Financial injection saves challenger bank from collapse
Metro Bank, the UK challenger bank, has received a £925 million injection from Colombian billionaire Jaime Gilinski Bacal. This move has calmed fears about Metro Bank's financial instability, as its share price recently collapsed. The funding package includes £600 million for debt refinancing and a £325 million capital raise. Bacal has contributed £102 million to increase his stake in the bank. In addition, Metro Bank is currently in talks to sell part of its £3 billion mortgage book, a deal that is viewed as a defense against any takeover attempts.
LVMH results offer insights into China's recovery
Luxury group LVMH is set to release its latest results, which will provide valuable insights into China's recovery. As one of the largest luxury goods conglomerates, LVMH's performance in China is closely watched as an indicator of the country's economic progress.
Amazon increases pay for warehouse workers ahead of Christmas season
In preparation for the busy holiday season, Amazon has announced an increase in pay for its warehouse workers. This move comes as the company faces scrutiny over its treatment of employees and working conditions.
Claudia Goldin becomes first solo female winner of Nobel Prize in economics
Claudia Goldin has made history as the first solo female recipient of the Nobel Prize in economics. Her groundbreaking work on the gender pay gap has made significant contributions to the field and highlighted the need for greater gender equality.
INEOS makes its first appearance at Labour conference
INEOS, one of the world's largest chemical producers, has made its debut at the Labour conference. The company's presence at the event reflects its growing influence and interest in political matters.
Pothole-related breakdowns rise by 30% in two years
The AA has reported a significant increase in breakdowns caused by potholes over the past two years. This rise in call-outs for damaged roads highlights the deteriorating state of UK infrastructure, according to AA boss Jakob Pfaudler.
Unilever faces protests over Magnum sales in Russia
Unilever is facing protests for selling its popular ice cream brand, Magnums, in Russia. Ukrainian war veterans and bereaved family members have targeted the company's London headquarters, demanding a review of the sales. Unilever's new CEO, Hein Schumacher, has yet to make a decision on the matter.
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