Companies

Infineon Announces Job Cuts in High-Wage Countries to Streamline Costs
August 5, 2024
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Infineon Announces Job Cuts in High-Wage Countries to Streamline Costs

German chip manufacturer Infineon plans to cut or relocate 2,800 jobs as part of a cost-saving program. This includes a mid-three-digit number of job cuts at the Regensburg site and the relocation of 1,400 jobs to cheaper locations in North America and Asia.

Rolls-Royce Staff Receive £700 Share Bonus After Profit Surge
August 2, 2024
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Rolls-Royce Staff Receive £700 Share Bonus After Profit Surge

British engineering firm Rolls-Royce is awarding £700 worth of shares to each of its 42,000 employees globally. This move follows a significant rebound in the company's business, marked by increased profit forecasts and the reinstatement of dividend payments. The share award is a first for Rolls-Royce and reflects a fivefold increase in its share price since early 2023.

Sanofi Invests €1.3bn in New German Insulin Plant
August 2, 2024
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Sanofi Invests €1.3bn in New German Insulin Plant

French pharmaceutical company Sanofi is investing €1.3 billion in a new insulin production facility in Germany. The facility, located at the company's Hoechst site near Frankfurt, is expected to replace existing plants by 2029 and will bolster European insulin supply for people with diabetes.

NS to Significantly Increase Train Fares and Cut 500 Jobs
August 1, 2024
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NS to Significantly Increase Train Fares and Cut 500 Jobs

Dutch national railway company NS plans to raise train fares by over 11% next year and cut 500 jobs to address financial losses. The decision comes after a one-off government subsidy postponed a planned 8.7% increase this year, but no structural aid is expected for 2025.

Uber and BYD Partner to Bring 100,000 Electric Vehicles to EU Roads
July 31, 2024
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Uber and BYD Partner to Bring 100,000 Electric Vehicles to EU Roads

Uber and BYD partner to bring 100,000 electric vehicles to Uber's platform in Europe and Latin America, offering drivers affordable options and exploring autonomous driving technology.

EDP's Q2 Profits Triple to €408 Million, Driven by Renewable Energy Growth
July 31, 2024
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EDP's Q2 Profits Triple to €408 Million, Driven by Renewable Energy Growth

EDP, the Portuguese energy giant, reported a significant increase in second-quarter profits, driven by the growth of renewable energy sources like hydroelectricity, wind, and solar power. The company's strong performance in the first half of the year, with a 75% increase in net profits, reflects its commitment to the energy transition. However, rising debt levels remain a concern.

Pension Giants Join Forces to Unleash £20bn Investment in UK's Future
July 31, 2024
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Pension Giants Join Forces to Unleash £20bn Investment in UK's Future

Phoenix Group and Schroders have launched a joint venture, Future Growth Capital, to invest up to £20 billion of pension funds in unlisted UK companies over the next decade. The venture will focus on high-growth sectors like green energy and property, aiming to boost returns for savers and stimulate economic growth.

Booking.com Fined Record €400mn by Spanish Authorities
July 30, 2024
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Booking.com Fined Record €400mn by Spanish Authorities

Booking.com faces a record €400 million fine from Spanish competition authorities for alleged anti-competitive practices, including imposing unfair conditions on hotels and hindering competitors.

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