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British postal carrier Royal Mail is axing 700 managers at a cost of £70m, the company said on Tuesday as it lowered its annual profit outlook after the omicron Covid variant hit Christmas deliveries.
European shares were back in the green on Tuesday at the open on the back of a firmer Wall Street and despite increased tensions over Ukraine.
Rio Tinto has resolved its long-running dispute with the Mongolian government over the $6. 93bn expansion project for the company’s Oyu Tolgoi copper-gold mining project.
Motor engineering firm TI Fluid Systems said it expected to post annual revenue of €2. 95bn in a “robust performance” despite chip supply shortages.