Economic News

BRUSSELS (Reuters) – The European Commission presented its Green Deal Industrial Plan on Wednesday in response to the U.S. Inflation Reduction Act (IRA), with increased levels of state aid to help Europe compete as a manufacturing hub for clean tech products.

By Michael Martina and David Brunnstrom WASHINGTON (Reuters) – The speaker of Taiwan’s parliament spoke at a forum for international religious freedom in Washington on Wednesday and stressed the importance of defending the island’s democracy in the face of pressure from China.

GDANSK (Reuters) – Poland’s competition watchdog has accused e-commerce firm Amazon’s European unit of misleading sales and delivery practices, the Office of Competition and Consumer Protection (UOKiK) said on Wednesday.

(Reuters) – Match Group Inc said on Wednesday it would lay off about 8% of its workforce, becoming the latest tech company to cut jobs in the face of rising interest rates and lower spending from consumers.

(Reuters) – India’s Adani Enterprises has called off its share sale, a source with knowledge of the matter told Reuters on Wednesday.

WASHINGTON (Reuters) – The United States has opened its embassy in the Solomon Islands, Secretary of State Antony Blinken said on Wednesday, as Washington seeks to boost diplomatic relations in the Pacific as a counter to China.

By Tom Balmforth, Max Hunder and Dan Peleschuk

By Abhirup Roy and Akash Sriram SAN FRANCISCO (Reuters) – Rivian Automotive is laying off 6% of its workforce in an effort to cut costs as the EV maker, already grappling with falling cash reserves and a weak economy, braces for an industry-wide price war.

By Mica Rosenberg, Kristina Cooke and Jackie Botts

(Reuters) – Blackstone Inc’s real estate income trust hit the monthly redemption limit in January, according to a letter to investors on Wednesday.

By Paul Lorgerie and Philip Pullella KINSHASA (Reuters) – Pope Francis celebrates Mass in the Democratic Republic of Congo capital Kinshasa on Wednesday, the second day of a visit intended to remind the world of the violence and povertyravaging the huge central African nation.

BUCHAREST (Reuters) – Divisive internet personality Andrew Tate reiterated claims he was innocent on Wednesday ahead of a court hearing to rule on his appeal against extended detention pending a criminal investigation for alleged human trafficking and rape.

By Jayshree P Upadhyay MUMBAI (Reuters) – India’s market regulator SEBI is examining a rout in shares of Adani Group companies and also looking into any possible irregularities in the recent share sale by its flagship company, a source with direct knowledge of the matter

(Reuters) – A new bust of Soviet leader Josef Stalin has been unveiled in Volgograd ahead of Wednesday’s 80th anniversary of the Red Army’s defeat of Nazi invaders in the bloodiest battle of World War Two.

By Nivedita Balu and Akash Sriram (Reuters) – Apple Inc is expected to report its first decline in quarterly revenue in nearly four years after strict COVID-19 curbs in China rapped the economy and related protests upended iPhone production at its biggest supplier Foxconn.

By Milana Vinn (Reuters) – Rapid7 Inc, the cybersecurity firm that hired Twitter Inc whistleblower Peiter Zatko last month, is exploring options that include a possible sale after attracting acquisition interest, according to people familiar with the matter.

By Sonali Paul MELBOURNE (Reuters) – Oil prices climbed on Wednesday underpinned by a weaker dollar, which fell on signs of slowing inflation in the United States, easing fears that the world’s largest oil user may face a recession because of further interest rate hikes.

WASHINGTON (Reuters) – The U.S. Justice Department is conducting a planned search of President Joe Biden’s Delaware beach house, his lawyer said on Wednesday, adding that the president is cooperating with the search.

PARIS (Reuters) – Hopes are rising of a deal between Airbus and Qatar Airways as early as Wednesday to avert an unprecedented trial over the safety of the A350 jetliner and billions of dollars of cancelled orders, two people familiar with the matter said.

LOS ANGELES (Reuters) – FedEx Corp on Wednesday said it would cut its officer and director team by 10% as part of a broad cost-reduction effort that has reduced staffing at the delivery giant by 12,000 workers since June.