Business

Microsoft has confirmed plans to “eliminate” up to 18,000 jobs worldwide as part of efforts to simplify the company’s operations and cut costs.The announcement was made in an email to staff entitled ‘Starting to Evolve Our Organization and Culture’...

Markets watchdog the Competition and Markets Authority (CMA) has recommended a full competition inquiry into banks.The provisional decision recommends a full-scale inquiry into the banking sector including the provision of current accounts and business lending. The process will start with...

proposed class-action lawsuit contends Subaru of America failed to tell consumers about an oil-consumption problem in its most popular models.The suit claims the vehicles “prematurely burn off and/or consume abnormal and excessive amounts of engine oil” and alleges Cherry...

Shares in Malaysia Airlines closed down 11% in Malaysia following the crash of flight MH17 in Ukraine on route from Amsterdam to Kuala Lumpur.Some Asian stock markets also ended the day lower on fears the crash may intensify political...

Australia’s Senate has voted to repeal the carbon tax, a levy on the biggest polluters passed by the previous Labor government.Prime Minister Tony Abbott, whose Liberal-National coalition beat Labor in an election last year, had made the repeal a...

Online retailer eBay reported profits of $676m (£395m) during the period from March to June, beating analyst expectations.Shares in the company were up by more than 1.5% in trading after the US stock market closed. Although revenue grew by 13%...

Austria is in line with the current economic trend in Europe, according to several economic indicators made public in Austria on Friday. Analysis of the results of the indicators show that at the moment, there is a moderate decrease, almost...

Farmers and drivers are worried about winter returning to Austria. As fields are covered in snow, farmers cannot plough the fields. This will lead to problems with summer crops. A Siberian cold front is sweeping over many parts of Europe....