Daily brief
UK retailers have cut 18,000 jobs since Labour’s tax rises, while the EBRD expects a mild 0.2% economic contraction in Romania this year. PwC has reduced partner payouts in the fallout from the China Evergrande scandal. Deutsche Bank cancelled a London event after a ceiling collapse.
Egypt’s finance minister met HSBC in London to boost investment, as Egypt and the UK also discussed boosting exports and investments in Africa.
Rolls-Royce faces criticism for outsourcing parts of a UK nuclear project to South Korea.
Meta is considering a large equity raise to finance AI infrastructure, the FT reports.
HSBC has been charged in a French probe over a Lebanese central bank embezzlement case (ongoing coverage).