BUSINESS

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British airline EasyJet on Wednesday reported a 40-percent rise in annual net profit on strong demand for its package holidays. Profit after tax stood at £452 million ($569 million) in the 12 months to the end of September, building on its return to profit last year following losses in the wake of the Covid pandemic.

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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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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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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 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.