U.S. industrial conglomerate General Electric said Tuesday that it would cut more than 1,000 jobs mainly at its gas turbine operations in eastern France, part of a wave of European layoffs as it tries to stem losses in its power generation business.

Italy's Deputy Prime Minister Matteo Salvini said Tuesday he expected Brussels to slap Rome with a three billion-euro ($3.36 billion) fine over the country's rising debt and structural deficit levels.

Prosecutors in Stuttgart said they raided German sports car maker and Volkswagen subsidiary Porsche on Tuesday on suspicion that an auditor was bribed to pass information to the company's tax advisor.

Hong Kong's second richest man Lee Shau Kee stepped down as chairman of Henderson Land Development on Tuesday, the latest of the city's golden generation of billionaires to retire as their progenies take over.

Nissan, a long-time Renault partner, has been left sidelined by a potential tie-up between the French firm and Fiat-Chrysler, just as the beleaguered Japanese firm battles to recover from the arrest of former boss Carlos Ghosn.

The prospect of a merger between French carmaker Renault and Italian-US auto giant Fiat Chrysler received a warm welcome on Monday, with analysts hailing the idea as an ideal fit for two companies who must keep up in the highly competitive industry.

U.S. stock market operator Nasdaq said Monday it was withdrawing its offer of nearly 700 million euros ($784 million) to acquire the Oslo Stock Exchange, clearing the way for its European competitor Euronext.

European markets pushed higher Monday, relieved that centrists remain in control in the European parliament following a bloc-wide election, while the chance of a big merger in the auto industry also sparked confidence.

A positive statement on US-China trade talks from President Donald Trump added to the positive vibe, dealers said.

Asad Ahmed, one of about 1.2 million young Indians entering the cutthroat job market each month, diligently scribbles notes at a computer class in New Delhi.

Campione d'Italia, a tiny Italian enclave on the shores of Switzerland's Lake Lugano, is fighting for its survival after its main source of income -- a giant casino -- went bankrupt.