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The European Commission Fines Automakers with 875 Million Euros for Cartel Formation
The European Commission fines car manufacturers BMW, Volkswagen, Audi and Porsche a total of almost 875.2 million euros for cartel formation. All manufacturers admitted that they were part of a group that agreed on the emission of harmful…
IMF Expects Strongest US Economy Growth Since 1984
The United States economy is expected to grow significantly faster this year than previously thought due to the strong recovery after the corona crisis. So says the International Monetary Fund (IMF). Growth of 7 percent is expected, which…
KLM Abandons Controversial Roster Plan for Part-Timers
KLM is abandoning a plan to allow ground staff part-timers to come to work for an extra day. The airline wanted to spread the hours of part-timers more over the whole week to hire fewer temporary workers and save up to 7.5 million euros.…
British Deliveroo Deliverers are Independent Entrepreneurs
Meal deliverers who work for Deliveroo in the UK are self-employed. The British Court of Appeal has decided that in a case brought by the trade union IWGB. The ruling is good for Deliveroo because the self-employed deliverers are an…
EU Agrees on Distribution of Billions Fund for Brexit Damage
Negotiators from EU countries and the European Parliament have agreed on distributing an aid fund for fishermen and other victims of Brexit.
The fund contains 5 billion euros, of which the Netherlands roughly counts on 810 million.…
Real Estate Companies and Tech Sector Put Nikkei on A Profit
The Tokyo stock exchange closed with an apparent gain on Tuesday. In particular, the technology companies did well thanks to a new closing record of the American tech indicator Nasdaq.
Real estate companies also continued to…
Tesla Accepts Bitcoin Again When Using Green Energy
Tesla will only accept bitcoin again as a means of payment if that digital currency starts to run on more green energy. If half of the energy consumption comes from renewable sources, that is acceptable. Tesla CEO Elon Musk made this known…
Chinese Taxi App Didi Continues Plans for IPO in New York
Chinese taxi app Didi Chuxing is pushing ahead with plans for an IPO in New York. It could be the biggest IPO of the year. Didi is the largest player in the taxi market in China.
The company is also mainly active in Latin America…
Australia Calls on G7 to Rein in Powerful Countries
Australia is calling on G7 countries to review global trade rules to prevent powerful countries from using economic coercion.
Australian Prime Minister Scott Morrison told the Australian think tank Perth USAsia Center ahead of the…
Nikkei Closes Lower Despite Better Than Expected Contraction in Japan Economy
The Tokyo stock exchange closed slightly lower on Tuesday. A better than expected contraction of the Japanese economy in the first quarter limited the loss.
Investors, however, remained cautious in anticipation of key US inflation…