BUSINESS

Storied auction house Sotheby's reported on Monday that sales had dipped last year to $7.9 billion, down $100 million from the record-breaking 2022 which was lifted by pent-up demand following the pandemic.

Toyota's chairman said Tuesday he was "ashamed" of recent scandals involving subsidiaries of the Japanese auto giant, as the firm announced record vehicle sales of 11.2 million across its brands last year.

Saudi Arabia has ordered energy giant Aramco to maintain its oil production capacity at 12 million barrels per day, abandoning a planned increase, the firm said on Tuesday.

Israeli flag carrier El Al said Friday it will scrap direct flights to South Africa following "a significant fall in demand by Israeli travellers" to the country and other destinations.

A top Boeing executive has apologized for the problems highlighted by the mid-flight blowout of a door plug on an Alaska Airlines flight, as two airlines began returning the troubled 737 MAX 9 planes to service.

The world's largest cruise ship, Royal Caribbean's Icon of the Seas, set sail from Miami on its maiden voyage Saturday, carrying what amounted to the population of a small city.

A Hong Kong court on Monday ordered the liquidation of China's property giant Evergrande, but the firm said it would continue to operate in a case that has become a symbol of the nation's deepening economic woes.

A Hong Kong court on Monday issued a winding-up order for Chinese real estate giant Evergrande, as the embattled firm teeters on the brink of bankruptcy.

Microsoft is laying off 1,900 people, or eight percent of staff, from its gaming division as it consolidates the blockbuster buyout of "Call of Duty" maker Activision Blizzard.

British retail lender Lloyds Banking Group on Thursday announced a net reduction of almost 800 jobs, as it slashes branch staff but boosts customer services.

Alaska Airlines said Thursday it expects a $150 million hit from the Boeing 737 MAX grounding, which will limit its capacity growth in 2024.

The world's largest luxury goods group LVMH announced record results Thursday, even as growth slowed towards the end of last year and sales of spirits shrank.

Amazon on Wednesday said it will stop letting police directly ask people for video from the company's Ring doorbell or home security cameras.

Finnish telecommunications equipment maker Nokia warned Thursday that it expects another tough economic environment in the first half of this year after its net profit sank in 2023.

Consumer goods giant Procter & Gamble painted a mixed picture in its earnings report Tuesday, as price hikes supported revenue growth but customers appeared to pull back in some purchases.

Netflix added 13 million subscribers in the final three months of last year, the company said on Tuesday, despite price hikes at the leading streaming service.

France's data protection agency said Tuesday it had fined Amazon's French warehouse management unit 32 million euros ($34.9 million) for an "excessively intrusive" surveillance system to monitor staff performance.

League of Legends maker Riot Games said Monday it will cut around 530 jobs worldwide, describing the layoffs as "a necessity."

Swedish telecoms equipment giant Ericsson warned Tuesday that it expected further market decline outside China this year after booking a sizeable loss in 2023 due to a write-down and restructuring costs.

South Korean entrepreneur Do Kwon's Terraform Labs, whose cryptocurrencies crashed dramatically in 2022, is seeking bankruptcy protection in the United States, according to court documents filed Sunday.

Sony "terminated" on Monday the $10-billion merger of its Indian operations with local rival Zee Entertainment that would have created a new streaming giant in the world's most populous nation.

Google CEO Sundar Pichai has warned employees that more layoffs are in store at the search engine giant as it focused on new priorities, including artificial intelligence.

The Anglo-Dutch group Just Eat Takeaway said Thursday that it would wind up its Paris subsidiary that employs riders on labour contracts but that it will continue to operate its delivery service in the French capital.

New car sales in Europe rebounded by 13.9 percent in 2023 as electric vehicles overtook diesel for the first time, an industry group said on Thursday.

US retail sales accelerated more than anticipated in December, closing out a year marked by resilient consumption, government data showed on Wednesday.

India's newest airline, Akasa Air, said Thursday it has ordered 150 Boeing 737 MAX planes as it looks to bolster its fleet and kick off international operations.

Ryanair on Tuesday welcomed improved quality controls at US aircraft manufacturer Boeing and announced its own enhanced checks, after a major safety issue.

A US federal judge on Tuesday ruled against JetBlue's $3.8 billion takeover of low-cost carrier Spirit Airlines, saying that the deal would reduce competition.

Google on Tuesday confirmed it is eliminating "a few hundred" positions from its global ad team, amid a push to use artificial intelligence for efficiency and creativity.