NORWEGIAN HAPPY WITH COURT PROTECTION
Norwegian Air was given additional creditor protection by a court in Norway on Tuesday on top of that granted by an Irish judge on Monday, allowing the cash-strapped airline’s restructuring efforts to continue. “A supplementary reconstruction process under Norwegian law will be to the benefit of all parties and will increase the likelihood of a successful result,” Chief Executive Jacob Schram said. SOURCE & PHOTO: Reuters
TOYOTA UK HAS DOUBLE WORRIES
The boss of Toyota’s European business has warned that a no-deal Brexit could make its UK plants uncompetitive. Dr Johan van Zyl said such an outcome would create a “very negative investment environment” in Britain and be “very, very negative” for his business. He told the BBC the combination of Brexit and the Covid crisis was a “double whammy” for the carmaker. Toyota has two plants in the UK, which employ about 3,000 people in total. SOURCE: BBC
MORE HELP FOR EUROPEAN START-UPS?
Highland Europe – the tech growth fund best known for backing high profile late-stage startups like GetYourGuide, Huel, WeTransfer, Wolt and Zwift — has closed its fourth fund, raising €700M in a comparatively short space of time compared to previous fund closes. Highland plans to ‘double-down’ on its strategy of being one of the few tech-focused growth funds honing in exclusively on tech startups, a sector of the financing world which in Europe, still to this day, is underserved. SOURCE: techcrunch.com
AT LAST, A MOVE ON SANCTIONS
European Union foreign ministers have given the final green light to establishing a system that would allow the 27-nation bloc to impose sanctions on human rights violators worldwide. The ministers sealed the agreement on a sanctions regime at talks in Brussels on December 7, saying it underlines that “the promotion and protection of human rights remain a cornerstone and priority of EU external action and reflects the EU’s determination to address serious human rights violations and abuses.” SOURCE: RFE/RL