Chief Company News Correspondent
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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.

Feb 23, 2012

Allianz holds dividend in face of profits slide

FRANKFURT, Feb 23 (Reuters) – German insurer Allianz’s
dividend payment ratio leapt to 81 percent of net
profit in 2011 as it held the shareholder payout steady while
net profit almost halved.

Catastrophe claims and writedowns on investments in
sovereign bonds and banks were behind the profit fall revealed
by Europe’s biggest insurance group on Thursday. At 2.55 billion
euros ($3.38 billion) it also missed consensus by almost half a
billion euros.

Feb 23, 2012

Allianz holds dividend in face of profits slide

FRANKFURT, Feb 23 (Reuters) – German insurer Allianz’s
dividend payment ratio leapt to 81 percent of net
profit in 2011 as it held the shareholder payout steady while
net profit almost halved.

Catastrophe claims and writedowns on investments in
sovereign bonds and banks were behind the profit fall revealed
by Europe’s biggest insurance group on Thursday. At 2.55 billion
euros ($3.38 billion) it also missed consensus by almost half a
billion euros.

Feb 23, 2012

Allianz keeps div flat after Greece hits FY profit

FRANKFURT, Feb 23 (Reuters) – German insurer Allianz’s
dividend payment ratio leapt to 81 percent of net
profit in 2011 as it held the shareholder payout steady while
net profit almost halved.

Catastrophe claims and writedowns on investments in
sovereign bonds and banks were behind the profit fall revealed
by Europe’s biggest insurance group on Thursday. At 2.55 billion
euros ($3.38 billion) it also missed consensus by almost half a
billion euros.