European Press Roundup: German Labor Minister Plans Tax Advantage for Employees in Trade Unions

In Europe today, Norway's Norges Bank raised its key interest rate, while retailer Next saw its profit lifted by growing online sales. Read about the above topics on Dow Jones Newswires or WSJ.com.

In Other Media...

A no-deal Brexit will slice almost 3% from Britain's economic growth over the next three years compared with just 0.6% from the rest of the EU, according to the OECD's latest health check of the global economy, warning that the U.K. would take the biggest hit if the government failed to secure an agreement with the EU. -The Guardian

German employees who organize in a trade union could receive a noticeable tax advantage in return. Federal Labor Minister Hubertus Heil will present plans on Friday that include measures intended to strengthen trade unions and collective agreements. If the program is implemented, the membership fees to trade unions will have a tax-reducing effect. -Frankfurter Allgemeine Zeitung

UniCredit may confirm Deputy Chairman Cesare Bisoni as chairman at a board meeting on Friday. Mr. Bisoni became interim chairman after the sudden death of Chairman Fabrizio Saccomanni. -Il Sole 24 Ore

Germany must lead the way in climate protection, Vice Chancellor Olaf Scholz said in an op-ed for daily Frankfurter Allgemeine Zeitung. It is "imperative that we have to rebuild the technical infrastructure of our industrial society in order to achieve our climate goals," he wrote. He named the expansion of electricity and rail networks and the refurbishment of buildings as key points. -Frankfurter Allgemeine Zeitung

Italian billionaire and founder of eyeware company Luxottica Leonardo Del Vecchio may increase its stake in Mediobanca. Mr. Del Vecchio has built a stake of almost 7% in the Italian investment bank. -La Repubblica

Samsung's Galaxy Fold and Huawei's Mate X, the two folding smartphones to be launched on the market, will not be available for sale in Belgium. The decision not to make Huawei's much-awaited folding phone available in Belgium was in large part due to the lack of 5G coverage in the country, according to Belgian daily Le Soir. -Le Soir

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(END) Dow Jones Newswires

September 19, 2019 08:41 ET (12:41 GMT)

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