Companies


    • Global cleaning giant sheds 100,000 jobs

      Global cleaning giant sheds 100,000 jobs

      ISS of Denmark, the world's largest cleaning company, is planning to get rid of about 100,000 jobs as it plans on exiting 13 countries that were among its least profitable markets. The move represents about a fifth of the company’s global workforce, but will also allow ISS to focus on a smaller group of larger clients.

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    • Facebook pays €100m in Italian fiscal accord

      Facebook pays €100m in Italian fiscal accord

      Facebook has followed Apple, Google and Amazon by agreeing to a multimillion euro payment to settle its tax affairs in Italy. In a statement on Friday, the country’s tax authority Agenzia delle Entrate confirmed that the company has agreed to pay “over €100 million” to settle outstanding tax claims dating from 2010 to 2015. As the tax agency added, in reference to a probe launched last year, that the settlement is aimed at ending the “disagreement relating to tax enquiries undertaken by the financial police at the behest of the Milan prosecutor."

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    • IKEA Group cuts 5% of its current workforce

      IKEA Group cuts 5% of its current workforce

      IKEA Group, the owner of most IKEA furniture stores worldwide announced on Wednesday that it plans on cutting 7,500 jobs over the next couple of years, mainly administrative staff in central support functions. The expected redundancies amount to almost five percent of the company’s current workforce and are related to central functions and global service offices in particular, but also local service offices across markets.

       

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    • Nissan chairman accused of significant acts of misconduct

      Nissan chairman accused of significant acts of misconduct

      Nissan Chairman Carlos Ghosn, who became one of the auto industry’s most powerful executives by engineering a turnaround at the Japanese manufacturer, was arrested Monday and will be fired for allegedly under-reporting his income and misusing company funds for personal gain. Along with him, another senior executive, Representative Director Greg Kelly, was also arrested and accused of offences involving millions of dollars that were discovered during a months-long investigation set off by a whistleblower.

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    • YouTube warns against Article 13 consequences

      YouTube warns against Article 13 consequences

      The controversial EU’s copyright directive, Article 13 has come under scrutiny yet again from national and international media, after YouTube CEO Susan Wojcicki publicly warned that if the European Parliament passes Article 13, it “will create unintended consequences that will have a profound impact on the livelihoods of hundreds of thousands of people.”

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    • Facebook gives special access to French regulators

      Facebook gives special access to French regulators

      Starting from January, Facebook will give French regulators unprecedented access to its internal processes, so they could examine the social network's human and algorithmic moderation processes and verify Facebook’s goodwill. The informal investigation will continue six months and is aimed at monitoring how Facebook manages and removes certain kinds of illicit content as part of a pilot program to establish a new model for regulating global technology companies determine.

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    • VW to produce more than 50m electric cars

      VW to produce more than 50m electric cars

      Volkswagen is readying its production facilities to make 50m electric cars over the next several years, the automaker’s CEO Herbert Diess told Automotive News in an interview published 12 November. The announcement comes as Volkswagen continues to move past the 2015 Dieselgate emission scandal and follows the UK ban on new diesel vehicles altogether.

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    • Alibaba nets record $30bn in Singles' Day sales

      Alibaba nets record $30bn in Singles' Day sales

      Chinese e-commerce giant Alibaba Group Holding Ltd made a record 213.5bn yuan ($30.7bn) in sales on Sunday during its annual 24-hour online retail frenzy Singles’ Day, showing robust consumer demand despite concerns about China’s economic growth slowdown. The 10th annual Chinese shopping bonanza, which was originally a novelty student holiday to celebrate being single, countering Valentines Day,  got off to a strong start with sales hitting $1bn in the first minute and 25 seconds. Just over an hour in, and sales exceeded $10bn. In under sixteen hours, furthermore, company's sales have already surpassed last year's record of $24.15bn, with more than a billion orders made.

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