Saturday, 4 July 2020

Business

Nissan to cut 10,000 worldwide

TOKYO: Japanese car giant Nissan plans to cut more than 10,000 jobs around the world as part of efforts to turn itself around, Japanese media said Wednesday, citing company sources. The cuts come after Nissan announced in May it would trim 4,800 jobs from its global workforce of around 139,000. ...

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Uber Freight launches in Germany

FRANKFURT: US ride-hailing company Uber is launching a freight platform in Germany, taking on local technology startups in a race to grab a share of Europe’s $500 billion trucking market. Germany will be Uber Freight’s second market to go live on the continent after the Netherlands, an executive told Reuters, ...

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Deutsche Bank bigger than forecast quarterly loss

FRANKFURT: Deutsche Bank reported a bigger than forecast quarterly loss of 3.15 billion euros ($3.5 billion) because of major costs stemming from its efforts to reshape its business. Deutsche Bank had earlier this month flagged it would lose around 2.8 billion euros in the quarter when it announced a restructuring ...

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French inventor whose flying board wowed the world

PARIS: Is that Iron Man or Green Goblin? No, it is Frank Zapata who is demonstrating his flyboard for President Emmanuel Macron and EU leaders! Frank Zapata is a French inventor who whizzed above the Champs-Elysees in Paris as a part of the Bastille Day celebrations. 🇫🇷 #14Juillet L’arrivée du ...

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Tokyo stocks close lower as eyes turn to earnings

TOKYO stocks closed lower as Japan’s ruling bloc retained its majority in the upper house as widely expected, with focus now shifting to corporate earnings announcements this week. The benchmark Nikkei 225 index lost 0.23 percent, or 50.20 points, to 21,416.79, while the broader Topix index fell 0.49 percent, or ...

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Lebanon bank deposits expected to recover from dip

BEIRUT: Deposits in Lebanese banks are expected to recover from a dip in the first five months of 2019 as customer optimism returns after approval of the state budget, the chairman of the Association of Banks in Lebanon said. Salim Sfeir said deposits had fallen to $176 billion at the ...

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British Airways, Lufthansa suspend Cairo flights

LONDON: British Airways and Lufthansa both said Saturday they were suspending flights to Cairo for unspecified reasons related to safety and security. The British carrier said it was cancelling flights to the Egyptian capital for a week. The German airline said normal operations would resume Sunday. Both carriers delivered two-sentence ...

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Hammond says will resign if Johnson becomes PM

LONDON: Britain’s finance minister Philip Hammond said on Sunday he would resign on Wednesday before his expected sacking by the favorite to become Britain’s next prime minister, Boris Johnson, takes office. “I am sure I am not going to be sacked because I am going to resign before we get ...

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Polish regulator calls for legal changes to enable 5G roll-out

WARSAW: Poland’s telecom regulator has urged the government to press ahead with regulatory changes related to permissible radiation levels that are key to rolling out next-generation 5G networks in the country in line with European Union requirements. As an EU member Poland is obliged to have an operational 5G network ...

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