Business

OpenAI fires back at Elon Musk bid to block for-profit conversion

Elon Musk sees massive surge in wealth amid business growth

Tesla CEO Elon Musk has reached another major milestone, with his net worth surpassing $400 billion. This achievement comes on the back of a significant rise in Tesla's stock this year and the growing valuation of his space exploration company, SpaceX.

U.S. small-business confidence soars post-election as optimism jumps

U.S. small-business confidence reached its highest level in nearly 3-1/2 years in November, driven by post-election euphoria. According to the National Federation of Independent Business (NFIB), the Small Business Optimism Index surged as owners became more optimistic about the economy and expansion

Boeing to lay off 396 employees

Boeing to cut 396 jobs in Washington by February as part of a 10% workforce reduction, following cost-cutting measures after a factory workers' strike in September.

Google says it has cracked a quantum computing challenge with new chip

Google's new Willow chip marks a breakthrough in quantum computing, solving problems in minutes that would take classical computers billions of years, with advanced error correction paving the way for practical applications in medicine, AI, and beyond.

Australian business activity hits post-pandemic low in November

Australian business activity fell to its lowest since the pandemic in November as tough conditions hit manufacturing and retail. NAB’s survey showed declines in sales, profitability, and employment intentions, while confidence turned negative amid ongoing economic pressures.

VW workers step up strikes in factory shutdown standoff

Volkswagen faces intensified strikes at German plants as workers protest wage cuts and closures amid union talks. With trust eroded, unions demand concessions, warning of longer strikes, while VW cites cost-cutting as essential to compete with cheaper Asian rivals.

China gears up for winter tourism boom

Growing number of tourists are surging China to experience its breathtaking snowy landscapes.

Oil edges down as extended OPEC+ supply cuts highlight weak demand

Currency markets on edge amid political turmoil, eye US jobs report

Major currencies remained jittery on Friday as markets considered the impact of a politically turbulent week that saw the collapse of France's government and the brief imposition of martial law in South Korea.

China's hybrid exports rise amid Europe EV tariffs

Chinese automakers are boosting hybrid exports to Europe, bypassing EV tariffs and offering affordable models to meet rising demand amid growing competition in the market.

Nissan CEO faces pressure amid decline in sales

Nissan CEO Makoto Uchida faces mounting pressure to revive the automaker after missed hybrid opportunities and falling sales in key markets. Major cuts and restructuring plans are underway.

Bitcoin tops $100,000 as bets on Trump fuel crypto euphoria

Bitcoin surpasses $100K, marking a new era for crypto as institutional adoption and regulatory clarity drive momentum. Investors eye a pro-crypto U.S. administration to cement its financial mainstream status.

Volkswagen sells Xinjiang plant to focus on strategic growth in China’s evolving automotive market

Volkswagen, a key player in the global automotive industry, has finalized the sale of its manufacturing plant and testing facilities in Xinjiang, China, marking a significant shift in its operational strategy.

Apple accused of silencing workers, spying on personal devices

Global arms sales surge amid rising conflicts and geopolitical tensions

Global arms sales surged 4.2% in 2023, reaching $632 billion, driven by conflicts, rearmament, and geopolitical tensions, a SIPRI report reveals.

Volkswagen workers to go on warning strikes across Germany

Volkswagen workers in Germany will stage warning strikes over layoffs, wage cuts, and plant closures as talks with labour union IG Metall fail to reach a resolution.

South Korea export growth slows to 14-month low as US demand weakens

Trump warns BRICS nations against replacing US dollar

Trump warns BRICS nations against creating a rival currency to the U.S. dollar, threatening 100% tariffs. Putin praises BRICS as a pillar of a new world order.