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Telegram's Durov announces new crackdown on illegal content
Telegram's Durov announces new crackdown on illegal content
by  AFP

Telegram founder and chief executive Pavel Durov said Monday that the messaging platform had removed more "problematic content", weeks after his arrest in France on charges of failing to act against criminals using the app.

Swedish battery maker Northvolt to slash 1,600 jobs, quarter of staff
Swedish battery maker Northvolt to slash 1,600 jobs, quarter of staff
by  AFP

Sweden's beleaguered electric car battery maker Northvolt said Monday it would cut a quarter of its staff in the country, as it struggles with strained finances and a slowdown in demand. The loss of 1,600 jobs in Sweden comes as electric car sales slump in Europe and the continent lags far behind China in battery production.

UniCredit ups stake in Commerzbank to 21 percent
UniCredit ups stake in Commerzbank to 21 percent
by  AFP

Italian lender UniCredit said on Monday it has increased its stake in Commerzbank to around 21 percent, fuelling speculation that it could seek a takeover of its German rival. Before UniCredit took a stake in the German lender, Berlin had announced that it was looking to sell down its 16.5-percent stake in Commerzbank, citing the bank's improved economic situation.

UK's Labour looks to be more cheerful despite gifts and welfare row
UK's Labour looks to be more cheerful despite gifts and welfare row
by  AFP

Britain's governing Labour party on Monday sought to strike a more upbeat note about the country's future but against a furious backlash from unions at proposed cuts to welfare payments and a row over top ministers receiving gifts. Motions have been proposed at the conference calling for the cut to be abandoned.

Eurozone business activity slumps after Olympics boost
Eurozone business activity slumps after Olympics boost
by  AFP

Eurozone business activity declined for the first time in seven months in September, as France lost steam after the end of the Paris Olympic Games, a key survey said Monday. The decline in business activity could add impetus to calls for the European Central Bank (ECB) to cut its key interest rate again in October.