Economy: Kühne und Nagel lowers its outlook and announces massive job cuts

ela . The Swiss logistics group Kühne und Nagel reported weaker figures for the third quarter. Sales fell by seven percent to CHF 6.04 billion, and gross profit, adjusted for volatile freight rates, fell by four percent to CHF 2.11 billion. The group announced this on Thursday (October 23).

The company from Schindellegi in the canton of Schwyz is reducing its annual target and launching a cost-cutting program that envisages the elimination of 1,000 to 1,500 jobs worldwide.

Donald Trump is traveling to the World Economic Forum (WEF) in Davos. This was reported by the CH Media newspapers , citing "two independent sources," on Wednesday morning (October 22).

However, it wasn't the organizers who persuaded Trump to attend. Rather, the American president invited himself – even before the WEF organizers approached him. Trump had already attended the conference in 2018 and 2020. The next WEF edition will take place from January 19 to 23, 2026.

(dpa) Warner Brothers Discovery says it has several potential takeover buyers and is considering a sale. There are potential buyers for both the entire company and just the Warner Hollywood studio, the company announced on Tuesday (October 21). No names were disclosed. Warner Brothers Discovery also owns the news channel CNN, among others.

The group had already initiated steps to separate its traditional TV channels from its film and streaming businesses by mid-2026. While these steps are now being pursued further, it remains only one of the options.

According to several media reports, film producer David Ellison, who recently acquired rival Paramount, had also expressed interest in the Warner Brothers group. This shifted the focus to CNN's future. David Ellison's father is Larry Ellison, a billionaire co-founder of the software company Oracle and a supporter of US President Donald Trump. CNN is critical of Trump. Paramount was already acquired largely with money from Ellison Sr., and he would likely also finance the takeover of Warner Brothers.