Business roundup for September 2: ride-sharing giant cuts jobs, Ryanair issues a warning
Wednesday's business digest covers major developments in Latvia and around the world, from mass layoffs at a ride-sharing giant and a Ryanair warning to new energy deals and investments in Latvian companies.
International news
Wednesday's business overview highlights several international developments. Airline Ryanair has issued a warning, while one of the largest ride-sharing companies announced it will lay off a significant number of employees. A US oil company has concluded a major deal with Venezuela, while France has introduced new fees on fast-fashion products. In the financial sector, a large financial company was fined for processing transactions linked to sanctioned entities. A European Central Bank representative gave a clear signal about the upcoming decision at the September meeting. Estonia's retail sector is undergoing its largest merger to date, and furniture retailer Ikea has announced a new strategy.
Latvia's business environment
In Latvia, attention is on how residents can claim compensation over the CSDD data leak, along with an explanation of why electricity prices have risen recently. Data on the average wage in the country has also been published. Company CleanR Industry announced a 3.3 million euro investment in its development, while creditors of the indebted company BMGS have received a new proposal. The government decided to increase direct payment funding for farmers by 35 million euros. In the auto sector, SIA Skandi Motors reported a ninefold increase in profit, while Inter Cars Latvia head Kaspars Viļumsons shared insights on problematic aspects of the auto parts trade.
The roundup also touches on what individual investors can learn from professionals, as well as changes in the cinema industry.
