Category: 3. Business

  • US futures ease with investors' focus on data, Alphabet shines – Reuters

    1. US futures ease with investors’ focus on data, Alphabet shines  Reuters
    2. Dow Jones & Nasdaq 100 Edge Lower Ahead of Key US Data, Fed Talks  FXEmpire
    3. US futures cut gains in the run up to the Wall Street open later  TradingView
    4. S&P 500 Forecast: SPX steadies, tech still struggles  FOREX.com
    5. Fresh U.S. data ahead; Fed rate path; Dell to report – what’s moving markets  Investing.com

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  • Peak pizza? Domino’s boss ousted after launching shift towards chicken | Domino’s Pizza

    Peak pizza? Domino’s boss ousted after launching shift towards chicken | Domino’s Pizza

    The boss of Domino’s Pizza Group who suggested the UK may have reached peak pizza as he expanded the chain into fried chicken has been ousted after tensions with its board.

    Andrew Rennie is leaving after just two years at the helm, and will be replaced on an interim basis by the company’s chief operating officer, Nicola Frampton, while Domino’s searches for a new leader.

    Rennie, who worked for Domino’s for more than two decades, has sought to shift Britain’s biggest pizza delivery company towards fried chicken, telling the Financial Times earlier this month there was not “massive growth” left in the UK’s pizza market. He said chicken was the fastest-growing protein in the world.

    It is understood that there was friction between Rennie and the board over his focus and approach to the business, although Domino’s statement said he was stepping down “by mutual agreement”.

    In September, Domino’s launched its Chick ’N’ Dip brand – which Rennie described as a “bold new chapter” for the group – and is trialling it in 210 outlets in the north-west of England and Northern Ireland.

    While the company is still going to roll it out across its nearly 1,400 branches next year as planned, it sees fried chicken as complementary to its core pizza business.

    Ian Bull, the Domino’s chair, said: “The board believes that there are a number of opportunities to drive further growth and value creation in Domino’s core business. We are focused on identifying the right chief executive to lead the disciplined execution of that growth strategy.”

    Earlier this month, Domino’s, which has 13 million customers in the UK and Ireland, said orders dipped by 1.5% in the third quarter. In August, it warned that the takeaway market had “become tougher” as it blamed weaker consumer confidence in the run-up to Wednesday’s budget and rising wage costs for weaker-than-expected sales and a 15% drop in half-year profits.

    Other pizza operators are also struggling. Pizza Hut announced the closure of 68 restaurants a month ago, after the company behind its UK venues fell into administration.

    Trying to keep up with consumer trends towards healthier eating, Domino’s has launched lower-calorie products, such as its Thin & Crispy range of pizzas below 400 calories as well as plant-based and gluten-free pizzas. A large pepperoni pizza has 2,311 calories. A large cheese and tomato pizza has 2,171, while a small has 909 calories.

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    Frampton has been with Domino’s since 2021, and previously worked for the gambling company William Hill. It is thought that she does not want to take on the chief executive role permanently.

    She said: “We have a number of ongoing growth and performance initiatives that we will be focused on executing at pace.”

    She said these included further work on the company’s supply chain and product development, and its loyalty scheme.

    Domino’s is also without a permanent chief financial officer until 16 March, when Andy Andrea joins from the Irish cider and beer maker C&D Group. Until then, Richard Snow serves as interim finance chief.

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  • Alibaba shares rise as AI drives cloud sales jump

    Alibaba shares rise as AI drives cloud sales jump

    Alibaba showcase its AI technology application achievements from Alibaba Cloud at the World Artificial Intelligence Conference in Shanghai, China on July 26, 2025.

    Cfoto | Future Publishing | Getty Images

    Alibaba delivered better than expected revenue in its fiscal second quarter as sales in its key cloud computing division accelerated.

    Here’s how the company did in its fiscal second quarter ended Sept. 30 versus LSEG estimates:

    • Revenue: 247.8 billion Chinese yuan ($34.8 billion) versus 242.65 billion yuan.

    Revenue rose 5% year-on-year.

    Alibaba’s New York-listed shares were 4% higher in premarket trade.

    Investors are focused on Alibaba’s cloud computing division which books its revenue related to artificial intelligence. Over the past few quarters, Alibaba’s cloud revenue growth has accelerated.

    Alibaba reported a 34% year-on-year rise in cloud computing revenue to 39.8 billion yuan versus expectations of 37.9 billion yuan. That growth rate was faster than the 26% notched in the June quarter.

    The Chinese tech giant said its investments in AI were helping its cloud unit.

    “Robust AI demand further accelerated our Cloud Intelligence Group business, with revenue up 34% and AI-related product revenue achieving triple-digit year-over-year growth for the ninth consecutive quarter,” CEO Eddie Wu said in an earnings statement on Tuesday.

    In September, the company said it plans to increase spending on AI models and infrastructure development, on top of the 380 billion yuan ($53 billion) over three years it announced in February. Alibaba said on Tuesday it has spent around 120 billion yuan in capital expenditure toward AI and cloud infrastructure over the past four quarters.

    Earnings before interest, taxes, and amortization (EBITA), a measure of profitability, increased by 35% to 3.6 billion yuan for its cloud division.

    Alibaba has emerged as one of China’s leading AI players. On Monday, Alibaba said its Qwen app, the Chinese giant’s rival to OpenAI’s ChatGPT, surpassed 10 million downloads within the first week of its public launch. The app is powered by Alibaba’s Qwen artificial intelligence models.

    Meanwhile, the company has been investing heavily in the cut-throat instant commerce market. This a product offering from Alibaba and some of its Chinese e-commerce rivals that promises super-fast delivery on certain items.

    Investment in this new segment has weighed on the profitability of Alibaba’s overall business even as cloud computing remains strong.

    This is a breaking news story. Please refresh for updates.

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  • Secretary-General of ASEAN meets with the Chargé d’Affaires ad interim of the Permanent Mission of Thailand to ASEAN

    Secretary-General of ASEAN meets with the Chargé d’Affaires ad interim of the Permanent Mission of Thailand to ASEAN

    ASEAN shall develop friendly relations and mutually beneficial dialogues, cooperation and partnerships with countries and sub-regional, regional and international organisations and institutions. This includes external partners, ASEAN entities, human rights bodies, non-ASEAN Member States Ambassadors to ASEAN, ASEAN committees in third countries and international organisations, as well as international / regional organisations.

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  • UK can create 5,400 jobs if it stops plastic waste exports, report finds | Plastics

    UK can create 5,400 jobs if it stops plastic waste exports, report finds | Plastics

    The UK could end its reliance on exporting plastic waste by 2030 to support the creation of 5,400 new jobs and take responsibility for the environmental impact of its waste, according to research.

    The report said up to 15 new recycling facilities could be built by the end of the decade, attracting more than £800m of private investment. The increase in capacity would help generate almost £900m of economic value every year; providing at least £100m of new tax revenues annually.

    The report by Hybrid Economics comes as Britain’s plastic exports rose by 5% in 2024 to nearly 600,000 tonnes of waste.

    Exporting plastic creates environmental problems for many countries that receive it, as they do not have the ability to recycle it. It also, the report argues, removes valuable feedstock for a British recycling industry.

    Campaigners want the loophole that makes it cheaper to export plastic waste rather than recycle it in the UK, closed.

    Exports have soared in the first part of this year to Indonesia in particular – a country struggling with an environmental crisis from plastic pollution – amounting to more than 24,000 tonnes.

    The report said that by exporting the unprocessed plastic waste it produces, the UK is evading its responsibility to deal with its own waste and was denying itself an economic opportunity.

    The Guardian revealed last month that, in the past two years, 21 plastic recycling and processing factories across the UK have shut down owing to the scale of exports, the cheap price of virgin plastic and an influx of cheap products from Asia.

    Neville Hill, partner at Hybrid Economics, which produced the report, said the UK was only using half of its potential for recycling plastic waste. He said: “Ending exports of unprocessed plastic packaging waste by 2030 would allow the UK to take control of its environmental responsibilities and seize a clear economic opportunity.

    “Our analysis shows the sector can expand significantly with no call on public funds, provided government sets the right framework.”

    The way payments are made up at present incentivises the export of plastic waste, rather than encouraging businesses to keep it in the UK to be recycled.

    James McLeary, the managing director of Biffa Polymers, which commissioned the report, said the company had recycled 10bn plastic HDPE milk bottles in the last 20 years. He described this as a circular economy success story.

    “The lesson is simple. When the right conditions are in place, UK recycling grows, investment follows and the environmental and economic benefits build year after year. The UK can replicate that success across all plastic packaging and take responsibility for processing its own waste onshore.”

    The report is calling for an increase in the plastic packaging tax, which is imposed on producers who fail to include at least 30% of recycled plastic in their products, to 50% and a total phasing out of exports of unprocessed plastic packaging waste.

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  • Benoy appointed lead urban designer and commercial strategist for SAR 1 billion Riyadh East scheme

    Benoy appointed lead urban designer and commercial strategist for SAR 1 billion Riyadh East scheme

    Dar wa Emaar has appointed Benoy as lead urban designer and commercial strategist for Riyadh East, a SAR 1 billion, mixed-use neighbourhood spanning 116 hectares on the eastern edge of Riyadh. 

    The partnership was marked by the signing of a strategic agreement between Dar wa Emaar and Benoy last week at Cityscape Global.

    Developed by Benoy’s Commercial Strategy and Masterplanning & Urban Design teams, Riyadh East offers a welcoming new neighbourhood shaped around contemporary living and generous climate-responsive green corridors that bring nature into daily life. Its mix of homes, community facilities, learning spaces, pocket parks and neighbourhood hubs creates a commercially viable, walkable community for families and young professionals alike.

    Ruchi Chakravarty, Director, Masterplanning & Urban Design, said: Riyadh East sets a bold new standard for Saudi urbanism, where sustainability and social value lead the design. It represents an ambitious yet grounded vision that elevates Riyadh’s long-term growth and defines the future of high-quality neighbourhoods in the Kingdom.”

    Amr Elfeky, Executive Director, Development & Investment at Dar wa Emaar commented: Our partnership with Benoy marks a pivotal step in shaping Riyadh East into a next-generation community. Benoy’s global design expertise, coupled with their deep understanding of how people live and interact with spaces, aligns seamlessly with our vision for a human-centered, future-ready masterplan. Together, we are setting a new benchmark for community development in the Kingdom.”

    Strategically positioned along the Riyadh – Dammam corridor, Riyadh East will be anchored by a curated mix of exciting new amenities, all designed to welcome passing visitors and drive commercial investment. 

    Andrew McVicker, Director, Commercial Strategy, said: Riyadh East will redefine dynamic, contemporary community living. Our approach ensures a vibrant, multi-use destination designed for long-term economic sustainability and enduring value.”

    A continuous green spine forms the ecological and social backbone of the district, promoting active mobility, biodiversity, and climate resilience while uniting the community through a shared landscape. District neighbourhoods are conceived as walkable clusters, each with its own architectural and landscape identity. This mosaic approach supports inclusivity, housing diversity, and flexible, phased growth, allowing the district to evolve with lasting character.

    Aligned with the Mostadam framework and the ambitions of Saudi Vision 2030, Benoy’s vision for Riyadh East demonstrates how a commitment to integrated design and commercial insight can deliver a district that is both highly liveable and economically robust. 

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  • NIO Inc. Reports Unaudited Third Quarter 2025 Financial Results – NIO – Home

    1. NIO Inc. Reports Unaudited Third Quarter 2025 Financial Results  NIO – Home
    2. NIO’s Q3 revenue climbs 16.7% to $3.1B  breakingthenews.net
    3. Nio Narrows Losses in Q3, Cuts Q4 Guidance Risking Profitability Target  eletric-vehicles.com
    4. (NIO) Nio Expects Q4 Total Revenue Range 32.76B Renminbi – 34.04B Renminbi, vs. FactSet Est of 35.23B Renminbi  MarketScreener
    5. Niu Technologies Reports Robust Q3 2025 Financial Results with Strong Growth in China  TipRanks

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  • European shares muted as markets turn cautious ahead of US data – Reuters

    1. European shares muted as markets turn cautious ahead of US data  Reuters
    2. European stocks open slightly higher, tracking Wall Street rebound  CNBC
    3. DE40: European tech and defence stocks sell-off  XTB.com
    4. European Shares Seen Lower As Investors Await US Data  Nasdaq
    5. European Stocks Set to Drop Following Wall Street Reversal  Bloomberg.com

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  • COP30: African Development Bank Group Backs Increased Access to Climate Finance for Electricity Grids and Energy Storage – African Development Bank Group

    1. COP30: African Development Bank Group Backs Increased Access to Climate Finance for Electricity Grids and Energy Storage  African Development Bank Group
    2. Africa secures $57mln for a just energy transition, Mission 300  ZAWYA
    3. AfDB Secures Nearly €50 Million For African Energy Access At COP30  News Ghana
    4. COP30: AfDB’s SEFA mobilises nearly EUR50 million in new commitments for just energy transition and Mission 300  CediRates

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  • BASF Coatings sets innovation benchmark with Lean Lab in Wuerzburg

    • New laboratory concept drives innovative, customer-centric product development
    • Optimized material flow delivers high CO₂ savings  

    With a new laboratory at its site in Wuerzburg, Germany, BASF Coatings reinforces its position as a pioneer in digitalization, occupational safety, efficiency, and sustainability. The innovative “Lean Lab” concept focuses on developing and producing waterborne basecoats for customers in the European automotive industry.  

    “The Lean Lab in Wuerzburg is part of our global rollout. With this infrastructure, we are laying the foundation for modern, digitalized, and flexible product development, reaffirming our commitment to driving innovation and sustainability consistently across all regions,” emphasizes Dr. Ralf Otte, Vice President, Global Technology, Automotive OEM Coatings at BASF Coatings. “I am very proud of our project team, who implemented the concept with great commitment within the planned timeframe.” 

    The Lean Lab concept is currently being introduced at additional BASF Coatings sites worldwide and adapted to specific local requirements. The strategy is based on clear specialization: wet work is handled in the process laboratory, the product laboratory focuses on intensive customer support and continuous product optimization, and the laboratory services organize the provision of raw materials and supplies. Accordingly, work is divided into three areas: process laboratory, product laboratory, and laboratory services.  

    All workstations are ergonomically designed and equipped with state-of-the-art IT infrastructure. Every process is fully digitally recorded and efficiency oriented. The laboratory’s central location, close to production, enables close interdisciplinary collaboration and ensures rapid implementation of innovations. 

    The Lean Lab already meets future EU requirements for raw material classification and occupational safety. It drives digitization and efficiency in product development, with a strong focus on sustainability: optimized material flow, direct logistics connections, and centralized space save 25.1 tons of CO₂ annually. Resource utilization is further improved through consumption-based material supply. 

    Customized laboratory software and an RFID-based warehouse system in the new laboratory ensure transparent processes and automated data collection. Warehouse management, including raw material ordering, is also fully digital. A modern working café fosters creativity, teamwork, and employee well-being. 

    The BASF Coatings team in Wuerzburg develops and produces waterborne basecoats for automotive OEM customers around the globe. The new laboratory concept further strengthens the site’s role as a key hub and attractive employer in the region. 
     

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