ING, the largest Dutch-based financial services company, is planning to announce a restructuring that will lead to thousands of job losses, Dutch newspaper Het Financieele Dagblad said on Friday. The company plans to change its country-based structure in favor of single technology and risk management platforms. 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
The news of former Georgian president Mikheil Saakashvili being stripped of his Ukrainian citizenship felt so sudden and out of nowhere. One thing is sure: Ukrainian President Petro Poroshenko’s team didn’t take a summer break, it is already working hard on getting ready for the 2019 presidential elections. Source BNE
Hungary has issued yuan-denominated “panda” bonds, targeted at the domestic Chinese market, for the value of RMB 1 bln with three-year maturity and a 4.85% coupon, the Government Debt Management Agency (ÁKK) said today, Hungarian news agency MTI reported. Source Budapest Business Journal