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Liam Denning In between dabbling in geopolitics and buying-rejecting-not-really-buying Twitter, Elon Musk runs a car company. Tesla Inc. reported results that were somehow simultaneously great and yet humdrum. Revenue jumped 56% versus a year ago, but missed expectations by 3%; the stock fell slightly after hours on Wednesday. Such is the flip-side of high expectations. Musk appeared on the call …

Adidas AG’s next chief executive officer is set to inherit an even tougher job. The company warned that unsold goods are piling up as consumer demand weakens across China and western markets. That sent the German sport apparel maker’s stock slumping as much as 10%. Problems are accumulating under outgoing Chief Executive Officer Kasper Rorsted, including a publicity crisis over …

Families of passengers killed in two crashes of Boeing 737 Max jets were deemed by a federal judge to be official crime victims entitled to consultation before the US Justice Department cuts any deals with the maker of the flawed aircraft. US District Judge Reed O’Connor in Texas said in a ruling he will now determine what remedies the families …

Regional Australian airline Rex said operating costs on short flights will drop as much as 50% with the introduction of electric- and hydrogen-powered aircraft in coming years. Rex plans to start trials in early 2024 using King Air 200 planes, retrofitted with the new power trains, before later tests with Saab 340 aircraft, Deputy Chairman John Sharp said at a …

UK retail sales fall more than expected last month after the death of Queen Elizabeth II curtailed activity and cost-of-living pressures hit harder. The volume of goods sold in shops and online dropped 1.4% in September after a revised 1.7% decline the month before, data from the Office for National Statistics (ONS) showed. Economists had expected an 0.5% drop. Sales volumes …

TikTok users would still risk having personal data exposed to hacking and espionage by China even if the Biden administration forges a security agreement designed to spare the video platform from a total US ban. That’s the conclusion of former national security officials and other experts as the Justice Department reviews an accord that would keep the popular video-streaming app, …

Mobileye Global Inc, the self-driving technology company owned by Intel Corp, is targeting a valuation of about $16 billion in a public offering, far below its previous target amid a rocky year for new listings. Intel had lowered its expected valuation of Mobileye to $30 billion due to turbulent market conditions, Bloomberg News reported last month. The company plans to …

Mercedes-Benz Group AG is broadening its battery-powered line-up with a sport utility vehicle (SUV) that will take on Tesla Inc.’s Model Y in another step towards the automaker’s goal to go all-electric by the end of the decade. The EQE SUV, unveiled on the eve of the Paris car show, will edge out the cheaper Model Y with 590 kilometers …

Bloomberg European Union (EU) governments have pledged more than 550 billion euros ($536 billion) to protect citizens and businesses from soaring energy costs over the past year, highlighting the enormous fiscal burden the bloc’s leaders face as they jostle over how to pay for it. That figure climbs to 710 billion euros when support for utilities via loans, bailouts and …

  Bloomberg Italy’s Enel SpA is in talks with banks on a new €16 billion ($15.8 billion) state-backed credit line to cover derivatives risks linked to spiking energy prices, according to people familiar with the matter. Under the plan, the country’s trade-credit insurer Sace would provide guarantees for around 70% of the total amount, said the people, asking not to …