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H&M to cut 1,500 jobs worldwide
H&M to cut 1,500 jobs worldwide

Swedish fashion retailer H&M said Wednesday it would cut some 1,500 jobs worldwide as a result of a cost-cutting programme launched following its decision to leave the Russian market. "The programme relates to administrative and overhead costs, and also entails reducing the workforce by around 1,500 positions," the company said in a statement.

Losses deepen at crisis-hit SAS airline
Losses deepen at crisis-hit SAS airline

Troubled Scandinavian airline SAS, which has filed for bankruptcy in the United States, reported Wednesday deeper losses in the fourth quarter. SAS filed for Chapter 11 bankruptcy proceedings in the United States in July -- a move allowing a company to restructure its debts under court supervision.