BUSINESS

Photo Credit: Getty Images

The 1954 Mercedes-Benz W196 R Stromlinienwagen, the fabled Formula 1 car raced by Juan Manuel Fangio and Stirling Moss, has broken all records in an auction that took place on February 1, 2025, fetching £42.75 million, or €51.155 million. The highest price ever paid for a Grand Prix car came at an auction by RM Sotheby’s at the Mercedes-Benz Museum in Stuttgart, Germany.

Photo Credit: Getty Images

On Wednesday, Meta, the parent company of Facebook, Instagram, and WhatsApp, revealed impressive financial results for 2024, showcasing substantial growth in both profits and revenue.

Photo Credit: Getty Images

Samsung Electronics has forecast limited earnings growth for Q1 2025, citing weak conditions in the memory chip market and intensifying competition with rivals like Apple and SK Hynix. The South Korean tech giant reported a 29% drop in Q4 2024 operating profit to $4.48 billion.

Photo Credit: Getty Images

Boeing concluded a challenging 2024 with a substantial $3.9 billion fourth-quarter loss, attributed in part to a seven-week labor strike that disrupted production. Despite these setbacks, the company's stock rose on investor confidence in new CEO Kelly Ortberg's turnaround strategy. Boeing officials have indicated their intention to ramp up 737 MAX production and clear existing inventory during 2025, expecting this to positively impact free cash flow.

Photo Credit: Getty Images

On Wednesday, Tesla revealed that its profits for the fourth quarter were lower than expected, primarily due to a drop in vehicle prices. The company reported earnings of $2.3 billion, marking a significant 71 percent decline from the same period last year, which had included a one-time tax benefit. While revenues rose slightly by two percent to $25.7 billion, they did not meet analyst forecasts. Looking ahead, Tesla anticipates a recovery in volume growth by 2025.