By Emma-Victoria Farr, Shadia Nasralla and Lucy Raitano LONDON (Reuters) -Ithaca Energy made a lacklustre debut in London on Wednesday as the North Sea oil and gas producer defied volatile markets with Britain’s largest initial public offering of 2022. As Europe’s fifth biggest IPO of the year began trading, Ithaca’s shares fell as much as…
DHAKA,Bangladesh (AP) — The International Monetary Fund reached a preliminary agreement on Wednesday with Bangladesh to provide $4.5 billion to help the country weather disruptions caused by the war in Ukraine and manage risks from climate change. The agreement is subject to approval by the IMF’s executive board, which is expected within weeks. Bangladesh sought…
FRANKFURT, Germany (AP) — Adidas on Wednesday lowered its earnings forecast for the year to account for losses from ending its partnership with the rapper formerly known as Kanye West over his antisemitic remarks. The German shoe and sportswear maker cut its sales and profit outlook for the year as part of its third-quarter earnings…
(Reuters) – Michael Kors-owner Capri Holdings Ltd lowered its annual profit forecast on Wednesday, blaming a hit from a stronger dollar and a slow demand recovery in the key Chinese market due to persistent COVID-19 curbs. The company forecast fiscal 2023 revenue of $5.7 billion, compared with its prior estimate of about $5.85 billion. (Reporting…
ATHENS, Greece (AP) — Workers walked off the job in Greece and Belgium on Wednesday during nationwide strikes against increasing consumer prices, disrupting transportation, forcing flight cancellations and shutting down public services in the latest European protests over the rising cost of living. In Greece, where workers were holding a 24-hour general strike, thousands of…
Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday. The job cuts come just a week after widespread layoffs at Twitter under its new owner, billionaire Elon Musk. There have…
FRANKFURT (Reuters) – Inflation expectations among euro zone consumers continued to rise in September, even as economic growth and income forecasts declined markedly, a new European Central Bank survey showed on Wednesday. Inflation has been hitting new records month after month, raising fears that wages, still growing relatively slowly, will eventually follow, setting off a…
BERLIN (AP) — The German government on Wednesday blocked the sale of a chip factory to a Swedish subsidiary of a Chinese company, a decision that comes as Berlin grapples with its future approach to Beijing. The move by the Cabinet follows a recent compromise over a Chinese shipping firm’s investment in a German container…
By Simon Jessop and Kate Abnett SHARM EL-SHEIKH, Egypt (Reuters) – Finance took centre stage at the COP27 climate talks on Wednesday, with U.N. experts publishing a list of projects worth $120 billion that investors could back to help poorer countries cut emissions and adapt to the impacts of global warming. A $3 billion water…
TOKYO (AP) — Nissan’s profit fell 68% in the last quarter as a shortage of computer chips hindered the Japanese automaker’s ability to deliver vehicles to its customers. Nissan Motor Co. reported Wednesday that its profit was 17.4 billion yen ($119 million) in the July-September, down from 54 billion yen the same period a year…
