Corporate Dispatch

Zoom’s Christmas gift: no cap on call lengths over the holidays

LONDON (Reuters) - Friends and families kept apart by COVID this Christmas and New Year will not find their virtual gatherings over Zoom cut short by the usual 40-minute limit…

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Nationalised Alitalia aims to break even in 2022

MILAN (Reuters) - A new, downsized Alitalia aims to break even in terms of core profit in 2022, excluding aircraft costs, the state-owned carrier’s CEO-elect said on Friday. “We are…

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Serie A aims to raise 3.5 billion euros from domestic rights sale – sources

MILAN (Reuters) - Italy’s top flight soccer league Serie A aims to raise at least 1.15 billion euros per season over the next three years from the sale of pay-TV…

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EU’s Google-Fitbit approval sets risky precedent

LONDON - Margrethe Vestager is sending mixed messages to big U.S. technology groups. Days after vowing to crack down on companies like Facebook and Amazon.com through a major new legislative…

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Coca-Cola to cut 2,200 jobs

Coca-Cola Co will cut 2,200 jobs globally, including 1,200 in the United States, it said on Thursday, as the economic fallout from the COVID-19 pandemic forces the world's largest soda maker…

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Nutella’s Ferrero to acquire Eat Natural

The Ferrero Group, a global confectionery group, today announced a definitive agreement pursuant to which it will acquire Eat Natural, the maker of high-quality cereal bars, toasted muesli and granola.…

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In rare move, Japan sells gold to fill budget hole

TOKYO, Dec 17 (Reuters) - Japan has sold 80 tons of gold used for minting coins to another arm of the government to fund part of its huge stimulus package…

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European new car sales drop by 13.5% y/y in November – ACEA

BERLIN (Reuters) - European car registrations dropped in November, declining for the second month in row, industry data showed on Thursday, as measures to restrict a second coronavirus wave hit…

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Malta’s Airport to expand and build a new apron as it sets course for future

Malta International Airport today officially set the ball rolling in relation to its multi-million investment in a new apron - Apron X - with the publication of a call for…

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Nokia says margins at networks business will be zero in 2021

Telecoms equipment maker Nokia's operating margins at its networks business will be zero in 2021, it said on Wednesday in an update on strategy to streamline the Finnish company into…

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Finland plans to help Finnair with 400 million euro loan

Finland is preparing to support national carrier Finnair with an unsecured hybrid loan of up to 400 million euros ($486 million), the company said on Wednesday. The Finnish government said…

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No toys this Christmas, Greek retailer Jumbo says toys stuck at ports because of Covid-19

Greek retailer Jumbo said thousands of containers filled with toys it ordered months before Christmas remain stuck at ports around the world as warehouses in Greece are overwhelmed due to…

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GO’s Mobile Trade-in Offer Supports A Cleaner Environment

Earlier this year, GO Ventures, a start-up fund set up by GO plc, concluded an investment in the device lifecycle management platform Servify. This international partnership has translated into incredible…

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Aphria, Tilray in deal to become world’s biggest cannabis company

Canadian pot producer Aphria and rival Tilray Inc have agreed to combine their operations, Bloomberg News reported on Wednesday. The all-stock deal will create a new company with an equity…

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Pornhub pulls videos from unverified users after allegations of illegal content

Dec 14 (Reuters) - Pornhub said on Monday it had pulled content uploaded by unverified users from its platform, days after Mastercard and Visa halted payments on the sex videos…

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EU states to act to implement any UK trade deal swiftly – sources

BRUSSELS (Reuters) - The 27 EU member states welcomed Sunday’s extension of UK trade talks and committed to taking “all the necessary steps” to put in place any deal reached…

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Hitachi to sell overseas home appliance business to Turkey’s Arcelik

Japan's Hitachi Ltd plans to sell a 60% stake in its overseas home appliance business to Turkish consumer electronics maker Arcelik AS for about $300 million, and jointly operate the…

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Authentic Brands plotting double takeover of Debenhams, Arcadia

Authentic Brands is plotting a double takeover of collapsed department store chain Debenhams and Topshop-owner Arcadia Group, The Daily Telegraph newspaper reported, citing sources. Authentic Brands, owner of the New…

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Italian prosecutors complete probe into Vivendi’s alleged market manipulation to buy stake in Mediaset

MILAN, Dec 12 (Reuters) - Italian prosecutors have completed a probe into Vivendi's Vincent Bollore and Arnaud De Puyfontaine for alleged market manipulation and obstruction of regulators, tax police said…

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Fear for logistics nightmare in British ports after Dec. 31

LONDON, Dec 12 (Reuters) - Britain will fast track the movement of some perishable goods when its Brexit transition period with the European Union ends on Dec. 31 as part…

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Fiat CEO Manley in pole position for top job at Ferrari

MILAN (Reuters) - Fiat Chrysler Chief Executive Mike Manley is in pole position to take over the top job at Ferrari, Italian daily Il Messaggero said on Saturday in an…

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UK Supreme Court enables £14 billion class action against Mastercard

LONDON (Reuters) -The UK Supreme Court on Friday allowed a 14 billion pound ($18.5 billion) class action to proceed against Mastercard for allegedly overcharging more than 46 million people in…

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Gaming companies ‘NetEnt’ & Evolution Gaming 324 dismissals on hold as court upholds GWU’s request

A court has provisionally upheld a warrant of prohibitory injunction called for by the General Workers’ Union in an attempt to block a mass lay-off plan by gaming company NetEnt,…

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Sony to buy AT&T’s anime business for $1.18 bln to expand global footprint

Sony Corp will buy AT&T Inc's animation business Crunchyroll for $1.175 billion, the two companies said on Thursday, as the Japanese electronics conglomerate aims to beef up its entertainment content…

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Mastercard, Visa halt payments on Pornhub over allegations of child sex-abuse content

(Reuters) - Mastercard Inc and Visa Inc on Thursday stopped processing payments on Pornhub after a New York Times report last week that many videos posted on the adult website…

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Lufthansa to lay off 1,000 pilots in Q2 if no wage deal reached – CEO

BERLIN, Dec 11 (Reuters) - Lufthansa will have to lay off 1,000 pilots in the second quarter if it cannot seal a wage agreement with unions, Chief Executive Carsten Spohr…

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BT sells two business units in Italy to Telecom Italia

Telecom Italia (TIM) has signed a preliminary agreement with BT to buy two of the British telecoms group's business units in Italy, the companies said in a joint statement on…

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Honda hopes to resume UK car output on Monday after parts shortage

Japanese carmaker Honda said it hoped to restart production at its British factory on Monday after temporarily halting output because of transport-related delays that have caused a shortage of parts.…

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New, state-owned Alitalia may replace old carrier in April -CEO

A new, state-owned Alitalia could replace the old carrier in April once it has secured the approval of both the Italian parliament and the European Commission, the manager chosen to…

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Facebook faces U.S. lawsuits that could force sale of Instagram, WhatsApp

Facebook Inc could be forced to sell its prized assets WhatsApp and Instagram after the U.S. Federal Trade Commission and nearly every U.S. state filed lawsuits against the social media…

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TUI slumps to a 3 billion euros loss during the pandemic

TUI Group on Thursday posted an annual loss of 3 billion euros ($3.6 billion) as the pandemic choked travel demand and finances of the world's biggest holiday group, forcing it…

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Toyota unveils new fuel cell car in fresh push on hydrogen technology

TOKYO, Dec 9 (Reuters) - Japan's Toyota Motor Corp put its revamped Mirai hydrogen fuel cell car, with 30% greater range, on sale on Wednesday in a fresh push to…

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Security firm G4S agrees for Allied Universal takeover

Security group G4S has agreed to a 245 pence per share takeover offer from U.S.-based Allied Universal, the companies said on Tuesday, days after Canada’s GardaWorld had sweetened its bid…

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Uber abandons effort to develop own self-driving vehicle

Uber has abandoned efforts to develop its own self-driving car, bringing to an end one of the most ambitious attempts to develop a fully autonomous vehicle. Financial Times reports that…

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IKEA to stop printing its famous catalogue

Ikea has decided to stop publishing its famous print catalogue after 70 years. "Consumer behavior has changed and fewer people read the Ikea catalog than a few years ago," the…

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Deutsche Bank to link management pay to sustainability targets

FRANKFURT, Dec 7 (Reuters) - Deutsche Bank on Monday said it planned to join a small number of financial institutions that link management pay to environmental, social and governance-related (ESG)…

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Locals long for Disney magic as shuttered Paris park hits jobs

Sleeping Beauty's castle stands empty at Disneyland's theme park outside Paris and the giant twirling teacups and other rides have ground to a halt until at least mid-February due to…

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Ex-Hong Kong lawmaker says some bank accounts unfrozen, no longer trusts HSBC

HONG KONG (Reuters) - Former Hong Kong democracy lawmaker and activist Ted Hui, who fled to Britain after facing criminal charges, said some of his bank accounts had been unfrozen…

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World Athletics to allow ‘development shoes’ if they meet technical specifications

Athletes will be allowed to wear shoes still under development in international competitions and events where World Athletics rules apply, upon approval of the shoes' specifications, after a rule change…

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Mastercard to investigate allegations against Pornhub

(Reuters) - Mastercard Inc said on Sunday it was investigating allegations against Pornhub.com following a newspaper column which said many videos posted on the adult website depicted The New York…

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Lufthansa to shed 29,000 workers by end of year – Bild am Sonntag

BERLIN, Dec 5 (Reuters) - Lufthansa will have shed 29,000 staff by the end of the year and the German airline will cut another 10,000 jobs in its home country…

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Microsoft aims to help businesses get handle on data with new tool: Azure Purview

Microsoft Corp announced a new cloud-based tool designed to help corporate customers understand where data is scattered throughout their operations and whether they are in compliance with data privacy regulations.…

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Gucci to donate over €410,000 to UNICEF for supply and distribution of vaccine to vulnerable

MILAN (Reuters) - Luxury brand Gucci, owned by French group Kering, will give at least €410,000 to UNICEF to help supply and distribute COVID-19 vaccines to vulnerable people around the…

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Discovery to distribute new streaming service

Discovery Inc. is launching a new streaming service, called discovery+, and has a U.S. distribution deal with Verizon Communications Inc that will make the service available to 50 million customers…

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Nestle to invest 3.2 bln Sfr to cut carbon emissions

Nestle said on Thursday it plans to invest 3.2 billion Swiss francs ($3.58 billion) over the next five years, giving details on how it wants to reach its goal of…

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Belgian mail turns to sports stores to ease parcel overload

Belgium's post office has teamed up with the country's largest sports store chain as a shift to online purchases accelerated by the COVID-19 pandemic has left it overloaded with packages.…

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Lufthansa sees surge in Christmas holiday flight bookings

Lufthansa recorded a big jump in bookings for long-haul and European flights over the Christmas and New Year holiday period and is increasing capacity accordingly, the German airline said. Like…

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Wizz Air adds Cardiff base in hope of Mediterranean holiday demand rebound

Wizz Air is setting up a new airport base in Cardiff, ultra-low cost carrier said on Thursday, with plans to serve new Mediterranean routes from late March when it hopes…

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Bentley hires jets to fly car parts to Britain during Brexit

Bentley, the luxury carmaker owned by Volkswagen has booked five Antonov cargo jets to help overcome potential supply bottlenecks in the event of a disorderly exit of Britain from the…

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Boeing’s updated 737 MAX completes first flight with media onboard

Boeing Co's 737 MAX staged its first post-grounding flight with media on board on Wednesday, as carriers seek to demonstrate to passengers that the redesigned jet is safe after a…

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Enel and Eni join forces in green hydrogen projects for refineries

Italy's top energy companies Enel and Eni have agreed to work together on plans to supply green hydrogen to two refineries in Italy. The two pilot projects will involve building…

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Hyundai Motor to launch dedicated EV platform in major push into electric cars

South Korea's Hyundai Motor Group said on Wednesday it will introduce an electric vehicle-only platform early next year that will use its own battery technology to cut production time and…

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Wizz Air passenger numbers down 85% in November

Hungarian low cost airline Wizz Air said passenger numbers were down 85% in November compared to the same month last year as restrictions related to the pandemic prolonged the travel…

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GO Invests in New Outlet at PAVI Shopping Complex

On 1st December, GO opened a new retail outlet at Qormi’s PAVI shopping complex. “As part of our continuous efforts to offer the best customer experience, we will be relocating…

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Hospitality hit hardest as Austrian unemployment rises during lockdown

Austrian unemployment rose in November as a coronavirus lockdown kicked in in the second half of the month, Labour Minister Christine Aschbacher said on Tuesday, with hospitality jobs especially hard…

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Almost a fifth of Spanish firms in danger of insolvency, Bank of Spain says

Up to 18.7% of Spanish companies could be insolvent by the end of the year because of the economic impact from the COVID-19 pandemic, with one in 10 of them…

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Bitcoin off record highs, slumps 7% in volatile trade

Bitcoin fell as much as 7% against the dollar on Tuesday as the fledgling currency was back to its volatile self after having scaled a record peak earlier in the…

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