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UK needs to cut 200,000 govt jobs over next few years to avoid debt spiral

Public-sector wages are on track to increase 5% this year, around half the current rate of inflation but higher than budgeted when spending plans were drawn up in 2021.

Morgan Stanley-led banks face $500 million loss on Twitter debt to Musk

When banks led by Morgan Stanley agreed in April to help finance Elon Musk's purchase of Twitter Inc., they were eager to aid an important client, the richest person in the world

American Tower Corp weighs offer for stake in Vodafone Towers unit

American Tower Corp. is weighing entering the race for a stake in Vodafone Group Plc's €13 billion ($12.6 billion) wireless towers unit, people familiar with the matter said.

YES Bank now on a hunt to buy stressed assets from other lenders

YES Bank agreed to sell Rs 48,000 crore ($5.9 billion) of a bad loan portfolio last month to JC Flowers' ARC, a move Prashant Kumar said will help boost its profitability

Anil Agarwal faces key vote for plan to tap Vedanta cash reserves

Shareholders of Indian unit Vedanta Ltd. will on a company plan to move money out of its reserves and into its balance sheet, increasing the probability that the funds will be used for dividends

Mukesh Ambani joins the list of global rich with family office in Singapore

Asia's second-wealthiest man, Reliance Industries Ltd. Chairman Mukesh Ambani, is setting up a family office in Singapore, according to people familiar with the move.

Low volatility in stock markets signals some respite for Asia: Report

Implied volatility tends to rise when asset prices suffer a downtrend, as investors snap up put options to hedge against further losses. It typically falls in bullish markets

Crypto hacked again in $100 million theft of Binance-backed blockchain

An exploit occurred on a bridge between blockchains and the issue is "contained now," Changpeng "CZ" Zhao, billionaire co-founder of Binance, the world's biggest crypto exchange, said on Twitter

Facebook is warning 1 million users about stolen usernames, passwords

Social media giant has identified more than 400 malicious Android and iOS apps this year that target internet users

Credit Suisse offers to buy back debt securities worth 3 bn Swiss francs

Credit Suisse Group AG is offering to buy back debt securities for cash worth approximately 3 billion Swiss francs, just as the embattled lender tries to put finishing touches on a planned overhaul

Kremlin tells state media to start admitting some failures in Ukraine war

After months of reporting virtually nothing but battlefield successes, state TV has lately been cataloging Russian retreats and defeats - without the usual positive spin from the Ministry of Defence

Chipmakers see 'breathtaking drop' in demand as global recession looms

Samsung reported a 32% dive in operating income, while PC-processor chipmaker AMD said it will miss its earlier forecast by about $1 billion

Crypto exchange ZebPay applies for license in Singapore, also eyeing UAE

Daily trading volume on ZebPay has dropped from a high of $122 million in October 2021 to just over $700,000, data from Nomics shows

140 organisations worldwide ask IMF to issue $650 bn to help poor nations

Allocating more IMF reserve assets known as special drawing rights, or SDRs, "would immediately make hundreds of billions of dollars available to nearly all low- and middle-income IMF member countries

UK shows labour market slowdown with recession concerns rising: Survey

As a result, vacancies and the number of people placed in roles both rose at the slowest pace in more than a year and a half

Ideas for good governance

Madhava Rao is virtually unknown today, but Rahul Sagar's book brings to life this forgotten statesman of the nineteenth century, who took the first steps towards enlightened governance in the country

Looking for job? US searching for foreign workers; hiring needs moderating

The Federal Reserve is raising interest rates aggressively to help lower spending on goods and services and reduce demand for workers, which could in turn soften wage growth

Apple's 1.1 bn euros French anti-competitive agreement fine slashed by 66%

"The 90% multiple is disproportionate," the court said in its ruling. "A 50% multiple is sufficient to guarantee that the penalties are repressive and dissuasive"

Credit Suisse's shares need 'clarity' to halt slump, says JPMorgan

While the bank continues to get buffeted by negative newsflow on uncertainty over its strategy, clarity on its restructuring plans can help to restore stability, wrote expert in a note

India, Indonesia debt outperforms China despite volatile global markets

The two countries' sovereign debt only lost 0.4% and 1.5% respectively for dollar-based investors in the third quarter, less than other emerging markets in Asia including China