CDE News - The Dispatch - Corporate Dispatch

Worst flight chaos over, Lufthansa board member tells Funke media

BERLIN (Reuters) - The worst is over for German airline Lufthansa after staff shortages caused flight chaos over the summer, but levels of sick leave remain challenging, board member Christina Foerster told…

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Musk says Twitter deal should go ahead if it provides proof of real accounts

Aug 6 (Reuters) - Elon Musk said that if Twitter Inc. TWTR.N could provide its method of sampling 100 accounts and how it confirmed that the accounts are real, his $44 billion deal to…

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Lufthansa sees return to full-year profit as travel picks up

FRANKFURT/BERLIN (Reuters) - Germany's Lufthansa said this week it expected demand for short-haul flights in Europe to drive growth at its passenger airlines this year, forecasting a return to group operating profit…

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Microsoft Teams now includes human language translation for scheduled meetings

One can now attend scheduled Microsoft Teams meetings even if one doesn’t understand the languages your fellow participants are speaking. The new solution, developed by Microsoft in partnership with the…

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Special Public Transport Service for August events: Summer Daze and Malta International Food Festival

Malta Public Transport is operating special routes for two different events in Malta and Gozo. A special service has been put in place for the Gozo edition of the Malta…

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Hili Properties plc acquires majority shareholding in prestigious Romania office complex

Hili Properties plc, the strategic real estate investment subsidiary of Hili Ventures, has acquired a 75% shareholding in Baneasa Real Estate SRL, the owner of the imposing Miro office building…

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Credit Suisse mulls cutting thousands of jobs globally

(Reuters) - Credit Suisse Group AG is discussing slashing thousands of jobs globally, Bloomberg News reported, citing people familiar with the matter. Hours after the news, Fitch Ratings cut Credit Suisse's rating and…

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Lufthansa ground staff agree pay deal after strike

FRANKFURT (Reuters) - Ground staff of Germany's Lufthansa and management have reached a pay deal after a third round of negotiations, the Verdi labour union and the carrier said. The pay dispute…

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Alibaba revenue growth flatlines for first time as China’s lockdowns bite

Aug 4 (Reuters) - Alibaba Group Holding Ltd on Thursday reported flat quarterly revenue growth for the first time in its history, showing how China's COVID lockdowns have hit its business. The slowdown…

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Paramount gets lift from ‘Top Gun’ but streaming losses a drag

Aug 4 (Reuters) - Paramount Global beat Wall Street expectations for quarterly revenue and profit on Thursday, powered by the May release of blockbuster Tom Cruise-starrer "Top Gun: Maverick" even as streaming…

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Rolls-Royce profit slumps as it battles inflation, supply-chain disruption

LONDON, Aug 4 (Reuters) - Aero-engineer Rolls-Royce disappointed investors by reporting a bigger-than-expected fall in first-half profit on Thursday, underscoring the challenge facing its new chief executive of restoring the health of its…

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UK retailer Next lifts outlook on strong clothing demand

LONDON, Aug 4 (Reuters) - Retailer Next , a mainstay of Britain's shopping streets, defied the economic gloom on Thursday to lift its full-year sales and profit forecasts after warm weather in June and July spurred better-than-expected…

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04

Aug

Polish bank Pekao estimates a third of its customers requested credit breaks

GDANSK, Aug 4 (Reuters) - Polish bank Pekao estimates a third of its customers have requested breaks from making credit payments, Chief Executive Officer Leszek Skiba said on Thursday, following a government…

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Monte dei Paschi seals deal with unions over exit of 3,500 staff

MILAN, Aug 4 (Reuters) - Italian state-owned bank Monte dei Paschi di Siena reached an accord with unions over thousands of job cuts which are part of commitments Rome agreed this week…

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Hundreds of Amazon warehouse workers walk out over pay, UK union says

LONDON, Aug 4 (Reuters) - Hundreds of Amazon workers at a warehouse in Tilbury in southeast England have walked out in protest over pay, the trade union GMB said, the latest sign of labour…

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Lufthansa limits ticket sales amid travel chaos

BERLIN, Aug 4 (Reuters) - Germany's Lufthansa said on Thursday it would offer only around 80% of pre-crisis passenger capacity in the third quarter, less than previously planned, amid staffing shortages at airports…

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Maersk sees weaker demand for shipping containers this year

COPENHAGEN, Aug 3 (Reuters) - Shipping group Maersk said it expects weaker 2022 global container demand growth on Wednesday, after moving fewer containers by sea in the second quarter due to worsening…

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Express Trailers Improves Operations With Newly Set Up Order Department

The level of efficiency in handling clients’ requests and orders was already high at Express Trailers. Nonetheless given the company’s constant efforts to improve its operational efficiency, it has now…

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Technology Project For Inspire Foundation Thrift Shops

Charity shops do not only rely on the provision of items to be sold in order to operate but today, given their increased activity, they also need the backing of…

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GO Technology Supporting Frank Salt’s Growth

In view of a foreseen increased demand, property company Frank Salt Real Estate Ltd is envisaging an increase of its sales and letting force by 20% in 2022 - a…

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HSBC to pay some UK staff 1500 pounds to combat cost of living crisis -memo

LONDON (Reuters) - HSBC will pay some of its British workforce a one-off payment of 1500 pounds ($1,830) to help deal with the cost of living crisis, according to a…

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Hershey warns of shortage of sweets for Halloween holiday

US chocolate manufacturer Hershey has warned of a shortage of sweets over the Halloween holiday as it struggles to ramp up supply. The chief executive Michele Buck said the firm…

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Alfa Romeo to develop large car in the United States

MILAN, July 29 (Reuters) - Itay's Alfa Romeo will work on a new large-size car in the United States to be launched in 2027, the brand's head Jean-Philippe Imparato said on Friday,…

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Italy’s Eni confident it will replace Russian gas completely by 2025

MILAN, July 29 (Reuters) - Italian energy group Eni believes it will be able to completely replace Russian gas imports by 2025 as uncertainty over Moscow's energy supplies to Europe forces countries to…

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UPDATED: Spanish-based easyJet pilots to go on strike for nine days in August

MADRID, July 29 (Reuters) - Spain-based pilots at easyJet will go on strike for nine days in August to demand better working conditions, the SEPLA union said on Friday. The union is demanding that the budget airline reestablish…

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Air France-KLM cuts capacity levels on ‘operational challenges’

July 29 (Reuters) - Air France-KLM downgraded on Friday its capacity forecast for the third quarter, citing operational difficulties at airports that could weigh on the group's performance. The airline company expects…

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Crypto platform Zipmex files for bankruptcy protection in Singapore

July 29 (Reuters) - Southeast Asia-focused cryptocurrency exchange Zipmex said it had filed for bankruptcy protection in Singapore, becoming the latest victim of the global downturn in digital currencies. Singapore-based Zipmex resumed…

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Pfizer profit surges, reaffirms sales forecast for COVID-19 products

July 28 (Reuters) - Pfizer Inc PFE.N on Thursday reported a 78% jump in profit and reaffirmed the combined 2022 sales forecast of $54 billion for its COVID-19 vaccine and pill, as countries rushed…

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Etihad Airways swings to first half operating profit of nearly $300 mln

DUBAI, July 28 (Reuters) - Abu Dhabi's Etihad Airways swung to a core operating profit of $296 million in the first half of 2022 from a loss of $390 million a year…

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Billionaire Jack Ma plans to cede control of China’s Ant Group – WSJ

BEIJING/HONG KONG, July 28 (Reuters) - Chinese billionaire Jack Ma plans to give up control of financial technology company Ant Group Co in an effort to move away from affiliate Alibaba Group…

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28

Jul

Shell again smashes record with $11.5 billion profit

LONDON, July 28 (Reuters) - Shell on Thursday reported a profit of $11.5 billion in the second quarter, smashing the previous quarter's record, lifted by refining profits and gas trading. The company…

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28

Jul

STMicro expects chip factories to run at full steam until 2023

PARIS/STOCKHOLM, July 28 (Reuters) - STMicroelectronics expects its factories to run at full steam well into 2023 as the chipmaker's backlog is filled by the car and smartphone industries, prompting it to raise…

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Lufthansa could face pilots’ strike

BERLIN, July 28 (Reuters) - The union representing German pilots in collective bargaining talks with Deutsche Lufthansa has called a members' strike ballot after negotiations stalled, the Spiegel weekly reported on Thursday,…

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Samsung warns of weaker chip demand for phones, PCs as people shop less

SEOUL, July 28 (Reuters) - Samsung Electronics Co Ltd cautioned chip demand from smartphone and PC makers would weaken further as people shop less, and that the more resilient demand from server clients…

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Meta posts first-ever revenue drop as inflation throttles ad sales

(Reuters) - Meta Platforms Inc issued a gloomy forecast after recording its first ever quarterly drop in revenue on Wednesday, with recession fears and competitive pressures weighing on its digital ads sales. Shares of…

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Netflix back up after brief streaming outage

(Reuters) - Netflix Inc's streaming services were back up after facing a brief disruption across all devices, the company said on Wednesday evening. At its peak, there were more than 1,300 incidents of…

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Mercedes-Benz bolsters supply chain as it braces for less gas

BERLIN, July 27 (Reuters) - Mercedes-Benz MBGn.DE is boosting its supply chain by dealing directly with chipmakers and forming contingency plans to cut gas usage by up to 50% in…

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Wizz Air Q1 operating loss expands to 285 mln euros

LONDON, July 27 (Reuters) - Low-cost airline Wizz Air said its first-quarter operating loss had jumped to 285 million euros ($288.71 million) from 109 million euros the year before, as…

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Amazon to raise Prime prices in Europe

Amazon.com Inc will raise fees for its delivery and streaming service Prime in Europe by up to 43% a year, the online retailer said, as it moves to counter higher…

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UPDATED: Ryanair’s Spanish cabin crew union calls for strikes until January

MADRID, July 27 (Reuters) - Ryanair's RYA.I Spanish cabin crew union members plan strikes on four days of every week until January to press demands for higher pay and better…

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Microsoft soothes market fears with forecast for strong revenue growth

(Reuters) - Microsoft Corp forecast revenue this fiscal year would grow by double digits, driven by demand for cloud computing services and sending shares up 5%. The strong outlook shows…

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UPDATED: Lufthansa ground staff start walkout in Germany in pay dispute

FRANKFURT, July 27 (Reuters) - Ground staff at Deutsche Lufthansa went on strike early Wednesday, prompting the cancellation of more than 1,000 flights, and adding to travel disruptions during the…

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Severe delays in Malta Public Transport’s service due to closure of Triq l-Indipendenza

Malta Public Transport is experiencing severe delays in its service due to the closure of Triq L-Indipendenza in Tal-Pietà. A diversion is in place affecting all routes serving bus stops…

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Microsoft Teams getting new hybrid work features

Microsoft has announced a bunch of new features for Teams and inter-app collaboration features that it thinks will be useful for hybrid work. Office Excel is gaining the Excel Live…

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Credit Suisse eyes more cost cuts

ZURICH, July 24 (Reuters) - Credit Suisse is considering how it could cut costs further after a dismal performance by the embattled bank in the past quarter, SonntagsZeitung reported, citing…

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Zara founder Ortega’s real estate assets worth $15.5 bln in 2021

MADRID (Reuters) - The family office of Spanish billionaire Amancio Ortega, founder and main shareholder of fashion group Inditex , reported this week its real estate assets' market value rose by over 1…

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Google fires software engineer who claimed its AI chatbot is sentient

(Reuters) - Alphabet Inc's Google said on Friday it has dismissed a senior software engineer who claimed the company's artificial intelligence (AI) chatbot LaMDA was a self-aware person. Google, which…

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Oracle and Microsoft Agree to Deepen Interoperability of Cloud Platforms

Oracle Corp. and Microsoft Corp. announced a deeper interoperability of their clouds, allowing customers to more easily run projects across the two platforms. Years ago, many cloud providers tried to…

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Meta’s Facebook revamping main feed to attract younger users

(Reuters) - Meta Platforms said it was revamping the main feed on its Facebook app to prioritize "discovery" of new content, instead of posts from accounts users follow, a bid to style its…

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GO is one of Malta ESG Alliance’s Founding Members

GO has joined several leading reputable business organisations which have come together to announce the launch of Malta ESG Alliance (MESGA) - a private sector initiative that will seek to…

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Aldi UK to create 1,000 logistics jobs over next year

LONDON, July 21 (Reuters) - The British arm of German discounter Aldi will create 1,000 logistics jobs in the United Kingdom over the next 12 months, it said on Thursday. Aldi UK,…

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Blockchain.com Cuts 25% Workforce

Cryptocurrency exchange Blockchain.com is cutting 25% of its workforce, equating to about 150 people, the firm said on Thursday. The company cited the harsh bear market conditions and the need…

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HSBC confirms staff in China unit set up branch of Chinese Communist Party

LONDON, July 21 (Reuters) - HSBC Holdings Plc said employees had formed a branch of the Chinese Communist Party (CCP) within its securities brokerage unit in the country, following media reports on Thursday. HSBC…

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Ford plans to cut up to 8,000 jobs

July 20 (Reuters) - Ford Motor Co is preparing to cut up to 8,000 jobs in the coming weeks in a bid to reduce costs and intensify its focus on electric vehicles, Bloomberg…

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Crypto.com, Trade Republic register for crypto services in Italy

Singapore-based Crypto.com and German investment platform Trade Republic said they had registered as cryptocurrency operators in Italy, following in the tracks of rivals such as Binance and Coinbase. In an…

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Royal Mail to change name

July 20 (Reuters) - Royal Mail said it would rename its holding company International Distributions Services Plc and could separate its UK business, where its workforce is set to strike over pay,…

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SAS lands deal with pilots’ unions, ending 15-day strike

COPENHAGEN/STOCKHOLM, (Reuters) - SAS and pilot unions have reached a wage deal, the Scandinavian airline confirmed on Tuesday, ending a 15-day strike over a new collective bargaining agreement that had…

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