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Ex-Tesco boss known as ‘Drastic Dave’ for his cost-cutting zeal pledges more of the same at flagging Guinness ownerShares in Diageo have bounced after the Guinness owner’s chief executive, “Drastic Dave” Lewis, passed the first big test of his plan to revive the flagging fortunes of the UK-based drinks company.Lewis, a former Tesco boss known in the City for his cost-cutting zeal, promised to deliver $1bn of savings over two years through a “significant” restructuring aimed at making the company more agile. Continue reading...

Van Viet Truong was critically injured after coming to the aid of a fellow retail worker in SunshineFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastCouncil flags are flying at half-mast in honour of a good Samaritan who died days after he was allegedly attacked by shoplifting youths outside a local shopping strip.Van Viet Truong was critically injured after he rushed to the aid of a fellow retail worker trying to stop the group stealing clothes at Sunshine in Melbourne’s west on Saturday, police allege. Continue reading...

• The AI boom is driving significant profit growth for multilayer ceramic capacitor (MLCC) suppliers, leading to price increases and a surge in long-term orders. • High demand for AI-related components is benefiting manufacturers in mainland China and Taiwan, as conventional production is crowded out by high-value AI needs. • Chaozhou Three-Circle Group recently raised 7.16 billion Hong Kong dollars ($913 million) through a July listing to fund global expansion.

• ENGIE has raised its 2026 outlook following strong financial results for the first half of the year. • The company reported CapEx of EUR 22.9 billion, driven largely by the EUR 19 billion acquisition of UK Power Networks. • While net debt increased due to the acquisition, the company noted that overall levels remain strong enough to support its ongoing investment plan.

• Eurobank has raised its 2026 outlook following strong financial results reported for the first half of the year. • CFO Harris Kokologiannis detailed a full-year Net Interest Income (NII) guidance of €4.5 billion, comprising €2.7 billion from H1 and an expected €1.8 billion for H2. • The bank is actively expanding its bond position and indicated it may acquire up to an additional €1 billion in bonds during the remainder of the year.

• European markets opened higher on Wednesday, with the FTSE 100 receiving a boost from strong corporate earnings reports. • Investors are currently positioning themselves ahead of a critical week of monetary policy decisions from three major central banks. • The Federal Reserve is scheduled to announce its decision on Wednesday, followed by the Bank of England on Thursday and the Bank of Japan on Friday.

• Manufacturing growth forecasts have been raised to 9%, driven primarily by the surge in AI-powered electronics. • In major financial moves, Allianz has acquired HSBC Life Singapore for $2.1 billion, while UOB is upgrading 300,000 Visa cards to premium tiers across ASEAN. • Singapore's global startup standing has seen a significant rise, climbing from 16th to 4th place over the last five years.