Corporate Dispatch

Musk says Twitter is roughly breaking even, has 1,500 employees

By Akriti Sharma April 12 (Reuters) - Twitter Inc CEO Elon Musk said on Wednesday the social media company is "roughly breaking even," as most of its advertisers have returned…

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Tupperware warns it could go out of business

Tupperware, the US maker of food storage containers, has warned it faces going out of business if it cannot find new funding. Shares in the 77-year-old firm fell by almost…

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Vietnam to probe TikTok over “toxic” content

HANOI, April 6 (Reuters) - Vietnam will probe TikTok's operations in the country from May, as "toxic" content on the short-video platform "poses a threat to the country's youth, culture and tradition",…

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Accenture and Microsoft complete one of the largest cloud migrations in consumer goods industry

Accenture, Microsoft and Unilever have completed one of the largest and most complex cloud migrations in the consumer goods industry. The migration has helped Unilever – whose 400+ brands are…

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OpenAI CEO considers opening office as Japan govt eyes adoption

By Kantaro Komiya and Satoshi Sugiyama TOKYO, April 10 (Reuters) - OpenAI Chief Executive Sam Altman said on Monday he is considering opening an office and expanding services in Japan…

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Wizz Air the worst major airline for flight delays from the UK

Wizz Air was the worst major airline for flight delays from the UK last year, according to an investigation. The figures, from the Civil Aviation Authority and reported by the…

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Walmart aims for 65% of stores to be automation serviced by 2026

Walmart looks to speed up online-order deliveries Automation to hit lower-paid roles Sales forecasts affirmed for fiscal year, Q1 By Siddharth Cavale (Reuters) - Walmart Inc said it expects about…

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US weighs action against Russian cybersecurity firm Kaspersky Lab -WSJ

(Reuters) - The U.S. Department of Commerce is weighing an enforcement action against Russian cybersecurity company Kaspersky Lab, the Wall Street Journal reported citing people familiar with the matter. President…

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07

Apr

Revolut audit queries, skittish regulators complicate its UK licence bid

BDO's audit opinion draws regulatory scrutiny Revolut mulls changing auditor - source Revolut says company doesn't comment on regulatory applications By Stefania Spezzati and Amy-Jo Crowley LONDON, April 6 (Reuters)…

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Australia cancels Binance’s financial services licence amid probe

By Lewis Jackson To close its Australian derivatives business Will not impact Australians using its spot exchange product Also faces regulatory actions in U.S., UK, Japan, Italy and Singapore (Reuters)…

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Tesla cuts prices in US to spur demand

April 7 (Reuters) - Tesla Inc has slashed prices of its electric vehicles in the United States, its website showed, doubling down on a discount drive against the backdrop of…

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Airline SAS seeks equity bids as part of bankruptcy proceedings

April 5 (Reuters) - Scandinavian airline SAS AB said on Thursday it had initiated steps to raise equity and would seek bids as part of its ongoing Chapter 11 bankruptcy…

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OpenAI to propose remedies to Italian ban on ChatGPT

ROME/STOCKHOLM, April 6 (Reuters) - OpenAI plans to present measures to Italian authorities on Thursday to remedy concerns that led to a ban of its ChatGPT chatbot in Italy last…

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Colgate plans new, cheaper, recyclable toothpaste tube

By Jessica DiNapoli and Isla Binnie.N plans to launch a modified cheaper version of its recyclable toothpaste tube this year that uses less plastic and is easier to ship, the…

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Amazon closing online shop Book Depository

UK-based online store Book Depository is being closed down by its parent company, the US technology giant Amazon. Book Depository has told customers it will cease operations later this month…

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Exxon quits drilling in Brazil after failing to find oil

April 5 (Reuters) - Exxon Mobil Corp has ended a major campaign to find oil in Brazil, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.…

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Vivian Launches The Vivian Academy

Vivian has formally launched its Vivian Academy, a new business arm that leverages the company’s expertise, experience and strong professional network built throughout its seventy years of experience in the…

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Volkswagen not planning new combustion engine Golf – Automobilwoche

BERLIN, April 2 (Reuters) - Volkswagen does not plan to develop a new combustion engine generation of its legendary Golf car, brand chief Thomas Schaefer told autos publication Automobilwoche on…

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Up to 30% of jobs to be cut by enlarged UBS, Tages-Anzeiger reports

GENEVA, April 2 (Reuters) - The bank created by the UBS UBSG.S takeover of Credit Suisse CSGN.S is poised to reduce its workforce by 20-30%, Swiss daily Tages-Anzeiger reported on…

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Ryanair flights could become up to 15% more expensive

The chief executive of Ryanair has said journeys on the airline will become more expensive for consumers. Michael O'Leary said air fares could rise between 10% and 15% this year…

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In the background, Inditex heiress sets tone for Zara revamp

By Corina Pons and Helen Reid MADRID, (Reuters) - A year into chairing the world's biggest fashion retailer, Marta Ortega is trying to shake up Zara owner Inditex's fast-fashion image…

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Italy’s Illycaffe aims to make a bigger splash in the U.S. market, CEO says

By Elisa Anzolin MILAN, (Reuters) - Italian premium coffee maker Illycaffè, which reported a 16% increase in operating profit last year despite cost inflation, aims to expand in the United…

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Netflix restructures film group as it scales back movie output- Bloomberg News

March 30 (Reuters) - Netflix Inc is restructuring its film group, resulting in some layoffs and the departure of two of its most experienced executives, Bloomberg News reported . As…

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31

Mar

Banknote printer De La Rue investor calls for ouster of chairman

March 31 (Reuters) - Struggling British banknote printer De La Rue Plc's shareholder Crystal Amber Fund Ltd on Friday called for a general meeting in an effort to oust current…

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Prada aims to hire over 400 workers in Italy by year-end

MILAN, March 30 (Reuters) - Prada 1913.F aims to hire more than 400 people in Italy by the end of the year to strengthen its production capacity and maintain growth, the Italian luxury group said on Thursday. The…

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Primark’s UK workers to get 12% pay rise

LONDON, March 30 (Reuters) - Primark's 26,000 retail assistants in Britain are to get an average pay rise of 12% from April 1, the fashion retailer said on Thursday. Primark,…

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HSBC raises eurozone growth forecast on easing supply chain issues, inflation

March 30 (Reuters) - HSBC is expecting the eurozone economy to grow 0.6% in 2023 from its previous estimate of being flat, citing easing supply chain issues, falling wholesale energy…

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Nestle closes French Buitoni factory hit by E.coli outbreak

PARIS, March 30 (Reuters) - Swiss packaged-food giant Nestle NESN.Sis closing a frozen-pizza factory in northern France that saw sales fall sharply after an E. coli outbreak last year, it…

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UPDATED: Meta explores changes to ad policies in Europe

March 30 (Reuters) - Meta Platforms Inc META.O is exploring changes to its policies around personalized and political advertising for users in Europe, according to media reports, as it aims…

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misco Publishes 5th edition of Social Media Usage Trends Survey

Smartphone ownership reached 88% in 2023, laptop and desktop PC usage started to dip post-COVID, 52% of Instagram users follow influencers on the platform and more people than ever (90%)…

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Vodafone set to cut around 1,300 jobs in Germany

FRANKFURT (Reuters) - Vodafone wants to cut around 1,300 full-time jobs in Germany, its regional boss Philippe Rogge told German newspaper Handelsblatt. Administrative and management positions are predominantly affected, said…

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Focal Maritime strengthens investment in Group’s resources as shipping industry faces unprecedented transformation

The constant changes affecting the maritime industry in an increasingly complex international scenario were the main areas of focus of an intensive upskilling programme for the human resources of Focal…

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Malta Chamber says current crisis in public life creating reputational damage

The Malta Chamber of Commerce has appealed to the political class to take note of the serious repercussions of poor standards of governance and unethical behaviour by politicians that are…

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Credit Suisse’s troubles – spies, money laundering and takeover

(Reuters) - Switzerland's UBS has agreed to buy rival Credit Suisse for 3 billion Swiss francs ($3.23 billion) in stock in a shotgun merger engineered by Swiss authorities. Credit Suisse…

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Amazon, other retailers revamp ‘free’ shipping as costs soar

By Lisa Baertlein LOS ANGELES (Reuters) - There is no such thing as free shipping. Even so, Amazon.com Inc and other online retailers who use so-called free delivery to cultivate…

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Hershey looking to ‘eradicate’ lead, cadmium from chocolate -CFO

By Jessica DiNapoli HERSHEY, Pennsylvania, (Reuters) - Hershey Co is looking to reduce "trace" amounts of lead and cadmium in its chocolate, chief financial officer Steve Voskiul told Reuters this…

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Danone sources whey from east as costs in Europe rise

By Richa Naidu LONDON, March 24 (Reuters) - France's Danone is getting more whey and aluminium from parts of Asia, a top executive told Reuters, a move which analysts said…

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France to ban TikTok on work phones of civil servants; British parliament blocks TikTok

PARIS, March 24 (Reuters) - France will ban the use of Chinese-owned video-sharing app TikTok on the work phones of civil servants, Civil Service Minister Stanislas Guerini said on his…

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UK drops console concern over Microsoft-Activision deal

LONDON, March 24 (Reuters) - Britain's competition regulator said Microsoft's 69-billion purchase of "Call of Duty" maker Activision Blizzard would not harm competition in gaming consoles, removing a major obstacle…

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No reason to doubt profitable Deutsche Bank, German chancellor says

Deutsche Bank is a very profitable bank and there is no reason to doubt its future, German Chancellor Olaf Scholz said on Friday in response to the sharp fall in the…

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24

Mar

UPDATED: Binance halts deposits, withdrawals after technical glitches – CEO

LONDON, March 24 (Reuters) - Cryptocurrency exchange Binance has suspended deposits and withdrawals on its platform due to technical issues affecting its spot trading, Chief Executive Changpeng Zhao said in…

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Israel’s El Al to resume India flights using Saudi corridor

JERUSALEM, March 23 (Reuters) - El Al Israel Airlines said on Thursday it would resume flights to India in October after a three-year absence, citing shorter flight times due to…

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Maruti Suzuki India to hike prices

BENGALURU, March 23 (Reuters) - Maruti Suzuki India Ltd said on Thursday it would raise prices across models come April, as high domestic inflation and new emission norms pressure the…

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Google opens Italy’s second cloud region in Turin city

March 23 (Reuters) - Alphabet Inc's Google will set up its second cloud region in Italy, the company said on Thursday in a blog, underscoring the country's efforts to turn…

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23

Mar

Maltese Engineering Company Signs Representation Agreement with Global Brand CLARK

Stakeholders, such as governments, consumers and investors, are increasingly encouraging original equipment manufacturers (OEMs) to become more carbon-free to be able to propel theirs and their respective suppliers’ ESG metrics…

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MEA President Calls on the Authorities to Take Heed of Social Partners’ Recommendations in Favour of Good Governance

Ms Joanne Bondin addressed the Malta Employers Association’s 58th Annual General Meeting where she strongly mentioned the need for proactiveness by employers in the face of potential challenges brought about…

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Malta needs strategy to reduce dependency on foreign talent – MEA’s Joseph Farrugia

The Malta Employers’ Association rounded off its efforts related to its initiative entitled “Ensuring the Skills for Future Competitiveness” with a visit to the President of the Republic at San…

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20

Mar

Russian court freezes Volkswagen assets in Russia

By Gleb Stolyarov March 20 (Reuters) - A Russian court on Monday froze all Volkswagen assets in Russia, in the latest obstacle to the German carmaker's year-long efforts to wind…

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Microsoft plans new app store for games on iPhones and Android smartphones

Microsoft is preparing to launch a new app store for games on iPhones and Android smartphones as soon as next year if its $75bn acquisition of Activision Blizzard is cleared…

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UBS seals Credit Suisse takeover in bid to calm markets

March 19 (Reuters) - UBS UBSG.S sealed a deal to buy rival Swiss bank Credit Suisse CSGN.S to avoid further market-shaking turmoil in global banking, Swiss authorities said on Sunday. Swiss regulators have been forced to…

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UK’s John Lewis eyes end of 100% staff ownership – The Sunday Times

March 18 (Reuters) - British retailer John Lewis, which has been 100% owned by its staff, is considering diluting its partnership structure, The Sunday Times reported . The report said…

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Stellantis invests 200 mln euros to produce Fiat cars in Algeria

PARIS, March 19 (Reuters) - Carmaker Stellantis will spend more than 200 million euros ($213.32 million) to manufacture four Fiat models in Algeria, it said on Sunday. Construction of the…

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The Ferrari Roma Spider unveiled

The Ferrari Roma Spider, the latest model from the Maranello marque, was unveiled this week. This timelessly elegant, high-performance car is a contemporary take on the chic, pleasure-seeking Italian lifestyle…

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17

Mar