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IONOS is cutting jobs while expanding AI-led internal transformation plans. The German cloud group expects to reduce its workforce by around 450 roles and generate annual savings of up to €30m from 2027.
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Accel-KKR has agreed a £208m takeover of construction-software group Eleco. The 235p-a-share offer carries a 74.7% premium and would take the AIM-listed software business private as investment requirements across SaaS, cloud, and AI increase.
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The ECB has raised rates as energy inflation intensifies again. Euro-area borrowing costs will increase by 25 basis points as policymakers respond to higher energy prices while retaining a meeting-by-meeting approach to future decisions.
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Inditex sales grew strongly, but quarterly profitability fell below expectations. Higher transport and input costs are squeezing margins while Zara’s parent continues investing in stores, logistics, and European expansion.
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A £210m fund will back South East growth businesses regionally. The British Business Bank programme offers loans from £25,000 to £2m and equity investments of up to £5m.
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HSBC will wind down German transaction services operations by 2028. More than 300 jobs are expected to disappear as the bank concentrates investment on areas where it sees stronger competitive advantages.
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SThree has received a preliminary takeover approach from Circle8 Group. The possible offer remains highly conditional, with Circle8 facing a 7 October Takeover Code deadline.
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Brussels proposes common rules for local short-term rental restrictions today. The framework would tie housing controls to measurable local stress and require interventions to be justified and proportionate.
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France plans to reduce its exceptional corporate surcharge in 2027. The government is also promising no new business taxes and preparing measures to make employee buyouts easier.
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EU auditors warn Russian energy exit investment remains insufficient today. The assessment raises questions over infrastructure spending, gas security, and the resilience of Europe’s post-Russian energy system.
