Turo, a car rental start-up in San Francisco, has been trying to go public since 2021. But a volatile stock market in early 2022 delayed its listing. Since then, the company has waited for the right moment. Last week, Turo pulled its listing entirely. “Now is not the right time,” Andre Haddad, the company’s chief … Read more
European defense stocks continued their rally on Tuesday, as President Trump’s threats to reduce American military support to the continent and NATO raised the prospect that Europe’s governments will increase military spending. The flurry of trading helped push the Pan-European Stoxx 600 index to a record high; the Stoxx Europe Total Market Aerospace & Defense … Read more
After decades of dominating China’s market for high-performance cars with precision engineering, German automakers are losing out to Chinese rivals that have shifted the definition of a high-end car to one that is electric, smart and affordable. Many new Chinese vehicles resemble their German rivals, like the wildly popular Xiaomi SU7, which mimics Porsche’s Taycan. … Read more
In the early 1970s, the madcap advertising executives Ron Travisano and Jerry Della Femina were struggling to find a gimmick to sell an undistinguished brand of pet food. Watching interminable and unremarkable footage of cats eating, Mr. Travisano and an editor, Joe Lione, spotted one that kept opening and closing its mouth in a manner … Read more
We’ve got some more thoughts on Elon Musk’s $97 billion hostile bid for Sam Altman’s OpenAI, which, we’re told, still hasn’t been delivered to anyone at OpenAI. Assuming an offer does show up, from a legal standpoint it’s actually dead on arrival. That’s because the board of OpenAI has no legal fiduciary duty to maximize … Read more
OpenAI’s board of directors on Friday rejected a $97.4 billion bid by Elon Musk and a consortium of investors to gain control of the artificial intelligence company, deepening a feud between Mr. Musk and OpenAI’s chief executive, Sam Altman. In a statement, Bret Taylor, the chairman of the OpenAI board, said, “OpenAI is not for … Read more
Elon Musk said in a court filing late Wednesday that he would withdraw his $97.4 billion bid to control OpenAI if the company dropped a longstanding effort to change its corporate structure. Mr. Musk and a consortium of investors had offered on Monday to buy the assets of the nonprofit that controls OpenAI, escalating a … Read more
Novo Nordisk, the Danish pharmaceutical company behind Ozempic and Wegovy, capped off a somewhat turbulent 2024, reporting profit and revenue on Wednesday that comfortably beat Wall Street expectations. But the drugmaker said it expected sales growth to slow in 2025, as competition increases. Novo Nordisk retains its title as Europe’s most valuable company, but its … Read more
Tesla’s sales in Germany plunged 59 percent in January, the month when Elon Musk, the company’s chief executive and a close adviser to President Trump, chided Germans for focusing too much on “past guilt” for Nazi-era crimes and urged voters to support a nationalist party in the country’s general election. As Mr. Musk has been … Read more
The Bank of England cut interest rates on Thursday for the third time in about six months, amid signs of weak economic growth in Britain and an unexpected slowdown in inflation. But it warned that there would be a temporary pickup in inflation and that a possible global trade war could weigh on the economy. … Read more