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European Edition
21st October 2026
 
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THE HOT STORY

Union slams NatWest plans to get workers back to the office

The Unite union is pushing back after UK banking group NatWest told more than 30,000 remote and hybrid workers they would have to work from the office at least twice a week from February. "This is yet another kick in the teeth for workers who have suffered years of real-terms pay cuts and who are struggling to make ends meet," Unite general secretary, Sharon Graham, said. "NatWest’s decision is completely out of touch with the realities facing its workforce," she added, pointing out that thousands of staff would face higher travel and childcare costs as a result. A NatWest spokesperson said: "Flexible working remains an important part of how we work but we’ve also learned more about the value that spending time together brings for our colleagues and customers – helping teams collaborate, share ideas, build relationships and learn from one another."
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WORKFORCE

German industry has lost nearly 500,000 jobs since 2019, Ifo says

Since 2019, German industry has lost approximately 496,000 jobs, a decline of 7.1%, according to the Ifo Institute. The automotive sector has been particularly affected, with 123,500 job cuts, while metal and machinery sectors have also seen significant reductions. In contrast, the service sector added over 2.2 million jobs, primarily in health and social services. Joachim Ragnitz, managing director at Ifo, said the development was indicative of an "accelerated structural shift" in Germany. "Ironically, the very sectors that have sustained our prosperity up to now are shrinking," he said. "The new jobs are for the most part not being created where Germany is especially productive and innovative. That may slow down our growth potential in the future."

North Korean workers treated as 'slaves' at Russian drone factory

According to a report by the Center for Strategic and International Studies and the George W. Bush Institute, around 12,000 North Korean workers at a Russian drone factory in Tatarstan are being subjected to severe human rights abuses and trafficking. The report looks at how Russia, North Korea, China and Iran are involved in expanding unmanned aerial vehicle (UAV) production at the Yelabuga facility, and what each country stands to gain. It highlights that North Korea retains up to 90% of the workers' wages, effectively enslaving its citizens for profit. Song Young-Chae, a human rights activist, said: "Life in North Korea is not easy, but these people are being sent to Russia as slaves." The report calls for international action to address the abuses and disrupt trafficking networks.

Metro workers begin two-day strike in Portugal

Workers at Metro Transportes do Sul are striking for higher wages and improved working conditions. The National Union of Train Drivers of the Portuguese Railways announced a "total strike" on Tuesday and Wednesday, followed by limited work stoppages until 27 October. The union said the strike aims to address the loss of purchasing power and ensure collective bargaining on work organisation.
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LEGAL

Uber wins bid to throw out UK mass lawsuit

Uber has won its bid to throw out claims worth about £340m ($453m) brought by thousands of London black cab drivers and two former private hire firms after a High Court judge ruled that they had left it too late to sue. The claimants said the ride-hailing giant gave Transport for London (TfL) misleading information when it first got a licence to operate in the city in 2012. Uber denied the claims. About 13,000 drivers were seeking nearly £200m in damages, and a claim on behalf of Kabbie and Iride, two private hire firms that have since closed, sought about £140m. The lawsuits were filed in 2024. Uber argued they fell outside the six-year limit for bringing such claims.
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CYBERSECURITY

Ahold Delhaize reports cybersecurity incident as online deliveries remain disrupted

Ahold Delhaize has reported a cybersecurity incident to Dutch police after detecting malicious activity in its IT infrastructure, prompting precautionary system shutdowns across its European and US operations. Online deliveries at Dutch supermarket chain Albert Heijn, which generates approximately 10% of its sales online, will not resume before Thursday, while US e-commerce services are expected to restart in the coming days. The company has previously stated there is no evidence of customer data being stolen.
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RISK

Louis Vuitton and Hermès among stores looted in French riots . . .

Louis Vuitton, Hermès, and other luxury retailers have been targeted by widespread rioting and looting across France. Stores belonging to Kenzo and Burberry have also been affected. At least 3,000 businesses have suffered damage, including approximately 20 Sephora stores and branches of JD Sports, while insured losses are estimated at between €1bn and €1.2bn, exceeding the €730m recorded during the 2023 riots. Meanwhile, Vinted has removed listings suspected of containing goods stolen during widespread riots in France and increased monitoring of suspicious adverts, warning that accounts breaching its rules could face permanent bans. The second-hand clothing marketplace, valued at €8bn following a share transaction earlier this year, has also confirmed it is working with French authorities and law enforcement to prevent the resale of looted goods.

. . . while Milan's retailers close early due to unrest

Chanel, Dior and Tiffany have been among luxury retailers taking precautionary measures in Milan following two days of violent protests, with stores closing early, boarding up windows and removing merchandise amid fears of further unrest. Retailers including Decathlon, Arc'teryx, and Vodafone have suffered looting, while Levi's and Under Armour have secured their storefronts. Italian authorities have detained 271 people following the disturbances, with the government announcing plans to deploy 500 additional troops to Milan and introduce further security measures to protect businesses and prevent renewed violence.
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ECONOMY

Global food inflation set to accelerate into 2027 amid supply disruptions and rising costs

Global food inflation is expected to accelerate and persist into 2027 as geopolitical conflicts, shipping disruptions, rising fertiliser costs and El Niño-related droughts constrain agricultural supplies. The UN Food and Agriculture Organization’s Food Price Index reached 136 points in September, its highest level since November 2022, while wheat prices have risen more than 30% this year and rice prices across key Asian exporters have increased by 10–13%. Food prices are already reaching record highs in Indonesia and India, while Egyptian bread prices have risen 25%. Economists warn that shrinking grain inventories, higher freight costs and renewed demand from major importers could drive further price increases, placing additional pressure on household budgets and food manufacturers, particularly in emerging markets.
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INTERNATIONAL

US labour market deep freeze hits college-educated workers hard

The Wall Street Journal's Lindsay Ellis reports on the deep freeze that has paralysed the US labour market in recent years. She profiles 30-year-old Salt Lake City native Jack Weis, who has been living in his parents’ basement while looking for work in what economists refer to as a low-hire, low-fire environment. He has applied to more than 2,300 jobs since he graduated from Princeton in 2024 with his Ph.D. in chemical engineering. Weis and many other job candidates who have spoken with the author have described interviews that happened in the absence of humans: applicants recorded themselves responding to questions posed digitally on a call. In a survey, more than 60% of US job seekers said they had been interviewed by such technology in the last year.

China's jobless fake work routines

Reuters reports on the many jobless Chinese who are hiding their ‌employment status from family and relatives. The Instagram-like RedNote app, X-like Weibo and Douyin, China's TikTok analogue, are host to much-viewed posts advising unemployed people on where to spend the day, how to avoid relatives' questions about ​work, and chronicling the experiences of these phantom-employees. Diana Fu, an associate professor of Chinese politics at Cornell University, says pretend-work potentially defuses collective discontent. "Pretend-workers are helping the ​Chinese government to stave off the hard choice between leaping ahead in automation and protecting job security, which is so essential to the social contract," she said.

Stellantis Canada workers vote in favour of strike mandate

Unionised workers at Stellantis have voted 97.3% in favour of strike action, if necessary, at the automaker’s Canadian facilities. A collective agreement between the company and Unifor, which represents about 9,000 unionised employees at the factories, expired last month. “Unifor members at Stellantis understand how difficult negotiations with the company have been and gave an overwhelming mandate to support their bargaining committee,” Unifor National President Lana Payne said. “Our members are united in their determination to reach a fair agreement with Stellantis that protects jobs for Canadian autoworkers.”
 
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