China Evergrande Group's electric vehicle unit has suspended mass production of its only model due to a lack of new orders, two people with knowledge of the matter said, in the latest set of troubles facing the indebted property developer.
The near year-long infant formula shortage in the United States that prompted the intervention of the White House is likely to "persist" until spring, according to Reckitt Benckiser, the maker of what is now the biggest brand in the market, Enfamil.
Goldman Sachs Group Inc plans to cut the year-end bonuses for its traders, Bloomberg News reported on Friday, as the Wall Street giant looks to trim costs.
Twitter Inc on Friday suspended Kanye West's account again, just two months after it was reinstated, after its owner Elon Musk said he had violated the platform's rules prohibiting incitement to violence.
Global equity funds recorded enormous outflows in the week ended on Nov. 30 as investors booked profits - after a rally in the last month - amid concerns about global economic growth due to China's strict zero-COVID curbs.
U.S. Federal Reserve officials have signaled plans for a half-point interest rate hike at their meeting this month, and while that would be a step down from recent rate increases, new projections issued then could show a policy rate headed toward levels last seen on the eve of the 2007 financial crisis.
Recession of some sort next year is fast becoming consensus - to such an extent that financial markets could find themselves whiplashed if it doesn't materialise.
German Chancellor Olaf Scholz welcomed comments by U.S. President Joe Biden that he is open to tweaking the Inflation Reduction Act that has raised fears in Europe of losing investment.
Reach Power Inc, a Silicon Valley startup that beams electricity wirelessly, said on Friday it had raised $30 million in a funding round that will help it commercialize its products.
