Russia’s refining sector has absorbed one of the most intense waves of Ukrainian drone strikes since the start of the war — and yet its overall oil processing has declined by only 3% this year. The narrow impact, according to…
Verizon is preparing for one of the largest corporate overhauls in its history. The company’s new chief executive, Dan Schulman, is planning to eliminate roughly 15,000 jobs — about 15% of the workforce — in a sweeping restructuring aimed at…
Germany’s decades-long experiment with a fully volunteer military is entering a new chapter. On Thursday, Chancellor Friedrich Merz’s conservative-led government and the centre-left Social Democrats reached a long-awaited compromise on the future of military service — a core pillar of…
When UBS absorbed Credit Suisse in March 2023, the historic state-engineered rescue was framed as the only viable path to prevent a broader banking crisis. More than two years later, the Swiss National Bank (SNB) says the aftershocks are still…
European financial officials are quietly debating whether to pool dollar reserves across multiple central banks in an attempt to reduce their exposure to the U.S. Federal Reserve’s liquidity backstops — a foundational piece of the global financial system that has…
Elon Musk on Thursday forcefully denied reports that his artificial intelligence startup xAI has raised $15 billion in a new Series E funding round, dismissing CNBC’s latest claim as “false” in a statement posted to X. The denial comes at…
Pfizer has officially closed its acquisition of Metsera in a deal worth up to $10 billion, marking one of the drugmaker’s largest strategic bets in years and its most decisive re-entry into the booming global obesity market. The deal, approved…
Europe’s already strained semiconductor supply chain is facing a new, highly complex rupture as major customers of Nexperia—the Chinese-owned Dutch chipmaker—move to engineer a temporary workaround to keep critical automotive components flowing. According to sources familiar with the discussions, automakers…
The political battle over Jeffrey Epstein’s legacy entered a volatile new phase this week as House lawmakers prepared to vote on a resolution requiring the Justice Department to publish its unclassified Epstein files. The move comes amid the release of…
South Korea’s economy slowed down on Thursday—not because of markets, inflation data, or global risk sentiment, but because more than 550,000 students sat for the country’s notoriously high-stakes university entrance exam, the Suneung. The test, which has the power to…