Chief Company News Correspondent
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Jul 22, 2013

Germany’s SAP to make McDermott sole CEO from 2014

FRANKFURT, July 22 (Reuters) – German software maker SAP AG
is breaking up its dual-CEO structure and giving sole
executive power to Bill McDermott, only weeks after his after
co-CEO Jim Hagemann Snabe defended the power-sharing structure
in a newspaper interview.

Hagemann will move to SAP’s supervisory board in a rejig
which comes two months after the group announced a management
revamp to sharpen its focus on “cloud” computing, a hot area for
SAP and its rivals which allows clients to ditch costly servers
for network-based software and storage in remote data centres.

Jul 18, 2013

SAP warns China’s slowdown is hurting software sales

FRANKFURT, July 18 (Reuters) – German business software
maker SAP AG trimmed its sales outlook for this year,
warning that a slowdown in China was prompting companies across
Asia to put investments on hold.

China’s growth rate slowed to 7.5 percent in the second
quarter, the ninth quarter in the last 10 that expansion has
weakened, in a setback for companies betting on a continued boom
in the world’s second-biggest economy.

Jul 11, 2013

German retailer Praktiker files for insolvency

FRANKFURT, July 11 (Reuters) – German home-improvement chain
Praktiker filed for insolvency on Thursday after talks
with creditors failed, sending its shares into freefall and
sparking fears of heavy job losses.

Germany’s retail industry has had a rough ride during the
economic downturn as consumers in Europe’s biggest economy, who
tend to save a large part of their earnings, kept a tight rein
on spending.

Jul 8, 2013

Osram shares fall on debut as some investors bail out

FRANKFURT, July 8 (Reuters) – Shares in Osram Licht AG
fell as much as 2.4 percent on their stock market
debut on Monday, as some investors sought an exit following the
lighting company’s spin-off from engineering group Siemens AG

Having opened at 24.00 euros, giving the company a market
value of about 2.5 billion euros ($3.2 billion), shares in the
company fell to a low of 22.99 euros. At 0927 GMT, shares traded
at 23.18 euros apiece.

Jun 21, 2013

Airbus wins order battle at Paris Airshow

PARIS (Reuters) – Last-minute orders swept Airbus to victory over Boeing at a Paris Airshow marked by stormy weather and hot debate over the next generation of big jets.

European planemaker Airbus clinched deals for 90 more planes on Thursday, taking its orders and commitments at the world’s top aviation fair to 466 aircraft worth $69 billion (44.54 billion pounds) at list prices.

Jun 20, 2013

Helicopter makers woo oil sector with speed and comfort

PARIS (Reuters) – Companies like Eurocopter (EAD.PA: Quote, Profile, Research, Stock Buzz) and Sikorsky are making their helicopters faster, bigger and more comfortable to attract more customers from the offshore oil and gas industry to generate sales as military budgets shrink.

Oil companies already use helicopters to ferry workers to and from offshore rigs. These choppers may rack up 1,500 hours of flight time every year, much more than corporate or even military equivalents.

Jun 20, 2013

Airbus bags firm orders worth $39 billion at show

PARIS (Reuters) – European planemaker Airbus (EAD.PA: Quote, Profile, Research, Stock Buzz) clinched deals for another 90 planes on Thursday, taking its total orders and commitments at the Paris Airshow to 466 aircraft worth $68.7 billion at list prices.

The tally includes firm purchase orders for 241 planes worth $39.3 billion, Airbus told a news conference at the show.

Jun 20, 2013

Mining equipment makers rise to efficiency challenge

FRANKFURT/STOCKHOLM, June 20 (Reuters) – Mining equipment
manufacturers are making improvements to machinery that they
hope will deliver productivity gains for customers and counter
falling orders.

Under pressure from investors for higher returns, miners
want to get the most out of every shovel, grinder and truck to
help maintain margins which are being squeezed by high labour
and energy costs and cooling commodity prices.

Jun 19, 2013

Sky’s the limit for civil drones

PARIS, June 19 (Reuters) – From their roots in spying and
stealth military attacks, unmanned planes are spreading into the
civilian sphere and could soon be put to work in tasks as
diverse as inspecting oil pipelines, catching rhino poachers and
even flying travellers.

According to the European Commission, there are more than
400 projects across 20 European countries to develop civil
unmanned aerial vehicles (UAV) ranging from some weighing just a
few grammes to others the size of an Airbus A320 jet.

Jun 19, 2013

Orders top $100 bln as Ryanair gives Boeing a boost

PARIS, June 19 (Reuters) – Orders at the Paris Airshow
surpassed $100 billion on Wednesday, as planemakers Boeing
and Airbus cashed in on demand for
fuel-efficient jets and growth in both budget carriers and
emerging markets.

Ryanair, Europe’s biggest low-cost airline,
finalised an order for 175 Boeing 737-800 aircraft worth around
$15.6 billion at list prices on day three of the aerospace
industry’s showcase event, the largest single order ever placed
by a European airline with the U.S. group.