Companies

PostNord to End Letter Delivery in Denmark After 400 Years

March 6, 2025

PostNord to End Letter Delivery in Denmark After 400 Years

PostNord will cease delivering letters in Denmark by the end of 2025, ending a 400-year tradition, as digital communication takes over. The decision, driven by a 90% decline in letter volumes since the start of the century, will see 1,500 mailboxes removed and affect around 1,500 employees, with many facing redundancies. The move is expected to force low-income and elderly users still reliant on physical mail to shift to digital services, while PostNord will continue its operations in Sweden.

Deutsche Post Cuts 8,000 Jobs to Save Over €1bn

March 6, 2025

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Deutsche Post Cuts 8,000 Jobs to Save Over €1bn

Deutsche Post, the German postal and parcel service, announced it will cut 8,000 jobs (about 4% of its workforce) in Germany by year-end as part of an austerity program aimed at saving over €1bn. The move comes in response to declining letter volumes due to digitalization, despite a 3% rise in sales last year. The decision has sparked criticism from unions, who warn it will worsen staff shortages, even as a new collective agreement was recently reached.

Belgian Retail Chain CASA Files for Bankruptcy

March 5, 2025

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Belgian Retail Chain CASA Files for Bankruptcy

Belgian homeware retailer CASA has filed for bankruptcy, leading to the closure of 63 stores, its headquarters, and a distribution centre in Olen, endangering 544 jobs in Belgium. Struggling with mounting debt and an unfavorable retail market, CASA operating across eight European countries failed to secure a viable rescue plan despite prolonged efforts and negotiations with creditors and 12 potential investors.

Moderna Wins Patent Dispute Against BioNTech and Pfizer

March 5, 2025

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Moderna Wins Patent Dispute Against BioNTech and Pfizer

Moderna has emerged victorious in a patent lawsuit against Pfizer and BioNTech over the use of its mRNA technology. The Düsseldorf Regional Court ruled in favor of Moderna, ordering the defendants to provide detailed information on the patent's usage, profits made, and to pay appropriate compensation and damages. The dispute centers on technology developed by Moderna between 2010 and 2016 for its coronavirus vaccine, with Pfizer and BioNTech arguing that they had temporary permission to use the technology until May 2023. However, the court rejected their defense, noting that Moderna had revoked its permission in March 2022.

Hyundai to Kick Off EV Production in Türkiye from 2026

March 4, 2025

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Hyundai to Kick Off EV Production in Türkiye from 2026

Hyundai plans to start manufacturing electric vehicles at its Izmit factory in northwestern Kocaeli, Türkiye, in the second half of 2026. The move is part of a broader strategy to boost its European market share and support its goal of selling only zero-emission vehicles in Europe by 2035, while continuing production of internal combustion models.

ADNOC and OMV Merge to Form $60bn Petrochemical Giant

March 4, 2025

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ADNOC and OMV Merge to Form $60bn Petrochemical Giant

Abu Dhabi National Oil Company (ADNOC) and Austria’s OMV have agreed to merge their polyolefins businesses, creating a petrochemical powerhouse valued at $60bn. The new entity, Borouge Group International, will be an equal joint venture and is set to acquire Nova Chemicals for $13.4bn, expanding its presence in North America. Headquartered in Vienna and initially listed in Abu Dhabi, the merger is expected to generate annual cost savings of about $500m and pave the way for a $4bn primary capital raise in 2026.

BlackRock Strikes $23bn Deal for Ports on Both Sides of the Panama Canal

March 4, 2025

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BlackRock Strikes $23bn Deal for Ports on Both Sides of the Panama Canal

A consortium of investors led by BlackRock has agreed to acquire majority stakes in key port terminals on both sides of the Panama Canal and dozens of additional ports globally from CK Hutchison for $22.8bn. The deal, aimed at addressing US national security concerns over Chinese influence in critical infrastructure, transfers control of the Balboa and Cristóbal terminals, which together handle 40% of the canal's container traffic.

Netherlands Targets Critical Metals with Major Investment Fund

March 3, 2025

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Netherlands Targets Critical Metals with Major Investment Fund

The Hague-based Invest International has announced plans to establish a public-private investment fund targeting several hundred million euros to reduce the Netherlands’ dependence on scarce raw materials essential for the energy transition and digitalization. The fund will work with banks, pension funds, and EU partners to secure critical supplies such as lithium, cobalt, copper, and neodymium. By partnering with key countries like Australia, Canada, Chile, Vietnam, and South Africa, the initiative aims to optimize resource use through improved recycling and innovative alternatives, ensuring that the country is never overly dependent on a single supplier.

PostNord to End Letter Delivery in Denmark After 400 Years

Deutsche Post Cuts 8,000 Jobs to Save Over €1bn

Belgian Retail Chain CASA Files for Bankruptcy

Moderna Wins Patent Dispute Against BioNTech and Pfizer

Hyundai to Kick Off EV Production in Türkiye from 2026

ADNOC and OMV Merge to Form $60bn Petrochemical Giant

BlackRock Strikes $23bn Deal for Ports on Both Sides of the Panama Canal

Netherlands Targets Critical Metals with Major Investment Fund

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