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Germany's ‌IG Metall union wants a commitment from Volkswagen to a landmark labour deal that was reached in December 2024. A leading representative for the union cited fears that a recent turnaround agreement could undermine the 2024 deal with widespread job losses, and members ​are to invoke a legal clause, which was part of the ​agreement, calling on management to negotiate on ⁠the matter. "Volkswagen expressly welcomes ​this," the carmaker said. "From the company's perspective, this step is necessary to ​consistently implement the measures adopted in 2024 and, at the same time, to address the additional challenges facing ‌the ⁠entire automotive industry," it said. "This uncertainty cannot continue for the workforce at our locations," observed Daniela Cavallo, Volkswagen works council chief.

 

Reuters

Revolut has confirmed a data breach involving sensitive customer information due to fraudulent requests from an unauthorised third party using a legitimate government email domain. The exposed data included identity details, contact information, and copies of identity documents. The UK-based fintech company has since blocked the fraudulent email address and notified relevant authorities.

 

Tech Crunch

Anthropic CEO Dario Amodei has called for a slowdown in AI development following warnings from industry researchers that a superintelligent AI would be a threat to humanity. In an essay, Amodei proposed inserting independent evaluators into frontier AI companies, applying common safety standards among developers and negotiating international cooperation. OpenAI's Sam Altman and Elon Musk have backed Amodei's call for a more measured approach. However, some are questioning Amodei's motives: sceptics suggest he may be trying to engineer state regulation to suppress open source competition.

 

Financial Times

CNBC

Reuters

The Guardian

The UK Cabinet Office has rejected proposals for a "kill switch" to shut down rogue artificial intelligence systems. Officials said Britain "cannot simply turn AI off," pointing to the need for companies to ensure safe product development instead. Liberal Democrat Lord Clement-Jones had suggested an amendment to the Cyber Security and Resilience Bill for emergency intervention. Experts warn AI could pose significant threats to humanity within the next decade.

 

The Independent UK

Economists at ING have warned that the Netherlands may not be able to sustain its recent economic growth, highlighting a shortage of labour, infrastructure, and investment as key challenges. Their report says increased government spending has primarily cushioned economic shocks rather than bolstered long-term stability, and infrastructure maintenance has been neglected. Meanwhile, political instability and an ageing population could further complicate future growth prospects, and a tight labour market, an aging population, and lower immigration likewise make it “hard to see where the extra labour hours will come from to produce substantial further growth.”

 

NL Times

Ukraine's economy is facing severe challenges this winter due to intensifying Russian strikes that have targeted key sectors including energy and grain exports. Prime minister Sergiy Koretsky said the situation is "the most difficult" it has been, and economy minister Oleksandr Kravchenko warned of a "very difficult" winter ahead, citing significant infrastructure destruction. Roksolana Pidlasa, the head of the budget committee in Ukraine's parliament, described a bleak outlook. "It can get worse, but it's already bad now . . . Russia specifically targets revenue-generating industries by attacking grain corridors, by attacking seaports and metallurgical plants," she said. "It is not something that you could reconstruct quickly."

 

France 24

Trades Union Congress (TUC) general secretary Paul Nowak is urging the UK government to fulfil its promise to eliminate zero-hours contracts. He says that employer organisations have been "loudly campaigning" against reform. Nowak stressed the need for greater income security for low-paid workers, who often face unpredictable hours and earnings. Ahead of the opening day of the TUC Congress in Brighton, Nowak said: “It's time for government to face down the business lobbyists and deliver its zero-hours crackdown in full. Time and time again, we hear baseless myths from the usual suspects, and too often the actual costs to workers is ignored in favour of the hypothetical costs to bad bosses . . . Good employers have nothing to fear from these new rights. This will level the playing field for them and stop the cowboys.”

 

The Standard

Staff at Radio France launched a two-day strike on Sunday in response to the appointment of Charles Sapin, deputy editor-in-chief at the far-right weekly Valeurs Actuelles. Unions argue that Sapin promotes far-right ideologies which contradict Radio France's public service values. Management defended the decision, citing the importance of pluralism ahead of the upcoming presidential election. France Inter director Celine Pigalle described pluralism as "fundamental" for a public radio station. "I believe I can trust him not to put France Inter's airwaves at risk," she said.

 

France 24

GlaxoSmithKline is to close a vaccine plant in Dresden, Germany, next year. German trade union Industriegewerkschaft Bergbau, Chemie, ​Energie (IGBCE) said the closure would put 641 jobs at risk. "With decreasing demand for traditional egg-based flu ​vaccines, meaning we have more capacity than we need, ⁠we've conducted a review of the viability of our two ​flu vaccines manufacturing sites in Dresden, Germany, and Ste-Foy, Canada," GSK ​said. "Following this, we have taken a difficult decision to consolidate operations at one site. We have selected the site in Canada, which can fully match ​anticipated future demand in a sustainable and competitive way."

 

Reuters

The UK's Financial Reporting Council (FRC) has launched an investigation into the audit and financing of State Oil, the parent company of the collapsed Prax Group. The FRC is examining an individual accountant's role in financing arrangements from February 2021 to June 2025. Additionally, KPMG's audits for the financial years ending February 2022 and 2023, along with PKF Littlejohn's audit for February 2024, are under scrutiny. The investigations follow multiple profit restatements by Prax Group, whose failure led the UK government to take control of the Lindsey Oil Refinery in North Lincolnshire. 

 

Bloomberg Law

Bloomberg Tax

Financial Times

Investigators are probing a train derailment in northwest France, which injured 44 people, one critically. A police source has indicated that sabotage is the primary line of inquiry. The train, which was carrying 186 passengers, derailed near Renault's factory in Cléon. Rouen prosecutor Sebastien Gallois confirmed that the driver tested negative for drugs and alcohol.

 

Deutsche Welle (EN)

France 24

Zurich and Allianz face potential exposure from insuring Radiant World, the troubled iron ore trader, potentially exposing trade credit insurers to yet another alleged fraud.

 

Financial Times