Avaya: messy rescue financing shows an earlier reckoning was in order
US telecom company’s market worth has fallen to under $100mn, squashed by $3bn of debt
Domino’s shuts up shop in Italy after failing to win over the home of pizza
US chain met fierce competition from traditional restaurants using delivery apps
Russian oil flow halted through Druzhba pipeline to central Europe
Supply to Slovakia, Czech Republic and Hungary cut off amid row over payments related to EU sanctions against Moscow
Great British Railways: where passengers come last
Large-scale cancellations by Avanti owe more to a dysfunctional model than ‘unofficial strike action’
London faces hosepipe ban in weeks as England braces for new heatwave
Thames Water warns its 15mn customers that restrictions will soon be needed given forecast for continued dry weather
There are reasons to be optimistic about the US economy
Gloomy predictions of a hard landing overlook changes in the private sector and the labour market
Wizz Air to resume flights to Moscow through Abu Dhabi venture
Analysts warn move could cause reputational damage to Hungary-based carrier in wake of invasion of Ukraine
L&G: Solvency II reform would hurt as well as help
Shareholders would need to take cover in a really bad downturn
Europe can withstand a winter recession
Energy substitution, solidarity and conservation can help overcome the effects of a Russian gas embargo
SoftBank’s record $23bn loss could push Masayoshi Son to reconsider taking group private
Analysts and investors say latest results raise questions over whether group still needs to be listed