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Jan 11, 2013

Hugo Boss banks on U.S., China for 2013 growth

METZINGEN, Germany (Reuters) – German fashion house Hugo Boss is confident it will outperform the luxury market in 2013 thanks to a robust U.S. business and an expected uppick in China later in the year, its finance chief told Reuters.

“What we expect is an improvement over the course of the year,” Mark Langer told Reuters in an interview at the group’s headquarters in the small German town of Metzingen near Stuttgart. “I’m more cautious for the first quarter.”

Dec 20, 2012

Diamonds are a German’s best friend this Christmas

FRANKFURT, Dec 20 (Reuters) – With record low interest rates
providing little incentive to open a bank account, canny Germans
are choosing a more glamorous place to put their money this
Christmas – jewellery.

Demand for diamond rings and gold watches is also being
fuelled by an uncertain economic outlook, which is making
shoppers in Europe’s largest economy seek out gifts more likely
to retain – and possibly increase – their value.

Dec 11, 2012

German investor morale improves sharply in December

MANNHEIM, Germany (Reuters) – Morale among German analysts and investors improved sharply in December on the back of encouraging U.S. economic data, fanning hopes that Europe’s largest economy will avoid recession this winter.

The unexpectedly upbeat survey from the ZEW think tank on Tuesday followed data that has shown exports – the traditional engine of Germany’s economy – losing momentum, industrial output tumbling and unemployment nudging higher.

Dec 7, 2012

Billionaire Aldi heir dies aged 58

FRANKFURT, Dec 7 (Reuters) – German billionaire Berthold
Albrecht, who became one of Europe’s richest men after he and
his brother Theo Jr inherited the Aldi discount supermarket
chain, has died aged 58, his family announced on Friday.

The brothers’ fortune, held by a family foundation, was
estimated at $17.8 billion by Forbes, placing them 32nd in its
list of billionaires.

Nov 30, 2012

Metro sells hypermarkets to Auchan in drive to cut debt

FRANKFURT, Nov 30 (Reuters) – German retailer Metro AG
is selling its Real hypermarkets in eastern Europe to
French rival Auchan in a 1.1 billion euro ($1.4 billion) deal to
cut debt and focus on expanding its cash and carry and consumer
electronics stores.

Auchan, controlled by the Mulliez family, one of France’s
wealthiest, said the deal would double its store presence in
central and eastern Europe, a key area for development.

Nov 28, 2012

Airport adds personal touch to woo big-spending Chinese

FRANKFURT (Reuters) – In the gleaming open spaces of a duty free store at Frankfurt airport, 32 year old Benny from China is ticking off items on his shopping list with the aid of the airport’s new Mandarin-speaking personal shopper, Wasim Hussein.

“It’s a great service,” Benny, a student who was in Germany visiting friends, said in Chinese, displaying a shopping list on his iPhone that includes Estee Lauder face creams at 50 euros apiece as presents for his wife and friends.

Nov 16, 2012

Henkel bets on emerging markets and M&A as Europe flags

LONDON (Reuters) – German consumer goods group Henkel (HNKG_p.DE: Quote, Profile, Research) is ramping up investment in developing countries and hunting for acquisitions in a bid to lift sales over a quarter by 2016 and counter weakening markets in Europe.

The maker of Persil washing powder and Schwarzkopf hair products said on Friday it would invest 2 billion euros over the next four years, up 40 percent on 2008-12, and set up seven new research and development centres in countries like Brazil, South Africa and South Korea to develop products for local consumers.

Nov 16, 2012

Henkel lifts bet on emerging markets as Europe slows

LONDON, Nov 16 (Reuters) – German consumer goods group
Henkel is ramping up investment in emerging markets
in a bid to lift sales over a quarter by 2016 and counter
deteriorating markets in Europe.

The German maker of Persil washing powder and Schwarzkopf
hair products said on Friday it was aiming for 20 billion euros
($25.6 billion) of sales by 2016, up from 15.6 billion in 2011.

Nov 13, 2012

Sinking German investor morale fuels recession talk

MANNHEIM, Germany (Reuters) – Morale among Germany’s analysts and investors sank in November as the crisis in the euro zone pounded its top economy, which looks increasingly at risk of joining the region’s periphery in recession.

Tuesday’s unexpectedly gloomy survey from the ZEW think tank followed a run of domestic data showing the private sector contracting, business sentiment plummeting, jobless rates rising and industrial orders dropping.

Nov 13, 2012

German investor morale slips as euro crisis takes toll

MANNHEIM, Germany, Nov 13 (Reuters) – German analyst and
investor sentiment unexpectedly fell in November as the euro
zone crisis pounds Europe’s largest economy and optimism spurred
by the European Central Bank’s announcement of an unlimited
bond-buying programme wanes.

The main reading from the ZEW think tank’s monthly poll
showed economic sentiment fell to -15.7 from -11.5 in October,
coming in well below the consensus forecast in a Reuters poll of
38 analysts for a reading of -9.8.

    • 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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