BUSINESS - Page 33

Amazon Prime is one of the most popular subscription services, offering a vast library of movies and TV shows, free two-day shipping on many items, exclusive discounts at Whole Foods stores, and other perks like photo storage and gaming perks. But it doesn’t come without a cost: the service costs $119 annually in the United States. But starting next year, Amazon (AMZN.O) will join streaming rivals in rolling out ads and introducing a higher-priced ad-free tier. In announcing the change

For the first time, Apple Inc.’s latest iPhones and watches went on sale Friday, a test of whether a new smartphone design and modest smartwatch changes can help return the company to growth. The devices are expected to represent the company’s biggest sellers throughout the rest of the year – and its ability to both create and fulfill demand for the products will make or break its holiday period sales. Ahead of the launch, Apple unveiled a more refined version

The maker of Ben & Jerry’s ice cream, Dove soap, and Hellman’s mayonnaise is hiring investment banks to sell a basket of non-core beauty and personal care brands, including Q Tips and Impulse, reviving an effort it abandoned two years ago. According to people familiar with the matter, Morgan Stanley and Evercore Inc. are gauging interest in the brands, which make up part of the unit called Elida. The revival of the sale process, which has not been previously reported,

Vietnams VinFast plans to deliver its first E.V.s to Europe this year after receiving regulatory approval, its chief executive told Reuters on Thursday. The firm, part of the country’s largest conglomerate, Vingroup, aims to become a global sustainability brand focusing on automotive manufacturing. VinFast will send some 3,000 of its VF8 crossovers to France, Germany, and the Netherlands in the fourth quarter of this year from the company’s factory in northern Vietnam, said Le Thi Thu Thuy. She did not

German self-driving freight trucks startup Fernride said on Wednesday that it had raised $50 million in Series A funding to increase the use of its “human-assisted” autonomous freight trucks in customer’s logistics yards. Founded in 2019, the Munich-based startup has designed operating software for Level Four autonomous trucks, which can drive themselves within a designated area with human supervision. However, full autonomy is one step further at Level Five. While investors have backed mainly off big bets on robotaxi and

As the world grapples with rising inflation, a new economic challenge is on the horizon – surging global crude oil prices. This is likely to fuel the inflationary fire, particularly in emerging economies already facing higher commodity prices and slower growth due to the COVID-19 pandemic. In addition, if the oil price rises persist, it could lead to capital flow outflows and depreciation of local currencies in developing countries, boosting the inflationary pressure on tradable goods prices, labor markets, and

The kingdom has been wooing Tesla with the right to purchase specific quantities of metals the company needs for its electric cars from countries like the Democratic Republic of Congo, the Wall Street Journal reported on Monday. The Saudi Public Investment Fund (PIF) has already invested significantly in a rival electric car maker, Lucid Motors, which will start limited vehicle reassembly operations later this year at a facility in the southern city of Buzil. A successful deal would help the

Turkey wants to be the seventh location for Tesla’s following factory, and President Tayyip Erdogan has asked Elon Musk to make it happen. On Monday, the country’s communications directorate said that during a meeting at Turkish House, a skyscraper near the United Nations in New York, Erdogan directly asked Musk to construct a manufacturing facility in Turkey, Anadolu news agency reported. Musk responded that many Turkish suppliers were already working with Tesla, and Turkey was among the most important candidates

The European Union may be as hooked on China batteries as it was on Russian energy before the war in Ukraine unless it takes strong measures, a paper prepared for EU leaders said. The document will be the basis of discussions on Europe’s economic security during a meeting of EU leaders in Granada in Spain on Oct. 5. While the EU aims to decouple from Russian fossil fuels by switching to renewables, it risks becoming dependent on China, which controls

Citigroup will strip out a layer of management and cut jobs in a sweeping reorganization that will give CEO Jane Fraser more direct control as she seeks to simplify the Wall Street giant and boost its stock. The heads of the bank’s five divisions will now report directly to the CEO, and the company will also cut regional leadership roles outside North America. Job cuts are expected, but the number and financial impact remain unclear. The restructuring is a significant