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Mar 10, 2014

Europe’s regional airports struggle as traffic shifts to hubs

BERLIN, March 10 (Reuters) – Dozens of small European
airports, which blossomed with the advent of no-frills flying,
face cutbacks or even closure as traditional airlines become
more competitive and regulators clamp down on state aid.

After years of suffering at the hands of budget airlines
such as Ryanair and easyJet, carriers including
Lufthansa, British Airways and Air France
have cut costs and consolidated to close the price gap
on short-haul European routes.

Mar 6, 2014

Tourism industry emerges from downturn

BERLIN, March 6 (Reuters) – The outlook for the global
travel industry looks brighter for 2014 as European economic
recovery and rising consumer confidence are prompting
holidaymakers and businesses to loosen their purse strings
again.

Growth is still unevenly spread across regions, according to
comments from the industry’s biggest trade fair in Berlin this
week, with some destinations such as Egypt, China and Thailand
facing a tough time due to political turmoil, security concerns
or stricter regulations.

Mar 6, 2014

Germany’s Kloeckner sees return to profit this year

BERLIN, March 6 (Reuters) – German steel distributor
Kloeckner & Co said it was on track to return to
profit this year and pay its shareholders their first dividend
in four years as it slashes costs.

Like other companies in the sector, Kloeckner was hit by a
slump in demand for steel in Europe as government spending cuts
and tight credit conditions hurt demand for cars, buildings and
household appliances.

Mar 5, 2014

Egypt lobbies Germany to ease travel advisory: minister

BERLIN (Reuters) – Egypt is urging Germany to ease its advice against travel to the entire Sinai peninsula after security concerns following the fatal bombing of a tourist bus prompted operators to bring back holidaymakers from the Sharm el-Sheikh Red Sea resort last week.

“The latest crisis that we are in today is the negative travel advisory by the German government,” Egypt’s Tourism Minister Hisham Zaazou told Reuters in an interview at the ITB travel fair in Berlin on Wednesday.

Feb 25, 2014

Dialysis firm FMC says health spending cuts to hit profit

FRANKFURT, Feb 25 (Reuters) – Fresenius Medical Care
, which makes kidney dialysis machines, forecast a
surprise fall in net profit for this year, in part due to
healthcare spending cuts in the United States.

Shares in the German company, which operates more than a
third of dialysis treatment centres in the United States,
dropped as much as 7 percent in early Tuesday trading, after it
also posted its first decline in annual net profit in 12 years.

Feb 14, 2014

Glimmers of hope emerging from Europe’s corporate results

FRANKFURT/PARIS, Feb 14 (Reuters) – Europe’s corporate
profits are still eroding but investors are at last starting to
see glimmers of hope, with revenues picking up, domestic demand
recovering and good news from exposure to the United States
making up for bad news in emerging markets.

Recent weakness in emerging markets – which hit a number of
European multinationals such as Nestle, AB InBev
and Holcim – could delay the long-awaited
European earnings recovery, but probably won’t derail it.

Feb 14, 2014

ThyssenKrupp’s first-quarter profit buoyed by Brazilian improvement

FRANKFURT (Reuters) – ThyssenKrupp (TKAG.DE: Quote, Profile, Research, Stock Buzz) posted a better than expected quarterly operating profit on Friday, as it reined in losses at its steel mill in Brazil and also benefited from robust demand for cement and petrochemical plants.

Its net loss for the fiscal first quarter through December widened on one-off charges related to the sale of a stake in Finnish steelmaker Outokumpu OUT1H.VE, but ThyssenKrupp said it still aimed to approach break-even this year.

Feb 14, 2014

ThyssenKrupp’s Q1 profit buoyed by Brazilian improvement

FRANKFURT, Feb 14 (Reuters) – German industrial group
ThyssenKrupp posted a better than expected quarterly
operating profit on Friday, as it reined in losses at its steel
mill in Brazil.

Adjusted earnings before interest and tax (EBIT) for
ThyssenKrupp’s fiscal first quarter through December more than
doubled to 247 million euros ($337.6 million), beating the
average forecast of 213 million euros given in a Reuters poll of
analysts.

Feb 7, 2014

Lufthansa picks Spohr as boss to lead battle on budget carriers

FRANKFURT (Reuters) – Germany’s Lufthansa (LHAG.DE: Quote, Profile, Research, Stock Buzz) has picked Carsten Spohr as its new chief executive, naming a company veteran to lead the battle against low-cost carriers and fast-growing Gulf airlines.

Germany’s largest airline has been looking for a new boss since September, when it was announced current CEO Christoph Franz would leave at the end of May to become chairman at Swiss pharmaceuticals company Roche (ROG.VX: Quote, Profile, Research, Stock Buzz).

Feb 6, 2014

Eurex rejects calls to void DAX futures trade after halt

FRANKFURT (Reuters) – Europe’s leading derivatives exchange rejected requests to void trades made during an abnormal plunge in German equity futures shortly after the European Central Bank announced its latest rate decision.

Trade in the front-month March futures contract on the blue-chip DAX index .GDAXI was halted after it fell 2 percent in the space of a minute, a move that some in the market attributed to human error, known as a “fat finger”.