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Canada At A Crossroads: Leadership Transition As Trudeau To Resign 01/07/2025

UK Government Cracks Down On Deepfake Technology With New Criminal Offenses To Protect Women And Girls 01/07/2025

U.S. Federal Reserve Shifts Focus To Stabilization Amid Economic Uncertainty 01/08/2025

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Business & Finance

BASF reports losses due to energy crisis

According to German news channel n-tv, due to rising energy costs and write-offs on its shares in the oil and gas business of Wintershall Dea, German chemical company BASF recorded losses of €1.4 billion last year. "BASF suffered significant losses in 2017 as a result of multibillion write-downs on...

Train Contract Worth 3 Billion Euro Signed By Siemens With India

Siemens announced on Monday that it has signed a 3 billion euro ($3.25 billion) contract to supply and service freight trains in India, the largest locomotive deal in the company's history. Siemens will deliver 1,200 electric locomotives and provide service for 35 years under the...

Microsoft faces a warning from EU antitrust watchdog

According to sources, Microsoft's offer to pay $69 billion to acquire Activision Blizzard, maker of the Call of Duty video game, is likely to result in a warning from EU antitrust authorities. This can make it harder to close the deal. The sources note that the European Commission is putting...

Marks & Spencer to open 20 stores in UK

According to the company statement, UK retailer Marks & Spencer will open 20 large stores in the UK between 2023 and 2024 as part of an investment plan worth over £500 million, generating 3,400 jobs. "M&S today revealed plans to invest roughly £480 million in expanding its stores across the...

While Goldman Sachs Reduces Its Workforce, Major US Banks Continue To Hire

JPMorgan Chase & Co and Bank of America Corp persisted to hire as the economy slowed, despite the fact that the ranks of the five largest U.S. lenders had grown by 100,000 since the start of 2020. Despite slowing economic growth, the chief financial officers of the two largest US banks...

India Claims Pernod Ricard Violated Delhi City Regulations In Order To Increase Its Market Share

According to India's financial crimes agency, Pernod Ricard had violated the liquor policy of the country's capital city by financially supporting retailers in exchange for stocking more of the French company's brands and increasing its market share. In court documents filed...

Lawyers of bankrupt FTX find $5bn for compensations

Attorneys for the defunct cryptocurrency exchange FTX claim to have found $5 billion worth of the company's liquid assets, including cash, cryptocurrencies, and investment products, allowing for the use of the proceeds to compensate the affected customers. FTX filed for bankruptcy in November 2022....

Credit Suisse to cut bonus pool for 2022

According Bloomberg News, Credit Suisse is pondering reducing its incentive pool for 2022 by 50%. Thus, despite numerous scandals and significant losses, the Swiss bank is still working to turn around its failing operations. The bank did not respond. At 11.01 GMT, the bank's shares were trading up...

Ryanair closes its base at Brussels airport

According to local union ACV Puls and Belgian news outlet Belga, Ryanair is closing its base at Brussels Airport. 59 employees may be in danger of losing their jobs, the newspaper reports. The Irish low-cost carrier uses Brussels Airport for two of its planes. South of Brussels, at Charleroi...

Business jet industry grows despite rising inflation

The private aviation market, which saw a rise in demand during the COVID restrictions of 2020–2021, witnessed growth in 2022, when the majority of the restrictions were repealed and mass passenger travel by conventional airlines resumed. According to speciality company WingX, reported by the...