MUNICH, Germany (Reuters) – Munich has cranked up a formidable administrative machine to meet a tidal wave of refugees, ferrying more than 15,000 exhausted human souls through its central station to shelter by Sunday evening while still keeping the trains running on time.
Bavarian officials worked flat out through Saturday and Sunday, normally a strict day of rest in the Catholic-majority state, as train after train pulled in carrying refugees, predominantly from Syria, Afghanistan and Iraq, via Austria.
MUNICH/BUDAPEST (Reuters) – Thousands of refugees and migrants streamed into Germany on Sunday, many traveling through Austria from Hungary where they had been stranded against their will for days, while European Union governments argue over how to respond.
A convoy of around 140 cars and vans filled with food and water left Vienna to collect exhausted migrants, many from Syria, who had set out to walk the 170 km (110-mile) stretch through the rain from Hungary’s capital Budapest to the Austrian border, from where many would continue onto Germany.
FRANKFURT (Reuters) – Austrian Hans Dieter Poetsch, Volkswagen AG’s (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) finance chief, faces a massive task in his future role as chairman – to maintain the support of the often divided stakeholders who have chosen to back him while improving the carmaker’s profitability.
Although Volkswagen Group has grown to become the world’s largest carmaker it has proven to be one of the most difficult companies to manage as radical reforms can be blocked by labour representatives, who hold half the seats on the supervisory board, and its home state of Lower Saxony, which controls a 20 percent stake in the company.
FRANKFURT, Aug 27 (Reuters) – The alarming scale of China’s
economic slowdown is pushing European exporters to accelerate a
move into premium goods and services, sacrificing volumes if
necessary to sustain margins.
As Chinese rivals gain expertise in areas from elevators to
healthcare to sweeteners while unexpectedly weak demand exposes
yet more unneeded supply, prices are falling even in areas
foreign suppliers thought were insulated from local competition.
FRANKFURT/MUNICH, Aug 27 (Reuters) – European broadcaster
RTL regained market share in its core German TV
business in the first half of 2015 and lifted its full-year
sales forecast on strong growth in online businesses, which it
said it would expand with further acquisitions.
RTL, controlled by German media conglomerate Bertelsmann
, has TV and radio channels in eight European countries
and southeast Asia, with shows including The X Factor, Idols and
Farmer Wants A Wife.
FRANKFURT (Reuters) – Germany’s United Internet is on the look-out for acquisitions to expand its fiber-optic network and the business applications unit that it may list separately on the stock exchange, its chief executive told Reuters on Thursday.
United Internet, Germany’s biggest DSL copper wire broadband provider after Deutsche Telekom, has spent more than a billion euros ($1.11 billion) in a year on acquisitions including a national fiber-optic network and Poland’s top web-hosting firm.
FRANKFURT, Aug 13 (Reuters) – German industrial group
ThyssenKrupp reported a jump of more than a third in
its quarterly operating profit, driven by its elevators and
European steel units and beating forecasts.
The result bore out the Essen-based company’s continuing
turnaround story from steelmaker to diversified industrial goods
group, and was helped by streamlining and cost-cutting that saw
Steel Europe produce its best result in almost four years.
FRANKFURT/BERLIN, Aug 12 (Reuters) – Germany’s United
Internet raised its forecast for 2015 customer growth,
saying it now expected more mobile Internet subscribers after
investing heavily in customer acquisition.
The Internet service provider said on Wednesday it expected
fee-based customer contracts to grow by 880,000 instead of
800,000, after a 430,000 increase to 15.2 million in the first
half. It stuck to its sales and earnings forecasts.
FRANKFURT, Aug 12 (Reuters) – The new chief executive of
Germany’s Bilfinger said he would do whatever it took
to turn the company around as problems escalated at its main
division servicing oil and gas clients and charges for a
business it is selling pushed it to a record net loss.
The engineering and services group predicted a drop of as
much as 43 percent in its full-year core earnings after an
unexpectedly sharp drop in oil prices hit its Industrial
business, compounding problems at the up-for-sale Power
FRANKFURT (Reuters) – European exporters glimpsed the possible progressive erosion of lucrative benefits from the weak euro on Tuesday, as China’s surprise devaluation made foreign goods more expensive for its consumers and corporate customers.
Shares fell in makers of cars, luxury goods and consumer products, wiping 140 billion euros ($155 billion) off the value of the FTSEurofirst 300 index, as the specter loomed of a new round of currency wars.