REUTERS/Tingshu Wang/File Photo
Image: REUTERS/Tingshu Wang/File Photo
Wake up to the shifts shaping the future.
From boardroom shakeups and billion-dollar bets to the latest tech breakthroughs rewriting the rules, The Company Brief is your front-row seat to the stories moving markets and mindsets.
We cut through the noise so you can stay ahead of the curve, one bold business move at a time.
Trump says he is raising tariffs on South Korean imports after trade deal delays
President Donald Trump said on Monday he was raising tariffs on U.S. imports of South Korean autos and other goods, blaming the legislature of an ally and a major trading partner for dragging its feet on enacting a deal agreed last year. For South Korea, the decision, which officials in Seoul said caught them by surprise, is the latest setback as it tries to navigate the alliance and trade partnership amid potential challenges to its security and financial stability posed by Trump's demands. Trump and South Korean President Lee Jae Myung struck a deal in principle last July for Seoul to initiate investments in the U.S. worth $350 billion in return for a U.S. promise to cut tariffs on its exports. "President Lee and I reached a Great Deal for both Countries on July 30, 2025 and we reaffirmed these terms while I was in Korea on October 29, 2025," Trump wrote on social media. Trump said South Korea's legislature had not enacted the deal and as a result: "I am hereby increasing South Korean TARIFFS on Autos, Lumber, Pharma, and all other Reciprocal TARIFFS, from 15% to 25%."
Fully electric vehicle sales in EU overtake petrol for first time in December
Fully electric car sales in December overtook petrol for the first time in the European Union, even as policymakers proposed to loosen emissions regulations, data showed on Tuesday. U.S. battery-electric brand Tesla continued to lose market share to competitors, including China's BYD and Europe's best-selling group Volkswagen, data from the European auto lobby ACEA showed. Car sales throughout Europe sustained a sixth straight month of year-on-year growth, with overall registrations, a proxy for sales, hitting their highest volumes in five years in Europe in 2025, though they remained well below pre-pandemic levels. Europe's car industry faces challenges, including competition from China, U.S. import tariffs and difficulties in profitably meeting domestic regulations for EV adoption. The EU unveiled in December a plan to abandon an effective 2035 ban on combustion engine cars, bowing to calls from struggling carmakers. Electric transport groups argue a swift EV transition is necessary to curb CO2 emissions.
Nike slashes 775 jobs in US to speed up automation, boost profit
Nike is laying off 775 employees, a source familiar with the matter told Reuters on Monday, as the sportswear giant looks to boost profits and accelerate its use of automation. The cuts will primarily impact distribution centre roles in Tennessee and Mississippi, where the sneaker giant operates large warehouses, the person said. Nike, whose business is struggling, is trying to reestablish itself as the world's leading sportswear brand after losing market share to rivals. It has undergone several rounds of layoffs in recent years. In August, it cut a little less than 1% of its corporate workforce as part of its turnaround efforts under CEO Elliott Hill, who took over the top job in 2024. It had previously announced it would cut 2% of its jobs - more than 1,600 in total - in February 2024.
Pick n Pay liable: SCA rules against retail giant
The Supreme Court of Appeal (SCA) has dismissed an attempt by Pick n Pay Retailers to reopen a long-running slip-and-fall case, confirming that the supermarket chain remains liable for injuries suffered by a customer who fell on a slippery substance inside one of its stores. The ruling supports earlier judgments holding Pick n Pay responsible for injuries sustained by Maria Williams at its N1 City Mall store in Goodwood, Cape Town. The case dates back to November 13, 2017, when Williams, the widow of late rugby star Chester Williams, was shopping with her sister when she slipped and fell in the store. She had briefly left the checkout area to retrieve an item she had forgotten and was walking briskly—but not running—through an aisle when she lost her footing. After the fall, Williams noticed an oily, orange-coloured substance on the sole of her shoe. She later suffered injuries to her left hip and shoulder joint, requiring medical treatment. Pick n Pay initially assured Williams that it would cover her medical costs but later failed to do so, prompting her to institute legal proceedings in the Western Cape High Court. She claimed damages for medical expenses, loss of earnings and general damages for pain and suffering.