Chinese Tesla rival Nio cuts 10% of workforce as CEO predicts ‘intense competition’
China’s Nio has been hit by weak consumer sentiment in the world’s second-largest economy, stiff competition and a price war started by Elon Musk’s Tesla.
Goldman Sachs says the Israel-Hamas war could have major implications for Europe’s economy
The Israel-Hamas war could significantly impact economic growth and inflation in the euro zone unless energy prices remain contained, Goldman Sachs says.
Shares of Maersk plunge 18% as shipping giant announces 10,000 job cuts, says profit will be at lower-end of guidance
Maersk, a bellwether for global trade, said it was facing subdued demand and inflationary pressures.
Don’t trust the stock market rally, strategist warns
There remains a significant chance that the Fed will be pushed into another rate hike, one strategist warns.
SocGen Q3 earnings beat estimates as investment bank offsets French slump
France’s third-biggest listed bank posted better-than-expected quarterly earnings.
Deutsche Bank and UniCredit back $4.5 billion insurance startup Wefox with $55 million in fresh funds
Wefox, which sells insurance plans online, raised $55 million in debt financing from Deutsche Bank and Unicredit, sources familiar with the matter told CNBC.
Russia fumes at the West’s charm offensive in its backyard, saying it’s ‘luring’ its friends away
Russia is likely to be watching closely as Western nations try to build alliances in what has traditionally been seen as its “backyard” and sphere of influence.
‘It’s going to be bloody’: Why Israel’s long war ahead will be nothing like what it’s faced before
Prolonged urban combat will bring a slew of deadly challenges for the IDF – and likely some key advantages for Hamas, military analysts say.
Neopets is under new management and planning a comeback in a vastly different era of gaming
World of Neopia CEO Dominic Law is aiming to revive the 24-year-old web browser game that at one point boasted an active player count of 35 million players.
Air pollution in India’s New Delhi turns ‘severe,’ some schools shut
People in New Delhi woke up to a thick layer of toxic haze on Friday, and some schools were ordered to be shut for two days.
