Category: 3. Business

  • The economic impact of Tata Consultancy Services in the UK

    The economic impact of Tata Consultancy Services in the UK

    Tata Consultancy Services (TCS) commissioned Oxford Economics to calculate their economic footprint in the UK in 2023/24.

    We estimate that TCS supported a £3.3 billion contribution to UK gross domestic product (GDP) in FY2024. This is the sum of three channels of impact. Some £1.7 billion was contributed directly by TCS. A further £350 million was contributed by the company’s procurement spending, and the subsequent economic activity that this triggered through TCS’s supply chain—its indirect impact. Finally, the payment of wages by TCS and the firms in its supply chain supported a further £1.2 billion contribution to UK GDP—its induced impact.

    The company was also estimated to have supported almost 42,700 jobs across the UK economy in FY2024. TCS directly employed approximately 22,200 people. A further 5,000 jobs were supported along the UK supply chain by its procurement spend, whilst some 15,500 jobs were sustained through wage-induced spending.

    Explore the complete findings in our report at the link opposite.

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  • EBRD, EU and Raiffeisen Bank expand support for businesses and households in Bosnia and Herzegovina

    EBRD, EU and Raiffeisen Bank expand support for businesses and households in Bosnia and Herzegovina

    • EBRD unfunded portfolio guarantee of up to €25 million to Raiffeisen Bank in support of local SMEs
    • €3 million to be on-lent to households for green investments
    • Investments supported by the European Union in the form of technical cooperation, guarantees and incentive grants

    The European Bank for Reconstruction and Development (EBRD) and the European Union (EU), in partnership with Raiffeisen Bank Bosnia and Herzegovina, are boosting access to finance for small and medium-sized enterprises (SMEs) and households across the country.

    The EBRD is providing Raiffeisen with a €25 million unfunded risk-sharing guarantee, enabling €50 million in new lending to SMEs under the EBRD’s portfolio risk sharing (PRS) product. The guarantee will cover up to 50 per cent of the credit risk on new SME loans issued by Raiffeisen Bank. Backed by technical assistance and first-loss counter-guarantee from the EU’s European Fund for Sustainable Development Plus (EFSD+) Growth for All programme, the initiative targets underserved businesses – including those led by women and young people – and SMEs operating in tourism, agriculture and rural areas. This transaction is the first PRS facility supported by the EFSD+ in the Western Balkans, ahead of a regional roll-out.

    By sharing part of the risk with Raiffeisen Bank, the EBRD and EU are helping the bank strengthen its resilience and expand lending to more SMEs using the bank’s own funds. The PRS broadens the spectrum of EBRD products in the market, with an innovative solution designed to reduce risk for the EBRD’s partner financial institutions and to address financing gaps for MSMEs.

    In addition, a €3 million EBRD loan will be on-lent to households for energy-saving upgrades in homes. Eligible borrowers can receive up to 20 per cent cashback from the EU on successful completion of their project. Technical assistance, funded by Japan and the EU, will support effective implementation.

    This financing is part of the EBRD’s Green Economy Financing Facility (GEFF) for the Western Balkans, which has already helped over 22,000 households improve their energy efficiency. The programme also supports housing associations and construction firms developing high-performance residential buildings.

    Stela Melnic, EBRD Head of Bosnia and Herzegovina, said: “This partnership with Raiffeisen Bank, supported by the European Union, marks a significant milestone in our efforts to expand access to finance for underserved businesses in Bosnia and Herzegovina. By sharing risk and combining innovative financial instruments with targeted technical assistance, we are enabling more SMEs and households to invest in their future, whether through business growth or energy-efficient home upgrades. This is the kind of inclusive and green financing the EBRD is proud to champion across the Western Balkans.”

    Luigi Soreca, Head of the Delegation of the European Union to Bosnia and Herzegovina, and European Union Special Representative, said: “The signing of these two agreements is yet another example of the European Union’s commitment to providing new opportunities for SMEs across Bosnia and Herzegovina and improving the lives of its citizens. By improving access to finance, especially for businesses outside big cities, and supporting households in making their homes more energy-efficient, we are helping businesses grow and compete, and citizens live better. These initiatives also play an important role in the EU Growth Plan for the Western Balkans by driving green and digital transformation and strengthening the resilience of the private sector. Together, we are laying the foundation for a more sustainable and prosperous future for all citizens of Bosnia and Herzegovina.”.

    Rainer Schnabl, CEO of Raiffeisen Bank Bosnia and Herzegovina, said: “We are proud to be the first bank in Bosnia and Herzegovina to join the EBRD’s portfolio risk sharing programme. This cooperation enables us to expand lending to small and medium-sized enterprises, especially those led by young people and women, and to reach regions beyond the main urban centres. At the same time, through the Green Economy Financing Facility, we are supporting households that invest in energy-efficient solutions, helping to lower costs and contribute to a more sustainable future. As Raiffeisen Bank marks 25 years of being a good neighbour in Bosnia and Herzegovina, this initiative reflects our longstanding commitment to fostering entrepreneurship, competitiveness and the green transition of country’s economy.”

    The EBRD has invested more than €3.4 billion in 252 projects in Bosnia and Herzegovina since it began operating there in 1996. The Bank’s strategic priorities in the country are to promote the green economy, support the competitive development of the private sector and foster regional integration.

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  • The Estée Lauder Companies’ Oevel Manufacturing & Fulfillment Campus Celebrates 60 Years of Excellence and Innovation

    The Estée Lauder Companies’ Oevel Manufacturing & Fulfillment Campus Celebrates 60 Years of Excellence and Innovation

    OEVEL, Belgium–(BUSINESS WIRE)–
    The Estée Lauder Companies Inc. (NYSE:EL), today celebrated the sixtieth anniversary of its Manufacturing & Fulfillment Campus in Oevel, Belgium. Since its opening in 1965, the Oevel Campus has developed into a state-of-the-art manufacturing, fulfillment and biotech hub. Today the campus serves as a cornerstone of the company’s global value chain and is one of its largest manufacturing facilities by volume, annually producing over 100 million prestige beauty products, which are then shipped to more than 100 countries.

    This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251016330616/en/

    The Estée Lauder Companies celebrates 60th anniversary of its Manufacturing & Fulfillment Campus in Oevel, Belgium

    “Nearly sixty years ago, my grandparents, Estée and Joseph Lauder, laid the cornerstone of our first facility here in Oevel, establishing what would become a vital part of our global operations,” said William P. Lauder, Chair, Board of Directors, The Estée Lauder Companies. “From those early days, our Oevel Campus has evolved into a vibrant community and one of our most advanced centers for manufacturing and innovation. It reflects and embodies the visionary spirit of my grandmother, Mrs. Estée Lauder, as well as who we are as a company. This anniversary is both a celebration of our people and a tribute to the enduring partnerships that have shaped The Estée Lauder Companies’ legacy in Europe.”

    The celebration brought together hundreds of the Oevel Campus employees, Belgian government officials, media, and leadership from across The Estée Lauder Companies for a day of reflection and recognition. Guests explored a heritage exhibit, toured the manufacturing plant, and unveiled a commemorative sixtieth-anniversary mural.

    “The evolution of our Oevel Campus is a powerful reflection of how The Estée Lauder Companies honors its heritage while moving boldly into the future,” said Stéphane de La Faverie, President and Chief Executive Officer. “As one of our most advanced and sustainable manufacturing sites, our campus here exemplifies how we are reimagining beauty through innovation, quality, and responsibility – driven every day by the passion and expertise of our people.”

    “The Estée Lauder Companies’ site in Belgium has become a global benchmark in innovation, sustainability and beauty,” said Matthias van Diepenaele, President of Flanders. “Flanders is proud of this long-term partnership, which creates economic added value, but also demonstrates confidence in our people, our expertise and our future. Many congratulations to the company, its employees and the Lauder family.”

    The Oevel Campus’s transformation over six decades reflects The Estée Lauder Companies’ strategic investments in technology, sustainability, and talent. Today, the campus spans more than 100,000 square meters across multiple buildings, having grown fivefold from its original footprint. The site now includes a cutting-edge BioTech Hub in nearby Olen, where scientists produce bio-based raw materials using fermentation and biotechnology, advancing The Estée Lauder Companies’ commitment to sustainability and innovation. The Oevel Campus has evolved from the original ‘Lauder Blue Plant’ – inspired by the packaging used at the time – into a future-ready campus that supports more than twenty brands. The facility enables rapid new product launches and personalized manufacturing, with advanced technologies and AI integrated throughout.

    As part of The Estée Lauder Companies’ value chain regionalization strategy, approximately 70% of products sold in Europe are produced within the region, reducing long-haul transport needs and supporting local economies. The Oevel Campus’s growth and transformation exemplify ELC’s focus on operational excellence, transformative innovation, and its enduring commitment to Belgium and Europe.

    Cautionary Note Regarding Forward-Looking Statements

    Statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include those in the various quotations. Although the Company believes that its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, actual results may differ materially from the Company’s expectations. Factors that could cause actual results to differ from expectations include the ability to successfully implement the Company’s strategy, including Beauty Reimagined and the profit recovery and growth plan; successfully transition its leadership; and those other factors described in the Company’s filings with the Securities and Exchange Commission, including its most recent filings with the Securities and Exchange Commission. The Company assumes no responsibility to update forward-looking statements made herein or otherwise.

    About The Estée Lauder Companies

    The Estée Lauder Companies Inc. is one of the world’s leading manufacturers, marketers, and sellers of quality skin care, makeup, fragrance, and hair care products, and is a steward of luxury and prestige brands globally. The company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, Dr.Jart+, the DECIEM family of brands, including The Ordinary and NIOD, and BALMAIN Beauty.

    ELC-C

    Media Relations:

    Maud Smith

    [email protected]

    Investor Relations:

    Rainey Mancini

    [email protected]

    Source: The Estée Lauder Companies Inc.

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  • Sebia and Warburg Pincus partner to drive innovation in diagnostics

    Sebia and Warburg Pincus partner to drive innovation in diagnostics

    • Warburg Pincus enters exclusive negotiations to acquire a significant minority stake in Sebia
    • Existing shareholders CVC Funds, La Caisse (formerly CDPQ) and Téthys Invest to remain significant investors

    Sebia, a global leader in specialty diagnostics, and Warburg Pincus, the pioneer of private equity global growth investing, today announced that Warburg Pincus has entered into exclusive negotiations for the potential acquisition of a significant minority stake in Sebia.  

    Sebia is a global specialized In Vitro Diagnostics player providing equipment and reagents for the screening and monitoring of various diseases, primarily in the areas of Oncology (Multiple Myeloma), Diabetes, Hemoglobinopathy, Autoimmune and Infectious diseases and other rare pathologies. The company serves customers in more than 140 countries through a broad installed base and a portfolio of proprietary reagents and instruments.

    Jean-Marc Chermette, Chief Executive Officer of Sebia, said: “Our mission is to provide powerful tools that translate what is happening in a patient’s body into a readable and interpretable language. We welcome Warburg Pincus as a new partner alongside our existing investor base. Their global healthcare expertise and growth orientation will help accelerate Sebia’s strategy while maintaining our commitment to scientific rigor, product quality and patient impact, helping us deliver for our customers and partners.”

    TJ Carella, Managing Director and Global Head of Healthcare, and Jake Strauss, Managing Director and Head of European Healthcare at Warburg Pincus, said: “Sebia is a best-in-class diagnostics platform with differentiated technology and a strong track record of delivering innovative products and solutions to customers and patients worldwide. We are excited to partner with Jean-Marc, the management team, and existing shareholders to support the company’s next phase of growth, including continued advances in diagnostic modalities, scientific excellence and manufacturing capabilities.”

    The terms of the proposed transaction are not disclosed. Following completion, Sebia will continue to operate as an independent company from its headquarters in Lisses, France.

    Execution of the proposed transaction remains subject to completion of applicable employee consultation processes, and receipt of customary regulatory approvals. Closing is expected to occur no earlier than Q1 2026.

     

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  • Pinterest rolls out new tools to give users more control over GenAI content – Pinterest Newsroom

    Pinterest rolls out new tools to give users more control over GenAI content – Pinterest Newsroom

    1. Pinterest rolls out new tools to give users more control over GenAI content  Pinterest Newsroom
    2. Pinterest will let you ‘dial down’ AI slop in your feeds  Engadget
    3. Pinterest lets users filter out AI-generated content after calls for change  Yahoo
    4. How to filter out AI on Pinterest  Mashable India
    5. AI slop: fighting back one click at a time  The Express Tribune

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  • Amazon One Medical Pay-per-visit offers treatment for children

    Amazon One Medical Pay-per-visit offers treatment for children

    Amazon One Medical Pay-per-visit currently focuses on treating pink eye, head lice, and common kids’ skin issues, including eczema, contact dermatitis, impetigo, fungal rashes (e.g., ringworm), bug bites, hand-foot-and-mouth disease, fifth disease, roseola, poison ivy, and diaper rash. Parents can also renew their kids’ EpiPen and asthma medications.

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  • Newsroom » Carlsberg Asia and Grab Celebrate Year Two of Partnership Championing Responsible Choices Across Asia « Carlsberg Group

    Newsroom » Carlsberg Asia and Grab Celebrate Year Two of Partnership Championing Responsible Choices Across Asia « Carlsberg Group

    Carlsberg Asia and Grab marked the second year of their partnership this September, a collaboration that’s transforming how consumers across Southeast Asia enjoy beer responsibly.

    Launched in late 2024, the partnership connects Carlsberg’s premium beer experiences with Grab’s vast digital ecosystem, from mobility and food delivery to dine-out offers, embedding responsible drinking messages into everyday moments.

    This strategic partnership has already yielded significant results. From January to August 2025, there has been a 37% increase in average new Carlsberg consumers per month within the Grab ecosystem (vs. same period in 2024), 22% year-on-year growth in user numbers and average uplift of 49% in Carlsberg sales, marking a 35% year-on-year increase in overall sales.

    Anchored in Carlsberg’s long-standing partnership with Liverpool F.C., the longest-running partnership in Premier League history since 1992, the collaboration has turned key football occasions into moments that combine celebration and moderation. In Singapore, the campaign culminated in September with the ‘Champion EPL Season with Carlsberg’ event, featuring Liverpool legend Robbie Fowler. Fowler toured Grab’s headquarters, rode through Orchard Road and the Civic District on an open-top bus, and met with fans, media, and VIP guests, celebrating the partnership’s success and reinforcing the message of responsible enjoyment.

    Events across Malaysia, Cambodia, Myanmar, and Singapore brought fans together both online and offline, while in-app activations on Grab offered prizes like match tickets, retro jerseys, and ride discounts promoting safe mobility. Following these successes, the next phase of the campaign will roll out in Vietnam later in 2025.

    “Our partnership with Grab is a powerful expression of Carlsberg’s Accelerate SAIL strategy in action,” says Arindam Varanasi, Commercial VP, Carlsberg Asia. “By combining Carlsberg’s brand strength with Grab’s reach, we’re shaping a culture where enjoyment and mindful consumption go hand in hand.” Through Grab’s ecosystem, including GrabFood, GrabMart, Dine Out, and mobility services, Carlsberg can reach consumers across multiple occasions, linking celebration with safety and convenience.

    The partnership will continue to expand in Vietnam and beyond later this year, building on its success to make responsible drinking a natural part of how people connect, celebrate, and enjoy life across Asia.

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  • Advanced Micro Devices, Inc. (AMD)

    Advanced Micro Devices, Inc. (AMD)





    SANTA CLARA, Calif., Oct. 16, 2025 (GLOBE NEWSWIRE) — AMD (NASDAQ: AMD) announced today that company executives will participate in the following events for the financial community:

    • Dr. Lisa Su, chair and chief executive officer, will present at UBS’s 2025 Global Technology and AI Conference on Wednesday, Dec. 3, 2025.
    • Jean Hu, executive vice president, chief financial officer and treasurer, will present at Barclay’s 2025 Global Technology Conference on Wednesday, Dec. 10, 2025.

    Interested parties are invited to listen to the live webcasts and replays via the AMD Investor Relations website ir.amd.com.

    About AMD
    For more than 55 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn, Facebook and X pages.

    AMD, the AMD Arrow logo and the combination thereof are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and may be trademarks of their respective owners.

    Contact
    Phil Hughes
    AMD Communications
    512-865-9697
    phil.hughes@amd.com

    Liz Stine
    AMD Investor Relations
    (720) 652-3965
    liz.stine@amd.com

    Source: Advanced Micro Devices, Inc.



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  • Aker BP and Halliburton execute first umbilical-less tubing hanger installation

    Aker BP and Halliburton execute first umbilical-less tubing hanger installation

    Houston, TXOctober 16, 2025 – Halliburton (NYSE: HAL), in collaboration with Aker BP, executed the first operation using the Enhanced Remote Operated Control System (eROCS) and Optime Tubing Hanger Orientation System (OTHOS) in the Norwegian continental shelf. The achievement sets a new direction for Halliburton’s subsea operations, with broader access to digital control and umbilical-less solutions in offshore regions. 

    The operation marked a breakthrough in subsea control and completions. The use of digital hydraulic control and the OTHOS allowed the precise installation and orientation of the vertical Christmas Tree tubing hanger without umbilicals, conventional tubing hanger orientation tools, or standard blowout preventer alignment equipment. The approach simplified planning and interface requirements, reduced operational complexity, lowered risks and costs, and increased rig flexibility for Aker BP. 

    This milestone moves the entire subsea industry forward and opens up new possibilities once out of reach. The successful installation reflects years of effort, bold ideas, and close teamwork with Aker BP. eROCS offers customers a solution for umbilical-less tubing hanger installation in every major offshore region and creates the opportunity to maximize value for our customers.

     Josh Sears, senior vice president, Halliburton Drilling and Evaluation

     ”At Aker BP, we are committed to innovation that creates safer, more efficient, and more sustainable operations,” said Mads Rødsjø, vice president, Drilling and Wells, Aker BP. “The successful eROCS operation is a testament to this ambition. Together with Halliburton, we have taken a major step towards digital subsea control—one that will benefit not only our projects, but the wider industry.”

    With eROCS now field-validated, operators gain a new tool to reduce complexity and cost with improved control in offshore environments. This successful installation establishes eROCS as a proven solution for subsea well operations and signals a shift toward digital control within offshore markets.

    About Halliburton

    Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Connect with us on LinkedIn, YouTube, Instagram, and Facebook.

    For Investors:
    David Coleman
    investors@halliburton.com
    281-871-2688

    For Media Relations:
    Alexandra Franceschi
    PR@halliburton.com
    281-871-3602


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  • IBM and Mission 44 Join Forces to Fast-Track AI Skills

    IBM and Mission 44 Join Forces to Fast-Track AI Skills

    New multi-year collaboration launches in Austin ahead of the 2025 Formula 1 United States Grand Prix to promote STEM career pathways with local students

    Oct 16, 2025

    AUSTIN, Texas, Oct. 16, 2025 /PRNewswire/ — IBM (NYSE: IBM) today unveiled a new multi-year agreement with Mission 44, the global charitable foundation of Lewis Hamilton, seven-time Formula 1 (F1) World Champion and Scuderia Ferrari HP driver. The collaboration will leverage IBM’s award-winning free education program, IBM SkillsBuild, to create powerful learning experiences for students and spark interest in STEM — including motorsports — while building in-demand technical and professional skills such as AI, cloud computing, data analytics and cybersecurity.

    Underscoring the increased societal demand for AI literacy, this collaboration further unites IBM’s commitment to provide 30 million people with new skills by 2030. New research from the AI Workforce Consortium found that AI-specific roles have become key drivers of growth across G7 countries, revealing that AI is now a foundational capability, not a niche specialization. The IBM SkillsBuild program and learning platform supports faculty, adult learners, high school and university students to develop valuable new skills in technology and AI to enhance access to career opportunities.

    “Talent is everywhere, but not everyone is afforded the opportunity for career growth. That’s why Mission 44 is teaming up with IBM SkillsBuild to unlock new learning pathways in technology for young people everywhere,” said Mission 44 Founder Lewis Hamilton. “We’re on a mission to ensure young people get the chance to thrive, so that everyone can fulfill their potential.”

    In collaboration with the IBM SkillsBuild team, Mission 44 will host multiple activations at F1 race events each year, delivering immersive, hands-on learning opportunities to help students develop skills needed for future-looking jobs within F1 international geographies. The collaboration will support Mission 44’s strategy to increase inclusivity in STEM and create pathways for young people in tech. Beyond race weekends, Mission 44 will work with IBM to develop F1-themed content for year-round use in the IBM SkillsBuild program and expand high-quality education through Mission 44’s global partner network, fostering deeper engagement to scale impact.

    “We’re investing in the technical skills that will shape future workforces, fuel open innovation and drive economic growth,” said Justina Nixon-Saintil, Vice President of Corporate Social Responsibility and Chief Impact Officer, IBM. “The partnership between IBM SkillsBuild and Mission 44 brings together our collective strengths; expanding access to vital skills and tools, and enabling students to succeed in the AI economy.”

    “At Mission 44, we know collaboration is key to creating lasting impact, and our partnership with IBM is a powerful example of that,” said Jason Arthur, CEO, Mission 44. “By uniting with IBM SkillsBuild we have the opportunity to drive meaningful impact for young people globally, raising aspirations and achievement, and unlocking access to exciting careers in STEM and motorsport.”

    The first event will take place at Circuit of the Americas (COTA) in Austin, Texas, ahead of the 2025 Formula 1 United States Grand Prix to support Mission 44 and its network of grantees, including local Austin nonprofit Girlstart. Students will take part in a Design Your Own Pit Crew simulation and an exclusive tour of the Scuderia Ferrari HP Team garage and F1 paddock.

    About Mission 44

    Founded by seven-time Formula One World Champion Sir Lewis Hamilton, Mission 44 is a global charitable foundation driving change so that every young person can thrive in school and access great careers in STEM. To learn more, visit www.mission44.org.

    About IBM

    IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.

    Media Contacts:

    Kristen Ruiz

    IBM Corporate Communications

    Kristen.Ruiz@ibm.com

    IBM Corporation logo. (PRNewsfoto/IBM Corporation)

    SOURCE IBM

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