China’s Delivery Price War Gives Rise to a New Instant-Retail Battle
China’s fierce meal-delivery subsidy war may be losing steam, but it has permanently changed consumer expectations. After a year of heavy spending by Meituan, Alibaba and JD.com on discounts, free delivery and merchant incentives,...
Boeing Pays $3.1 Million FAA Fine Over Widespread Safety Violations
Boeing has paid a $3.1 million fine to the U.S. Federal Aviation Administration (FAA) over a series of safety violations, including conduct connected to the January 2024 Alaska Airlines 737 MAX 9 mid-air emergency....
Shell and Chevron Sign Preliminary Deal for Ghana Deepwater Oil Block
Oil majors Shell and Chevron have signed a non-binding memorandum of understanding with Ghana’s national oil company for the potential acquisition of production rights in the South Deepwater Tano Cape Three Points oil and...
Uber to Cut 3,300 Jobs as Robotaxi Competition Reshapes Ride-Hailing Business
Uber Technologies plans to cut about 3,300 jobs, or roughly 10% of its workforce, in its largest round of layoffs since the COVID-19 pandemic. CEO Dara Khosrowshahi said the restructuring will simplify the company’s...
Yen Extends Gains as Traders Price In Faster BOJ Rate Hikes
The yen extended its gains on Thursday after a sharp rally in the previous session, reaching 157.545 per dollar in Asian trading, its strongest level in nearly a month. The currency rose 0.9% overnight,...
France Imposes New Fees on Shein, Temu to Curb Fast Fashion
France has begun imposing new fees on ultra-fast-fashion products sold by e-commerce platforms including Shein and Temu, in a bid to curb overproduction and reduce the environmental impact of cheap clothing. The charges, which...
Ford Recalls 148,663 Mustang Vehicles in U.S. Over Power Loss Risk
Ford is recalling 148,663 vehicles in the United States after a wiring harness issue was found to potentially cause a loss of driver power and disable critical functions, including headlights and the windshield washing...
OpenAI Rejects Apple’s Trade Secret Theft Allegations
OpenAI has denied Apple’s allegations that former employees stole trade secrets, arguing that the iPhone maker has failed to show that any confidential information was misappropriated. In a filing in a U.S. District Court...
Australian Judge Considers Giving Expert Direct Access to Tesla Engineering Systems
An Australian judge has indicated he may order Tesla to give an independent expert direct access to its internal engineering platforms as part of a class action involving around 10,000 Tesla owners. Federal Court...
Yorkville America Eyes Acquisition as It Expands Beyond Truth Social ETFs
Yorkville America, the asset manager behind President Donald Trump’s Truth Social exchange-traded funds, is nearing an acquisition that would significantly broaden its investment-product lineup, CEO Steve Neamtz told Reuters. The transaction, involving an institutional...