Euro zone economy posts surprise expansion in the fourth quarter, curbing recession fears
Euro zone narrowly avoided a contraction as energy prices provide some relief.
Norway’s gigantic sovereign wealth fund loses a record $164 billion, citing ‘very unusual’ year
Norway’s sovereign wealth fund on Tuesday reported a record loss of 1.64 trillion kroner ($164 billion) in 2022.
China’s January factory activity returns to growth as economists cheer its reopening
China’s factory activity bounced back in January and expanded for the first time since September, data from the national bureau of statistics showed.
Asia’s chipmakers fall as Samsung sees worst quarterly profit in 8 years
Chipmakers in Asia fell as South Korean conglomerate Samsung Electronics saw its worst profit decline since the third quarter of 2014.
UniCredit hikes payout goal by 40% after record profit
UniCredit hiked one of the most ambitious payout targets among European banks, after posting its best profit in over a decade.
UBS gets a boost from higher interest rates, but warns of ‘uncertain’ year ahead
UBS’ fourth-quarter profit beat market expectations, but the Swiss banking giant warned of an “uncertain” year ahead.
Nearly a year on from the supposed Russian exodus, most major companies have yet to withdraw
After Russia invaded Ukraine in February 2022, companies across the G-7 and European Union announced plans to cease business operations in Russia.
McDonald’s profit grows as inflation-weary customers flock to its restaurants
McDonald’s is expecting that short-term inflation will continue in 2023.
Formula 1: Audi buys minority stake in Sauber ahead of 2026 F1 entry
Audi is excepted to make its long-awaited entry into Formula 1 in 2026 and will be Sauber’s strategic partner. It will use Ferrari power units in 2024 and 2025.
U.S. stops granting export licenses for China’s Huawei, sources say
The move was expected to reflect the Biden administration’s tightening of policy on Huawei over the past year.
