Economy: the news in short stories

Economy · 5 d ago

Dallas firm Disruptive announces a US$10-billion fund for late-stage bets

The fund will back at least 10 late-stage companies, with cheques of up to US$1 billion each. It targets capital-intensive fields such as AI and defence.

Economy · 6 d ago

An Air Canada Boeing 787 at Toronto Pearson Airport

Shanmugamp7 · CC BY-SA 4.0 · Wikimedia Commons

Air Canada cuts its earnings forecast as fuel costs climb

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Air Canada now expects adjusted earnings of $2.4 billion to $2.7 billion this year, down from the $2.9 billion to $3.2 billion it forecast less than three months ago.

Economy · 6 d ago

Google campus, Mountain View, California

Austin McKinley · CC BY 3.0 · Wikimedia Commons

Alphabet loses a record US$500 billion in value after weak results

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Shares in Google's parent fell about 13 per cent to US$281.37, wiping US$511 billion from its market value.

Economy · 6 d ago

European gas prices cross €100 a megawatt-hour for the first time since 2022

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Europe's benchmark Dutch TTF contract traded at €100.37 per megawatt-hour on Wednesday, up over 4% on the day. It was around €32 before the Iran war began in late February.

Economy · 6 d ago

Dietmar Rabich · CC BY-SA 4.0 · Wikimedia Commons

Volkswagen posts a US$6.5 billion quarterly loss on China and Porsche writedowns

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Volkswagen lost 5.8 billion euros (US$6.5 billion) after tax in the July-September quarter, on revenue down 6.3 per cent to 80.3 billion euros.

Economy · 6 d ago

Nelson Peltz's group offers US$1.4 billion to take Wendy's private

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Trian Fund Management and partners offered US$7.35 per share in cash, a premium of roughly 20 per cent to Tuesday's close.

Economy · 6 d ago

DoorDash agrees to buy Instacart for US$17 billion

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DoorDash offers US$65 a share, about 26 per cent above Instacart's Oct 22 close, with at least 75 per cent of it in cash.

Economy · 6 d ago

Christine Lagarde, president of the European Central Bank

European Central Bank president Christine Lagarde resigns

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Lagarde will step down on Feb 7, leaving EU leaders time to pick a successor before France's presidential election. Her term was due to run to the end of October 2027.