BUSINESS

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As cost cuts continue to bite, Volkswagen has made an historic decision, ceasing production at a German factory for the first time in its 88-year history. On Tuesday, the last car, a red electric ID.3 GTX signed by its workers, exited the production line at the Dresden plant. This closure transforms the iconic glass-walled "Transparent Factory" into the first domestic Volkswagen site to completely shut down manufacturing.

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Months after facing backlash for allegedly appropriating the design of Indian Kolhapuri sandals, global fashion brand Prada has announced a limited-edition footwear line genuinely inspired by the traditional style. Under a deal with two state-backed entities, the Italian luxury brand will produce 2,000 pairs of these sandals in India's Maharashtra and Karnataka states. The collection is slated to go on sale in February 2026, both online and in 40 Prada stores globally.

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Ford Motor Co. announced Monday that it is sharply pulling back on its electric vehicle ambitions, a move that will result in a $19.5 billion charge to earnings as the automaker reassesses its EV strategy amid slowing demand and shifting U.S. policy.

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Calvin McDonald, the chief executive of Lululemon Athletica, the brand renowned for its expensive yoga leggings and sports clothing, is set to depart the company early next year. McDonald will leave his role at the end of January, concluding more than seven years at the helm. This decision follows a period of declining sales for Lululemon in the US, its primary market, and a nearly 50% drop in its share price over the past year.

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Walt Disney is making a major leap into the world of generative artificial intelligence, announcing a $1 billion equity investment in OpenAI alongside a sweeping three-year licensing agreement that will allow the tech company to legally use hundreds of Disney-owned characters in its Sora video generator and ChatGPT Images tool. The deal, unveiled Thursday, marks one of the entertainment industry's most significant endorsements of AI technology to date.

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Juventus' owners publicly rejected a buyout offer from a cryptocurrency firm on Saturday -- ensuring that the most successful club in Serie A history will remain controlled by the Agnelli family.

Tether, the cryptocurrency firm, made an offer worth about €1 billion (nearly $1.2 billion) for the Agnelli family's majority shares in the record 36-time Italian champions.

"Juventus, our history and our values are not for sale," said John Elkann, chief executive of Exor, the Agnelli family's holding company, in a video message posted on Juventus' website.

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Amazon has unveiled a sweeping commitment to invest more than $35 billion in India by 2030, marking one of its most aggressive pushes yet into an international market that has quickly become a global battleground for cloud and artificial intelligence dominance. The announcement, delivered at the Amazon Smbhav Summit in New Delhi, builds on nearly $40 billion already deployed across India's e-commerce, logistics, cloud and digital payments ecosystem.