Business

Electric car manufacturer Tesla's market capitalization reached $89 billion, exceeding the combined value of Ford and General Motors, driven by significant vehicle production and rising stock prices.

In a tragic settlement, IKEA agrees to pay $46 million to the family of Jozef Dudek, a 2-year-old boy who died when an unstable dresser tipped over, causing fatal neck injuries. The lawsuit highlights the critical need for secure furniture design and wall anchoring to prevent child accidents.

Australia's summer bushfires have wreaked economic havoc, destroying infrastructure and forcing businesses like resorts and tourist parks to face significant financial losses. The fires in New South Wales and Victoria have disrupted mobile signals, electricity, and national productivity, with smoke haze creating additional challenges for key cities.

London-based Travelex was targeted by Sodinokibi ransomware gang on New Year's Eve, demanding $3-6m for system and database retrieval. The cyberattack caused widespread disruption, leaving customers unable to access funds through Travelex and its partner businesses.

Hyundai Motor Company is collaborating with Uber Elevate to mass-produce four-passenger aerial taxis. These electric vertical take-off and landing vehicles aim to reduce travel time, completing a 50-mile trip in just 15 minutes compared to a 2-hour car journey.

UK banking customers of Clydesdale and Yorkshire Banks report significant delays in salary payments after Christmas, with many expressing frustration over lack of communication and unresolved financial issues affecting their ability to support their families.

Ant Financial, the world's highest-valued FinTech company, has applied for a digital wholesale banking license in Singapore. This move follows similar bids by Grab and Razer, aiming to contribute to Singapore's digital banking landscape and promote financial inclusion through innovative corporate banking services.

Shannon Lee, representing Bruce Lee Enterprises, has filed a lawsuit against Real Kungfu in a Shanghai court. She demands the chain stop using her father's image and seeks 210 million yuan (US$30 million) in compensation for 15 years of unauthorized use of the martial arts legend's likeness.

CNN investigated potentially unsafe children's products on Amazon, revealing a 4-in-1 baby car seat and stroller that fails safety standards. The fake product, priced at $299, uses an unauthorized image of Ivanka Trump and is $200 cheaper than the authentic Doona brand, raising serious consumer safety concerns.

Uber co-founder Travis Kalanick announced his resignation from the company's board by December 31, citing a desire to focus on new business and philanthropic endeavors. After selling most of his shares in November, Kalanick reflects on his 10-year journey with the world's largest ride-hailing platform.