Chief Company News Correspondent
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Apr 24, 2012

Siemens ousts Power Transmission chief after profit hit

FRANKFURT, April 24 (Reuters) – German engineering
conglomerate Siemens AG ousted the chief of its Power
Transmission business, which has been hit with costly delays to
offshore wind projects.

Germany’s biggest company by market capitalisation said on
Tuesday Karlheinz Springer, 54, would replace Udo Niehage as the
unit’s chief executive on May 1.

Apr 17, 2012

Sky splashes out to tighten hold on German soccer

FRANKFURT (Reuters) – Sky Deutschland, part-owned by Rupert Murdoch’s News Corp, heavily outbid Deutsche Telekom to retain key rights to German league soccer on Tuesday, a costly move seen as crucial for the loss-making pay-TV group.

Competition drove the price up sharply, with the German Football League (DFL) saying media rights for the four seasons starting 2013/14 would raise an average 628 million euros ($820 million) per year, up 52 percent on the current four-year deal.

Apr 17, 2012

Sky pays up to tighten grip on German soccer

FRANKFURT (Reuters) – Sky Deutschland, part owned by Rupert Murdoch’s News Corp, has heavily outbid Deutsche Telekom to retain key rights to German league soccer, a move seen as crucial to the future of the loss-making pay-TV group.

Competition drove the price up sharply, with the German Football League (DFL) saying media rights for the four seasons starting 2013/14 would raise an average 628 million euros ($820 million) per year, up 52 percent on the current four-year deal.

Apr 17, 2012

Siemens to scrap profit goal on wind power hit-report

FRANKFURT, April 17 (Reuters) – German engineering
conglomerate Siemens is poised to scrap its full-year
net profit target due to losses related to offshore wind
projects, Financial Times Deutschland reported, citing company
sources.

The newspaper said on Tuesday Siemens would book charges at
its Power Transmission business for the financial second quarter
at about the same level as in the first quarter, when they stood
at 203 million euros ($265 million).

Apr 5, 2012

Soccer-Sky faces costly battle to retain German rights

FRANKFURT/LONDON, April 5 (Reuters) – Incumbent Sky
Deutschland is tipped to fend off a heavyweight
challenge from Deutsche Telekom and retain the main
live rights to top-flight German soccer, but the competition
will drive up the cost.

The German Football League (DFL) will discuss bids at a
meeting on April 17 when it is hoping to announce the contract
award for the four seasons from 2013-14.

Mar 9, 2012

Germans seek solace from hectic lives on spa breaks

BERLIN (Reuters) – Massages, steam baths and a rest from an increasingly busy lifestyle are drawing a growing number of Germans to spa breaks, one of the tourism sector’s fastest-growing segments.

Tour operators boast above-average growth in spa holiday bookings and see no end to demand as Germans, the world’s biggest spenders on holidays, add more short “wellness” trips close to home to their annual vacation schedule.

Mar 9, 2012

Travel groups look east for 2012 bright spots

BERLIN, March 9 (Reuters) – With a weak western
European economy, fear of political unrest in North Africa and a
cruise business hit by the Costa Concordia disaster, travel
groups are looking to eastern Europe, China and corporate travel
to brighten up 2012.

The United Nations World Tourism Organization (UNWTO)
expects global arrivals of international travellers to increase
by 3-4 percent this year, after a 4.4 percent increase to 980
million in 2011, with growth driven by emerging markets.

Mar 9, 2012

Costa Concordia could delay 2013 cruise bookings

BERLIN (Reuters) – Cruise bookings for next year could remain slow until the industry manages to dispel safety concerns after the Costa Concordia capsized off the west coast of Italy in January.

Cruise bookings tumbled after the Costa Concordia struck a rock near the Isola del Giglio and grounded on her side, killing at least 25 people and raising questions about the safety of the luxury cruise ship industry.

Mar 8, 2012

No quick revival seen for Egypt, Tunisia tourism

BERLIN, March 8 (Reuters) – Egypt and Tunisia are
unlikely to see tourism – a vital prop for their battered
economies – revive anytime soon as holidaymakers continue to
shun North African destinations a year after the “Arab Spring”
revolutions.

Bookings to the two countries collapsed last year after
popular uprisings across the Arab world toppled veteran rulers
in Tunisia, Egypt and Libya, and forced Yemen’s president to
sign away his powers.

Mar 8, 2012

Deutsche Post sees 2012 operating profit growth

BERLIN, March 8 (Reuters) – Deutsche Post DHL
sees its sales and operating profit edging up this
year, and continued growth in the coming years on the back of
robust Asian demand for express delivery and supply chain
services.

“Of course growth numbers will be smaller this year than in
the last two years, but we have no indication of a recession,”
Chief Executive Frank Appel said.