finance

Some 15,000 ground workers would see their salaries frozen, and would lose one of their paid days off per year, according to a new proposal submitted by the the management of Dutch airline KLM to union representatives. The company would also like to replace some 3,000 baggage handlers and ground crews with temporary employees, the union CNV Vakmensen told newspaper De Telegraaf.

A plan submitted by British retail firm JD Sports Fashion Plc to take over beleaguered Dutch stores Perry Sport and Aktiesport won approval by the administrator in the Netherlands handling the bankruptcy of their parent firm, Unlimited Sports Group (USG). Most stores will remain open under terms of the deal, and most of the employees will retain their jobs, the administrator announced on Wednesday.

A federal court in New York sentenced two former Rabobank employees to prison for their roles in manipulating the Libor, an estimated interest rate that serves as a benchmark for financial lenders around the world. The Dutch banks’s former finance executive, Anthony Allen, was handed a two-year prison sentence, with trader Anthony Conti being sent to prison for a year.

Shareholders at Dutch-British oil and gas firm Royal Dutch Shell approved the 47 billion dollar (43 billion euro) of the United Kingdom gas company BG Group. Roughly 83 percent of shareholders gave their blessing to the deal during a meeting in Den Haag, Shell said in a statement on Wednesday.

Roughly 4,200 new refugees were registered in the Netherlands last week, according to figures released by the Minister of Security and Justice, Klaas Dijkhoff, following a meeting with cabinet members. This influx of refugees could be attributed to the refusal of Eastern European countries to participate in the mandatory redistribution of refugees in Europe as well as Minister Dijkhoffs’ decision not to re-introduce border controls.

Sources close to the secret cabinet negotiations on a package of tax reforms say that the government is planning to increase sales tax on many goods and services to generate an extra five billion euros in revenues, according to the NRC. The cabinet wants to raise the tax to balance out an effective cut in income tax for many living in the Netherlands.

Dutch economic performance is moving towards the forefront of the Eurozone, said Finance Minister Jeroen Dijsselbloem in response to positive statements from the central bank (DNB) essentially declaring an end to the economic crisis in the Netherlands. However, high levels of unemployment and outstanding household debt still remain large problems for society and the economy, the minister said in an interview with DFT.

The Dutch government has approved the sale of the nationalized bank ABN Amro, taken over by the Netherlands in October 2008 during the global economic crisis. The cabinet gave the go ahead on Friday, according to broadcaster NOS.

Income of clothing stores declined sharply between 2010 and 2013 in the Netherlands. Operating profit fell from over 500 million euros in 2010 to just 150 million in 2013, a drop of 70 percent, Statistics Netherlands revealed on Monday.

Ahold and Delhaize, one of the largest Belgian grocers, are discussing a merger, reports Belgian business daily De Tijd. The talks are still in their early stages, according to the newspaper. Neither of the two companies officially commented on the issue.

The bonus of Schiphol boss Jos Nijhuis is too high, according to Finance Minister Jeroen Dijsselbloem. The minister suggested that the bonus of the Schiphol CEO should be lowered, reports RTL Niews.