OPEC on Wednesday cut its 2022 forecast for growth in world oil demand for a fourth time since April and also trimmed next year's figure, citing slowing economies, the resurgence of China's COVID-19 containment measures and high inflation.
BoE fails to reassure over emergency intervention
Meta Platforms unveiled its Quest Pro virtual and mixed reality headset on Tuesday, marking a milestone for Chief Executive Mark Zuckerberg's break into the higher-end market for extended reality computing devices.
German chemicals group BASF said it would slash annual costs by 500 million euros ($485 million) in Europe until 2024 and look into restructuring its chemical sites in the region over the longer term after it was hit by high energy prices.
U.S. corporate travel and expense company TripAction said it raised $304 million from investors in equity and debt-like structured financing on Wednesday, as the company gears up for expansion and a public listing.
British government borrowing costs jumped again on Wednesday after Bank of England Governor Andrew Bailey told pension funds they had three days to fix liquidity problems before the bank ends emergency bond-buying that has provided support.
Monte dei Paschi di Siena was racing on Wednesday to get commitments from investors for its 2.5 billion euro ($2.4 billion) share issue so it can secure a backstop from banks for any unsold stock, three people close to the matter said.
Top Israeli ministers on Wednesday endorsed a U.S.-brokered deal to delineate a maritime border with Lebanon, paving the way for a potentially fractious two-week parliamentary review before it goes into force.
U.S. carriers including American Airlines Group Inc and United Airlines Holdings Inc are enjoying the strongest consumer demand in three years, but analysts and investors question how soon the good times might end as the growing risk of economic recession sparks worries about travel spending.
Business groups will almost certainly file lawsuits in an attempt to delay or derail a rule proposed by the Biden administration on Tuesday that would limit companies' use of independent contractors, experts said.
The dozens of items on the public agenda of the annual meetings of the World Bank and International Monetary Fund this week include several sessions on climate change, food security, and other chronic world problems, some on inflation and trade, and attention as well to economic inclusion and digital currencies.
The question of how, when and whether to cap gas prices is set to dominate another meeting of European Union countries on Wednesday, as they pursue a joint plan to target high gas prices - a compromise that has eluded them for weeks.
A leak on a pipeline carrying oil from Russia to Europe added to concerns about energy security on Wednesday, while European Union ministers worked on proposals to address the fuel crisis facing the continent heading into winter.
UK pension schemes are racing to raise hundreds of billions of pounds to shore up derivatives positions before the Bank of England calls time on support aimed at keeping them afloat.
Networking firm Cisco Systems Inc. will add Microsoft Corp.'s Teams messaging app to its meeting devices, the two firms said on Wednesday, offering users an alternative to its own Webex video conferencing app.
