Business

German defense contractor Rheinmetall AG announced a €350 million investment to more than double gunpowder production at its Aschau am Inn facility in Bavaria. The expansion, dubbed Project Firepower, aims to increase annual output to 4,200 metric tons by 2028 to address ammunition shortages caused by the war in Ukraine. The scale of the operation … Read more

BNP Paribas reported a 33% increase in second-quarter net profit to €4.35 billion on July 23, 2026. The French lender beat analyst estimates due to record equity trading activity and a rebound in retail banking, while successfully reaching its 13% Common Equity Tier 1 (CET1) ratio target ahead of schedule. The euro zone’s largest bank … Read more

Prime Minister Andy Burnham has announced a 20% cut in business rates for pubs, clubs, and live music venues across England. The relief, which takes effect from April next year, is designed to support the backbone of local high streets and provide financial certainty for businesses, according to GOV. New Business Rates Policy for Hospitality … Read more

Macquarie Group has appointed long-serving executive Greg Ward as its next chief executive officer, effective November 6, 2026. Ward, currently head of the bank’s banking and financial services division, will succeed Shemara Wikramanayake, who is retiring after an eight-year tenure that saw the firm’s market capitalization rise to approximately $98 billion. The transition, announced Thursday, … Read more

Vietnam’s government issued Decree No. 255/2026/ND-CP on June 30, 2026, to consolidate transfer pricing regulations. Effective July 1, 2026, the decree updates documentation exemptions, expands data sources for comparability analyses, and aligns local country-by-country reporting with OECD standards, significantly impacting how multinational enterprises manage tax compliance for the 2026 corporate income tax year. The directive … Read more

South Africa is advancing its energy sector strategy through the launch of a dedicated renewable energy subsidiary and the securing of a $400-million loan to modernize municipal infrastructure in the coal-reliant Mpumalanga province. These developments represent a dual approach to managing the country’s transition from high-carbon energy dependency to a more diversified power mix. Establishment … Read more

Tampa International Airport, Des Moines International Airport, and Charleston International Airport are transitioning to the TSA’s Gold+ private screening model. The move follows a surge in federal officer resignations and call-outs as TSA employees work without pay during a government funding lapse. The federal government’s inability to fund the Department of Homeland Security has turned … Read more

This move follows a partial government shutdown that left thousands of federal screeners working without pay, causing security lines at some U.S. hubs. According to a TSA spokesperson, the program is an update to an existing model where private security companies operate checkpoints under federal oversight. The Cost of Federal Instability: Unpaid Officers The push … Read more

French multinational Malteurop will close its Marton malt mill at the end of September 2026, ending 46 years of operations in the Rangitīkei district. The closure affects 14 staff members and removes a facility that processed roughly 70 percent of New Zealand’s domestic malt market, forcing local brewers to seek new supply chains. The decision … Read more