The crypto magnate has testified without the jury present so the judge can decide which parts of the testimony to allow. The case has been called one of the biggest…
Category: Business
Shares in Air France-KLM and British Airways-owner IAG drop despite record revenue
Investors are spooked by rising fuel costs despite a booming post-pandemic demand for travel. ADVERTISEMENT Air France-KLM reported an operating profit of €1.34 billion for the July to September period,…
‘A missile can come at any moment’: Ukrainian businesses defy uncertainty despite looming threats
Despite the ravages of war, businesses in Kramatorsk, a front-line city in Ukraine’s Donetsk region, are displaying considerable resilience. ADVERTISEMENT In a city where damaged buildings are everywhere, a destroyed…
Now or never: China’s Evergrande gets last chance to come up with new debt restructuring plan
Evergrande’s liquidation hearing initially scheduled for Monday was adjourned by a Hong Kong court as the property developer’s shares hit an all-time low. ADVERTISEMENT The Hong Kong High Court has…
HSBC announces $3 billion buyback despite missing profit expectations
Higher interest rates have boosted profits for Europe’s biggest bank, bringing their third-quarter pre-tax total to $7.7 billion ($6.26 billion after tax). ADVERTISEMENT This is up from last year’s gross…
McDonald’s revenue jumps 14% as Big Macs lure diners despite higher prices
McDonald’s reported better-than-expected sales in the third quarter as popular promotions brought in customers despite higher US prices. ADVERTISEMENT Global same-store sales — or sales at locations open at least…
Energy crisis: Who has the priciest electricity and gas in Europe?
The pre-tax prices of electricity and natural gas soared after Russia’s full-scale invasion of Ukraine, but they’re now on the decline. Although slightly higher than the second half of 2022,…
Russian oligarch Kuzmichev detained in France over money laundering and sanctions probe
Considered by the EU to be one of Russia’s most influential people, Alexey Kuzmichev has been detained by French police for questioning. ADVERTISEMENT Russian tycoon Alexey Kuzmichev has been detained…
The controversies of company activism: How are businesses responding to the Israel Hamas war?
As the death toll from Israel’s offensive in Gaza rises, corporate communications are in crisis mode. ADVERTISEMENT On 7 October, the armed Palestinian group Hamas – designated by the EU…
WeWork files for bankruptcy: reports
US office-sharing firm WeWork is reportedly filing for bankruptcy as early as next week, after being buffeted by a chain of financial woes. ADVERTISEMENT WeWork, offering co-working spaces both in…
