BUSINESS

The Kenyan shilling sank to a new all-time low of 150 to the dollar on Monday, adding to the woes of people already battered by high inflation and a raft of new taxes.

US energy giant Chevron will buy its rival Hess for $53 billion in an all-stock deal, the companies announced in a joint statement on Monday.

New York's attorney general on Thursday filed a lawsuit accusing cryptocurrency firms Gemini and Genesis with fraud that wound up costing investors more than a billion dollars.

Tesla's results for the third quarter missed analyst estimates on Wednesday, as the Elon Musk-run company was hit by higher costs and the fallout from price discounts.

Chinese property giant Country Garden denied Thursday its founder and chairwoman had fled the country, as the debt-saddled builder flirts with a default that could send shockwaves through the industry.

Amazon on Wednesday said it hopes to expand drone delivery into Britain and Italy by late next year, as it unveiled new warehouse robots and tech in its race to get shoppers what they want quickly.

Finnish telecom giant Nokia said Thursday it would cut up to 14,000 job as profits fell on weakening demand for its 5G equipment in North America.

China's economy grew more than expected in the third quarter, data showed Wednesday, but the reading was still below target and officials continue to face calls for more stimulus while struggling to contain an unprecedented property crisis.

Asian markets mostly fell and oil prices rallied Wednesday on fears that the Israel-Hamas conflict could spill over into a regional war after a blast at a Gaza hospital dealt a blow to President Joe Biden's diplomatic drive.

Taiwanese tech giant Foxconn and US hardware leader Nvidia said Wednesday they would team up to create "AI factories", powerful data processing centres that would drive the manufacturing of next-generation products such as electric cars.

Qatar has agreed to supply British firm Shell with natural gas for 27 years, the Gulf emirate's state-owned energy company announced on Wednesday.

Auto giant Ford's executive chairman on Monday urged workers to end their month-long strike, warning a prolonged stoppage could have a major economic impact.

Sales of smartphones continued to shrink globally in the recently-ended quarter as consumers watched spending, market tracker Counterpoint reported on Monday.

Apple chief Tim Cook made a surprise visit to China this week, greeting gamers in the southwestern city of Chengdu as his company faces slumping phone sales in its biggest market.

Rolls-Royce, the British manufacturer of aircraft engines, said Tuesday it plans to axe up to 2,500 jobs worldwide, or about six percent of its staff, to further slash costs.

US pharmacy chain Rite Aid filed for bankruptcy Sunday, the company said, after suffering declining sales and legal threats over its alleged involvement in the opioid crisis.

Europe's main stock markets and oil prices steadied Monday after last week's volatility at the start of the Israel-Hamas conflict.

The United States has extended a waiver to Taiwanese semiconductor giant TSMC to supply US chip-making equipment to its factories in China, the island's economic affairs minister said Friday.

Taiwanese semiconductor giant TSMC said Friday it has applied for -- and expects to receive -- permanent authorisation from Washington to allow the export of US chip-making equipment to its China-based factory.

The heads of the IMF and World Bank urged member nations on Friday to boost the funding firepower of the global lenders to help poorer countries combat poverty and climate change.

ExxonMobil sealed a megadeal to acquire shale producer Pioneer Natural Resources for about $60 billion on Wednesday, and depicted the transaction as boosting US energy security in an attempt to allay regulatory concerns.

German sandals maker Birkenstock will debut on the New York stock exchange Wednesday with a valuation of $8.6 billion that belies its former dowdy image, with the brand now a fashion favorite and the pink footwear of choice for "Barbie."

Asia extended a global markets rally Wednesday on a growing belief the Federal Reserve is finished with its interest rate hiking cycle, while optimism was also boosted by a report that China is considering a large burst of economic stimulus.

Qatar has agreed to supply France's TotalEnergies with natural gas for 27 years, its state energy company announced on Wednesday.

Seven survivors and relatives of victims of a bloody 2021 jihadist attack in northern Mozambique have launched legal action against France's TotalEnergies, accusing it of failing to protect contractors at a multi-billion-dollar gas field, their lawyers said Tuesday.

Debt-saddled Chinese property giant Country Garden said Tuesday that it did not expect to meet all of its offshore payment obligations in time as it edges towards a potential default.

Despite mounting efforts to limit climate change, the OPEC oil cartel said Monday it expects demand for crude to continue to grow for the next two decades.

Oil prices rallied while the dollar and yen advanced Monday after Hamas launched a shock attack on Israel at the weekend, sparking fresh concerns about tensions in the Middle East.

Global trade growth will be sharply lower than forecast this year as stubborn inflation, high interest rates and the war in Ukraine pressure economies around the globe, the World Trade Organization said Thursday.