Trading in the global foreign-exchange market jumped to an all-time high amid heightened volatility, according to the Bank for International Settlements (BIS). Average daily transactions in April increased to $7.5 trillion, up 14% from the same month in 2019, the BIS said in its triennial survey. That compares with a growth rate of 30% in 2019 and a contraction of …

Maruti Suzuki India Ltd., India’s biggest carmaker, reported a higher-than-expected quarterly profit, aided by a weaker Japanese yen and easing of some supply chain constraints that boosted production recovery. Net income was 20.6 billion rupees ($250 million) for the three months ending September 30, the unit of Japan’s Suzuki Motor Corp. said in a statement to exchanges, compared with a …

Elon Musk wasted no time taking complete control of Twitter Inc. The billionaire appointed himself chief executive officer, dismissed senior management and immediately began reshaping strategy at one of the world’s most influential social media platforms as his $44 billion take-private deal closed. Musk, 51, is replacing Parag Agrawal, who was fired along with three other top executives. The mercurial …

A slump in demand for household appliances has prompted Swedish manufacturer Electrolux AB to scale back its North American operations in a move that affects as much as 8% of its 50,000-strong workforce. The job cuts of 3,500 to 4,000 employees form part of a cost reduction problem that was announced alongside Electrolux’s third-quarter earnings. The company, which makes cookers, …

Bank of Nova Scotia’s capital-markets unit is cutting some jobs in Asia and offering other staff members retention and relocation packages as the bank narrows its focus on regions closer to home. The move is part of the bank’s push to concentrate on North and South America, and its global banking and markets division in the Asia-Pacific region will focus …

Deutsche Lufthansa AG predicted demand for travel will remain strong in coming months as the desire to travel in the wake of the pandemic outweighs concerns about higher cost of living and the uncertain economic future. The airline group said demand for flights in the fourth quarter looks strong, adding it also expects a robust performance for its maintenance and …

China Southern Airlines Co. cancelled two scheduled flights that would have used Boeing Co.’s 737 Max, further postponing the return of the aircraft in the country since it was grounded in March 2019. The planned flights on October 30 were to be from Guangzhou to the cities of Wuhan and Zhengzhou, according to China Southern’s website. China’s largest airline originally …

Cathay Pacific Airways Ltd. will restart using Russian airspace several months after Moscow’s war in Ukraine upended the aviation industry and global flight paths, becoming among earliest of major airlines to do so. Hong Kong’s main airline will fly from New York to the Asian financial hub using the so-called Polar Route from November 1, the company said in an …

ArcelorMittal and BHP Group will test a full-scale carbon capture operation in Belgium, in the latest sign of major steelmakers and miners working together to curb emissions. Steelmaking is one of the most polluting industries, approaching a 10th of all greenhouse gas emissions. That’s put it in the firing line of investors and environmentalists who want to see credible plans …

Investment in renewable energy will need to hit $1.3 trillion a year by 2030 for the world to be on track to limit global temperatures set out in the Paris climate accord. That’s the latest assessment from the International Energy Agency (IEA), which revised up the figure from $1 trillion in a previous forecast. While the amount is more than …