Western Europe

Portugal's leading court has ruled that 1,200 TAP cabin crew members on shortterm contracts who were laid off and later reinstated as staff needs to get retroactive pay, a decision that might cost the airline company as much as 300 million euros ($ 315 million). The Supreme Court ruling, dated Dec. 12 and seen on Tuesday, stated TAP should deal with the cabin personnel as if they had constantly been on irreversible contracts and compensate them with back incomes dating from the start of their work. The judgment impacts flight workers who were initially hired for one year in 2020...

Embraer said on Tuesday that Luxembourgbased Luxair has actually placed a firm order for 2 more E195E2 jets, bumping up its 2023 order of 4 aircraft and helping to drive shares of the Brazilian planemaker higher. The very first Luxair E2 is anticipated to be provided in 2026, the Brazilian business stated in a statement, including that the new company order provides the carrier with additional delivery slots for 2027. Luxembourg's flag carrier still holds shipment positions for 3 other jets, Embraer said in a statement, which could be transformed into orders for the smaller E190-E2 plane if required. Embraer's...

German political celebrations presented their election programmes on Tuesday, a day after parliament backed a noconfidence movement in Chancellor Olaf Scholz's federal government, leading the way for a snap election on Feb. 23. Arguments over how to conserve Europe's largest economy had been the primary aspect behind the collapse of Scholz's fractious three-party union last month, and the economy is the top issue of German citizens. Germany has actually gone from being Europe's economic powerhouse to underperforming its significant euro zone peers. The economy is anticipated to agreement in 2024 for the 2nd successive year. Here is what is understood...

Germany's main political celebrations will provide their election programs on Tuesday, a day after parliament backed a noconfidence movement in Chancellor Olaf Scholz's government, leading the way for a breeze election on Feb. 23. Disputes over how to conserve Europe's biggest economy had been the main element behind the collapse of Scholz's fractious threeparty union last month, and the economy is the top issue of German voters. Germany has actually gone from being Europe's economic powerhouse to underperforming its significant euro zone peers. The economy is anticipated to agreement in 2024 for the second successive year. Here is what is...

The European Commission on Monday granted agreements to press forward delayed prepare for a. 10.6 billion euro ($ 11.13 billion) safe and secure European satellite. constellation in response to Elon Musk's Starlink and other. fastgrowing web networks. The multi-orbit array of more than 280 satellites known as. IRIS ² will supply an encrypted foundation for European Union. federal governments and public agencies, and develop brand-new commercial. services. In an increasingly intricate geopolitical world, making sure. resilient, protected and quick governmental communications is. essential, Josef Aschbacher, director general of the 22-nation. European Area Company, stated in a statement, adding it would....

Austria's conservativeled government stated on Friday it is offering Syrian refugees a. return benefit of 1,000 euros ($ 1,050) to move back to their. home nation after the fall of Bashar alAssad. Conservative Chancellor Karl Nehammer responded quickly to. Assad's topple on Sunday, stating the same day that the. security situation in Syria need to be reassessed so regarding enable. deportations of Syrian refugees. Deporting people against their will is not possible until it. ends up being clearer what instructions Syria is taking. In the meantime,. Austria's federal government has said it will focus on voluntary. deportations. It has also...

Airtaxi maker Archer Aviation stated on Thursday it has raised $430 million in fresh capital, part of which will be utilized to establish a hybrid aircraft with defense tech company Anduril Industries. Shares of Archer were down 4% in early trading. Existing investors United Airlines and Stellantis along with new backers such as Wellington Management and Abu Dhabi financial investment holding business 2PointZero took part in the fundraising, which was through an equity offering. Anduril, which was established by business owner Palmer Luckey, and Archer said the airplane would target a possible program. of record-- a federal government authorized and...

Germany's brand-new government must relieve the financial burden on air travel to make sure the industry stays competitive, federal state leaders said on Thursday, calling for high cuts in taxes and charges as a top priority. While a lot of other European markets have actually conquered the crises of current years and accomplished brand-new records in recent months, high location expenses mean Germany lags other markets in Europe in regards to passenger numbers, German airport operator Fraport stated last month. A global center like Germany can no longer pay for state-imposed competitive drawbacks, stated Hesse's state primary Boris Rhein, after...

Airtaxi maker Archer Air travel said on Thursday it has raised $430 million in fresh capital, part of which will be used to establish a hybrid aircraft with defense tech business Anduril Industries. Existing financiers United Airlines and Stellantis as well as new backers such as Wellington Management and Abu Dhabi financial investment holding company 2PointZero participated in the fundraising, which was through an equity offering. Anduril, which was established by business owner Palmer Luckey, and Archer stated the airplane would target a potential program. of record-- a government approved and licensed acquisition. program-- from the Pentagon. The business did...

British power company Drax said on Thursday it had reached an agreement on the terms of a multiyear supply offer of biomass pellets for Pathway Energy's proposed sustainable air travel fuel job in the United States. Under the deal, Drax will provide more than 1 million tonnes a year of sustainable biomass pellets to the plant on the U.S. Gulf Coast. The plant will produce 30 million gallons of carbon negative jet fuel annually, equivalent to more than 150 million gallons of carbon-neutral blended sustainable air travel fuel (SAF). The plant must begin building and construction in 2026 and commercial...

Italian state broadcaster RAI is taking early actions towards a potential merger between its Milanlisted tower unit RaiWay and competing EI Towers, two sources near to the matter informed Reuters. A tie-up between RaiWay and EI Towers, which is owned by Italian infrastructure fund F2i and Italy's top commercial broadcaster MFE has actually been mooted for several years. It would create a nationwide broadcasting tower champion worth nearly 4 billion euros ($ 4.21 billion), when including financial obligation. RAI's board of directors may go over a preliminary non-binding arrangement to initiate talks with EI Towers investors on an offer at...

EasyJet is set to improve its presence at Milan Linate and Rome Fiumicino airports, gaining from a plan of solutions the European Union needed to authorize a tieup between Lufthansa and ITA Airways. Beginning with March, easyJet will base 5 extra airplanes at Linate and three at Fiumicino, taking its country total to 38 and making Italy its second biggest market after Britain, the business stated throughout a press conference in Milan. The new routes will link Linate with Vienna, Brussels and Frankfurt. Routes to Hamburg, Frankfurt, Munich, Zurich and Brussels will be offered from Fiumicino. The European Commission last...

Italy's tax authorities on Tuesday browsed the headquarters of 9 courier companies for alleged false billings benefiting ecommerce and logistics giants Amazon , SDA and GLS, according to a search order reviewed by Reuters. Prosecutors in the northwestern city of Turin are examining Amazon Italia Transport and Amazon City Logistica, Italian units of Amazon, SDA Express Carrier and General Logistics System Business (GLS) for supposed tax fraud and illegal labour practices, according to the 23-page order. SDA belongs to Poste Italiane, while GLS is a. subsidiary of British group International Circulation Services . Poste decreased to comment. Amazon had no...

The following are the leading stories in the Financial Times. Reuters has actually not confirmed these stories and does not vouch for their accuracy. Headlines Royal Mail is out of British hands after ministers authorized its sale to Daniel Kretinsky Previous Tory minister Greg Clark joins Labour's commercial method council Expense of HS2 could strike 66 billion pounds, according to management price quote Overview Kretinsky's billion dollar deal to purchase Royal Mail owner International Circulation Services was struck in May, the final arrangement just came on Monday after his EP Group made commitments to the UK government. Greg Clark, the...

The following are the top stories on business pages of British papers. Reuters has not validated these stories and does not vouch for their accuracy. The Times - The UK government is to take a golden share in Royal Mail as part of a contract with Czech billionaire Daniel Kretinsky that paves the way for a 3.6 billion pounds ($ 4.57 billion). overseas takeover of the previous state postal operator. - Arm Holdings chief executive Rene Haas has actually been. selected as a non-executive director of AstraZeneca as. part of a refresh of the board of Britain's most important public....

Czech billionaire Daniel Kretinsky's. EP Group stated on Monday it consented to certain terms with the UK. government for its takeover of Royal Mail's parent, paving method. for a thumbs-up on the tightlyscrutinised offer. Royal Mail moms and dad International Circulation Services (IDS). had actually accepted a 3.57 billion pound ($ 4.51 billion). takeover by EP Group in May, and the deal has actually faced review under. the National Security and Financial Investment Act given that August. As part of the concurred terms, no additional security or. assurances can be put on Royal Mail's properties for five years. after the...

The following are the top stories in the Financial Times. Reuters has not verified these stories and does not attest their precision. Headlines UK authorizes Daniel Kretinsky's $6.7 bln quote for Royal Mail moms and dad Revolut backers unload nearly $1bn of stock Treasury insists on no spring Budget plan in spite of worries of financial rule breach Introduction The British federal government has actually approved Czech billionaire Daniel Kretinsky's 5.3-billion-pound ($ 6.69 billion) takeover of Royal Mail owner International Distribution Services. Revolut personnel and early investors have actually unloaded practically $1. billion of stock considering that August, after the...

The British government has actually approved Czech billionaire Daniel Kretinsky's 5.3 billionpound ($ 6.69. billion) takeover of Royal Mail owner International Distribution. Solutions, the Financial Times reported on Monday. The approval is set to be revealed as early as Monday. early morning, the report stated, citing people knowledgeable about the. matter. International Distribution Services (IDS) and the. Competition and Markets Authority, Britain's competitors. regulator, did not right away react to a Reuters request for. remark. Kretinsky and IDS had actually reached an arrangement in May on the. offer, which was expected to go through intense government analysis,. specifically during an...

Britain's media regulator Ofcom on Friday fined Royal Mail, owned by International Circulation Solutions (IDS), 10.5 million pounds ($ 13.26 million). for failing to satisfy delivery targets over the past year. This is the second fine issued versus the business after it. was fined $6.9 million in November 2023 for stopping working to satisfy. delivery targets. This is the second time we have actually fined the company since the. pandemic. Royal Mail has actually provided an enhancement plan, and we're. seeing some signs of progress, but it must go even more and faster. to provide the service that individuals expect,...

U.S. Postmaster General Louis DeJoy protected plans to buy a rising number of electric delivery lorries and said he did not plan to return funding allocated for zeroemission models without legislation from Congress. In 2023, Congress provided USPS $3 billion as part of a $430. billion environment expense to buy EVs and charging infrastructure--. consisting of $1.2 billion for electrical cars. It prepares to purchase. some 66,000 electrical cars by 2028. DeJoy stated at a U.S. Legislature hearing on. Tuesday that the EV purchase strategy makes service sense for USPS. Reuters reported recently that Donald Trump's shift. group is thinking...

Donald Trump's transition group is considering canceling the U.S. Postal Service's agreements to energize its delivery fleet, as part of a wider suite of executive orders targeting electric cars, according to three sources knowledgeable about the strategies. The relocation, which could be unveiled in the early days of Trump's administration that begins on Jan. 20, is in line with Trump's project guarantees to roll back President Joe Biden's. efforts to decarbonize U.S. transportation to combat environment. change-- a program Trump has actually stated is unnecessary and possibly. damaging to the economy. Reuters has previously reported that Trump is preparing to....

Donald Trump's transition group is considering canceling the U.S. Postal Service's contracts to amaze its shipment fleet, as part of a more comprehensive suite of executive orders targeting electric automobiles, according to three sources acquainted with the strategies. The move, which might be revealed in the early days of Trump's administration that begins on Jan. 20, remains in line with Trump's project assures to roll back President Joe Biden's. efforts to decarbonize U.S. transportation to combat environment. modification-- a program Trump has stated is unneeded and possibly. harming to the economy. Reuters has previously reported that Trump is planning to....

Donald Trump's transition group is thinking about canceling the United States Postal Service's. agreements to electrify its shipment fleet, as part of a broader. suite of executive orders targeting electrical lorries, according. to 3 sources knowledgeable about the strategies. The relocation, which might be revealed in the early days of. Trump's administration that starts on Jan. 20, is in line with. Trump's campaign promises to roll back President Joe Biden's. efforts to decarbonize U.S. transportation to combat environment. change-- an agenda Trump has stated is unneeded and potentially. damaging to the economy. Reuters has formerly reported that Trump is planning...

Donald Trump's shift group is thinking about canceling the United States Postal Service's. contracts to energize its shipment fleet, as part of a wider. suite of executive orders targeting electrical cars, according. to 3 sources acquainted with the strategies. The move, which could be revealed in the early days of. Trump's administration that starts on January 20, remains in line. with Trump's campaign assures to roll back President Joe. Biden's efforts to decarbonize U.S. transportation to fight. environment modification-- a program Trump has said is unneeded and. potentially damaging to the economy. Reuters has previously reported that Trump is preparing...