BUSINESS

Italian energy giant Eni said Friday its net profit fell 67 percent to 1.91 billion euros in the third quarter of 2023, hit by falling oil and gas prices.

Ford on Thursday said the need to retore manufacturing operations outweighed the additional costs to sweeten a labor contract to end a strike that has cost it some $1.3 billion.

US chip giant Intel on Thursday said it made more money than expected in the recently ended quarter as it continued to invest in a "geographically balanced" supply chain.

Swedish home appliances maker Electrolux said Thursday it plans to cut some 3,000 jobs as it reported lower sales in the third quarter.

European Central Bank policymakers are widely expected to leave interest rates unchanged when they meet in Athens on Thursday, as their previous policy moves seemed to be biting.

Europe's main stock markets slid in subdued trade Wednesday, but Asia rallied after China unveiled plans for $137 billion in extra debt to boost infrastructure spending.

Asian markets recovered ground on Tuesday with traders weighed down by unpredictability over the ongoing crisis in the Middle East and key earnings and economic data releases expected later in the week.

Economic powerhouse Taiwanese companies based in China may be forced to relocate if they feel "unjustly pressured," the island's vice president warned Tuesday after Chinese authorities launched a probe into tech giant Foxconn.

Eurozone business activity slumped at a faster pace in October, resulting in job losses, a closely watched Purchasing Managers' Index (PMI) survey put out by S&P Global showed Tuesday.

For the first time in over a year, European Central Bank policymakers are expected to decide against raising interest rates again when they gather in Athens on Thursday.

Stock markets slid on Monday, extending last week's sell-off Monday on fears of a regional conflict in the Middle East and worries that US interest rates will remain elevated for longer than initially thought.

Taiwan defended tech giant Foxconn on Monday after China launched an investigation into several of the firm's sites, saying that Taiwanese businesses should not be subjected to "political interference".

The Kenyan shilling sank to a new all-time low of 150 to the dollar on Monday, adding to the woes of people already battered by high inflation and a raft of new taxes.

US energy giant Chevron will buy its rival Hess for $53 billion in an all-stock deal, the companies announced in a joint statement on Monday.

New York's attorney general on Thursday filed a lawsuit accusing cryptocurrency firms Gemini and Genesis with fraud that wound up costing investors more than a billion dollars.

Tesla's results for the third quarter missed analyst estimates on Wednesday, as the Elon Musk-run company was hit by higher costs and the fallout from price discounts.

Chinese property giant Country Garden denied Thursday its founder and chairwoman had fled the country, as the debt-saddled builder flirts with a default that could send shockwaves through the industry.

Amazon on Wednesday said it hopes to expand drone delivery into Britain and Italy by late next year, as it unveiled new warehouse robots and tech in its race to get shoppers what they want quickly.

Finnish telecom giant Nokia said Thursday it would cut up to 14,000 job as profits fell on weakening demand for its 5G equipment in North America.

China's economy grew more than expected in the third quarter, data showed Wednesday, but the reading was still below target and officials continue to face calls for more stimulus while struggling to contain an unprecedented property crisis.

Asian markets mostly fell and oil prices rallied Wednesday on fears that the Israel-Hamas conflict could spill over into a regional war after a blast at a Gaza hospital dealt a blow to President Joe Biden's diplomatic drive.

Taiwanese tech giant Foxconn and US hardware leader Nvidia said Wednesday they would team up to create "AI factories", powerful data processing centres that would drive the manufacturing of next-generation products such as electric cars.

Qatar has agreed to supply British firm Shell with natural gas for 27 years, the Gulf emirate's state-owned energy company announced on Wednesday.

Auto giant Ford's executive chairman on Monday urged workers to end their month-long strike, warning a prolonged stoppage could have a major economic impact.

Sales of smartphones continued to shrink globally in the recently-ended quarter as consumers watched spending, market tracker Counterpoint reported on Monday.

Apple chief Tim Cook made a surprise visit to China this week, greeting gamers in the southwestern city of Chengdu as his company faces slumping phone sales in its biggest market.

Rolls-Royce, the British manufacturer of aircraft engines, said Tuesday it plans to axe up to 2,500 jobs worldwide, or about six percent of its staff, to further slash costs.

US pharmacy chain Rite Aid filed for bankruptcy Sunday, the company said, after suffering declining sales and legal threats over its alleged involvement in the opioid crisis.

Europe's main stock markets and oil prices steadied Monday after last week's volatility at the start of the Israel-Hamas conflict.