Business

Colm McLoughlin, the Irishman who led Dubai Duty Free to become an airport retail giant. ADVERTISEMENT The Irishman who landed in the deserts of the United Arab Emirates and helped lead Dubai Duty Free into becoming an airport retail behemoth generating billions of dollars, has died. Colm McLoughlin was 81. McLoughlin ran Dubai Duty Free from 1983 until he retired …

Microsoft said that the new roles at its Dublin office will focus on cybersecurity and artificial intelligence (AI). ADVERTISEMENT Microsoft is to create 550 new roles within engineering and research and development at its Dublin office over the next three to four years. The new posts will focus on cybersecurity and artificial intelligence services which will then be offered to …

Market sentiment soured amid uncertainties surrounding next week’s US election, exerting pressure on stock markets. The euro strengthened due to rising inflation, while the US dollar weakened ahead of the upcoming non-farm payroll report. ADVERTISEMENT Global markets extended their losses for the week, with uncertainties surrounding the impending US presidential election. Major benchmarks across the US and Europe appear set …

The US election could significantly impact financial markets, influencing currencies, stocks, and commodities. Here are some potential market reactions to different election outcomes. ADVERTISEMENT With less than a week to go until the US presidential election, financial markets are anticipating a potential Trump victory. The term “Trump Trade” has gained popularity among investors as his proposed policies – including those …

US tech giant Apple saw sales in China extend a decline, while Amazon topped market expectations with strong guidance. ADVERTISEMENT Apple and Amazon have reported their September-quarter earnings with mixed results, shedding light on the intensifying race in artificial intelligence (AI) and challenges in China. Apple shares dipped 2% in after-hours trading due to ongoing weakness in China’s sales and …

The European Commission says it has fined the Israeli generic drug maker, Teva, more than €460m for improperly seeking to protect the patent for its multiple sclerosis drug and for disparaging a rival company’s development of a competing medicine. ADVERTISEMENT The European Commission said the pharmaceutical firm “misused the patent system to artificially extend patent protection” for its blockbuster MS …

Eurozone inflation hit 2% in October, exceeding forecasts and up from September’s 1.7%, driven by services and food prices. Germany witnessed unexpected price increases. The euro strengthened. ADVERTISEMENT Inflation in the eurozone accelerated in October, with the consumer price index reaching 2% year-over-year, surpassing economist predictions of 1.9% and marking an uptick from 1.7% in September, according to flash estimates …

The Spanish economy has shown robust growth in recent years, although experts question how long it will last. ADVERTISEMENT Spain’s economy grew 3.4% year-on-year in the period from July to September, according to new data from Eurostat out on Wednesday. That figure stands above growth rates seen in other nations, with the eurozone average coming in at 0.9%. One reason …

Europe’s second-largest car maker, Stellantis, reported that its net revenues slumped by 27% in its latest earnings update as it aims to slim down its inventory and launch new products. ADVERTISEMENT Troubled carmaker Stellantis reported net revenues of €33bn for the three months to 30 October, which equates to 27% less compared with last year’s €45bn. The company, which owns …

A key manufacturing index in China turned positive in October after months of contraction ADVERTISEMENT A closely watched survey on manufacturing in China has edged into positive territory after months of contraction, the government statistics agency said Thursday. The Purchasing Managers’ Index rose to 50.1. A reading above 50 indicates an improvement over the previous month. It was the first …