BUSINESS

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Shares of Novo Nordisk plunged Monday after the company said its experimental obesity therapy CagriSema did not match the weight-loss performance of Eli Lilly's blockbuster drug Zepbound in a closely watched trial.

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The European Commission has launched a formal investigation into online fashion retailer Shein, citing suspected breaches of EU digital rules including the sale of childlike sex dolls and weapons.

Announcing the move on Tuesday, the Commission said it would examine whether the company has adequate safeguards to prevent illegal goods from appearing on its marketplace. Officials indicated the probe will assess systems intended to detect and remove unlawful products, as well as broader structural risks posed by the platform.

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Electric vehicle giant Tesla on Thursday introduced a more affordable version of its futuristic pickup in the United States, while trimming the price of its top-tier Cyberbeast variant as it looks to reignite slowing demand.

The company said the new dual-motor all-wheel-drive configuration will start at $59,990, making it the most accessible Cybertruck in its lineup to date. At the same time, Tesla reduced the Cyberbeast price to $99,990 from $114,990, a significant rollback aimed at widening its customer base.

With the revision, Tesla appears to be phasing out its Luxe Package, which previously bundled Supervised Full Self-Driving capabilities along with complimentary access to the company's Supercharger network. The add-on had been introduced last August alongside a price increase for the electric pickup.

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Billionaire Thomas Pritzker said he has stepped down as chairman of Hyatt Hotels after documents released by the US Department of Justice revealed his ties to Jeffrey Epstein. In a statement on Monday, Pritzker acknowledged he had shown “terrible judgement” by maintaining contact with the convicted sex offender. Newly released files indicate Pritzker was in regular contact with Epstein in the years following Epstein’s 2008 plea deal.

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The online retail giant eBay has agreed to acquire the British fashion resale app Depop from Etsy for $1.2bn (£890m) in cash, as the company steps up efforts to attract younger, style-conscious consumers.

The deal underlines the continued rise of secondhand marketplaces, particularly among Gen Z shoppers seeking affordable and more sustainable alternatives to high street brands. Born between 1997 and 2012, this demographic now accounts for the majority of Depop's users.

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Warner Bros. Discovery said Tuesday it has reopened negotiations with Paramount Skydance after receiving a seven‑day waiver from Netflix to examine perceived “deficiencies” in Paramount’s bid to acquire the company. WBD said Netflix has granted a limited waiver under the terms of its merger agreement, allowing discussions through February 23, 2026 so the board can seek clarity for stockholders and give Paramount Skydance a chance to submit its best and final offer.

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"Unless we act with urgency, a widening AI divide could define this century," warned Microsoft leaders as the company unveiled a sweeping $50 billion commitment aimed at expanding artificial intelligence access across developing economies by 2030.