IBT Staff Reporter

Cosmetics group L'Oreal bucked a declining trend for the luxury and fashion industry in China with sales growing in the second quarter despite COVID-19 lockdowns, as the make-up market rebounds.

A secondary listing in Milan is a possibility, but not a priority for Hong Kong-listed Italian luxury group Prada, its chairman said on Thursday, adding no decision had been taken on the issue.

Deadly Russian strikes target military bases in central Ukraine

Few members of the governing Conservative Party supported foreign secretary Liz Truss when the leadership contest began this month, but now there's a sense of inevitability that she will become Britain's next prime minister.

New York on Thursday sued CVS Health Corp for allegedly forcing hospitals that serve low-income patients to pay millions of dollars to access discounted prescription drugs, violating state antitrust law.

The head of the U.S. Environmental Protection Agency pledged to combat environmental injustice in the U.S.

Investors should get ready for a bumpier ride as markets adjust to prolonged inflation, hefty interest rate rises and a fall in the euro to parity with the dollar, Euronext chief executive Stephane Boujnah said on Thursday.

Mohamed Abu Khodr had been waiting for hours outside a Beirut bakery in hopes of buying two bags of subsidised bread he needs to feed his family.

Brazilian airline Gol Linhas Aereas Inteligentes SA on Thursday reported a steep second-quarter net loss mainly due to foreign exchange variations, sending its shares down even as its net revenue more than tripled over the same period of 2021.

Legalizing mining on indigenous land and other protected areas in Brazil's Amazon rainforest would lead to thousands of square kilometers in new deforestation, according to a study published on Thursday.

The Bank of Japan could target a more flexible monetary policy after the departure of dovish Governor Haruhiko Kuroda next April, former BOJ policy board member Takahide Kiuchi said on Thursday.

U.S. Senate Democrats aim to dodge "booby traps" including COVID and surprises from within their own ranks to pass a $430 billion drugs and climate change bill agreed to by Majority Leader Chuck Schumer and maverick Democratic Senator Joe Manchin after months of talks.

Indigenous activists unfurled a banner demanding Pope Francis rescind 15th-century papal edicts justifying colonialism at a Mass he presided over Thursday, thrusting the doctrine to the forefront of his apology tour of Canada.

The U.S. Justice Department is investigating a cyber breach involving the federal court records management system, the department's top national security attorney told lawmakers on Thursday.

The U.S. Justice Department is investigating a cyber breach involving the federal court records management system, the department's top national security attorney told lawmakers on Thursday.

The United States is optimistic that there could be some positive announcement when OPEC+ meets next week, a senior administration official said on Thursday, adding that additional oil supplies would help further stabilise the market.

British drugmaker GSK has struck a deal to allow low-cost generic versions of its long-acting HIV preventive medicine to be used in the developing world, including sub-Saharan Africa where the virus remains a leading cause of death.

Mexican cement producer Cemex SAB de CV on Thursday posted a near 2% fall in second-quarter earnings and lowered its full-year operating profit forecast, even as it boosted prices to offset surging energy costs.

OPEC and its allies will consider keeping oil output unchanged for September when they meet next week, despite calls from the United States for more supply, although a modest output increase is also likely to be discussed, eight sources said.

President Joe Biden tried to soothe Americans' worries about the strength of the economy on Thursday, after new data showed it had contracted for two quarters in a row.

President Joe Biden worked on Thursday to soothe voters' angst about the state of the U.S.

Spain's leftist ruling coalition introduced a draft bill on Thursday to create a temporary tax on banks and power utilities, aiming to raise 7 billion euros ($7 billion) by 2024 to fund measures to ease cost of living pressures.

Bhutan is considering several steps to contain adverse impacts on the economy following a fall in foreign exchange reserves, its economic affairs minister said on Thursday, after the government warned residents about possible curbs on imports.

The German government's hard line on Russia over the Ukraine war is coming under pressure at home amid growing worries about the resulting soaring energy prices and possible gas shortages in Europe's largest economy when winter comes.

The U.S. House of Representatives plans to give final passage on Thursday to sweeping legislation to boost the U.S.

U.S. chip manufacturer SkyWater Technology Inc and Alphabet Inc's Google Public Sector announced on Thursday they are expanding an open source platform to design chips that can be made in SkyWater's Minnesota facility.

Stiff competition from TikTok and Apple Inc's privacy changes will remain a cause for concern for Facebook-owner Meta Platforms Inc in the near term, Wall Street analysts said.

Stiff competition from TikTok and Apple Inc's privacy changes will remain a cause for concern for Facebook-owner Meta Platforms Inc in the near term, Wall Street analysts said.

Hungarian Prime Minister Viktor Orban stuck to his anti-immigration stance on Thursday but insisted it was not rooted in racism after his recent remarks that Hungarians did not want to become "peoples of mixed race" drew fire at home and abroad.