Volkswagen's brutal jobs cull sparks prospect of sale of crown jewels

Manufacturer squeezed €10bn valuation from cloak-and-dagger Everllence auction but may need more to fund restructuring

The leap of faith behind SpaceX’s mega bond deal

The views of equity and bond investors might one day be at odds with each other

AI fuels record $200bn M&A boom in US power sector

Companies in dealmaking blitz as they seek to build the energy infrastructure for data centres

The BIS warns an AI bust could hit credit markets as hard as the 2008 financial crisis

The BIS warned that an AI investment bust could be as disruptive to credit as 2008, flagging circular financing and poorly disclosed risk in its annual report.

Ukraine’s vibe shift is bad news for Russia’s economy

As Kyiv’s battlefield fortunes change, policies long favoured by the west could now do real damage to Moscow

Germany’s Important Pension Reform Plan

An ambitious move that could have positive Europe-wide implications

AI ‘exuberance’ risks ending in lengthy investment bust, BIS warns

Weak returns could trigger a sharp pullback in funding for tech companies that threatens the global economy

No, we have not had enough of experts

Trust in specialists is growing 10 years after Brexit but employers still need more of them

Mines will hold back Strait of Hormuz shipping for months, CEO warns

NYK’s Takaya Soga says safe routes are ‘extremely limited’, restricting traffic to half prewar levels

Bond giant Pimco flexes muscles with private placements push

Firm tries to capitalise on some borrowers’ need to raise cash as boundaries with public markets blur

US launches strikes on Iran after Tehran attacks container ship

Washington says ‘unwarranted aggression against commercial shipping’ violated ceasefire between adversaries

German Carmakers Embark on Historic Job Cuts as Chinese Rivals Flood Market

Threat to Industrial Model of Europe’s Largest Economy Mounts