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Volkswagen to cut 30,000 jobs to reduce costs after emissions scandal

Automaker Volkswagen said Friday it will shed 30,000 jobs to cut costs as it tries to recover from its diesel emissions scandal and invests more in electric-powered vehicles and digital services. Company officials said at a news conference at headquarters in Wolfsburg, Germany, that 23,000 of the job cuts will …

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Oil climbs to three-week high as dollar, yields dip

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Oil prices rose to three-week highs on Monday, supported by a weak dollar and helping to nudge a gauge of inflation expectations in the euro zone to its highest since January. Oil and gas and other commodity-related shares rose, lifting European stock markets after slight falls in Asia. Wall Street …

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Ethiopia airlines increases weekly flights to Cape Town

Ethiopian Airlines are set to increase the frequency of their flights to Cape Town in South Africa. The Addis Ababa – Cape Town route was launched in June 2015 with six scheduled flights per week. But from December 1, the Ethiopian national carrier will add four more flights to the …

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South Africa sets out planned minimum wage level

South Africa’s government has proposed a national minimum wage of 3,500 rand ($242; £199) a month. About 47% of working South Africans earn less than the wage, which is being introduced to combat income poverty and inequality. But critics say it could put more people out of work as employers …

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Facebook plans to hire 500 more employees in UK

Facebook plans to expand its presence in the UK and will hire 500 additional employees at its new London headquarters, which will open in 2017. The American social media giant is set to announce on Monday (21 November) that it will up its headcount in the UK by 50%. It …

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VW Said to Cut 30,000 Jobs, Save $3.9 Billion in Labor Pact

Volkswagen AG reached a landmark agreement with workers to cut as many as 30,000 jobs globally and save 3.7 billion euros ($3.9 billion) in expenses as the company tries to claw back from the emissions-cheating scandal and invest in electric vehicles. Reducing headcount by nearly 5 percent will come through …

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