euro

The German chemicals manufacturer said Thursday that it plans to cut more than 1,500 jobs, largely domestically, as part of a drive to save 300 million euros a year.

This positions the group to capture greater share in this market, which could reach 110 billion euros by 2040.

The federation condemned "numerous budget cuts and low investment, despite millions of euros in public subsidies".

In response, Berlin has eased its debt brake, allowing it to pour 500 billion euros, equivalent to around $580 billion, into a decadelong rearmament program.

The Louvre will also renovate other areas of the museum and add new amenities like toilets and restaurants - upgrades which are projected to cost several hundred million euros.