Corporate Dispatch

Belgian Ryanair pilots to join French strike on July 23-24

BRUSSELS, July 11 (Reuters) - Belgian Ryanair pilots will join the strike planned by their French counterparts on July 23 and 24, Belgian public service broadcaster RTBF reported on Monday. Dider Lebbe,…

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Wizz Air warns of flight cuts due to airport chaos

July 11 (Reuters) - Wizz Air expects to have to cut flights this summer due to labour shortages and strikes at European airports, the budget airline said on Monday, sending its shares…

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UPDATED: STMicro, GlobalFoundries plan new French chip factory

PARIS/STOCKHOLM, July 11 (Reuters) - Chipmakers STMicroelectronics and GlobalFoundries announced on Monday plans to build a semiconductor factory in France, drawing on funding from the government, the latest move to boost output in…

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Swiss travel retailer Dufry to acquire Italy’s Autogrill

July 11 (Reuters) - Duty-free retailer Dufry said on Monday it would acquire Italian airport and motorway caterer Autogrill , expanding the Swiss company's growth opportunities in international markets as travel rebounds. Italy's…

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Dutch airline KLM to scrap up to 20 European flights a day

AMSTERDAM, July 8 (Reuters) - KLM, the Dutch arm of Air France KLM , on Friday said it will scrap up to 20 daily flights to European destinations because of staff shortages. KLM…

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Air Canada temporarily bans pets from baggage hold, cites delays

MONTREAL (Reuters) - Air Canada AC.TO said it will not allow animals in the baggage hold until Sept. 12 due to "longer than usual" delays at airports, as carriers and airports wrestle with complaints over lost…

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Halifax says UK house prices surge by 13%, most since 2004

LONDON, July 7 (Reuters) - House prices in Britain rose by the most since 2004 in the 12 months to June, leaping by 13% as better-off households defied the broader cost-of-living squeeze…

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Malta Development Bank appoints new CEO

The Board of Directors of the Malta Development Bank announces the appointment of Mr Paul V. Azzopardi as the Bank’s Chief Executive Officer. Mr Azzopardi is taking over from Mr…

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Thousands of jobs to go under Telecom Italia break-up plan

ROME, July 7 (Reuters) - Telecom Italia (TIM) is ready to part ways with its fixed network assets under an overhaul plan that includes at least 9,000 jobs cuts by 2030 as part…

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UPDATED: Lufthansa to cancel further flights from Friday

FRANKFURT, July 7 (Reuters) - German airline Lufthansa will cancel further domestic and European flights from Frankfurt airport between Friday and July 14, it said on Thursday. Earlier, broadcaster n-tv reported that a…

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Crypto lender Voyager files for bankruptcy

July 6 (Reuters) - Voyager Digital VOYG.TO said on Wednesday it had filed for bankruptcy, a week after the crypto lender suspended withdrawals, trading and deposits to its platform as it sought additional time…

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Singapore-based crypto lender Vauld suspends withdrawals

HONG KONG, July 4 (Reuters) - Singapore-based crypto lending and trading platform Vauld said on Monday it would suspend withdrawals and trading and seek new investors, the latest sign of stress in…

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Italy’s TIM to shift half of domestic staff into NetCo

MILAN, July 4 (Reuters) - Telecom Italia (TIM) plans to shift about 21,000 workers, or nearly half of its 42,500 staff in Italy, into a network company it intends to create as part…

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Brussels Airlines to cancel 700 flights over summer holiday

The Belgian subsidiary of Lufthansa , Brussels Airlines, is cancelling close to 700 flights over the summer holiday period, around 6% of those scheduled, to reduce workload and avoid strikes, the airline said on Monday. "We are meeting…

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UPDATED: SAS warns survival at stake as pilots strike over wages

STOCKHOLM, July 4 (Reuters) - Wage talks between Scandinavian airline SAS and its pilots collapsed on Monday, triggering a strike that puts the future of the carrier at risk as the summer vacation…

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Ryanair records busiest month ever in June, load factor hits 95%

DUBLIN, July 4 (Reuters) - Ryanair had its busiest month ever in June as it flew 15.9 million passengers, up from just 5.3 million a year earlier and topping a previous high set in…

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Lamborghini to invest at least 1.8 bln euros in path towards electrification

MILAN (Reuters) - Italian supercar brand Lamborghini plans to invest at least 1.8 billion euros ($1.88 billion) to produce a hybrid lineup by 2024 and more to bring out its fully electric…

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Microsoft introduces Microsoft Entra to help customers secure access in a connected world

Microsoft announced a new product family, Microsoft Entra, which encompasses all of Microsoft’s identity and access capabilities. Microsoft Entra includes Azure Active Directory (Azure AD) as well as two new…

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FACTBOX-Companies count the cost of ditching Russia

(Reuters) - Multinationals that announced their exit from Russia, or suspension of activities there, after Moscow's invasion of Ukraine on Feb. 24 have started to report associated losses. These are firms, listed…

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Microsoft launches APAC Enabler Mentorship Program in nine countries

Microsoft incubated and launched the APAC Enabler Program in 2020, a global first for the company that focused on improving the employability of people with disabilities (PwDs) in Asia Pacific…

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What happens to Italian tycoon Del Vecchio’s $29 bln fortune?

Leonardo Del Vecchio leaves a business empire worth 27 billion euros ($29 billion), ranging from the eyewear company that was his life's work to the stake in merchant bank Mediobanca…

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Volvo to create 3,300 jobs at $1.25 bln EV plant in Slovakia

OSLO (Reuters) - Volvo Car Group will invest 1.2 billion euros ($1.25 billion) to build an electric vehicle (EV) plant in Slovakia, the Sweden-based automaker said. The site, Slovakia's fifth, will bolster…

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Crypto hedge fund Three Arrows files for Chapter 15 bankruptcy

(Reuters) - Crypto hedge fund Three Arrows Capital (3AC) is seeking protection from creditors in the United States under Chapter 15 of the U.S. Bankruptcy Code, which allows foreign debtors to shield…

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China’s top three airlines to buy almost 300 Airbus planes

BEIJING/SYDNEY, July 1 (Reuters) - China's three biggest state-owned airlines announced plans on Friday to buy a total of almost 300 Airbus jets, the biggest plane order by Chinese carriers since the…

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Air France negotiating more job cuts

PARIS (Reuters) - Air France is negotiating further job cuts with trade unions, Le Figaro reported, having already culled thousands of positions through voluntary departures over the past two years. France's flagship…

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Amazon to allow Prime users to unsubscribe in two clicks after EU complaints

BRUSSELS, July 1 (Reuters) - U.S. online retail giant Amazon has made it easier for users to cancel their subscriptions to its fast shipping club Prime with just two clicks, following complaints from…

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UPDATED: Barry Callebaut says no tainted chocolate went to consumers

ZURICH, July 1 (Reuters) - No tainted chocolate from a Belgian plant hit by a salmonella outbreak made it to retail consumers, Barry Callebaut BARN.S said on Friday. "After reaching out to all customers…

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Shell CEO says spare capacity is running ‘very low’

SINGAPORE, June 29 (Reuters) - Uncertainty in global oil and gas markets could stay for some time to come as spare capacity is very low while demand is still recovering, Shell Chief Executive…

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Diageo to wind down Russia operations by year-end

Diageo, the world's largest spirits maker, will wind down its business operations in Russia over the next six months, it said on Tuesday, becoming the latest Western brand to withdraw.…

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Airbnb permanently bans parties and events around the world

Airbnb Inc announced it will make permanent its ban on parties in homes listed on its platform after seeing a sharp drop in reports of unauthorized gatherings since the prohibition…

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Volt, Australia’s first online-only bank, shuts down due to fund-raising woes

June 29 (Reuters) - Volt Bank Ltd, the first exclusively online bank to gain an Australian banking licence, said it would shut down, returning deposits and selling its mortgage book as it…

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AI, ESG transformation can provide opportunities for business growth – accountants

AI, ESG transformation can provide opportunities for business growth - accountants As economies seek to renew themselves in a post-pandemic scenario, firms can capitalise on the opportunities arising from changing…

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Microsoft partners with World Bank to improve disability representation

Microsoft announced a collaborative initiative with the World Bank to help bridge the disability divide through the use of digital technologies. According to a report by the World Bank, many…

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Lufthansa expects flight operations to return to normal in 2023 – Welt

BERLIN (Reuters) - Lufthansa does not expect its global airline operations to return to normal until 2023 after staff shortages and booming demand amid the lifting of COVID-19 restrictions forced…

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Electrofix Group Acquires Arjakon Ltd

Arjakon’s Airwell products on Electrofix’ ECODarna Stand at Trade Fair Electrofix Group, a leading Maltese company specialised in renewable energy products, announces the acquisition of Arjakon Ltd, a leading importer…

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Asda chairman says Britain must do more to help poor with cost of living crisis

LONDON, June 22 (Reuters) - The British government needs to do more to help those on lower incomes cope with the cost of living crisis and should cut VAT sales tax, the…

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20

Jun

Danone trims product range as shoppers balk at high prices

LONDON, June 20 (Reuters) - French food giant Danone is cutting the variety of products it sells to retailers to reduce costs, a top executive told Reuters, meaning yoghurt fans may in future miss out…

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National Lottery plc Concludes Agreement With Lottery Agents

National Lottery plc a subsidiary of the IZI Group and the new operator of the National Lottery of Malta as from July 5th, 2022, has announced in a joint statement…

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UPDATED: EasyJet cuts more flights to try to manage disruption

LONDON, June 20 (Reuters) - Low-cost airline easyJet EZJ.L said on Monday it was cutting thousands more flights this summer after London Gatwick and Amsterdam airports reduced capacity and it battled staff shortages on…

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Ferrero chocolate factory allowed to reopen in Belgium after salmonella cases

The Belgian food-safety authorities on Friday allowed a Belgium-based Ferrero chocolate factory to reopen under conditions, after it shut in early April following cases of salmonella food poisoning reported in…

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Ryanair cabin crew to stage strike in June in Belgium and elsewhere in Europe

Trade unions representing cabin crew of Ryanair plan a strike later in June in Belgium and elsewhere in Europe, increasing disruption for passengers to and from Belgium during a peak…

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UK’s Tesco sees early signs of changing customer behaviour as inflation hits

LONDON, June 17 (Reuters) - Britons are buying less, switching to cheaper products and shopping more often as they try to cope with soaring inflation, supermarket giant Tesco TSCO.L said on Friday, describing the…

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17

Jun

Elon Musk’s SpaceX fires at least five for letter criticizing him

June 17 (Reuters) - At least five employees were fired by private rocket company SpaceX after drafting and circulating an open letter criticizing founder Elon Musk and calling on executives at the…

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Chamber of Advocates describes Magistrate’s reaction as ‘disproportionate’

The Chamber of Advocates has in a statement this afternoon slammed Magistrate Yana Micallef Stafrace's reaction in Court, describing as 'unacceptable' a reaction following PN MP Janice Chetcuti's interaction with…

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EasyJet gains EU okay to acquire Lisbon airport slots from TAP

BRUSSELS, June 16 (Reuters) - British low-cost carrier EasyJet EZJ.L on Thursday won EU antitrust approval to acquire 18 daily slots at Lisbon airport from Portuguese airline TAP as part of the latter's rescue…

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Spotify to slow hiring by 25% amid economic uncertainty

(Reuters) - Spotify Technology SA will reduce its hiring by 25%, according to a source familiar with the contents of a companywide email, making it the latest tech company to curb expenses…

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Unilever switches some ingredients to adapt to commodities shortages

LONDON, June 16 (Reuters) - As commodities - from crude oil to sunflower oil - remain in short supply, Britain's Unilever has changed the ingredient makeup for some of its products like deodorants and…

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Ferrari promises ‘even more unique’ electric cars

MARANELLO, Italy, June 16 (Reuters) - Electric and hybrid models should make up 80% of Ferrari's RACE.MI sales by 2030, the luxury carmaker told investors on Thursday, vowing to produce "even more unique" cars…

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GO To Sign 6 New Television Productions; Commitment To Support Production of Maltese TV Content

Following last April’s announcement of the return of the popular TV series Iċ-Ċaqqufa’s fourth season exclusively to GO Originals, GO is announcing a new production - l-iSpettur Leonard, a spinoff…

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16

Jun

Goodbye Internet Explorer

After 27 years, Microsoft has finally bid farewell to the web browser Internet Explorer, and will redirect Explorer users to the latest version of its Edge browser. As of June…

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Revlon files for bankruptcy protection

Cosmetics maker Revlon Inc filed for Chapter 11 bankruptcy protection after struggling to compete with online-focused upstart brands in recent years. The nail polish and lipstick maker listed assets and…

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Crypto giant Binance opens 2,000 positions for hiring – CEO

June 15 (Reuters) - Cryptocurrency exchange Binance has opened 2,000 positions for hiring, Chief Executive Officer Changpeng Zhao said on Wednesday, a sharp contrast to a slew of job cuts by companies…

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15

Jun

Poland’s LPP to open first stores in Italy and Greece in December

GDANSK, June 15 (Reuters) - Poland's biggest clothing retailer LPP will open its first brick and mortar stores in Italy and Greece in December, Chief Financial Officer Przemyslaw Lutkiewicz confirmed during a…

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Moderna to invest 500 mln euros in Spain

MADRID, (Reuters) - Moderna plans to invest around 500 million euros ($520.60 million) in a new laboratory in Spain to boost its production of vaccines, Spanish Prime Minister Pedro Sanchez announced. Sanchez…

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UK travel and leisure firms gets summer travel boost

June 15 (Reuters) - British retailer WH Smith and hotel group Whitbread are seeing business return to pre-pandemic levels, with pent-up demand for summer vacations boosting the leisure industry's recovery from the COVID-19 crisis.…

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UPDATED: Airbus A321XLR jetliner stages maiden flight

HAMBURG, June 15 (Reuters) - Airbus AIR.PA on Wednesday launched the maiden flight of its newest and largest narrowbody airliner, the A321XLR, as the European planemaker seeks to capitalise on lucrative demand for long-range…

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15

Jun

Revolut launches in five more countries

LONDON, June 15 (Reuters) - Digital banking platform Revolut said it was launching a streamlined version of its app in Sri Lanka, Chile, Ecuador, Azerbaijan and Oman, allowing customers to transfer money…

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