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Sep 7, 2012

Lufthansa ends labor strikes, agrees on arbitration

FRANKFURT (Reuters) – Lufthansa (LHAG.DE: Quote, Profile, Research) has ended a run of strikes which had led to the cancellation of more than 1,000 flights after conceding to a key demand by organised labor, with both sides agreeing to seek arbitration next week.

“We hope that this step will help UFO to join us in constructive talks to come up with a competitive pay structure for cabin crew,” Lufthansa Chief Executive Christoph Franz said in a statement.

Sep 7, 2012

Lufthansa makes concession in cabin crew pay row

FRANKFURT (Reuters) – Lufthansa on Friday offered permanent contracts to some temporary cabin crew in an attempt to end a run of strikes which has caused the cancellation of over 1,000 flights and cost the German airline over 10 million euros.

“We hope that this step will help UFO to join us in constructive talks to come up with a competitive pay structure for cabin crew,” Lufthansa Chief Executive Christoph Franz said in a statement.

Sep 7, 2012

Lufthansa, cabin crew to resume talks over strikes

FRANKFURT (Reuters) – The union representing striking cabin crew at Lufthansa (LHAG.DE: Quote, Profile, Research, Stock Buzz) said it would resume talks on Friday afternoon with the airline in a bitter row over pay and conditions that led to a 24-hour strike on Friday, the biggest stoppage to date.

Speaking to protesters through a megaphone at Frankfurt’s Terminal 1, UFO head Nicoley Baublies said he had telephoned Lufthansa to try to end what he described as “trench warfare”.

Aug 14, 2012

TUI AG says business on track after good summer

FRANKFURT, Aug 14 (Reuters) – German travel and tourism
group TUI AG said it expects a good financial
performance this year after strong summer trading helped it beat
analyst forecasts for its third-quarter results.

“Trading for the peak summer season is encouraging and
together with positive forex effects, we are confident for the
fourth-quarter performance,” Chief Financial Officer Horst Baier
told analysts on Tuesday.

Aug 2, 2012

Adidas outruns rivals in tough markets

FRANKFURT, Aug 2 (Reuters) – World No.2 sporting goods maker
Adidas said that a summer of sport was boosting
demand for its three-stripe products, helping it stay a step
ahead of rivals and avoid the worst of a slowdown in sales
growth in China and Europe.

“If the world collapses it might hit us as well, but I do
believe, without sounding too confident, that we are much better
than our competitors,” Chief Executive Herbert Hainer said on
Thursday, after forecasting 2012 earnings towards the top of its
target range.

Aug 2, 2012

Adidas fans fears of slowdown after Olympics boost

FRANKFURT (Reuters) – World No.2 sporting goods maker Adidas reported a slowdown in sales growth in China and Europe, fuelling fears that demand could fade after a summer of sporting events it expects will boost 2012 earnings towards the top of its target range.

Adidas (ADSGn.DE: Quote, Profile, Research, Stock Buzz), famed for its three stripe logo, also said on Thursday second-quarter sales at its Reebok brand slumped 26 percent after “commercial irregularities” at its Indian arm and the loss of a major American football contract.

Jul 31, 2012

Hugo Boss eyes 2012 profit miss as Asia slows

FRANKFURT, July 31 (Reuters) – German fashion house Hugo
Boss said full-year profit would fall short of
analysts’ expectations amid cooling demand from once
fast-growing Asian markets.

Asia’s hunger for high-end brands has shielded luxury
companies from the worst of the European slowdown, but with
China on track for its slowest full year of growth since 1999,
there are concerns over luxury sales.

Jul 26, 2012

Puma cuts sponsorships, products to battle Europe blues

FRANKFURT, July 26 (Reuters) – German sportswear maker Puma
will reduce the number of products it sells and cut
back on sponsorship deals in its biggest reorganisation in 20
years as it battles weak European markets it fears will get no
better anytime soon.

Puma, a distant third in terms of sportswear sales behind
Nike and Adidas, has been struggling to find
its feet after focusing too heavily on fickle fashion markets,
and last week warned 2012 profits would miss forecasts after its
core European customers held back on spending.

Jul 26, 2012

Style on a budget is key in European hotels battle

FRANKFURT, July 26 (Reuters) – Hotelier Dieter Mueller wants
to achieve a first by creating an international German hotel
chain that proves cheap can be so much more than cheerful in the
increasingly competitive budget sector.

With its promise of high design at low prices, Mueller’s
fast-growing Motel One chain has joined citizenM and B&B Hotels
as part of a new breed of hotels leading the charge on
established budget brands such as Travelodge, Whitbread’s
Premier Inn and Accor’s Formule 1.

Jul 13, 2012

Spotlight turns to output as Boeing wins show

FARNBOROUGH, England (Reuters) – The world’s dominant aircraft makers, Airbus and Boeing, left a rain-swept Farnborough Airshow without the order deluge some had predicted, but each claiming victories as they prepare to focus on delivering a huge jet backlog from a dwindling order boom.

Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz) won 50 percent more firm orders than its arch-rival, including a $14.7 billion bulk buy from United Continental (UAL.N: Quote, Profile, Research, Stock Buzz) announced not at the show but in Chicago on Thursday, helping it recover ground after falling behind last year.

    • About Victoria

      "Based in Frankfurt, covering German companies in the retail, travel and leisure sectors. In my previous Reuters incarnation in London, I focused on green tech firms, utilities and an array of smallcaps that came my way on the Breaking News team. I started my career as a translator with the Financial Times in London before switching into journalism."
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