Business

London’s FTSE 100 hits fresh record high as telecoms surge

UK's FTSE 100 rose to a record high on Tuesday as telecom stocks gained after Liberty Global bought a stake in Vodafone, while investors braced for U.S. inflation data due…

Read More Here

Coca-Cola sees annual profit above estimates on resilient demand, price hikes

Coca-Cola Co on Tuesday forecast 2023 profit above analysts' estimates, betting on resilient demand for its sodas despite multiple price hikes to tackle rising costs. Demand for the company's sodas has…

Read More Here

Ford to cut one in nine jobs in Europe in electric revamp

Ford plans to cut one in nine jobs in product development and administration across Europe as part of a global drive to cut costs and be competitive in the electric…

Read More Here

Cryptoverse: Is bitcoin out of the woods?

(Reuters) - Have bitcoin and ether finally turned a corner? It's looking that way, if crypto options traders are anything to go by. The volume of bitcoin options traded on Deribit, one…

Read More Here

ECB rejects banking sector call for lower capital to boost lending

The European Central Bank (ECB) on Friday rejected calls from Europe's banks to ease capital rules to boost lending and put them on an equal footing with U.S. rivals. The…

Read More Here

Fashion retailer H&M’s profit tumbles as costs bite

Sweden's H&M reported on Friday a much larger than expected drop in September-November profit, hit by weak consumer confidence and soaring costs that it did not fully pass on to…

Read More Here

Britain considers allowing foreign students to work longer hours -The Times

The British government is looking at plans to allow foreign students to work longer hours to boost the economy by plugging vacancies, The Times reported on Thursday. Ministers are looking…

Read More Here

Italy can boost African gas imports, Eni CEO says

Italy can significantly increase its gas imports from Africa and transfer some of the supply to northern Europe if it boosts its infrastructure in the next few years, the CEO…

Read More Here

Euro zone business activity back to growth in January

Euro zone business activity made a surprise return to modest growth in January, adding to signs the downturn in the bloc may not be as deep as feared and that…

Read More Here

Musk to take stand for third day in trial over Tesla funding tweet

Elon Musk, Tesla Inc's chief executive, will take the stand on Tuesday morning in San Francisco a day after telling a jury that he had financial support in 2018 to…

Read More Here

After a long, cold year, investors are flocking back to Europe

A European recession looked like a no-brainer just a few weeks ago, but that picture has changed dramatically, and investors have started pouring money into the region's stocks, currency and…

Read More Here

Primark cautious on 2023 outlook after ‘very strong’ Christmas

Clothing retailer Primark reported better-than-expected trading over the Christmas quarter, parent Associated British Foods said on Tuesday, but cautioned economic headwinds may dent consumer spending in 2023. The group said…

Read More Here

Unshell directive: MEPs adopt position on legislation to clamp down on shell companies

MEPs have proposed to widen the scope and toughen sanctions of proposed legislation aimed at clamping down on shell companies used for tax purposes. MEPs adopted their opinion on Tuesday…

Read More Here

Apco Ltd partners with Stromkind GmbH

Automation and security provider Apco Ltd has signed a partnership agreement with autonomous systems developer Stromkind GmbH to bring the latest drone technology to Malta. The partnership will allow Apco…

Read More Here

Britain could narrow scope of banker accountability rules, says minister

Britain will consider narrowing the scope of rules that were introduced after the 2008 financial crisis to hold bankers accountable for risky decisions, financial services minister Andrew Griffith said on…

Read More Here

Maltese Government and business partners in joint collaboration promoting energy efficiency

The Ministry for the Environment, Energy and Enterprise, together with Malta’s business partners, launched an information campaign promoting energy efficiency for businesses in Malta and Gozo. The campaign, ‘Be Efficient.…

Read More Here

Tech firms lead companies with most December job cuts -report

American technology firms dominated the number of announced job cuts in December, as some employers downsized workforces to brace for the prospect of difficult economic times looming ahead. According to…

Read More Here

Pfizer explores options for some rare disease, cancer drugs

Pfizer Inc is exploring options for some early-stage treatments for rare diseases and cancer in a bid to focus on "high-impact" medicines and vaccines, the company said on Thursday. The U.S.…

Read More Here

Euro zone inflation falls sharply in December but offers ECB little respite

Euro zone inflation tumbled by more than expected last month but underlying price pressures rose, making it likely the European Central Bank will continue raising interest rates for months to come.…

Read More Here

WATCH: Sony’s ‘Gran Turismo’ flags new entertainment strategy

When Sony Corp Group teases “Gran Turismo,” its long-awaited adrenaline-fueled film adaptation of Sony PlayStation’s hit car-racing franchise at the CES 2023 technology trade show this week, it will really…

Read More Here

France to permanently lower threshold for scrutiny of foreign investments – Le Maire

France will permanently lower the equity threshold for scrutinizing foreign investments from outside the European Union to 10% from 25%, Finance Minister Bruno Le Maire said on Thursday. Le Maire…

Read More Here

British shoppers defy cost-of-living crisis at Christmas

Britons spent more than expected over Christmas, Next, one of the country's biggest clothing retailers, said on Thursday in a sign that resilient shoppers helped the sector dodge a cost-of-living…

Read More Here

UK manufacturing ends 2022 on a low as orders shrink

British manufacturers reported one of their sharpest falls in activity since the 2008-09 recession last month, as new orders fell sharply and companies cut jobs, a monthly survey showed on…

Read More Here

03

Jan

Tesla makes China boss highest-profile executive after Musk

Tesla Inc's China chief Tom Zhu has been promoted to take direct oversight of the electric carmaker’s U.S. assembly plants as well as sales operations in North America and Europe,…

Read More Here

World Bank seeks more funds to address climate change, other crises

The World Bank is seeking to vastly expand its lending capacity to address climate change and other global crises and will negotiate with shareholders ahead of April meetings on proposals that include a…

Read More Here

Stocks and commodities jump as China drops quarantine rule

tock markets gained on Tuesday after China said it would scrap its COVID-19 quarantine rule for inbound travellers - a major step in reopening its borders. MSCI's broadest index of…

Read More Here

There should not be any ‘crash’ in French and European economy – ECB’s Villeroy

The French and broader European economy should not suffer any "crash" or "hard landing", European Central Bank (ECB) member and Bank of France head Francois Villeroy de Galhau told BFM…

Read More Here

ESG funds see first drop in a decade after bruising year

Investors pulled more money from funds marketed as "sustainable" than they added for the first time in more than a decade in 2022, hit by fallout from the Ukraine war,…

Read More Here

Europe’s car repairers call for competition rules rewrite

Europe's car repair and spare parts industry is calling for a rewrite of EU competition rules, arguing they allow carmakers and franchise dealers to disadvantage independent operators. The European Commission has recommended extending…

Read More Here

Central Bank revises Malta’s 2023 expected growth rate downwards

According to the Central Bank of Malta latest forecasts, Malta's gross domestic product (GDP) is projected to grow by 6.8% this year, and by 3.7% in 2023, followed by growth…

Read More Here

ECB likely to raise rates by 50 bps next week

The European Central Bank is likely to raise interest rates by 50 basis points (bps) next week on the way to potentially moving beyond a deposit rate of 3% amid ongoing…

Read More Here

Euro zone investor morale rises to highest since June

Investor morale in the euro zone rose this month to its highest level since June on hopes that mild winter weather and sufficient gas in storage may lessen the chances of a…

Read More Here

Russian McDonald’s successor solves franchise problem as more outlets join

The successor to McDonald's in Russia is set to add nine more restaurants to its portfolio next month, as a former franchisee of the global hamburger chain agreed to join…

Read More Here

European retailers downbeat despite Black Friday boost

Europeans snapped up smartphones, Christmas decorations, sweaters and jewellery during a surge in shopping over the Black Friday weekend, though prospects for the festive season remained gloomy, retailers said. A…

Read More Here

Blow for EU crackdown on tax deals as Fiat wins appeal

Fiat Chrysler on Tuesday won its fight against an EU order to pay 30 million euros ($30 million) in back taxes to Luxembourg, dealing a major setback to EU antitrust chief Margrethe…

Read More Here

UK watchdog says regulating pension fund consultants would contain risks better

Regulating consultants who advise pension funds would ensure greater focus on managing risks that can emerge from the sector, such as the recent difficulties with liability-driven investment (LDI) funds, the…

Read More Here

Ryanair hails ‘very strong’ recovery with record summer profit

Ryanair on Monday posted its largest ever after-tax profit for its key summer season and said it expected very strong passenger and fare growth for years to come as customers…

Read More Here

COP26 a year later: Where do last year’s climate pledges stand?

(Reuters) - A year ago at the U.N. climate talks in Glasgow, Scotland, countries, banks and business leaders announced a slew of climate plans and pledges. Here is an update…

Read More Here

Pfizer boosts COVID vaccine sales forecast by $2 billion to $34 billion

Pfizer Inc on Tuesday raised its forecast for annual sales of its COVID-19 vaccine by $2 billion to $34 billion on demand for Omicron-targeted boosters, helping allay some investor worries…

Read More Here

Explainer: Deciphering the EU Digital Markets Act as it enters into force today

Today, the EU's Digital Markets Act, or simply, DMA, enters into force, seeking to end unfair practices by companies that act as gatekeepers in the online platform economy. It was…

Read More Here

Euro area annual inflation up to 10.7%

Euro area annual inflation is expected to be 10.7% in October 2022, up from 9.9% in September according to aflash estimate from Eurostat, the statistical office of the European Union.…

Read More Here

Cadbury-maker to invest $600 mln on sustainable cocoa sourcing

Cadbury chocolate-maker Mondelez International doubled down on sustainable cocoa sourcing on Wednesday, pledging to spend an additional $600 million by 2030 on efforts to combat child labour, farmer poverty and…

Read More Here

Business groups say bans on Russian aluminium will decimate European industry

Five European industry associations said on Monday they had urged European authorities to prevent sanctions, tariffs or boycotts against Russian aluminium that they said could put thousands of companies out…

Read More Here

Inflation drives global firms eastward in Europe in search of cost savings

Central European companies that provide remote, lower-cost business services for multinationals are ramping up their expansion plans as high inflation drives global firms to push more work to the region…

Read More Here

Decoupling from China not an option for EU firms – Dombrovskis

Decoupling from China is not an option for companies in the European Union, said EU trade commissioner Valdis Dombrovskis according to prepared remarks of a speech in Berlin on Tuesday.…

Read More Here

Nestle revamps coffee sustainability plan as climate challenges mount

Food giant Nestle pledged on Tuesday to spend over 1 billion Swiss francs ($1.01 billion) by 2030 on efforts to source coffee sustainably, more than double its previous pledge, as…

Read More Here

Motherwell Bridge wins crane assembly, staffing<br>contracts at major container terminals

Motherwell Bridge wins crane assembly, staffing
contracts at major container terminals

Motherwell Bridge Industries, the Malta-based engineering company, has won contracts for crane assembly and specialist team deployment at major container terminals for Finnish lifting specialist Konecranes in Scotland, Germany, Belgium,…

Read More Here

Gas crisis lands LNG cargo market in hands of energy giants

Sky-rocketing LNG cargo prices have squeezed out dozens of smaller traders, concentrating the business in the hands of a handful of international energy majors and top global trading houses. This…

Read More Here

PepsiCo ends Pepsi, 7UP production in Russia months after promising halt over Ukraine

PepsiCo Inc has stopped making Pepsi, 7UP and Mountain Dew in Russia nearly six months after the U.S. company said it would suspend sales and production after Moscow sent tens of…

Read More Here

Investors mixed as Porsche seeks price tag of up to $75 billion

Volkswagen shares hovered around breakeven on Monday, reflecting a mixed response from investors to the automaker's listing plans for sports car brand Porsche AG in what could be Europe's third…

Read More Here

Global economy may avoid recession as inflation risks ease – J.P. Morgan

The global economy could avert a recession as data points to a potential soft landing, J.P. Morgan analysts said, while adding that the Federal Reserve might have "over-reacted" with the…

Read More Here

Curtains drawing on runaway rise in global house prices, study finds

A runaway surge in global house prices is drawing to a close as interest rates rise along with the cost of living, according to Reuters polls of housing analysts, who…

Read More Here

Eni to invest 4.5 billion euros to bring new gas supplies

Italian energy group Eni plans to invest around 4.5 billion euros ($4.47 billion) in upstream activities each year from now to 2025 focusing on several countries, its deputy chief operating…

Read More Here

Credit Suisse expands in Qatar, launches tech hub

Credit Suisse will expand in Qatar via a partnership with the Gulf country's Investment Promotion Agency (IPA Qatar), the Swiss bank said on Monday. It will create up to 100…

Read More Here

Malta registers higher deficit, debt levels in first seven months of 2022

By the end of July 2022, the Government’s Consolidated Fund reported a deficit of €514.9 million. In parallel, debt levelshave gone up to €8.5 billion, an increase of €709.4 million…

Read More Here

Euro zone business activity contracts in August, outlook bleak

Business activity across the euro zone contracted for a second straight month in August as the cost of living crisis forced consumers to curtail spending while supply constraints continued to hurt…

Read More Here

Banks, financial services companies tightening controls on Whatsapp exchanges with clients

Asset managers are tightening controls on personal communication tools such as WhatsApp as they join banks in trying to ensure employees play by the rules when they do business with…

Read More Here