Business

BoE’s Bailey confirms decrease in bond purchase cap

Bank of England Governor Andrew Bailey said on Friday that the maximum size of the BoE’s Asset Purchase Facility holdings can now be lowered to 886 billion pounds from 966 billion pounds, after the conclusion of emergency purchases last month. The BoE bought 19 billion pounds of long-dated and index-linked government bonds last month to […]

Business

Euro zone downturn deepens, points to winter recession

The downturn in the euro zone economy has deepened as high inflation and fears of an intensifying energy crisis hit demand, adding to evidence the bloc is heading for a winter recession. A closely-watched survey showed euro zone October business activity contracted at the fastest pace since late 2020. German industrial orders also slumped more […]

Business

Blackstone explores sale of Permian energy producer PRI Operating -sources

A unit of Blackstone Inc (BX.N) is seeking to sell U.S. oil and gas producer PRI Operating for around $2 billion including debt, as the alternative asset manager continues its retreat from the oil patch, people familiar with the matter said. The business, also known as Patriot Resources, is owned by Blackstone’s credit investment arm. […]

Business

Global equity funds gain inflows for second week in a row

Global equity funds obtained huge inflows in the week ended Nov. 2 as investors were hoping that the U.S. Federal Reserve would consider decelerating the pace of its interest rate hikes, ahead of its policy decision. According to Refinitiv Lipper data, investors purchased a net $13.76 billion worth of global equity funds, marking their biggest […]

Business

Chaos, confusion reign ahead of Twitter layoffs

Fear and dread spread across Twitter Inc offices on Thursday as 7,500 employees from San Francisco to Singapore feared for job cuts that were planned to hit about half of the staff, according to current and former employees and message board posts shared with Reuters. Since billionaire Elon Musk took over last week, he has […]

Business

Ping An urges HSBC to make aggressive cost cuts

HSBC Holdings shareholder Ping An has urged the lender to cut costs aggressively and exit sub-scale non-Asian markets as the Chinese insurer pushes harder for the bank to spin off its Asia operation. HSBC should be “more aggressive in radically reducing costs” and consider layoffs, Ping An Asset Management, the bank’s largest shareholder and a […]

Business

Trio to lead energy-drinks giant Red Bull after co-founder’s death

Energy-drinks giant Red Bull will be headed by a board consisting of three current members of senior management following the death of co-founder Dietrich Mateschitz, his son Mark said in a statement issued by the company on Friday. Mateschitz, considered Austria’s richest man who died last month at the age of 78, founded the company […]