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Swedish battery maker Northvolt to slash 1,600 jobs, quarter of staff
Swedish battery maker Northvolt to slash 1,600 jobs, quarter of staff

Sweden's beleaguered electric car battery maker Northvolt said Monday it would cut a quarter of its staff in the country, as it struggles with strained finances and a slowdown in demand. The loss of 1,600 jobs in Sweden comes as electric car sales slump in Europe and the continent lags far behind China in battery production.

UniCredit ups stake in Commerzbank to 21 percent
UniCredit ups stake in Commerzbank to 21 percent

Italian lender UniCredit said on Monday it has increased its stake in Commerzbank to around 21 percent, fuelling speculation that it could seek a takeover of its German rival. Before UniCredit took a stake in the German lender, Berlin had announced that it was looking to sell down its 16.5-percent stake in Commerzbank, citing the bank's improved economic situation.