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☆ Euro zone consumer confidence falls to -17.9 in October
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: 1 min

A customer shops at a Carrefour supermarket in Montesson near Paris, France, September 13, 2023. REUTERS/Sarah Meyssonnier/File Photo Acquire Licensing RightsOct 23 (Reuters) - Euro zone consumer confidence fell by 0.1 points in October from the September number, figures released on Monday showed. The European Commission said a flash estimate showed euro zone consumer morale decreased to -17.9 this month from -17.8 in September. In the European Union as a whole, consumer sentiment remained unchanged at -18.7. For European Commission data click on: https://ec.europa.eu/info/business-economy-euro/indicators-statistics/economic-databases/business-and-consumer-surveys/latest-business-and-consumer-surveys_en#recent-press-releasesReporting by Anastasiia Kozlova in GdanskOur Standards: The Thomson Reuters Trust Principles.

Persons: Sarah Meyssonnier, Anastasiia Kozlova Organizations: Carrefour, REUTERS, European Commission, Reuters, Union, Thomson Locations: Montesson, Paris, France, Gdansk

☆ Austria's Uniqa and Raiffeisen to sell stake in Raiffeisen Life to Russian insurer
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of the Austrian insurer Uniqa is seen in front of its headquarters in Vienna, Austria, March 10, 2016. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsAug 24 (Reuters) - Austria's Uniqa (UNIQ.VI) and Raiffeisen Bank (RBIV.VI) are to sell their stakes in Raiffeisen Life to Russian insurer Renaissance Life, becoming the latest move by Western companies to pare back business in Russia. Uniqa held 75% of Raiffeisen Life and RBI held the remaining 25%. "This means we are withdrawing from Russia," Uniqa's Management Board Member for Customers & Markets International Wolfgang Kindl said in the statement. In the first six months of 2023, Uniqa's technical result in Russia shrank to 5.8 million euros ($6.30 million) from an adjusted 8.5 million euros in the first half of 2022.

Persons: Leonhard Foeger, Uniqa, Wolfgang Kindl, pare, Tristan Veyet, Alexandra Schwarz, Andrey Sychev, David Evans Organizations: Uniqa, REUTERS, Raiffeisen Bank, Customers, Markets, Kremlin, Erste Group, Thomson Locations: Vienna, Austria, Western, pare, Russia, Ukraine, Gdansk

☆ Hugo Boss stays strong in tough China, U.S. markets
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] Hugo Boss store is seen in Polanco in Mexico City, Mexico May 20, 2017. Its business in EMEA and the Americas benefited from a pick-up in tourism, Hugo Boss said, while currency-adjusted revenue in China increased 56% from a year earlier, making the Asia-Pacific region the strongest for the company. The company expects its annual sales to grow 12% to 15% and reach 4.1 billion to 4.2 billion euros, compared with its previous forecast for about 10% growth to 4 billion euros. Hugo Boss forecasts its 2023 operating profit to grow 20% to 25% to a level of 400 million to 420 million euros, versus its prior range of 10% to 20%. Shares of Hugo Boss were seen up 0.7% in early Frankfurt trade.

Persons: Hugo Boss, Henry Romero, Hugo, JP Morgan, Linda Pasquini, Milla Nissi, Christopher Cushing Organizations: REUTERS, U.S, Group, Thomson Locations: Polanco, Mexico City, Mexico, China, Asia, EMEA, Americas, Pacific, Frankfurt, Gdansk

☆ Germany in intensive talks with Intel on chip plant, economy ministry says
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

BERLIN, June 16 (Reuters) - Germany is in intensive talks with Intel (INTC.O) on plans to set up a new chip-making complex on its soil, the economy ministry said on Friday, without commenting on how much state funding the company was set to receive for the project. "The goal of the government is clear: We want to strengthen Germany as a location for microelectronics. This is highly important for transformation and technological sovereignty, and for this reason we are conducting intensive talks," a ministry spokesperson said. She did not say how much the company would receive in state subsidies for the site in the central German city of Magdeburg. German Chancellor Olaf Scholz will meet with Intel CEO Pat Gelsinger on Monday, according to a government spokesperson.

Persons: Olaf Scholz, Pat Gelsinger, Handelsblatt, Rachel More, Miranda Murray Organizations: Intel, U.S ., Thomson Locations: BERLIN, Germany, German, Magdeburg, U.S

☆ Ukraine to get more Leopard-2 tanks from Western partners
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: 1 min

Berlin, June 15 (Reuters) - Ukraine will get a further 14 Leopard-2 battle tanks worth a three-digit million euro sum from Western partners, financed by Denmark and the Netherlands, Handelsblatt business daily reported on Thursday, citing NATO sources. The vehicles will be supplied and refurbished by the Rheinmetall group, the paper reported. Contracts for the new delivery have already been signed and the German government was involved as it has to agree to the export of vehicles, it added. Delivery of the battle tanks is to take place by the end of January, reported Handelsblatt. Writing by Anastasiia Kozlova Editing by Madeline ChambersOur Standards: The Thomson Reuters Trust Principles.

Persons: Anastasiia, Madeline Chambers Organizations: NATO, Rheinmetall, Thomson Locations: Berlin, Ukraine, Denmark, Netherlands

BERLIN, June 7 (Reuters) - German industrial output rose less than expected in April, darkening the outlook for the euro zone's largest economy following weak new orders data earlier this week. The statistics office revised up the industrial production figure for March to a 2.1% decrease from a provisional figure of a 3.4% fall. Even with this revision, German industrial production is 1.6% below its level a year earlier. Data on Tuesday showed industrial orders fell by 0.4% in the month of April. "Without any significant pick up in activity, the German economy's recession could continue in the second quarter," ING's global head of macro Carsten Brzeski said.

Persons: Andrew Kenningham, Kenningham, April's, Commerzbank's, Ralph Solveen, Solveen, Carsten Brzeski, Anastasiia Kozlova, Maria Martinez, Miranda Murray, Christina Fincher Organizations: Companies, Thomson Locations: BERLIN, Europe, China, United States

☆ German industrial orders fall unexpectedly in April
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

June 6 (Reuters) - German industrial orders fell unexpectedly in April, dragged down by large-scale orders, data from the federal statistics office showed on Tuesday. Industrial orders fell by 0.4% on the previous month on a seasonally and calendar adjusted basis. Excluding large-scale orders, there was an increase of 1.4% in April compared to the previous month. Year-on-year, industrial orders were down 9.9% in April. Domestic orders rose by 1.6%, while foreign orders sank by 1.8% on the previous month, the statistics office data showed.

Persons: Holger Schmieding, Schmieding, Franzisca Palmas, Maria Martinez, Anastasiia, Rachel More Organizations: Reuters, Companies, Capital Economics, Thomson Locations: Franzisca, Europe, Berlin, Gdansk

☆ Helene von Roeder to become new CFO of Germany's Merck
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: 1 min

[1/2] People sit next to a Merck logo at SEMICON Taiwan in Taipei, Taiwan, September 14, 2022. REUTERS/Ann WangMay 8 (Reuters) - Germany's Merck KGaA (MRCG.DE) has appointed Helene von Roeder as the new chief financial officer and member of the Executive Board after Marcus Kuhnert has decided to step down, the drugmaker announced on Monday. The changes would become effective from July 1, the company added. German real estate company Vonovia (VNAn.DE) announced this month that von Roeder would be leaving its management board at her own request as of July 1. (This story has been refiled to make it clear that the company is Germany's Merck)Reporting by Anastasiia Kozlova and Amir Orusov Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

The company's full-year operating profit of 1.51 billion euros ($1.60 billion) came after a loss of 1.6 billion euros a year ago. Fourth-quarter profit swung to 575 million euros from a loss of 42 million euros, in line with expectations. The balance sheet also improved, with net debt falling to 6.9 billion euros from 9 billion euros. However, operating profit was still 34% lower than the pre-pandemic 2019 level and passenger numbers had only recovered 72%. The company said it expects "further significant improvement" in operating profit this year.

Feb 2 (Reuters) - German chip equipment supplier Siltronic (WAFGn.DE) on Thursday said demand for its wafers was still strong even as it warned a slowdown in end-markets could weigh on 2023 results. The Munich-based supplier of silicon wafers for the semiconductor industry said demand for its products had remained high so far this year, but added some of its customers expected weaker orders in the first half of 2023. German chipmaker Infineon (IFXGn.DE), one of Siltronic's biggest customers, said on Thursday it saw significantly weaker demand in areas such as smartphones, PCs and data centres in the first quarter. The group, which did not provide detailed financial targets for 2023, also said it expected the high inflation to keep pushing up unit costs this year. ($1 = 0.9076 euros)Reporting by Andrey Sychev and Anastasia Kozlova in Gdansk; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ Online pharmacy Zur Rose improves 2022 core loss target
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +1 min

Jan 19 (Reuters) - Zur Rose (ROSEG.S) expects a smaller full-year core loss than previously guided, the Swiss online drug retailer said on Thursday, citing a faster-than-planned progress in its break-even programme for 2023. It forecast adjusted core loss (EBITDA) of between 70 million and 75 million Swiss francs ($76.39 million and $81.84 million) in 2022, compared with its previous range of 75 million to 85 million francs. Zur Rose said it should be possible to redeem e-prescriptions in pharmacies using the electronic health card from mid-2023, with a nationwide introduction expected from the summer of 2023. Germany, which made up two thirds of the company's external revenue in 2021, accounted for 59% of Zur Rose's revenue in 2022. Zur Rose said it would provide an outlook for 2023 along with its full annual results on March 23.

☆ Rheinmetall wins quarter-billion euro order for e-vehicle parts
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: 1 min

Jan 2 (Reuters) - Germany's Rheinmetall (RHMG.DE) has won an order worth more than a quarter billion euros in the electromobility segment, the industrial group said in a statement on Monday. Rheinmetall said it would be providing the new 900-volt generation of electrically powered vehicles with a new type of contactor to a premium German automaker. Contactors are electrically controlled switches that make it safe to turn electric vehicles on and off, said Rheinmetall. Starting in 2025, Rheinmetall will supply tens of millions of these contactors for the automaker's new vehicle platform, the company said. Reporting by Anastasiia Kozlova, Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ The rise and fall of Wirecard
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +5 min

July 2: The head of Germany's financial watchdog calls the accounting scandal at Wirecard "a massive criminal act". July 6: German prosecutors arrest the head of a Dubai-based subsidiary of Wirecard. 2021Jan. 29: Felix Hufeld, president of German financial watchdog BaFin, steps down. 2022Jan. 14: German prosecutors file first charges in Wirecard fraud, the Financial Times reports. Sept. 21: A Munich district court said it had admitted charges against former Wirecard executives, paving way for a trial.

☆ Factbox: Automakers accelerate drive to secure battery raw materials
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +7 min

read more08-Dec-2021 - Belgium's Umicore (UMI.BR) will supply cathode materials for Volkswagen's European battery cell factories under a joint venture. MERCEDES BENZ (MBGn.DE):23-Aug-2022 - Mercedes-Benz strikes cooperation agreement with Canada to secure access to lithium, nickel and cobalt. read more04-Oct-2021 - BHP Group (BHP.AX) will supply nickel sulphate from Western Australia to Toyota and Panasonic's joint venture. read moreFORD (F.N)22-July-2022 - Ioneer Ltd signs binding offtake agreement with Ford to supply lithium from Rhyolite Ridge in Nevada. read more22-Sept-2021 - Ford partners with startup Redwood Materials to form a "closed loop" or circular supply chain for electric vehicle batteries, from raw materials to recycling.

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