FRANKFURT (Reuters) – Germany’s Lufthansa (LHAG.DE: Quote, Profile, Research, Stock Buzz) has picked Carsten Spohr as its new chief executive, naming a company veteran to lead the battle against low-cost carriers and fast-growing Gulf airlines.
Germany’s largest airline has been looking for a new boss since September, when it was announced current CEO Christoph Franz would leave at the end of May to become chairman at Swiss pharmaceuticals company Roche (ROG.VX: Quote, Profile, Research, Stock Buzz).
FRANKFURT/MILAN, Feb 6 (Reuters) – A potential deal to buy a
stake in troubled Italian airline Alitalia could be
the biggest test yet for Abu Dhabi-based Etihad’s strategy of
using stakes in ailing airlines as an easy way to expand its
Etihad’s collection of minority airline stakes stretches
from the Seychelles to Ireland and Australia, and dates back to
the purchase of an almost 30 percent stake in Air Berlin
at the end of 2011.
BERLIN (Reuters) – If anyone wants to know the German for “weasels covered in gravy”, then comic Eddie Izzard, who unlike some of his countrymen is a lover of all things European, is the go-to man.
The stand-up, already known for doing shows in French, is bringing his Force Majeure tour to audiences in German, Spanish, Russian and Arabic – all languages he doesn’t actually speak. Until now.
DUBLIN (Reuters) – Crisis, what crisis? The good times are rolling in the aircraft finance industry as yield-hungry investors gamble on growing demand for air travel, banishing recent jitters over funding.
Despite new concerns over emerging markets that mounted on Friday, an annual gathering in Dublin this week attracted record numbers of lawyers, bankers and lessors who keep the $100 billion a year jetliner industry aloft with funding.
FRANKFURT, Jan 16 (Reuters) – Germany’s Beiersdorf
, the maker of Nivea skin care creams, said it was
extending its chief executive’s contract after his turnaround
strategy led the group to its highest level of underlying sales
growth in five years.
Beiersdorf, which also makes La Prairie luxury face creams
and Labello lip balms, reported 2013 sales of 6.14 billion euros
($8.4 billion), a 7.2 percent jump and its fastest growth since
BERLIN (Reuters) – Etihad will not be rushed into making a decision over an investment in struggling Italian airline Alitalia CAITLA.UL, the chief executive of the Abu Dhabi-based airline said on Monday.
“There are no plans to make any announcement at the end of this month,” James Hogan told journalists at an event with Air Berlin in the German capital.
BERLIN/FRANKFURT, Jan 9 (Reuters) – Hennes & Mauritz
, the world’s second-biggest clothing retailer, is
launching a new sportswear line with the help of Sochi-bound
Swedish Olympians in a bid to outpace discounters like Primark
that are snapping at its heels.
The global sportswear market will grow more than 7 percent
in 2014, outpacing 5.8 percent growth for broader apparel,
according to Euromonitor. H&M hopes that by muscling into a
market seen to be worth $220 billion this year it can move away
from the cut-throat budget fashion area and towards
higher-margin products could help it copy the success of
Inditex’s mid-market fashion chain Zara.
HANOVER, Germany, Dec 18 (Reuters) – German travel and
tourism group TUI AG said more work was needed to
turn around underperforming cruise and hotels businesses as it
targets underlying profit of 1 billion euros ($1.4 billion) in
two years’ time.
The company, which reported underlying earnings before
interest tax and amortisation (EBITA) for the year to
end-September up 2 percent, also said it would pay a 0.15 euro
per share dividend, the first since 2007, sending its shares to
a five-year high.
FRANKFURT (Reuters) – In Brazil’s World Cup stadiums next summer, soccer teams from around the globe will battle for the famous golden trophy.
At the same time, another fight for global supremacy will be taking place – as Adidas takes on Nike in the next round of their tussle to be the world’s biggest sports brand.
FRANKFURT (Reuters) – German sporting goods maker Adidas (ADSGn.DE: Quote, Profile, Research, Stock Buzz) is counting on soccer, running and a host of new shirts and shoes to help it achieve profit and sales growth in 2014 and hit its 2015 goals, the company said on Tuesday.
Adidas, the world’s second largest sportswear maker behind Nike (NKE.N: Quote, Profile, Research, Stock Buzz), is aiming to increase sales to 17 billion euros in 2015 and increase its operating profit margin to 11 percent that year, compared with 11 billion and 7.5 percent in 2010.