RWE eyes bigger cost reductions

Germany’s RWE is expected to cut more jobs than planned, squeeze more costs and sell more assets when it reports earnings this week due to weaker prospects in electricity generation as the country shifts toward renewable energy. RWE is set to slash a further 3,400 jobs and increase the scope of its savings programme, dubbed Neo, to €800m (£669m), up from at least half a billion, a source familiar with the matter said.