Germany vows to end coal use by 2038, Tesco ‘could axe 15,000 jobs’, and more top news

The news professionals in Europe are talking about now, curated by LinkedIn’s editors. Join the conversation on today's stories in the comments.

The German government has announced it will stop using coal to generate power by 2038. The decision will have major ramifications for the energy industry in a country where coal generates nearly 40% of the power. Chancellor Angela Merkel says that as the country phases out its use of coal, it will need more natural gas and will seek to increase the country’s share of renewable energy to 65% by 2030 from 38% today. ? Here’s what people are saying.

Tesco is set to slash 15,000 jobs as it closes its meat, fish and deli counters, reports The Mail on Sunday, citing industry sources. It’s the latest round of cuts for the UK supermarket giant, which has shed more than 10,000 jobs since CEO Dave Lewis took over in 2014. The move comes as competition between supermarkets heats up — despite record low margins, Morrisons, Tesco and Sainsbury all announced a range of price cuts this month. ? Here’s what people are saying.

The Man Booker Prize is looking for a new sponsor after losing the financial backing of the Man Group. The hedge fund firm says it’s ending its 18-year relationship with the famous literary award, with this year’s ￡1.6 million annual sponsorship to be its last. The Man Booker Prize faced criticism in 2014 when it opened up eligibility to any author writing in English and published in the UK. ? Here’s what people are saying.

Say goodbye to the €500 note — unless you’re in Germany or Austria. Seventeen out of 19 eurozone countries officially ceased distribution of the banknotes yesterday, but German and Austrian central banks have delayed the move until April to ensure a “smooth transition” in the cash-loving countries. The ECB ended production of €500 notes in 2016 amid concern they facilitate money-laundering and other illegal activities. ? Here’s what people are saying.

Requiring companies to report on gender pay disparity has the power to shrink those gaps, according to a recent study. Researchers examined two groups of Danish companies and found that salary gaps declined by 7% over five years at firms that were required to report on their disparities — and remained unchanged at the other companies. The firms with transparency requirements also saw an increase in the number of women hired and promoted. ? Here’s what people are saying.

Idea of the Day: Organisations and those who lead them must abandon the all-too-familiar “not in my backyard” rhetoric, says Ketchum partner, CEO and president, Barri Rafferty.

“There should be no gap between what you say your values are and what you let happen in your corridors.”

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— Capucine Yeomans