Companies

CCF to Cut Over 1,000 Jobs and Close Up to Half of Branches
October 3, 2024
Line
 Min

CCF to Cut Over 1,000 Jobs and Close Up to Half of Branches

Credit Commercial de France (CCF), owned by Cerberus Capital Management, plans to reduce its workforce by over 1,000 employees and close nearly half of its branches as part of a restructuring effort. The move comes after Cerberus acquired the French retail bank from HSBC in early 2024, with the goal of returning the bank to sustainable growth.

Shein Moves Toward London IPO Amid Regulatory Scrutiny
October 3, 2024
Line
 Min

Shein Moves Toward London IPO Amid Regulatory Scrutiny

Shein is preparing for a London IPO by holding informal investor meetings, despite facing regulatory hurdles in both the UK and China. The fast-fashion retailer, previously valued at $66 billion, must navigate questions about its business model and environmental record while addressing European government concerns over tax exemptions.

Sabadell Eyes €1.6bn Profit Amid BBVA's Adjusted Takeover Bid
October 3, 2024
Line
 Min

Sabadell Eyes €1.6bn Profit Amid BBVA's Adjusted Takeover Bid

Sabadell's CEO announced the bank could earn over 1.6 billion euros in net profit for 2024, reflecting strong first-half performance. Meanwhile, BBVA has adjusted its hostile takeover bid for Sabadell, valuing the bank at approximately 10 billion euros following dividend payments and changes in BBVA's share price.

TotalEnergies faces $2.1bn tax hit but continues $2bn buybacks
October 3, 2024
Line
 Min

TotalEnergies faces $2.1bn tax hit but continues $2bn buybacks

TotalEnergies faces a $2.1 billion hit from EU and UK windfall taxes but expects higher LNG cash flow and will continue its $2 billion share buybacks into 2023.

Coca-Cola plans to axe hundreds of jobs in Germany
October 3, 2024
Line
 Min

Coca-Cola plans to axe hundreds of jobs in Germany

Coca-Cola will close five production and logistics sites in Germany, cutting around 500 jobs to streamline operations and adapt to changing logistics trends. The company is also investing in renewable energy through a partnership with Pipeline Organics, aiming to use 100% renewable electricity across all markets by 2030.

Starling Bank fined £29mn for lax crime controls
October 3, 2024
Line
 Min

Starling Bank fined £29mn for lax crime controls

Starling Bank was fined £29 million for failing to prevent financial crime, opening accounts for high-risk customers and missing key sanctions screenings. The bank has apologized and implemented corrective measures.

Boeing Plans $10 Billion Stock Sale to Tackle Cash Crunch
October 1, 2024
Line
 Min

Boeing Plans $10 Billion Stock Sale to Tackle Cash Crunch

Boeing plans to raise $10 billion through a stock sale to offset strike-related cash losses and maintain its credit rating, while dealing with 737 Max production delays.

AP Møller Holding to Invest in Europe's First Green Plastics Factory
September 30, 2024
Line
1
 Min

AP Møller Holding to Invest in Europe's First Green Plastics Factory

AP Møller Holding, the investment group of the Maersk family, is spearheading efforts to reduce reliance on fossil fuels in plastics production. The group plans to invest €1.5 billion in a groundbreaking factory in Antwerp, Belgium, which will produce plastics using green methanol, a key step in tackling climate change. The factory will be Europe's first large-scale facility to make plastics without fossil fuels, offering a sustainable alternative to traditional methods.

Categories

Mergers & Acquisitions
Economy
Companies
Markets
Tech & Space
Energy

Get smarter in just 5 minutes

Your daily 5-minute digest on business and tech news from across the UK & EU delivered straight to your inbox every morning!
Your data is never sold, transferred or used for any purpose other than to deliver our newsletter.
Thank you for subscribing to Dawn Digest!
Something went wrong while subscribing. Please contact us at support@dawndigest.com.

Copyright © 2024 DawnDigest. All Rights Reserved.

Close Icon