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Greeks elected the conservative New Democracy party to government after it promised lower taxes and more jobs. Led by incoming PM Kyriakos Mitsotakis, the party won 39.6% of the vote compared to the far-left Syriza party of PM Alexis Tsipras with 31.6%. Voters supported New Democracy’s promise to cut taxes to drive investment, growth and jobs after years of tough austerity measures following the…
Boeing has been usurped by its European rival Airbus in a lucrative new deal with the Saudi Arabia carrier Flyadeal. The beleaguered U.S. company lost a $5.5b deal to sell its 737 MAX jetliners to Flydeal after the carrier opted to purchase up to 50 Airbus A320neo planes instead. The move by the discount carrier is “one of the first tangible…
Monday, 08 July 2019 10:56

DEUTSCHE BANK TO CUT 20% OF ITS STAFF

Deutsche Bank could slash up to 20,000 jobs by 2022, a fifth of its workforce. CFO James von Moltke has called the move a “final restructuring”. He aims to reduce adjusted costs by a quarter to €17b, but is likely to post a net loss of €2.8b in the second quarter of 2019. He also announced it will pull out of global equities…
Swiss researchers have developed a method that could use the hot air in train tunnels to heat (or cool) thousands of homes. A series of plastic pipes filled with transfer fluid or cold water would be installed along train passages — as passing trains warm those pipes, energy would be produced in the form of a hot liquid. A 645,000 square foot area…
The EU decreed all new electric vehicles must be fitted with a noise-emitting device. The new rule, which comes into effect today, follows concerns the super-quiet vehicles pose a risk to pedestrians and cyclists. The cars’ acoustic vehicle alert system (AVAS) must be activated when reversing or travelling at speeds below 19km/h. Charity Guide Dogs has welcomed the move but says…
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