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BusinessGreek Factory Output Grows but Demand Stays Weak in October, PMI Shows
Top StoriesAsia Markets Start Big Month on Cautious Footing as US Jobs Data Looms
FinanceVw Proposes 10% Pay Cut to Tackle Crisis
BusinessUK’s Reeves Raises Employers’ National Insurance Contributions
UK Raises Minimum Wage by 6.7% in Boost for Workers, Despite Employer Unease
Date: October 30, 2024
By Andy Bruce (Reuters) – Britain’s minimum wage for most adults will increase by 6.7% from April next year, a boost for low-paid workers but a concern for employers who are finding it harder to implement such rises. Finance minister Rachel Reeves announced the increase on the eve of delivering her first budget, which...
Santander CEO Says More Than 1,400 UK Bank Jobs Being Cut
Date: October 29, 2024
MADRID (Reuters) – Santander will have cut more than 1,400 jobs from its British business by the time it completes an ongoing cost-cutting round, the Spanish bank’s CEO Hector Grisi said on Tuesday. Grisi did not give an exact timeline of when the previously announced round of lay-offs had been carried out, but said “1,425...
Volkswagen’s Audi in Talks With Potential Investor for Brussels Site
Date: October 29, 2024
BERLIN (Reuters) – Volkswagen’s luxury division Audi is in talks with a potential investor for its struggling Brussels plant, a company spokesperson said on Tuesday. A working group on alternative uses for the plant is also ongoing, said the spokesperson, who added that it has not yet come to a conclusion. According to company sources,...
German Car Industry Transformation Could Cost 186,000 Jobs by 2035, Study Finds
Date: October 29, 2024
BERLIN (Reuters) – The transformation of the German car industry could lead to 186,000 jobs losses by 2035, of which roughly a quarter have already occurred, a study commissioned by the VDA auto industry association released on Tuesday showed. The 46,000 jobs already lost between 2019 and 2023 were due mainly to the transition to...
German Metal, Electric Industries Plan Tuesday Strikes Over Wage Row, Union Says
Date: October 29, 2024
BERLIN (Reuters) – Workers in Germany’s electrical engineering and metal industries will launch strikes on Tuesday to put pressure on employers to increase their pay, according to a statement from the IG Metall union. Tuesday marks the end of a truce period accompanying collective bargaining negotiations, in which the union has said a proposed...
German Metal, Electric Industries Plan Tuesday Strikes Over Wage Row, Union Says
Date: October 28, 2024
BERLIN (Reuters) – Workers in Germany’s electrical engineering and metal industries will launch strikes on Tuesday to put pressure on employers to increase their pay, according to a statement from the IG Metall union. Tuesday marks the end of a truce period accompanying collective bargaining negotiations, in which the union has said a proposed pay...