BUSINESS

TOYOTA INDUSTRIES TARGETED IN $33B BUYOUT AS GROUP COMPANIES PLAN PRIVATIZATION

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Japan's corporate landscape witnessed significant upheaval as Toyota Industries experienced its steepest market decline in nearly a year. The dramatic 13% plunge in share value reflects investor skepticism surrounding a massive $33 billion privatization proposal from Toyota Group companies.

VOLVO CARS CUTS 3,000 JOBS WITH RISING GLOBAL PRESSURES

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Volvo Cars has announced a sweeping plan to lay off 3,000 employees, marking a significant shift in the company's operations as it confronts mounting global headwinds. The move, largely targeting white-collar staff, is part of an 18 billion Swedish kronor ($1.9 billion) cost-reduction plan aimed at reinforcing the firm's long-term resilience.

FORD SALES SURGE FOR SECOND STRAIGHT MONTH: EMPLOYEE PRICING AND TARIFF FEARS FUEL TRUCK AND HYBRID DEMAND

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Ford Motor Co. has marked a robust 16.3% year-over-year increase in U.S. sales for May, navigating through a landscape marred by escalating tariff costs and price adjustments. The surge in sales, propelled by a strategic employee pricing program, underscores Ford's resilience amid economic uncertainties.

23ANDME TO BE BOUGHT FOR $256M

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DNA testing firm 23andMe has announced an agreement to be acquired by Regeneron Pharmaceuticals for $256 million (£192 million). The agreement comes two months after 23andMe filed for bankruptcy protection in the US. As part of the deal, 23andMe emphasized that Regeneron has committed to comply with its privacy policies and has security controls in place to protect user data.

JUDGE CANCELS THE BOEING TRIAL OVER 737 A CRASHES

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A US federal judge has cancelled the upcoming trial of Boeing, scheduled for June 23, following a preliminary settlement reached between the Justice Department and the aviation giant regarding the 737 MAX crashes that claimed nearly 350 lives.

JAGUAR SAYS NO PLANS TO BUILD CARS IN US

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As President Donald Trump's tariffs impact the motor industry, UK-based carmaker Jaguar Land Rover (JLR) has stated it does not intend to produce vehicles in the US. JLR has no factories in the US and briefly suspended shipments to the country in April following Trump's initial tariff announcements, before resuming exports this month.

KFC PLANS TO CREATE 7000 JOBS IN UK AND IRELAND

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KFC has revealed plans to create 7,000 new jobs across the UK and Ireland as competition from fast-food chicken chains like Wingstop intensifies. The company is committing nearly £1.5 billion in investment over the next five years, with a portion allocated to opening new restaurants in strategic locations such as Ireland and north west England — the region where KFC launched its first UK outlet 60 years ago in Preston.

BURBERRY TO CUT JOBS AMID HEAVY LOSES

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Luxury fashion firm Burberry has announced potential plans to cut 1,700 jobs as part of a wider strategy to reduce costs by 2027. The British designer brand, known for its iconic check pattern, reported a £66m loss in the last financial year, prompting the proposed savings which would reduce its global workforce by almost a fifth and include potential redundancies at its Castleford factory in West Yorkshire.