BUSINESS

ELLIOTT TAKES $2 BILLION STAKE IN WORKDAY, VOICES SUPPORT FOR COMPANY LEADERSHIP

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Activist investment firm Elliott Management announced on Tuesday that it has acquired a stake valued at more than $2 billion in Workday, a leading provider of human resources software, while expressing confidence in the company's current leadership team.

KERING DELAYS FULL VALENTINO ACQUISITION AMID DEBT STRUGGLES

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French luxury group Kering has taken a cautious step in its efforts to manage its financial future, delaying the full acquisition of Italian fashion house Valentino until at least 2028. The company, owner of Gucci, had previously struck a deal in 2023 to purchase Valentino from the Qatar-backed Mayhoola fund, but under a revised agreement, both parties agreed to push back the timeline.

ELON MUSK INVESTS $1BN IN TESLA SHARES

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Tesla shares jumped more than 6% on Monday after Elon Musk announced he had purchased approximately $1 billion (£735 million) worth of the company's stock. The move by Musk, who already held a 13% stake, is being seen as a strong signal of confidence in the electric car maker, which has struggled to gain ground this year, especially with its plans to invest in robotaxis, automation and artificial intelligence (AI).

NEBIUS STOCK SKYROCKETS 40% AFTER STRIKING $19.4 BILLION AI DEAL WITH MICROSOFT

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Nebius Group shares surged on Tuesday after the Amsterdam-based artificial intelligence infrastructure firm announced a landmark partnership with Microsoft. The multi-year agreement, valued at $19.4 billion, will see Nebius supply cloud computing power to support Microsoft's rapidly expanding AI operations.

ALPHABET HITS $3 TRILLION MILESTONE, JOINS TECH ELITE

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Alphabet, Google's parent company, has officially crossed the $3 trillion market capitalization mark, cementing its place among the world's most valuable corporations. The achievement puts Alphabet alongside Apple, Microsoft, and Nvidia in the exclusive "$3 trillion club."

JLR UK FACTORIES TO REMAIN SHUT AFTER CYBER ATTACK

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Jaguar Land Rover (JLR) is still grappling with the fallout from a cyberattack that struck its systems over a week ago, with UK production facilities now slated to remain closed until at least Wednesday. The attack has impacted car plants at Halewood and Solihull, its Wolverhampton engine facility, and additional production sites in Slovakia, China, and India, forcing a widespread operational shutdown.

FROM NOODLES TO SNACKS, RETAILERS CASH IN ON ‘KPOP DEMON HUNTERS’

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After conjuring up a magical streaming hit, Netflix’s animated film “KPop Demon Hunters” is now casting a spell over store shelves, with retailers racing to capture consumer excitement through themed snacks and meals.

SHARES FALL AT LULULEMON DUE TO TARIFF IMPACT

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Lululemon shares plummeted on Thursday after the company warned that President Donald Trump's tariffs and the closure of a duty-free loophole would significantly impact its business. The Canadian company estimates the new US levies and the end of the "de minimis" exemption will cost it roughly $240 million this year. The now-closed exemption allowed companies to ship online orders worth $800 or less into the US duty-free.