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Apr 3, 2014

Europe launches satellite to monitor environment, disasters

DARMSTADT, Germany (Reuters) – Europe on Thursday launched the first satellite of its multibillion-euro Copernicus Earth observation project that will supply valuable images in the event of natural disasters or even a plane crash.

The Sentinel-1a satellite, which blasted off into Earth’s orbit from Europe’s spaceport in French Guiana at 5.02 p.m. ET, will be used to monitor sea ice, oil spills and land use and to respond to emergencies such as floods and earthquakes.

Apr 3, 2014

LED makers get smart to rise above price war and growth cliff

FRANKFURT, April 3 (Reuters) – Lighting companies like
Philips and Osram are scrambling to develop
more advanced technology as a price war for LED bulbs threatens
to eat into profits and bring on a period of low growth as the
long-life bulbs become more common.

The market for light-emitting diodes (LEDs) is growing
rapidly as companies, hotels and shops switch from incandescent
light bulbs, which are being banned in countries around the
world, to these more efficient and durable lights.

Mar 29, 2014

German execs criticize West for allowing tension with Russia to rise

FRANKFURT (Reuters) – Several top German executives criticized the strategy of the U.S. and Europe in dealing with Russia after it took control of the Crimea region, fearing the consequences for their businesses.

The European Union, United States and other Western nations have imposed sanctions on Russia in response to its seizure of the Crimea region of Ukraine and have threatened broader economic penalties if the crisis escalates, triggering the worst East-West clash since the Cold War.

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.