Siemens has agreed with labour representatives to cut 1,700 jobs in Germany, fewer than originally planned, as part of a restructuring of its Process Industries and Drives unit, which has been hit by weak demand from the oil and gas sector. Source Reuters
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Airbus SE said it will almost halve production of its slow-selling A380 superjumbo, casting further doubt over the program’s future, while warning that engine glitches are still weighing on deliveries of the single-aisle A320 that’s due to become its largest-volume model. Source Bloomberg
Ankara’s purchase of the S-400 missile defense systems from Russia should not be worrying President Recep Tayyip Erdoğan said, as he announced the deal with Russia has been signed Source Daily Sabah
Media reports claiming that Turkey would buy Russian S-400 air defense systems were not true, U.S. Marine Corps Gen. Joseph Dunford said at a security forum in Aspen, Colorado on July 23. Source Hurriyet Daily