Updated - Squid Business

ABB’s new CEO says company has work to do after mixed Q3 numbers

By John Revill ZURICH (Reuters) -Swiss engineering group ABB needs to improve its performance, new Chief Executive Morten Wierod said on Thursday, after the company reported mixed third-quarter results. The maker of factory robots and fast electric chargers, whose numbers are watched closely because they give an insight into the health of the broader economy, …

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ECB cuts rates as expected, says well on track to tame inflation

(Reuters) – The European Central Bank cut interest rates for the third time this year on Thursday in a nod to sluggish economic growth, some softening in an otherwise rock-solid labour market and easing consumer price pressures. The ECB cut its deposit rate by 25 basis points to 3.25% as forecast in a Reuters poll …

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Exclusive-Nokia cuts 2,000 jobs in China, 350 in Europe as part of cost cuts, sources say

By Supantha Mukherjee STOCKHOLM (Reuters) – Nokia has laid off close to 2,000 people or about a fifth of its employee base across Greater China and plans to cut another 350 jobs across Europe as part of efforts to lower costs, according to two sources familiar with the matter. A Nokia spokesperson confirmed the company …

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Nigeria rolls out new Oxford R21 malaria vaccine

By Camillus Eboh ABUJA (Reuters) – Nigeria launched a new malaria vaccine on Thursday that will be freely administered to recipients, its health minister said, marking a significant milestone in its fight against the deadly disease. The launch makes the country one of the first in the world to back the new R21 vaccine, developed …

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TSMC bullish on outlook as AI boom blows Q3 profit past forecasts

By Yimou Lee, Ben Blanchard and Faith Hung TAIPEI (Reuters) -TSMC, the world’s largest contract chipmaker, bet on sustaining its strong growth, after reporting on Thursday a forecast-beating 54% jump in quarterly profit driven by soaring demand for chips used in artificial intelligence (AI). Taiwan Semiconductor Manufacturing Co, the dominant producer of advanced chips used …

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No plan to revive HS2 rail link to northern England, govt source says

LONDON (Reuters) -The new Labour government will not revive a plan to build a high speed railway line from the central English city of Birmingham to northern England, a source said, denying an earlier media report. LBC Radio said earlier on Thursday the government was set to announce that the HS2 high speed railway line …

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Sweden to loosen budget rules to boost infrastructure, defence

STOCKHOLM (Reuters) -Sweden plans to ease tight budget spending rules as it looks to boost spending in areas like infrastructure and defence, Finance Minister Elisabeth Svantesson said on Thursday. The government coalition, the Sweden Democrats and the opposition Social Democrats have agreed to target a balanced budget instead of aiming for a surplus of 0.33% …

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UNIFIL has vital role, mission must be strengthened, Italy says

By Crispian Balmer ROME (Reuters) -The U.N. peacekeeping mission to Lebanon is vital to ending war in the region and needs to be strengthened, not withdrawn from combat zones as Israel has demanded, Italy’s defence minister said on Thursday. The U.N. mission known as UNIFIL is stationed in southern Lebanon to monitor hostilities along the …

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St James’s Place highlights investor uncertainty ahead of UK budget

By Yamini Kalia (Reuters) -St James’s Place on Thursday joined other asset managers in flagging investor uncertainty ahead of the UK budget later this month, after reporting a bigger than expected increase in funds under management in the third quarter. CEO Mark FitzPatrick said that speculation around the new Labour government’s maiden budget on Oct. …

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At least 18 die in India’s Bihar state after drinking tainted liquor

By Saurabh Sharma LUCKNOW, India (Reuters) – At least 18 people have died and several more are in hospital after consuming tainted liquor in India’s eastern state of Bihar, a senior government official said on Thursday. The death toll is likely to rise, the official, who did not want to be named because he is …

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