Emissions reductions pledges ‘nowhere near’ what’s needed, UN says
The analysis comes ahead of next month’s COP27 climate change summit in Sharm el-Sheikh, Egypt, where the shadow of 2015’s Paris Agreement will loom large.
New UK PM Sunak delays highly anticipated spending plan to mid-November
The U.K.’s fiscal statement will be delayed to Nov. 17 after it was initially brought forward to Oct. 31.
Foxconn’s iPhone factory in China — the world’s largest — hit by Covid outbreak
Foxconn said that a small Covid outbreak at its iPhone assembly plant in Zhengzhou, China, is “controllable” and production remains “relatively stable.”
Goldman Sachs, JPMorgan CEOs tip U.S. economy for recession as labor tightness keeps Fed aggressive
Goldman Sachs CEO David Solomon and JPMorgan CEO Jamie Dimon both expect a U.S. recession.
Heineken cautious as Europe’s beer drinking starts to slow
Heineken said it has seen signs of slowdown in demand for its beer in some European markets after its third-quarter sales rose by less than expected.
iPhones will get USB-C charging after Apple says it will have to comply with EU law
Apple’s iPhone uses its proprietary Lightning charger. Under upcoming EU law, the iPhone would need to support USB-C.
Markets look for answers from the European Central Bank as it preps for a jumbo rate hike
Rates aside, there are two questions in the minds of market players as they wait to hear from ECB President Christine Lagarde Thursday.
Barclays posts profit beat for the third quarter on strong bond trading revenue
Barclays on Wednesday reported an unexpected rise in third-quarter earnings on the back of strong trading revenues, despite a continued drag from a costly U.S. trading error.
Deutsche Bank logs ninth straight quarter of profit with big earnings beat
Deutsche Bank on Wednesday reported a net income of 1.115 billion euros for the third quarter.
Standard Chartered third-quarter profit jumps 40%, beats estimates
Standard Chartered posted a 40% increase in quarterly profit, as the emerging markets-focused bank benefited from a sharp rise in net interest income.
