BUSINESS

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Tesla is recalling approximately 27,000 of its highly anticipated Cybertrucks due to an issue with the rearview camera, which poses a potential safety risk. According to a report filed with the National Highway Traffic Safety Administration (NHTSA), the rearview display in affected vehicles may take up to eight seconds to show the image when the truck is put in reverse. This delay far exceeds the two-second limit set by U.S. federal safety regulations and increases the risk of a collision.

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Google announced on Wednesday that it lodged a complaint with the European Commission against Microsoft. The complaint alleges that Microsoft engages in "anti-competitive" licensing tactics to compel customers to utilize its cloud service.

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Investment giant Fidelity has marked down its shares in X (formerly Twitter) by nearly 80% since Elon Musk's $44 billion acquisition in October 2022, implying a current valuation of approximately $9.4 billion for the social media platform.

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In a surprising turn of events, Coca-Cola has decided to discontinue its Spiced flavor just six months after its launch. Introduced in February 2024, Spiced was Coca-Cola’s first new permanent flavor in over three years. The beverage, which combined the iconic taste of Coca-Cola with a burst of raspberry and warm spices, was intended to cater to consumers’ growing appetite for bold and complex flavors.

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Tesla's third-quarter delivery figures have fallen short of analyst expectations, sparking concerns about the company's market position amid intensifying global competition. The EV pioneer reported delivering 462,890 vehicles in Q3 2024, representing a 6.4% increase from the previous quarter but failing to meet the consensus estimate of 469,828 vehicles, according to data from 12 analysts polled by LSEG.

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The world's biggest sportswear company, Nike, is set to make leadership changes as the boss is set to step down and his place taken by a veteran of the company.

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Volkswagen executives and employee representatives initiated crucial discussions on Wednesday regarding the carmaker's extensive cost-cutting measures. Thousands of workers protested, with unions strongly opposing the plans and promising staunch resistance.