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'Challenging' year for Ikea, 10,000 layoffs in Russia
Swedish furniture giant Ikea posted a six percent rise in full-year sales on Thursday, in what it described as a "challenging" year due to inflation and scaling back in Russia.
Weak pound is major draw at London's Frieze art fair
As the global art world descends on London's Frieze fair this week, the current low value of the UK pound makes buying art in Britain particularly attractive for overseas collectors and dealers.
India's Infosys plans $1 bn buyback on strong profits
Indian outsourcing behemoth Infosys approved a $1 billion share buyback on Thursday after strong quarterly profits that reflected sustained demand for digital services.
France orders more strikers back to work as fuel shortages bite
The French government on Thursday ordered more striking workers back to a fuel depot in northern France after talks to end a three-week strike stalled, saying petrol shortages were taking too big a toll on the economy.
Stocks diverge before key US inflation data
Equities mostly rose in Europe but fell in Asia Thursday, before US inflation data that could determine the pace of Federal Reserve interest rate hikes.
Easyjet warns of another annual loss
British airline EasyJet on Thursday warned of a third annual loss in a row, as sector-wide disruption and a strong dollar offset a recovery from the pandemic.
La Liga win injunction to freeze 50 million euros of beIN assets
Spain's top football division, La Liga, has taken out a court injunction against the beIN Media Group to freeze 50 million euros ($48.5 million) of their assets after non-payment for television rights.
WWII munitions hinder Nord Stream pipeline probe
Investigations into the suspected sabotage of the Nord Stream gas pipelines linking Russia with Europe are "progressing well", despite World War II munitions on the seabed, Denmark said Thursday.
British PM faces fresh political woes after meeting with MPs
Embattled British Prime Minister Liz Truss faced fresh woes on Thursday after a prominent Conservative party insider said some of her own MPs were considering pushing for two of her former rivals to replace her.
Iraq MPs in new bid to elect president, end deadlock
Lawmakers in crisis-hit Iraq are set to meet Thursday for their fourth attempt this year to elect a new state president and break political gridlock that has sparked protests and deadly violence.
Finland hopes new nuclear reactor eases energy crunch
After over a decade of delays, the deafening sound of Finland's new Olkiluoto 3 nuclear reactor finally running its turbine at full power was welcomed with joy -- and relief.
Mideast petrolheads hope eSports takes them to the track
Virtual cars whizz by with engines roaring, as 26 drivers vie for the top spot at an online tournament in Jordan -- many dreaming one day of transitioning to real racers.
'Everything has collapsed': Russia's draft tanks small businesses
In his brand new co-working space in Chelyabinsk, a city in central Russia, entrepreneur Maxim Novikov is counting the empty seats.
Sudan schools crisis threatens grim future for children
It's the start of a new school term in Sudan, yet nine-year-old Zahra Hussein stays home helping with household chores, forced to drop out as her family's money grows ever tighter.
Asian markets drop as traders brace for key US inflation data
Equities fell in Asia and the dollar maintained its strength Thursday ahead of the release of crucial US inflation data that could determine the pace of Federal Reserve interest rate hikes.
US growth slowdown 'required' to beat inflation: Fed minutes
A slowdown of economic growth and the US job market will be "required" to bring down inflation, the Federal Reserve said in notes released Wednesday, adding that prices remain "unacceptably high."
Finance chiefs mull Ukraine aid, Russia oil price cap at IMF summit
Global finance chiefs were expected to discuss a proposed price cap on Russian oil and support for Ukraine on Wednesday as the conflict takes center stage during the IMF's annual meetings.
Andrew Bailey: Bank of England boss facing fresh storm
Andrew Bailey is no stranger to economic storms as head of the Bank of England, becoming governor just as Covid was taking hold in Britain.
Workers at 3rd Amazon site in New York hold unionization vote
Amazon workers at an upstate New York warehouse began voting Wednesday on whether to unionize in the latest labor battle following a surprise union win earlier this year at another Amazon site.
UK to cap renewable energy company revenues
Britain will introduce a cap on the revenues of companies that produce low-carbon electricity in an attempt to mitigate the impact of soaring energy prices on consumers.
Ukraine grain ships stuck in Istanbul traffic jam
A cargo ship traffic jam stretched as far as the eye could see off Istanbul, where a key deal to get Ukraine grain to market has translated into major hold-ups.
IMF warns against 'costly' tax cuts to fight inflation
Soaring food and energy prices are raising the risk of social unrest, but attempting to tame costs through tax cuts, subsidies and price controls would be too costly, the IMF said Wednesday.
Tear gas fired as Iranians rally over Mahsa Amini's death
Iranian security forces fired tear gas Wednesday at a lawyers' protest over Mahsa Amini's death, said a rights group, which also raised the death toll to at least 108 from the crackdown on the nearly month-long movement.
Pound, UK bond yields climb on Bank of England uncertainty
The pound rallied and UK government bond yields rose Wednesday, with the Bank of England accused of fuelling markets uncertainty.
Striking French refinery workers defy government threats
Striking French fuel refinery workers voted Wednesday to continue their stoppages and blockades, defying the government which began ordering some of them back to work in a bid to get supplies flowing.
Sterling swings as BoE confirms end of market support
The pound swung between gains and losses Wednesday after the Bank of England confirmed it will end its support for financial markets at the end of the week.
Sterling bounces on hopes for more Bank support, stocks rebound
The pound bounced Wednesday on speculation the Bank of England could continue to support troubled financial markets past a deadline set for the end of the week.
Cold Siberian air would help Putin this winter
Across Europe, governments are scrambling to prevent energy rationing and blackouts this winter. Whether they succeed will depend in part on something they have no control over: the weather.
Idled plants fuel German angst about de-industrialisation
The familiar plume of smoke no longer billows from one of the two chimneys at ArcelorMittal's massive steelworks in Hamburg's harbour.
Stocks dive, dollar rallies as dazed traders gird for inflation data
Asian stocks sank again Wednesday while the dollar held gains against the yen and sterling as the volatility that has characterised markets for most of the year showed no sign of letting up.
English winemakers toast summer heatwaves
Under a blue sky, seasonal workers ran their secateurs along long rows of grapevines, harvesting a variety of pinot noir grown during the summer heatwave.
US proposes redefining when gig workers are employees
United States labor officials proposed a rule change Tuesday that could make it easier for gig workers such as Uber drivers to be reclassified as employees entitled to benefits.
Supreme Court ponders the fate of pigs, high cost of bacon
A California law aimed at reducing animal suffering on pig farms led to some unusual exchanges Tuesday in the US Supreme Court.
BoE chief says '3 days left' on bond intervention
Bank of England chief Andrew Bailey said Tuesday bond investors have "three days left" until the British central bank phases out emergency bond-buying efforts.
Biden to 're-evaluate' Saudi ties after OPEC snub
President Joe Biden is to "re-evaluate" the US relationship with Riyadh, the White House said Tuesday, after a Saudi-led coalition of oil-producing nations sided with Russia to slash output.
BoE struggles to calm markets after latest intervention
The Bank of England struggled Tuesday to reassure investors after unveiling yet more measures to calm markets rocked by the British government's tax-cutting mini-budget, as the International Monetary Fund renewed warnings about their divergent policies.
EU energy chief praises Algeria 'partnership'
The European Union's energy commissioner hailed a "long-term strategic partnership" with Algeria Tuesday as the bloc turns to Africa's biggest gas exporter to fill a gap left by Russian supplies.
IMF cuts 2023 global growth, warns major economies to stall
Global growth is expected to slow further next year, the IMF said Tuesday, downgrading its forecasts as countries grapple with the fallout from Russia's invasion of Ukraine, spiraling cost-of-living and economic downturns.
Thunberg says 'mistake' for Germany to use coal over nuclear
Climate activist Greta Thunberg on Tuesday said it was a "mistake" for Germany to shut down existing nuclear power plants while ramping up coal usage to tackle an energy crisis.