International News

  Bloomberg The UK’s new financial plan will seek to make any recession as short as possible, Chancellor Jeremy Hunt said. “I want to make sure that this recession, if we are in one, is as short and shallow as possible,” Hunt said in an interview on Sky News. The UK economy shrinks in the third quarter for the first ...

  Bloomberg Swiss workers face the largest loss in real wages since 1942, with the country likely to dodge a wage-price spiral due to low salary increases, according to a UBS survey. Employers lifted pay by an average 1.1% this year and intend raise them by 2.2% in 2023, 290 surveyed companies told UBS. Taking inflation into account, this translates ...

  Bloomberg A multimonth slide in Toronto home prices slowed in October, as sellers stepped back in hope the market will improve if they wait. The benchmark price for a home in Canada’s largest city fell 1.1% in October to C$1.1 million ($802,217) according to data released Thursday by the Toronto Regional Real Estate Board. That’s the smallest decline in ...

  Bloomberg British businesses are taking creative and unusual steps to attract staff, amid a notably tight labour market. One of celebrity chef Raymond Blanc’s restaurants is subsidising a bus service. Le Manoir aux Quat’Saisons, which holds two Michelin stars, contributes to the transport link, helping them reach workers who live several miles away in Oxford. Supermarket chain J Sainsbury ...

Bloomberg New Twitter Inc. owner Elon Musk emailed his workers for the first time to prepare them for “difficult times ahead” and ban remote work unless he personally approved it. Musk said there was “no way to sugarcoat the message” about the economic outlook and how it will affect an advertising-dependent company like Twitter, according to the email reviewed by ...

  Bloomberg Apple Inc has hired a startup founder and former Facebook executive to run its information systems group after departures in that department. Timothy Campos will lead the Information Systems and Technology department, better known as IS&T, which handles the infrastructure behind Apple’s online services, customer support and website. Apple refers to the operation as its “nerve center” because ...

  Bloomberg Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg said the company will cut more than 11,000 jobs in the first major round of layoffs in the social media giant’s history. The reductions, equal to about 13% of the workforce, were disclosed in a statement. The company will also extend its hiring freeze through the first quarter. “I want ...

  Bloomberg Italy’s pensions will rise by 7.3% from next year to keep up with rising inflation, Finance Minister Giancarlo Giorgetti said. The boost to retirement payments, which is automatic in contrast to wage hikes, will bring relief to households hit by soaring energy costs in the European Union’s third-biggest economy but may further complicate the European Central Bank’s efforts ...

North Korea denied US allegations it was selling arms to Russia for use in Ukraine, amid worries Pyongyang could be moving closer to Moscow as it faces criticism from Washington over its weapons tests. “We once again make clear that we have never had ‘arms dealings’ with Russia and that we have no plan to do so in the future,” ...

The UK will legislate to extend the deadline for holding an election in Northern Ireland, people familiar with the matter said, to allow time to strike a deal on the region’s Brexit status with the European Union. The plan will be announced in Parliament on Wednesday, said the people, who spoke on condition of anonymity. The current expectation is that ...