Volvo Cars, headquartered in Sweden, is set to let go of approximately 3,000 employees as part of a broader strategy to streamline operations.

These job cuts will largely affect administrative roles within Sweden and account for around 15% of the company’s office-based staff.

Just a few weeks ago, the automaker, under the ownership of China’s Geely Holding, introduced a comprehensive “action plan” worth 18 billion Swedish kronor ($1.9bn; £1.4bn) aimed at reshaping its structure.

Automobile companies globally are grappling with numerous setbacks, from the imposition of 25% import taxes on vehicles by the US government to a surge in material expenses and reduced demand across Europe.

Chief Executive Håkan Samuelsson described this as a “challenging period” for the industry, noting the necessity of such measures.

“The actions announced today have been difficult decisions, but they are important steps as we build a stronger and even more resilient Volvo Cars,” he said in a statement.

Earlier in the month, the company reported an 11% decline in April’s global sales when compared to the same month a year ago.

Volvo’s central administrative offices are located in Gothenburg, and the firm operates major factories in countries such as Sweden, Belgium, China, and the United States.

Geely acquired the automaker from its previous American owner in 2010.

In 2021, Volvo shared its vision to produce only electric vehicles by 2030. However, that plan was scaled back last year due to several complications, including “additional uncertainties created by recent tariffs on EVs in various markets.”

Meanwhile, a Japanese automotive company disclosed earlier this month its decision to reduce its global workforce by 11,000 and close seven plants, citing weak sales performance.

The manufacturer has seen significant losses due to declining sales figures in China and aggressive pricing strategies in the US, its top two markets. A proposed business alliance with two other major Japanese automakers was also abandoned earlier this year.

These new layoffs bring the company’s total job cuts in the past year to about 20,000 employees, representing 15% of its entire workforce.

In a sign of escalating competition, a leading Chinese EV brand announced sweeping price reductions across more than 20 vehicle models over the weekend.

One of its most affordable models, the Seagull EV, now starts at 55,800 yuan ($7,745; £5,700).

Following this, other Chinese auto firms, including one partly supported by a major European-American vehicle group, introduced similar discounts.

The news prompted a steep decline in share values for several Chinese automakers.

This past April, that same Chinese EV manufacturer reportedly sold more units in Europe than Tesla for the first time, according to independent car market analysts.

Leaders from Southeast Asia have gathered for a historic summit alongside China and the Gulf Cooperation Council (GCC), as they work to protect their trade-reliant economies from potential new trade restrictions imposed by the United States.

The gathering is being hosted in Kuala Lumpur, Malaysia’s capital, and forms part of the annual meeting of the 10-country bloc known as the Association of Southeast Asian Nations (ASEAN).

Malaysia, currently chairing the bloc, is joined by fellow member countries Brunei, Cambodia, Laos, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

The high-level discussions are set to take place following prior meetings held between ASEAN and the GCC, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

As the ASEAN-GCC session commenced, Malaysian Prime Minister Anwar Ibrahim emphasized that increased cooperation between these regions would play a vital role in boosting mutual support and long-term development.

“I believe the ASEAN-GCC partnership has never been more important than it is today, as we navigate an increasingly complex global landscape marked by economic uncertainty and geopolitical challenges,” Anwar said.

Ahead of the summit, Anwar noted in a prepared statement that “a transition in the geopolitical order is underway” and warned that “the global trading system is under further strain, with the recent imposition of US uniunilateral tariffs.”

He also cautioned that the rise in trade restrictions globally is contributing to “multilateralism breaking apart at the seams.”

China Pushes for Economic Unity

Arriving in Kuala Lumpur a day before the official summit, China’s Premier Li Qiang expressed Beijing’s commitment to deeper economic connections among China, ASEAN, and the GCC during his bilateral meeting with Prime Minister Anwar.

“At a time when unilateralism and protectionism are on the rise and world economic growth is sluggish,” Li said, China, ASEAN and GCC countries “should strengthen coordination and cooperation and jointly uphold open regionalism and true multilateralism.”

Li conveyed Beijing’s openness to collaborating with Malaysia and other regional players to “promote closer economic cooperation among the three parties” in facing global difficulties.

While ASEAN traditionally balances relations with both Washington and Beijing, recent tariff threats from the Trump administration have put a strain on that neutrality.

Among the most impacted were six ASEAN countries, which saw U.S. tariff rates climb to as high as 49 percent.

In a move that temporarily eased tensions, a 90-day suspension of these tariffs was announced earlier this year, including a separate accord reached with China.

Officials say that ASEAN nations are now keen to broaden their economic ties with regions such as the Middle East and East Asia, as part of broader efforts to shield their markets.

A sign of how much weight the Gulf region places on this summit is reflected in the delegation it has dispatched. Attending are several high-profile leaders, including the Emir of Qatar, crown princes from Kuwait and Bahrain, and a deputy prime minister from Oman.

Anwar also mentioned that he had sent a letter requesting an ASEAN-US leaders’ summit within the year, stressing the importance of regional cooperation. Yet, according to the Malaysian foreign ministry, there had been no formal reply from Washington at the time.

ASEAN often functions as a neutral connector in global affairs, maintaining open dialogue with major powers such as the United States and China. Experts have said that due to the unpredictability of U.S. economic policy, ASEAN countries are seeking new partnerships to avoid over-dependence.

“Given the uncertainty and unpredictability associated with economic relations with the United States, ASEAN member states are looking to diversify,” a regional affairs scholar stated.

“Facilitating exchanges between the Gulf and People’s Republic of China is one aspect of this diversification.”

Malaysia, which played host to the start of ASEAN’s 46th annual summit, is seen as the driving force behind this multilateral engagement.

China, meanwhile, is exploring ways to expand into alternative markets after bearing the brunt of steep tariffs from the U.S.

Analysts suggest that Premier Li’s involvement in this summit comes at a strategic moment. “China sees an opportunity here to reinforce its image as a reliable economic partner, especially in the face of Western decoupling efforts,” one regional expert commented.

Trade tensions between the U.S. and China had intensified until a temporary understanding was reached during negotiations in Switzerland to pause tariffs for three months.

Still, Chinese exports continue to face elevated U.S. tariff rates compared to most other countries.

An evening of joy turned tragic in northwest England when a car slammed into a group gathered to mark Liverpool Football Club’s latest Premier League triumph, leaving dozens — including four children — with injuries.

Authorities detained a 53-year-old local man believed to be responsible for the incident. They described it as “an isolated incident” and confirmed there are no other suspects involved, adding that there’s no indication of a terror-related motive.

Liverpool’s mayor assured the public that a formal investigation will uncover the full story behind the crash. “It’s not for people on social media to be speculating what happened,” the mayor stated. “The police are the only people who have all of that information to hand – and they are the people we should trust.”

Visuals captured after the event revealed a street cordoned off with police presence and debris scattered at the location.

Massive crowds had filled the streets to take part in a celebratory bus parade following the club’s landmark 20th league title. However, celebrations were cut short when a gray minivan drove into fans dressed in red. Bystanders quickly surrounded the vehicle, some attempting to stop it.

Medical officials confirmed 27 individuals were transported to hospitals, with four people in serious condition. Emergency crews had to free three adults and one child who were trapped underneath the vehicle. Around 20 others were treated for minor wounds at the scene.

“This gray people carrier just pulled up from the right and just rammed into all the people at the side of us… It was extremely fast. Initially, we just heard the pop, pop, pop of people just being knocked off the bonnet of a car,” said a fan, who was present with his wife and two daughters. “It was horrible. And you could hear the bumps as he was going over the people … I saw people lying on the ground, people unconscious. It was horrendous. So horrendous,” he added.

Clips circulated online showed the driver being confronted by a furious crowd. At one point, individuals could be seen attacking the vehicle, which then reversed and sped away.

Another person described watching the car enter Water Street at considerable speed while honking. The vehicle drove past a police van and through the crowd.

Footage also captured emergency responders assisting the wounded, with some being lifted into ambulances. Police restricted access to the crash site and erected a tent as part of their investigation.

“We heard a frantic beeping ahead, a car flew past me and my mate, people were chasing it and trying to stop him, windows smashed at the back,” one witness recalled. “He then drove into people, police and medics ran past us, and people were being treated on the side of the road.”

Local authorities received the alert shortly after 6 p.m. regarding a car that had hit several pedestrians in the downtown area. Officials mentioned that detailed traffic control plans had been implemented in advance of the parade.

“Extensive enquiries are ongoing to establish the circumstances leading up to the collision and it is vital that people do not speculate or spread misinformation on social media,” one senior police official stated.

‘You’ll Never Walk Alone’

The event coincided with a UK holiday and featured the Liverpool team parading through the city atop a bus, cheered on by thousands over a 10-mile route.

The incident left the city in shock, and numerous figures from the sports community expressed solidarity with those affected.

Former club manager Jurgen Klopp commented, “Our thoughts and prayers are with all those who are injured and affected,” also posting, “You’ll never walk alone.”

Fellow football clubs — including Manchester United and Everton — also offered messages of sympathy, as did the Premier League.

On a national level, the Prime Minister extended support, saying, “My thoughts and the thoughts of the whole country are with all of those that are affected, those injured, which of course includes children, their families, their friends… Liverpool fans everywhere.” He also thanked emergency workers “who did a fantastic job and continue to do so.”

North Korea has denounced the United States’ intentions to build a state-of-the-art “Golden Dome” missile defense network, cautioning that it could “turn outer space into a potential nuclear war field”.

The advanced system, which President Donald Trump aims to reveal before concluding his presidency, is being developed to tackle “next-generation” threats from the sky, such as cruise and ballistic missiles.

According to reports from state-run outlets, officials in Pyongyang’s foreign ministry described the proposal as “the height of self-righteousness [and] arrogance”.

They also accused the US of being “hell-bent… to militarise outer space”, suggesting the initiative might escalate tensions and trigger “a global nuclear and space arms race”.

North Korea has consistently positioned the US as a hostile power and frequently lashes out at joint defense exercises carried out by Washington and Seoul.

Hong Min, a leading expert at the Korea Institute for National Unification, shared with AFP that Pyongyang likely views this missile initiative as a move that could “significantly weaken” its current nuclear strategy.

He added, “If the US completes its new missile defence programme, the North will be forced to develop alternative means to counter or penetrate it”.

In 2022, North Korea enacted legislation officially naming itself a nuclear-armed nation. Since then, it has ramped up its weapons testing, launching a series of both cruise and ballistic missiles.

Earlier this year, it announced the successful test of a medium-range ballistic missile equipped with a hypersonic warhead, asserting that the weapon “will reliably contain any rivals in the Pacific region”.

China has echoed North Korea’s disapproval of the US plans. In a statement last week, Beijing expressed that it is “seriously concerned” about the Golden Dome project, claiming it carries “strong offensive implications”.

“The United States, in pursuing a ‘US-first’ policy, is obsessed with seeking absolute security for itself,” China’s foreign ministry said. “This violates the principle that the security of all countries should not be compromised and undermines global strategic balance and stability.”

While some defense specialists agree the US needs to modernize its outdated protective systems, they caution that bringing the Golden Dome to life could be hindered by both political resistance and technological complexity.

One concern is the financial burden it may impose. Although $25 billion (£18.7 billion) has been set aside in the latest funding plan, projections suggest the full cost could swell to 20 times that amount over the coming decades.