NATO NATIONS COOPERATE ON HELICOPTERS

France, Germany, Greece, Italy and the United Kingdom announced the launch of a multinational project on Next-Generation Rotorcraft Capabilities on 19 November 2020. The project is dedicated to the modernisation of existing rotorcraft fleets and is one of NATO’s High Visibility Projects (HVP).A significant number of medium multi role helicopter capabilities currently operated by Allies will reach the end of their life cycle in the 2035 – 2040 period and beyond, with the subsequent need for replacements. SOURCE: NATO

FIRMS PUT OFF REPAYMENTS

European firms made considerable use of facilities to put off loan payments during the first months of the Covid-19 crisis, delaying payment on nearly 900 billion euros of loans, according to the European Banking Authority. As of June, a total of 871 billion euros ($1.0 trillion) in loans were concerned by a payment moratorium, about 6 percent of the total, according to a study conducted by the EBA. SOURCE: macaubusiness.com

EUROPE BIGGER ON BAIL-OUTS THAN UK

Another €6bn (£5.4bn) for Air France-KLM. A rescue package for Monte dei Paschi, the biggest Italian lender. Round after round of government cash sprayed in the direction of German companies ranging from ThyssenKrupp to Tui to Lufthansa, and a €10bn fund to help Spanish companies. Right across Europe, governments are ramping up state aid. SOURCE: Daily Telegraph (paywall)

DANONE TO REORGANISE

French food group Danone laid out plans on Monday for becoming a more efficient organisation in a post-COVID world, including by cutting costs, trimming product ranges and reorganising its business. The world’s largest yoghurt company announced its intention ahead of an online investor meeting, the first in a series of updates covering plans announced last month. SOURCE: Reuters

FILE PHOTO: The entrance of Monte dei Paschi bank in Siena, Italy, October 27, 2017. REUTERS/Stefano Rellandini/File Photo