Author: Pritam Barman

Wacker Chemie job cuts are about to reshape one of Germany’s best-known chemical makers, as the company moves to slash more than 1,500 positions in a sweeping cost-savings push. The move, announced Thursday, highlights how even major industrial players are being forced to adapt to high energy prices, rising tariffs and weakening demand across key markets. Investors briefly cheered the plan, but it underscores the deep challenges facing Germany’s broader chemicals sector. Most of the jobs will be eliminated in the company’s home market, Germany, where the industry is already struggling with low capacity usage and subdued orders from major…

Adecco stock plunged on Wednesday after the staffing giant laid out a new strategy that raised more questions than answers about its future dividend and leverage. The sharp slide underscored how sensitive investors are to any hint that payouts may come under pressure as the company works to cut debt. Adecco Stock Sinks After Capital-Markets Day Adecco stock dropped as much as 10% in Zurich trading, the steepest intraday decline since April, after the company’s capital-markets day presentation failed to reassure shareholders. By 2:42 p.m. local time, the shares were still down about 9.4%. During the event, the Zurich-based staffing…

US jobless claims fell to their lowest level since mid-April last week, signaling that employers are still slow to cut staff even as Americans grow more nervous about their job prospects. New data from the Labor Department shows that applications for unemployment benefits remain relatively muted, suggesting that the job market is cooling gradually rather than collapsing. At the same time, more people who are already out of work are staying on benefits longer, and surveys point to rising anxiety about layoffs and hiring. US Jobless Claims Drop to 216,000, Beating Expectations For the week ended Nov. 22, initial filings…

The drive for a simplified Federal Reserve is now front and center in the search for the next central bank chief, according to Treasury Secretary Scott Bessent, who says the Fed’s operating system has become too complex and confusing. Speaking on CNBC, Bessent said that the idea of a more simplified Federal Reserve has been a key theme in his interviews with the finalists to replace Chair Jerome Powell. Those talks are now in their final stages, with President Donald Trump expected to announce his choice before Dec. 25. As the Fed navigates an “ample reserves” regime, a large balance…

TikTok Shop luxury expansion is transforming the short‑video app from a bargain hub into a marketplace where $11,000 handbags and high‑end watches change hands in real time. What started in the US as a discount‑driven shopping feature just two years ago now includes pre‑owned Hermes and Chanel purses, rare Louis Vuitton and Nike collaborations, and watches from Rolex and Cartier. Most of these pieces are sold by secondhand resellers, many of whom rely on artificial intelligence to reassure buyers that the goods are genuine. The shift signals how far TikTok’s e‑commerce ambitions have come, even as questions about a potential…

US retail sales in September offered a mixed picture of consumer strength, with headline spending edging higher while underlying details pointed to a loss of momentum. After several months of solid gains, shoppers appeared to slow their pace, squeezed by rising prices and a softening job market. The latest figures, released by the Commerce Department after a delay tied to the government shutdown, underscore how uneven the spending backdrop has become. While US retail sales still moved up overall, many households — particularly those with lower incomes — are showing growing strain, even as wealthier consumers continue to benefit from…

Poland digital services tax legislation is moving to the center of the country’s economic agenda as the government prepares to target large online platforms starting in early 2026. The planned levy would hit foreign e-commerce marketplaces, ride‑sharing apps and digital advertising firms that generate big revenues in Poland but currently face lighter tax obligations than local competitors. Deputy Premier Krzysztof Gawkowski, who also serves as Digital Affairs Minister, told Bloomberg News he intends to unveil the proposal at the start of next year. The goal is clear: raise about 2.5 billion zloty ($681 million) in yearly revenue while “leveling the…

COP30 climate summit in Belem, Brazil, brought tens of thousands of delegates, activists and officials to the mouth of the Amazon River for two weeks of tense talks, dramatic setbacks and modest breakthroughs. On paper, this United Nations gathering marked a milestone: the 10th anniversary of the Paris Agreement, and the moment when countries’ climate plans for 2035 were put under the microscope. In practice, it exposed how slowly global climate diplomacy moves — and how much it depends on politics far beyond the negotiating halls. Reporting from the ground, Bloomberg Green’s Akshat Rathi and Jennifer Dlouhy described a summit…

Adnoc $150 billion spending plan is staying firmly in place as the United Arab Emirates’ state oil giant pushes ahead with a major growth drive at home and abroad. Abu Dhabi National Oil Co. has confirmed it will keep investments at $150 billion over the next five years, backing a strategy that ramps up production capacity in the UAE while aggressively expanding into international energy deals. The commitment underscores how the company aims to shape the future of oil, gas and petrochemicals as demand grows, including from AI and tech-related energy needs. The decision, approved by Adnoc’s board, highlights a…

US stocks climb to open Thanksgiving week, with a resurgent tech sector helping Wall Street shake off some of November’s nerves and pull major indexes higher. By mid-morning Monday in New York, investors were leaning back into risk after last week’s slump, even as they continued to weigh worries over artificial intelligence, stretched valuations and the Federal Reserve’s next move on interest rates. The mood on the floor was cautiously optimistic rather than euphoric, but the early tone suggested traders are preparing for a data-heavy holiday week with a bit more confidence than they had just days ago. Tech Rebound…