BUSINESS

WENDY'S QUIETLY CONFIRMS 300 STORE CLOSURES NATIONWIDE AMID PUSH FOR PROFITS

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Wendy's is preparing to shutter hundreds of U.S. restaurants next year as part of a sweeping effort to boost profitability and refresh its brand image.

NINTENDO RAISES SWITCH 2 ANNUAL UNIT SALES

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Nintendo announced Tuesday it has raised its sales target for the Switch 2 console to 19 million units for the current financial year, an increase from its previous target of 15 million. The company cited "strong sales since its launch" as the reason for the upward revision, also boosting its annual net profit forecast to 350 billion yen ($2.3 billion) from 300 billion yen. The Switch 2 quickly became the world's fastest-selling games console following its launch in June, generating significant excitement among fans of titles like "Super Mario.”

FRANCE MOVES TO SUSPEND SHEIN WEBSITE AS BRAND OPENS FIRST STORE IN PARIS

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France has launched proceedings to suspend the website of online fashion giant Shein, just hours after the company celebrated the opening of its first physical store in Paris. The move follows a prosecutor's investigation into the alleged sale of sex dolls resembling children on the platform.

STARBUCKS SELLS CONTROL OF CHINA OPERATIONS TO BOYU CAPITAL IN $4 BILLION DEAL

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Starbucks has agreed to sell a controlling stake in its China operations to Boyu Capital in a $4 billion transaction, marking one of the largest foreign consumer divestments in China in recent years.

NETFLIX CLAIMS 190 MILLION AD-TIER VIEWERS UNDER NEW METRIC

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Netflix has introduced a new advertising measurement that the streaming giant says better reflects the true reach of its ad-supported tier, and the results are eye-catching.

ELI LILLY TO INVEST $3 BILLION IN NEW DUTCH PLANT TO SCALE WEIGHT-LOSS PILL PRODUCTION

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Eli Lilly and Co. is expanding its global manufacturing footprint with plans to build a $3 billion production facility in the Netherlands to support the growing demand for its experimental weight-loss pill, orforglipron, and other oral medications.

NVIDIA PLANS £1BN AI HUB IN PARTNERSHIP WITH DEUTSCHE TELEKOM

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Nvidia, the US tech giant, and Deutsche Telekom announced Tuesday the impending launch of a one-billion-euro ($1.1 billion) industrial artificial intelligence hub in Germany. This initiative marks Europe's latest effort to accelerate its position in the global AI race. Germany's largest telecoms operator stated that the center will provide secure IT infrastructure on the continent, enabling a wide range of European companies, from major organizations to startups, to utilize AI for processes spanning design to robotics.

BERKSHIRE PROFITS SURGE 34% AS BUFFETT LETS CASH HIT RECORD $381 BILLION, NO BUYBACKS AGAIN

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Warren Buffett's Berkshire Hathaway closed the third quarter on a high note, reporting a powerful rebound in earnings and a record cash reserve, even as the 95-year-old investor prepares to step down as chief executive.