Sharp drop in production caused by fall-off in exports prompts carmakers to contemplate diversifying

Elon Musk’s electric-car maker invests $2bn in the billionaire’s xAI

Strong earnings appear to quiet demands from Wall Street to justify up to $135bn in capital expenditures

Revenue rises 17% to $81bn but 66% surge in capital expenditures revives debate about returns on vast AI costs

Chair Jay Powell says robust growth and steadying jobs market show borrowing costs are not ‘restrictive’

Lord Jason Stockwood had previously suggested that tech companies could pay a windfall levy to fund the payments

Moves fuelled by surge in prices of precious and base metals triggered by heightened geopolitical tensions

London raises subject with Washington after stinging criticism from Trump

Governors Christopher Waller and Stephen Miran dissented against the decision, calling for a reduction

Plus, more on gold

Gold and silver are on a tear but buyer beware . . .  

Greenback rebounds after Treasury secretary rejects speculation that Washington is intervening to boost yen

Delivery and logistics group has been reducing its ‘volume’ from ecommerce giant by approximately 1mn pieces per day

Optimism over earnings powers Wall Street rebound from Greenland crisis

Big Four accounting firm has improved profitability in Britain as it recovers from series of scandals

Unexpectedly festive burials turn mourning into an act of defiance

Marco Rubio tells Capitol Hill that ‘regime is probably weaker than it has ever been’

Prosecutors search lender’s Frankfurt headquarters and a site in Berlin

The continent needs a sense of crisis in order to change, and Donald Trump keeps it just short of that

Cuts will bring total number of lay-offs to 30,000 over past three months amid higher spending on AI

Four-day visit to China overshadowed by concerns about human rights and spy threats

Prime minister launches attack on Matt Goodwin ahead of high-stakes vote next month

Dutch chipmaking equipment group predicts ‘significant increase’ in sales this year

Metal has gained more than 20 per cent this year amid geopolitical volatility and questions over US currency