Month: October 2025

AIBusiness

Former Meta Exec Nick Clegg Warns of “Pretty High” Chance of AI Market Correction

Former Meta executive Nick Clegg has warned that the artificial intelligence sector faces a “pretty high” chance of market correction. The former UK deputy prime minister cited “unbelievable, crazy valuations” and daily deal-making sprees as concerning indicators in the rapidly expanding industry.

AI Market Correction Risk “Pretty High” Says Former Meta Executive

Former Meta executive and British politician Nick Clegg has warned that the artificial intelligence sector faces a significant risk of market correction, according to his recent comments to CNBC. The former deputy prime minister of the United Kingdom stated that the likelihood of such an event is “pretty high” given current market conditions.

by Samuel Kim
BusinessEconomy

Nestle Announces Major Workforce Reduction as New CEO Accelerates Turnaround Strategy

Food giant Nestle will eliminate approximately 16,000 positions globally as part of an accelerated turnaround strategy under new leadership. The cuts come despite the company reporting better-than-expected organic growth of 4.3% in the third quarter, with the restructuring aiming to improve operational efficiency.

Major Workforce Reduction Announced

Nestle will cut approximately 16,000 jobs worldwide, representing about 6% of its global workforce, as new CEO Philipp Navratil accelerates the company’s turnaround efforts, according to reports released Thursday. The consumer goods giant stated that 12,000 white-collar positions will be eliminated immediately, with an additional 4,000 roles to be reduced over the next two years.

by Samuel Kim
Economy

UK Economy Grows 0.1% in August as Growth Momentum Slows

The UK economy grew by a modest 0.1% in August, according to official data, matching economist expectations. The Office for National Statistics revised July’s figures downward to show a 0.1% contraction, indicating slowing economic momentum.

UK Economic Growth Slows to 0.1% in August

The British economy expanded by a modest 0.1% in August, according to the latest figures from the Office for National Statistics. The lackluster growth figure matched expectations from economists polled by Reuters, who had anticipated month-on-month growth of 0.1%.

by Samuel Kim
EconomyMarkets

European Markets Face Negative Open Amid Volatile Trading Week

European markets are reportedly heading for a negative open on Thursday as volatility continues. According to analysis, Germany’s DAX and France’s CAC 40 are expected to open lower while investors monitor earnings and economic data.

European Markets Extend Volatile Pattern

European stocks are reportedly heading for a negative opening on Thursday as regional markets continue their choppy trading pattern this week, according to market analysis from IG. Sources indicate the U.K.’s FTSE index is expected to open 0.18% lower, while Germany’s DAX is projected to decline 0.3% and France’s CAC 40 is anticipated to drop 0.41%. Italy’s FTSE MIB is reportedly trading just below the flatline.

by Priya Kapoor
BusinessRetail

Galeries Lafayette Enters Indian Luxury Market Amid Growing Affluent Population

The 130-year-old Parisian luxury department store Galeries Lafayette has launched its Indian debut in Mumbai through a partnership with the Aditya Birla Group. The massive 90,000 sq ft store in Mumbai’s historic Fort neighborhood will feature over 250 luxury brands amid growing demand from India’s expanding affluent population. The opening comes as international luxury retailers increasingly target India’s rapidly growing high-end consumer market.

Historic Parisian Retailer Makes Indian Debut

The 130-year-old Paris-based luxury department store Galeries Lafayette has entered the Indian market through a partnership with the Aditya Birla Group, according to reports. The iconic retailer has partnered with the retail arm of the Indian conglomerate for its operations in what analysts suggest represents a significant vote of confidence in India’s growing luxury market.

by Priya Kapoor
EngineeringTechnology

Titan Submersible Implosion Caused by Engineering Failures, Official Report Finds

The Titan submersible’s catastrophic implosion during its Titanic wreck expedition resulted from fundamental engineering deficiencies, according to an official investigation. The NTSB found the vessel suffered from inadequate testing and should have been removed from service before its final voyage.

Official Investigation Points to Engineering Failures

The Titan submersible that imploded during a dive to the Titanic wreck site suffered from critical engineering deficiencies and inadequate testing protocols, according to an official report from US investigators. The catastrophic failure in June 2023 resulted in the deaths of all five passengers aboard the submersible, including OceanGate’s chief executive.

by Priya Kapoor
InfrastructureTechnology

Ipswich Installs UK’s First International Portal Linking to Global Cities

Ipswich has begun installation of the UK’s first international portal in its main square, creating real-time visual links to cities worldwide. The innovative structure will connect directly with existing portals in Dublin, Philadelphia, and Vilnius. Council leaders describe the project as a powerful symbol of global unity and innovation.

UK’s First International Portal Installation Underway in Ipswich

Work has commenced on installing the United Kingdom’s first international portal in Ipswich’s main town square, according to reports from local authorities. The innovative structure, positioned outside Town Hall on the Cornhill, will provide real-time visual connections to destinations across the globe, sources indicate.

by Samuel Kim
HardwareTechnology

Samsung Reportedly Cancels Galaxy S26 Edge, Discontinuing Slim Smartphone Line

Samsung has reportedly scrapped plans for the Galaxy S26 Edge and will discontinue its slim smartphone lineup entirely. According to new reports, the decision comes after disappointing sales of the current Galaxy S25 Edge model, which is now being discounted by 40% just months after launch.

Samsung’s Ultra-Slim Smartphone Line Reportedly Discontinued

Samsung Electronics has reportedly decided to cancel the launch of the Galaxy S26 Edge and discontinue its slim smartphone lineup entirely, according to multiple reports emerging from South Korea. The decision comes following disappointing commercial performance of the current Galaxy S25 Edge model, which failed to gain significant market traction despite its premium positioning.

by Samuel Kim
AISoftware

ChatGPT Android App to Add DM and Group Chat Features, Potentially Expanding AI Interaction

The ChatGPT Android application appears poised to introduce direct messaging and group chat functionality, according to recent reports. These new features could enable conversations between multiple users and custom AI assistants simultaneously, marking a significant expansion of the platform’s capabilities.

ChatGPT’s Messaging Expansion

The ChatGPT Android app may soon introduce direct messaging and group chat capabilities, according to reports from technology analysts. Sources indicate these features would represent a substantial evolution of the AI platform’s functionality, potentially enabling more dynamic and collaborative interactions between users and artificial intelligence systems.

by Samuel Kim
BusinessSupplychain

Airlines Face $11 Billion Supply Chain Crisis Through 2025, IATA Report Reveals

The International Air Transport Association reports airlines will absorb $11 billion in additional costs due to ongoing supply chain issues. The comprehensive study highlights massive fuel, maintenance, and leasing expenses impacting carrier profitability.

Massive Financial Impact on Global Aviation

Global airlines are facing more than $11 billion in extra costs from ongoing supply chain disruption this year, according to reports from the International Air Transport Association. The comprehensive study, produced with consultants Oliver Wyman, represents the first attempt to quantify the impact of a five-year supply chain crisis that has driven up fares and led to flight cancellations across the industry.

by Priya Kapoor