Category: business
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Rio Tinto Plans Up to $10 Billion in Divestments as CEO Outlines Strategy for Growth and Productivity
Rio Tinto Eyes $10 Billion in Asset Sales Amid Strategic Overhaul Melbourne/London, December 4, 2025 – Rio Tinto (ASX: RIO, LSE: RIO), the world’s largest iron ore miner, announced plans to streamline its operations and focus on productivity improvements during its first strategy day under CEO Simon Trott. The mining giant revealed that it could
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UK Businesses Plan Job Cuts but Maintain Price Increases, Bank of England Survey Shows
London, United Kingdom – British firms are preparing to reduce staff numbers while maintaining price increases at rates similar to previous expectations, according to a recent survey by the Bank of England (BoE). The survey of more than 2,000 companies was conducted between November 7 and November 21, 2025, prior to Finance Minister Rachel Reeves’
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Philips Shares Plunge Over 7% After Management Lowers Growth Expectations
Amsterdam, Netherlands / Milan, Italy – Shares of Philips (PHG.AS) dropped by over 7% on Thursday, marking their largest single-day decline in nearly 10 months, following comments from the Dutch health technology company that tempered investor expectations for future growth. The fall comes after Philips’ CEO Roy Jakobs addressed investors at Citi’s Global Healthcare Conference,
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Trump’s Proposed Rollback on Fuel Economy Rules Boosts European Carmakers’ Shares
Frankfurt, Germany / Detroit, USA – Shares of European carmakers surged between 2.5% and 5% in early Thursday trading following U.S. President Donald Trump’s proposal to relax fuel economy standards originally implemented under former President Joe Biden. The regulatory shift aims to make it easier for automakers to sell gasoline-powered vehicles in the U.S., potentially
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Watches of Switzerland Reports 15% Surge in U.S. Sales Amid Strong Demand for Luxury Timepieces
New York, USA – Luxury watch retailer Watches of Switzerland Group (WOSG.L) reported a 15% increase in U.S. sales for the first half of 2025, driven by heightened demand for high-end timepieces in its key market. The company attributes the growth to strong consumer interest in premium watch brands such as Rolex, TAG Heuer, and
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Italian Police Request Governance Documents from 13 Luxury Fashion Brands Amid Labor Abuse Probe
Milan, Italy – Italian authorities on Wednesday visited the headquarters of 13 high-end fashion firms, requesting detailed documentation on corporate governance and supply-chain oversight as part of an investigation into alleged worker exploitation at subcontractors. Judicial documents obtained by Reuters show the move is part of a broader effort to scrutinize labor practices in the
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Sainsbury’s Shares Fall as Qatar Investment Authority Reduces Stake
Shares in British supermarket giant Sainsbury’s (SBRY.L) fell 4% on Wednesday after the Qatar Investment Authority (QIA) announced it would sell a significant portion of its holding in the company, ending nearly two decades as the grocer’s largest shareholder. Details of the QIA Stake Reduction The sovereign wealth fund plans to offload up to 83.6
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Marvell Shares Surge as Chipmaker Expands AI Ambitions with Celestial AI Acquisition
Shares of Marvell Technology (MRVL.O) soared 9% in premarket trading on Wednesday following the company’s $3.25 billion acquisition of semiconductor startup Celestial AI. The deal underscores Marvell’s aggressive push into next-generation AI infrastructure and signals renewed investor confidence in the chipmaker’s strategic vision. Marvell’s AI Expansion Strategy Marvell is doubling down on AI-focused infrastructure after
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LSEG Partners with OpenAI to Integrate ChatGPT with Financial Data
The London Stock Exchange Group (LSEG) has announced a strategic partnership with OpenAI to integrate its financial data and analytics into ChatGPT, the AI-powered conversational tool. The collaboration, revealed on Wednesday, aims to enhance LSEG’s data-driven services and provide employees with advanced AI tools for financial analysis. Revolutionizing Financial Data with AI Under the partnership,
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JP Morgan Now Expects Federal Reserve Rate Cut in December
BENGALURU, India – J.P. Morgan has revised its outlook for U.S. monetary policy, now predicting that the Federal Reserve (Fed) will implement a 25-basis-point interest rate cut in December, reversing its earlier expectation of holding rates steady until January. The shift in JP Morgan’s forecast follows recent comments from key Fed officials, including New York
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