Celebrity News

Shell defaults on paying UK windfall tax

Despite reporting the second-highest quarterly profit in its history, Shell still needs to pay the UK windfall tax.

The energy company reported that between July and September, global profits were $9.5 billion, up from $4.2 billion same time last year.

Meanwhile, Shell claimed it had lost money because of substantial investments in the UK.

It anticipates beginning to pay windfall taxes early in the next year.

When Rishi Sunak was the chancellor in May, he introduced the Energy Price Levy. Also known as a windfall tax, on the earnings of energy companies. He predicted it would raise £5 billion in its first year at the time.

After the COVID lockdowns ended, oil and gas prices rose, but they have soared since Russia invaded Ukraine in February, generating enormous profits for energy firms.

The surge in energy costs for homes and businesses is also a result of higher oil and gas prices. Through the Energy Price Guarantee program, the government is reducing gas and electricity costs. However, instead of lasting two years as initially anticipated, the program will now conclude in April.

When funding is reduced, there have been concerns that typical home gas and electric expenses might exceed £4,300. This is because the price of electricity has also contributed significantly to inflation, which is at 10.1%.

Defective UK windfall tax 

According to Ed Miliband, the shadow secretary for climate change for Labour, the current windfall tax on energy companies is defective. And “would see billions of pounds of taxpayer money go back into the coffers of oil and gas corporations through ridiculous tax exemptions.”

He claimed that Shell’s gains were “more evidence” that the UK required a more outstanding windfall tax to ensure that energy corporations “pay their fair part.”

Liberal Democrats, Green Party, and activists have criticized the present course of action.

Nadhim Zahawi, a cabinet minister, justified the windfall tax, claiming that Shell and other energy goliaths already pay substantial taxes.

A windfall tax is a one-time charge that targets businesses that profit from an event they were not at fault, such as a significant increase in oil prices.

Only UK profits—a small portion of operations for most oil and gas companies—are subject to the 25% tax.

Companies producing oil and gas in the North Sea are taxed differently than other companies. They first pay a 30% corporate tax and an additional 10% rate on profits. They then pay the windfall tax, bringing their overall tax rate to 65%.

However, by accounting for losses or spending money on things like decommissioning North Sea oil facilities, businesses have decreased the tax they pay. It implies that companies like BP and Shell have paid virtually no tax in the UK in recent years.

Another provision of the Energy Profits Levy enables energy corporations to apply for tax breaks worth 91p of every £1 invested in UK fossil fuel extraction.

According to Downing Street, any modifications to the windfall tax would be addressed in Chancellor Jeremy Hunt’s autumn statement.

Shell reported $400 million in investments in the UK during the third quarter.


Taxes on companies in the oil and gas sector are “inevitable” to aid the most vulnerable. However, he insisted that the energy markets could not act in a manner that harms a sizable portion of society.

However, Frances O’Grady, general secretary of the TUC union, argued that Shell’s earnings were scandalous. Particularly given that millions of people are struggling to pay skyrocketing prices.

Shell has recorded profits of $30 billion thus far this year, more than double its earnings from the first nine months of 2021. The business also intends to enhance its regular dividend by 15%. And is on course to surpass its previous record of $31 billion in yearly earnings set in 2008.

Meta earnings hit by ad sales slowdown

A disappointing set of financial reports from the digital behemoth have caused shares in Meta, to drop more than 20%.

Investors are skeptical of Mark Zuckerberg’s plans for future expansion, and sales and profitability are falling.

Sales at Meta fell 4% over the three months ending in September to $27.7 billion (£24 billion), but earnings fell by half.

If the losses continue through Thursday’s end, the share decline is expected to devalue the company by $78 billion.

According to Mark Zuckerberg, virtual reality is the new frontier that will propel Facebook’s expansion. However, there has yet to be much of it thus far.

Shares of the corporation are now worth much less, and revenues and profitability are also plummeting.

On Wednesday, things worsened as the company called Meta gave investors an update on the three months that ended in September.

Sales decreased by 4% to $27.7 billion a year ago, cutting earnings in half.

The corporation, which also owns Instagram and WhatsApp, is having trouble as businesses lower their advertising budgets in the face of the uncertain economic climate, changes to Apple’s privacy settings reduce the effectiveness of their targeted ads, and competitive competition from TikTok is intensifying.

Nearly twenty years ago, Mr. Zuckerberg, who established Facebook, acknowledged the company was facing immediate difficulties.”

He stated that the business was concentrating on improving its efficiency and hinted at layoffs by stating that the corporation might be a “smaller organization” next year.

Torrid year for Meta

When the company disclosed in February that it had lost daily users for the first time, investor confidence plummeted. Then, in July, the business recorded its first quarterly revenue decrease. As businesses slashed their advertising budgets in response to the gloomy economic outlook.

The company’s value has reduced by hundreds of billions as a result of its shares selling about 60% below where they were at the beginning of the year.

In after-hours trading, they fell another 15% as executives issued a caution.

According to Insider Intelligence analyst Debra Aho Williamson, the company’s business is currently in a precarious position.

The Metaverse that never was

The decision by Mark Zuckerberg to direct his company’s attention to the metaverse’s potential for the future diverted his attention from the unfortunate reality of the present. Meta is under a lot of stress.

Meta earned $4.4 billion in the three months that ended in September, and the company has managed to halt a user decrease.

According to the company, the number of daily users on one of the business’s platforms increased. Going from 2.88 billion in the previous quarter to 2.93 billion in the three months that ended in September.

Even if the US and Europe are not adding new users to the primary Facebook network, it is expanding globally.

Despite its advantages, many investors worry that the corporation has become disoriented.

As it has been questioned about how it should handle the spread of fake news and safeguard user privacy. Facebook’s costs have increased in recent years.

The business announced that it was “making significant adjustments across the board. To enable it run more efficiently” and intended to maintain a flat headcount the following year.

After payrolls soared from approximately 17,000 to more than 87,000, rising 28% from the previous year.

However, it issued a warning that losses at its Reality Labs division, has suffered a sharp decline in revenues.

Mr. Zuckerberg is dedicated to the idea despite the doubts.

Skechers escorted Kanye West out

Ye, also known as Kanye West, is alleged to have have been escorted to leave the shoe company Skechers.’ After showing up “unannounced and uninvited” at its Los Angeles headquarters.

The company further stated that it had “no intention” of working with the rapper and designer.

After Ye’s anti-Semitic comments on social media, Adidas, the world’s largest sportswear company, severed ties with him.

BBC is in in touch with Ye’s close associates for comment.

Skechers claimed in a statement that Ye came to its headquarters with a group and was “involved in the illicit recording.”

After a brief talk, the group was led out of the structure.

The rapper lost his spot on Forbes magazine’s billionaire list. As the allegations continues to impact his revenue. According to the magazine’s estimation, his net worth has reportedly decreased from $1.5 billion (£1.3 billion) to $400 million.

Ye, who suffers from bipolar disorder, has recently gotten into several high-profile fights with significant companies, and several of them have severed connections.

Your moods can fluctuate from one extreme to another if you have bipolar disorder, a mental health condition. Manic depression was the previous name for it.

Ye responded on Instagram to the well-known talent agency for the entertainment industry Ari Emmanuel. The latter had urged companies to discontinue working with Ye due to his anti-Semitic remarks.

Adidas cut ties with Ye on Tuesday, stating it “does not condone antisemitism and any form hate speech.”

Adidas announced that they would immediately stop selling his items. After the rapper displayed a “White Lives Matter” T-shirt design during Paris Fashion Week. Adidas decided to review the existence of the partnership last month.

Kanye West’s discriminatory comments

Days later, the rapper made anti-Semitic remarks on his Twitter account, which resulted in blocking his account. Ye received a second disbarment after he rejoined Twitter following his suspension and declared that he would “go death con 3 On Jewish people.”

Adidas would have a net loss of £217 million in 2022 as a result of ending the highly profitable deal, according to the report.

The Foot Locker retail company then declared that it would stop carrying Yeezy-branded products because it “would not condone any racist and discriminatory behavior.”

The company stated that it had told its store managers to remove any current merchandise from our internet stores and store shelves.

Read Also: Adidas terminates deal with Kanye West 

Ye’s $15,000-a-year Christian school founded earlier this year has shut its doors. According to the principal of the California-based Donda Academy, who responded to an email from The Times. “At the discretion of our founder, Donda Academy will close for the balance of the 2022-2023 academic year beginning immediately.”

The rapper no longer works with the investment bank JP Morgan and the fashion label Balenciaga. Additionally, his talent agency dropped him from their clientele.

Gap, which broke up its partnership with Ye in September, is immediately taking action to remove Yeezy Gap merchandise from its physical stores and online site.

The newly finished documentary on the rapper will premiere on Monday, according to the film and television production company MRC.

Additionally, this week, Madame Tussauds in London took down their wax replica of Ye. The amount had been, it stated, retired from the floor of the attraction to our repository. Every profile at Madame Tussauds London has earned its spot. And we pay attention to what the public and our visitors want to see there.

Sam Smith and Kim Petras pioneer as first nonbinary and transgender artists to hit #1 on the Billboard Hot 100

Sam Smith and Kim Petras are the first openly nonbinary and transgender artists to hit the top of the Billboard Hot 100.

The two artists collaborated on the widely circulated song “Unholy.”

Billboard confirmed their accomplishment on Twitter, writing:

“@samsmith and @kimpetras are the first publicly non-binary and transgender artists, respectively, to earn a No. 1 song on the #Hot100, thanks to ‘Unholy.'”


The collaboration between Sam Smith and Kim Petras has been teased for a while, and the highly anticipated song finally launched last month.

“Unholy” is a compelling song about an illicit relationship in a family witnessed by the son of a man.

A preview of the song made it one of TikTok’s most used sounds.

The “Unholy” music video received over 29 million views on YouTube.


The success of “Unholy” marks a significant milestone for Sam Smith and Kim Petras’ careers.

For Smith, it is their eighth number-one hit in the UK, including the Grammy-Award-winning song “Stay With Me.”

However, “Unholy” marks Kim Petras’ first mainstream success on the Billboard Hot 100.

Sam Smith and Kim Petras

Kim Petras is a transgender woman and the first to reach a milestone in the music industry.

She took to Instagram to share the news with more than 777,000 of her followers.

“Sam, I can’t thank you enough for riding with me for years at this point,” Petras wrote.

“I’m so honored to be part of your first number one in the US which you should have 500 of at this point.”

“I love you forever angel Sam.”

Meanwhile, Sam Smith shared with their fans that they were “speechless, overwhelmed, nauseous, and extremely happy.”

“I am so honoured [sic] to get to work with such incredibly talented musicians and humans.”

“And Kim… what magic you are. You are a treasure and an inspiration to so many. Thank you for jumping with me.”


Sam Smith and Kim Petras collaborated on the song for Smith’s “Gloria” album.

The album will be released next year in January.

The latest album by the Grammy Award-winning artist, “Love Goes,” was released in 2020 and generated hits such as “Dancing with a Stranger” and “Diamonds.”

Meanwhile, Kim Petras made her official debut with “I Don’t Want It at All” in 2017.

In February, she released her EP “Slut Pop.”

Kim Petras previously told the British outlet Metro that despite being a transgender activist, she wants to showcase her talent, not shift the focus on her gender.

“I want to be taken seriously,” said Petras.

Like any other artist, the artist wants to be judged on the quality of her music, not on her gender.


Sam Smith and Kim Petras are first nonbinary and trans artists to reach number 1 on Billboard chart

Japan: What is the latest on the yen?

Japan was the first significant country to lower interest rates to zero at the turn of the century.

Many other nations used the same strategy to assist their economies during the Covid epidemic.

However, on Friday, the Bank of Japan (BOJ) held its introductory rate below zero, although those nations are already boosting interest rates. And that hurts the value of its currency.

Investors have historically purchased the yen during times of crisis because it is long seen as a haven.

However, that situation is currently precarious. Its value versus the US dollar has fallen by more than a fifth this year alone, bringing it to its lowest point since 1990.

Why is this happening?

The disparity between Japanese and US interest rates has caused the yen to decline.

To combat the cost of living, the US Federal Reserve has aggressively increased its prime interest rate from 0.25% to 3.25% since March.

A currency becomes more appealing to investors when its interest rates are higher.

As a result, there is a decrease in demand for currencies from nations with lower rates, which causes the value of those currencies to decrease.

However, other experts think that the weak yen accurately reflects the nation’s financial situation.

In the past three decades, the economy has rarely expanded. It also has the highest level of debt on the entire planet.

Japan likewise faced a demographic time bomb caused by a low birth rate and the world’s most significant percentage of older people.

Although the government has permitted some foreign laborers to assist in problem-solving, there is still fierce opposition to immigration.

Will rates go up in Japan?

Haruhiko Kuroda, governor of the BOJ, has repeatedly argued that the economy is not strong enough to withstand higher interest rates.

Japanese consumers are experiencing growing inflation like much of the rest of the world, but authorities who have long desired price increases have welcomed this.

According to Mr. Kuroda, the bank’s current approach is essential to achieving its 2% inflation target.

Deflation, or declining prices, has plagued Japan for years. However, deflation is terrible for an economy because it causes people to put off purchasing expensive products. After all, they anticipate lower prices.

How can Japan help?

Japan had not supported the yen by intervening in the world currency market in nearly 25 years.

However, officials intervened last month when the currency dropped, investing $21 billion (£18.3 billion).

It was helpful for a while, but the currency soon fell once more, crossing 150 yen to the dollar.

This allegedly led to a new intervention that cost an estimated $37 billion.

Even while traders claimed they observed indications of additional intervention earlier this week, the Japanese government has so far declined to confirm it intervened once again.

Experts have cautioned that these efforts to support the yen will only be practical soon.

What does it imply for clients and companies?

Everything Japan purchases cost more as a result of the weak yen.

The nation is severely reliant on imported gas and oil. However, the amount of money it spent on imports rose by 46% last month due to fluctuating exchange rates and increased energy costs.

However, it’s good news for companies. Money earned by Japanese exporters abroad is far more valuable at home. About 15% of the nation’s entire economic activity, which is significant, is accounted for by exports.

However, over the past ten years, the spending power of Japanese consumers has decreased by half. Today, 10,000 yen only buys you anything worth $67 compared to $132 ten years ago.

Because typical incomes in Japan have barely increased in the past three decades, this is a severe issue.

When people must use the yen to pay for items in other countries, such as when they travel or their children study abroad, the problem becomes much more pressing.

Is this a positive thing for travelers?

Due to the closure of Japan’s borders, the effect of the yen’s decline on the population was minimal.

However, since Japan has begun to welcome visitors, the country is becoming more appealing to travelers as their vacation funds go further, thanks to the currency’s fluctuating value.

Read Also: Japanese yen drops to its lowest in 32 years 

Thirty-two million overseas visitors to Japan in 2019 brought in 5 trillion yen ($33.6 billion; £29.7 billion) in spending.

Even though the number of visitors is currently well below that mark, investment bank Goldman Sachs forecasts that within a year of the nation’s full reopening, foreign spending may exceed 6.6 trillion yen.

What happens to Twitter after Elon Musk’s takeover

Elon Musk claims that his $44 billion (£38 billion) deal to acquire Twitter is final. Bringing to an end several months of drama and bickering between the billionaire and the social media app.

He announced on Twitter, changing his bio to read “Chief Twit.” Adding via a separate tweet that “the bird is freed.”

There has yet to be an official confirmation, and Twitter HQ has been utterly silent about it.

However, Mr. Musk fired the chief executive Parag Agrawal, top financial officer Ned Segal, and the legal and policy executive Vijaya Gadde. So perhaps no one is available to deliver that email. In addition, Bret Taylor, the company’s chairman, appears to no longer work for the company, according to his LinkedIn profile.

Then how may Mr. Musk’s Twitter appear?

A virtual town square

In an uncharacteristically contrite message put on the website on Thursday, Mr. Musk addressed potential advertisers. He claimed to have purchased Twitter to “attempt to serve humanity” and to fulfill his desire for “civilization to have a digital town square” in it.

He appears to be sticking with Twitter’s digital advertising business model, at least for the time being, judging by the fact that he wrote mainly to people who advertise on the platform. However, as the global economic slowdown bites, businesses find less money to spend on marketing. Despite this income starting to dip for titans like Facebook- and Alphabet-owned Alphabet and Meta.

He has in the past uttered dramatic statements about wanting to loosen moderation so that more opinions can be heard freely (Twitter has long been accused of favoring left-leaning, liberal messages, which it denies).

The former US president Donald Trump (who has previously declared he has no desire to return) or, more lately, his friend Kanye West, would he opt to reinstate some of the more contentious tweeters banned under the previous administration?

Still deciding. Currently, Mr. Musk presents a more constrained vision, stating that the platform must be “welcoming,” must follow national laws, and must not turn into “a free-for-all hellscape.”

Twitter express Kanye West due to anti-Semitism, while, Mr. Trump was “permanently suspended” due to encouraging violence.

Ways to rid Twitter of spam

Mr. Musk has railed over the number of spam and bot accounts he alleges clog the site; Twitter has consistently refuted his allegations that the company’s official tally is too low. Although a mass cull would be in order, that would likely impact everyone’s crucial follower counts and might not be the best course of action.

It’s possible that “X, the everything app” is his most intriguing indication regarding his new business. He hasn’t clarified that but many have speculated that he is developing a “super app” similar to WeChat in China. Which would be a one-stop shop for social media, texting, finances, and food orders—basically, daily life administration.

Although applications with various functionalities, like Facebook Messenger and Meta’s WhatsApp, are gradually emerging.

Mr. Musk has made no secret that he adores cryptocurrencies. And Binance, the biggest cryptocurrency exchange in the world, is a fervent supporter of his ideas.

Will Twitter accept cryptocurrency as payment method from businesses? Fans of cryptocurrency would love that, but others who caution against it say it’s still a risky investment. This is because it’s unregulated and, as a result, unprotected in the event of a catastrophe.

Read Also: Elon Musk to lay off 75% of Twitter staff 

We know Mr. Musk to be visionary, unpredictable, ambitious, and innovative. So naturally, the changes are sure to come, and some Twitter followers have already expressed concern.

Amid losses, Credit Suisse cuts 9,000 jobs

To address significant losses and investor worries, banking giant Credit Suisse is overhauling its operations and slashing thousands of jobs.

The bank announced it was adopting “a series of decisive initiatives.” In response to previous scandals and an SF4bn ($4bn, £3.5bn) loss in the most recent quarter.

Over the next three years, 9,000 posts would be eliminated. Although it did not specify where the reductions would occur.

Chairman Axel Lehmann hailed the makeover plan a success.

However, investors had an adverse reaction, as the shares of Credit Suisse fell more than 13% after the news.

Credit Suisse is to raise $4 billion in new capital as part of the reorganization. The Saudi National Bank will contribute $1.5 billion.

It has planned to rebrand as CS First Boston, spin off the bank’s investment division, and close some of its riskier ventures.

By 2025, the workforce will decrease from 52,000 to 43,000, losing 2,700 positions this year alone. Although Credit Suisse is in Switzerland, it has a workforce f 5,500 people.

By 2025, it claimed to assist in reducing its overall cost base by SFr2.5 billion, or 15%.

Additionally, it creates a “bad bank” unit to liquidate high-risk residential assets.

Web of trouble

This is the third effort in recent years to rescue the troubled organization after several scandals rocked the bank.

After a scandal involving covert surveillance operations, Tidjane Thiam, its former chief executive, resigned in February 2020. In addition, the collapse of the Archegos investment vehicle in March of that year left Credit Suisse with huge losses.

Another setback was the demise of the British financial institution Greensill Capital.

Antonio Horta-Osorio, the bank’s chairman, resigned in 2017 after less than nine months in office due to a regulatory violation with Covid. A corruption case involving the tuna fishing sector in Mozambique later resulted in a sanction for the bank.

Authorities penalized the bank this year for a money-laundering scandal involving a Bulgarian drug ring. Its CEO was removed, and saw pressure on its stock prices from investors worried about the firm’s financial stability this month. Its share price has decreased by 50% since January as a result.

The second-largest bank in Switzerland, Credit Suisse, predicted that the restructuring would result in “a simpler, more focused, and more reliable business.”

Performance this year has been impacted by “continuing adverse market and macroeconomic conditions,” according to Ulrich Koerner.

The restructuring, according to JPMorgan analysts, “remains in question,” and the share sale to acquire additional funds will have an impact on the stock price.

The strategy is “only the first stage in a long journey to rebuild confidence and reclaim the trust,” said Andreas Venditti, an analyst with Swiss investment managers Vontobel.

Shares of Credit Suisse suffers

As concerns about the Swiss bank’s financial stability increased in October, shares of Credit Suisse fell sharply.

After the bank’s CEO failed to assuage investors, its shares plummeted by more than 10% but later recovered.

Ulrich Koerner, the CEO, insisted in a memo to colleagues last week that Credit Suisse’s financial situation was sound.

It comes before a reorganization strategy when the bank releases its earnings at the end of October.

Executives at the Swiss bank spent a significant portion of the weekend trying to reassure skeptics about its financial stability.

Concerns over Credit Suisse’s financial situation have caused its shares to decline over the past year.

In July, the bank announced a strategy review and appointed Mr. Koerner, an asset management expert, to succeed Thomas Gottstein as CEO.

Credit Suisse has 5,500 employees in the UK and a sizable hub there.

According to Reuters, the Bank of England is keeping an eye on the situation with FINMA, the Swiss regulator.

Why is BMW making its batteries in the US?

Recently, BMW announced a $1.7 billion investment to help get it’s sizable Spartanburg, South Carolina manufacturing ready to build electric vehicles and SUVs. That amount included $700 million for a nearby battery manufacturing facility’s construction.

The largest factory in the world for BMW is in Spartanburg. However, only 40% of the 40,000 SUVs produced there each year are sold in North America. One hundred twenty other nations receive the remainder as exports.

As automakers prepare to produce more electric vehicles, this announcement is one of several recent ones. Mercedes, Hyundai, Honda, and other companies recently announced plans to build battery plants. In addition, President Biden signed the Inflation Reduction Act into law. It restricts tax incentives for electric vehicles to companies with primarily US-based battery production and raw material sources.

Only US electric vehicles that meet ever-stricter requirements for battery and vehicle manufacture can receive consumer tax credits under the rules. Additionally, they impose revenue and cost caps on customers and US sourcing requirements for battery raw materials. Because of this, purchasers can only receive full tax credits if they and the vehicles match the conditions.

Prioritizing Logistics

However, according to Oliver Zipse, chairman of BMW, that legislation had no bearing on the company’s choice to site battery production in South Carolina. Instead, simple logistics were far more important than everything else.

According to Zipse, the IRA’s regulations encouraging domestic manufacture were not only unnecessary. But also ran the risk of hurting the same American employment they were intended to save.

No matter how “American built” a vehicle may be, the IRA offers no benefits if it isn’t sold in the US. More crucially, Zipse added, protectionist rules that try to keep American-made cars out of reach of domestic consumers risk inciting retaliation and jeopardizing lucrative export trade.

Zipse also cautioned about the unforeseen implications of laws. Such as those in several European and US jurisdictions prohibiting the sale of non-zero-emission automobiles beyond a specific date. For starters, it can indicate a reduction in industry-wide sales.

Consumers will only be able to have home charging stations for electric cars, according to Zipse. Therefore, many may opt to keep their gasoline vehicles longer or purchase used gasoline vehicles in their place.

BMW is yet to favor all-electric vehicles

Some automakers, including BMW rivals General Motors and Mercedes-Benz, have stated ambitions to switch entirely to electric vehicles by a specific date in the future without being concerned about any sales declines. However, BMW has yet to explicitly state that it will only produce electric vehicles in the future.

Electric vehicles, built on unique engineering platforms, are entirely different from gasoline-powered vehicles, unlike some automakers like GM and Volkswagen. For instance, BMW designs their cars to be built as either fully gasoline-powered, plug-in hybrid, or electric vehicles. It highlights the ability of BMW executives to adapt to the market’s need for various car types.

As in the past, he suggested that regulators gradually tighten emissions rules while leaving it up to automakers to determine the most effective means of achieving those goals. But unfortunately, that strategy has yet to manage to stop global warming from worsening so far.

Zipse claimed that BMW may still operate despite whatever the authorities decide.

BMW increases its EV battery capacity in Germany

At its Leipzig factory in Germany, BMW has said it would also be constructing new lines for cell varnishing and battery assembly.

The completely electric Mini Countryman crossover will employ the batteries, according to the premium manufacturer, according to the auto-tech website Electrek.

An earlier report claimed that BMW was streamlining production by relocating to Germany and China from the UK to manufacture its electrified Mini vehicles.

Before several eagerly awaited Mini EV releases, the premium automaker announced adding more battery capacity.

In addition to manufacturing at the Leipzig factory, the Mini Countryman’s all-electric variant will debut in 2023.

In addition, the Mini Aceman, the company’s first all-electric MINI crossover sport activity vehicle will debut in 2024.

Rihanna makes her grand return to music with a track for Black Panther: Wakanda Forever

Rihanna will return to music with a new song for the upcoming Black Panther: Wakanda Forever sequel’s soundtrack.

Lift Me Up

The artist recently posted a short clip of her new single on Twitter.

People speculate that the song “Lift Me Up” is a musical tribute to the late Chadwick Boseman.

Boseman played the original Black Panther in Captain America: Civil War, Black Panther, and two Avenger films.

A press release reveals that Rihanna co-wrote the tune with fellow artist Tems, Oscar winner Ludwig Göransson, and Black Panther director Ryan Coogler.

“After speaking with Ryan and hearing his direction for the film and the song,” Tems revealed.

“I wanted to write something that portrays a warm embrace from all the people that I’ve lost in my life.”

“I tried to imagine what it would feel like if I could sing to them now and express how much I miss them.”

“Rihanna has been an inspiration to me, so hearing her convey this song is a great honor.”

The release date

Marvel Studios confirmed Tuesday that Rihanna is one of the featured artists on the Black Panther: Wakanda Forever soundtrack.

“Lift Me Up” will be Rihanna’s first single in over six years.

Additionally, her song will be streamed on Friday, October 28th.

Marvel Studio shared the news on Twitter with a clip of the glittering Wakanda Forever logo before it transforms into Rihanna’s signature logo.

Rihanna’s fans have not seen the logo used in any context for a long time.


Rihanna fans quickly made the teaser Twitter’s trending topic as thousands shared their excitement over the news.

Her return to music was imminent after confirming last month that she would officiate Super Bowl 2023 in Phoenix.

Rihanna’s last full release was the 2016 album “Anti.”

Since then, she has focused on her career as a businesswoman by launching her cosmetics brand Fenty Beauty and her lingerie line Savage x Fenty.

The artist also vaguely hinted at two different albums for years.

She was also photographed as she was seen walking in and out of the recording studios.

Fans will see more of Rihanna when she appears in the fourth edition of her Savage x Fenty show on Amazon Prime Video.


Rihanna will make her official return to music this Friday

Rihanna to debut new music on ‘Wakanda Forever’ soundtrack

Rihanna returns to music with ‘Black Panther: Wakanda Forever’ original song

Mercedes exits Russia permanently

Following the invasion of Ukraine in February, Mercedes has become the most recent Western corporation to leave Russia.

Beginning in the first week of March, the German company ceased producing in and importing from the nation.

But as of right now, it declares that it would leave the Russian market and sell shares of its subsidiaries to a regional investor.

Ford revealed Wednesday that an agreement to leave the Russian market had also been completed.

In March, the company declared a complete halt to all of its activities in Russia. It now has a 49% ownership in the Sollers-Ford joint venture. But retains the option to repurchase it after five years “should the global scenario alter.”

Following Toyota and Renault, a Japanese company named Nissan left Russia earlier this month.

Nissan lost $700 million (£600 million) when it transferred its operations to a state-owned company for a small cost, allegedly less than £1.

Mercedes’ chief financial officer, Harald Wilhelm, stated that the business didn’t expect its exit from Russia to impact its earnings significantly.

The choice was made after several Western corporations, including Starbucks, McDonald’s, and Coca-Cola, left Russia earlier this year.

Western automakers scale back operation

In the early stages of the war, deliveries to the nation were stopped by other automakers like Jaguar Land Rover, General Motors, Aston Martin, and Rolls-Royce.

When Mercedes stopped exports and suspended operations in Russia early this year, according to James Baggott, editor-in-chief of the industry website Car Dealer Magazine. It was following other businesses’ lead. Nevertheless, a large number of other automakers abruptly left the nation.

In a statement, Natalia Koroleva, chief executive of Mercedes-Benz in Russia, stated that keeping jobs in Russia and upholding promises to Russian clients were the two critical goals of the decision.

According to the AEB Mercedes sold 9,558 vehicles in Russia from January to September, a 72.8% decrease from last year.

Mercedes raises its profit projection

To counteract supply chain bottlenecks that have limited industry productivity this year. Mercedes-Benz increased its full-year profit prediction on Wednesday. This is due to the demand for luxury vehicles and cost savings.

After profits at its vehicles division nearly tripled in the third quarter from pre-pandemic levels. The German automaker said it now expects group earnings to rise by at least 15% this year.

According to chief financial officer Harald Wilhelm, the company is ready for next year thanks to pent-up demand in Europe and a large order backlog. The company will also give special attention to reducing inventory in the year’s final three months. As a result, the company anticipated slightly higher fourth-quarter sales than the prior year.

Mercedes-Benz, then a member of the Daimler Group, promised in 2020 to reduce fixed expenses, capital expenditures, and research and development spending by more than 20% by 2025. This notable improvement in profitability follows that commitment.

According to chief financial officer Harald Wilhelm, the company may need to make more cuts than anticipated to meet that goal due to cost inflation.

Wilhelm responded that individual case-by-case conversations were taking place. When asked how the automaker would support suppliers struggling with increased expenses.

According to him, the firm will continue to prioritize the premium status of its vehicles over volume sales. It has no intention of lowering list pricing or increasing discounting in the face of mounting financial pressure on consumers.

In the third quarter, the automobile division made 4.03 billion euros from 28.2 billion in revenue. Compared to 1.4 billion euros and 23.5 billion in the same quarter of 2019.

The business increased its 12-14% full-year margin prediction for the automobile division to 13-15%.