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UK finance sector needs greater social mobility: study
Britain's financial and professional services sector must boost socio-economic diversity in boardrooms, helping to bridge big differences in pay, a study commissioned by the government concluded Wednesday.
EU commission recommends funding freeze for Hungary
The European Commission recommended on Wednesday that 13 billion euros ($13 billion) in EU funds for Hungary be frozen because Budapest is falling short on its commitments to meet European rule of law. Also, 5.8 billion euros from an EU coronavirus recovery fund was frozen until Hungary showed it was meeting 27 "super milestones" for its reforms, particularly on the judiciary issue.
Bird flu kills almost 14,000 pelicans, seabirds in Peru
The highly contagious H5N1 avian flu virus has killed thousands of pelicans, blue-footed boobies and other seabirds in Peru, according to the National Forestry and Wildlife Service (SERFOR). "The latest official report carried out at a national level shows more than 13,869 wild seabirds killed by the dangerous H5N1 avian flu virus," said a SERFOR statement released late Tuesday.
US private hiring eases more than expected in November: survey
US employers eased their hiring pace in November, with job creation slowing the most since early 2021, as the central bank's interest rate hikes trickle through the economy, payroll firm ADP said Wednesday. But in November, job creation slowed by the most since January 2021, ADP said.
Turkey says Sweden's steps for NATO bid positive but not enough
Turkey said on Wednesday Sweden's new government was more determined to address Ankara's security concerns in return for NATO membership but called for "concrete steps".
H&M to cut 1,500 jobs worldwide
Swedish fashion retailer H&M said Wednesday it would cut some 1,500 jobs worldwide as a result of a cost-cutting programme launched following its decision to leave the Russian market. "The programme relates to administrative and overhead costs, and also entails reducing the workforce by around 1,500 positions," the company said in a statement.
Losses deepen at crisis-hit SAS airline
Troubled Scandinavian airline SAS, which has filed for bankruptcy in the United States, reported Wednesday deeper losses in the fourth quarter. SAS filed for Chapter 11 bankruptcy proceedings in the United States in July -- a move allowing a company to restructure its debts under court supervision.
Kenya's Ruto launches flagship credit scheme for poor
Kenyan President William Ruto on Wednesday launched a low-interest credit scheme to boost financial access for the country's poorest citizens, fulfilling a key campaign promise made to voters. The fund will eventually also offer small-scale enterprises and start-ups access to credit, with those loans set to be launched by the end of May next year.
Mozambique court starts ruling on 'hidden debt' graft scandal
A court Wednesday begun handing down verdicts in Mozambique's biggest corruption scandal, in which the government unleashed a financial earthquake by trying to conceal huge debts. In March the IMF awarded $456 million in credit to Mozambique, the first such aid awarded since the debt scandal erupted.
AFP
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