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AI and digitalisation to eliminate 9,000 jobs at Intesa Sanpaolo
Italy's leading bank, Intesa Sanpaolo, has reached a deal with trade unions for 9,000 voluntary job cuts -- around 10 percent of its workforce -- due to the expansion of artificial intelligence (AI) and digitalisation.
Ireland fines LinkedIn 310 mn euros over EU data breach
An Irish regulator helping to police European Union data privacy said Thursday it had fined professional networking platform LinkedIn 310 million euros ($335 million) over breaching users’ personal data for targeted advertising.
New models help Renault maintain sales in third quarter
Renault said Thursday it managed to post an increase in third quarter revenue, weathering the overall slowdown in auto sales better than many rivals thanks in part to the introduction of new models. Overall revenue at the French carmaker edged 1.8 percent higher to 10.7 billion euros ($11.6 billion) in the third quarter, although auto sales dipped 0.5 percent to 9.3 billion.
Hermes bucks trend to post rising sales
French luxury group Hermes posted Thursday a jump in third quarter sales, bucking the overall gloom in the sector caused by falling sales in China. China is the world's biggest spender in the luxury sector, accounting for half of global sales.
Barclays profits rise on UK, investment banking gains
British bank Barclays on Thursday said its net profit jumped almost a quarter in the third quarter, helped by improved performance at its core UK and investment divisions alongside cost-cutting. Net profit at Barclays UK jumped 17 percent in the third quarter and by 12 percent at its investment banking division.
Taiwan's TSMC stops shipments to client after chips sent to Huawei
Taiwanese chipmaking giant TSMC halted shipments to a customer this month after its semiconductors were sent to China's Huawei, a Taipei government official told AFP, potentially breaching US sanctions.
East DR Congo grapples with Chinese gold mining firms
Italian priest Davide Marcheselli has been fighting for years against Chinese companies illegally mining gold in the town of Kitutu in eastern Democratic Republic of Congo. - Access denied – In the town of Kamituga, some 40 kilometres (25 miles) from Kitutu, gold mining is in full throttle.
European leaders meet to re-energise offshore wind power
The countries bordering the North Sea meet in Denmark on Thursday to seal commitments to boost offshore wind power, a sector that is suffering from stiff competition from China.
China sees little relief from trade tensions as US goes to the polls
While the outcome of next month's US presidential election remains on a knife-edge, analysts say that for many in China the consequence is the same whoever emerges victorious: more tariffs, more tensions and a trade war that shows no sign of easing.
AFP
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