Corporate Dispatch

Car rental group Europcar drops 2020 outlook as Q3 results hit by COVID

French car rental company Europcar - one of many in the transport sector to have been hit by the impact of the COVID-19 crisis - dropped its 2020 financial outlook…

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Sources indicate Fiat, PSA to win EU approval for $38 bln merger

Fiat Chrysler and PSA are set to win EU approval for their $38 billion merger to create the world's No.4 carmaker, people close to the matter said, as they strive…

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FIFA 21 … a taste of football pre-covid

Like clockwork, a new "FIFA" game is released every year, with few changes to its tried-and-true model. Yet it's precisely because of these lack of changes that "FIFA 21" feels…

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Obituary: Lee Kun-hee who transformed Samsung into a global powerhouse dies aged 78

Lee Kun-hee who built Samsung Electronics into a global powerhouse in smartphones, semiconductors and televisions, died on Sunday after spending more than six years in hospital following a heart attack,…

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Amazon announces $100 million logistics investment in Mexico

Amazon.com Inc said on Thursday it has invested $100 million in opening new warehouses in Mexico, including its first shipping centers outside the populous capital area, in a bid to…

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British Airways warns of deepening travel slump as losses mount

British Airways owner IAG warned the travel slump from the coronavirus pandemic had deepened, forcing it to axe even more of its winter flying schedule after it reported on Thursday…

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Unilever’s third-quarter sales leap back to growth

Unilever reported a stronger-than-expected return to sales growth in the third quarter on Thursday led by emerging markets where it generates the bulk of its revenue. Underlying sales rose 4.4…

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STMicro sees more sales growth in fourth-quarter despite Huawei ban

Franco-Italian chipmaker STMicroelectronics is expecting strong demand from the car and mobile phone industries to boost sales growth in the fourth quarter as it braces for a loss of revenue…

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Pernod Ricard says sales likely to suffer during second wave

French spirits maker Pernod Ricard doesn't expect sales to rise until next year as second-wave COVID-19 lockdowns are likely to hit its business heavily in the last three months of…

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Handbag maker Hermes echoes luxury sales rebound amid online surge

Birkin handbag maker Hermes' comparable sales picked up again in the third quarter, rising 7%, and the group said this positive momentum had extended into October after a rebound in…

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PayPal to allow cryptocurrency buying, selling and shopping on its network

PayPal Holdings Inc joined the cryptocurrency market, allowing customers to buy, sell and hold bitcoin and other virtual coins using the U.S. digital payments company's online wallets. PayPal customers will…

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UPDATED: Reports Adidas planning to sell Reebok

Adidas is planning to sell its long-struggling Reebok division, Germany's manager magazin reported on Thursday. The group plans to complete the sale by March 2021, the magazine said, without citing…

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Deutsche Bank in talks to sell IT unit as it trims staff

Germany's Deutsche Bank is in talks to sell IT services division Postbank Systems, people with knowledge of the matter said on Thursday. A potential buyer is India's Tata Consultancy Services…

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British Airways-owner IAG reports 1.3 bln euro loss

British Airways-owner IAG reported a 1.3-billion-euro loss in the third quarter as coronavirus restrictions continue to depress travel, forcing it to further downgrade its capacity outlook for the rest of…

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Nestle shrugs off COVID-19 impact thanks to pet food and health nutrition

Nestle raised its guidance for 2020 organic sales growth to around 3% after beating third-quarter expectations on Wednesday with 4.9% growth driven by strong demand for pet food, coffee and…

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Amazon extends work from home option till June

Amazon.com Inc told employees whose work can be done from home that they can do so until June, extending the timeline on a return to office due to the COVID-19…

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Japan’s ANA likely to suffer $5 bln net loss this year

Japanese airline operator ANA Holdings is expected to suffer a net loss of around 530 billion yen ($5 billion) for the fiscal year ending in March after the COVID-19 pandemic…

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UK’s Royal Mail launches parcel pick-up service to tap online shopping boom

Royal Mail on Wednesday launched a new parcel pick-up service across Britain, enabling its postal workers to collect and deliver items on their daily rounds as it tries to capitalize…

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Akzo Nobel core profit beats as sales recover from coronavirus slump

Dutch paints and coatings maker Akzo Nobel reported on Wednesday a better-than-expected 18% jump in third-quarter core profit to 353 million euros ($418.16 million), as sales recovered from the deep…

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William Hill warns of profit hit on local lockdowns as revenue falls

British bookmaker William Hill Plc warned on Wednesday that further local lockdowns triggered by a fast-spreading new coronavirus wave would hit core earnings, as it posted lower third-quarter revenue. The…

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United Airlines testing global health app on UK-U.S. flight in effort to reopen borders

United Airlines was set on Wednesday to test a digital health pass under a global pilot program seeking to establish a common international standard for COVID-19 test results and eventually…

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Wizz Air CEO expects smaller airline industry after pandemic

The world will have a smaller airline industry as a result of the coronavirus crisis with many privately funded carriers set to go under and governments throwing "good money after…

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21

Oct

Cathay Pacific to slash workforce, end Cathay Dragon brand due to pandemic

Hong Kong's Cathay Pacific Airways Ltd said on Wednesday it would slash 5,900 jobs and end its regional Cathay Dragon brand, joining peers in cutting costs as it grapples with…

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U.S. says Google breakup may be needed to end violations of antitrust law

The U.S. sued Google on Tuesday, accusing the $1 trillion company of illegally using its market muscle to hobble rivals in the biggest challenge to the power and influence of…

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Cathay Pacific to operate less than 50% of pre-pandemic capacity in 2021

Hong Kong's Cathay Pacific Airways Ltd said on Monday it expects to operate less than 50% of its pre-pandemic passenger flight capacity in 2021 as it nears completion of a…

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British Airways to ‘cut flights from Gatwick’ in Covid recovery plan

British Airways is planning to shrink its presence at London Gatwick Airport as part of a "bounce-back" effort in the wake of the Covid-19 pandemic. BA, which warned it could abandon…

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Eurofins gets U.S. ‘EUA’ approval for home-based COVID-19 Test

Laboratory testing and diagnostics company Eurofins said its new at-home COVID nasal testing product had received 'Emergency Use Approval' (EUA) status from the U.S. Food & Drug Administration regulatory body.…

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French food group Danone launches portfolio review to cope with COVID-19 world

Danone said on Monday it was launching a review of its assets and reshaping its management to better cope with challenges stemming from the coronavirus pandemic. The world's largest yoghurt…

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UK’s Flybe seen flying again in 2021 after administrators agree to sale

Regional airline Flybe will be sold to a firm affiliated with investment adviser Cyrus Capital and may start flying again from 2021, its joint administrators said on Monday, months after…

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Nokia to build mobile network on moon

Finland's Nokia has been selected by NASA to build the first cellular network on the moon, the company said on Monday. The lunar network will be part of the U.S.…

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English language teaching business plummets 80% – FELTOM

FELTOM publishes analysis of Covid-19 impact on English Language Teaching schools The Federation of English Language Teaching Organisations Malta (FELTOM) has just published a report on the impact of the…

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Etihad lays off more flight staff

Abu Dhabi's Etihad Airways is removing four staff roles on its flights - including some on the catering side as well as butlers and nannies - with some affected employees…

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Finnair to start selling plane food in supermarkets

Finnair, Finland's national airline, will start selling ready-to-eat business class airplane food in supermarkets in the hopes of keeping kitchen staff employed during the global coronavirus crisis and cater to…

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Royal Mail eyes UK PM’s 800 mln stg home COVID-19 tests contract

Royal Mail is targeting a contract worth almost £800m to spearhead mass home testing for up to two and a half years under Boris Johnson’s “Operation Moonshot”. Keith Williams, the…

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American Airlines plans to return Boeing 737 Max to service at year-end

American Airlines Group plans to return Boeing 737 Max jets to service for passenger flights by the end of this year depending on certifictaion of the aircraft from the Federal…

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Chartering the waves – Rolex Middle Sea Race 2020

It was a glorious day to start a yacht race. Valletta’s golden limestone bastions, rising boldly from the waters of Grand Harbour, bathed in bright sunshine. The force 4 north…

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Deloitte to shut four UK offices as COVID-19 entrenches remote working

Global accounting and consulting firm Deloitte will close four of its 50 British offices as it reviews its real estate portfolio in the coronavirus pandemic, but will retain the staff…

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British Airways hit with UK data watchdog’s biggest-ever fine

Britain's data protection watchdog said on Friday it has fined British Airways 20 million pounds - its biggest such penalty to date - for failing to protect data that left…

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Britain’s John Lewis to increase digital focus and diversify

British retailer the John Lewis Partnership will accelerate the expansion of its online business, diversify beyond retail and seek more partnerships as it aims to recover profitability, it said on…

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Wetherspoon calls for “sensible” UK rules as pub losses mount

The head of British pub operator J D Wetherspoon warned on Friday of the threat posed to his industry and the wider economy from measures to try to contain the…

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Dutch telecom KPN picks Ericsson over Huawei for 5G network

KPN has chosen Sweden's Ericsson to build core elements of its new 5G mobile network following a decision last year not to select China's Huawei, the Dutch telecoms company said…

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Pirelli reboots its R&D to stay on track through the pandemic

When the coronavirus pandemic forced Italian tyremaker Pirelli to temporarily shut its factories in March, R&D chief Pierangelo Misani needed a rapid rethink. With a new range of products due…

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Roche confirms 2020 outlook as COVID-19 diagnostics surge

The frantic global effort to test people for COVID-19 pushed Roche's diagnostics division to record revenue, helping the Swiss drugmaker offset declining drug sales and keeping it on track to…

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Ryanair to close Cork and Shannon bases for the winter

Ryanair is to cut its planned winter capacity by a third due to a wave of travel restrictions imposed by European governments, the airline said on Thursday. The Irish airline,…

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Hyundai Motor heir takes over from father after 20 years in waiting

Hyundai Motor Group appointed Euisun Chung as group chairman on Wednesday, cementing his succession from his octogenarian father in a move likely to give impetus to the world's fifth-largest automaker's…

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Profit at Britain’s ASOS quadruples on strong demand during pandemic

British online fashion retailer ASOS on Wednesday reported a quadrupling in full-year profit, benefiting from strong demand during the COVID-19 pandemic and forecast more improvement in the 2020-21 year. ASOS,…

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PayPal launches tool to pay in interest-free instalments

PayPal is adding a new tool that will allow shoppers to pay for goods in interest-free instalments in a boost for struggling consumers and online retailers on its payments platform.…

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Gozo Now IoT Ready With First Smart Parking Project

A year after the inauguration of the Gozo Innovation Hub, the first project involving a new smart parking system installed in Victoria Gozo is now operating. This is the first…

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Apple launches iPhone 12

Apple launched four versions of the iPhone 12 with faster 5G connectivity, starting at $699, which the Cupertino, California company hopes will spur a wave of upgrades and keep its…

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Huawei finding difficulty to counter US sanctions

Chinese telecom giant Huawei is finding it harder to counter U.S. sanctions designed to choke off its access to semiconductors but can continue to serve European 5G network clients, a…

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Barilla recognized for animal welfare leadership

Italian food group Barilla, the world’s largest pasta manufacturer, is the recipient of this year’s Henry Spira Humane Corporate Progress Award, a recognition given by the Humane Society of the…

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IBM to break up company to focus on cloud growth

International Business Machines Corp is splitting itself into two public companies, capping a years-long effort by the world’s first big computing firm to diversify away from its legacy businesses to…

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Italy’s Enel set to launch digital banking services

Italy's Enel is set to be the first of Europe’s big utilities to launch new digital banking services this month that will allow customers to open a current account with…

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Microsoft planning to release browser-based app for Xbox Game Pass streaming service in 2021

Business Insider reported that Microsoft's gaming boss Phil Spencer told employees at an all-hands meeting this week that the company is planning to bring Game Pass to Apple's iPhone and…

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Microsoft to let most employees work remotely for up to half their weekly working hours

Microsoft Corp said on Friday it would allow most of its employees to clock in up to half their weekly working hours remotely, providing greater flexibility even after offices start…

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Italy creates new company to press ahead with Alitalia nationalisation plan

Italy has approved the creation of a new company to house the assets of troubled airline Alitalia as the government presses ahead with a plan to nationalise the company. The…

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Lamborghini celebrates the 50th Anniversary of the Urraco

This year marks the 50th Anniversary of the Lamborghini Urraco, unveiled at the Turin Motor Show in late October 1970. This model immediately stood out for having introduced technical solutions…

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