European Press Roundup: Dyson to Hire Engineers, UK Car Jobs at Risk

03/01/18 09:03 AM EST

In Europe today, AB InBev posted a significant rise in its fourth-quarter net profit after booking lower costs, while Suez announced a shake-up of its management committee. Read about the above topics on Dow Jones Newswires or


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U.K. technology company Dyson is seeking 300 new engineers in its effort to build its first electric car by 2020. The vacuum-cleaner and hand-dryer manufacturer already has 400 staff working on its electric-car team, with the company planning to invest GBP2 billion in the project. -BBC


Politicians have warned that thousands of jobs in the British car industry could be lost if the country leaves the EU without a trade deal. A report by a select committee of the House of Commons said it was unrealistic to expect overseas trade to replace business with the EU in the case of a no-deal Brexit. -FT


Volkswagen's former chief executive knew in 2014 that U.S. authorities had found that emission levels in its diesel vehicles were too high, long before the car maker admitted to installing defeat devices in millions of cars, according to internal documents. In May 2014, Volkswagen's quality-control chief notified CEO Martin Winterkorn of the findings, according to the documents. -Frankfurter Allgemeine Zeitung


Spain's National Institute of Statistics said the country's GDP grew 3.1% in 2017, driven by consumption and investment. This compares with 3.3% growth in 2016 and marks the fourth consecutive year of GDP growth in the country. -Expansion


British insurer Admiral will set up a new business in Madrid to provide services for its customers in the EU after Brexit. "We've already got two businesses in Spain, so we know the country, the market and the regulator," Chief Financial Officer Geraint Jones said. -FT


Italy is proposing new cybersecurity rules for digital-service providers and operators of essential services as part of its implementation of an EU directive on network and information security. The new measures will impose fines of up to EUR150,000 on companies who fail to comply. -Il Sole 24 Ore


Vallourec, which makes industrial tubes and pipes, is closing its boiler tube finishing line at its Saint-Saulve site in the north of France, putting 164 jobs at risk. -Le Figaro


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(END) Dow Jones Newswires

March 01, 2018 09:03 ET (14:03 GMT)

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