Category: 3. Business

Plug-in hybrids (PHEVs) continue to fall short of their low-emission promise, emitting significantly more CO₂ in real-world driving than official ratings suggest, according to a new report by Transport & Environment (T&E).

The study analyzed data from over 800,000 vehicles across Europe and found that PHEVs sold in 2023 released almost five times more carbon dioxide than advertised. While manufacturers claim a 75% reduction in CO₂ compared to petrol cars, real-world results show only a 19% cut.

T&E highlighted that many PHEVs engage their combustion engine during so-called electric trips. On average, the engine kicks in for nearly one-third of electric-mode driving, mainly because the electric motors aren’t powerful enough to drive the car alone. Emissions vary based on the power ratio: PHEVs with strong electric motors (0.9 ratio) emit around 45 gCO₂/km, while weaker ones (0.5 ratio) emit over 100 gCO₂/km.

Longer electric ranges also don’t guarantee better emissions. Models rated for over 75 km of electric driving showed higher emissions than mid-range ones. Heavier weight and more powerful engines led to average CO₂ outputs of 202 g/km in charge-sustaining mode, about 25% higher than those with shorter ranges.

T&E’s report also noted that fuel use during “electric” driving adds up. Based on typical usage, drivers spend an extra €250 (PKR 82,000) per year on fuel even when driving in electric mode.

The study concludes that most PHEVs remain a transitional solution with more promise than performance. Without stronger electric motors, lower vehicle weight, and better incentives for actual electric use, their environmental benefits will remain overstated.

AUSTIN, Texas–(BUSINESS WIRE)–
Core Scientific, Inc. (Nasdaq: CORZ) (“Core Scientific” or the “Company”), a leader in digital infrastructure for high-density colocation services and digital asset mining, today announced that at a special meeting of Core Scientific stockholders (the “Special Meeting”) held earlier today, the Company did not receive the requisite number of votes to approve the previously announced merger agreement with CoreWeave, Inc. (Nasdaq: CRWV).

The final voting results from the Special Meeting will be reported in a Form 8-K filed by Core Scientific with the U.S. Securities and Exchange Commission.

ABOUT CORE SCIENTIFIC

Core Scientific, Inc. (“Core Scientific” or the “Company”) is a leader in digital infrastructure for high-density colocation services and digital asset mining. We operate dedicated, purpose-built facilities for high-density colocation services and are a premier provider of digital infrastructure, software solutions and services to our third-party customers. We employ our own fleet of computers (“miners”) to earn digital assets for our own account and we are in the process of converting most of our existing facilities to support artificial intelligence-related workloads and next generation colocation services. We currently derive the majority of our revenue from earning digital assets for our own account but expect to rapidly increase revenue derived from high-density colocation (“HDC”). We currently intend to repurpose our remaining facilities currently used in our digital asset mining businesses to support our high-density colocation computing services business as circumstances allow and in a manner designed to retain access to electrical power under our control, maximize the value of our digital asset mining equipment to third parties, and fulfill our existing obligations to suppliers and customers. Our facilities are located in Alabama (1), Georgia (2), Kentucky (1), North Carolina (1), North Dakota (1), Oklahoma (1) and Texas (3). To learn more, visit www.corescientific.com.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “aim,” “estimate,” “plan,” “project,” “forecast,” “goal,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including: our ability to earn digital assets profitably and to attract customers for our high density colocation capabilities; our ability to perform under our existing colocation agreements, our ability to maintain our competitive position in our existing operating segments, the impact of increases in total network hash rate; our ability to raise additional capital to continue our expansion efforts or other operations; our need for significant electric power and the limited availability of power resources; the potential failure in our critical systems, facilities or services we provide; the physical risks and regulatory changes relating to climate change; potential significant changes to the method of validating blockchain transactions; our vulnerability to physical security breaches, which could disrupt our operations; a potential slowdown in market and economic conditions, particularly those impacting high density computing, the blockchain industry and the blockchain hosting market; price volatility of digital assets and bitcoin in particular; potential changes in the interpretive positions of the SEC or its staff with respect to digital asset mining firms; the likelihood that U.S. federal and state legislatures and regulatory agencies will enact laws and regulations to regulate digital assets and digital asset intermediaries; changing expectations with respect to ESG policies; the effectiveness of our compliance and risk management methods; the adequacy of our sources of recovery if the digital assets held by us are lost, stolen or destroyed due to third-party digital asset services; Any such forward-looking statements represent management’s estimates and beliefs as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

Although the Company believes that in making such forward-looking statements its expectations are based upon reasonable assumptions, such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. The Company cannot assure you that the assumptions upon which these statements are based will prove to have been correct. Additional important factors that may affect the Company’s business, results of operations and financial position are described from time to time in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Reports on Form 10-Q and the Company’s other filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law.

https://www.linkedin.com/company/corescientific/

https://twitter.com/core_scientific

https://www.youtube.com/@Core_Scientific

View source version on businesswire.com: https://www.businesswire.com/news/home/20251030166711/en/

Investors:

ir@corescientific.com

Media:

press@corescientific.com

Source: Core Scientific, Inc.

Released October 30, 2025

The second edition of the Xiaomi POP Run 2025 took over the Jinnah Sports Complex, uniting fitness enthusiasts, families, and the Xiaomi community for a high-energy celebration of health, innovation, and togetherness.

With over 1,300 runners and total attendance crossing 2,000 participants, the event marked one of Xiaomi’s most vibrant community experiences in Pakistan to date.

Held under the global theme “Passion Beyond Limits,” this year’s 5KM run captured the true essence of inclusivity and community spirit. Participants from all age groups from a 7-year-old to a remarkable 76-year-old joined the marathon, proving that fitness knows no boundaries. Both were honored with a Xiaomi Smart Band 10 for their inspiring efforts.

Event Details

Xiaomi also set up an exclusive Product Experience Booth, showcasing its latest innovations across smartphones, AIoT devices, home appliances, wearables, and TWS products, allowing visitors to experience the brand’s technology firsthand. Attendees explored cutting-edge devices like the Xiaomi 15T Series and Redmi Note 14 lineup, further connecting fitness with innovation.

Adding a star-studded touch, popular creators Ukhano and Amna Youzasaif participated in the run, interacting with fans and sharing the experience across social media. Their presence, alongside 70+ KOLs, created significant digital buzz, generating 1,500+ attendee stories and over 300 influencer posts, amplifying the event’s online visibility across platforms.

Beyond social media, the event enjoyed strong mainstream media coverage from Hum News, GTV, The Frontier Post, Jehan Pakistan, and Daily Nayi Baat, complemented by four digital billboards displayed across Islamabad in the days leading up to the marathon.

Reflecting on the successful turnout, a Xiaomi spokesperson shared: “Bringing POP Run to Pakistan has been a goal for us, and we couldn’t be more thrilled with the incredible participation this year. This event reflects Xiaomi’s commitment to the Pakistani community, uniting our shared passion for fitness, innovation, and technology.”

With an electrifying atmosphere and a seamless blend of technology and wellness, Xiaomi POP Run 2025 concluded as a resounding success — embodying the brand’s vision of a healthy, active, and connected lifestyle. The event once again reaffirmed Xiaomi’s growing bond with the Pakistani community and its ongoing mission to inspire passion beyond limits.

Prizes

The competition’s top three male and female winners received cash prizes of

• 1st Place: PKR 150,000
• 2nd Place: PKR 100,000
• 3rd Place: PKR 50,000

Along with Xiaomi Smart Band 10 for all top5 winners. Additionally, the first 800 finishers proudly wore commemorative medals, while 25 more Smart Bands were distributed through engaging on-ground activities and lucky draws, adding excitement throughout the day.

Zong has once again emerged as the top-performing mobile network in Pakistan, according to the Pakistan Telecommunication Authority’s (PTA) independent Quality of Service (QoS) survey for the third quarter of 2025.

The survey, which covered 17 cities and two major roads, and included roughly 46,000 voice calls and SMS tests plus about 0.33 million broadband samples, placed Zong first in several critical categories, including 4G coverage, voice quality, and SMS performance, and multiple broadband throughput metrics.

Jazz was in second place overall, while Ufone and Telenor came in at 3rd and 4th, respectively. Here is a detailed breakdown of network rankings in each performance category.

4G Coverage and Voice Calls

Zong led the chart in mobile network coverage across 15 cities for 4G and in 11 cities for 3G, placing it first in the coverage ranking. By comparison, Jazz recorded 13 compliant 4G city results and Ufone 12, while Telenor lagged with compliance in only six cities for 4G.

In terms of voice calls, which is a composite of Network Accessibility, Call Setup Success Rate (CSSR), Call Connection Time (CCT), Call Completion Ratio (CCR), and Mean Opinion Score (MOS), Zong topped the standings with 86 compliant voice QoS KPIs against 9 non-compliant.

Latency and Web Browsing

Latency results show a more nuanced performance. In the PTA’s auto-mode latency, Zong’s average was higher than the very best performers (the survey summary shows average latencies of Jazz ~68 ms, Telenor ~67 ms, Zong ~77 ms, and Ufone ~98 ms), placing Zong behind Jazz and Telenor on this specific metric. However, in 3rd-party app latency testing, Zong remained broadly compliant across almost all cities (18 compliant, 1 non-compliant), tying it with Ufone for second place in the 3rd-party latency standings.

For web page loading time, Zong trailed leaders Ufone and Jazz (Zong was compliant in 13 cities and non-compliant in 5), indicating that while Zong’s raw throughput and upload performance are ahead of others, web-page QoE still favored some competitors in a handful of locations.

Jazz remained competitive, particularly for auto-mode download throughput (leading in 11 cities), and Telenor and Ufone each led in selected non-service KPIs (latency, web page loading) across parts of the survey footprint.

This is a comparative report and does not cover all of Pakistan. A mobile network winning this survey does not mean it is a flawless performer, but simply ahead of others in the 17 cities covered in the test. 

The European Central Bank kept interest rates on hold on Thursday for the third meeting in a row despite concerns that a modest economic recovery across the eurozone will fuel inflation.

The ECB kept its key deposit rate at 2% despite annual price growth rising to 2.2% across the 20-member euro bloc in September, up from 2% in August and 1.7% a year earlier.

In the 27-member EU, annual inflation was 2.6% in September, up from 2.4% in August, according to Eurostat.

The eurozone economy expanded by 0.2% in the third quarter from the previous three months, according to preliminary data from the European Commission published on Thursday.

The increase was higher than the 0.1% City analysts expected of 0.1%, with the rise driven mainly by strong performances in Spain, which expanded by 0.6%, and a 0.5% increase in France.

The ECB rate decision follows a divergence across the eurozone in prices growth, which the central bank is expected to maintain at about 2%.

Cyprus kept inflation at zero, while it increased modestly to 1.1% in France and 1.8% in Italy and Greece. However, Romania reported an inflation rate of 8.6%, to add to Estonia’s 5.3% and Slovakia’s 4.6%.

The ECB has said it is concerned by the high level of inflation from services, food and energy. However, it has trimmed its main deposit rate to 2% over the past year and a half – about half the rate in the UK and US.

The Bank of England is widely expected to keep its headline rate at 4% when its policymakers meet on 6 November. On Wednesday the US Federal Reserve trimmed its benchmark rate by a quarter point to a range of 3.75% to 4%, the second cut this year.

Volkswagen has signalled that its annual profit targets are at risk without sufficient computer chips, in the latest sign that an expected shortage of semiconductors from China could hit carmakers across Europe.

The struggling German automotive firm said a series of cost cuts and new model launches were helping to offset a slump in Chinese demand, but it added that forecasts were based on the “adequate availability of semiconductors”.

Carmakers in the EU have said they may have to close production lines amid dwindling supplies of chips from Nexperia, the Chinese-owned producer.

Beijing banned exports from Nexperia after the Dutch government took over the company, which is based in the Netherlands, at the end of September and suspended its Chinese chief executive after the US raised security concerns.

VW company sold 6.6m cars in the first nine months of 2025, up 1.8% year on year. It forecast an operating profit between 2% and 3% for the full year but said US trade tariffs were dragging on its most popular cars. The levies are expected to cost €5bn (£4.4bn) this year, said Arno Antlitz, VW’s chief financial officer.

Volkswagen reported a €1.3bn operating loss after a U-turn on its EV strategy at its subsidiary Porsche, announced in September, set it back €4.7bn in writedowns.

Antlitz said on Thursday the chip problem was “not a technical shortfall or a capacity shortfall. It’s really induced by political discussion, and this is where we hope that all the relevant parties sit together and find solutions.”

Germany, which counts Volkswagen as one of its manufacturing powerhouses, reported a further stagnation in economic growth on Thursday. Gross domestic product was 0% in the last quarter as weak global demand and US tariffs continued to hit exports from the country.

The European Automobile Manufacturers’ Association (ACEA) said this week that carmakers were days away from closing production lines because of the chip shortage. In 2021 a shortage of chips related to the Covid pandemic hampered car production.

Volkswagen has had some success in countering a slowdown in deliveries to China by launching new models. Its latest electric vehicles, including the Skoda Elroq, which entered production this year, have helped to boost sales.

Antlitz said the product launches were paying off and VW was making progress on a restructuring programme, but “the financial result is significantly weaker compared to the previous year. This is partly due to the ramp-up of lower-margin electric vehicles.”

Carmakers are also under pressure from a Chinese ban on rare earth exports. Donald Trump said on Thursday that Beijing had agreed to end a ban on deliveries of the minerals to the US for the next year. Talks are due to take place in Brussels over the issue.

Separately, the Vauxhall and Jeep owner Stellantis reported a 13% jump in third-quarter revenue and shipments compared with last year, in early signs of a turnaround under its new chief executive, Antonio Filosa.

Stellantis said sales rose to 1.3m vehicles, also buoyed up by new product launches. A third of the year-on-year increase in sales came in the US, where it owns the Ram, Chrysler and Dodge brands.

The comments by Shell CFO Sinead Gorman suggest a note of caution as forecasts point to ample LNG supply in future, although she was not concerned about the European Union’s move this month to ban Russian liquefied natural gas (LNG) imports from January 2027, a year earlier than planned.

Sign up here.

“Supply growth on the horizon and those timings are uncertain. You’ve seen those move quite a few times between years,” Gorman said.

Shell expects global demand for LNG to grow up 60% by 2040 and wants to boost its LNG sales by 4% to 5% a year throughout this decade. It sold more than 65 million metric tons last year.

Gorman said prices of $11-$12 per million British thermal units (MMBTU) during the third quarter had allowed Europe to restock gas inventories.

Equinor nevertheless lowered its long-term gas price outlook, to $8 per MMBTU in 2030 from around $9 per MMBTU, given its expectations for new volumes coming to market.

Our Standards: The Thomson Reuters Trust Principles., opens new tab