Daily Recap: Business — 29 July 2026

Today’s business news captures a global economy being reshaped by pressure, politics and selective resilience. BMW plans voluntary redundancies for up to 8,000 staff in Germany as carmakers grapple with thinner electric-vehicle margins, tariffs and fierce Chinese competition, underscoring the strain on Europe’s industrial core. In mining, Allied Gold’s proposed $5.5 billion sale to China’s Zijin has collapsed, replaced by a far smaller minority investment as weaker market conditions alter the deal’s logic. By contrast, India’s Waaree Energies posted a strong quarter, with revenue surging nearly 79% and profits rising on booming solar demand and a swelling order book. Beyond earnings, the intersection of business and state power was on display as Russia sought Telegram founder Pavel Durov through international channels, while India’s Supreme Court formally closed the coal block case involving former Prime Minister Manmohan Singh, clearing the record on a long-running controversy.

Top Business stories

• BMW to offer voluntary redundancies for up to 8,000 jobs in Germany by end-2027 (12 sources)
• Russia issues international wanted notice for Telegram founder Pavel Durov (9 sources)
• Supreme Court closes coal block case after accepting CBI closure reports for Manmohan Singh (5 sources)
• SK Hynix shares plunge after record profit misses expectations and spending rises (4 sources)
• Fed holds interest rates steady as Iran tensions lift energy-price inflation risks (4 sources)
• Star Health Q1 profit rises to about ₹550 crore as underwriting improves (4 sources)
• Waaree Energies Q1 profit rises as revenue grows nearly 79% (4 sources)
• Grant Thornton agrees to buy CBIZ in $5 billion deal, forming major US advisory firm (4 sources)

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