
-
Kenya's economy faces climate change risks: World Bank
-
With tariff war, Trump also reshapes how US treats allies
-
Penguin memes take flight after Trump tariffs remote island
-
Tom Cruise pays tribute to Val Kilmer
-
'Everyone worried' by Trump tariffs in France's champagne region
-
UK avoids worst US tariffs post-Brexit, but no celebrations
-
Canada imposing 25% tariff on some US auto imports
-
Lesotho, Africa's 'kingdom in the sky' jolted by Trump
-
Trump's trade math baffles economists
-
Macron calls for suspension of investment in US until tariffs clarified
-
Trump tariffs hammer global stocks, dollar and oil
-
Mexico president welcomes being left off Trump's new tariffs list
-
Lesotho hardest hit as new US tariffs rattle Africa
-
Stellantis pausing some Canada, Mexico production over Trump auto tariffs
-
Rising odds asteroid that briefly threatened Earth will hit Moon
-
Is the Switch 2 worth the price? Reviews are mixed
-
Countries eye trade talks as Trump tariff blitz roils markets
-
AI could impact 40 percent of jobs worldwide: UN
-
US trade partners eye talks after Trump tariff blitz
-
Dollar, stocks sink as gold hits high on Trump tariffs
-
Trump tariff blitz sparks retaliation threats, economic fears
-
Lessons and liquids: buried alive in Myanmar's earthquake
-
Nintendo Switch 2 sparks excitement despite high price
-
Sri Lanka's crackdown on dogs for India PM's visit sparks protest
-
China vows 'countermeasures' to sweeping new US tariffs
-
Trump jolts allies, foes and markets with tariff blitz
-
How Trump's 'liberation day' tariffs will impact China
-
Europe hits out at Trump tariffs, keeps door open for talks
-
Australia sweats through hottest 12 months on record: official data
-
South African artist champions hyenas in 'eco-queer' quest
-
Taiwan says US tariffs 'highly unreasonable'
-
Trump escalates trade war with sweeping global tariffs
-
China says opposes new US tariffs, vows 'countermeasures'
-
Quake-hit Myanmar's junta chief to head to Bangkok summit
-
New Spielberg, Nolan films teased at CinemaCon
-
Shiny and deadly, unexploded munitions a threat to Gaza children
-
Stocks tank, havens rally as Trump tariffs fan trade war
-
Financial markets tumble after Trump tariff announcement
-
Europe riled, but plans cool-headed response to Trump's tariffs
-
'Shenmue' voted most influential video game ever in UK poll
-
Revealed: Why monkeys are better at yodelling than humans
-
Key details on Trump's market-shaking tariffs
-
US business groups voice dismay at Trump's new tariffs
-
Trump sparks trade war with sweeping global tariffs
-
US stocks end up, but volatility ahead after latest Trump tariffs
-
Boeing chief reports progress to Senate panel after 'serious missteps'
-
Is Musk's political career descending to Earth?
-
On Mexico-US border, Trump's 'Liberation Day' brings fears for future
-
Tesla sales slump as pressure piles on Musk
-
Amazon makes last-minute bid for TikTok: report

Job cuts report worries employees at Germany's Commerzbank
Suggestions that German lender Commerzbank was considering cutting thousands of jobs as it fights off an unwanted advance from Italy's UniCredit had unsettled employees, a senior trade union official said Monday.
A plan to significantly reduce the headcount at Germany's second-largest bank would be presented to the works council in the weeks ahead, the Financial Times daily reported on Saturday, citing two sources familiar with the matter.
Frederik Werning, Verdi trade union official and a member of the supervisory board at Germany's second-largest lender, said rumoured redundancies had caused "uncertainty among employees".
The union's "absolute priority" was to "consistently represent and defend employees", Werning said.
Takeover speculation has surrounded Commerzbank since September after Italy's UniCredit revealed that it had acquired 9.5 percent of the German bank, buying parts of the stake directly from the German government.
In December, UniCredit said it had raised its stake in its rival to 28 percent, the majority of which was held through derivatives as it awaits regulatory approval to take direct control of the shares.
German law obliges UniCredit to make a takeover offer for the remainder of Commerzbank's shares if its stake reaches 30 percent.
Reducing the number of employees at the bank would be a way "of making the bank more profitable and thus boosting the share price, making an acquisition more difficult", a source close to the lender told AFP.
Commerzbank shares were up three percent on Monday, making it the top performer on Germany's blue-chip DAX index.
Commerzbank CEO Bettina Orlopp in December refused to rule out redundancies in an interview with the Sueddeutsche Zeitung newspaper, saying that reducing costs was "a constant challenge for any business -- whether or not there is a merger."
Investors and the public would receive an "update of the bank's strategy, which is currently in preparation" on February 13, a Commerzbank spokeswoman said.
Since 2021, Commerzbank has already cut thousands of jobs, bringing its headcount down to some 42,000 and closing hundreds of branches in a major restructuring effort.
P.Schmidt--CPN