Bloomberg Business

Alibaba Group Holding Ltd.’s Daraz Group is cutting 11% of jobs to weather a slump in online commerce, joining a growing roster of tech names retrenching to weather a global downturn.

Sugar prices have surged despite a looming global oversupply.

New Zealand’s new Prime Minister Chris Hipkins said he won’t back away from criticizing China where necessary, as the new leader works to balance economic and diplomatic relations with his largest trading partner.

Days before German Chancellor Olaf Scholz announced that Germany would ship 14 Leopard 2 tanks to Ukraine, French President Emmanuel Macron surprised allies by declaring that France would contribute 18 Caesar cannons and 40 AMX10 armored vehicles, and teased that he was still considering whether to send the embattled country a squadron of more powerful Leclerc tanks.

Investors have lost faith in South Africa’s government and have halted investment despite a wealth of opportunities, the head of the country’s biggest employer in the crucial mining industry said.

Signature Bank was accused in a lawsuit by an investment firm of facilitating the FTX collapse by allowing the now-defunct crypto exchange to commingle customer accounts with its blockchain network.

Transurban Group Chief Executive Officer Scott Charlton said the company wants to buy a stake in EastLink, a toll road in southeast Melbourne, as the infrastructure owner seeks to broaden its portfolio.

A sparsely populated part of China’s Inner Mongolia region is planning a $25 billion push into clean energy.

Philippine inflation quickened to a fresh 14-year high, defying all expectations including that of the central bank’s and spurring bets of sustained policy rate increases to quell broadening price pressure.

The squabble between crypto billionaires Cameron and Tyler Winklevoss and Digital Currency Group’s Barry Silbert appears to be over, paving the way for a resolution of one of the industry’s biggest bankruptcies.