FRANKFURT (Reuters) – German steel distributor Kloeckner & Co (KCOGn.DE: Quote, Profile, Research, Stock Buzz), seeing no near-term respite from a sector slump and massive overcapacity, extended its job-cutting plans on Wednesday.
It said it would shut down about a fifth of its sites and shed a further 500 jobs, bringing the total to 1,800 or some 16 percent of its workforce.
LONDON/FRANKFURT (Reuters) – From advertising and luxury goods to cars and heavy engineering, European industry is retrenching and abandoning its already modest growth targets, a worrying sign for investors who bought into the summer stock market rally.
The signals from third quarter results so far are that Asian, emerging market and resources sector demand is no longer making up for weakness at home.
LONDON/FRANKFURT, Nov 2 (Reuters) – From advertising and
luxury goods to cars and heavy engineering, European industry is
retrenching and abandoning its already modest growth targets, a
worrying sign for investors who bought into the summer stock
The signals from third quarter results so far are that
Asian, emerging market and resources sector demand is no longer
making up for weakness at home.
FRANKFURT, Oct 23 (Reuters) – The DAX top-30 index
looked set to open 0.1 percent higher on Tuesday, according to
premarket data from brokerage Lang & Schwarz at 0647 GMT.
The following are some of the factors that may move German
stocks on Tuesday:
Indicated 0.2 pct higher lower
The German premium carmaker said it aims to invest more than
200 million euros ($261.41 million) in a new plant in Joinville,
Brazil, in the state of Santa Catarina. Plans call for a
capacity of about 30,000 vehicles per year with production
slated to begin in 2014.
FRANKFURT (Reuters) – German engineering group Siemens (SIEGn.DE: Quote, Profile, Research, Stock Buzz) is to sell its solar energy business and is already holding talks with potential buyers, as it trims underperforming businesses to close a profitability gap with peers.
Demand for solar power has been hurt by top consumer Europe cutting back subsidies for green energy and the euro zone debt crisis crippling the finances of sunny countries such as Greece and Spain.
FRANKFURT, Oct 15 (Reuters) – The founding family of Douglas
Holding AG has teamed up with private equity to bid
for the loss-making retailer, offering a possible end to months
of uncertainty over its ownership as it battles fierce
competition from online players.
Under a deal announced on Monday valuing the German
perfume-to-books retailer at 1.5 billion euros ($2 billion), the
Kreke family gains more control over the group as it carries out
a restructuring of its under-pressure books business Thalia.
FRANKFURT (Reuters) – Germany’s Siemens may outline job cuts and office closures on Thursday to stop profits sliding as customers put off ordering engineering equipment because of Europe’s economic crisis.
Chief Executive Peter Loescher’s strategy of boosting growth with energy-saving and infrastructure products has not worked and analysts expect him to present managers with a plan of up to 4 billion euros ($5.2 billion) in savings.
BERLIN (Reuters) – Airlines battling to cut costs and pollution may not find a quick fix in biofuels, as concerns grow that using feedstocks to create an alternative to kerosene will push food prices higher.
The European Union plans to impose a limit on the use of crop-based biofuels, in a major shift in the region’s much-criticized biofuel policy, according to draft legislation seen by Reuters.
BERLIN, Sept 14 (Reuters) – A merger between EADS
and Britain’s BAE Systems could strengthen European
efforts to develop unmanned ariel drones, after competition
between the two firms allowed the United States and Israel to
dominate a growing market.
The attacks on the United States of Sept. 11, 2001 ended
official scepticism over the value of drones and Airbus maker
EADS has spent years and around 500 million euros ($645 million)
working on the Talarion drone in the hope of an order from the
project’s instigators France, Germany and Spain.
BERLIN (Reuters) – Aerospace officials of the European countries where Airbus (EAD.PA: Quote, Profile, Research, Stock Buzz) makes its planes will push for a suspension of the European Union’s Emission Trading System (ETS) for airlines to avert retaliation from China, an official said on Tuesday.
The German government official in charge of aerospace policy, Peter Hintze, said after a meeting of the so-called Airbus ministers from Britain, France, Germany and Spain that they would propose to their national governments that payments under the ETS should be delayed beyond the planned April start.