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Man Utd stadium regeneration could add £7.3bn to British economy
A proposed regeneration of the area around Manchester United's Old Trafford stadium could generate £7.3 billion ($9.7 billion) annually to the British economy, according to an economic feasibility study commissioned by the club. United are considering whether to pursue a £2 billion plan for a brand new 100,000-seater stadium or redevelop the existing 74,000 capacity Old Trafford.
Friedkin Group reach deal to buy Everton
Everton announced on Monday that the US-based Friedkin Group has reached an agreement to buy Farhad Moshiri's majority stake in the struggling Premier League club. "Blue Heaven Holdings and the Friedkin Group confirm that they have reached agreement over the terms of the sale of Blue Heaven Holdings' majority stake in Everton Football Club," the club said.
Telegram's Durov announces new crackdown on illegal content
Telegram founder and chief executive Pavel Durov said Monday that the messaging platform had removed more "problematic content", weeks after his arrest in France on charges of failing to act against criminals using the app.
Swedish battery maker Northvolt to slash 1,600 jobs, quarter of staff
Sweden's beleaguered electric car battery maker Northvolt said Monday it would cut a quarter of its staff in the country, as it struggles with strained finances and a slowdown in demand. The loss of 1,600 jobs in Sweden comes as electric car sales slump in Europe and the continent lags far behind China in battery production.
UniCredit ups stake in Commerzbank to 21 percent
Italian lender UniCredit said on Monday it has increased its stake in Commerzbank to around 21 percent, fuelling speculation that it could seek a takeover of its German rival. Before UniCredit took a stake in the German lender, Berlin had announced that it was looking to sell down its 16.5-percent stake in Commerzbank, citing the bank's improved economic situation.
Big rate cut was 'appropriate' first step: Fed official
The US Federal Reserve's decision to cut interest rates by half a percentage-point was "an appropriate and necessary first step," given progress on reducing inflation, a senior bank official said Monday.
UK's Labour looks to be more cheerful despite gifts and welfare row
Britain's governing Labour party on Monday sought to strike a more upbeat note about the country's future but against a furious backlash from unions at proposed cuts to welfare payments and a row over top ministers receiving gifts. Motions have been proposed at the conference calling for the cut to be abandoned.
Eurozone business activity slumps after Olympics boost
Eurozone business activity declined for the first time in seven months in September, as France lost steam after the end of the Paris Olympic Games, a key survey said Monday. The decline in business activity could add impetus to calls for the European Central Bank (ECB) to cut its key interest rate again in October.
EU launches WTO challenge against China dairy probe
The EU on Monday launched a WTO challenge against a Chinese anti-subsidy investigation into imports of European dairy product, in the latest move in a trade spat between Beijing and Brussels.
AFP
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