FRANKFURT (Reuters) – Carmaker Porsche AG plans to cut an additional 1,900 jobs across the entire company over the next four years after a programme that has already started was determined to be insufficient, a company spokesperson told Reuters on Thursday. The German carmaker aims to reduce the number of positions at its main sites …
Porsche plans to cut additional 1,900 jobs by 2029 Read More »
LONDON (Reuters) – Lower oil prices, budget constraints and a rise in bad corporate debt are among the top economic risks facing Russia, documents prepared for an internal government discussion show, with a possible jump in U.S. and OPEC oil output of notable concern. President Vladimir Putin and top officials have in public regularly extolled …
Exclusive-Russian authorities see rising economic risks, internal reports show Read More »
By Krisztina Than and Daria Sito-Sucic BUDAPEST/SARAJEVO (Reuters) – At a Feb. 10 editorial meeting of Hungarian investigative outlet Atlatszo, journalists discussed how they might raise money after their grants from USAID intermediaries were halted amid U.S. President Donald Trump’s drive to shutter the agency. “Without these funds it would be very hard to maintain …
Eastern Europe’s media in the crosshairs after USAID funding freeze Read More »
(Reuters) – Cisco Systems shares rose 6% on Thursday after the networking gear maker lifted its annual revenue forecast on strong AI-driven demand and reassured investors that U.S. tariffs would not have a big impact on its business. Demand for the telecom equipment maker’s ethernet switches and routers used in data centers has surged as …
Cisco shares climb as network gearmaker raises forecast, eases tariff worries Read More »
ROME (Reuters) – Italy will hold a 70% stake in Sparkle once Telecom Italia (TIM) completes the sale of its subsea unit in a deal also involving Spain’s Asterion fund, Italian Economy Minister Giancarlo Giorgetti said on Thursday. TIM said on Wednesday that its board had approved the 700-million-euro ($726 million) sale of Sparkle to …
Italy to hold 70% stake in TIM subsea unit Sparkle after deal with Asterion Read More »
By Gianluca Lo Nostro and Leo Marchandon (Reuters) – France’s Orange is pushing for European sovereignty on satellites and wants that ecosystem to grow in strength, while also continuing to collaborate with Elon Musk’s Starlink, the CEO of the telecoms group said on Thursday. WHY IT’S IMPORTANT European companies are ramping up their efforts to …
Orange CEO pushes for European sovereignty on satellites, to maintain Starlink ties Read More »
By Paul Sandle LONDON (Reuters) – British business secretary Jonathan Reynolds on Thursday demanded the country’s competition watchdog be “more agile” and “less risk averse,” pushing the regulator to better align with the government’s growth agenda. Outlining new guidance for the Competition and Markets Authority (CMA), Reynolds asked the watchdog to be more responsive to …
UK government pushes antitrust regulator to be ‘less risk averse’ Read More »
BERLIN (Reuters) – German carmakers Volkswagen and Audi are considering allowing some combustion engine models to run longer in Europe, the Handelsblatt business news outlet reported on Thursday citing sources. The sources, not further specified, told Handelsblatt there could be a decision on the issue at a investment planning round in March. (Writing by Friederike …
VW, Audi consider keeping combustion engines longer in Europe – Handelsblatt Read More »
MOSCOW (Reuters) – Russia’s current account deficit in January 2025 stood at $0.7 billion, compared with a surplus of $2.9 billion in January 2024 and a deficit of $1.6 billion in December 2024, the country’s central bank said on Thursday. The central bank data showed that the foreign trade surplus fell to $4.5 billion, compared …
Russian central bank says January 2025 current account deficit at $0.7 billion Read More »
By Sergio Goncalves LISBON (Reuters) – Portugal’s Novo Banco has begun preparations for an initial public offering (IPO) that could be one of the largest in Europe this year, tapping into a surge in enthusiasm for listings as indexes hover near multi-year highs. In an email to employees on Thursday, CEO Mark Bourke said that …
Portugal’s Novo Banco readies for one of Europe’s biggest IPOs this year Read More »
