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German auto supplier Continental to cut 3,000 more jobs
German auto supplier Continental to cut 3,000 more jobs
by  AFP

German auto supplier Continental said Tuesday it will cut a further 3,000 jobs by the end of 2026, the latest sign of weakness for the country's auto sector. Sports car maker Porsche announced 1,900 layoffs last week, citing weak demand for its electric cars, and Volkswagen last December reached an agreement with unions to cut 35,000 jobs across its German locations by 2030.

After Trump tariffs, EU must urgently revamp economy: Draghi
After Trump tariffs, EU must urgently revamp economy: Draghi
by  AFP

Radically changing the European economy is more urgent than ever after US threats of a trade war with the EU, the author of a seminal report, Mario Draghi, warned Tuesday. "The sense of urgency to undertake the radical change that the report advocated has become even greater," Draghi told the European Parliament.

UK court backs £3 bn loan for indebted Thames Water
UK court backs £3 bn loan for indebted Thames Water
by  AFP

A court on Tuesday approved a £3 billion ($3.8 billion) emergency loan for Britain's largest water supplier Thames Water, offering it a lifeline as it buckles under a mountain of debt. To help turn its fortunes around, Thames is appealing to Britain's water regulator to hike its bills further and is looking to attract takeover offers.

German 'bureaucracy monster' on everyone's election hit list
German 'bureaucracy monster' on everyone's election hit list
by  AFP

German politicians make a lot of laws and regulations but on the campaign trail many rage against the country's notorious bureaucracy, labelling it a monster that needs to be slayed. Conservative poll frontrunner Friedrich Merz -- who once famously argued a tax return should fit onto a beer coaster -- has vowed to go to war against the "bureaucracy monster".