Meta shares jumped on Wednesday after the social media company’s sales for the final quarter of 2022 came in better than expected and it authorised an additional $40bn in share buybacks.Meta, which owns Facebook, Instagram and WhatsApp, reported revenues of $32.2bn, a 4 per cent…

Banks that lost billions from the meltdown of Archegos Capital Management will get back as little as 5 cents on the dollar from its restructuring, with brokers such as Goldman Sachs funding the payouts using cash left in the family office’s trading accounts.Global banks, including…

British Steel is examining more than 800 job cuts at its flagship UK plant, according to trade unions, in a move that raises questions over a proposed £300mn support package from the government. Although the company, which is owned by China’s Jingye, has not yet…

NatWest chief executive Alison Rose has refused to attend a hearing of the House of Commons Treasury select committee next week, telling MPs that she is “too busy” ahead of the state-backed bank’s full-year results, according to people briefed on the dispute.Committee chair Harriett Baldwin…

Airbus and Qatar Airways have settled a bitter dispute over flaking paint on the European plane maker’s A350 wide-body jets, averting a potentially damaging and costly court trial in the UK this year. The aerospace group and Qatar, one of its largest customers, said on…

In October, Peloton’s new chief executive, Barry McCarthy, said the pandemic’s stage winner had six months to rediscover its balance. A nascent recovery has come ahead of schedule. On Wednesday, the stationary bike maker said that in the fourth quarter it just broke even on…