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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…
Sales of alcohol-free beer are booming in the UK and across Europe, coinciding with an increase in alcohol-free craft breweries and even a bar in Dublin. UK sales of low and alcohol-free beers jumped 28%. In Germany, as many as one in 15 sold estimated to be alcohol-free, and Spain is now the world's largest consumer of alcohol-free beer, accounting for 14% of all beer…
The EU has reached a deal to give the US a larger share of Europe’s beef market. The agreement means the US will now secure a guaranteed 18,500 tonnes of the 45,000-tonne quota for hormone-free beef, with that number rising to 35,000 tonnes after seven years. It will reduce the amount of the quota other suppliers like Australia, Uruguay and Argentina…
The move comes after the country’s oldest lender was linked to money laundering at Danske Bank, and is a “consequence of the ongoing internal investigation”. Swedbank CEO Birgitte Bonnesen was fired in March for misleading the public about the seriousness of the case. Swedbank is alleged to have handled up to €20 billion in suspicious payments yearly between 2010 and 2016 in Estonia.
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