Companies

Carrefour Plans Further Price Cuts as It Gains Ground in France
February 20, 2025
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Carrefour Plans Further Price Cuts as It Gains Ground in France

Carrefour, Europe’s largest food retailer, announced plans to further lower prices in 2025 amid persistent inflation and price-sensitive consumer demand. This move comes on the back of strong operating performance in its French market, where market share reached a 10-year high despite a slight 2.1% sales drop in Q4. The retailer also raised its dividend by 6% and declared a special dividend, even as it reviews its asset portfolio and braces for cautious consumer sentiment in the near term.

Renault Profits Plummet 65% Amid Nissan Crisis
February 20, 2025
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Renault Profits Plummet 65% Amid Nissan Crisis

Despite a 7.4% increase in turnover to €56.2 billion, Renault’s net profit has fallen by 65% in 2024 due to severe losses stemming from its stake in Nissan. The decline, which saw net attributable profit drop from €2.2 billion to €752 million, is largely attributed to a €2 billion negative impact from the deteriorating performance of its Japanese partner. In response, CEO Luca de Meo signaled plans to reduce dependency on Nissan potentially by divesting its historic 35% stake while maintaining robust operational performance through new electric models and aggressive cost-cutting strategies.

New Look Set to Exit Republic of Ireland Market
February 20, 2025
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New Look Set to Exit Republic of Ireland Market

New Look’s Irish arm, New Look Retailers (Ireland) Ltd, has entered liquidation, marking the retailer’s exit from the Republic of Ireland after years of sustained losses and challenging market conditions. The decision puts approximately 347 workers at risk, with all 26 stores scheduled to close soon before reopening later for a clearance sale.

Google to Pay €326mn Settlement to Resolve Italian Tax Dispute
February 19, 2025
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Google to Pay €326mn Settlement to Resolve Italian Tax Dispute

U.S.-based tech giant Google has agreed to pay €326 million (approximately $340 million) to settle a longstanding tax evasion investigation in Italy. Italian prosecutors had launched the probe into alleged unpaid taxes on advertising revenue from 2015 to 2019, focusing on the company’s Italian operations and the presence of local infrastructure.

Continental Cuts 3,000 Jobs in Automotive Division
February 18, 2025
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Continental Cuts 3,000 Jobs in Automotive Division

Continental has announced an additional global reduction of 3,000 jobs in its automotive supplier division by the end of 2026—1,450 of which will be in Germany. The move is part of a broader cost-cutting strategy aimed at strengthening the division ahead of its planned IPO, following previous cuts that eliminated 80–90% of earlier redundancy targets

Italian Tax Authorities Hunt Amazon for Alleged Multi-Billion Euro VAT Fraud
February 18, 2025
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Italian Tax Authorities Hunt Amazon for Alleged Multi-Billion Euro VAT Fraud

Italian tax authorities have launched a wide-ranging investigation into Amazon and three of its top executives over alleged VAT fraud linked to third-party online sales made outside the European Union between 2019 and 2021. It is estimated that around €1.2 billion in VAT may have been evaded, primarily by Chinese sellers using Amazon's Italian marketplace.

Thames Water Secures £3bn Lifeline After Court Ruling
February 18, 2025
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Thames Water Secures £3bn Lifeline After Court Ruling

Thames Water, the UK's largest water and waste company, has secured a crucial £3bn rescue loan following a High Court ruling. The decision, which staves off potential temporary nationalisation, gives the company the breathing space it needs to restructure its £19bn debt and extend debt repayments by two years. Despite relief for customers and investors, some creditors plan to appeal the ruling, arguing that the loan’s 9.75% interest rate is excessively steep.

Spotify to Launch New Premium Service for Music ‘Superfans’
February 17, 2025
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Spotify to Launch New Premium Service for Music ‘Superfans’

Spotify is set to introduce a new super-premium subscription tier, “Music Pro,” at $18 per month—an upgrade of $6 over its standard offering. The service, which debuts later this year following new licensing deals with Universal Music and Warner Music, will deliver higher-quality audio, early concert ticket access, and enhanced features like a “DJ” function. The move aims to target devoted music enthusiasts, or “superfans,” and drive the next phase of revenue growth.

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