By Christoph Steitz FRANKFURT (Reuters) -Thyssenkrupp and trade union IG Metall on Saturday said they had agreed on reduced working hours, lower bonus payments and site closures as part of a push to revamp Germany’s largest steelmaker and prepare it for a standalone future. The accord with steel workers marks a major step in Thyssenkrupp’s …
Thyssenkrupp steel, workers agree deep cuts in major overhaul Read More »
MILAN (Reuters) -Italy’s Leonardo is open to supplying technology for drones but it does not plan to open a factory in Ukraine, the chief executive of the state-controlled defence group told daily Corriere della Sera in an interview published on Saturday. Rome hosted a conference on Thursday to mobilise international support for Ukraine, and Italian …
Leonardo may offer drone tech but has no plans for plant in Ukraine, CEO tells paper Read More »
PRAGUE (Reuters) -Slovakia aims to reach an agreement with the European Commission and EU partners by Tuesday on guarantees it will not suffer from the end of Russian gas supplies and on a new sanctions package against Russia, Prime Minister Robert Fico said on Saturday. Slovakia has been blocking the EU’s 18th sanctions package over …
Slovakia aims for agreement by Tuesday on end of Russian gas supplies, sanctions Read More »
(Reuters) -Jaguar Land Rover North America is recalling 20,999 vehicles in the United States due to torn passenger airbags that may not adequately protect an occupant in a crash, increasing the risk of injury, the U.S. National Highway Traffic Safety Administration said on Saturday. (Reporting by Anusha Shah in Bengaluru; Editing by Sharon Singleton)
By Kenrick Cai, Krystal Hu and Kritika Lamba (Reuters) -Alphabet’s Google has hired several key staff members from AI code generation startup Windsurf, the companies announced on Friday, in a surprise move following an attempt by its rival OpenAI to acquire the startup. Google is paying $2.4 billion in license fees as part of the …
Google hires Windsurf execs in $2.4 billion deal to advance AI coding ambitions Read More »
By Olivia Le Poidevin GENEVA (Reuters) -Companies must use advanced tools to detect and stamp out misinformation and deepfake content to help counter growing risks of election interference and financial fraud, the United Nations’ International Telecommunication Union urged in a report on Friday. Deepfakes such as AI-generated images and videos, and audio that convincingly impersonates …
UN report urges stronger measures to detect AI-driven deepfakes Read More »
(Reuters) -Kraft Heinz is studying a potential spin off of a large chunk of its grocery business, including many Kraft products, into a new entity that could be valued at as much as $20 billion on its own, a source familiar with the matter said on Friday. However, the structure of the deal could change …
Kraft Heinz explores grocery business spinoff worth up to $20 billion, source says Read More »
By Sudip Kar-Gupta PARIS (Reuters) -French bank Credit Agricole said on Friday it was seeking approval from the European Central Bank to raise its stake in Italy’s Banco BPM, which has also had bid interest from UniCredit, to just over 20%. Italy’s banking arena has recently witnessed sector consolidation, after years of record profits in …
Credit Agricole to seek ECB approval to go over 20% shareholding in Banco BPM Read More »
By Abigail Summerville -Private equity firm Cerberus Capital Management, which owns a stake in grocer Albertsons, and billionaire investor Dean Metropoulos teamed up in an unsuccessful bid for cereal maker WK Kellogg, according to three sources familiar with the matter. The consortium, which was being advised by investment banks UBS and Macquarie Capital, ultimately lost …
Cerberus and Dean Metropoulos also made a bid for WK Kellogg, sources say Read More »
PARIS (Reuters) -Brussels will propose a new tax on companies with a net turnover exceeding 50 million euros ($58.44 million) as part of an effort to generate new financing streams for the European Union’s common budget, the Financial Times report on Friday. The proposal would need the backing of all 27 member states to enter …
EU plans new tax on big corporates to boost budget -FT Read More »
