Major Moves: Financial Shifts in Europe's Big Players
Key developments in the Financial Times include UK's energy regulator gaining bonus-blocking powers, Deutsche Telekom contemplating a T-Mobile US merger, Lufthansa cutting flights to counter fuel costs, Shell facing a new climate lawsuit, and Revolut eyeing a $200 billion market valuation.
The Financial Times reports on significant developments in major European companies and regulatory frameworks. UK energy regulator Ofgem is set for an overhaul, which will include new authority to enforce consumer law and prevent executive bonuses.
Deutsche Telekom is exploring a merger with T-Mobile US through a new holding company, while Lufthansa plans to cancel 20,000 flights between May and October to cut fuel costs amid rising prices.
Additionally, Friends of the Earth Netherlands has filed a new lawsuit against Shell, demanding an end to new oil and gas projects. Meanwhile, British finance app Revolut is targeting a $200 billion valuation for its stock market entry.
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