BUSINESS

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Japanese auto giant Toyota predicted a 35 percent year-on-year drop in net profit for 2025-26 on Thursday, citing the impact of President Donald Trump's vehicle tariffs among other factors. The company, and other carmakers, have been among the most heavily impacted by the US president's multi-pronged assault on free trade, including tariffs on finished imported cars and auto parts.

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At the inaugural World Audio Visual & Entertainment Summit (WAVES) of May 1-4, 2025, in Mumbai, Netflix took center stage by emphasizing the shift in the creator-audience relationship. The conclave, which sought to position India as the world’s media and entertainment capital, had over 10,000 delegates from more than 90 countries, including top-level executives, content creators, government officials, and investors. Netflix was represented in terms of star power and intent, with its creator team and talent attending panels and speeches that touched on innovation in storytelling, talent development, and global distribution.

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German premium carmaker BMW said Wednesday it expects to override the impact of US tariffs over the coming year, and hopes to further mitigate their effects. CEO Oliver Zipse told reporters that BMW is actively lobbying for free trade and anticipates some success due to its extensive global presence.

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Microsoft has announced significant price increases for its Xbox consoles, citing rising development costs and challenging "market conditions." The increases vary by region, with the Xbox Series S going up by £50 to £299.99 in the UK. Prices in the US have seen even steeper rises, with the Series X increasing by between $100 and $130, depending on the model.

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Amazon MGM Studios has picked up the worldwide rights to The Beekeeper 2, the sequel to the 2024 action hit starring Jason Statham, in a deal reportedly over $50 million. The transaction is one of the biggest international film deals of the year and continues Amazon’s push to build up a library of franchise-driven content headed by veteran box office stars.

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Samsung Electronics reported a better-than-expected 21.7 percent rise in first-quarter net profit on Wednesday, as consumers rushed to buy smartphones amid the looming threat of US tariffs. The South Korean tech giant said it expects improved earnings in the second half if "uncertainties are diminished."

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US food delivery app DoorDash has announced an agreement to acquire its UK-based rival Deliveroo for £2.9 billion ($3.9 billion), a deal that will significantly expand its global presence. The acquisition, announced by the two companies Tuesday, is expected to create a delivery service operating in more than 40 countries, serving approximately 50 million monthly active users.