Companies

Struggling Meyer Werft Secures Lifeline with Major Disney Order
August 12, 2024
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Struggling Meyer Werft Secures Lifeline with Major Disney Order

Meyer Werft, the financially embattled German shipyard, has received a crucial boost in the form of a major order from Disney Cruise Line for four cruise ships. This landmark deal, the largest in Meyer Werft's history, brings a glimmer of hope amidst a severe financial crisis.

Renfe's New Talgo Trains in Spain Plagued by Problems
August 11, 2024
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Renfe's New Talgo Trains in Spain Plagued by Problems

Renfe's newly acquired Talgo Avril S106 trains have experienced 479 incidents since their launch in May, leading to significant delays and passenger inconvenience. The most common issues are related to the train's control and communications network, with some incidents resulting in delays of over an hour and requiring passenger rescue or transfer.

Barclays Lifts EU Bonus Cap, Bankers Could Earn Up to 10 Times Salary
August 8, 2024
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Barclays Lifts EU Bonus Cap, Bankers Could Earn Up to 10 Times Salary

Barclays has become the first major UK bank to remove the cap on bankers' bonuses, potentially allowing payouts of up to 10 times their salary, raising concerns about a return to the pre-financial crisis bonus culture.

Tata Steel Netherlands Swings to €556mn Loss, Announces Job Cuts
August 7, 2024
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Tata Steel Netherlands Swings to €556mn Loss, Announces Job Cuts

Tata Steel Netherlands faced a substantial €556 million loss in the past financial year, primarily due to high energy and raw material costs. The company is undergoing a reorganisation, with 580 jobs expected to be cut, to maintain competitiveness and pursue sustainability goals.

Glencore Fined €140mn For Congo Bribe Brings Total Fines to €1bn
August 6, 2024
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Glencore Fined €140mn For Congo Bribe Brings Total Fines to €1bn

Glencore, a Swiss multinational commodity trading and mining company, has been fined €140 million in Switzerland for bribing officials in the Democratic Republic of Congo. This latest conviction is part of a series of corruption cases against Glencore, resulting in over €1 billion in fines in the past two years.

Sonova's Breakthrough: The World's First Real-Time AI Hearing Aid  
August 6, 2024
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Sonova's Breakthrough: The World's First Real-Time AI Hearing Aid  

Swiss hearing aid manufacturer Sonova has unveiled the world's first hearing aid with real-time artificial intelligence (AI), the Sphere Infinio. This groundbreaking device, along with the new Infinio platform, uses AI to enhance speech clarity in noisy environments, a significant advancement in the hearing aid market.

Iberia's Flight Plan 2030: A Multi-Million Euro Investment in Fleet Expansion
August 6, 2024
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Iberia's Flight Plan 2030: A Multi-Million Euro Investment in Fleet Expansion

Following the cancellation of the Air Europa takeover, Iberia, the Spanish airline, has unveiled its ambitious "Flight Plan 2030." This multi-million euro initiative focuses on significant fleet expansion, particularly in long-haul aircraft, to strengthen its position as a leading European hub and compete with major players in the industry.

Hermès Heir's €12bn Fortune Vanishes
August 5, 2024
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Hermès Heir's €12bn Fortune Vanishes

Nicolas Puech, heir to the Hermès fortune, lost a legal battle over his missing €12 billion stake in the company. A Swiss court ruled against Puech, stating that he willingly entrusted his finances to his former wealth manager. The whereabouts of the shares, which would have made Puech the largest single investor in Hermès, remain unknown.

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