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Volkswagen Slashes 50% of Models, Cuts 100,000 Jobs by 2030—July 11
Volkswagen plans to slash 50% of its model range and cut 100,000 jobs by 2030 to combat falling profits and Chinese competition. The restructuring faces union opposition after supervisory board rejection on July 10.
DBS Launches S$10M Saturday Savings Plan: S$3 Off Eggs and Rice From July 18
DBS launches Saturday Savings programme with S$3 off eggs and rice at Sheng Siong and Giant supermarkets islandwide from July 18 to August 29 for all DBS and POSB cardholders.
BTS ‘Swim’ Hit With Copyright Lawsuit Over Demo Claims on July 8
Three songwriters sued HYBE on July 8, claiming BTS’s ‘Swim’ copied their demo. The lawsuit names Ryan Tedder and other co-writers. HYBE denies infringement and vows to fight in court.
8th Pay Commission Concludes Kolkata Talks on July 10; Fitment Factor Debate Intensifies
8th Pay Commission ends Kolkata consultations July 10. Employee unions demand fitment factor of 2.86-3.25 vs. 7th CPC’s 2.57. Final report due mid-2027.
SoftBank, PayPay Eye Stake in Seven & i to Deploy AI, Robots at 7-Eleven
SoftBank and PayPay consider investing several hundred billion yen in Seven & i Holdings to deploy AI and robots at 7-Eleven stores. Sumitomo Mitsui Card may also join the deal.
DBS Hits S$70.45 as Singapore Banks Rally to Record Highs on July 11
DBS stock surges past S$70 for the first time on July 9 as Singapore banks hit record highs. Macquarie upgrades DBS and UOB to outperform on improved interest rate environment and strong earnings momentum.
Singapore Tows Two Lorries for Missing July 1 Speed Limiter Deadline
Singapore Traffic Police towed two lorries for failing to install speed limiters by July 1 deadline. About 1.1% of affected vehicles remain non-compliant. Penalties include fines up to S$1,000 or three months jail.
Spahn Proposes Stripping Höcke’s Voting Rights Instead of AfD Ban—July 10
Jens Spahn suggests stripping Björn Höcke’s voting rights rather than pursuing a full AfD party ban. Constitutional experts question whether the move is legally viable under German law.
Louise Haigh Accuses Starmer’s ‘Cabal of Men’ of Sexist Briefings—July 10
Louise Haigh accuses Starmer’s government of sexist briefings against female MPs including Angela Rayner and Lisa Nandy. Haigh, a Burnham ally, says she was targeted after her 2024 cabinet resignation.