World

Twitter now asks some fired workers to come back

After laying off roughly half the company on Friday following Elon Musk's $44bn acquisition, Twitter is now contacting dozens of employees who lost their jobs and asking them to return.

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Asset managers hit by more bad news over top-ranked ESG funds

Europe’s top ESG fund class may be close to reaching a tipping point.

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French nursing homes giant Orpea to raise €2bn to tackle debt

Nursing homes giant Orpea plans to ask investors for almost €2bn as part of its debt restructuring, according to people familiar with the matter.

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Tech firms face pressure from White House antitrust push

The White House is planning a post-midterms push for antitrust legislation that would rein in the power of the world’s largest tech companies, a last-ditch effort to get a stalled pair of bills through Congress before a predicted Republican takeover in January.

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Ardagh to use hydrogen to fire up Absolut vodka glass bottle facility

Beverages packaging giant Ardagh Group has struck an agreement with Absolut Vodka that will enable the global spirits brand to become the first to move to a partly hydrogen energy-fired glass furnace for large-scale production.

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Pound slides again even as Bank of England hikes key interest rate to 3pc

The pound posted its biggest loss since early October and long-dated UK government bonds tumbled after the Bank of England signalled its terminal interest rate would likely be lower than investors expect, stoking fears the tightening campaign won't be sufficient to tame inflation.

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Germany's Uniper posts record €40bn net loss

Soon-to-be-nationalised gas importer Uniper reported a record €40bn ($39.3bn) net loss, among the biggest in German corporate history, reflecting expected future losses in the wake of Russia's move to stop its supplies.

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BMW and Stellantis see Europe demand slowing as inflation bites

Europe's inflation crisis is beginning to catch up with automakers.

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US Fed hikes interest rates again with hint of smaller rises to come

US Federal Reserve officials signalled their aggressive campaign to curb inflation could be entering its final phase even as they delivered their fourth straight 75 basis-point interest-rate increase.

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Southeast Asia is home to burgeoning social media crypto scams

Indian engineer Stephen Wesley was puzzled when he was asked to take a typing test during an interview for a graphic design job in Thailand - but put it out of his mind when he got the role.

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Euro zone bond yields struggle for direction before Fed decision

Euro zone government bond yields edged down on Wednesday, taking their early cue from U.S. Treasuries ahead of the Federal Reserve policy meeting, which ends later in the day.

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British house prices drop as rising interest rates start to bite for buyers

UK house prices fell the most since the start of the pandemic in October as political and market turmoil sent shock waves through the property market.

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Bumper BP profits and pay out amplify calls for UK windfall tax

BP’s earnings more than doubled in the three months to the end of September as the London-based energy giant benefited from high oil and natural gas prices following Russia’s invasion of Ukraine.

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Insurers pull cover from UN backed Black Sea Ukraine grain route after Russia ends its participation

Insurers are no longer offering new cargo insurance cover for shipments out of Ukraine through a UN-backed safe corridor after Russia suspended its participation, industry sources said.

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Gallery

China’s lockdowns hurt global economic demand as the threat of recession looms

Global factory output weakened in October as widespread recession fears, high inflation and China's zero-Covid policy hurt demand, business surveys showed, adding to persistent supply disruptions and darkening recovery prospects.

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Saudi oil giant Aramco makes $42.4bn profit as global energy prices surge

Oil giant Saudi Aramco has reported a $42.4 billion (€42.65bn) profit in the third quarter of this year, buoyed by the higher global energy prices that have filled the kingdom's coffers but helped fuel inflation worldwide.

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BP joins Big Oil profit bonanza with further share buybacks

BP Plc posted its second-highest quarterly profit on record and announced a further $2.5bn of share buybacks, capping a stellar period for Big Oil after Russia's invasion of Ukraine pushed up energy prices.

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UK house prices fall the most since start of Covid pandemic

UK house prices fell the most since the start of the pandemic in October as political and market turmoil sent shock waves through the property market.

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Penguin Random House $2.2bn takeover of rival publisher blocked by judge

Penguin Random House's $2.18bn acquisition of rival book publisher Simon & Schuster Inc. was blocked by a federal judge who found the merger would lessen competition.