Nokia on Tuesday announced plans to cut up to 10,000 jobs within two years to trim costs and invest more in research capabilities, as the Finnish telecoms group seeks to step up its challenge to Sweden’s Ericsson and China’s Huawei.
Carmaker Volkswagen plans to cut up to 4,000 jobs at its plants in Germany by offering early or partial retirement to older employees in a move that could cost several hundred million euros, company sources said.
OPEC and allies such as Russia will ease record oil supply curbs from August as the global economy slowly recovers from the coronavirus pandemic, Saudi Energy Minister Prince Abdulaziz bin Salman said on Wednesday.
Britain's Chancellor of the Exchequer Rishi Sunak is preparing to introduce sweeping tax cuts and an overhaul of planning laws in up to 10 new “freeports” within a year of the UK's becoming fully independent from the European Union in December, the Sunday Telegraph said.
Emirates Group is planning to cut about 30,000 jobs to reduce costs amid the coronavirus outbreak, which will bring down its number of employees by about 30 percent from more than 105,000 at the end of March.
OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil supply by 20%.