EUROP – Jobber Wiki

Thyssenkrupp’s restructuring plan has ‘failed’, labour bosses say

31Mar

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Business

Thyssenkrupp’s restructuring plan has ‘failed’, labour bosses say

FRANKFURT/DUESSELDORF, March 31 (Reuters) - German industrial group Thyssenkrupp's (TKAG.DE) powerful labour representatives lashed out at leadership on Friday, demanding a strategic roadmap while saying that CEO Martina Merz's plan to create a so-called group of companies had failed.The comments were made following a supervisory board meeting during which the board presented an update on restructuring efforts, including plans to divest its steel division and prepare the firm's defence division for a standalone future.Under the plans, the sprawling conglomerate would ideally become more of a holding company owning stakes in its divisions, without necessarily operating them, hoping to revive its languishing share price."The concept of the group of companies has failed for us," Thyssenkru...

Kazakh airline says business is booming as Russia loses traffic

29Mar

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Business

Kazakh airline says business is booming as Russia loses traffic

ALMATY, March 29 (Reuters) - Kazakhstan's flagship airline, Air Astana, is speeding up its expansion plans to take advantage of a drop in air traffic via Russia and the reopening of China, chief executive Peter Foster told Reuters.Many global airlines stopped flights to Russia after it invaded Ukraine last year. As a result, Moscow has lost its status as a hub for flights between Europe and Asia, allowing its southern neighbour Kazakhstan to boost its market share."Prior to the start of the war in Ukraine, a lot of traffic in general, going in the western direction, whether that was to Europe or to the U.S., was traveling from this region via the Russian Federation," Foster said in an interview."Obviously, that is no longer the case. And so what has happened is there has been a shift of...

As AI booms, EU lawmakers wrangle over new rules

22Mar

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Technology

As AI booms, EU lawmakers wrangle over new rules

STOCKHOLM/LONDON, March 22 (Reuters) - Rapid technological advances such as the ChatGPT generative artificial intelligence (AI) app are complicating efforts by European Union lawmakers to agree on landmark AI laws, sources with direct knowledge of the matter have told Reuters.The European Commission proposed the draft rules nearly two years ago in a bid to protect citizens from the dangers of the emerging technology, which has experienced a boom in investment and consumer popularity in recent months.The draft needs to be thrashed out between EU countries and EU lawmakers, called a trilogue, before the rules can become law.Several lawmakers had expected to reach a consensus on the 108-page bill last month in a meeting in Strasbourg, France and proceed to a trilogue in the next few months...

Nvidia turns to AI cloud rental to spread new technology

21Mar

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Technology

Nvidia turns to AI cloud rental to spread new technology

March 21 (Reuters) - Nvidia Corp (NVDA.O) Chief Executive Jensen Huang on Tuesday laid out the company's plans to make the powerful and expensive supercomputers used to develop AI technologies like ChatGPT available for rent to nearly any business.While that access will not come cheap - at $37,000 a month for eight of Nvidia's flagship A100 or H100 chips strung together - offering it to a wider swath of business customers could accelerate an AI boom that has driven Nvidia shares up 77% this year, making it about five times more valuable than longtime rival Intel Corp (INTC.O).The Santa Clara, California-based company already dominates the field for artificial intelligence chips and has helped partners like Microsoft Corp (MSFT.O) build huge systems for ChatGPT creator OpenAI's services ...

SVB is largest bank failure since 2008 financial crisis

11Mar

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Business

SVB is largest bank failure since 2008 financial crisis

California regulator closes SVB, appoints FDIC as receiverSVB focused on lending to start-ups; branches to reopen MondayFDIC to sell bank assets; 'chaos' reported amid withdrawalsBank shares fall in U.S., Europe, but well off lowsCrisis exposes banking 'vulnerabilities' amid rising ratesMarch 10 (Reuters) - Startup-focused lender SVB Financial Group (SIVB.O) became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded.California banking regulators closed the bank, which did business as Silicon Valley Bank, on Friday and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for later disposition of its assets.Based in Santa Clara, the lend...

World Cup study confirms fears around player health, says FIFPRO

9Mar

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Health

World Cup study confirms fears around player health, says FIFPRO

MANCHESTER, England, March 9 (Reuters) - Global soccer players union FIFPRO said that the World Cup should never again be squeezed into a November-December window, and that Raphael Varane's international retirement should ring alarm bells about the sport's smothering schedule.FIFPRO released their World Cup 2022 Post-Tournament Review and Player Survey on Thursday, and said the results confirmed their fears around players' mental and physical fatigue and injury risk.Varane helped France reach the World Cup Final - then announced on Feb. 3 he was ending his international career over a "suffocating" schedule."(Varane's) decision should really, really make competition organisers nervous, because it's ultimately those players who are on the field creating the game, they're creating the prod...

Stake sale in Bundesliga media rights business to launch early March -sources

22Feb

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Business

Stake sale in Bundesliga media rights business to launch early March -sources

FRANKFURT, Feb 22 (Reuters) - Germany's soccer governing body is poised to kick off the sale of a stake in the Bundesliga's media rights business that could fetch $2.9 billion, sources familiar with the matter said.Deutsche Fussball Liga (DFL) plans to launch the formal sale process in early March, the sources told Reuters. One of the sources said DFL aims to find a buyer for "at least" 15% of the media rights business.The holding company that controls the media rights is valued at between 15 and 18 billion euros, the sources said, meaning a 15% stake could be worth about 2.7 billion euros ($2.9 billion).National soccer leagues in Europe are increasingly eyeing external funding around broadcasting arrangements as they look at ways to boost revenues and increase their global reach.The Bu...

Boeing to move historic financing arm under jet business

17Feb

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Business

Boeing to move historic financing arm under jet business

WASHINGTON/PARIS, Feb 16 (Reuters) - Boeing (BA.N) said on Thursday it is absorbing its decades-old aircraft-financing arm into its commercial airplanes unit as part of a push to simplify its corporate structure.After the retirement of Boeing Capital Corp (BCC) President Tim Myers this spring, Boeing said it would "realign" the financing arm within the commercial airplane unit while maintaining "strong coordination" with Boeing's treasury arm.Airfinance Journal earlier reported the move.Boeing Capital, a subsidiary of Boeing, provides asset-based financing and leasing to airlines lacking access to funding.The realignment will "focus resources on our core work of supporting our customers and their financing needs," Boeing Chief Financial Officer Brian West said in an internal memo viewed...

Workers stage largest strike in history of Britain’s health service

6Feb

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Health

Workers stage largest strike in history of Britain’s health service

Biggest strike in 75-year history of NHSGovernment urges workers to call off walkoutsUnite union calls for prime minister to hold pay talksLONDON, Feb 6 (Reuters) - Tens of thousands of nurses and ambulance service staff walked off the job on Monday in a pay dispute, putting further strain on Britain's state-run National Health Service with their largest ever strike.Nurses and ambulance workers have been striking separately since late last year but Monday's walkout involving both, largely in England, is the biggest in the 75-year history of the NHS.Nurses will also walk out on Tuesday, ambulance staff on Friday, and physiotherapists Thursday, making the week probably the most disruptive in NHS history, its Medical Director Stephen Powis said.Health workers are demanding a pay rise that ...

ABB sells its power conversion division for $505 million

20Jan

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Technology

ABB sells its power conversion division for $505 million

ZURICH, Jan 20 (Reuters) - ABB (ABBN.S) has sold its power conversion business to AcBel Polytech Inc (6282.TW) for $505 million, the Swiss engineering and technology company said on Friday.The sale is the last part of ABB's measures to trim its portfolio of companies which saw it sell its power transmission unit Dodge and spin off its turbocharging business Accelleron to shareholders.ABB said it expects to make a small non-operational book gain from the sale of the United-States-based Power Conversion business, which provides products for telecoms, data centres and general industry.Chief Executive Bjorn Rosengren said he was "delighted" with the deal which completed divisional portfolio divestments announced by ABB at the end of 2020.Power Conversion was acquired by ABB as part of the G...