Markets

Hitachi said Wednesday it is pulling out of a multi-billion-pound nuclear power plant project in Wales, citing a worsening investment environment, in a blow to Britain's low-carbon energy ambitions.

The European Commission will revise its antitrust rules to keep up with global changes and invest a fifth of its 750-billion-euro (US$890 billion) COVID-19 recovery fund in digital projects to ensure it takes the lead in technology, its head said on Wednesday.

TOKYO: Japan's new leader Yoshihide Suga will struggle to push through structural reforms as they would be too painful for an economy hit by the coronavirus crisis, an executive of PIMCO, one of the world's largest investment firms, said on Wednesday (Sep 16). Tomoya Masanao, head of the Pacific...

Bundesbank chief Jens Weidmann will meet German lawmakers in a closed-door session on Wednesday, as part of efforts to defuse a constitutional crisis that had threatened to upend monetary policy in the 19-nation euro zone.

Achieving net zero emissions by mid-century would cost an estimated US$1 trillion-US$2 trillion a year of additional investments, or 1-1.5per cent of global gross domestic product, a report by the Energy Transitions Commission (ETC) said on Wednesday.

STOCKHOLM: Swedish game developer Embracer has agreed to buy Netherlands-based virtual reality (VR) games maker Vertigo Games for 50 million euros (US$59.25 million) upfront and a possible additional payment of up to 65 million depending on its performance over the coming years. "We have been ...

Dentsu Group Inc and Toyota Motor Corp have agreed to form a business alliance and establish two companies to improve Toyota's communications and digital transformation strategy, Dentsu said in a statement on Wednesday.

Fashion retailer Inditex , owner of Zara, returned to quarterly profit in the three months from May to July but reported sales down 31per cent on the year-ago period as virus-wary consumers stayed away from city centre shopping districts.

Alibaba Group Holding Ltd announced a new business initiative for smart manufacturing on Wednesday called Xunxi Digital Technology Company, as part of which it is opening a pilot factory in the Chinese city of Hangzhou.

Julius Baer is in advanced talks with the U.S. Department of Justice over alleged money laundering and corruption involving soccer body FIFA that could lead to a double-digit million U.S. dollar payment, the Swiss private bank said on Wednesday.