Italy May Raise Taxes on Energy Firms to Fund Budget
Italy is considering raising taxes on energy companies to finance tax cuts and increased public spending under its 2027-2029 budget, according to sources cited by Reuters on October 23. Prime Minister Giorgia Meloni’s government...
Shein Agrees to Pay $100 Million to Settle US FTC Probe
Chinese-founded fast-fashion retailer Shein has agreed to pay $100 million to settle an investigation by the US Federal Trade Commission (FTC) over delivery delays and other customer complaints, according to a source familiar with...
US Airlines Prioritise Higher Fares Over Fuller Flights as Fuel Costs Surge
US airlines are increasingly choosing higher ticket prices over fuller planes to protect profit margins amid soaring fuel costs. Delta Air Lines, United Airlines, American Airlines, Southwest Airlines and Alaska Air Group have focused...
Bombardier to Invest $270 Million in US After Trump Drops Ban Threat
Canadian aircraft manufacturer Bombardier will invest approximately $270 million in the United States and recruit for 500 positions, following President Donald Trump’s decision to step back from threats to ban the company from the...
American Express Raises 2026 Profit Forecast, Plans 5% Workforce Cut
American Express raised its 2026 profit forecast above Wall Street expectations on Friday after reporting stronger-than-expected third-quarter results. The company now expects full-year adjusted earnings of $17.60 to $17.90 per share, exceeding analysts’ estimates...
P&G Warns of Higher Costs as Quarterly Sales Beat Estimates
Procter & Gamble (P&G) has raised its estimate of the impact of rising raw material, energy and freight costs on its fiscal 2027 profit to $1.4 billion, up from the earlier projection of $1...
Short Sellers Earn $6 Billion as AI Data Centre Stocks Slide
Investors betting against US neocloud and data centre companies have recorded nearly $6 billion in paper profits so far in October, as concerns over the sustainability of debt-fuelled artificial intelligence infrastructure investments trigger a...
eBay to Cut 9% of Global Workforce Amid Restructuring
eBay announced on Thursday that it will cut approximately 9% of its global workforce, affecting around 1,000 employees, as part of a restructuring plan to simplify operations and redirect resources towards its key strategic...
OpenAI Expands ChatGPT Ads to 89 Countries to Boost Revenue
OpenAI announced on Wednesday that it is expanding advertising on ChatGPT to 26 additional countries, bringing the total number of markets to 89. The move comes as the artificial intelligence company strengthens its advertising...
Critical PHP Vulnerabilities Force Government Websites Offline
Government websites across Europe and other regions went offline on Wednesday after the discovery of two critical vulnerabilities in PHP, a widely used programming language that powers a significant portion of the internet. PHP...