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Oct 25, 2011

Puma plays catch-up in U.S. as Q3 meets targets

FRANKFURT, Oct 25 (Reuters) – German sporting goods maker
Puma said it had more work to do to attract customers
in the United States after sales there fell in the third
quarter.

“The North American market is more arduous than we had
expected,” finance manager Michael Laemmermann said after the
group affirmed 2011 targets for 3 billion euros ($4.2 billion)
in sales and a mid single digit percentage rise in net earnings.

Oct 20, 2011

Lufthansa Cargo reshuffles ops on night flight ban

FRANKFURT, Oct 20 (Reuters) – German airline Lufthansa AG
said a court ruling halting night flights from its
cargo unit’s Frankfurt hub would cost it tens of millions of
euros in rescheduled flights, result in lost customers and hurt
the logistics industry.

Lufthansa Cargo has yet to come up with a long-term
alternative for its operations should the night flight ban be
upheld by a new court ruling, due in 2012, the unit’s CEO said
on Thursday.

Oct 18, 2011

DealTalk: Bmi facing break-up in battle for Heathrow

LONDON/FRANKFURT (Reuters) – Deutsche Lufthansa AG (LHAG.DE: Quote, Profile, Research, Stock Buzz) may have to break up its British bmi unit to sell the underperforming carrier, as larger airlines eye its access at Heathrow airport and smaller players look to pick off its budget and regional operations.

Lufthansa, which has seen loss-making bmi drag on its earnings since acquiring it in 2009, has effectively admitted turnaround efforts are stumbling, by saying it is now also seeking a partner for the airline.

Oct 14, 2011

Adidas faces basketball hit as NBA dispute drags on

FRANKFURT, Oct 14 (Reuters) – With the first two weeks of
the U.S. basketball season cancelled and more games under
threat, German sporting goods maker Adidas faces
losing half its licensed NBA apparel sales, analysts estimate.

Games that have been dropped from the 2011/12 season, due to
start on Nov. 1, include defending champions Dallas Mavericks at
home to the Chicago Bulls.

Oct 12, 2011

Strike of German air traffic controllers averted

FRANKFURT, Oct 12 (Reuters) – The German air traffic control
authority has reached a deal on pay and conditions with the GdF
union, thus averting a strike that would have disrupted
thousands of flights across Europe.

The DFS authority said on Wednesday it had agreed to
increase pay by a total 5.2 percent in two stages over a 17
month period, while certain employees would be moved up the pay
scale, thus receiving a further increase.

Oct 12, 2011

Puma seeks new markets with F1 deals

FRANKFURT (Reuters) – German sporting goods maker Puma plans to use a new Formula One partnership to gain consumers in Asia’s emerging markets and reassert its sports performance credentials, a Puma executive said on Wednesday.

Puma earlier signed a deal to provide Formula One team Mercedes GP Petronas with fire-proof racewear for drivers and pit teams, and to produce licensed apparel.

Oct 11, 2011

Court stops night flights at Frankfurt airport

FRANKFURT, Oct 11 (Reuters) – A German court has banned
night flights at Frankfurt airport after complaints from
residents, dealing a blow to cargo and passenger operations as
Germany’s largest airport prepares to open a new runway.

The administrative supreme court of Hesse said the ban would
start on Oct. 30 with the new winter flight schedule, drawing
consternation from German airlines at the lack of time in which
to alter internationally agreed flight schedules.

Oct 9, 2011

Metro CEO Cordes says not seeking contract renewal

FRANKFURT, Oct 9 (Reuters) – Eckhard Cordes, chief executive
of German retailer Metro , said he no longer wishes to
renew his contract, just weeks after winning support from the
group’s top shareholder.

Cordes had seemed in danger of losing his job last month
after reports that he had fallen out of favour with some
supervisory board members, who were due to vote later in the
autumn on whether his contract would be extended past October
2012.

Sep 30, 2011

German beer baron’s death sparks inheritance battle

FRANKFURT, Sept 30 (Reuters) – Investigations are continuing
into the death of a 90-year-old German multi-millionaire who
died shortly after marrying a 26-year-old model who inherited
his beer-brewing fortune, Frankfurt state prosecutors said on
Friday.

Bruno Schubert, who made his millions with his family
brewery Henninger, married Meharit Kifle, a Belgian model of
Ethiopian origin, in August 2009 just months after his first
wife had died.

Sep 27, 2011

Kingfisher boss urges monetary easing if recession looms

BERLIN (Reuters) – Europe should stand ready to ease monetary policy if crumbling consumer confidence leads to a big drop in spending, the head of Europe’s biggest home improvements retailer said on Tuesday.

So far, spending levels have remained fairly steady, albeit subdued, in the face of a euro zone sovereign debt crisis, Kingfisher (KGF.L: Quote, Profile, Research) chief executive Ian Cheshire told Reuters.

    • 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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