Business
Business
Spandex Maker Lycra Files for Bankruptcy After Years of Stress
Spandex maker The Lycra Company has filed for Chapter 11 bankruptcy in Texas to implement a restructuring deal that will see most of its debt written off after creditors took control of the business.
Business
Stock-Market Euphoria Fades as Investors Turn Bearish, BofA Says
The “frothy bull” market sentiment of the past few months is ending as global investors turn bearish, according to Bank of America Corp.’s latest fund manager survey.
Business
Ethiopia Spent $1.35 Billion Defending Currency Even Before War
Ethiopia is set to keep supporting its currency, having already spent $1.35 billion buying birr this year, an amount that equates to roughly a quarter of its known central bank reserves.
Business
European Defense Stocks Stall as Investors Seek Earnings Proof
A runaway rally in pricey European defense stocks has faded as investors look for proof that increased military spending is translating into meaningful earnings growth.
Business
Europe’s Green Power Revolution Softens Iran Energy Price Shock
Europe’s power market is facing its first serious geopolitical stress test since the 2022 energy crisis — and, so far, it’s holding up.
Business
India Growth Seen at Risk as Iran War Shows No Sign of Easing
Surging oil prices and acute gas shortages are rippling through India’s economy as the Iran war drags on, disrupting industries and prompting analysts to cut growth forecasts while warning of rising inflation.
Business
China State Bankers Face 30% Bonus Cuts as Pay Reform Deepens
Some senior bankers at China’s state-backed financial firms are bracing for bonus cuts of at least 30% as Beijing intensifies a sweeping remuneration reform across its $69 trillion financial sector.
Business
Car park firm NCP collapses with nearly 700 jobs at risk
The car park operator says demand for parking has not recovered to pre-Covid levels, as its administrators look to sell the business.
Business
BNP Targets €350 Billion Inflows After Axa Asset Management Deal
BNP Paribas SA expects to attract €350 billion ($400 billion) in net inflows at its asset management business by 2030 following the acquisition of Axa SA’s investment unit.
Business
India Should Target $1 Trillion in Reserves, Ex-RBI Deputy Says
India needs a forex reserve buffer of at least $1 trillion to ensure robust intervention capacity, according to a former central bank official.
Business
Twitter trial accusing Musk of driving down stock set for closing arguments
The civil trial centres on a class-action lawsuit filed just before Musk took control of Twitter, which was renamed X.
Business
Bitcoin Surprises as Oasis of Calm While Iran War Jolts Markets
Cryptocurrencies have stood out as winners among asset classes since the outbreak of the war with Iran, but the resilience of digital assets may be a matter of timing.