Business and Economy

Business and Economy Latest News

Saudi and Russia extend oil cuts through December
Saudi and Russia extend oil cuts through December
by  AFP

Saudi Arabia and Russia said on Tuesday they would extend voluntary oil cuts until the end of the year, continuing their campaign to bolster prices. - Profits down - In August, oil firm Saudi Aramco announced profits of $30.08 billion for the second quarter of 2023, a fall of 38 percent from the same period last year when prices surged after Russia invaded Ukraine.

UK's second biggest city declares financial distress
UK's second biggest city declares financial distress
by  AFP

The UK's second biggest city on Tuesday admitted that it cannot balance its books, blaming Conservative governments for years of under-funding. SIGOMA, a grouping of 47 urban councils within the LGA, last week warned that one in 10 of its members were considered making the statutory admission that they have no prospect of balancing their books.

French beauty giant L'Occitane dives as go-private talks called off
French beauty giant L'Occitane dives as go-private talks called off
by  AFP

Shares in French beauty brand L'Occitane plunged by a record of almost 30 percent in Hong Kong on Tuesday after its chairman called off talks on taking the firm private. Bloomberg News reported in July that chairman Reinold Geiger was studying options for taking the brand private, using a holding company that owned more than 70 percent of its shares.

Energy

Money

Industry

Technology

Economy