BUSINESS

FORD TO CUT 4,000 JOBS IN EUROPE

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Ford announced on Wednesday that the company will be cutting 4,000 more jobs in Europe include Germany, Britain and some parts of western Europe. This is due to the latest blow to the continent's car industry.

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A LEGACY OF ELEGANCE, THE COLLECTION OF MICA ERTEGUN GOES TO AUCTION

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This highly anticipated auction at Christie’s this November and December 2024 celebrates the life of a woman who personified style and nurtured spaces that mixed art, design, and culture. This collection encompasses everything from iconic fine art to decorative pieces and presents an unrivaled look into the aesthetic philosophy that defined Ertegun’s career spanning over six decades. Along with her late husband, Ahmet Ertegun-cofounder of Atlantic Records-Mica was the backbone of New York high society, mixing her gift for design with an eye toward refined yet accessible beauty.

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TRUMP CUTS EV TAX CREDIT ,TESLA AND RIVALS STRUGGLE AMID POLICY SHIFT

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President-elect Donald Trump's transition team revealed plans to eliminate the $7,500 consumer tax credit for electric vehicles. The announcement triggered immediate repercussions across the automotive sector, with Tesla shares dropping 6% to $311.18, while Rivian plunged 14% to $10.31, and Lucid fell 5% to $2.08.

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NISSAN CUTS 9,000 JOBS, SLASHES PRODUCTION TO COUNTER SALES SLUMP AND PROFIT DROPS IN CHINA, U.S. MARKETS

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Nissan Motor announced sweeping restructuring measures, including plans to cut 9,000 jobs and reduce global production capacity by 20%, as the Japanese automaker battles weakening sales in China and the United States.

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EU LEVIES $840M FINE ON META OVER MARKET DOMINANCE ABUSE

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The European Union imposed an $840 million (797.72 million euro) fine on Meta Platforms Inc. on November 14, 2024, marking one of the most significant penalties ever levied against a tech giant. The European Commission's investigation, initiated in 2021, concluded that Meta had exploited its market dominance through its Facebook Marketplace service.

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BITCOIN AND U.S. STOCKS SURGE AS TRUMP RE-ELECTION SPARKS CRYPTO AND MARKET RALLIES

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In a stunning reversal from his 2020 election defeat, Donald Trump has won the 2024 US presidential race, sending shockwaves through global financial markets.

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SHELL WINS LANDMARK APPEAL AGAINST CLIMATE RULING

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In a blow to environmental campaigners, oil giant Shell has won its appeal against a landmark 2021 ruling that ordered the company to drastically cut its carbon emissions.

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BUFFETT'S CASH PILE TOPS $325 BILLION AMID APPLE SALES AND DECLINING OPERATING PROFITS AT BERKSHIRE HATHAWAY

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Warren Buffett's Berkshire Hathaway has dramatically reshaped its investment portfolio in Q3 2024, accumulating a record $325.2 billion in cash while significantly reducing positions in key holdings. The conglomerate's aggressive selling strategy, particularly of Apple shares, signals a notably cautious stance in current market conditions.

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