Companies


    • Google to invest up to $2bn in Poland

      Google to invest up to $2bn in Poland

      Google will invest as much as $2bn to build a data centre in Poland, which will deal with cloud services, the Puls Biznesu daily said on Wednesday. News of the investment follows an announcement by Microsoft in May that it will also invest $1bn in a seperate Polish data centre, as the largest economy in the European Union’s eastern wing tries to position itself as a regional technology hub.

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    • Italy approves state guarantees for Fiat Chrysler loan

      Italy approves state guarantees for Fiat Chrysler loan

      Italy approved a decree offering state guarantees for a €6.3bn loan to Fiat Chrysler’s Italian unit, paving the way for the largest crisis loan to a European carmaker,  news wires reported. Italy’s audit court had signed off on the decree, in a final step of what had been a lengthy and contested process to get the loan approved, said a source close to the matter. The court’s approval follows an earlier endorsement by the economy ministry.

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    • Volkswagen wants to acquire car rental group Europcar

      Volkswagen wants to acquire car rental group Europcar

      Volkswagen AG is in talks to acquire French car rental firm Europcar Mobility Group SA, in a deal that would allow the German carmaker to better capitalise on its fleet, people familiar with the matter said on Tuesday. The acquisition would come as Europcar struggles to cope with the economic fallout of the COVID-19 pandemic, which has weighed on travel around the world and sapped demand for car rentals.

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    • IBM ends all facial recognition business

      IBM ends all facial recognition business

      IBM CEO Arvind Krishna announced today that the company would no longer sell facial recognition services, calling for a “national dialogue” on whether it should be used at all. He also voiced support for a new bill aiming to reduce police violence and increase accountability.

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    • BP to slash 10,000 jobs worldwide this year

      BP to slash 10,000 jobs worldwide this year

      Energy giant BP announced on Monday that its global workforce will be cut by 10,000 jobs following the widespread economic fallout from the coronavirus pandemic and the resulting slump in oil prices, news wires reported. The company’s current global workforce is 70,000.

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    • Lufthansa vows deep changes as losses rise

      Lufthansa vows deep changes as losses rise

      After posting a first-quarter net loss of €2.1bn, Lufthansa vowed to step up up restructuring measures, news wires reported. “In view of the very slow recovery in demand, we must now take far-reaching restructuring measures,” CEO Carsten Spohr said, adding the group was in talks with labour representatives over cutbacks.

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