Europe
BBC Business

How video game remakes tap the power of nostalgia

The moment she saw footage from the remake of The Legend of Zelda: Ocarina of Time, Kacey Doran picked up her phone. She had to tell her sister. Nearly 30 years ago, a 10-year-old Doran had sat in front of her family's TV, reading out the dialogue on screen to her sister, a year younger, as they inched their way through the original Nintendo 64 game's sprawling, puzzle-filled dungeons. Ocarina's fantasy-like story, and beautiful music, enthralled them both. It was also the first game Doran ever completed. Now, countless memories rushed back to her as she devoured clips of the fully redesigned version, due to arrive on the Switch 2 later this year. This is the power of nostalgia – and a perfect example of how video games can trigger it. Doran now teaches an esports course at Rowan University in New Jersey. She says the original Ocarina of Time, released in 1998, had a "magical" quality that she hopes to rediscover, and also share with her sister's children. The video games industry has long leaned on remakes. From Mario Kart to the Final Fantasy series, or even Pac-Man, some games just keep coming back in updated forms, as new generations of gamers emerge and as computer hardware improves, enabling more detailed graphics and increasingly expansive game worlds. While the emotional hook may be the most significant draw, putting out a remake can be a double-edged sword. Some gamers are very protective of their favourite titles and new versions don't always meet certain fans' astronomically high expectations. Nostalgia is an important but mixed emotion, says Tim Wulf, at the Centre for Advanced Internet Studies in Bochum, Germany. It has positive aspects but also a kind of sadness, too. Happiness in remembering things that were important to us, and also an awareness that that time is now gone. "It's a social emotion because memories that induce nostalgia for us are connected to other people," he explains, adding that nostalgia can boost our self-esteem while highlighting key social bonds. Video games, says Wulf, are notoriously good at triggering nostalgia because gamers can "jump into the same environment". In other words, games are like time machines for our emotions, and returning to fondly remembered places can feel stabilising or reassuring in an ever-changing world. Doran, for one, notes that when you return to a favourite old game, there's something satisfying about deploying previously learned skills. You know what to do here, you're winning again. Just like the old days. Putting out remasters and remakes has been a "really successful" strategy for the games industry, says Piers Harding-Rolls, head of games research at Ampere Analysis. "Tying in with established audiences and building on existing content is quite a safe route for a lot of companies," he adds. In many cases, it is cheaper to update an existing game rather than create a new title from scratch.

How video game remakes tap the power of nostalgia
Europe
DW Economy

Germany news: Merz in Asia warns against weaponizing trade

German diplomacy in Asia takes focus this week, as Chancellor Merz wraps up a three-country Asian business tour in South Korea. Meanwhile, President Steinmeier held talks with Xi Jinping in Beijing. DW has more. Ahead of talks with Chinese President Xi Jinping on Friday, German President Frank-Walter Steinmeier lauded China's role as a global technological and economic power, while emphasizing the responsibility that comes along with it. "We both bear responsibility for the ⁠international order ​and for the conditions under which states in this world maintain and shape their relations," Steinmeier said. President Xi praised what he called an "all-dimensional strategic partnership" between China and Germany, calling for new cooperation based on stability and mutual benefit. "This new paradigm sends a positive signal to the world: we favour openness over closure, and cooperation over confrontation," Xi said during opening remarks, emphasizing the start of a "new chapter" in Germany-China ties. On October 30, 1961, West Germany and Turkey signed an agreement allowing the temporary recruitment of workers. Sixty-five years on, many so-called "guest workers" cannot live from their pensions.  Learn more about how "guest workers" are struggling as they reach retirement age in this in depth report by Oliver Pieper. German Chancellor Friedrich Merz on Friday visited the Panmunjom truce village at the demilitarized zone (DMZ) separating North and South Korea, briefly standing on the North Korean side inside the barracks. North and South Korea have been divided since the end of hostilities in the Korean War in 1953, with a border running across the peninsula. In remarks to reporters, Merz recalled Germany's reunification 36 years ago. "Let us hope that Korea too gets the chance one day to regain state unity," he said. "You can also notice it here at this place, how much a country suffers from division and how strong the desire is for reunification, at least in this part of the Korean Peninsula," he said, adding that he had been asked about Germany's reunification experience while visiting Seoul. 

Germany news: Merz in Asia warns against weaponizing trade
Europe
DW Economy

India increases growth forecast for fiscal year

India's Ministry of Finance has increased its growth forecasts for the current fiscal year. But it also warned about inflation, particularly for fuel and energy, amid continued instability in the Middle East. Despite the ministry's rosy overall forecast, fuel costs have risen by around a quarter in the past year, putting severe strain on households.Image: Diptendu Dutta/NurPhoto/picture allianceAdvertisementIndia's Ministry of Finance expects India's economy to grow at a pace of 7.3% in the current fiscal year based on its latest assessment of current data, it said in its October economic review.  India's current fiscal year, known as FY27, runs from April 1, 2026 to March 31, 2027. The report contrasted these figures with global growth predictions of nearer 3%, saying "India's growth momentum, by comparison, has held firm."  The ministry said growth in various key indicators like energy consumption, port traffic, goods and services tax (GST) collections, and car sales had accelerated in the previous quarter. However, the ministry also warned of continued inflationary pressure and pressure on the rupee currency, as well as downside risks from the El Nino weather phonemenon that could threaten soil moisture ahead of the winter sowing season.  It said that external factors like oil prices and "global uncertainties" — seemingly a reference at least in part to the instablity in the Middle East — continued to pressure the rupee's value and pose inflationary risks. Consumer price inflation (CPI), the wholesale price index (WPI), food cost prices and fuel and power prices were all rising month for month, albeit at very different rates. The CPI was up 5.54% year-on-year in September, but the WPI had risen more sharply at 11.39%. Food index inflation was up by 8% in rural areas, and a slightly more modest 7.18% in urban centers.  But, as in many other countries, fuel and power costs increases were in an entirely different league, at 25.85% inflation in September 2026 comapred to the same month a year earlier, prior to the outbreak of fighting in the Middle East.  Although it has been a comparatively slow decline, the rupee has been consistently losing value against the US dollar over the past five years, threatening the country's relative purchasing power internationally. This slide has picked up pace in the last 15 months or so. But the ministry pointed to foreign exchange reserves worth some $721 billion and said that India was "well-positioned" to weather such risks and sustain its expansionary trajectory..

India increases growth forecast for fiscal year
Europe
DW Economy

EU's 'Made in Europe' push unnerves global auto suppliers

In shielding Europe's carmakers from Chinese rivals, the EU risks hurting close partners from Turkey and Morocco to Japan and South Korea. Billions in trade and hundreds of thousands of European jobs are at stake. As well as supplying vehicles and parts to the EU, Turkey is making its own electric carsImage: Murat Cetinmuhurdar/Turkish Presidency/HandoutAA/picture alliance AdvertisementIt is meant to save Europe's auto industry from China's unfair trade practices. The European Union's Industrial Accelerator Act (IAA), proposed in March, seeks to upgrade European car factories and only subsidize vehicles produced in Europe. Yet, the EU's "Made in Europe" plan is causing deep concern among other allied carmaking nations — such as Turkey, Morocco, Japan and South Korea — all of them deeply embedded in European supply chains. After months of deadlock over the IAA's potential impact on their own vehicle production, Germany and France earlier this month reached a key compromise that would allow suppliers from non-EU members like the United Kingdom and Norway to qualify for "European origin" status. Other key players in the automotive sector, however, will be excluded — including Turkey, which has enjoyed seamless access to the EU market since the mid-1990s. While the proposals still face major legislative hurdles in Brussels before becoming law, Ayhan Zeytinoglu, chairman of the Economic Development Foundation (IKV), thinks the Franco-German framework could be devastating for Turkey's auto sector. "73% of Turkey’s total automotive exports go to the EU," Zeytinoglu told DW. "If we encounter a 'Made in Europe' barrier in the EU market, this will cause great damage to our trade with the EU and to our exports." Excluding Turkey would also harm European automaking rather than strengthen competitiveness against China, he added. Turkey's auto exporters association OIB calculated that the country's automotive exports to the EU totaled $30.1 billion (€26.8 billion) last year. The IAA requires that 70% of the total value of a vehicle's components — excluding the battery — should be made in Europe. However, the initial proposal only applies to battery-electric vehicles (EVs), plug-in hybrids and fuel-cell models, which last year made up just 27% of all new EU car registrations. Tommaso Pardi, director of the international automotive research network GERPISA and a senior researcher at the French National Center for Scientific Research (CNRS), notes that the 70% target is remarkably generous.

EU's 'Made in Europe' push unnerves global auto suppliers
North America
Yahoo Finance

Nasdaq Futures Slip Amid Tech Selloff While S&P 500, Dow Edge Higher Ahead Of Crucial Earnings Week: IREN, CRWV, NBIS, MRNA, EWZ In Focus

U.S. stock futures tracked mixed overnight late on Sunday, as last week's sharp selloff in technology stocks weighed on the Nasdaq even as markets brace for crucial earnings updates. As of 10:20 p.m. EDT, Dow futures gained 0.22%, and S&P 500 futures were up 0.11%. Nasdaq-100 futures were down 0.02%. On Friday, U.S. benchmark indexes closed lower. The Dow Jones Industrial Average shed more than 650 points to end 1.23% lower. The Nasdaq Composite was down 2.1% at close, while the S&P 500 fell 0.52%. The Nasdaq and S&P 500 clocked two consecutive weeks of declines amid a widespread tech and AI selloff. However, the Dow Jones clocked three back-to-back weeks in the green. Technology stocks sold off sharply last week amid growing concerns about the sustainability of artificial intelligence and debt woes. Meanwhile, on the geopolitical front, even as relations between the U.S. and Iran remain fraught with challenges, U.S. President Donald Trump told reporters on Sunday that “there will not be a strike (on Iran) today,” easing fears of re-escalation. Additionally, the U.S. Central Command said on X that the commander of CENTCOM, Brad Cooper, visited the Strait of Hormuz on Oct. 25, as U.S. forces have helped Gulf partners export more than 1.5 billion barrels of crude oil since summer. CENTCOM also said it had helped more than 3,000 commercial vessels successfully transit the Strait over the last six months. "Today, primary transit routes in the Strait of Hormuz remain free and clear of Iranian sea mines thanks to incredible efforts by our people," said Cooper. "We remain intensely focused on keeping commercial traffic flowing as we work with our teammates in the U.S. interagency, Gulf Cooperation Council, and shipping industry." Oil prices pulled back from six-month highs overnight. Brent crude futures were trading at $114.85 a barrel, down 1.60%, while WTI crude futures traded nearly 2% lower at $101.28 per barrel. Meanwhile, as election season takes off worldwide, Trump reaffirmed his endorsement of Benjamin Netanyahu in the lead-up to the Israeli elections. “To the people of Israel, to those who haven’t seen it, I am attaching the Endorsement I gave one week ago to your Prime Minister, Bibi Netanyahu,” he said in a post on Truth Social. In Brazil, leftist President Luiz Inacio Lula da Silva defeated right-wing Senator Flavio Bolsonaro in a surprising turn of events, sending Brazilian stocks lower.

Nasdaq Futures Slip Amid Tech Selloff While S&P 500, Dow Edge Higher Ahead Of Crucial Earnings Week: IREN, CRWV, NBIS, MRNA, EWZ In Focus
Europe
The Guardian

DoorDash to buy Instacart for $17bn in major grocery delivery consolidation

A food delivery rider waits at a traffic light on 30 March 2020 in Lone Tree, Colorado. Photograph: David Zalubowski/APView image in fullscreenA food delivery rider waits at a traffic light on 30 March 2020 in Lone Tree, Colorado. Photograph: David Zalubowski/APBusinessDoorDash to buy Instacart for $17bn in major grocery delivery consolidationAcquisition will supercharge DoorDash’s grocery delivery, ‘one of the hardest things to get right online’, CEO says DoorDash is gobbling up Instacart in a $17bn acquisition that will supercharge its grocery delivery business. DoorDash said the Instacart brand name and app will remain, and Instacart shoppers can continue fulfilling orders for Instacart. Grocers can also choose to work with Instacart or DoorDash. Instacart customers will now have access to 50,000 additional stores covered by DoorDash, the company said. Instacart, founded in 2012, specializes in grocery and convenience store delivery in the US and Canada. Its 600,000 “shoppers” – who are independent contractors – completed 338m orders last year, according to company filings. Instacart has a market value of $14bn. DoorDash, founded in San Francisco in 2013, began as a restaurant delivery business but has expanded to pet food and electronics. Operating in 40 countries, it completed more than 3bn orders last year using a network of 9m independent delivery workers. It has a market value of $73bn. DoorDash began delivering groceries in 2020 amid a surge in pandemic-era demand. Grocers were initially cautious. Kroger partnered with the San Francisco company in 2022 but initially allowed the company to deliver only flowers, sushi and prepared meals from a limited number of stores. The partnership with one of the nation’s largest grocery chains expanded last fall, and DoorDash now lists the full inventory of all 2,700 US Kroger stores in its online marketplace. DoorDash scored another coup last month when it added delivery from Costco . Tony Xu, co-founder and CEO of DoorDash, said the acquisition will combine Instacart’s expertise in grocery with DoorDash’s expertise in logistics and delivery. “Grocery is one of the hardest things to get right online. Someone has to pick a ripe avocado, find a substitute you’d choose yourself, and get the ice cream to you before it melts,” Xu said in a statement. “Together, we could give stores of every size more of those tools and unlock the potential of grocery delivery.” DoorDash’s aggressive market-share gains have hurt Instacart. Five years ago, Instacart commanded 26% of spending on US delivery platforms; that share has fallen to 18%, according to Consumer Edge, a market research company. DoorDash’s share grew from 44% to 59% in that same period. Uber Eats’ share held steady at just under 20%. It’s not yet clear what the deal will mean for some partnerships. Instacart offers delivery from Walmart, for example, but DoorDash stopped providing Walmart delivery in 2022.

DoorDash to buy Instacart for $17bn in major grocery delivery consolidation
Europe
DW Economy

Volkswagen logs Q3 operating loss of €5.86 billion on Porsche writedown

The Volkswagen Group has filed its worst quarterly performance since the height of the "Dieselgate" scandal in 2015. Share prices climbed in response, however, perhaps because the bad news was so well signposted. The VW group has been selling roughly 10% fewer units worldwide, but at slightly higher average prices compared to last year [FILE: March 7, 2025]Image: Julian Stratenschulte/dpa/picture allianceAdvertisementThe Volkswagen Group on Thursday posted its worst quarterly numbers in more than a decade.  The company reported an operating loss of €5.86 billion (roughly $6.53 billion) during July, August and September. One-off costs, not least a massive writedown in its stake in struggling sister company Porsche, explained the vast bulk of the losses.  The world's second-largest carmaker is battling mounting competition from and falling demand in the core Chinese market. It is pursuing a major restructuring and downsizing program, trying to bolster falling profit margins, and executives said the difficulties highlighted the urgency of this process. "The nine-month results make one thing clear: We cannot afford to lose any time. We must act quickly and decisively," chief financial officer Arno Antlitz said in a video statement.  The results were the latest reminder of the pressure on VW — and the wider German and Western automotive industry — to react to increasing competition in China, high costs and practical difficulties moving towards electric car production, and unpredictable and rising tariff burdens, thanks in no small part to US President Donald Trump.  VW shares were already at their lowest levels in well over 10 years prior to Thursday's announcements, after months of difficult headlines and the ongoing plans to shed tens of thousands of jobs and reduce production capacities.  Perhaps as a result of this, the stock dipped briefly as markets opened and the news was published, but then started to rally as the day progressed. By midday in Frankfurt, VW shares had climbed by 2% compared to their prices at the start of trading on the DAX.  CEO Oliver Blume plans to shed around 100,000 jobs across the group, which includes the Audi and Porsche brands, in the coming years though a combination of layoffs and not replacing departing or retiring personnel.  Multiple factors are contributing to this. They include increased competition from Chinese manufacturers, falling revenues in China, changeable US auto tariffs under President Donald Trump, different staffing requirements when manufacturing electric cars and difficulties moving towards making and selling more electric cars at the pace once designated by political leaders.

Volkswagen logs Q3 operating loss of €5.86 billion on Porsche writedown
Europe
DW Economy

What Germany thinks of carmaker Audi's $4 billion deal with Trump

The luxury carmaker is set to open its first factory in the United States — a move Trump credits to his tariffs. DW examines the German reaction amid a massive auto industry cull at home. Audi hopes that its plans to build SUVs in the US can revive the company's fortunesImage: AFPAdvertisement1. What is Audi's $4 billion US investment plan? US President Donald Trump announced the investment on Saturday, during a campaign rally in Georgia, a key battleground state for his Republican Party in the midterm elections next week. Audi quickly confirmed the plan, saying it would build its first US factory near Macon, Georgia, costing around $4 billion (€3.6 billion) and creating some 4,500 jobs. The German automaker said construction would begin next year, with a planned annual production of up to 200,000 vehicles due to start in the early 2030s. The firm plans to build premium SUVs for the US market at the plant, marking a "long-term commitment" to what it said was "one of the world's most important premium markets." The US investment comes as German automakers face unprecedented pressure from China, rising costs and two conflicts. Backed by huge government subsidies, Chinese rivals have stolen a march in the transition to electric vehicles (EVs), scaling up production of new models that are fast gaining market share in a crowded global auto market. BMW, Mercedes-Benz and Audi's parent company, Volkswagen— the world's second-largest automaker — have all issued profit warnings in recent months as margins come under pressure. They've also announced major cost-cutting. VW is preparing to axe up to 100,000 jobs by 2030, while Audi's factory in Neckarsulm, which has around 15,000 staff, is one of four plants at risk of closure. Trump credited his 15% tariffs on European-made vehicles for Audi's investment, saying it "would not have happened without tariffs." While the commitment does feed into Trump's plan to bring manufacturing back to the United States from abroad, Audi said it was making the huge outlay for growth and resilience. “We have much greater ambitions for Audi in America," said the carmaker's CEO Gernot Döllner, who appeared alongside Trump at the Republican's campaign rally.

What Germany thinks of carmaker Audi's $4 billion deal with Trump
North America
Fortune

Forget the House and the Senate, the economy may hinge on state and local races in the midterm elections

Data centers have emerged as a national issue during this midterm election cycle, and candidates for the House and Senate have seized on it in their campaigns. But state and local officials actually have more sway over data center construction and energy infrastructure, so the winners of lower-profile races may hold the economy’s future in their hands. Hyperscalers have been spending hundreds of billions of dollars a year, with forecasts for 2027 topping $1 trillion. JPMorgan has estimated AI-related investment was responsible for about one-fifth of GDP growth over the past year. Analysts at ING believe AI will account for a third of growth in 2026. With Election Day just over a week away and early voting already in full swing in many states, expectations for big Democratic gains could weigh on the stock market, which has sold off in recent days on fears the AI boom will go bust. If there is a further stock slump, it will be because a “blue wave” at the state and local levels will usher in lawmakers opposed to data centers, Thierry Wizman, global FX and rates strategist at Macquarie, said in a note on Monday. “For the direction of the U.S. economy, the composition and direction of governance at the state level may matter more than whether the Democrats ‘win’ the House or the Senate,” he added. That dynamic was on display on Tuesday, when Amazon canceled a plan to build data centers in Loudoun County, Virginia, after reaching an agreement with local officials amid widespread backlash from residents. Amazon Web Services bought property for the project in February for $427 million, but the purchase reportedly blindsided county leaders who were already growing uneasy with the explosion of data centers in recent years. Amazon vowed not to build data centers on the land and will repurpose most of it for mixed-use and residential development, while also donating 25 acres for a community arts center and recreational facility plus $5 million to a housing fund. And in Texas, another AI industry hot spot, Republican Gov. Greg Abbott has turned from a data center booster to a skeptic as he faces a tough re-election race against Democratic state representative Gina Hinojosa. Michael Pearce, chief U.S. economist at Oxford Economics, also observed that midterm races for state capitals and town halls represent a bigger risk to the data center buildout than what happens in Washington, D.C. The Trump administration has already used regulations and executive orders to facilitate construction, and any attempt to pass comprehensive legislation in Congress will be slow, he added.

Forget the House and the Senate, the economy may hinge on state and local races in the midterm elections