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Indrabati Lahiri

Business

English council claims Dubai businessman misused €175m investment

Thurrock Council in England said it may be forced to raise taxes and cut down on council services for years in order to recover its finances

Business

AstraZeneca leads in valuation as it bets on cancer drugs portfolio

The company has tied up with Eccogene, a Chinese biotech firm, for a new experimental weight loss drug. The weight loss market is currently dominated by Eli Lilly and Novo Nordisk.

Economy

Eurozone growth unchanged but Germany's industrial sector still weak

Germany's surprise contraction in the second quarter this year was mainly due to a halt in equipment and buildings investments, as the industrial sector continues to weaken under pressure from rising interest rates.

Economy

Rising energy prices spark increase in French inflation rate

France's national public audit office has said the eurozone's second biggest economy could be significantly exposed to macroeconomic shocks, because of its €154bn public deficit and lagging public finances.

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Business

Jewellery maker Pandora raises full-year growth guidance

The company recently opened its first flagship store in Copenhagen, and also launched its first lab-grown diamonds in Denmark.

Business

Thyssenkrupp warns of slowing growth in green hydrogen sector

The group also revealed the tax credits it is relying upon to subsidise the clean hydrogen market in the US could potentially be delayed until after November election.

Business

Which European cities have the longest-serving CEOs?

A recent study has looked at which cities and countries across the world have the longest-serving CEOs. Seven European cities are in the top 20.

Business

Temu's billionaire owner takes the top spot in China's rich list

The company, along with rival Shein offer heavily discounted items and have seen increased popularity in the US and UK.

Business

Disney to invest $5bn in films and TV shows in the UK and Europe

The company’s streaming business, which includes Disney+, ESPN+ and Hulu also recorded its first ever profit in the third quarter of the financial year 2024.

Markets

Pound remains on course for worst run of losses in almost a year

The currency could potentially be further weakened if the Bank of England chooses to implement more rate cuts this year.

Business

Ocado is first major supermarket to trial refillable packaging

The online grocer has worked closely with The Refill Coalition to design and implement the refilling and collection processes for the products.

Markets

Norwegian tourism gets boost as weaker Kroner draws visitors

The depreciation of the Norwegian kroner has made the famously expensive Nordic country a more affordable destination for tourists, increasing spending and benefiting local businesses.

Business

Boeing re-designs 737 Max after mid-air door panel blowout

The company also saw a net loss both for the second quarter and the first half of the year, however, it reassured investors that it was making progress in quality management.

Business

Glencore scraps coal business sale plan after shareholder talks

The company also revealed it is no longer stockpiling key battery metal cobalt anymore, after the world's biggest supplier, the Democratic Republic of Congo raised production.

Business

Bayer reaps benefits of demand for new cancer and kidney medicines

German pharmaceutical giant Bayer AG released its second quarter and half year 2024 earnings on Tuesday morning, with the company seeing an average performance in the second quarter, due to the agricultural market environment becoming tougher.

Business

CrowdStrike strikes back at Delta Air Lines over flight disruptions

Last month's global IT outage on 19 July affected a number of airlines including Ryanair, Vueling Airlines, Singapore Airlines and Virgin Australia.

Business

British Airways' owner puts brakes on Air Europa takeover bid

IAG had offered a series of concessions to the EU regulators, including giving up take-off and landing slots to competitors but the regulators still saw the bid as potentially anti-competitive.

Business

Samsung looks to find a good fit as it enters the smart ring market

Samsung is entering the smart ring market with a product of its own: the Galaxy Ring. It is competing with established players such as Oura but hopes the offer of a no subscription fee deal will give it an edge.

Business

Flooding in Switzerland hits Jaguar Land Rover production

Other major car makers including Porsche and BMW have also been affected by an aluminium shortage caused by the flooding of a supplier's factory.

Business

Intel unveils plans to axe 15% of workforce in cost saving initiative

The company also issued a revenue warning for the third quarter of the year, revealing that it was planning to focus more on artificial intelligence semiconductors, instead of traditional data centre ones in the coming months.

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