Olivia Culpo here to tell you all about the launch of the new Abercrombie spring denim collection,

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China's BYD becomes the world's biggest EV maker after Tesla sales drop for the second straight year.

Plus, as protests in Iran turn violent, President Trump threatens to intervene.

And promises of change meet reality as New York City Mayor Zoran Mamdani takes office.

A big challenge is finding out where to get the money.

He wants to see taxes raised on the city's wealthiest and also raise taxes on corporations. But he needs to get allies up in

the state to go along with it. And that's going to be tough. It's Friday, January 2nd,

2026.

I'm Luke Vargas for the Wall Street Journal,

and this is What's News in your feed once a day over the holidays with the top headlines and business stories moving the world today.

There is a new holder of the title of World's Big biggest EV maker, and it's not Tesla. China's

B.Y.D says it sold over 2.5 million battery electric vehicles last year, a 28% annual jump,

while Tesla sales dropped 9%, its second consecutive annual slide, to 1.64 million cars. Tesla, which saw its sales

dented by the end of U.S. federal subsidies and flagging European demand, is now pivoting its

business toward robotics and autonomous vehicles like the cybercab robo-taxie, which doesn't

have a steering wheel.

Other major American automakers are rethinking their EV plans, and BYD itself faces

big competition from Chinese rivals like Gile and Leap Motor.

Global markets are kicking off the year on a strong note with a familiar trend powering

...