BUSINESS

FERRARI TO MAKE FIRST FULLY ELECTRIC CAR

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Ferrari unveiled details of its first electric sports car on Thursday, announcing the four-seat coupe, dubbed "Elettrica," will boast over 1,000 horsepower and a range of 530 kilometers (329 miles).

RITE AID CLOSES DOWN ALL ITS STORES AMID BANKRUPTCY

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From its peak as one of the largest pharmacy chains in the US with 5,000 stores, Rite Aid's fortunes have dramatically reversed. Founded in 1962, the company has faced financial struggles and a Justice Department investigation in recent years. Following bankruptcy filings in October 2023 and May 2025, data on Friday showed that fewer than 100 stores remain.

SOFTBANK ACQUIRES ABB ROBOTICS FOR $5.4BILLION IN MAJOR PUSH FOR AI

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SoftBank Group has struck a landmark $5.4 billion deal to acquire the robotics division of Swiss engineering giant ABB, marking its most ambitious move yet to merge robotics with artificial intelligence in what founder Masayoshi Son calls the age of "Physical AI."

SHEIN TO OPEN FIRST PERMANENT OUTLETS IN FRANCE

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In a significant move, Shein, the Asian fast-fashion leader, is branching into traditional retail by opening its first permanent physical stores in France. Initial locations will be department store concessions in Paris, with further expansion planned to Dijon, Reims, Grenoble, Angers, and Limoges. Shein highlighted France's stature as an "influential global fashion market" as the key factor in its decision. Though it has operated temporary pop-up stores before, this represents a new phase for the digitally native brand.

JOHNSON & JOHNSON ORDERED TO PAY $966 MILLION IN TALC CANCER CASE

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A Los Angeles jury has ordered Johnson & Johnson to pay a staggering $966 million to the family of Mae Moore, a California woman who died in 2021 from mesothelioma, a rare and aggressive form of cancer linked to asbestos exposure. The decision marks one of the largest verdicts against the company to date and adds to the mounting legal challenges it faces over its talc-based products.

ELECTRONIC ARTS BOUGHT IN UNPRECEDENTED $55BN DEAL

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Electronic Arts (EA), one of the world’s most recognizable gaming companies, has agreed to a monumental $55 billion (£41bn) sale — a deal set to become the largest leveraged buyout in history.

UK BECOMES BYD'S BIGGEST MARKET OUTSIDE CHINA

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The UK has emerged as BYD's largest market outside China, driven by an astonishing 880% increase in sales during September. The Chinese carmaker sold 11,271 vehicles last month, primarily the plug-in hybrid version of its Seal U SUV. The UK's attractiveness stems from its absence of tariffs on Chinese electric vehicles, a factor that distinguishes it from other major markets such as the European Union and the United States.

BOEING SIGNS DEAL WITH TURKISH AIRLINES

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On Friday, Turkish Airlines announced an agreement to purchase up to 225 Boeing aircraft, coming just a day after President Recep Tayyip Erdogan’s first visit to the White House since 2019. During the more than two-hour meeting between Erdogan and President Donald Trump, Ankara expressed hope that Washington might lift sanctions imposed since 2020, which have prevented Turkey from acquiring American F-35 fighter jets. These sanctions were introduced in response to Turkey's acquisition of the Russian S-400 missile defense system.