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May 14, 2015

Bomb threat cuts short German TV model show

FRANKFURT (Reuters) – A bomb threat and an unattended suitcase prompted German broadcaster ProSieben to stop the finale of model competition show Germany’s Next Topmodel and evacuate thousands of people from the event’s venue on Thursday.

“We’re sorry. We’ll no longer be broadcasting today,” ProSieben said on its Twitter account.

Apr 30, 2015

BASF says low oil price to stymie earnings growth

FRANKFURT, April 30 (Reuters) – Germany’s BASF
expects a slide in earnings at its Wintershall oil and gas unit
brought on by lower oil prices to cancel out gains at its basic
petrochemicals and crop protection businesses this year.

Crude oil prices have recovered from a six-year low reached
earlier this year, but average prices over the first quarter
were more than 45 percent below year-earlier levels.

Apr 26, 2015

Newsmaker – Ruthless VW patriarch Piech overplays last hand

FRANKFURT (Reuters) – Ferdinand Piech’s iron-fisted rule over Volkswagen helped him build an empire spanning fuel-efficient city cars to 40-tonne trucks, but in the end he overplayed his hand and was forced out before reaching his goal of making VW the world’s biggest carmaker.

A grandson of Ferdinand Porsche, the founder of the sports-car maker who developed the Beetle under a 1934 contract with the Nazis, Piech devoted his life and a 51-year career in the auto industry to making Volkswagen No. 1.

Apr 25, 2015

Ruthless Volkswagen patriarch Piech overplays last hand

FRANKFURT (Reuters) – Ferdinand Piech’s iron-fisted rule over Volkswagen (VOWG_p.DE: Quote, Profile, Research) helped him build an empire spanning fuel-efficient city cars to 40-tonne trucks, but in the end he overplayed his hand and was forced out before reaching his goal of making VW the world’s biggest carmaker.

A grandson of Ferdinand Porsche, the founder of the sports-car maker who developed the Beetle under a 1934 contract with the Nazis, Piech devoted his life and a 51-year career in the auto industry to making Volkswagen No. 1.

Apr 25, 2015

Ruthless VW patriarch Piech overplays last hand

FRANKFURT (Reuters) – Ferdinand Piech’s iron-fisted rule over Volkswagen (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) helped him build an empire spanning fuel-efficient city cars to 40-tonne trucks, but in the end he overplayed his hand and was forced out before reaching his goal of making VW the world’s biggest carmaker.

A grandson of Ferdinand Porsche, the founder of the sports-car maker who developed the Beetle under a 1934 contract with the Nazis, Piech devoted his life and a 51-year career in the auto industry to making Volkswagen No. 1.

Apr 25, 2015

Volkswagen Chairman Piech resigns after failing to oust CEO

FRANKFURT (Reuters) – Ferdinand Piech, a towering figure at Volkswagen (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) for more than two decades, resigned as its chairman on Saturday after losing a showdown with Chief Executive Martin Winterkorn.

Piech, the 78-year-old grandson of the inventor of the Volkswagen Beetle, had previously seen off other executives who crossed him, including his hand-picked successor as Volkswagen CEO, Bernd Pischetsrieder.

Apr 25, 2015

VW Chairman Piech resigns after failing to oust CEO

FRANKFURT, April 25 (Reuters) – Ferdinand Piech, a towering
figure at Volkswagen for more than two decades,
resigned as its chairman on Saturday after losing a showdown
with Chief Executive Martin Winterkorn.

Piech, the 78-year-old grandson of the inventor of the
Volkswagen Beetle, had previously seen off other executives who
crossed him, including his hand-picked successor as Volkswagen
CEO, Bernd Pischetsrieder.

Mar 29, 2015

Germanwings crash co-pilot may have had detached retina – newspaper

BERLIN, March 29 (Reuters) – The co-pilot suspected of
crashing a passenger jet in the Alps may have been suffering
from a detached retina but investigators are unsure whether his
vision problems had physical or psychological causes, a German
newspaper said on Sunday.

Bild am Sonntag also reported how the captain of the
Germanwings Airbus had screamed “open the damn door!”
to the co-pilot as he tried to get back into the locked cockpit
before the jet crashed last Tuesday, killing all 150 on board.

Mar 20, 2015

Lufthansa long-haul routes to be hit by Saturday strike

FRANKFURT, March 20 (Reuters) – Lufthansa
cancelled almost half of its lucrative long-haul flights
scheduled for Saturday as pilots planned a fourth straight day
of walkouts in a protracted row over early retirement benefits
and cost cuts.

Lufthansa wants to cut spending to levels nearer those of
its rivals. It is squeezed by budget carriers Ryanair
and easyJet on European routes and by airlines such as
Turkish and Emirates on long-haul flights.

Mar 17, 2015

Lufthansa cancels 750 flights due to pilots’ strike

FRANKFURT/BERLIN (Reuters) – Lufthansa (LHAG.DE: Quote, Profile, Research, Stock Buzz) has canceled 750 flights or about half the total due to a strike planned by pilots for Wednesday, affecting thousands of passengers in a long-running dispute over early retirement benefits and plans to expand budget flights.

The German airline is trying to cut costs and renegotiate expensive labor agreements as it tries to compete with low-cost carriers and rivals such as Emirates and Turkish Airlines, but its efforts have been resisted by pilots who staged 10 strikes last year.