Business

The pound edged lower on Friday after data showed the UK economy unexpectedly shrank in the three months to October. Economic activity fell by 0.1% in the August-October period, and also by that amount in October alone, according to data...

Papua New Guinea said on Friday that Alphabet's Google will build three subsea cables, funded by Australia under a mutual defence treaty, in a key upgrade to the digital backbone of the biggest Pacific Island nation. Australian and U.S. military...

German inflation rose to 2.6% in November, the federal statistics office said on Friday, confirming preliminary data. Inflation, or consumer prices harmonised to compare with other European Union countries, stood at 2.3% year-on-year in October. The statistics office gives more...

The U.S. Senate on Thursday rejected competing proposals by Republicans and Democrats to address a looming healthcare crisis, leaving some 24 million Americans vulnerable to significantly higher insurance premiums beginning on January 1 when a federal subsidy expires. Barring any...

Walt Disney is investing $1 billion in OpenAI and will let the startup use characters from Star Wars, Pixar and Marvel franchises in its Sora AI video generator, a deal that could reshape how Hollywood makes content. The three-year partnership...

Oil prices fell on Thursday as investors focused on Russia-Ukraine peace talks and eyed large surpluses in U.S. gasoline and diesel inventories. Brent crude futures settled at $61.28 a barrel, down 93 cents or 1.49%. U.S. West Texas Intermediate crude...

High-tax Italy plans to apply a levy on shipments from non-EU countries worth up to 150 euros ($176.31) and intends to double its tax on financial transactions, as Rome seeks ways to fund costly budget amendments, official documents have shown....

Italy awarded more than 1.1 gigawatts of capacity to 88 projects in its first auction exclusively for solar projects built without equipment manufactured in China, setting an average price of 66.38 euros per megawatt hour. The tariff is 17% higher...

Current low electricity market prices are a problem for French utility EDF's earnings and the company's ability to leverage debt if they persist at a time when EDF is gearing up to build six nuclear reactors, Fitch Ratings' senior director...

Italy's biggest insurer Generali and French bank BPCE said on Thursday they had dropped plans to merge their asset management businesses, in the absence of conditions necessary to make the deal viable. Generali in January signed a non-binding accord with...