Companies

Shein's Trendy Clothes Found to Contain Toxic Chemicals in New Investigation
July 26, 2024
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Shein's Trendy Clothes Found to Contain Toxic Chemicals in New Investigation

An investigation by German consumer magazine Ökotest has revealed the presence of harmful chemicals, including antimony, lead, and cadmium, in Shein clothing, sparking widespread concern over potential health risks.

ZF to Slash Up to 14,000 Jobs in Germany
July 26, 2024
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ZF to Slash Up to 14,000 Jobs in Germany

ZF, a major German automotive supplier, plans to reduce its workforce in Germany by up to 14,000 employees by 2028 to adapt to the changing automotive landscape and address financial challenges.

Revolut Secures Coveted UK Banking License After Years-Long Wait
July 25, 2024
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Revolut Secures Coveted UK Banking License After Years-Long Wait

Revolut, the UK's leading fintech disruptor, has finally achieved a long-sought milestone by securing a UK banking license after a three-year wait. This significant breakthrough, albeit with certain restrictions, will enable Revolut to hold customer deposits and expand its product offerings, including loans and mortgages.

Deutsche Bahn to Cut 30,000 Jobs After €1.2bn Loss in First Half of 2024
July 25, 2024
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Deutsche Bahn to Cut 30,000 Jobs After €1.2bn Loss in First Half of 2024

Deutsche Bahn (DB), has announced plans to cut 30,000 jobs over the next five years as it grapples with a significant financial loss of €1.2bn in the first half of 2024. In an effort to improve its financial standing and address declining ridership, DB is also exploring route adjustments and tariff changes.

Alstom Secures Record €4bn Contract for 90 Adessia Stream Trains in Germany
July 24, 2024
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Alstom Secures Record €4bn Contract for 90 Adessia Stream Trains in Germany

Alstom has won a €4 Billion contract to supply 90 innovative commuter trains and provide 34 years of maintenance for the S-Bahn Cologne network in Germany, marking the company's largest order in the country.

Italian Authorities Seize €121mn from Amazon in Tax Fraud Probe
July 24, 2024
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Italian Authorities Seize €121mn from Amazon in Tax Fraud Probe

Italian financial police have confiscated €121 million from an Amazon branch in Milan, accusing the e-commerce giant of tax evasion and exploiting workers through illegal subcontracting schemes.

Over 1,500 Jobs Lost Despite Partial Rescue of Carpetright
July 23, 2024
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Over 1,500 Jobs Lost Despite Partial Rescue of Carpetright

Despite being partially acquired by rival Tapi Carpets & Floors, Carpetright will lay off over 1,500 employees as it enters insolvency, marking the end of an era for the struggling flooring retailer.

Supply Chain Crisis Forces Airbus to Turn Down Orders Despite Record Demand
July 23, 2024
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Supply Chain Crisis Forces Airbus to Turn Down Orders Despite Record Demand

Airbus, is facing a surge in demand for its planes following the aviation industry's post-pandemic recovery. However, supply chain constraints are hindering its production capacity, forcing the company to decline orders.

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