Cities are growing worldwide and traffic as we know it will only get worse. Airbus Group’s urban air mobility division predicts that by 2030, 60% of the population will live in cities, up from 50% today. The company hopes to have a working prototype of a self-driving flying car by the year's end, CEO Tom Enders said at the DLD conference in Munich on Monday, reports Reuters.
China's President, Xi Jinping, says that economic globalization has powered worldwide growth and should not be blamed for the world's problems. In an attack on the anti-globalization rhetoric, Xi told a packed audience at the World Economic Forum at Davos on Tuesday: "It is true that economic globalization created new problems but this is no justification to write off economic globalization altogether", and he added that “Pursing protectionism is just like locking oneself in a dark room". He stressed the challenges as well of the benefits of economic globalisation and that the process needed to be made more “invigorated, inclusive and sustainable”.
British Prime Minister Theresa May is expected to say on Tuesday that she favours a clean break from the European Union, dismissing a "half-in, half-out" Brexit deal with Brussels. In a highly anticipated speech, May is likely to give further signals that Britain is heading to what analysts call a "hard" Brexit. It is thought the Prime Minister is ready to take Britain out of the European single market and customs union, though it remained unclear whether she will give a definitive answer on the question.
The Geberit Group reported that its net sales increased by 8.3% to 2.81 billion Swiss francs in the 2016 financial year. Adjusted for currency effects and in organic terms, net sales rose by 6.4%. Due to synergies from the integration of the Sanitec business, volume growth and lower prices for raw materials, management expects an adjusted operating cashflow margin (EBITDA margin) of around 28.5 percent for the year as a whole - a figure that is significantly up on the previous year.
Switzerland placed first overall in international university Insead’s 2017 Global Talent Competitive Index (GTCI); the annual study, released by international graduate university Insead on Monday, measures a nation's competitiveness based on the quality of talent that it can produce, attract and retain. This year's report explores the effects of technological change on talent competitiveness, arguing that while jobs at all levels continue to be replaced by machines, technology is also creating new opportunities.
Italy's Luxottica and France's Essilor on Monday announced they have agreed on a 50-billion-euro merger deal to create an eyewear giant with over 140,000 employees and sales in some 150 countries. The deal, one of Europe's largest cross-border tie-ups, brings together Luxottica, the world's top spectacles maker with brands such as Oakley and Ray-Ban, with Essilor, the world's leading manufacturer of ophthalmic lenses. By merging, the companies would have jointly reported net earnings of over 15 billion euros, based on 2015 annual results posted by the two companies, and a net combined operating profit EBITDA of about 3.5 billion euros.
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