Europe is witnessing exciting developments in the business world with new and innovative ideas emerging every day. Here’s a look at the top 10 business news Europe stories of the week:
1. Uber announces plans to acquire UK’s Autocab
Uber has announced its plan to acquire Autocab, a UK based taxi technology firm. It’s a significant move for Uber, as it seeks to expand its operations beyond the ride-hailing industry and into delivery services.
2. Ikea announces plans to open 50 new stores in Europe
Swedish furniture giant, Ikea, announced plans to open fifty new stores in Europe, further increasing its market dominance. The new stores will bring a range of jobs, and Ikea hopes to become more customer-friendly than ever before.
3. Adidas sets out new sustainability targets
Adidas has set out ambitious sustainability targets, which include cutting plastic waste by 50% and using only recycled polyester by 2024. It’s an essential move for the sportswear giant who has been under increasing scrutiny as the public demands more environmentally conscious products.
4. Bayer reaches deal in US Monsanto Roundup lawsuits
Bayer has reached a deal to pay $10.9 Billion to settle approximately 100,000 US lawsuits related to Monsanto’s Roundup weed killer. The deal extinguishes the threat of future legal action in the US, which has been a significant issue for the company since acquiring Monsanto in 2018.
5. Three German firms sign a deal to develop hydrogen train
Three German companies, Alstom, Linde, and Siemens, have signed an agreement to develop a hydrogen-powered train. It’s part of Germany’s plan to become a leading market in climate-friendly hydrogen technologies and provides a significant boost to the hydrogen industry.
6. Ryanair warns of job losses due to reduced passenger numbers
Ryanair will be forced to cut jobs due to reduced passenger numbers amid the global pandemic, warns CEO Michael O’Leary. The company continues to face significant uncertainty across Europe as the ongoing COVID-19 pandemic affects the aviation industry severely.
7. VW and Kia hail strong August sales in Europe
German automaker Volkswagen and South Korean automaker Kia reported strong sales figures in Europe in August. Both companies see this as an optimistic sign of the broader recovery of the automobile industry in Europe.
8. Nokia wins deal to build mobile network on the moon
Nokia has won a NASA contract to build the first-ever cellular network on the moon. The proposed network will enable communication between lunar landers, rovers, and astronauts and has the potential to support long-term human settlement on the moon.
9. Google introduces new privacy controls for its ‘smart home’ devices
Google has unveiled new privacy features for its ‘smart home’ devices, including cameras and speakers. The move comes amid increased scrutiny to protect the privacy of users of smart home technology.
10. Air-France-KLM announces a €6 Billion aid from French government
Air-France-KLM has announced a €6 Billion aid package from the French government to help it survive the pandemic. The move comes after the airline faced a sharp decline in traffic earlier this year due to the pandemic.
In conclusion, the business world in Europe is continually evolving, and these top 10 business news Europe stories of the week demonstrate that there’s a lot to look forward to. Companies are pushing the boundaries of what’s possible and are constantly finding innovative solutions to meet the changing needs of the market and its customers. By staying up to date on the latest business news, investors and industry experts can make informed decisions that can help shape the future of business in Europe and beyond.
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