Nokia to cut ‘thousands’ of jobs, Topshop tycoon named in UK #MeToo scandal, 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 CEO of Nokia has warned there will be “thousands” of job losses worldwide as a result of a new cost-cutting program. Rajeev Suri says the move will generate annual cost savings of €700 million by the end of 2020. The Finnish company yesterday posted a 27% slump in third-quarter operating profit compared with this time last year. Shares remain nevertheless up 17% year-to-date thanks to investor confidence in the demand for 5G networks. ? Here’s what people are saying.

Sir Philip Green has been named as the “leading businessman” at the centre of a case dubbed the British #MeToo scandal. The Daily Telegraph was prevented from identifying the senior executive accused of sexual harassment and racial abuse after he was granted an injunction; however, the Topshop tycoon was yesterday outed under parliamentary privilege by Labour politician Peter Hain. Green says he “categorically and wholly” denies the allegations. ? Here’s what people are saying.

Facebook has been fined ￡500,000 by the UK’s privacy watchdog in the wake of the Cambridge Analytica scandal. The Information Commissioner’s Office revealed yesterday that it is upholding its July decision to penalise the social media giant for allowing third-party developers to access the information of at least 1 million UK users without consent. It’s the maximum fine the regulator was able to issue. Facebook’s global revenue last year was ￡31.5 billion. ? Here’s what people are saying.

Shell has started rolling out its network of ultra-fast electric car chargers. The points, which can add 150km to a car’s battery in just five minutes, are so powerful that no vehicle is currently capable of taking full advantage of them. The first Shell ultra-fast charging points were installed at a motorway station outside Paris, with plans to expand to 80 European locations by 2020. There are now more than 1 million electric vehicles in Europe, with Norway and Germany leading the market. ? Here’s what people are saying.

A portrait created using artificial intelligence has sold for $432,500 at Christie’s auction house in New York. "Portrait of Edmond Belamy” is the brainchild of Paris-based collective Obvious, who generated the image using an algorithm and a data set of 15,000 paintings. The AI artwork, which was originally estimated to fetch between $7,000 and $10,000, sold after just seven minutes of bidding. ? Here’s what people are saying.

Idea of the Day: A business needs to really learn who their customers are, says the entrepreneur and investor behind startup Bicycle Health, Ankit Gupta.

“What they do, what they like, dislike, their thoughts, behaviors, hopes and dreams. What makes them unique.”

— Capucine Yeomans