Business

Sipping a glass of local wine is likely not what springs to mind when visiting Scandinavia, but this colder, northerly region is emerging as a new wine frontier. Hundreds of commercial vineyards are now dotted across Denmark, Sweden, and even Norway, as a first generation of professional winemakers transform what was once a niche hobby into a…

Donald Trump stood on Wall Street on Thursday, a euphoric crowd of America’s business elite assembled before him, and hammered the bell to kick off morning stock market trading. The mood was celebratory. Not only had the president-elect just been named Time person of the year, but the stock market, already up strongly, has surged to…

Shares in US chocolate maker Hershey have jumped by more than 10% after a report that Mondelez International, which owns UK-based Cadbury, has approached the firm about a potential buyout. A deal could create a snack food giant with combined sales of almost $50bn (£39.2bn) a year. Both Mondelez and Hershey declined to comment on…

A Boeing plea deal intended to resolve a case related to two fatal crashes of its planes has been rejected by a US judge. The plane maker agreed with the US government in July to plead guilty to one count of criminal fraud, face independent monitoring, and pay a $243m (£191m) fine. However, Judge Reed…

Luxury car maker Jaguar has unveiled its new electric concept car, less than a fortnight after the release of a teaser video that stirred online controversy. The unveiling of the Type 00 car triggered mixed responses from social media users, with some cheering its design, while others mocked the launch. Last month, many critics pointed…

Boeing, Nike and Starbucks have all changed their chief executives in recent months. But just how important is the person in the top job for the successful running of such huge companies? “There’s only one cat who’s on the hot seat,” says Alan Lafley, who was CEO of global consumer goods giant Procter & Gamble…

Elon Musk’s X, formerly known as Twitter, has added Amazon’s Twitch livestreaming platform as a defendant in its ongoing lawsuit alleging that advertisers illegally conspired to boycott the platform, withholding billions of dollars in advertising revenue. Business Insider reports that Elon Musk’s X has expanded its legal battle against advertisers by adding Twitch, the Amazon-owned video streaming…

UK public sector pension funds are not big enough to generate good returns for British savers, Chancellor Rachel Reeves has told the BBC. The government is set to reveal plans to merge the UK’s local government pension scheme, a group of funds which together manage £354bn in investments, into a handful of “pension megafunds”. It…

Volkswagen Group (VW) and Tesla rival Rivian have launched a joint venture, with the German car giant increasing its investment in the partnership. The two companies say the deal is now worth $5.8bn (£4.55bn) – up from an initial pledge from VW of $5bn. Shares in the US electric vehicle (EV) maker jumped more than 9%…