Ryanair plans pay freezes and crew reductions to offset €2bn in rising jet fuel costs linked to Middle East conflicts. The airline expects European fares to rise up to 20% while facing union resistance over existing multiyear pay deals.
Mondelēz International has demanded vegan brand Moo Free remove its 'White Choccy Snowballs' citing trademark infringement against Cadbury Snowballs ahead of the Christmas period. Moo Free contests the claim, stating the term is generic and they were unaware of the trademark.
UK brickmaker Ibstock reported a 22% sales drop and cut production by 20%, slashing full-year profit forecasts to £40m amid a housing market downturn.
Elkem ASA reported a 14% Q3 EBITDA decline due to low commodity prices, though EU measures may lift demand. Silicon sales dropped 9%, while foundry alloys rose 5%, with stable fourth-quarter outlooks.
Ube Corp raised its full-year sales forecast to ¥518 billion and operating income to ¥26.5 billion for the fiscal year ending March 2027. The revision is driven by higher selling prices in the polymers and chemicals segment offsetting rising raw material costs.
Nine major oil producers are projected to earn over $95bn in Q3 profits amid Middle East tensions driving up fossil fuel prices. Critics demand windfall taxes while governments consider new drilling licenses despite climate concerns.
Sinopec's chemicals sales dropped 4.6% to 283.5 billion RMB in the first nine months of 2026, though operating losses narrowed to 2.1 billion RMB through cost cuts. Ethylene and synthetic resin outputs fell significantly amid weak demand.
Former Sinopec Group Chairman Fu Chengyu is under investigation for suspected serious violations, while leading photovoltaic companies reported narrowed losses in the third quarter despite ongoing supply-demand imbalances.
Investor Boit C F David acquired $1.33 million in Linde PLC shares in Q3. Linde reported strong Q3 results with $9.40 billion revenue, driven by semiconductor demand and higher pricing.
U.S. Steel has broken ground on a $1.9 billion direct-reduced iron (DRI) plant in Arkansas. The facility will supply DRI to the Big River electric arc furnace mill, strengthening the company's supply chain and steelmaking capabilities.
GeoPark completed its entry into Venezuela via a 25-year production contract, while Grupo Gilinski acquired a controlling 56.3% stake. The operator plans to consolidate the asset financially by late 2026 after funding all capital expenditures.
The Institute for Supply Management reported US manufacturing PMI rose to 55.5 in October, yet the input prices index remained high at 75.2, indicating persistent cost pressures for industrial sectors.
TotalEnergies is increasing its US renewable energy investment as competitors exit due to upcoming tax credit phase-outs. CEO Patrick Pouyanne views the market shift as an opportunity to acquire projects and accelerate construction before policy deadlines expire in 2027.
Valero Energy is acquiring LyondellBasell's mothballed Houston refinery for $320.5 million to restart 165 Mb/d of crude processing by late 2027. This deal marks a significant development for U.S. refining capacity amid recent industry closures.
German metal and electrical engineering workers intensified strikes over a pay dispute, with the IG Metall union demanding a 5% wage increase from employers representing 3.7 million employees across major firms like Audi and Tata Steel.
The UK spent a record £561 million in October balancing its power grid due to soaring gas prices and transmission bottlenecks. Rising costs highlight challenges in the nation's energy transition as renewable capacity outpaces grid infrastructure.
TotalEnergies forecasts global oil demand will peak between 2035 and 2040, potentially declining sooner due to electric vehicle growth. Geopolitical crises like the Iran conflict could accelerate the energy transition through increased EV sales and biofuel blending.
India’s government assured liquor companies it will honor the India-UK trade pact on Scotch tariffs, easing concerns for major players like Pernod and Diageo. Bulk imports remain eligible for reduced rates under the deal despite recent investigations.
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TotalEnergies CEO Patrick Pouyanne stated Europe will avoid a natural gas shortage this winter despite higher costs, dismissing market fears driven by geopolitical tensions.
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