payments

France shows determination to address its €15 billion absenteeism crisis by postponing sick payments and reducing public sector benefits.

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France shows determination to address its €15 billion absenteeism crisis by postponing sick payments and reducing public sector benefits.

France is facing a growing deficit, leading to significant tax increases and aggressive cost-cutting measures announced recently. Among the various steps taken by the French government is a crackdown on absenteeism in civil services, a problem that is costing the economy €15 billion. Addressing absenteeism could result in savings of around €1.2 billion as part … Read more

Reaction Engines assures employees regarding salary payments during discussions about company rescue | Financial Updates

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Reaction Engines assures employees regarding salary payments during discussions about company rescue | Financial Updates

Reaction Engines, the British hypersonic aviation pioneer, has moved to reassure employees that they will be paid this month as talks aimed at rescuing the company continue. Sky News understands that staff at Reaction Engines were told this week that it would meet its payroll obligations for October amid growing doubts about its survival. The … Read more

HSBC Hong Kong partners with China in new global payments network alternative to Swift

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HSBC Hong Kong partners with China in new global payments network alternative to Swift

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. HSBC Hong Kong has recently become a direct participant in China’s international payments system, marking a significant step for the world’s largest player in trade finance. This move gives HSBC a key role in Beijing’s … Read more