BUSINESS

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Swiss watchmaker Swatch is facing a public relations crisis after an advertisement featuring a model pulling the corners of his eyes drew widespread condemnation from Chinese social media users, prompting the company to issue an apology and withdraw the advert. Critics argued that the pose resembled the "slanted eye" gesture, a historically racist caricature used to mock people of Asian descent, and called for a boycott of Swatch products in response.

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Seeking to expand its reach beyond electric vehicles and energy storage, Tesla has applied for a license to supply electricity to British homes, a move that could shake up the established UK energy market. If approved by Ofgem, the energy regulator, Tesla would be authorized to compete directly with the major players in the UK energy sector, providing electricity to households and businesses in England, Scotland, and Wales as soon as next year.

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With the boom in artificial intelligence (AI) straining global energy resources, Rolls-Royce believes its nuclear reactors could provide a sustainable power source, potentially making the company the UK's most valuable, its CEO has said. The engineering firm has already signed agreements to supply small modular reactors (SMRs) to the UK and Czech governments.

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Apple will invest an additional $100 billion in the United States, bringing its total pledge to $600 billion over the next four years, President Donald Trump announced Wednesday. He described the investment, made alongside Apple CEO Tim Cook at the White House, as "the largest investment Apple has made in America," and pointed to a new iPhone screen production facility in Kentucky.

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Uber Technologies Inc. posted strong second-quarter results, surprising analysts with an 18% jump in revenue and unveiling a massive $20 billion share repurchase plan. The ride-hailing giant's performance comes as its strategic bets on loyalty, automation, and partnerships begin to bear fruit.

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Germany's auto market presented a mixed picture this week, with official data showing a robust 11.1% year-on-year surge in new car sales for the month of July. However, analysts cautioned against interpreting this single month's data as a sign of full recovery, pointing out that new car registrations were down 2.5% across the first six months of the year, underlining the ongoing challenges facing the country's automotive sector.