European Press Roundup: Commerzbank Revamps Its Bonus System, France Investigates a Ham Cartel
October 19 2018 - 8:41AM
Dow Jones News
In Europe today, Italy's clash with the EU over its budget drags
down stocks, while U.K. government borrowing hits an 11-year low.
The top business story: Michelin's profit warning impacts tire
manufacturers. Read about the above topics on Dow Jones Newswires
or WSJ.com.
In Other Media...
Commerzbank is set to introduce a new compensation system for
its roughly 20,000 non-pay-scale employees including managers next
year. The new system would do away with individual bonuses for most
employees, making these payments instead contingent on factors like
the bank's performance and the achievements of an employee's
division.
-Handelsblatt
French antitrust authorities have opened an investigation into
an alleged "ham cartel" in which roughly 15 producers colluded to
fix the price of ham in France. The investigation could target
Fleury Michon, Nestle and other big players in the sector. -Les
Echos
The U.K.'s Environment Agency is investigating the plastics
recycling industry over alleged abuse and fraud of the export
system. The EA has set up a team of investigators to deal with
complaints. Six plastic-waste exporters have already had their
licenses suspended or canceled over the last three months. -The
Guardian
Microsoft wants to help digitize Thyssenkrupp's elevator
business with an eye to forming a long-term partnership with the
Essen-based industrial firm. Thyssenkrupp employees will begin
using Microsoft's HoloLens smart glasses to take measurements for
elevators at customer sites across Europe, shortening the ordering
process for new elevators to 14 days from up to 70 days previously.
-Westdeutsche Allgemeine Zeitung
The leader of the Spanish political party Podemos paid a visit
to the head of the ERC Catalan separatist party in prison to seek
support for the 2019 budget. The ruling socialist party and Podemos
agreed on a preliminary budget but need the support of Catalan
nationalists to pass it. ERC head Oriol Junqueras remains in
custody awaiting trial on charges of rebellion, following
Catalonia's declaration of independence last October. -La
Vanguardia
The U.K. should bring forward its proposed ban on new cars with
gasoline or diesel engines by eight years to 2032, according to a
parliamentary committee. The business select committee said the
government's existing plans for all new cars to be "zero emissions"
by 2040 were unambitious. -BBC
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(END) Dow Jones Newswires
October 19, 2018 08:26 ET (12:26 GMT)
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