(Brands & Consumers)
Toyota has secured its position as the world’s largest automaker for the fourth consecutive year, outperforming its German rival, Volkswagen, despite facing an expanding list of challenges. The Japanese manufacturer announced record sales of 11.2 million vehicles worldwide in 2023, marking a 7.2% increase from the previous year. While Toyota celebrates its sales achievement, the…
In a strategic move aimed at reducing costs, UPS has revealed plans to cut 12,000 jobs, primarily targeting manager and contractor positions. The decision comes as the company seeks to save $1 billion, addressing challenges and disappointing sales projections for the upcoming year. UPS has adjusted its sales outlook for the year, anticipating global revenue…
Elon Musk, through his startup Neuralink, announced a groundbreaking development as the company successfully implanted a chip in a human brain for the first time. Musk shared the news on his X platform, revealing that the procedure took place on Sunday, and the patient was reportedly in good recovery. While Musk’s disclosure marks a significant…
Starbucks is set to introduce its Oleato lineup, featuring extra virgin olive oil-infused drinks, across its US and Canada locations starting Tuesday. The expansion follows a limited launch in select cities last year, despite some customers expressing dissatisfaction with the beverages causing discomfort. Oleato comprises two offerings: an oat milk latte infused with extra virgin…
Amazon Prime Video has undergone a notable change for its members, as starting today, viewers may observe the inclusion of “limited” advertisements in shows and movies. To access an ad-free experience, Prime members will have the option to pay an additional $2.99 per month, a move announced by Amazon in September. The introduction of ads…
In a significant development, Toyota has announced the suspension of shipments for several models, including the popular Hilux truck and Land Cruiser 300 SUV. This decision comes in the wake of irregularities discovered in certification tests for diesel engines developed by Toyota’s affiliate, Toyota Industries. A special investigative committee identified anomalies during horsepower output testing…
In a surprising turn of events, Amazon and iRobot have mutually called off their anticipated $1.7 billion acquisition deal, citing various regulatory obstacles. Following this announcement on Monday, iRobot disclosed plans to lay off 31% of its workforce, amounting to around 350 employees. Founder Colin Angle will step down as CEO, with Glen Weinstein appointed…
Fast fashion giant Boohoo is set to close its distribution centre near Daventry, Northamptonshire, less than three years after its 2021 opening. The company attributed the closure to the recent establishment of a new facility in the United States and a significant £150 million investment in its Sheffield location. Approximately 400 employees will be affected…
PepsiCo is set to delight soda enthusiasts by resurrecting the beloved MTN Dew Baja Blast, marking the iconic flavour’s 20th anniversary. The tropical-lime concoction has cultivated a dedicated fan base over the years and is poised to make a triumphant return to store shelves nationwide. Unlike its competitor Coca-Cola, which has yet to offer an…
In a celebration of three decades of innovation, adidas has unveiled the Predator 24, a cutting-edge football boot that seamlessly merges 90s nostalgia with contemporary performance features. This new Predator pays homage to its roots while catering to the demands of today’s elite goalscorers. The prestigious Predator 24 will be sported by some of the…
In a groundbreaking move, World Wrestling Entertainment (WWE) has officially inked a colossal partnership with streaming giant Netflix. The collaboration, valued at $5 billion over the next decade, will bring WWE’s flagship weekly wrestling program, Monday Night Raw, to the Netflix platform, starting from January 2025. The streaming service will cater to viewers in the…
In a surprising turn of events, Lamine Yamal, the rising star in international football, may be on the brink of changing his sponsorship allegiance from Nike to Adidas. The young athlete, who has been a prominent figure on and off the field, is reportedly in talks with Adidas, with the German sportswear giant offering an…
Reality TV star and beauty mogul Kim Kardashian has expressed her desire for her children, particularly her daughters, to potentially run her beauty brand in the future. Kardashian, 43, is set to launch a new makeup line under her SKKN BY KIM brand, and she envisions her offspring playing a role in the brand’s future….
After a four-year absence, the immensely popular video game Fortnite is making a comeback to iPhones, thanks to a new EU law aimed at enhancing competition. Epic Games, the developer of Fortnite, will now be permitted to operate its own app store on Apple devices. Presently, iPhone users can only download apps from Apple’s official…
Avon, the renowned beauty company, is facing scrutiny for maintaining business operations in Russia despite the ongoing conflict in Ukraine. The BBC investigation has revealed that Avon is actively recruiting new sales agents in Russia and continuing production in a sizable plant located in the Moscow region. The 137-year-old beauty company, headquartered in the UK,…
MacKenzie Scott, the philanthropist and ex-wife of Amazon founder Jeff Bezos, has reportedly sold nearly 65.3 million Amazon shares in the past year, amounting to a value exceeding $10 billion, as revealed in recent filings. Following her divorce from Jeff Bezos in 2019, Scott emerged as the world’s wealthiest woman, acquiring about 19.7 million Amazon…
Reality TV star and entrepreneur Kim Kardashian has unveiled her latest venture as the brand ambassador for luxury fashion house Balenciaga. The 43-year-old icon shared the news on her social media platforms, expressing her excitement about the partnership and highlighting her longstanding connection with the esteemed fashion brand. In her statement, Kim acknowledged Balenciaga’s influence…
Tesla witnessed a sharp decline in its shares, plummeting by 12% on Thursday and erasing a staggering $80 billion in market value. The dip followed the electric car giant’s cautionary statements about decelerating growth in electric car sales and the looming threat posed by Chinese competitors. Closing at its lowest level since December 2022, Tesla’s…
Apple has announced a significant policy shift that will allow alternative app stores to operate on iPhones purchased in the European Union, starting from March. Currently, Apple users are limited to downloading apps exclusively from the company’s own App Store. This move is in response to regulatory changes, particularly the EU’s Digital Markets Act, which…
A federal judge in Brazil has issued a landmark ruling, instructing mining giants BHP, Vale, and their Samarco joint venture to pay 47.6 billion reais ($9.67 billion) in damages for the catastrophic dam burst in 2015. The collapse of the Fundão dam in the southeastern region of Brazil led to a devastating mudslide that claimed…
In the aftermath of Microsoft’s monumental $69 billion merger deal with Activision-Blizzard, the tech giant’s gaming division is set to lay off nearly 2,000 employees, according to a memo from Xbox chief Phil Spencer. The memo, verified by Microsoft, outlines the company’s intention to reduce its workforce by 1,900 out of the current 22,000 staff…
In a seismic shakeup, Vince McMahon, the iconic figurehead of professional wrestling, stepped down from his role as the executive chairman of the board of directors at TKO Group Holdings, WWE’s parent company. This abrupt resignation follows a federal lawsuit filed by former employee Janel Grant, accusing McMahon and another ex-executive of serious sexual misconduct,…
In a recent interview, HP CEO Enrique Lores defended the company’s ink subscription model and firm policy of mandating the use of its own cartridges, stating that customers opting for alternatives are considered “bad investments” for the company. HP has consistently urged users not to turn to third-party alternatives for ink cartridges, implementing features like…
In an era dominated by feature-rich smartphones, Minimal, a company aiming to counter the digital overload, has unveiled the “Minimal Phone.” The device is designed for users seeking efficiency and simplicity, boasting a full QWERTY physical keyboard and an E-Ink display known for reducing eye strain and promoting healthy sleep. Resembling a modern, low-end BlackBerry,…
In a significant legal development, UK billionaire Joe Lewis, the owner of Tottenham Hotspur football club, has pleaded guilty to charges of insider trading in a United States court. The 86-year-old, who is associated with the Tavistock Group, faced accusations of sharing confidential information about his companies with private pilots, friends, personal assistants, and romantic…
Netflix experienced a significant surge in new subscriptions at the end of last year, driven by the company’s efforts to crack down on password-sharing. The streaming giant added over 13.1 million subscriptions in the last quarter of 2023, marking the highest quarterly growth since 2020. The increase in sign-ups follows Netflix’s decision to implement measures…
In a historic moment on Wednesday, Microsoft became the second company ever to reach a staggering valuation of over $3 trillion, propelled by the ongoing artificial intelligence boom that propelled its stock to new heights. Surging by nearly 1.5% to approximately $405 per share, Microsoft’s market capitalization exceeded $3 trillion, following in the footsteps of…
In a surprising turn of events, Tesla, once the leader in global electric vehicle (EV) sales, faced a setback as Chinese automaker BYD claimed the top spot in the fourth quarter of 2023. The competition from Chinese electric car brands has led Tesla to revise its ambitious sales targets, causing a 7.5% drop in Tesla…
As Apple navigates through the early weeks of 2024, a series of formidable challenges loom on the horizon, casting shadows on the tech giant’s path. From sales struggles in China to patent disputes, Apple faces a complex landscape, and analysts weigh in on the company’s ability to overcome these hurdles. Sales Woes in China A…
EquiLend, a prominent Wall Street firm processing trillions of dollars in securities transactions monthly, has fallen victim to a cyberattack, disrupting some of its systems, the company confirmed on Wednesday. Owned by major financial institutions including Goldman Sachs, JPMorgan, BlackRock, and Bank of America, EquiLend issued a statement to CNN, revealing that it may take…
As Netflix continues to assert its dominance in the streaming industry, investors are closely watching the company’s performance in 2024. The streaming giant, often hailed as the winner of the “streaming wars,” is set to report its fourth-quarter earnings, offering insights into its financial outlook and key strategic moves. Here are the pivotal questions on…
A French regulator, the CNIL (French Data Protection Authority), has fined Amazon’s French warehouse operator, Amazon France Logistique, €32 million ($35 million) for implementing an “excessively intrusive” surveillance system to monitor the activities of its workers. The CNIL stated that Amazon provided warehouse staff with scanners that meticulously recorded periods of inactivity and the speed…
In a disturbing case of mistaken identity involving facial recognition technology, a Texas man, Harvey Murphy Jr., is pursuing a $10 million lawsuit against Macy’s and the parent company of Sunglass Hut, EssilorLuxottica. The lawsuit alleges that the companies relied on error-prone facial recognition tools, leading to Murphy’s wrongful arrest for an armed robbery he…
In a significant move affecting its global workforce, Riot Games, the developer behind popular video games like “League of Legends” and “Valorant,” is set to lay off approximately 11% of its staff worldwide. The decision, announced by the Los Angeles-based company on Monday, comes as Riot Games, owned by Chinese tech giant Tencent, cites the…
In a rare move, oil giant ExxonMobil has filed a lawsuit against climate activist investors, seeking to block their proposed climate resolution from reaching a vote at the upcoming annual investor meeting. The legal action targets Follow This and Arjuna Capital, two entities advocating for an acceleration of greenhouse gas emission reductions by Exxon. Exxon…
Amidst persistent rumours and speculation, the prospect of the Nintendo Switch 2 hitting the market in 2024 seems increasingly likely, fueled by an influx of developers reportedly working on games for the anticipated console. While Nintendo has yet to provide official confirmation, the surge in developer involvement suggests significant progress towards the successor of the…
As the Digital Markets Act (DMA) gears up to take effect in March 2024, Google is proactively altering its approach to search results and other products in compliance with the impending European Union legislation. The DMA, designed to foster fair and open digital markets, aims to curb the influence of major tech companies like Alphabet…
In a recent Instagram post, Meta CEO Mark Zuckerberg revealed the company’s strategic move to heavily invest in Nvidia hardware and other artificial intelligence (AI) initiatives before the close of 2024. Zuckerberg outlined Meta’s commitment to advancing open-source artificial general intelligence (AGI) capable of supporting a wide array of applications, from productivity and development to…
Renowned rapper Kendrick Lamar has collaborated with luxury fashion house Chanel to unveil a new song featured in a captivating short film. On Saturday (January 20), Chanel released a mini-movie starring actress Margaret Qualley, accompanied by the soundtrack crafted by the Compton native. The short film aims to build anticipation for an upcoming visual package…
Music streaming giant Spotify has launched a scathing critique against Apple for imposing new transaction fees of up to 27% in the US, labelling it as “outrageous” and accusing the tech giant of prioritizing profits over fair competition. Apple recently announced that app developers could sell products outside its store, but only if they continued…
The European Union’s competition watchdog is poised to block Amazon’s proposed takeover of vacuum cleaner manufacturer iRobot, according to sources reported by the BBC. This development deals a setback to the tech giant, which had received approval from the UK government’s competition watchdog for the acquisition. The UK’s Competition and Markets Authority (CMA) previously cleared…
Recent data from online job platforms Indeed and LinkedIn is signalling a potential slowdown in the robust US labour market that has characterized the past few years. According to Nick Bunker, Indeed’s economic research director for North America, total job postings on Indeed have witnessed a more than 15% decline since the beginning of 2023….
National Student Esports (NSE) has officially confirmed the renewal of its multi-year partnership with Monster Energy, solidifying the energy drink company’s status as the official energy drink partner of the British University Esports Championship (BUEC). Since the partnership’s inception in 2019, Monster Energy has played a pivotal role in supporting the BUEC, becoming a key…
The fate of Sports Illustrated hangs in the balance as the publisher of the iconic magazine and website has reportedly laid off the majority, if not all, of its guild-represented staff, according to statements from its union. In a memo addressed to staff, the magazine’s publisher confirmed the layoffs, stating that it is “laying off…
Online home goods retailer Wayfair is set to lay off 1,650 employees, equivalent to 13% of its global workforce, as the company faces challenges in sustaining its earlier success during pandemic lockdowns. CEO Niraj Shah, who recently gained attention for urging employees to work harder, acknowledged in an open letter posted on Friday that Wayfair…
In a visually stunning move, over 5,000 electric vehicles from Chinese automaker BYD were loaded onto the massive “BYD Explorer No. 1” shipping carrier in China this week, bound for ports in Europe. This development underscores BYD’s growing prominence as the world’s leading electric vehicle (EV) seller, surpassing even Tesla. BYD strategically employs Hungary and…
Purchase, N.Y.-based PepsiCo’s Pepsi Wild Cherry has introduced its latest advertising endeavour, the “Get Wild” campaign, aiming to capture the essence of modern adulthood and the unconventional experiences of millennials and young adults. The campaign, featuring two brand-new commercials, made its debut on national TV during the NFL Wild Card Weekend on January 13. Humorously…
In a recent report by Bloomberg’s Mark Gurman, it has been revealed that Apple’s upcoming Vision Pro headset will not feature a dedicated Netflix app at its launch. Netflix reportedly has no plans to develop an app specifically tailored for Apple’s headset, and compatibility with the iPad app is not on the agenda either. This…
Los Angeles Clippers forward Paul George has officially confirmed the conclusion of his signature sneaker line after six models, according to an announcement made to SneakerReporter.com on Sunday night. While this marks the end of new additions to his signature line, George shared that he will continue his partnership with Nike, which plans to release…
Chinese tech giant Huawei has established a dedicated smart car unit, Shenzhen Yinwang Intelligent Technology Co Ltd, as part of its growing commitment to the automotive industry. The new subsidiary, wholly owned by Huawei, is based in Shenzhen, the company’s headquarters, and will focus on the “manufacturing and sales of intelligent car systems and equipment.”…
