Corporate Dispatch

IKEA offers cash, larger discounts to help staff weather soaring living costs

STOCKHOLM (Reuters) - IKEA retailer Ingka Group is launching a 10 million euro ($10 million) social fund and bigger staff discounts to support employees struggling to cope with higher living…

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11

Nov

Eni can double Italian gas production in 30-36 months, CEO says

MILAN (Reuters) - In the next two and a half to three years Eni could almost double its gas production in Italy, the energy group's CEO said, commenting on the…

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ITA Airways to expand fleet with 39 new aircraft in 2023

ROME, Nov 11 (Reuters) - ITA Airways will next year refresh its fleet with 39 new aircraft, allowing it to serve more long-distance destinations, the state-owned successor to Alitalia said…

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Twitter brings back ‘official’ account tag; $8 blue-tick option disappears

Nov 11 (Reuters) - Twitter Inc said on Friday it had reinstated the "official" badge given to some accounts, days after removing it, while several users reported the new $8…

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Musk warns of Twitter bankruptcy as more senior executives quit

(Reuters) - Twitter Inc's new owner Elon Musk raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a U.S. privacy…

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Snam confirms 2022 guidance, aims to boost Italy’s gas storage

MILAN, Nov 10 (Reuters) - Italian gas grid operator Snam on Thursday confirmed its guidance for full-year net profit after reporting a 10% rise in nine-month revenue to 2.4 billion…

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Emirates airlines swings to profit on travel recovery

DUBAI, Nov 10 (Reuters) - Dubai state-owned airline Emirates swung to a record profit of 4 billion dirhams ($1.09 billion) in the first-half of its 2022/2023 financial year, buoyed by…

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Telecom Italia shares bounce on brighter signs for business

MILAN, Nov 10 (Reuters) - Telecom Italia (TIM) shares rose more than 5% on Thursday after the former phone monopoly flagged some improvement in its battered domestic business despite tough…

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Microsoft’s president warns of talent shortage for tackling climate change

(Reuters) - Thousands of businesses will fail to meet pledges to combat climate change unless they start training employees on sustainability, Microsoft Corp's President Brad Smith told Reuters. Speaking ahead…

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Don’t panic, we’ve ordered more turkeys this year, says Sainsbury’s

LONDON (Reuters) - Sainsbury's, Britain's second-biggest supermarket group, has ordered more turkeys for Christmas this year than last year, giving it a buffer in case avian flu hinders supply, its…

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Employees file class action against Twitter as Musk lays off half the workforce

(Reuters) - Twitter Inc laid off half its workforce on Friday but said cuts were smaller in the team responsible for preventing the spread of misinformation, as advertisers pulled spending…

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Trio to lead energy-drinks giant Red Bull after co-founder’s death

VIENNA, Nov 4 (Reuters) - Energy-drinks giant Red Bull will be headed by a board consisting of three current members of senior management following the death of co-founder Dietrich Mateschitz,…

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UPDATED: HSBC top shareholder Ping An urges aggressive cost cuts, renews spin-off push

HONG KONG, Nov 4 (Reuters) - HSBC Holdings' HSBA.L largest shareholder Ping An has urged the lender to cut costs aggressively and exit sub-scale non-Asian markets as the Chinese financial…

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UPDATED: Twitter temporarily closes offices as layoffs begin

Nov 4 (Reuters) - Twitter Inc temporarily closed its offices on Friday after telling employees they will be informed by email later in the day whether they are being laid…

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Sainsbury’s defies doomsters as Christmas shopping starts early

LONDON, Nov 3 (Reuters) - Cash-strapped Britons are stocking up on Christmas treats earlier than usual and planning to eat more at home, helping Sainsbury's to defy expectations of a…

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Meta adds new tools to help content creators make money on Instagram

(Reuters) - Meta Platforms said it was adding a host of new features to Instagram, including a tool to trade digital collectibles, in a move that will help content creators…

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TikTok tells European users its staff in China get access to their data

TikTok is spelling out to its European users that their data can be accessed by employees outside the continent, including in China, amid political and regulatory concerns about Chinese access…

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Uber whistleblower says current business model ‘absolutely’ unsustainable

LISBON (Reuters) - Mark MacGann, the whistleblower behind the so-called Uber Files, said that the ride-hailing company seemed to be taking steps toward improving its work culture, but that its…

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Pfizer, BioNTech start COVID-flu combination vaccine study

Nov 3 (Reuters) - U.S. drugmaker Pfizer Inc and its German partner BioNTech have started an early-stage study to evaluate a combination vaccine targeting COVID-19 and influenza, the companies said…

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03

Nov

Airbnb faces light-touch regulation under EU plan

BRUSSELS, Nov 3 (Reuters) - The European Commission will propose light-touch rules for Airbnb ABNB.O and other short-term home rental companies, people familiar with the matter said. Under the draft…

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Top French court backs order for websites to remove marketplace Wish

PARIS, Nov 3 (Reuters) - France's constitutional court has backed an earlier decision by the country's consumer watchdog ordering websites to strip the company Wish from their listings, said the…

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Meta’s Zuckerberg announces launch of ‘Communities’ on WhatsApp

BENGALURU, Nov 3 (Reuters) - WhatsApp is globally rolling out a feature called Communities to organize various chat groups in larger structures, as well as other features such as bigger group video…

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Bounty in Celebrations tubs could be a lot harder to find this Christmas

Bounty bars in Celebrations tubs could be a lot harder to find this Christmas, after Mars Wrigley made the controversial decision to take them out of some tubs in a…

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Britain’s Sainsbury’s to recruit 18,000 workers for Christmas period

LONDON, Nov 2 (Reuters) - British supermarket group Sainsbury's said on Wednesday it planned to recruit 18,000 temporary workers, as competition for staff for the busy Christmas trading period heats…

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Maersk sees demand for container shipping slowing

OSLO, Nov 2 (Reuters) - Shipping group Maersk reported third-quarter earnings above expectations on Wednesday but lowered its outlook for the growth of global container demand this year amid concerns…

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Wizz Air plans to grow by 35% as travel demand holds up

LONDON, Nov 2 (Reuters) - Budget airline Wizz Air said it planned to grow its capacity by 35% in the six months to the end of March as demand for…

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Ryanair breaks another monthly traffic record in October

DUBLIN, Nov 2 (Reuters) - Ryanair flew 15.7 million passengers in October, a record high for the month and up 14% on pre-COVID levels, Europe's largest airline by passenger numbers…

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Elon Musk says $8 monthly fee for Twitter blue tick

Elon Musk has said Twitter will charge $8 (£7) monthly to Twitter users who want a blue tick by their name indicating a verified account. As part of changes after…

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Italy’s Campari to buy initial 70% of Wilderness Trail Distillery for $420 mln

MILAN, Oct 31 (Reuters) - Italian spirits group Campari said on Monday it had reached an agreement to buy an initial 70% stake in Wilderness Trail Distillery for $420 million,…

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Output of Apple iPhones at major China plant could fall 30% amid COVID curbs

TAIPEI, Oct 31 (Reuters) - Production of Apple Inc's iPhones could slump by as much as 30% at one of the world's biggest factories next month due to tightening COVID-19…

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Twitter trolls bombard platform after Elon Musk takeover

Twitter has been hit by a coordinated trolling campaign in the wake of Elon Musk’s takeover, with more than 50,000 tweets from 300 accounts bombarding the platform with hateful content.…

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Ryanair threatens to quit Ireland

Ryanair would quit Ireland if Sinn Féin takes power and “messes around” with the country’s competitive corporate tax regime, its chief executive has warned. Left-wing Sinn Féin, which now enjoys…

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Cathay Pacific to resume some flights using Russian airspace

Oct 30 (Reuters) - Hong Kong's Cathay Pacific Airways Ltd 0293.HK will resume using Russian airspace on some flights, the Hong Kong-based airline said on Sunday, restarting flights it had…

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Musk fired Twitter execs in attempt to avoid payouts, layoffs planned – reports

(Reuters) - Twitter's new owner Elon Musk fired top executives in an effort to avoid hefty severance payouts, while lining up other layoffs as soon as Saturday to avoid stock…

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Revolut boss renounces Russian citizenship

The chief executive of Revolut has renounced his Russian citizenship, as he continues his long pursuit of a UK banking licence and his father is sanctioned by Ukraine for his…

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Visa profit beats as payment volumes surge on travel demand

(Reuters) - Visa Inc reported better-than-expected quarterly earnings this week as more Americans took advantage of a stronger dollar to fly to international destinations and splurge on shopping and entertainment.…

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Responsibility towards profession and community highlighted as over 200 accountants join Malta Institute of Accountants

The Malta Institute of Accountants has opened its door to over 200 accountants as new members following successful completion of their studies through the University of Malta and the ACCA…

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Malta Development Bank hosts 30 promotional banks for the ELTI General Assembly 2022

The Malta Development Bank has welcomed senior officials from 30 other promotional banks as the Bank hosted this year’s annual General Assembly of the European Long-Term Investors Association (ELTI). ELTI…

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Volkswagen: Supply chain problems now the rule, not exception

BERLIN, Oct 28 (Reuters) - Volkswagen's chief executive warned on Friday that supply chain problems were now the rule and not the exception, with the carmaker sitting on 150,000 unfinished…

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Ryanair’s handling services call off strikes at 22 Spanish airports

MADRID, Oct 28 (Reuters) - Workers at Azul Handling, the ground handling company servicing Ryanair in 22 Spanish airports, called off a plan to hold several 24-hour strikes between Oct.…

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Microsoft with a first-of-a-kind hydrogen generator that produces no emissions

Microsoft has unveiled a first-of-a-kind hydrogen generator running at three megawatts that produces no emissions. Whilst backup generators which support continuous datacentre operations in the event of power outages and…

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Elon Musk completes $44bn Twitter takeover

(Reuters) - Elon Musk became Twitter Inc's new owner on Thursday, firing top executives he had accused of misleading him and providing little clarity over how he will achieve the…

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Energy crisis risks upending Europe’s essential medicine supply chains – report

LONDON, Oct 27 (Reuters) - Surging energy costs in Europe risk accelerating the exodus of companies critical to the manufacture of essential medicines, further endangering drug supply chains hit by…

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Carlsberg CEO says inflation could hit beer sales in 2023

COPENHAGEN, Oct 27 (Reuters) - Danish brewer Carlsberg has seen little evidence of rising inflation hitting beer sales, but that could change going into 2023 as brewers continue to raise…

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CoachEd6 – Towards Quality Coaching Education

CoachEd6 is an Erasmus+ funded project led by the Malta College of Arts, Science and Technology (MCAST). The aim of the project was to develop four MQF (Malta Qualifications Framework)/EQF…

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Down on chips, Toyota goes back to basics with car keys

TOKYO, Oct 27 (Reuters) - Toyota Motor Corp has discovered that even keys can be too "smart" for their own good. The world's top-selling carmaker said on Thursday it would…

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Lufthansa forecasts strong air travel demand in months ahead

FRANKFURT, Oct 27 (Reuters) - Germany's Lufthansa gave an upbeat forecast for air travel on Thursday, saying it expected demand to remain strong, with high average yields, as holidaymakers splash…

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Mercedes-Benz lifts profit forecast as luxury cars boom

BERLIN, Oct 26 (Reuters) - Mercedes-Benz raised its full-year profit forecast on Wednesday as strong demand for luxury cars and cost savings offset the supply chain bottlenecks that have hampered…

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Ryanair’s handling services plan strikes at 22 Spanish airports

MADRID, Oct 26 (Reuters) - Workers at Azul Handling that provides ground handling services to Ryanair at 22 Spanish airports plan to hold several 24-hour strikes between Oct. 28 and…

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Heineken cautious as European beer drinking starts to slow

BRUSSELS, Oct 26 (Reuters) - Heineken, the world's second-largest brewer, has seen signs of slowdown in demand for its beer in some European markets over recent weeks, it said on…

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BASF says European operations need to be cut to size ‘permanently’

FRANKFURT, Oct 26 (Reuters) - BASF said costs at its European sites must be cut to a "permanently" smaller size because of a triple burden of sluggish growth, high energy…

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Thai businesswoman buys Miss Universe pageant for $20 mln

BANGKOK, Oct 26 (Reuters) - A Thai celebrity media tycoon and transgender rights advocate has bought the Miss Universe Organization for $20 million, marking the first time the beauty pageant…

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Microsoft beats expectations with first-quarter revenue

Microsoft has beaten economists' expectations, reporting first-quarter revenue of $50.12bn (£43.66bn). The figure compares with $45.32bn a year earlier and analysts' forecasts of $49.61bn, according to Refinitiv IBES data. Products…

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Ford Fiesta car to be discontinued

The popular Ford Fiesta is set to be discontinued as early as next year as costs of parts rise and drivers opt for SUVs. By the end of June next…

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Amazon faces $1 bln lawsuit in UK for ‘favouring its own products’

LONDON (Reuters) - Amazon.com Inc is facing a lawsuit in Britain for damages of up to 900 million pounds ($1 billion) over allegations the online marketplace abused its dominant position…

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Ann Fenech elected President of the International Maritime Committee

The Malta Maritime Forum has announced that Board Member and indeed one of its Founders, Dr Ann Fenech has been elected President of the Comité Maritime International. In fact, Dr…

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Hermes plans big price rises, says no sign of slowdown

PARIS, (Reuters) - Birkin bag maker Hermes flagged plans to hike prices by 5% to 10% in 2023 on rising costs and currency fluctuations, much more than in the past,…

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