Business

Adidas posts first loss in 30 years and warns on US

German sportswear giant Adidas posted its first annual loss in more than 30 years on Wednesday and warned sales in North America would fall again as sportswear retailers in the…

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U.S. airlines warn of more Boeing delivery delays due to safety crisis

U.S. carriers warned on Tuesday that their plans to increase capacity were in doubt due to jet delivery delays from Boeing, as the hit to the airline industry from the…

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Lufthansa Technik reports record earnings

Lufthansa Technik has significantly increased both revenue and earnings in the 2023 financial year despite a persistently challenging environment. Revenue grew by around one billion to 6.547 billion euros (previous year: 5.550 billion euros, up 18%), returning to…

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Critical Thinking At Work

Employers increasingly view critical thinking and problem-solving skills as assets in their employees, as these skills are what give businesses a competitive edge and establish them within a global context…

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UPDATED: Facebook, Instagram back up after global outage

Updated 1930 Meta-owned Facebook and Instagram were back up on Tuesday after a more than two-hour outage that was caused by a technical issue and impacted hundreds of thousands of…

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Google rolls out changes for users, apps developers as EU tech rules loom

Alphabet's Google on Tuesday outlined changes to search results and new tools for apps developers to promote their products on third-party apps and rival app stores as part of efforts to comply with landmark EU tech rules seeking to curb Big Tech's power. Designated as…

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EU mulls easing merger rules for telecoms, Big Tech to help pay network costs

EU regulators may ease their rules against mobile telecoms mergers and broaden telecoms rules to get Big Tech and others to help fund the rollout of 5G, according to a…

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Bullish investors drop recession calls for first time since April 2022

Global investors are at their most bullish in two years this month and no longer expect a recession, as confidence grows in the resilience of the underlying economy, a Bank…

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Gold pressured by firm dollar, higher yields as traders seek Fed clues

Gold prices were subdued, hurt by a stronger dollar and higher Treasury yields, while investors looked ahead to next week's U.S. inflation reading for clues on when the Federal Reserve…

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Meta to start labeling AI-generated images from companies like OpenAI, Google

Meta Platforms will begin detecting and labeling images generated by other companies' artificial intelligence services in the coming months, using a set of invisible markers built into the files, its…

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CEOs leave Davos to game out 2024 geopolitical scenarios

Business leaders in Davos say they are increasingly turning to scenario planning to safeguard supply chains and lessen the potential hit from unexpected geopolitical crises. Many CEOs and executives told…

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“Furthering MDB’s Outreach Will Be My Priority” – Leo Brincat

Leo Brincat, Chairman of the Malta Development Bank Leo Brincat, who assumed the role of the Malta Development Bank's new Chairman, demonstrated a commitment to prioritising outreach as his top…

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Lufthansa’s ITA Airways deal may reduce competition, EU regulators warn

EU antitrust regulators on Tuesday opened an in-depth investigation into Lufthansa's bid for a minority stake in Italian state-owned ITA Airways, saying the deal may reduce competition in flights to and…

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Bitcoin falls to $40,000, lowest level since bitcoin ETF launch

Bitcoin fell to a seven-week low on Monday, hovering below $40,000 for the first time since the launch of 11 spot bitcoin exchange-traded funds on Jan. 11. The world's largest…

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300 major financial institutions plan major disclosures on environmental impact

More than 300 companies and financial institutions plan to report on the impacts they have on the natural world as part of efforts to stem the global collapse of biodiversity,…

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Red Sea attacks raise costs for coffee roasters

Attacks by Houthi militants in Yemen on ships in the Red Sea have led to soaring costs for European coffee roasters, though these are unlikely to be passed onto consumers…

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Wall St poised for dull start to 2024

U.S. stock index futures slipped on Tuesday, setting a somber tone for the first trading day of 2024, as Apple dipped on a broker downgrade and investors pondered if last…

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ESG funds suffer weaker demand despite help from tech-sector performance

Sustainable funds faced a sharp slowdown in demand globally in 2023 amid political controversy and concerns about "greenwashing," even as many outperformed the broader market when the recovery of technology-related…

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Red Sea attacks force rerouting of vessels, disrupting supply chains

Attacks by Yemen's Iran-aligned Houthi militants on ships in the Red Sea are disrupting maritime trade and prompting U.S. efforts to build a coalition to deal with the threat, as freight firms reroute around the Cape…

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BlackRock to invest up to $400 mln in Dubai decarbonisation firm Positive Zero

BlackRock has agreed to invest up to $400 million in Dubai-based decarbonisation company Positive Zero through a diversified infrastructure fund, Positive Zero said in a statement on Monday.The investment will…

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The EU’s ETS Directive: Logistics Sector Expecting Stronger Lobbying At EU Level

“We will have to wait till the 1st January 2024 to start understanding the real effects that the EU’s European Emissions Trading System Directive is going to have on our…

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Express Trailers Signs MoU With University of Malta

Company To Contribute Expertise To New MSc Course in Logistics and Supply Chain Management. In what turns out to be an uncanny coincidence, Express Trailers has found a link, albeit…

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One third of Britons to cut back on Christmas spending -PwC

Almost one in three British adults expect to spend less on Christmas this year, with most blaming the rising cost of living, according to survey data published by PwC on…

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AI and PR: Conflict or opportunity?

James Vella Clark is Media and Communications Manager at Corporate Identities and has worked in the sector for the past 24 years. Artificial Intelligence has rapidly permeated nearly every industry,…

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Three-quarters of firms globally are not ready for new ESG rules, KPMG finds

Three-quarters of companies globally are not ready to have their environmental, social and governance (ESG) data audited externally months before new regulations kick in, according to a new report from…

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GO’s €100 million True Fibre Network To Reach 100% of the Island By End 2024

Malta well on path to being amongst the first EU state to reach nationwide coverage by end 2024. GO has announced that 75% of households and 80% of businesses can…

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Euro zone August downturn deeper than was thought -PMIs

The decline in euro zone business activity accelerated faster than initially thought last month as the bloc's dominant services industry fell into contraction, according to a survey which suggests the bloc…

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Malta: Mergers and acquisitions expected to bounce back in 2024

The mergers and acquisitions in Malta is experiencing a temporary slump, attributed to several factors including high interest rates, stringent regulatory environments, and increased foreign direct investment scrutiny. Dr Simon…

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United States to investigate Shein’s labour policies

Republican attorneys general from 16 U.S. states asked the Securities and Exchange Commission to audit China-founded fast-fashion retailer Shein's supply chain for the use of forced labour ahead of its…

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Mastercard, Binance to end crypto card partnership

Mastercard and crypto exchange Binance will end their four crypto card programmes in Argentina, Brazil, Colombia and Bahrain as of Sept. 22, a spokesperson for Mastercard said via email on…

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Euro zone services slide deepens economic gloom-PMI

The downturn in euro zone business activity has deepened far more than thought this month in a broad-based fall across the region, particularly in Germany, Europe's largest economy, a survey…

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Industrial output jump gives euro zone growth small boost

The euro zone's vast industrial sector rebounded in June, giving overall growth a small boost to end an otherwise weak quarter on a positive note, data from Eurostat showed on…

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Microsoft Adds Partners To New AI Cloud Partner Program

A global survey conducted recently by Microsoft amongst 3,000 managers, executives and scholars confirmed how 57% of companies are piloting or deploying AI, 59% have an AI strategy and 70%…

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Royal Caribbean raises annual profit forecast on resilient demand, shares surge

Royal Caribbean Group raised its full-year profit forecast on Thursday, betting on higher ticket prices, onboard spending and resilient demand as travelers seek out cruise vacations this summer, sending its…

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Coffee, candy makers question EU deforestation law

Chocolate and coffee makers including Italy's Lavazza and Cadbury-maker Mondelez are concerned about the "practicalities" of a new European Union law aimed at stopping deforestation. The pushback comes despite voluntary,…

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GO Announces Corporate Sponsorship Agreement With Chamber of Engineers

A corporate sponsorship agreement has just been signed between GO and the Chamber of Engineers which will see both sides collaborating more closely in the field of engineering and the…

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Euro zone business downturn deepens far more than thought in July -PMI

A downturn in euro zone business activity deepened much more than expected in July as demand in the bloc's dominant services industry declined while factory output fell at the fastest pace…

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Vivian Appoints Zampa Debattista As Financial Advisors

Vivian, a leading local pharmaceutical importer and distributor, announced the appointment of Zampa Debattista, a growing firm of accountants, auditors, and tax advisors, as its new financial advisors, a strategic…

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MICROSOFT Appoints New Country Manager for Malta

Microsoft has appointed Yanna Andronopoulou as its new Managing Director for Malta, Greece and Cyprus, effective as from the 3rd of July 2023, the start of the company’s FY2024. …

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Making the four-day week work

Two workers glide between a computer screen and a stainless steel vat making face cream, a scientist in a white coat mixes a formula and a colleague sticks labels on…

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STMicroelectronics, GlobalFoundries win EU approval for French chip factory

Chipmakers STMicroelectronics and GlobalFoundries secured EU approval on Friday to build a chip factory with French state aid in France.The companies announced their plan in July last year, with the new facility…

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High inflation still top concern for global economy, say economists

Persistently high inflation remains the biggest economic concern this year even as most central banks are at or near the end-game for rate rises, according to Reuters polls of economists…

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Stop insuring carbon projects ‘immediately’, NGOs tell CEOs

A group of climate activists has called on 30 insurance company CEOs to "immediately" stop underwriting new fossil fuel projects in the wake of a stark climate warning from U.N.…

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EU agrees on retaliation to counter economic coercion

The European Union has agreed to allow retaliation against countries that put undue economic pressure on EU members to change their policies, such as the trade restrictions the bloc says…

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Mercedes-Benz site searched over suspected corruption – newspaper

German prosecutors are investigating two Mercedes-Benz employees for suspected corruption and conducted searches late last week at the carmaker's factory in Sindelfingen as part of their investigation, the Bild newspaper…

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EU antitrust regulators raid Red Bull premises

EU antitrust regulators have raided a company active in the energy drinks sector in several EU countries on suspicion of taking part in a cartel and also abusing its dominance,…

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EU regulators to investigate tax deals between EU countries and multinationals

EU regulators are likely to open investigations into tax deals between EU countries and multinationals after reviewing their arrangements in the previous decade, the bloc's competition chief warned on Monday.…

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PTL integrates Apcopay plugin for instant payments in Microsoft Dynamics Business Central

PTL, the technology solutions provider for businesses, has launched a plugin for its Microsoft Dynamics 365 Business Central customers that enables credit card payment acceptance through invoices and statements. Designed…

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Facebook’s Meta to cut 10,000 jobs in second round of layoffs

Facebook-parent Meta Platforms said on Tuesday it would cut 10,000 jobs, the first Big Tech company to announce a second round of mass layoffs as the industry braces for a…

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Dust settles on post SVB bank share rout, contagion fears linger

The health of the global banking sector as interest rates rise remained in the spotlight on Tuesday in the wake of the collapse of Silicon Valley Bank (SVB). Markets rebounded…

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Volkswagen to invest $193 billion over 5 years to hit EV target

Volkswagen plans to invest 180 billion euros ($192.76 billion) over the next five years in areas including battery production and its North American operations, it said on Tuesday, with spending…

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Russia begins diesel exports to Saudi Arabia – Refinitiv data

Russia began diesel exports to Saudi Arabia in February as it seeks to contend with an EU embargo on Russian supplies, traders said and Refinitiv data shows. A full EU…

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ECB survey sees moderating inflation, rising wage expectations

Inflation expectations among euro zone consumers dropped in January but expectations for wage growth continued to rise, adding to fears wage growth will slow efforts to control prices, a European…

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Investors pull around $6 billion out of Binance’s stablecoin

Binance's stablecoin, Binance USD, has seen around $6 billion of outflows following a U.S. regulatory crackdown on the company that issues the token, according to market tracker CoinGecko. Paxos Trust…

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EU antitrust regulators scrap investigation into Coca-Cola, bottlers

EU antitrust regulators on Tuesday scrapped an investigation into potential anti-competitive practices by The Coca-Cola Co and its bottlers, Coca-Cola Europacific Partners and Coca-Cola Hellenic, citing insufficient ground for the…

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Visa, Mastercard pause crypto push in wake of industry meltdown – sources

U.S. payment giants Visa and Mastercard are slamming the brakes on plans to forge new partnerships with crypto firms after a string of high-profile collapses shook faith in the industry,…

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HSBC shares slide as it fails to raise key target despite profit surge

HSBC's profit surged 92% as rising interest rates swelled net interest income, but its shares fell 2% as it failed to raise a key performance target even as Europe's largest…

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