H&M, the world’s second-largest fashion retailer, announced a cost-cutting drive worth 2 billion Swedish crowns ($177 million) on Thursday after reporting lower-than-expected profits. H&M generates the majority of its revenues from Europe and the region has been impacted by record energy prices because of the Ukraine conflict,  while high inflation is also negatively impacting consumer confidence, and consequently households are being…

As Beijing and Washington have seemed nearer to trying to resolve an audit disagreement, the Nasdaq expects more Chinese companies to list on the US exchange in the coming months. “We still have a pretty strong pipeline … as things are getting to become a little more clear in that market. We think that that…

The first known China-based influence operation that targeted American users with political content before the midterm elections in November has been thwarted, according to Meta Platforms. In a report summarizing its findings, Meta stated that while the network was small and did not garner much of a following, it maintained fake accounts across Twitter, Facebook,…

The news that FTX, the bitcoin exchange founded by billionaire Sam Bankman-Fried, is set to acquire the company’s assets after winning a bankruptcy auction may provide some comfort to customers of struggling cryptocurrency lender Voyager Digital. The companies said in a statement late Monday that FTX’s U.S. subsidiary was chosen as the highest bidder for…

The British manufacturer of the orange carbonated beverage Irn Bru warned on Tuesday that rising costs and consumers’ reduced spending would hurt its second-half margins. A.G. Barr imports raw materials like mangoes and aluminum, but CEO Roger White dismissed any immediate or direct effects from the volatile British markets’ depreciating pound. “We will just see…

Small video sharing platform TikTok could be hit with a £27 million fine, over alegations of not being able to protect children’s privacy while they use the platform. According to the UK’s Information Commissioner’s Office (ICO), the video-sharing website may have processed underage users’ data without getting their consent. The watchdog stated that the breach…