Your Evening Briefing: Apple Retreats From the EV Landscape

Apple is said to be canceling a decade-long bid to build an electric car, abandoning one of the most ambitious forays in the history of the company. Apple made the disclosure internally Tuesday, surprising the nearly 2,000 employees working on it. The decision to ultimately wind down the initiative is a bombshell, ending a multibillion-dollar effort called Project Titan that would have vaulted Apple into a whole new industry. The tech giant started working on a car around 2014, setting its sights on a fully autonomous electric vehicle with a limousine-like interior and voice-guided navigation. But now it’s all over.

Canadian pension funds have been among the world’s most prolific buyers of real estate, starting a revolution that inspired retirement plans around the globe to emulate them. Now the largest of them is taking steps to limit its exposure to the most-beleaguered property type— office buildings.