BUSINESS

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Ford Motor Co. has marked a robust 16.3% year-over-year increase in U.S. sales for May, navigating through a landscape marred by escalating tariff costs and price adjustments. The surge in sales, propelled by a strategic employee pricing program, underscores Ford's resilience amid economic uncertainties.

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DNA testing firm 23andMe has announced an agreement to be acquired by Regeneron Pharmaceuticals for $256 million (£192 million). The agreement comes two months after 23andMe filed for bankruptcy protection in the US. As part of the deal, 23andMe emphasized that Regeneron has committed to comply with its privacy policies and has security controls in place to protect user data.

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A US federal judge has cancelled the upcoming trial of Boeing, scheduled for June 23, following a preliminary settlement reached between the Justice Department and the aviation giant regarding the 737 MAX crashes that claimed nearly 350 lives.

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As President Donald Trump's tariffs impact the motor industry, UK-based carmaker Jaguar Land Rover (JLR) has stated it does not intend to produce vehicles in the US. JLR has no factories in the US and briefly suspended shipments to the country in April following Trump's initial tariff announcements, before resuming exports this month.

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KFC has revealed plans to create 7,000 new jobs across the UK and Ireland as competition from fast-food chicken chains like Wingstop intensifies. The company is committing nearly £1.5 billion in investment over the next five years, with a portion allocated to opening new restaurants in strategic locations such as Ireland and north west England — the region where KFC launched its first UK outlet 60 years ago in Preston.

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Luxury fashion firm Burberry has announced potential plans to cut 1,700 jobs as part of a wider strategy to reduce costs by 2027. The British designer brand, known for its iconic check pattern, reported a £66m loss in the last financial year, prompting the proposed savings which would reduce its global workforce by almost a fifth and include potential redundancies at its Castleford factory in West Yorkshire.

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Nissan reported a significant annual net loss of $4.5 billion on Tuesday and confirmed plans to cut 15 percent of its global workforce, while also warning about the potential impact of US tariffs. The Japanese automaker reported a net loss of 671 billion yen for 2024-25 and declined to provide a net profit forecast for the current financial year.