Tech News

Airbus pays 15.9 mn euros to close French corruption probe

A French judge on Wednesday allowed European aerospace firm Airbus to pay 15.9 million euros ($16.4 million) to avoid a corruption probe into aircraft deals in Libya and Kazakhstan between 2006 and 2011.. But the company said earlier this month that the Libya and Kazakhstan probe had not been covered by that agreement "because of procedural issues".

HSBC shuts more UK branches as banking goes online

HSBC on Wednesday announced plans to permanently shut more than a quarter of its remaining bank branches in the UK as customers increasingly switch to making transactions online.. The global bank will from April close 114 branches, it said in a statement, having shut around 150 since last year.

German gas giant takes Gazprom to court over supply halts

German energy giant Uniper said Wednesday it was taking Gazprom to an international tribunal over the Russian company's failure to deliver gas, saying it has so far cost them 11.6 billion euros ($12 billion).. The German company said it had begun legal action against Gazprom at a tribunal in Stockholm, claiming damages over gas that had not been delivered since June. 

Eurozone inflation falls for first time in 17 months

The eurozone annual inflation rate fell for the first time in 17 months in November as it slowed to 10 percent, official data showed Wednesday.. "Eurozone headline inflation may now be past its peak but with core inflation unchanged in November and likely to stay well above 2 percent throughout next year, we expect the ECB to press on with another 50 basis point or even 75 basis point deposit rate hike in December," he said.

UK finance sector needs greater social mobility: study

Britain's financial and professional services sector must boost socio-economic diversity in boardrooms, helping to bridge big differences in pay, a study commissioned by the government concluded Wednesday.. Having at least half of senior leaders in the sector coming from a "non-professional" background by 2030 would help to achieve the goal, said the report by the Socio-Economic Diversity Taskforce.

EU commission recommends funding freeze for Hungary

The European Commission recommended on Wednesday that 13 billion euros ($13 billion) in EU funds for Hungary be frozen because Budapest is falling short on its commitments to meet European rule of law.. Also, 5.8 billion euros from an EU coronavirus recovery fund was frozen until Hungary showed it was meeting 27 "super milestones" for its reforms, particularly on the judiciary issue.

US private hiring eases more than expected in November: survey

US employers eased their hiring pace in November, with job creation slowing the most since early 2021, as the central bank's interest rate hikes trickle through the economy, payroll firm ADP said Wednesday.. But in November, job creation slowed by the most since January 2021, ADP said.

H&M to cut 1,500 jobs worldwide

Swedish fashion retailer H&M said Wednesday it would cut some 1,500 jobs worldwide as a result of a cost-cutting programme launched following its decision to leave the Russian market.. "The programme relates to administrative and overhead costs, and also entails reducing the workforce by around 1,500 positions," the company said in a statement.

Losses deepen at crisis-hit SAS airline

Troubled Scandinavian airline SAS, which has filed for bankruptcy in the United States, reported Wednesday deeper losses in the fourth quarter.. SAS filed for Chapter 11 bankruptcy proceedings in the United States in July -- a move allowing a company to restructure its debts under court supervision.