European Press Roundup: Airbus, Paris Test the Ground on Flying Taxis

In Europe today, Ryanair Holdings PLC, Europe's biggest budget airline, warned profit would be dented by the grounding of Boeing 737 MAX jets and Swiss voters approved a government plan to eliminate certain tax breaks for multinational companies. Read about the above topics on Dow Jones Newswires or WSJ.com.

In Other Media...

Paris state-owned public transport operator RATP and Airbus signed a memorandum of understanding to explore the viability of flying taxis. -La Tribune

Mike Ashley's Sports Direct is in talks with landlords and other third parties about a potential legal challenge to the restructuring of UK retail chain Debenhams, which wiped out shareholders. Creditors have until June 6 to challenge agreements which will allow Debenhams to close at least 22 stores and slash rents on dozens more. -The Guardian

Germany is preparing legislation this week to improve its standing as a hub for research and development by making EUR1.25 billion in subsidies available to state and federal governments annually. -FAZ

Proposals by the opposition Labour party for British companies to hold 10% of their shares in trust for their employees would have raised about GBP7 billion for the U.K. government in 2018, according to an analysis by the Times of London. Staff would have shared GBP2.3 billion but the state would benefit from a transfer of dividend payments. -Times of London

Former British Prime Minister Gordon Brown calls for a probe into the Brexit Party's funding over concerns that its no-questions-asked funding model could lead to foreign interference in U.K. elections. -Guardian

Banco Montepio's 50 biggest debtors are responsible for EUR700 million in nonperforming loans, while just 10 customers account for 40% of the total. Around EUR290 million of these debts has already been written off but the bank continues to hold more than EUR400 million of the toxic loans on its balance sheet. -Publico

Elmar Degenhart, CEO of German automotive supplier Continental, isn't convinced that it will be possible to develop an attractive business model from battery-cell production for electric cars in Germany. "For cost reasons, there is no understandable reason for me to invest in Germany," he said. From his perspective, production in Germany would have a major competitive disadvantage because of high energy costs. -Tagesspiegel

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(END) Dow Jones Newswires

May 20, 2019 07:33 ET (11:33 GMT)

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