After 26% profit fall, EasyJet relaunches package holiday business

Budget airline EasyJet will aim its relaunched package holiday business at the gap left by the demise of Thomas Cook. Of the 20 million annual EasyJet customers flying to Europe, only 500,000 book accommodation. EasyJet recently spent $46.6 million on buying Thomas Cook's slots at Gatwick and Bristol airports, allowing it to provide more flights. 

Announcing a 26 percent fall in pre-tax profits for the year to 30 September - in line with expectations - chief executive Johan Lundgren also revealed EasyJet's plans to become the world's first major net-zero carbon airline, with a $32 million offsetting plan. The carrier has also exercised the purchase rights on 12 more Airbus A320neo planes. 

Tata Steel to cut 3,000 European jobs

Tata Steel is to shed around 3,000 jobs in Europe, with more than half of them in the Netherlands. The company blamed tough market conditions, exacerbated by a European anti-trust decision in May to block a proposed merger with German rival Thyssenkrupp. Tata insisted there would be no plant closures, saying two-thirds of the job losses will be office-based.

Read more: "Too often British Steel was seen as an asset-stripping target, this time it's different"

European car sales up 8.6% to 10-year peak

Passenger car registrations in Europe shot up 8.6 percent in October to their highest level since 2009. The European auto industry association ACEA said that registrations rose to 1.214 million cars across the EU and European Free Trade Agreement countries, boosted by strong demand in Germany and France. In particular, Volkswagen rebounded from recent problems to post a 29 percent rise. 

AO World to close in Netherlands

Online household retailer AO World is to close its operations in the Netherlands, but says business is good in the UK. A review of its European division led the white-goods vendor - founded in Bolton, UK in 2000 as the result of a one-pound bet - to close its Dutch operations, in order to concentrate on its German business. It comes after underlying European losses grew to $17.6 million for the six months to September. However, UK like-for-like sales rose 4.5 percent to boost underlying UK earnings to $10 million.