BUSINESS

SOFTBANK REVEALS $25 BILLION BID TO INVEST IN OPENAI AMID STARGATE PROJECT AND AI RIVALRIES

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After the deepseek shift in the artificial intelligence landscape, SoftBank is negotiating a potential investment of up to $25 billion in OpenAI, a move that would position the Japanese conglomerate as the AI firm's largest financial backer. This development comes amid intensifying competition in the global AI race and follows recent market turbulence triggered by unexpected advances from Chinese competitors.

ROLLS-ROYCE AND THE £9 BILLION NUCLEAR SUBMARINE DEAL-UNITY OR SPLENDID

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In a deal that could make even the most hardened defense analyst crack a smile, the UK Ministry of Defence has agreed to a record-breaking £9 billion contract with Rolls-Royce, the automotive company turned nuclear powerhouse. This deal, dubbed "Unity," isn't just about powering up submarines, it's about revamping Britain's defense sector and ensuring our submarines don't run on last season's batteries.

BOEING HOPES TO RECOVER IN 2025 AFTER BIG LOSS IN 2024

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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.

APPLE SUED FOR USING CANCER-LINKED 'FOREVER CHEMICALS' IN WATCH BANDS

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Apple faces a lawsuit alleging its smartwatch bands contain high levels of toxic "forever chemicals," or PFAS, linked to severe health risks. The lawsuit, filed in the Northern District of California, focuses on the Sport Band, Ocean Band, and Nike Sport Band, which are reportedly made from fluoroelastomer, a material resistant to sweat and oils. Plaintiffs claim Apple concealed the presence of PFAS in these bands, violating consumer protection laws.

HSBC RESTRUCTURES INVESTMENT BANKING OPERATIONS TO FOCUS ON ASIA AND MIDDLE EAST

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HSBC announced plans on January 28, 2025, to wind down its mergers and acquisitions (M&A) and equities businesses across Europe and the Americas, marking its largest investment banking retrenchment in decades. The move accelerates the bank's pivot toward Asian markets, where it generates most of its profits.

SAMSUNG UNVEILS GALAXY S25 SERIES WITH AI-DRIVEN FEATURES AND SLIMMER EDGE MODEL, CHALLENGES APPLE'S NEXT MOVE

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Samsung Electronics has unveiled its latest Galaxy S25 smartphone series, signaling a bold strategic pivot to reinvigorate its competitive position in the global mobile market. The new lineup, powered by Qualcomm's advanced chips and Google's Gemini AI engine, represents the company's most ambitious attempt to leverage artificial intelligence as a key differentiator.

TESLA AND BMW CHALLENGE EU TARIFFS ON CHINA-MADE EVS IN COURT

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Tesla and BMW have filed lawsuits against the EU's executive body over recently imposed tariffs on electric vehicles manufactured in China, challenging the trade policies. The legal action, filed with the EU's General Court last week, marks an escalating tension between major automotive manufacturers and European regulators.

MANSORY GRONOS 6X6: THE LUXURY OFF-ROADER

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MANSORY, the well-renowned German luxury car modification firm, has now brought into view a six-wheeled behemoth, the “MANSORY Gronos 6x6,” based on the Mercedes-Benz G-Class (W463A). It is limited to a run of just 10 units worldwide and heaves off-road capability and luxury to hitherto unseen levels.