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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."
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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.
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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.
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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.
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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.
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