BUSINESS

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Boeing has withdrawn its contract offer to approximately 33,000 striking factory workers after negotiations reached an impasse. The strike, now entering its fourth week, shows no signs of resolution as both sides remain firmly entrenched in their positions.

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Tesla is recalling approximately 27,000 of its highly anticipated Cybertrucks due to an issue with the rearview camera, which poses a potential safety risk. According to a report filed with the National Highway Traffic Safety Administration (NHTSA), the rearview display in affected vehicles may take up to eight seconds to show the image when the truck is put in reverse. This delay far exceeds the two-second limit set by U.S. federal safety regulations and increases the risk of a collision.

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The Japanese company that owns 7-Eleven has received a revised takeover offer from its Canadian rival, Alimentation Couche-Tard. This comes after the initial bid, valued at approximately $40 billion, was rejected earlier this year. Couche-Tard, the parent company of Circle K convenience stores, is hoping this revised proposal will be more enticing to the 7-Eleven owner, potentially setting the stage for a major shift in the global convenience store landscape.

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Investment giant Fidelity has marked down its shares in X (formerly Twitter) by nearly 80% since Elon Musk's $44 billion acquisition in October 2022, implying a current valuation of approximately $9.4 billion for the social media platform.

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Boeing delivered 33 new aircraft to customers in September, defying challenges posed by an ongoing labor strike that has shut down two major assembly plants in Seattle. The company's ability to maintain production and meet delivery schedules amidst the strike underscores its commitment to fulfilling customer orders, despite the significant disruption.

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Tesla's third-quarter delivery figures have fallen short of analyst expectations, sparking concerns about the company's market position amid intensifying global competition. The EV pioneer reported delivering 462,890 vehicles in Q3 2024, representing a 6.4% increase from the previous quarter but failing to meet the consensus estimate of 469,828 vehicles, according to data from 12 analysts polled by LSEG.

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In a bold move to cater to its most discerning clientele, Rolls-Royce has opened its first U.S. “Private Office” in New York City’s trendy Meatpacking District. This exclusive VIP design studio is part of the British automaker’s strategy to enhance sales and profits by offering highly personalized, higher-priced vehicles rather than increasing production volumes.

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Volkswagen executives and employee representatives initiated crucial discussions on Wednesday regarding the carmaker's extensive cost-cutting measures. Thousands of workers protested, with unions strongly opposing the plans and promising staunch resistance.