Bloomberg Business

SAP SE gained the most in eleven months after Europe’s biggest software company said the current backlog for its cloud services surged 19% and reaffirmed its annual forecast.

Exchange-traded funds offering investors betting on or against Tesla Inc. two times the returns of the volatile stock launched Thursday, after what seemed like a long-shot bid at winning regulatory approval.

Discover Financial Services said third-quarter profit dropped 33% drop as write-offs climbed and the firm set aside more money to cover future loan losses. The shares fell the most in more than two months.

Union Pacific Corp. reported quarterly profit that topped analysts’ estimates, which had been adjusted down in the last month, as the railroad leaned on efficiency to make up for lower carloads and higher labor costs.

Elon Musk is dialing back expectations for Tesla Inc. as years of rapid expansion collide with rising interest rates and a more cost-conscious consumer.

Nestle SA is working on products designed to complement a new class of weight-loss drugs after revenue growth weakened to the slowest pace in almost three years.

Canada’s Desjardins Group joined the list of financial firms reducing staff, cutting nearly 400 employees, mostly in Quebec.

Argentina’s next president will take over in the middle of a financial emergency — which is par for the course in one of the world’s most dysfunctional economies.

Europe’s executive arm is proposing a two-year delay in implementing a key element of its sustainable finance framework, as complaints mount that businesses can’t keep up.