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  Bloomberg Deliveroo Plc is closing its Australian business after it failed to win enough orders competing against food-delivery rivals including Uber Eats and Menulog. Deliveroo Australia Pty has been put into administration and will stop trading imminently, Deliveroo said. “The company cannot reach a sustainable and profitable scale in Australia without considerable financial investment,” it said. The expected returns ...

Bloomberg Nato and Poland’s leaders said there is no indication that a missile that struck Polish territory late Tuesday was an intentional Russian attack as governments in the military alliance moved to defuse the incident. “Our preliminary analysis suggests that the incident was likely caused by a Ukrainian air defense missile fired to defend Ukrainian territory against Russian cruise missile ...

  Bloomberg Thailand will persist with its gradual approach to monetary policy tightening, a top central banker signalled, citing that the economy was better off compared to others on most parameters. “You could expect not to be surprised,” Bank of Thailand’s Assistant Governor Piti Disyatat said at the Bloomberg Business Summit in Bangkok on Wednesday, when asked what to look ...

  Bloomberg The European Central Bank (ECB) warned of rising stability risks for everyone from lenders to governments and households as the economic outlook darkens and officials battle record inflation. The cost-of-living squeeze is hurting people’s ability to service debts, while Europe’s worsening growth prospects threaten corporate profits, the ECB said on Wednesday in its Financial Stability Review. It also ...

  Bloomberg Credit Suisse AG agreed to sell a significant part of its securitised products group (SPG) to Apollo Global Management Inc. in a deal that will help cut back a business that soaks up capital. The transaction, along with the expected sale of other portfolio assets to third-party investors, is expected to reduce SPG’s assets from $75 billion to ...

  Bloomberg The Swiss National Bank (SNB) will probably have to raise borrowing costs again next month, President Thomas Jordan said. “There is a high probability that there will again be a need to tighten monetary policy to be sure that we can combat inflation sufficiently,” Jordan told business owners in Lausanne, Switzerland. Inflation has become broader in Switzerland and ...

  Bloomberg Uruguay’s central bank increased its benchmark interest rate to 11.25% and signalled it will tighten again by another half point next month. Policymakers raised borrowing costs by 50 basis points for a fourth consecutive policy meeting. Consumer prices slowed by the most in a year-and-a-half to 9.05% in October, but remain well above the 3%-6% target. With another ...

  Bloomberg Tencent Holdings Ltd. pledged to distribute the majority of its shares in meal delivery giant Meituan to investors, as China’s social media leader ramps up plans to reduce its extensive holdings across the world’s largest internet industry. Tencent, which had announced plans to pare its stake in online retailer JD.com Inc., will dole out more than 958 million ...

  Bloomberg US equity futures rise in choppy trading after a rocket strike inside the Polish border reminded investors of the potential for escalation in the Russia-Ukraine war, though the euro and the Polish zloty recouped earlier knee-jerk losses. While Europe’s Stoxx 600 Index snapped a four-day rising streak, contracts on the S&P 500 traded 0.4% higher, and those on ...

  Abu Dhabi / WAM AD Ports group on Tuesday announced its financial results for the third quarter of 2022. The group’s revenue grew 53% year-on-year (YoY) to AED1,466 million in Q3 2022 (+35% YoY growth to AED3,755 million for the first nine months of 2022), driven by strong growth in its maritime cluster and a robust performance of its ...