November 10, 2025
- Visa and Mastercard have settled litigation spanning 20 years as they agreed to slash merchant fees by ~0.1% for five years. The accord came after a judge previously ruled that a prospective $30 billion settlement was too modest (via CNBC).
- Tesla’s head of its Cybertruck program, Siddhant Awasthi, indicated he was departing the company after eight years of service. “Eight years ago, when I started as an intern, I never dreamed I’d one day have the opportunity to lead the Cybertruck program and bring it to reality… I’m confident Tesla will nail its next big mission (especially after last week), and I’m truly excited for the next chapter of my life,” Awasthi wrote on LinkedIn on Nov. 9 (via LinkedIn).
- Diageo is slated to welcome Sir Dave Lewis, known for his previous stint as chief executive of Tesco until 2020, as its newest CEO. “The market faces some headwinds but there are also significant opportunities. I look forward to working with the team to face these challenges and realise some of the opportunities in a way which creates shareholder value,” Lewis said (via BBC).
- Amazon offered up a sneak peak of the deals in store for its Black Friday Week and Cyber Monday sales events, spanning Nov. 20 through Dec. 1. “The savings events will feature millions of deals across popular categories including home, electronics, beauty, and apparel from brands like BISSELL, Beats, medicube, and Nike,” the company noted (via Amazon).
- Restaurant Brands International has made a joint-venture deal with Chinese private equity firm CPE to help fuel overseas market growth for its Burger King QSR business. CPE has agreed to invest $350 billion to help open more Burger King restaurants across China, with the funds also being allocated to marketing, menu changes and broader innovation (via The Wall Street Journal).