Daimler has said it plans to cut thousands of jobs worldwide by the end of 2022.

The German carmaker said it plans not to fill some vacant posts and to offer severance packages in Germany to reduce administrative jobs.

The company had said on November 14 that it plans to slash costs by €1.4 billion (£1.19 billion) by cutting every tenth managerial position and through other measures, but did not give details.

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A statement on Friday said Daimler had agreed with its employee council on principles to slim down the company structure and the two sides will work further on implementation details over the coming weeks.

The Mercedes-Benz owner said it aims to cut "thousands" of jobs worldwide over three years but did not offer a precise figure.

Student accommodation firm Unite Group has completed its £1.4 billion acquisition of rival Liberty Living.

The company told investors on Friday that the deal will be "transformational" and will reinforce its position as a leading UK accommodation firm.

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Unite had approximately 130 student properties across 22 university towns in the UK prior to the deal.

Earlier this month, the Competition and Markets Authority approved the move after receiving comment from interested parties about whether the deal would reduce competition.

Richard Smith, chief executive officer of Unite, said: "This deal brings together two complementary businesses who share a commitment to providing high quality, affordable student accommodation with a focus on service and welfare".

Shares in Unite were up 0.3% to 1,251p.

Estate agent Countrywide has secured the £38 million sale of its commercial arm as it battles to cut its debt burden.

The company told investors that it has agreed the sale of its Lambert Smith Hampton arm to Monaco-based property developer John Bengt Moeller.

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It said it will use funds from the sale to cut its debt pile by £34.4 million. At the end of June, its net debt was reported as £90 million.

The estate agency, which runs brands such as Hampton International and Bairstow Eves, has said the deal will bring its borrowing to a sustainable level, following a major share placing last year.

Executive chairman Peter Long said: "The sale of the Lambert Smith Hampton commercial business strengthens the group.

"Once completed, we believe that the group will be in a more advantageous position in our core residential market.

"The group remains on course to deliver a full-year result in line with the board's expectations."