Bloomberg Billionaire hedge fund manager and activist investor Bill Ackman is buying a minority stake in Bremont as the UK luxury watchmaker looks to expand in the fast-growing US market. Ackman is teaming with Bremont’s controlling shareholder, Hellcat LP, to invest a combined $60 million in Bremont, the watchmaker said in an emailed statement. The investment shows confidence in …

Bloomberg Tesla Inc. reported better-than expected profits in the latest quarter, even as it gave mixed signals on the outlook for growth in vehicle deliveries. The EV market leader said it would increase output “as quickly as possible” — in line with previous guidance for average annual growth of 50% over multiple years. However, Tesla said it’s on track to …

Bloomberg SAP SE is planning to cut about 3,000 jobs this year while exploring a sale of its remaining stake in Qualtrics International Inc. as the company looks for ways to boost profit. The German software company expects adjusted operating profit for 2023 to rise to a range of €8.8 billion ($9.6 billion) to €9.1 billion at constant currencies, according …