AfD tops German state poll; JLR to cut 4,000 jobs; AI now key for UBS hires
AfD wins Saxony-Anhalt state election; JLR plans 4,000 job cuts; Trump envoys meet Zelenskyy; UBS requires AI skills.
Germany's political landscape saw a historic shift on Sunday as the far-right Alternative for Germany (AfD) surged to first place in the Saxony-Anhalt state elections, according to exit polls. This marks the first time since the Second World War that a far-right party has come within reach of wielding power at the state level in the country.
In corporate news, British carmaker Jaguar Land Rover (JLR), owned by Tata Motors, is preparing to cut as many as 4,000 jobs over the next two years. The move is part of a broader cost-reduction strategy aimed at countering competitive pressure from cheaper Chinese automobile manufacturers.
On the diplomatic front, U.S. peace envoys Jared Kushner and Steve Witkoff met with Ukrainian President Volodymyr Zelenskyy in Kyiv on Sunday. The talks come as the Trump administration intensifies its efforts to broker an end to the ongoing war in Ukraine, which has now lasted for four and a half years. The envoys had previously held discussions with Russian President Vladimir Putin in Moscow.
Meanwhile, in the financial sector, Swiss banking giant UBS has introduced a new requirement for prospective junior investment bankers: demonstrated proficiency in artificial intelligence (AI). The move signals the growing importance of AI literacy in the competitive world of investment banking.