BUSINESS - Page 4

2026 Merger in Sight: Honda and Nissan’s Strategic Pivot

Honda and Nissan announced on Monday that they are in discussions to merge by 2026, marking a historic shift for Japan’s auto industry amid rising competition from Chinese electric vehicle (EV) manufacturers. If finalized, the merger would form the world’s third-largest automotive group by vehicle sales, following Toyota and Volkswagen, according to Statista data. This partnership would provide both companies with greater scale and the opportunity to pool resources, enabling them to better compete as global consumers increasingly transition from

Nationwide Starbucks Walkout Threatens Holiday Sales Amid Union Disputes

If you’re planning to grab a quick coffee or pick up a gift, it’s best to call ahead — Starbucks has closed most of its stores across the US. The workers’ union, Starbucks Workers United, announced that a strike began on Friday in Los Angeles, Chicago, and Seattle, with plans to expand to hundreds of locations by Christmas Eve. With a network of 11,000 stores, the walkout could significantly impact sales. This marks the union’s first walkout over contract negotiations.

Boeing Restarts 737 MAX Manufacturing, Pivotal Step After Strike Ends

Boeing has resumed production of its popular 737 MAX jetliner, marking a significant step forward following a seven-week strike by 33,000 factory workers. The restart is critical for the heavily indebted aerospace giant as it works toward recovery. With approximately 4,200 MAX orders from airlines eager to address the rising demand for global air travel, the pressure to deliver is high. However, Boeing’s ability to scale up production hinges on the Federal Aviation Administration (FAA) completing its investigation into a

Novo Nordisk Acquires Novavax’s Czech Plant in $200 Million Deal

Novavax, a U.S.-based vaccine manufacturer, announced on Wednesday the sale of its Czech Republic production facility to Novo Nordisk, the maker of Wegovy, for $200 million. The proceeds will support Novavax’s efforts to prioritize its vaccine pipeline and strengthen its core business. The sale aligns with the company’s ongoing strategy to streamline operations and focus on vaccine development. This move follows a recent $1.2 billion licensing agreement with French pharmaceutical giant Sanofi, which also acquired nearly a 5% stake in

Baidu Apollo Authorized to Begin Autonomous Vehicle Trials in Hong Kong

China’s Baidu has obtained a license to test its Apollo robotaxi service in Hong Kong, marking a step forward in its expansion beyond the Chinese mainland. The company plans to deploy its AI-driven multi-modal transportation platform in the city, aiming to provide customers with a safe, reliable, and convenient travel solution. The Apollo platform seeks to revolutionize the automotive industry by leveraging the potential of self-driving technology to enhance daily life. It is part of the broader Apollo initiative, which

UniCredit’s Surprise $11 Billion Offer Shakes Up Banco BPM Acquisition Plans

Italy’s UniCredit made a surprising move on Monday with a €10 billion ($11 billion) all-share offer for smaller domestic rival Banco BPM, even as it continues exploring a potential deal with Germany’s Commerzbank. UniCredit shares surged up to 16% in morning trading following the announcement. The bid comes shortly after UniCredit acquired a 5% stake in the bailed-out mid-sized lender Monte dei Paschi di Siena (MPS.IT), a step widely viewed as setting the stage for a future merger as MPS

Boeing to Reduce Workforce by 2,500 in Major Restructuring Effort

Boeing is set to lay off over 2,500 employees across the U.S. states of Washington, Oregon, South Carolina, and Missouri, as indicated by federally mandated filings released on Monday and confirmed by a union representative. Approximately 2,200 of these layoff notices were issued in Washington, while another 220 were sent to employees in South Carolina, where the company manufactures commercial aircraft, including the 777X jetliner, a key focus for Boeing. This decision aligns with the debt-laden aerospace giant’s broader plan

More Than 112,000 Ford SUVs Probed by U.S. for Potential Seat Belt Defects

The U.S. auto safety regulator announced on Monday that it has opened a recall investigation into approximately 112,567 Ford Expedition and Lincoln Navigator SUVs due to a potential issue with seat belt retractors. The problem could cause the retractors to lock unexpectedly, increasing the risk of injury during a crash. The National Highway Traffic Safety Administration (NHTSA) stated it had received three complaints, all describing accidental deployments of the seat belt retractor pre-tensioner. This mechanism uses an explosive charge to

Boeing Announces Layoffs: 10% of Workforce, 17,000 Jobs at Risk

Thousands of Boeing employees are about to learn if they’re included in the company’s latest round of layoffs. The aerospace giant announced it will issue layoff notices on Wednesday to employees impacted by a planned workforce reduction of approximately 17,000 positions. This measure is intended to help Boeing regain its competitive edge as it navigates multiple challenges, including decreased output following a near-catastrophic accident involving a 737 Max plane and a seven-week strike that halted production at its Puget Sound

World’s Leading Battery Maker CATL Open to U.S. Plant if Trump Greenlights Investment

The world’s leading battery manufacturer, CATL, is open to building a plant in the United States if President-elect Donald Trump encourages Chinese investment in the electric vehicle supply chain. CATL founder and chairman, Robin Zeng, told Reuters on November 7 that the company, which supplies Tesla Inc. and other major automakers, would be keen to set up a U.S. plant if permitted by the government. The U.S. government has previously been cautious about allowing Chinese investments in its electric vehicle

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