Factbox-European companies cut jobs as economy sputters

Reuters | July 7, 2023

(Reuters) – Decades-high inflation and the impact of war in Ukraine have forced companies across Europe into lay-offs or hiring freezes. Here are some of the companies that have announced cuts since January: AUTOS * AUTOLIV: the Swedish airbag and seatbelt maker said on June 8 it plans to cut around 8,000 jobs, which equates […]

Ford finds international investor for German plant in Saarlouis

Reuters | June 30, 2023

HAMBURG (Reuters) – Ford has found what it described as a major international investor for the U.S. carmaker’s German plant in Saarlouis and has signed initial agreements together with the western state of Saarland, it said at a works meeting at the plant on Friday. “This is an excellent basis for further negotiations, with the […]

Accenture looks to power AI efforts with $3 billion investment

Reuters | June 13, 2023

(Reuters) – Accenture said on Tuesday it will invest $3 billion over three years into its data and AI practice, doubling the number of employees that are working with the cutting-edge technology at the IT consulting firm. The company, which consults and services various clients on generative AI projects, said it will have 80,000 people […]

Oil posts second weekly decline as demand concerns overshadow Saudi cut

Reuters | June 9, 2023

By Shariq Khan BENGALURU (Reuters) – Oil prices fell more than a dollar a barrel on Friday to record a second straight weekly decline, as disappointing Chinese data added to doubts about demand growth after Saudi Arabia’s weekend decision to cut output. Brent crude futures fell $1.17, or 1.5%, to settle at $74.79 a barrel, […]

Instagram, YouTube, TikTok, Twitter target of EU crypto advertising complaint

Reuters | June 9, 2023

By Foo Yun Chee BRUSSELS (Reuters) – Meta Platforms’ Instagram, Alphabet’s YouTube, TikTok and Twitter could face regulatory action after European consumer group BEUC complained to the European Commission and consumer authorities that the online platforms allegedly facilitate the misleading promotion of crypto assets. U.S. regulators suing crypto platforms Coinbase and Binance, along with last […]

Diageo’s long-time boss Ivan Menezes dies after brief illness

Reuters | June 7, 2023

(Reuters) -Diageo on Wednesday said long-time boss Ivan Menezes, who held the CEO role at the world’s biggest spirits company for 10 years, had died after a brief illness. The 63-year-old, who was set to retire at the end of this month, was in hospital receiving treatment for conditions including a stomach ulcer, the Johnnie […]

Oil prices ease as economic fears overshadow Saudi output cut

Reuters | June 6, 2023

By Scott DiSavino NEW YORK (Reuters) -Oil prices eased about 1% on Tuesday as worries that sluggish global economic growth could reduce energy demand outweighed Saudi Arabia’s pledge to deepen output cuts. Brent futures fell 42 cents, or 0.6%, to settle at $76.29 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 41 cents, […]

Big Tobacco faces big EU counterfeit problem

Reuters | June 1, 2023

By Richa Naidu, Emma Pinedo and Emilio Parodi MADRID (Reuters) – Spanish police raided three clandestine tobacco factories early this year, seizing nearly 40 million euros ($44 million) worth of tobacco leaf and illicit cigarettes. At one, in the northern town of Alfaro, they found 10 Ukrainian workers, five of them war refugees, who’d been […]

AI means everyone can now be a programmer, Nvidia chief says

Reuters | May 29, 2023

TAIPEI (Reuters) – Artificial intelligence means everyone can now be a computer programmer as all they need to do is speak to the computer, Nvidia Corp CEO Jensen Huang said on Monday, hailing the end of the “digital divide”. Nvidia has surged to become the world’s most valuable listed semiconductor company as a major supplier […]

As Bud slips, Heineken plots further shake-up of U.S. light beer

Reuters | May 23, 2023

By Doyinsola Oladipo and Philip Blenkinsop NEW YORK/BRUSSELS (Reuters) – As investors try to assess the fallout on global brewing leader Anheuser-Busch InBev from a backlash against Bud Light, rival Heineken is spending $100 million to promote a new light beer to Americans. The Dutch brewer sees Heineken Silver driving fresh momentum into its U.S. […]

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