European Press Roundup: Telefonica, Atresmedia to Take on Netflix; BMW Plans Job Cuts

Date : 09/20/2019 @ 1:42PM
Source : Dow Jones News
Stock : Bayerische Motoren Werke AG (BMW)
Quote : 44.865  0.48 (1.08%) @ 4:35PM
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European Press Roundup: Telefonica, Atresmedia to Take on Netflix; BMW Plans Job Cuts

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In Europe today, travel company Thomas Cook seeks a standby loan of 200 million pounds, while RBS names Alison Rose as chief executive officer. Read about the above topics on Dow Jones Newswires or


In Other Media...


Telecommunications company Telefonica and media group Grupo Atresmedia are in advanced talks to form an audiovisual alliance to compete with Netflix and HBO. The parties would share investment in the production of TV series and movies to feed their paid platforms. -El Confidencial


BMW allegedly plans to cut up to 6,000 jobs by 2022, many of them at the company's headquarters in Munich. -Manager Magazin


Some of the major investors in UBI Banca have signed a shareholder pact covering 16.7% of the bank's capital. The pact, which will improve cooperation among the members, may grow, including other investors. -Il Sole 24 Ore


Giovanni Castellucci, who stepped down from his post as chief of Atlantia this week in the wake of the Genoa bridge disaster fallout, could leave with a package worth over EUR30 million plus around EUR7 million worth of shares in the company, which operated the bridge through its subsidiary Autostrade per l'Italia. -FT


Greece could achieve growth rates in excess of 3% after 2020 under certain preconditions, Bank of Greece Governor Yannis Stournaras says. He forecasts this year's growth rate will stand at 1.9%, and that it will surpass 2% in 2020. -Kathimerini


Credit-card spending has overtaken cash for the first time in the U.K., while debit cards are the most popular method of payment, data from the British Retail Consortium show. Overall, cards--both credit and debit--account for nearly 80% of retail sales, the BRC says. -Guardian


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(END) Dow Jones Newswires

September 20, 2019 08:27 ET (12:27 GMT)

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