionally shone a light on the growing economic significance of the gaming industry and the increasing interest from major global investors such as ...

Addiction, self-harm, suicide: Social media's engagement-driven strategy is under intense scrutiny for allegedly engineering compulsive use and severe psychological harm, especially in children. Platforms like Facebook, YouTube and TikTok make huge profits by keeping users hooked via nonstop scrolling, recommendations and constant notifications. Facebook owner Meta, for example, generated a record $196.2 billion (€168.3 billion) in advertising revenue last year, driven by its ability to keep people glued to their screens. That business model is now facing major legal and regulatory roadblocks, with social media bans for people younger than 16 spreading globally and a growing wave of lawsuits, mainly in the United States. In the latest major case, 29 states, including California, Colora...

Some of the world's largest lakes could shrink substantially within this century, with far-reaching consequences for ecosystems and roughly a quarter of the global population living in affected regions. Although restoration efforts have proved successful in some cases, many inland bodies of water face extreme challenges. Caspian Sea: A shrinking giant Despite its name, the Caspian Sea is actually a lake. Bordered by Iran, Russia, Azerbaijan, Turkmenistan and Kazakhstan, it is the largest inland water body on Earth. But its surface area has been rapidly receding since the 1990s. This shift is partly due to the use of dams and water-management practices in the Volga River basin. But hotter conditions driven by burning fossil fuels to power societies is also a contributing factor. Risin...

1. Why is Volkswagen holding crunch talks with workers? Volkswagen's management is holding extraordinary meetings with workers this week amid an unprecedented cost-cutting drive, including reports of up to 100,000 job losses and the possible closure of several German car factories. Germany's auto industry faces a deep structural crisis due to intense pressure from Chinese rivals, the transition to electric vehicles (EVs), higher production costs and other challenges. As Europe's biggest carmaker by volume, VW has the heaviest exposure to overcapacity in its German plants, high fixed costs and its reliance on China. Workers have been particularly concerned by how the restructuring was communicated so far, which representatives have described as "disastrous." Nine separate meetings will...

Earlier this month, gaming giant Electronic Arts was sold to an investment consortium including Saudi Arabia's Public Investment Fund and US President Donald Trump's son-in-law, Jared Kushner, for $55 billion (€47 billion). The deal stood out in a few ways. It is believed to be one of the largest leveraged buyouts in history, meaning a significant chunk of the $55 billion was borrowed money that the company itself will have to pay back. It was also the second-biggest deal in gaming history, after Microsoft's purchase of Activision Blizzard, the company behind the "Call of Duty" franchise, for $69 billion in 2023. The Electronic Arts sale additionally shone a light on the growing economic significance of the gaming industry and the increasing interest from major global investors such as ...

1. Why is Volkswagen holding crunch talks with workers? Volkswagen's management is holding extraordinary meetings with workers this week amid an unprecedented cost-cutting drive, including reports of up to 100,000 job losses and the possible closure of several German car factories. Germany's auto industry faces a deep structural crisis due to intense pressure from Chinese rivals, the transition to electric vehicles (EVs), higher production costs and other challenges. As Europe's biggest carmaker by volume, VW has the heaviest exposure to overcapacity in its German plants, high fixed costs and its reliance on China. Workers have been particularly concerned by how the restructuring was communicated so far, which representatives have described as "disastrous." Nine separate meetings will...

1. Why is Volkswagen holding crunch talks with workers? Volkswagen's management is holding extraordinary meetings with workers this week amid an unprecedented cost-cutting drive, including reports of up to 100,000 job losses and the possible closure of several German car factories. Germany's auto industry faces a deep structural crisis due to intense pressure from Chinese rivals, the transition to electric vehicles (EVs), higher production costs and other challenges. As Europe's biggest carmaker by volume, VW has the heaviest exposure to overcapacity in its German plants, high fixed costs and its reliance on China. Workers have been particularly concerned by how the restructuring was communicated so far, which representatives have described as "disastrous." Nine separate meetings will...

US Treasury Secretary Scott Bessent has unveiled a new phase of Washington's economic campaign against Iran, this time aimed not only at sanctioned Iranian institutions but at the international networks Tehran has used to keep money and goods moving. Speaking on August 24, Bessent said the United States would target what he called five economic lifelines: digital assets, technology, gold, aviation and shipping. He also warned foreign entities that help the country illicitly move money around. "Any entity that facilitates money laundering for Iran will be removed from the US dollar-based financial system," Bessent said. "The countdown starts now." The approach represents an effort to tighten secondary sanctions, putting pressure on companies, financial intermediaries and trading partners...

1. Why is Volkswagen holding crunch talks with workers? Volkswagen's management is holding extraordinary meetings with workers this week amid an unprecedented cost-cutting drive, including reports of up to 100,000 job losses and the possible closure of several German car factories. Germany's auto industry faces a deep structural crisis due to intense pressure from Chinese rivals, the transition to electric vehicles (EVs), higher production costs and other challenges. As Europe's biggest carmaker by volume, VW has the heaviest exposure to overcapacity in its German plants, high fixed costs and its reliance on China. Workers have been particularly concerned by how the restructuring was communicated so far, which representatives have described as "disastrous." Nine separate meetings will...