BUSINESS

Toymaker Lego said on Wednesday it will invest more than $1 billion in its first factory in the United States, which will be carbon-neutral, to shorten supply chains and keep up with growing demand for its coloured plastic bricks in one of its biggest markets.

British supermarket group Sainsbury's, seeking an edge amid a worsening cost of living crisis, will for the first time include its biggest selling lines in a scheme that matches the prices of German-owned discounter Aldi.

EU signs gas deal with Egypt, Israel to end 'dependency' on Russia

Meta Platforms won an appeal against Britain blocking its acquisition of Giphy on a single procedural ground, but the country's Competition Appeal Tribunal (CAT) endorsed the regulator's finding that the deal could harm competition.

Britain's automobile sector had stalled last year on pandemic fallout including a semiconductor shortage.

French IT company Atos spooked investors on Tuesday with a plan to split its operations and sell assets as well as the departure of CEO Rodolphe Belmer, sending its shares plunging by more than 25%.

Britain's jobless rate rose for the first time since late 2020 and other measures of the country's hot labour market cooled, potentially easing inflation worries at the Bank of England which is due to raise rates again this week.

Monte dei Paschi di Siena has named veteran UniCredit executive Andrea Maffezzoni as its new chief financial officer as it prepares to present a new strategic plan next week, the state-controlled bank said on Tuesday.

Two influential proxy advisers have both recommended voting for the appointment of all Toshiba Corp director nominees including two from activist shareholders, despite objection to the move from within the board.

Federal Reserve Chair Jerome Powell used his first four years as the world's top central banker to reshape U.S.

Many in attendance spoke of a massive surge in demand as countries ramp up production, both to send munitions to Ukraine and to beef up their own arsenals.

The strike would come as summer holidays get underway in European countries and a recovery in air travel following the lifting of most Covid-19 travel restrictions.

The trillion-dollar retail investment express is losing steam, dampening the fortunes of British trading platforms that boomed during lockdowns on the back of a meme stocks frenzy.

Leading UK and U.S. pension investors managing more than $1 trillion have launched a campaign to stop companies using dual-class share structures that concentrate voting power in the hands of certain shareholders at the expense of others.

Britain's economy unexpectedly shrank in April, official figures showed on Monday, adding to fears of a sharp slowdown just three days before the Bank of England announces the scale of its latest interest rate response to the surge in inflation.

The global advertising industry is expected to grow 8.4% this year, despite ongoing geopolitical situations around the world and fears of a recession, a report on the sector said on Monday.

Quebec's plans to attract more French-speaking newcomers are unnerving some business owners who say they need immigrants from varied backgrounds to address a tight labor market in the Canadian province.

A dearth of IPOs, a plunge in stock prices and slowing global economic growth are clouding the outlook for revenue at global investment banks after pandemic spending by governments and central banks fueled a blockbuster 2021.

Big U.S. banks including JPMorgan Chase & Co and Citigroup appear set for some earnings boost from a pick-up in the battered credit-card business, but a possible recession would pull consumers back and bring losses on outstanding loans.

The Bank of England said on Friday it was satisfied lenders had taken steps to ensure they were no longer "too big to fail" in any future crisis, though it found shortcomings at three major banks.

Japan's government and central bank said on Friday they were concerned by recent sharp falls in the yen in a rare joint statement, the strongest warning to date that Tokyo could intervene to support the currency which has sunk to 20-year lows.

The International Monetary Fund expects to further cut its forecast for global economic growth in 2022 next month, an IMF spokesperson said on Thursday, following moves by the World Bank and Organization for Economic Co-operation and Development (OECD) to cut their own forecasts this week.

Britannia Global Markets will give up Category 2 membership of the London Metal Exchange (LME) from June 20 after the recent nickel debacle which led the exchange to suspend trading and cancel all nickel trades on March 8.

Intel Corp has frozen hiring in the division responsible for PC desktop and laptop chips, according to a memo reviewed by Reuters, as part of a series of cost-cutting measures.

Wizz Air said on Wednesday it was suffering significant costs from cancellations and "operational hiccups" at airports, especially in the United Kingdom, as the industry tackles a shortage of air traffic controllers and security staff.

Construction of new homes in Britain almost ground to a halt last month as builders feared the cost-of-living squeeze and rising interest rates would constrain demand, a closely watched survey showed on Wednesday.

The audio streaming service Spotify Technology SA will host its first investor day since going public in 2018 on Wednesday, hoping to stoke Wall Street's enthusiasm despite the slowing global economy.

Lululemon Athletica Inc and H&M Group are among backers of a $250 million fund aiming to speed up efforts to cut carbon emissions in the fashion industry's supply chain, non-profit group Apparel Impact Institute said on Wednesday.

Volkswagen's Spanish brand CUPRA will launch three electric models by 2025, including what would be its first fully electric vehicle to be made in Spain, CUPRA said on Tuesday.