BUSINESS

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The energy giant BP, has announced plans to eliminate approximately 7,700 positions globally, marking one of the company's largest workforce reductions in recent years. CEO Murray Auchincloss revealed that 4,700 internal roles and over 3,000 contractor positions will be cut as part of a broader strategy to streamline operations and reduce costs.
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Tesla's full-year auto sales fell short of the company's forecast, as reported Thursday, indicating increased competition in the electric vehicle market, particularly in China. While the company achieved a record 495,570 deliveries in the fourth quarter, it missed Wall Street expectations, resulting in a full-year total of just under 1.8 million vehicles, approximately one percent lower than 2023 sales, despite a previous projection of "slight growth."

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The Securities and Exchange Commission launched a significant legal probe against Elon Musk on January 14, 2025, alleging he deliberately delayed disclosing his Twitter ownership to acquire additional shares at artificially depressed prices. The federal lawsuit, filed in Washington DC, claims this delay cost other shareholders at least $150 million.
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As the new trading year begins, oil markets show renewed optimism fueled by China's economic outlook. On Thursday, Brent crude rose 1.6% to $75.81 a barrel, while West Texas Intermediate (WTI) gained 1.7% to $72.92. This surge comes after Chinese President Xi Jinping pledged to bolster growth through proactive policies in his New Year address.  
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Alibaba Group is making a  strategic move by selling its entire stake in Intime, a leading Chinese department store chain, marking a significant pivot in its retail strategy. The company will incur a substantial loss of 9.3 billion yuan (US$1.3 billion) in the transaction, selling its 99% stake to a consortium led by Youngor Group and Intime's management team.
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Shoppers in China are enjoying rare discounts on Apple's flagship iPhones, signaling the tech giant's response to growing competition and shifting consumer habits. From January 4, Apple launched a four-day promotion, offering discounts of up to 500 yuan ($68.50) on its newest models, including the iPhone 16 Pro and Pro Max.

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In their latest launch, Meta Platforms has unveiled groundbreaking features for its Ray-Ban smart glasses, marking a pivotal moment in wearable technology's evolution. The v11 software update introduces live AI interaction, real-time translation, and Shazam integration, positioning these glasses at the forefront of immersive digital experiences.
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More Articles ...

  1. SOFTBANK CEO AND TRUMP ANNOUNCE $100 BILLION U.S. INVESTMENT TO BOOST AI AND INFRASTRUCTURE
  2. LAMBORGHINI DELAYS FIRST ELECTRIC VEHICLE LAUNCH UNTIL 2029
  3. STANLEY RECALLS 2.6 MILLION MUGS FOLLOWING BURN INJURIES
  4. ALBERTSONS TERMINATES $25 BILLION MERGER WITH KROGER, FILES LAWSUIT
  5. COFFEE PRICES HIT RECORD HIGH
  6. BOEING RESUMES PRODUCTION AT SEATTLE PLANTS
  7. NVIDIA PROBED FOR 'VIOLATING' CHINA'S ANTI-MONOPOLY LAW
  8. GERMAN VOLKSWAGEN WORKERS STRIKE AGAIN
  9. MICROSOFT FACES CLASS ACTION CASE OVER SOFTWARE PRICES
  10. INTEL CHIEF EXECUTIVE RESIGNS
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