EU tells Apple how to open up to rivals, to spell out how
EU antitrust regulators launched proceedings this week to ensure that Apple (AAPL.O) complies with landmark rules requiring it to open up its closed ecosystem to rivals or risk a ...
Retail veteran Stuart Rose to lead Asda
British supermarket group Asda said its chairman, veteran retailer Stuart Rose, would assume the executive responsibilities of co-owner Mohsin Issa, who is stepping back from his leadership role.
The UK’...
UK retail sales beat expectations in August
British retail sales rose by a stronger-than-expected 1 per cent in August and growth in July was revised up, official figures showed on Friday.
Economists polled by Reuters had forecast a ...
Russia weighs massive exit tax hike for departing foreign firms
Russian authorities are discussing raising the one-off contribution that foreign companies leaving the country must make to the state budget to as high as 40 per cent from 15 per cent, the ...
ECB faces calls for caution after Fed rate cut boosts easing expectations
A big interest rate cut from the US Federal Reserve on Wednesday raised bets on further policy easing at the European Central Bank in October but this is still not ...
Norway holds rate, to maintain restrictive policy
Norway’s central bank held its policy interest rate unchanged at a 16-year high of 4.50 per cent on Thursday, as widely expected, and said any cuts must wait until the ...
EV sales nosedive 44 per cent, EU car sales hit 3-year low
New car sales in the European Union fell 18.3 per cent in August to their lowest in three years, dragged down by double-digit losses in major markets Germany, France and Italy ...
BoE holds interest rates steady at 5 per cent, extends bond sell-off
The Bank of England held interest rates at 5.0 per cent on Thursday and voted to run down its stock of British government bonds by another 100 billion pounds over the coming 12 ...
UK house prices rise for fifth month in July
British house prices rose by an annual 2.2 per cent in July, the fifth monthly rise in a row but the pace of increase cooled and was below a revised 2.7 per ...
MUFG appoints Yoshi Katsuda as Middle East regional head, based in Dubai
Mitsubishi UFJ Financial Group has appointed Yoshi Katsuda as regional head for the Middle East based in Dubai, Japan’s largest bank by assets said in a statement released this ...
UK inflation steady in August, services prices accelerate
British inflation held steady in August but sped up in the services sector which is closely watched by the Bank of England, data showed on Wednesday, adding to bets that ...
BoE rate cut to lift UK housing market but concerns persist
Britain’s housing market recovered momentum in September, as the Bank of England’s first interest rate cut in more than three years and greater political certainty after July 4’s ...
Saudi Arabia’s inflation rate rises to 1.6 per cent in August
Saudi Arabia’s annual inflation rate inched up to 1.6 per cent in August, from 1.5 per cent in July, government data showed, driven by an increase in housing rents and food ...
Tech firms halve business travel in 2023 but Alphabet, Apple lag, study shows
Global tech giants halved their business flight emissions in 2023 compared to 2019, but companies like Apple (AAPL.O) and Google’s parent Alphabet (GOOGL.O) are falling behind, risking a return ...
UK companies concerned about tougher employment regulation
British businesses are worried that greater protections for employees planned by the newly elected Labour government will make it more risky to hire new staff, according to the Confederation of ...
Draghi’s industrial masterplan has decarbonisation at its core
By Simone Tagliapietra
A report on the future of European competitiveness, prepared by former Italian prime minister Mario Draghi and long awaited in Brussels, is finally out.
It is expected ...
UBS shifts focus away from corporate bonds as yields drop, risks increase
UBS Asset Management has been selling corporate bonds in its global portfolios during market rallies, a senior fund manager said, citing concerns that a slowing economy or the looming US ...
Adobe to launch generative ai video editing tool later this year
Adobe will unveil a new generative AI-powered video creation and editing tool in a limited release later this year, the software maker has said, as it looks to beef up ...
Etihad Airways eyes 2025 IPO
Abu Dhabi’s Etihad Airways plans to make its stock market debut no sooner than 2025, two people familiar with the matter said, in potentially the first IPO of a major ...
Visa aims for 10-fold rise in Pakistani use of digital payments
Visa (V.N) plans to increase the number of businesses accepting digital payments in Pakistan tenfold over the next three years, the payments giant’s general manager for Pakistan, North ...
Russia to spend over half a billion dollars to bolster internet censorship system
Russia’s digital development ministry plans to allocate nearly 60 billion roubles ($660 million) over the next five years to improve the system used to censor web traffic, a government proposal seen ...
Turkish businesses squeezed by inflation, credit crunch
It is hard for Dogan Duman to see how he can keep his garment factory in central Turkey running much longer, even after firing a third of his staff to ...
Panasonic readies new 4680 EV batteries for automakers
The energy unit of Japan’s Panasonic Holdings (6752.T) has finalised preparations for the mass production of its 4680 electric-vehicle batteries, the company said this week, as it seeks to start ...
Samsung Electronics plans global job cuts of up to 30 per cent in some divisions
Samsung Electronics, the world’s top maker of smartphones, TVs and memory chips, is cutting up to 30 per cent of its overseas staff at some divisions, three sources with direct ...