Shell has sued Greenpeace in the amount of £1.7m for a group protesters who occupied a vessel of the oil giant in the North Sea this year. Shell’s CEO Wael Sajan has launched proceedings to shift the company away from green energy, and increase fossil fuel production. Shell’s new focus has already attracted criticism from both employees […]

S4 Capital, owned by Sir Martin Sorrell, has seen its sales fall 15pc as the slowdown in advertising intensified. Digital ad agency reported that revenues for the third quarter dropped to £211.5m, as clients cut back on spending. The London listed company warned that full-year profits would be between 10pc to 11pc, down from the previous forecast […]

AstraZeneca will enter the race to develop a weight-loss pill. It is working on a new class of drugs, which it hopes to use in developing nations to combat obesity. The Anglo-Swedish pharmaceutical company announced on Thursday a licensing deal with China’s Eccogene to produce an oral medicine that belongs to the same drug class […]

After a cargo vessel carrying iron ore to steel giant ArcelorMittal, which was damaged by a Russian missile near Odesa, Ukraine sought to assure shipowners that its Black Sea trade corridor is viable. It is the first civilian vessel to be hit this way since the beginning of Russia’s full invasion of Ukraine in 2014. […]

Inflexion, a UK private equity company, has agreed to sell US investment firm Abry Partners the legal rankings provider Chambers and Partners. This is the latest deal to be made in a sector that attracts heightened investor interest. According to a source familiar with the transaction, Inflexion will receive more than £400mn for Chambers, which […]

According to four people who are familiar with the situation and leaked documents, Nvidia developed three new chips specifically for China to meet the growing demand in the region for artificial intelligence technologies while still complying with US Export Controls. This is the second time, in less than a calendar year, that Silicon Valley’s Nvidia […]

Market participants reported on Thursday that a ransomware attack against the Financial Services arm of China’s largest bank, the Industrial and Commercial Bank of China, has caused the US Treasury Market to be disrupted by forcing customers of the Industrial and Commercial Bank of China (ICBC) to reroute their trades. The Securities Industry and Financial […]

Walt Disney Co. stocks jumped after it reported a higher-than-expected net profit and pledged to cut another $2 billion in expenses. Disney announced on Wednesday that the fiscal fourth-quarter earnings increased to 82 cents per share, excluding certain items. This was higher than analysts’ projection of 69 cents. Revenue was in line with analyst expectations. Bob Iger, Chief […]

Apple’s tax dispute with Brussels over €14.3bn has suffered a setback after an advisor to the EU top court suggested that an earlier ruling on its business in Ireland be rescinded. Giovanni Pitruzzella said that the landmark ruling which ruled against the EU order to Apple to pay back taxes of €14.3bn to Ireland should […]

Britain doubles down on its efforts to unlock a ‘grid ready’ reactor by 2020 After being rejected by a rival EU program due to Brexit, the UK signed an agreement with US to collaborate in nuclear fusion. Andrew Bowie (Britania’s Minister for Nuclear and Networks) announced the partnership in Washington. The two countries will fund research, […]

Airbus’ head has criticized the German government for its ban on the export of new Eurofighter aircraft from Saudi Arabia. He warns that this is damaging to the reputation of the country as an exporter. Guillaume Faury is the chief executive officer of the pan-European Aerospace and Defence group. He said Berlin’s position was “damaging to the […]

Walt Disney reported stronger-than-expected earnings for its most recent quarter and forecast that it would cut another $2bn from its costs while generating higher levels of cash in the coming year. Results come nearly a year after Bob Iger, his hand-picked successor Bob Chapek, returned to Disney to become chief executive. Iger stated that the results reflected […]

Vishay Intertechnology, a US-based chip company, has agreed to purchase Newport Wafer Fab from Chinese-owned Nexperia for $177mn. This agreement puts an end to years of uncertainty regarding the fate of the UK’s largest chip manufacturer. After months of wrangling, the UK government decided to block the sale to Nexperia owned by China Wingtech Technology on national […]

The shares of UK chip designer Arm dropped after its revenue projection for the current quarter disappointed Wall Street in its first earnings release since it went public in September. Arm forecast revenue between $720mn and $800mn for this quarter, which was below analyst expectations. It expects to generate between $2.96bn and $3.08bn of revenue for the […]

After the UK Supreme Court refused to allow him to stop it from being heard in England, Danish authorities were allowed to pursue a tax fraud case worth £1.4bn against financial institutions and Sanjay Shah’s hedge fund at London’s High Court. On Wednesday, the country’s top court ruled that the case against alleged tax fraud […]

According to the cofounder of Europe’s biggest hedge fund, the rise of multimanager hedge funds led to a “merry go round” of portfolio manager being offered “silly amounts of money”. Sir Paul Marshall, the co-founder and CEO of Marshall Wace told a Hong Kong investment conference on Wednesday that the multi-manager platforms were reshaping the […]

The UK tax authority warned it would face additional costs in this year due to 1.2mn people being added to the tax net as a result of higher income and savings rates. Jim Harra told Members of Parliament that HMRC was prepared to handle the growing demand for tax services from taxpayers. This came after fears that […]

The UK’s leading Rolex dealer expects a surge in the sale of second-hand luxury timepieces as inflation squeezes wealthy consumers’ spending. Watches of Switzerland, a retailer of upmarket watches, said Tuesday that used timepieces will make up a large part of its sales in the next five year after pre-owned watch sales rose by 80pc […]

Rishi Sunak’s plan to boost the energy security of Britain by granting new North Sea licenses each year is being questioned by those who claim Britain won’t be able to handle crude oil. Campaigners warn that by 2035 up to half the oil produced from the North Sea won’t be compatible with UK refineries. The refineries in […]

The Glazer family is in talks with British chemicals magnate Sir Jim Ratcliffe about potential investments. A top shareholder of Manchester United said that he had no idea what the future held for the Premier League football team. Nick Train described the negotiations over a possible deal as “extraordinarily complex and long”. This is almost […]

According to data from the sector, UK grocery inflation is now at single digits after 16 months of steep increases. This will give households hope that food prices can normalise in the months to come. Research company Kantar reported on Tuesday that the annual rate of price increases at supermarkets in the four-week period ending […]

The first dollar bond deal since April raised $2.5bn by Turkey, as its new economic policies have attracted investors who had abandoned Turkish assets. According to a termsheet, the country received bids of more than $7bn on Tuesday for a five-year dollar sukuk. A sukuk is a debt instrument that conforms with Islamic religious laws. […]

China, the world’s biggest producer of methane (a powerful global warming gas), has played an “opening move” before the UN Climate Summit by promising to track and reduce harmful emission from the gas. In a Tuesday statement, China announced that it would take “more forceful” measures to combat methane with just three weeks until policymakers […]

The oil prices fell to their lowest level in over three months on Monday, with hedge funds betting the conflict won’t draw in oil-rich countries in the region. Brent crude, which is the international benchmark for oil, fell 4.2 percent to $81.61 per barrel. This was a drop from levels last seen at the end […]

UK gilts rose sharply on Monday as traders took advantage of comments made by a senior Bank of England official who suggested that the Bank may be prepared to consider lowering interest rates in mid-next year. After Huw Pill said that market expectations of cuts starting next summer are not unreasonable, the yield on the […]

In the wake of Russia’s invasion of Ukraine, Britain and Poland have agreed to a £4bn (£3bn) air defence contract, which is the largest export contract ever between the two nations. The UK will provide Polish forces with an air defence system that can counter threats like cruise missiles or fighter jets from a distance […]

According to the owner, food inflation could be gone by Easter if there are no more shocks to global system. George Weston, chief executive officer of Associated British Foods, which owns Primark, a budget clothing chain, stated: “Food prices inflation reached 20% last year, and I think by the end of 2024, it will be near […]

Ryanair’s profits reached a record high in the spring and summer due to a combination of soaring fares, and additional charges. Dublin-based airline, Ryanair, has begun paying dividends in anticipation of the possibility of Europe’s largest airline reporting a full-year profit more than a quarter above previous records. The company also expects to grow for […]

Since the Russian invasion of Ukraine in 2014, more than 100 UK companies admitted to violating sanctions against Russia. As of May 17, the Office of Financial Sanctions Implementation, or OFSI, recorded that 127 companies had reported sanctions violations voluntarily. The UK government has added hundreds of people and organizations linked to Russia to the […]

It has been reported that the Information Commissioner’s Office has dropped its investigation into a Hack affecting millions EasyJet customers, because it believes “limited resources” would be better spent elsewhere. Hackers stole nine million details of people in the 2020 attack . EasyJet called GCHQ’s National Cyber Security Centre for help. The ICO, the data watchdog, […]

British Gas’s owner Centrica has backed plans to build a 12-mile barrier that will prevent tidal flooding in The Wash, despite the backlash of green campaigners. The £3bn barrier would run from Skegness, Lincolnshire, to Hunstanton, north Norfolk. Developers believe that it could generate enough renewable energy to power up to 600,000. It will also […]

Grant Shapps warned Aviva to avoid any “immoral withdrawal” of support for defence companies after a letter sent by the company to investors caused a backlash. Aviva, which manages £221bn in assets, including insurance and pension funds told its customers last week that it would be selling “certain companies” who did not meet the Aviva […]

Klarna has reported its first profit quarter in four years, as it prepares to list on the stock exchange. The fintech company in Sweden made a net income of 90mn (€8mn ) during the third quarter. This compares to a loss of just 2.1bn one year ago. Revenues increased by 30%, reaching 6bn. It nearly halved […]

According to a European Central Bank study, geopolitical tensions have prompted more multinational companies signaling plans to move production to countries that are closer to their final market. The ECB discovered that almost four times more European multinationals have said they will shift production to countries with friendly political systems — a phenomenon called “friend-shoring,” […]

British Steel plans to close two blast furnaces on its flagship site in Lincolnshire within the next three-years and replace them with a less carbon intensive steelmaking technology. This could put up to 2,000 job opportunities at risk. The second largest steelmaker in Britain, owned by China’s Jingye, announced that it would invest £1.25bn into […]

OpenAI has launched custom versions of ChatGPT, which can be tailored and adapted for specific applications. This transforms the chatbot interface to a digital platform similar to iOS or Android. The GPTs are tools that can be created in plain English to help with tasks such as tutoring children in maths, designing a website, or […]

Revolut has begun talks with Canary Wharf to relocate its headquarters. This would be a significant vote of confidence in the London business district, which is currently facing higher vacancy rates as well as the loss of HSBC, one of its most important tenants. Fintech firm is in talks to lease 113,000 sq ft at […]

A financial crisis that has engulfed Signa Group, Rene Benko’s property empire in Austria, has cast doubt on the future ownership of Selfridges. Signa shareholders, who bought Selfridges last year in a £4-billion deal with Central Group of Thailand, ousted Benko from his position as chairman, as cash crunch threatens Benko’s €23-billion empire (£20-billion). The […]

Jumbo scallops are a favorite ingredient in classic sushi plates. They come from the northern Japanese town of Betsukai on the island Hokkaido. The Japanese government has been urging the public to eat at least five bivalves a day for the last month to reduce the stocks that have built up since Beijing banned the […]

The Danish climate minister said that EU farmers must pay for their greenhouse gases emissions. This comes as Brussels struggles with reining in a sector which is projected to be the biggest polluter of the EU by 2040. Lars Aagaard stated in an interview that farmers who produce the least amount of carbon per tonne […]

Amazon, Microsoft, and Alphabet, the parent company of Google, are all expected to increase capital expenditure as they build up their capacity to support the growth in generative artificial intelligent. Over the last few years, the Big Tech groups that together dominate the global market for cloud computing have increased their investment in the infrastructure […]

Elon Musk’s artificial intelligence startup xAI released its first AI Model. The tech billionaire is looking to take on OpenAI with a sassy, chatbot that’s tightly integrated with X formerly Twitter. Musk said Grok has “real-time access” to the information on X, the social network platform Musk purchased for $44bn a few years ago. He […]

Wael Sawan, the chief executive of Shell, plans to make the company “leaner”, and more selective in its investments in energy transition. He defended the shift in focus which has caused several senior executives in the green divisions to leave in the last six months. Since taking the top job at the company in January, […]

Ken Griffin, founder and CEO of the $62bn US hedge funds Citadel, warned regulators to focus on banks instead of his industry, if they wanted to reduce the risks in the financial systems stemming from leveraged wagers on US Government debt. The global regulators have warned of the growing risks associated with the so-called Treasury Basis […]

Berkshire Hathaway’s cash pile soared to a new record of $157bn during a quarter when chief executive Warren Buffett sold stakes in publically traded companies as the Oracle of Omaha struggled to find appealing investments. According to the results announced on Saturday, Berkshire sold US and foreign stock worth more than $5 billion in the […]

Sam Bankman-Freed, the founder of FTX, has been found guilty in a fraud trial. This has significant implications for the broader cryptocurrency industry. Bankman-Freed now faces potential decades in prison as a result of his conviction. The sentencing process will take into account factors such as the amount of loss involved and his leadership role within the organization.

Amazon made more than $1bn extra profit using a secret pricing algorithm, US antitrust regulators claim in a lawsuit accusing Amazon of abusing its monopoly to harm both consumers and sellers. On Thursday, previously redacted portions from the Federal Trade Commission Complaint that was filed in September revealed new details. These included how Amazon used an algorithm […]

Shell announced a larger than expected $3.5billion share buyback, even though the oil and gas company’s quarterly profit fell by a quarter to $6.2billion due to lower prices. Wael Sawan is the chief executive officer of FTSE 100 Energy Group. He said that it will not follow its US competitors in making large acquisitions, but […]

Lloyds Banking Group Plc turned down the Barclay Family’s latest bid to reclaim The Telegraph, in order to reassure bidders for an ongoing auction. According to a source familiar with the situation, the lender turned down a £1billion ($1.2billion) offer from a Middle East investor. The bank told the family that they could either bid at […]

As high interest rates squeeze finances, many British mortgage holders miss payments and have their debit cards refused. The number of mortgages that are in arrears on the UK residential portfolios of Pepper Advantage Technologies Ltd., a loan-servicing company to banks, increased by 23% from July to September compared with a year ago. This is the […]

Barclays Plc has re-established its presence on a market that it left a little more than a decade earlier: carbon trading. According to sources familiar with the hiring procedure who declined to identify themselves because they were not authorized to discuss job changes, the London-based bank hired Oliver Morning, a Shell Plc veteran, to lead […]

Zambia and Democratic Republic of Congo, which are rich in minerals that are essential for the production of batteries as well as other renewable energy components have been chosen to be the next venue in Washington’s and Beijing’s struggle to gain an advantage. In order to counter China’s dominance in the world, Biden saw an […]

Apple Inc. warned that the revenue for the holiday quarter would be similar to last year. This means that investors will not see the growth they had hoped for. Luca Maestri, Apple’s Chief Financial Officer, said that while iPhone revenue will increase in the quarter ending December, the overall sales of the company will remain […]

The financial markets may disagree with Bank of England Governor Andrew Bailey’s claim that it is too early to consider rate cuts. The BOE is expected to cut the benchmark rate by up to three quarter points, or 4.5%, before the end of 2024. Investors’ bets are in stark contrast to the message Bailey reiterated […]

WeWork, a flexible workspace provider that plans to file bankruptcy as soon as next week. This is a dramatic turn of events for a company once valued at $47 Billion. The Wall Street Journal broke the story first, and shares of the company dropped 39 percent to $1.40 at the end of New York’s late […]

The Eurozone’s GDP shrank over the last three months, while inflation fell faster than analysts had predicted. This indicates that the European Central Bank has tightened the economy’s belt more than it was expected to. Eurostat’s flash figures show that the output of the 20 euro-using countries contracted by 0.1 percent in the three month […]

After it announced that a funding round was not going ahead, shares in a “carbon negative” jet fuel manufacturer which has received tens and millions of pounds worth of grants from the government collapsed by over two thirds. Velocys, a company quoted on London’s Aim Market, has said that the conditions for securing $15 million […]

BP announced yesterday that its quarterly profit had dropped more than expected due to “weak” performances by its gas traders. The London-based oil giant’s shares fell sharply after its underlying third-quarter net profit dropped by 60% to $3.3 billion. Oil and gas prices have also fallen from their highs of last year. The shares dropped 24p […]

Next has increased its full-year profit guidance for the fourth time in five months despite unusually warm weather hitting demand for its autumn range. The fashion and homewares retailer now expects annual pre-tax profits to be £10 million higher at £885 million, above the £870.4 million it made in 2022-23. Next, regarded as a bellwether […]

Two projects in the United States were scrapped by the world’s largest offshore wind developer, resulting in a £4.6bn loss. This is a major setback for America’s renewable energy sector. Orsted, a Danish energy company that operates a large part of the North Sea wind industry, lost billions of pounds in value as a result […]

Lloyds Banking Group Plc, according to sources familiar with the situation, is working with investment bankers on the sale some assets of its pension provider Scottish Widows. People familiar with the matter said that Morgan Stanley and Fenchurch Advisory Partners are advising the British bank to sell a portfolio of bulk annuities worth £6 billion […]

Apple Inc. lost its bid to dismiss the London class-action lawsuit accusing it of misleading iPhone customers about a controversial power management feature. According to a decision made on Wednesday, the Competition Appeal Tribunal (the court that deals with collective proceedings for UK) has ruled that the class action may now proceed provisionally. Apple’s lawyers had requested that […]

Vodafone’s new CEO has completed a €5-billion sale of its Spanish operations to an investment vehicle listed on the London Stock Exchange. This is the second major deal that the group has made in its quest to streamline its vast empire. Zegona Communications, a company listed on the FTSE 100, plans to acquire Vodafone Spain […]

Fortnum & Mason plans to expand into the US due to growing demand for British classics like tea and jam. Tom Athron said that Fortnum & Mason would be opening a warehouse in America so they could start selling their products directly to Americans. Mr Athron said: “About one-third of overseas customers at Piccadilly come from […]

WeWork plans to file for bankruptcy next week. The Wall Street Journal reported Tuesday that the flexible workspace company will likely file for Chapter 11 bankruptcy in the US. Following the reports, shares of WeWork fell by more than 30% during after-hours trading. WeWork, a company that sublets office space on a monthly basis after […]

According to new data, UK grocery inflation is at its lowest level in over a year. This is due to the falling price of locally grown food. The British Retail Consortium announced on Tuesday that the annual shop price -inflation rate dropped from 6.2 percent in September to 5.2 percent in October, marking the fifth consecutive month […]

According to official statistics, corporate insolvencies in England & Wales reached their highest level since global financial crisis six months prior to September. Businesses were struggling with high borrowing rates and a slowing of demand. Insolvency Service statistics from Tuesday revealed that there were 6,208 registered company insolvencies between July 1 and 30 September in England and […]

Blackstone Group has sold a stake in the Spanish hotel group Hotel Investment Partners, to Singaporean sovereign fund GIC. This will allow for expansion of the business at a time where borrowing costs are on the rise. GIC is acquiring a 35 percent stake in HIP in a deal valued at over €4bn. In a […]

Toyota will invest an additional $8bn in its battery plant in North Carolina. This is the largest investment made by a foreign automaker since the US passed their Inflation Reduction Act 2022. By 2030, the newly announced funding will bring the Japanese group’s investment in this plant – one of the largest outside Japan – […]

The eurozone inflation rate fell to 2,9% in October, the lowest level for over two years. This has boosted expectations that European Central Bank won’t raise interest rates any further. This is the lowest annual increase in consumer prices in the region since July 2021. According to Eurostat the EU’s statistics arm, it was due […]

According to UK investment bank Peel Hunt, the market for Britain’s small and medium-sized stocks is rapidly shrinking, putting London’s reputation as an international financial centre at risk. The UK market is losing more companies than it is gaining. This is due to a lack of IPOs and a rush of takeovers from overseas firms. Peel […]

BP Plc’s third-quarter profits rebounded from prior periods, but fell short as weak results in the gas marketing sector offset a good performance in oil trading. As of 8:03 am in London, shares of the company dropped 4.1% to 505.2p. BP, like its Big Oil counterparts, saw earnings that were below the record levels of […]

The World Bank warned that if the conflict escalates in the Middle East, crude prices could reach $150 per barrel. This would be a return to the oil price shock of the 1970s if major producers cut their supply. In its quarterly Commodity Markets Outlook the multilateral lender warned that a prolonged Israel/Hamas conflict would cause a […]

The US Securities and Exchange Commission has sued SolarWinds. This IT company was breached in 2020 by Russian hackers, as part of an extensive espionage operation. The SEC filed a complaint on Monday accusing the company, and its chief information security officer Tim Brown, of misleading investors through omissions about “known risks”, and inaccurately describing their cyber […]

Sundar Pichai admitted that agreements allowing Google’s search engine to be the default for smartphones and web browsers could be “very valuable” as Alphabet CEO took the witness stand at the largest monopoly case in 25 years. Pichai said to the court that the deals his company made with technology companies, smartphone makers, and mobile […]

The company informed its employees that the equity of social media platform X (formerly Twitter) was valued at $19bn. This is a year after Elon Musk purchased it for $44bn. Two people who are familiar with the issue say that the company sent an internal memo to its staff on Monday in which it announced […]

HSBC Holdings Plc has announced a new buyback program, hinting at potential future returns for investors despite announcing a third-quarter profit that fell short of market expectations. The London-based bank announced it would soon begin purchasing an additional $3 billion in its shares. This will bring the total stock repurchases this year to $7 billion. HSBC CEO Noel […]

Britain announced on Monday that it will implement its first set rules to regulate crypto, requiring participants in the market to be authorised prior to offering services to consumers. Cryptoassets are still a small part of the global financial system. However, the price of Bitcoin has recovered since the collapse of FTX crypto exchange raised […]

According to sources familiar with the issue, the UK and EU are pushing the richest countries in the world to stop subsidizing foreign oil and gas production and coal mining. This will happen at a closed door OECD meeting scheduled for next month. At the , OECD headquarters in Paris, the proposal to cut the largest foreign […]

According to a recent forecast, UK home insurance premiums are likely to increase by over a third in the next two-year period. This is because insurers will be responding to their worst underwriting year in decades by increasing rates. Last year, home insurance losses were a result of a combination of weather fluctuations, high inflation […]

After regulators raised the bar on initial public offerings to select domestic champions who can assist Beijing in its drive for technological self-sufficiency, a record number of companies dropped their plans to list at Shanghai’s technology-focused stock exchange. In 2023, 126 companies cancelled or suspended IPOs on Shanghai’s Star Market. This is more than the four […]

The largest luxury yacht maker in Britain has suffered a £30m (£20m) loss due to severe supply issues that prevented it from completing production on schedule. Will Green, the chief executive officer of Princess Yachts said that the company had to scramble for parts in order to finish their boats due the impact the pandemic […]

Michael O’Leary, the chief executive of Ryanair, has warned Boeing that if it does not meet its deadlines he will cancel all aircraft orders . The warning comes only days after US Aviation giant announced new delays in deliveries of its flagship 737 Max. Ryanair’s winter schedule has already been altered due to Boeing’s setbacks, causing […]

Noel Quinn is the chief executive officer of HBSC – the seventh largest bank in the world. He says that “a global reckoning” could be on its way. After the 2008 financial crash, and then again during the Covid epidemic, government debts exploded. Quinn said last week that this could lead to “a tipping-point on fiscal […]

Rishi Sunak is preparing to launch AI Summit and calls for UK-backed bots The chief executive of an important government artificial intelligence (AI), supplier, has called on Britain to build a competitor to ChatGPT. Marc Warner, the CEO of Faculty, which has been contracted by government officials to do research in advance of the AI […]

In an effort to lower their interest rates, landlords are settling mortgage debt worth millions of pounds. New analysis shows that buy-to-let landlords have been paying down their mortgages for the past nine-months in an effort to minimize the impact of higher borrowing rates . Many landlords will face higher monthly payments once their fixed […]

In the last 50 years, three of the four debt tidal wave that hit the world economy ended in crisis. Latin America suffered a lost decade during the 1980s. Asia experienced a severe downturn during the 1990s. The 2008 global financial crisis sent shockwaves throughout the world. It is still unknown what will become of […]

Amazon has revealed its biggest profit since the lockdown online shopping boom after a leap in sales. The internet retail giant said revenues in the third quarter of the year grew by 13pc to $143.1bn (£118bn), while profits more than trebled, to $9.9bn. The figures marked a revival for Amazon, which has suffered from slowing […]

Euroclear earned over €3bn this year in profits from Russian assets that were frozen by EU sanctions at the securities depositories. This windfall is likely to increase pressure on European leaders for them to send the profits to Ukraine. The Belgian-based group announced on Thursday that the income from trapped Russian assets increased in the […]

Ineos Group, the chemical company owned by British businessman Jim Ratcliffe, has assured creditors that it will not tap into its chemical empire in order to finance an offer for a share in Manchester United. Ineos Quattro executives, a petrochemical division of Ratcliffe’s group, informed creditors on Monday that the funding for the football club […]

London Heathrow Airport has raised its forecasts for 2023 in terms of passenger traffic and cash flows. The airport said that business travel was almost back to the pre-pandemic level and volumes with Asia were on the rise. The hub, one of Europe’s biggest, made progress in several areas. It reported positive quarterly results during the […]

The Russian billionaire Mikhail Fridman has failed to get some relief from the strict sanctions that were imposed after a UK Court denied his request to access extra cash for paying for staff and upkeep of his mansion in north London. The court agreed that the UK Office of Financial Sanctions Implementation had determined the […]

Jaguar Land Rover is building an electric version off-road Defender in Slovakia, as part of the company’s commitment to manufacturing the British vehicle outside its own country. JLR has not revealed any details about its electric plans, but a spokesperson has confirmed that Nitra, Slovakia will remain the “home of Defender”. Range Rovers are made in the […]

Mattel’s sales have risen for the first time since last year thanks to the Barbie film. The US toymaker credits the film, the first featuring the world’s famous doll and first released by the new in-house division of the company, with a 9% increase year-on-year in sales between July-September to $1.9bn. This included a 27% increase in […]

Mercedes-Benz said that the electric car market was “brutal” to carmakers due to intense competition forcing them lower prices. The sales of electric cars in Europe and China are on the rise, while the US is further behind. However, the rush of new launches puts pressure on European car manufacturers, who are now struggling to compete against […]

European Central Bank paused the most aggressive cycle of rate increases since the introduction of the Euro amid rising fears over the economy of the eurozone. The ECB made a widely anticipated decision on the financial markets by leaving its key policy rate unchanged for the first year. This was after a series of 10 increases […]

Researchers from Eisai and Eli Lilly presented a study that showed the benefits for patients of using new Alzheimer’s medications very early in its development. The Japanese pharmaceutical group Eisai has revealed that a new analysis shows 60 percent of patients in the very early stages Alzheimer’s disease showed clinical improvement after taking Leqembi over […]

In a letter addressed to Ursula von der Leyen, the Commission’s President, Europe’s largest auto lobby group has redoubled its efforts to get the European Union not to impose tariffs on new electric vehicles after Brexit. The European Automobile Manufacturers’ Association, which includes Volkswagen, BMW, and Renault, wrote that the European Commission had taken “no […]

People with knowledge of this matter claim that UBS Group AG has extended a credit line of $9 billion to one of Middle East’s largest investors, as Sergio Ermotti tries to retain the ultra-rich in the region following Credit Suisse’s takeover. People who asked not to be identified while discussing private details said that the […]

Gas prices are still around 50 euros ($53), more than twice the average of the decade prior to Vladimir Putin’s invasion in Ukraine. It’s never too early to start planning and imagining a future that is less dire: Instead of a world of scarcity there will be abundant supplies of liquefied gas provided by the […]