BUSINESS

MERCEDES-BENZ SELLS ITS STAKE AT NISSAN

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In a move that sent Nissan Motor shares tumbling, the pension trust of German automaker Mercedes-Benz has sold its entire 3.8% stake in the Japanese company for 47.83 billion yen ($324.65 million), a source with direct knowledge of the transaction revealed on Tuesday. Nissan shares closed more than 6% lower following Mercedes-Benz's Monday announcement, the stock's biggest single-day decline since early July.

SONY TO INCREASE PLAYSTATION PRICES IN US

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On Wednesday, Sony announced a $50 price increase for PlayStation 5 consoles in the United States, citing a "challenging economic environment." Isabelle Tomatis, vice president of global marketing at Sony Interactive Entertainment, stated in a post, "Like many global companies, we are navigating a difficult economic landscape." The revised prices for the PS5 will be $550, while the "Digital Edition" will cost $500, and the Pro version will be priced at $750, as noted by Tomatis.

KEURIG DR PEPPER TO BUY PEET'S COFFEE OWNER IN $18 BILLION DEAL

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Keurig Dr Pepper said Monday it will buy Peet’s Coffee owner JDE Peet’s in a deal worth about $18 billion (15.7 billion euro).

SOFTBANK SHARES DROP OVER 5% AFTER ANNOUNCING $2 BILLION INTEL INVESTMENT

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SoftBank Group's shares fell sharply on Tuesday, slipping more than 5% and ending a nine-day winning streak, after the Japanese investment firm revealed a $2 billion equity injection into Intel.

NIKE ENTERS TRAIL RUNNING WITH ACG ULTRAFLY

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Nike is taking a bold step into the outdoor recreation market with the launch of its new ACG Ultrafly trail running shoe. Scheduled to debut at the Ultra-Trail du Mont-Blanc ultramarathon in France, the release signals a major push for Nike's ACG sub-brand, historically associated more with lifestyle fashion than high-performance sport.

SOHO HOUSE RETURNS TO PRIVATE OWNERSHIP IN $2.7 BILLION DEAL

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The iconic Soho House private members' club, once hailed as a sanctuary for creativity and exclusivity, is returning to private hands in a $2.7 billion acquisition led by MCR Hotels and joined by actor and investor Ashton Kutcher.

FORMER TWITTER WORKERS REACH SETTLEMENT WITH MUSK AND X

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Former employees of Elon Musk's social media company X, who sued for $500 million in severance pay, have reached a tentative settlement with Musk and the company. The parties announced the agreement in a court filing on Wednesday jointly requesting the US appeals court in San Francisco to postpone an upcoming hearing to allow time to settle the paperwork.

SWATCH APOLOGIZES FOR CONTROVERSIAL AD AFTER UPROAR

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Swiss watchmaker Swatch is facing a public relations crisis after an advertisement featuring a model pulling the corners of his eyes drew widespread condemnation from Chinese social media users, prompting the company to issue an apology and withdraw the advert. Critics argued that the pose resembled the "slanted eye" gesture, a historically racist caricature used to mock people of Asian descent, and called for a boycott of Swatch products in response.