Business

Tesla announces second factory outside the US

Volkswagen CEO Herbert Diess praised Elon Musk for showing that electric cars are capable of competing with vehicles powered by fossil fuels. Volkswagen has announced plans to invest €30 billion (US$33 billion) to electrify its entire product lineup over the next four years.

CEO of major healthcare provider Kaiser Permanente dies

"An outstanding leader, visionary and champion for high-quality, affordable health care for all Americans, Bernard was a tireless advocate for Kaiser Permanente, our members and the communities we serve. Most importantly, Bernard was a devoted husband, father and friend. We all will miss his tremendous presence in our lives."

World’s most profitable company goes public

Saudi Aramco CEO Amin Nasser said the world’s largest oil firm was still the most reliable oil company globally despite being attacked in September. It earned US$68 billion for the nine-month period that ended September, recording a revenue of US$244 billion and a free cash flow of US$59 billion.

RIP Barneys luxury department stores

The remaining Barneys stores, including the flagship business in Madison Avenue, New York, will join the 15 of 22 already shut after Barneys New York went into bankruptcy. Only the Boston store may remain.