BUSINESS

TESLA ACQUIRES ASSETS FROM INSOLVENT GERMAN SUPPLIER MANZ AG

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Tesla has agreed to purchase specific assets from Manz AG, a German automation systems supplier currently undergoing insolvency proceedings. The acquisition, announced on February 25, 2025, involves Tesla Automation, a subsidiary of Tesla Inc., taking over Manz's Reutlingen site in southwestern Germany.

HONDA AND NISSAN HALT MERGER TALKS

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On Thursday, Japanese automotive giants Honda and Nissan announced that they have abandoned discussions regarding a merger that would have formed the world's third-largest automaker by unit sales. The proposed partnership was viewed as a strategy to compete with American powerhouse Tesla and Chinese companies in the electric vehicle sector, while also offering support to the struggling Nissan. In a joint statement, the companies confirmed that they had "agreed to terminate the MOU (memorandum of understanding) signed on December 23 of last year concerning the potential business integration between the two firms."

STARBUCKS ANNOUNCES 1,100 CORPORATE LAYOFFS AMID SALES CHALLENGES

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Starbucks revealed plans to lay off 1,100 corporate employees and leave several hundred open positions unfilled, according to an announcement by CEO Brian Niccol on Monday, February 24, 2025. The cuts specifically target corporate support roles while sparing café workers, roasting, manufacturing, warehousing, and distribution staff.

TESLA SHARES TUMBLE AS BYD-DEEPSEEK DEAL INTENSIFIES COMPETITION, MUSK'S OPENAI BID ADDS DISTRACTIONS.

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Tesla's stock plummeted 6% on Tuesday, marking its fifth consecutive day of decline and erasing over $200 billion in market value, as multiple challenges converged to test investor confidence. The electric vehicle maker's shares fell to $328.50, representing a nearly 17% drop over the past week.

NETFLIX TO INVEST OVER $1 BN IN PRODUCING CONTENT IN MEXICO

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Netflix will invest $1 billion over four years in film and series production in Mexico, co-CEO Ted Sarandos announced alongside Mexican President Claudia Sheinbaum on Thursday. The move, hailed by Sheinbaum as a major win for the Mexican economy, strengthens the country's position as a production hub and provides a welcome counterweight to US tariff concerns.

OpenAI CEO REJECTS ELON MUSK LED $97BN TAKEOVER BID

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OpenAI CEO Sam Altman has rejected a $97.4 billion takeover bid from a consortium led by Elon Musk. Musk's attorney, Marc Toberoff, confirmed the "all assets" offer was submitted to OpenAI's board on Monday. The bid marks the latest development in a long-running dispute between Musk and Altman over the direction of the AI startup.

AIRBUS PROFIT SOAR UP IN 2024 AS IT PLANS MORE OUTPUT

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Airbus announced a 12 percent increase in net profits to €4.2 billion ($4.4 billion) for 2024, citing increased aircraft deliveries as a key driver. The European aircraft maker aims to further boost deliveries in the coming year, having successfully absorbed a major writedown related to its space business.

NESTLE SHARES FALL MOUNTING PRESSURE ON NEW CEO

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Ahead of Thursday's annual results, new Nestle CEO Laurent Freixe faces mounting pressure as the food giant's slumping share price rattles shareholders and pension funds. Freixe took the helm of the Swiss-based company, known for brands like Nespresso, Purina, and Maggi, in a surprise leadership change last September.