Restructuring plan

Business

Thousands of jobs to go at German car parts maker Schaeffler

The company is downsizing at 10 locations in Germany and five other sites in Europe, further illustrating the challenges facing the European car industry.

05/11/2024

Business

Europe's biggest paintmaker AkzoNobel set to cut 2,000 jobs

The Amsterdam-based firm, known for brands such as Dulux, is on a cost-cutting drive to 'accelerate profitable growth'.

24/09/2024

Business

Battery giant Northvolt to lay-off staff amid EV market slowdown

Northvolt has announced that it would be laying off a large part of its workforce and selling or consolidating several sites as the electric vehicle (EV) market slows down.

10/09/2024

Business

Why are senior leaders at Germany’s Thyssenkrupp resigning?

A bitter restructuring row has left the firm’s steel division waving goodbye to its CEO, chair and five directors.

30/08/2024

Business

German steelmaker ThyssenKrupp holding major restructuring talks

The firm's supervisory board will discuss the independence of its steel division in the face of fierce competition from Asia and climate demands.

09/08/2024

Business

Air Antilles takes off again in relaunch following 2023 liquidation

Air Antilles is being relaunched under a new partnership between the French engineering company EDEIS group and the Collectivité de Saint-Martin.

23/07/2024

Business

Deutsche Bank shuts down Numis US operations post takeover

Deutsche Bank has cut Numis' valuation by about €233 million following the takeover in April 2023, which is believed to be one of the biggest reasons for Numis' US branch shutdown.

28/05/2024

Business

Benetton set for a fashion rebrand as it looks to edge out losses

Benetton has been facing intense competition from other fast-fashion brands such as Zara in recent years.

28/05/2024

Europe Decoded

Spain first to receive EU pandemic recovery funds as others lag behind

With the Spanish government set to be the first to receive money from NextGeneration EU, the state-of-play for other member states is much different.

06/12/2021

My Europe Series

Europe's week: Biden in Brussels & Von der Leyen's recovery plan tour

The US President was in the Belgian capital this week for a NATO and EU-US summit.

18/06/2021

Belgium

Brussels Palais de Justice will finally get a facelift

Belgium’s federal government will put €1.5 million aside to renovate the scaffolding, which was put up in 1984. The work is predicted to be completed by 2030.

03/04/2021

Germany

Deutsche Bank is planning to create a so-called 'bad bank' in overhaul

Germany's Deutsche Bank is planning to create a so-called 'bad bank' that will undertake poor-performing assets and non-performing or bad loans

17/06/2019

United Kingdom

Honda announces plans to close its Swindon manufacturing plant by 2021

Honda struck the latest blow to the UK's car industry, announcing plans to close its Swindon manufacturing plant by 2021, with the loss of 3,500 jobs

19/02/2019

World News

Michigan stadium withstands demolition blast

At least 10 percent of the explosives didn't work, according to representatives of the demolition company tasked with the implosion

04/12/2017

Business Series

Monte dei Paschi to cut 5,500 jobs in EU-approved restructuring plan

World's oldest bank receives EU approval for restructuring plan, which includes thousands of job cuts.

05/07/2017

Business Series

Alitalia workers reject rescue plan

Two thirds of Alitalia's workers have voted to reject a management restructuring plan. The loss-making airline is set to run out of cash in weeks.

25/04/2017