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☆ Fiscal rules revamp may threaten calm in euro zone's fragile bond markets
▼ + stars: | 2023-12-04 | by ( Stefano Rebaudo | ) www.reuters.com time to read: +5 min

Analysts believe Germany's budget crisis will mean tougher fiscal policy in the largest euro zone economy in 2024, which could add to pressure on less wealthy members of the bloc to keep a tighter grip on their finances. Italian 10-year bonds currently yield around 173 basis points more than German debt , 38 bps less than a year ago, while the gap between Portuguese and German yields has narrowed by 34 basis points. French bonds meanwhile yield 58 bps more than German, 5 bps more than a year ago. Analysts argued the German public may be unwilling to accept a tightening of domestic fiscal policy without a blanket approach across Europe - meaning a tougher scenario for the periphery. Bondholders are meanwhile banking on the European Central Bank cutting interest rates in a few months, which should support euro zone peripheral debt.

Persons: Giorgia Meloni, Olaf Scholz, Fabrizio Bensch, Ruben Segura, BofA's Segura, Cayuela, Felix Hubner, Massimiliano Maxia, Stefano Rebaudo, Catherine Evans Organizations: Italian, REUTERS, Germany, Union, Northern, European Commission, UBS, Analysts, European Central Bank, JPMorgan, ECB, Allianz Global Investors, bps, Thomson Locations: Berlin, Germany, Italy, Cayuela, European, Greece, Spain, Europe

WASHINGTON, Nov 30 (Reuters) - Henry Kissinger, the most powerful U.S. diplomat of the Cold War era, who helped Washington open up to China, forge arms control deals with the Soviet Union and end the Vietnam War, but who was reviled by critics over human rights, has died aged 100. While many hailed Kissinger for his brilliance and statesmanship, others branded him a war criminal for his support for anti-communist dictatorships, especially in Latin America. Kissinger won the 1973 Nobel Peace Prize for ending U.S. involvement in the Vietnam War, but it was one of the most controversial ever. When Nixon's pledge to end the Vietnam War helped him win the 1968 presidential election, he brought in Kissinger as national security adviser. And in the India-Pakistan War of 1971, Nixon and Kissinger drew heavy criticism for tilting toward Pakistan.

Persons: Henry Kissinger, Kissinger, Richard Nixon, Nixon's, Gerald Ford, Joe Biden's, John Kirby, Biden, Le Duc Tho, Vladimir Putin, Benjamin Netanyahu, Abdul Momen, Kissinger's, Momen, Ford, Henry, Antony Blinken, Lloyd Austin, Heinz Alfred Kissinger, Egon Bahr, Fabrizio Bensch, Lyndon, Nixon, Premier Zhou Enlai, Mao Zedong, China Winston Lord, Leonid Brezhnev, Salvador Allende, Jimmy Carter, Ronald Reagan, George W, Bush, Xi Jinping, Ann Fleischer, Nancy Maginnes, New York Governor Nelson Rockefeller, Steve Holland, Arshad Mohammed, Dan Whitcomb, Don Durfee, Kanishka Singh, David Brunnstrom, Trevor Hunnicutt, Jarrett Renshaw, Bill Trott, Diane Craft, Rosalba O'Brien, Tomasz Janowski, Frances Kerry, Jonathan Oatis Organizations: Jewish, Kissinger Associates, Arlington National, Republican, Paris Peace, Democratic, U.S, HARVARD, Nazi, Social Democratic, Mary's, REUTERS, Army, Harvard University, State Department, Paris Peace Accords, Communist, Premier, Former U.S, Ford, CIA, Democrat, House, New York Governor, Thomson Locations: U.S, Washington, China, Soviet Union, Vietnam, German, Connecticut, New York, Arlington, Israel, Paris, North Vietnam, America, Cambodia, North Vietnamese, Beijing, Russian, statesmanship, West, East Pakistan, Bangladesh, Fuerth, Germany, United States, St, Berlin, Europe, Jerusalem, Damascus, Syria, Golan, Vladivostok, Egypt, Sinai, India, Pakistan, Saint Paul , Minnesota, Long Beach , California

☆ German authorities urge people to stay home amid deadly winter weather
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

[1/3] People walk at the park after snowfall on the grounds of the Charlottenburg Castle in Berlin, Germany, November 28, 2023. REUTERS/Fabrizio Bensch Acquire Licensing RightsNov 28 (Reuters) - Authorities in western Germany on Tuesday urged residents to stay home, warning of life-threatening danger, after a burst of winter weather led to hazardous roads, leaving two people dead. The sudden onset of winter led to several accidents and people being trapped in their vehicles due to slippery roads and fallen branches caused by snowfall in many parts of Germany. In Rheingau-Taunus district in the west of Hesse, 100 people were evacuated from their vehicles near Eltville-Martinsthal, while 70 people were trapped on the road near Linienbad. The German Meteorological Service (DWD) forecasts snow and sleet again in many federal states today, adding that the weather will persist in the coming days.

Persons: Fabrizio Bensch, Amir Orusov, Miranda Murray Organizations: REUTERS, Schwaebisch, German Meteorological Service, Thomson Locations: Charlottenburg, Berlin, Germany, Baden, Aalen, Denzerheide, Rhineland, Palatinate, Hesse, Eltville, Linienbad

The court ruling has called into question Germany's traditionally strict fiscal policy and sparked warnings that German companies could be starved of support to keep them globally competitive. The debt brake, introduced after the global financial crisis of 2008/09, was first suspended in 2020 to help the government support firms and health systems during the COVID-19 pandemic. HANDS TIEDThe crisis has sparked calls for reforming the debt brake. "With the debt brake as it is, we have voluntarily tied our hands behind our backs and are going into a boxing match," he said. A poll by broadcaster ZDF suggested only a minority of Germans supported suspending the debt brake.

Persons: Christian Lindner, Fabrizio Bensch, Scholz, Olaf Scholz, Lindner, Robert Habeck, Habeck, Steffen Hebestreit, Holger Hansen, Christian Kraemer, Miranda Murray, Rene Wagner, Matthias Williams, Toby Chopra, Gareth Jones Organizations: REUTERS, BERLIN, Finance, Greens, ZDF, Thomson Locations: Berlin, Germany, Europe's, East Germany, China

☆ European countries tighten borders
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +5 min

These countries have reinstated stricter checks:* Austria introduced checks at its border with the Czech Republic in October, set to last until Dec. 6. * Denmark in August tightened border control for arrivals, including those from Schengen countries, at Copenhagen airport to boost security after incidents of Koran burnings. * Germany announced controls in September on its land borders with Poland, the Czech Republic and Switzerland, set to stay in place until Dec. 4. * Sweden strengthened checks in August on its borders, giving border police more power including body searches and increased use of electronic surveillance. * France as of November reintroduced controls on its borders with Schengen members, citing what it called terrorism threats.

Persons: Fabrizio Bensch, Berlin, Matteo Piantedosi, Gerald Darmanin, Olivier Sorgho, Stéphanie, Milla Nissi, Frances Kerry Organizations: REUTERS, European, Austria, EU, Kremlin, Thomson Locations: Forst, Germany, Austria, Czech Republic, Slovenia, Hungary, Ukraine, Denmark, Copenhagen, Poland, Switzerland, Berlin, East, Italy, Norway, Slovakia, Sweden, France, Belgian, Brussels, Africa, Croatia, Finland, Russia, Helsinki, Moscow, Gdansk

☆ Nigeria and Germany sign $500 mln renewable energy and gas deal
▼ + stars: | 2023-11-21 | by ( Felix Onuah | ) www.reuters.com time to read: +3 min

Union Bank of Nigeria and Germany's DWS Group signed a memorandum of understanding (MoU) on renewable energy. The agreement seeks to harness $500 million in investment in renewable energy projects across Nigeria, mostly in rural communities, spokesperson Ajuri Ngelale said in a statement. A second MoU on gas export partnership was agreed between Riverside LNG of Nigeria and Germany's Johannes Schuetze Energy Import AG. Under the accord, Nigeria will supply 850,000 tons of natural gas to Germany annually which is expected to rise to 1.2 million. Under Tinubu, Nigeria has embarked on the boldest reforms in decades, scrapping a popular petrol subsidy and lifting restrictions on foreign exchange trading.

Persons: Olaf Scholz, Bola Tinubu, Fabrizio Bensch, Ajuri Ngelale, Germany's Johannes, Ngelale, Tinubu, Elisha Bala, David Evans Organizations: REUTERS, Rights, Union Bank of Nigeria, Germany's DWS, Riverside, Germany's Johannes Schuetze Energy, AG, Africa, Thomson Locations: Africa, Berlin, Germany, Rights ABUJA, Nigeria, Riverside LNG, Tinubu

☆ Germany's Scholz criticises Israel's settlements in occupied West Bank
▼ + stars: | 2023-11-18 | by ( Andreas Rinke | ) www.reuters.com time to read: +1 min

German Chancellor Olaf Scholz attends a press conference with Turkish President Tayyip Erdogan (not pictured) at the Chancellery in Berlin, Germany, November 17, 2023. REUTERS/Fabrizio Bensch/ File Photo Acquire Licensing RightsBERLIN, Nov 18 (Reuters) - German Chancellor Olaf Scholz criticised Israel's settlement policy in the occupied West Bank on Saturday and repeated calls for a two-state solution for Israel and the Palestinians. "We don't want any new settlements in the West Bank, no violence by settlers against the Palestinians in the West Bank," Scholz said during a visit to Nuthetal in Brandenburg state. The best outcome for Israelis and Palestinians remains the two-state solution, he said. Germany is not only on Israel's side, but together with the U.S., it is the largest donor of humanitarian aid for the Palestinians, the chancellor said.

Persons: Olaf Scholz, Tayyip Erdogan, Fabrizio Bensch, Scholz, Andreas Rinke, Maria Martinez, Kirsten Donovan, Jason Neely Organizations: Turkish, REUTERS, Rights, West Bank, U.S, Thomson Locations: Berlin, Germany, Israel, Nuthetal, Brandenburg

☆ Delivery Hero slightly lifts annual GMV outlook
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] Andreas Harte, a Foodora delivery cyclist poses in front of Delivery Hero headquarters in Berlin, Germany, June 2, 2017. Foodora is part of the Berlin-based company Delivery Hero, one of Europe's largest internet start-ups. REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsNov 14 (Reuters) - German online takeaway food company Delivery Hero (DHER.DE) slightly raised its full-year outlook on Tuesday after reporting a better-than-expected gross merchandise value (GMV) for the third quarter. The Berlin-based company now sees 2023 GMV growth at the upper end of its previous forecast range of 5-7% in constant currency terms. Delivery Hero, which reports earnings numbers only on a half-year and annual basis, said its key Asia-Pacific business reached a positive adjusted EBITDA before group costs in the month of October.

Persons: Andreas Harte, Foodora, Fabrizio Bensch, Emmanuel Thomassin, Ozan Ergenay, Michal Aleksandrowicz, Milla Nissi Organizations: REUTERS, Thomson Locations: Berlin, Germany, Frankfurt, Asia, Pacific, Gdansk

ROCHESTER, N.Y. (AP) — Fans have pushed the Fisher-Price Corn Popper into the National Toy Hall of Fame, elevating it from perpetual finalist to 2023 inductee, alongside baseball cards, Cabbage Patch Kids and NERF foam toys, the Hall of Fame announced Friday. Baseball cards, Cabbage Patch Kids and NERF toys were voted in in the usual way from among a field of 12 finalists, with input from a panel of experts. The winners are on permanent display at the National Toy Hall of Fame, which is located inside The Strong National Museum of Play in Rochester, New York. Cabbage Patch Kids continue to encourage imagination and storytelling for kids. Fisher-Price Corn Popper, which is a forgotten finalist no longer, is a great activity for toddlers," Bensch said.

Persons: Price, Popper, Fisher, Ken, Barbie, ” Christopher Bensch, Price Corn Popper, Bensch, “, grownups Organizations: National Toy Hall of Fame, of Fame, Fame's, Toy Hall of Fame, Museum of Locations: ROCHESTER, N.Y, Rochester , New York

☆ Israel revises Hamas attack death toll to 'around 1,200'
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

People commemorate the victims of October 7 Hamas' attack in front of Brandenburg gate, amid the ongoing conflict between Israel and the Palestinian group Hamas, in Berlin, Germany, November 7, 2023. REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsJERUSALEM, Nov 10 (Reuters) - A spokesperson for Israel's foreign ministry said on Friday that the death toll from the Oct. 7 Hamas attack in southern Israel had been revised to around 1,200 from a previous government estimate of 1,400. "Around 1,200 is the official number of victims of the October 7 massacre," spokesperson Lior Haiat said in a written statement. The death count, which includes foreigners, "is not a final number. It (is) an updated estimate.

Persons: Fabrizio Bensch, Lior Haiat, Haiat, Henriette Chacar, Crispian Balmer, Diane Craft Organizations: Palestinian, Hamas, REUTERS, Rights, Thomson Locations: Brandenburg, Israel, Berlin, Germany

☆ German interior minister supports deportation of Hamas supporters
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

Germany's Interior Minister and Social Democratic Party (SPD) top candidate for the Hesse state election Nancy Faeser gestures as she attends a press conference at party's headquarters in Berlin, Germany, October 9, 2023. REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsBERLIN, Oct 20 (Reuters) - Germany's interior minister said on Friday Hamas supporters should be deported from the country where possible, and authorities would keep a close eye on potential threats following the Palestinian militant group's attack on Israel. "If we are able to deport Hamas supporters, we must do this," Nancy Faeser said following talks with officials at the Federal Criminal Police Office. At the same time members of Germany's large Palestinian community have said their voices are being silenced by demonstration bans. Faeser appealed to citizens to alert authorities of any "propaganda" supporting Hamas.

Persons: Nancy, Fabrizio Bensch, Nancy Faeser, Faeser, Rachel More, Matthias Williams, Deborah Kyvrikosaios Organizations: Social Democratic Party, REUTERS, Rights, Federal Criminal Police, Thomson Locations: Hesse, Berlin, Germany, Israel, Brussels, Munich

☆ Scholz on synagogue attack: 'Antisemitism has no place in Germany'
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

[1/5] Police secure the area after two Molotov cocktails were thrown at the Skoblo Synagogue and Education Center overnight in Berlin, Germany, October 18, 2023. REUTERS/Fabrizio Bensch Acquire Licensing RightsBERLIN, Oct 18 (Reuters) - German Chancellor Olaf Scholz voiced outrage on Wednesday at an attack outside a synagogue in Berlin in which police say two Molotov cocktails were thrown at the building. In a social media post, he added: "Attacks on Jewish institutions and acts of violence on our streets are despicable and cannot be tolerated. Security has been stepped up around Jewish institutions in Germany since Hamas's deadly attack on Israel and resulting Israeli reprisals inflamed opinion in the country's Arab-speaking and Jewish communities. Police have declined most requests to hold pro-Palestinian demonstrations since Hamas's attack and have dispersed a number of impromptu gatherings.

Persons: Fabrizio Bensch, Olaf Scholz, Scholz, Thomas Escritt, Rachel More, Christina Fincher Organizations: Police, Education Center, REUTERS, Rights, Security, Thomson Locations: Berlin, Germany, Egypt, Israel

☆ Volkswagen's Europe and US sales offset China weakness in Q3
▼ + stars: | 2023-10-13 | by ( Christoph Steitz | ) www.reuters.com time to read: +2 min

The Volkswagen group delivered 2.34 million vehicles in total in July-September. In China, deliveries fell 5.8% to 837,200, the company said, joining rival German carmakers in reporting a quarterly decline there. Mercedes-Benz (MBGn.DE) and BMW (BMWG.DE) earlier this week said their third-quarter sales in China fell, with the former hit by supply chain issues and model changes. Still, car sales in China continued a recovery in September, rising for the second consecutive month, benefiting from stronger demand and new models ahead of key holidays. Volkswagen recorded a 40.5% increase in deliveries of all-electric vehicles to 209,900 in the third quarter, accounting for 9% of group deliveries.

Persons: Fabrizio Bensch, carmaker, Ola Kaellenius, Hildegard Wortmann, Christoph Steitz, Tristan Chabba, Rachel More, Mark Potter Organizations: Volkswagen, REUTERS, German, Mercedes, Benz, BMW, Thomson Locations: Salzgitter, Germany, China, FRANKFURT, Europe, North America, Zwickau

☆ Volkswagen's Europe, U.S. vehicle deliveries offset China weakness in Q3
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

Volkswagen employees stand next to Volkswagen electric cars during a ceremony at German carmaker Volkswagen's first battery cell production plant 'SalzGiga' in Salzgitter, Germany, July 7, 2022. Overall, Volkswagen recorded group deliveries of 2.34 million vehicles in the July-September period. In China, deliveries fell 5.8% to 837,200 in the period, Volkswagen said, joining rival German carmakers in unveiling a quarterly drop. Mercedes-Benz (MBGn.DE) and BMW (BMWG.DE) earlier this week saw their third-quarter sales in China fall, with the former being hit by supply chain issues and model changes. Car sales in China still continued their recovery in September, rising for the second consecutive month, benefiting from stronger demand and new models ahead of key holidays.

Persons: Fabrizio Bensch, Ola Kaellenius, Christoph Steitz, Tristan Chabba, Rachel More Organizations: Volkswagen, REUTERS, Rights, German, Benz, BMW, carmakers, Thomson Locations: Salzgitter, Germany, Europe, North America, China

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. Based on the low end of the range, Birkenstock could be valued at as low as $8.5 billion. Their shares have, however, given up gains since going public, muddying the outlook for the IPO market. As of Tuesday's close, Instacart shares were 10% below their IPO price. The company had disclosed a 21% jump in revenue to 1.12 billion euros ($1.19 billion) for the nine-month period ended June 30.

Persons: Fabrizio Bensch, Bernard Arnault, Louis Vuitton Moet Hennessy, Susannah Streeter, Hargreaves Lansdown, Margot Robbie, Barbie, Tommy Tranfo, Tranfo, Birkenstock, Dior, Stüssy, Manolo Blahnik, Rick Owens, Manya Saini, Niket, Anil D'Silva Organizations: REUTERS, New York Stock Exchange, Arm Holdings, Hargreaves, Reuters, Reuters Graphics, Thomson Locations: Berlin, Germany, French, Langen, Bengaluru

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. The company's IPO raised $1.48 billion after its 32.3 million shares were conservatively priced at $46 apiece, positioning the 250-year-old brand for a smooth market debut. "Arguably, this should position Birkenstock more favorably in an environment where real interest rates are high and still rising. Birkenstock had disclosed a 21% jump in revenue to 1.12 billion euros ($1.19 billion) for the nine-month period ended June 30. The brand has partnerships deal with luxury fashion brands, including Dior, Stüssy, Manolo Blahnik and Rick Owens.

Persons: Fabrizio Bensch, Susannah Streeter, Hargreaves Lansdown, Birkenstock, Javier Gonzalez Lastra, France's Bernard Arnault, Louis Vuitton Moet Hennessy, Margot Robbie, Barbie, Michael Ashley Schulman, Tommy Tranfo, Tranfo, Dior, Stüssy, Manolo Blahnik, Rick Owens, Manya Saini, Niket, Anil D'Silva Organizations: REUTERS, New York Stock Exchange, Hargreaves, Arm Holdings, Tema, Reuters Graphics, Running, Capital Advisors, Thomson Locations: Berlin, Germany, Langen, Bengaluru

REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsNEW YORK, Oct 10 (Reuters) - German premium footwear maker Birkenstock Holding (BIRK.N) priced its U.S. initial public offering (IPO) at the middle of its indicated price range at $46 per share, the company said on Tuesday. While shares of Arm and Klaviyo still trade above their IPO price, Instacart's stock is now worth less than its IPO value. Birkenstock was founded in 1774 in the German village of Langen-Bergheim by Johannes Birkenstock and his younger brother Johann Adam Birkenstock, who were both shoemakers. After the IPO, L Catterton will hold an 82.8% stake in Birkenstock and control a majority of the combined voting power of its outstanding shares. Birkenstock's shares will start trading on Wednesday on the New York Stock Exchange under the ticker "BIRK".

Persons: Fabrizio Bensch, Birkenstock, Johannes Birkenstock, Johann Adam Birkenstock, Barbie, Margot Robbie, Bernard Arnault, Louis Vuitton Moet Hennessy, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Anirban Sen, Echo Wang, Dimpal Gulwani, Lisa Shumaker Organizations: REUTERS, Birkenstock, underwriters, Arm Holdings, New York Stock Exchange, JPMorgan, Thomson Locations: Berlin, Germany, Langen, French, Birkenstock

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. Birkenstock is the latest high-profile listing to put investor focus on the initial public offering (IPO) market, which is gradually reopening after two relatively quiet years and a burst of activity in September. Due to recent price hikes, worldwide footwear sales are expected to rise just 2.9% over 2022, according to market research firm Euromonitor International. AllBirds (BIRD.O), Dr Martens (DOCS.L), and On Running (ONON.N) have all seen their market value fall since their IPOs in 2021. "When you look at the trend of other shoe companies that have IPO-ed, it doesn't give a great outlook for Birkenstock," Valechha said.

Persons: Fabrizio Bensch, Birkenstock, Kellogg, Mamta, Cheviot, Valechha, Johann Adam Birkenstock, Barbie, Margot Robbie, Jessica Ramirez, Jane Hali, Siobhan Gehin, Roland Berger, Thomas Hayes, sneaker, Dr Martens, Allbirds, Alexandre Arnault, LVMH, Bernard Arnault, Matt Oguz, Iris, L, Ananya Mariam Rajesh, Helen Reid, Emma, Victoria Farr, Echo Wang, Abigail Summerville, Deepa Babington Organizations: REUTERS, LVMH, New York Stock Exchange, Euromonitor, Associates, Dick's Sporting, Reuters, Partners, Norges Bank Investment Management, Thomson Locations: Berlin, Germany, New York, London, Neustadt, United States, U.S, Cannes, Silicon Valley

☆ Birkenstock walks tightrope with $11 bln price tag
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +2 min

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. REUTERS/Fabrizio Bensch Acquire Licensing RightsLONDON, Oct 2 (Reuters Breakingviews) - Birkenstock is taking a bold step forward. Fresh from publicity from the Barbie movie, the German sandals maker is targeting a valuation of up to $11 billion, including debt, in its New York stock listing next week. Hoping to build confidence among investors, owner L Catterton has secured the backing of anchor investors including Bernard Arnault’s investing vehicle Financière Agache and Norway’s wealth fund. At $44 to $49 per stock, the offer values the group’s equity between $8.3 billion and $9.2 billion.

Persons: Fabrizio Bensch, L Catterton, Bernard Arnault’s, Martens, Pamela Barbaglia, Lisa Jucca, Oliver Taslic 私, 「 Organizations: REUTERS, Reuters, Nike, 「 Reuters Locations: Berlin, Germany, New York

☆ More than a fifth of cars sold in EU in August were full EVs - ACEA
▼ + stars: | 2023-09-20 | by ( Nick Carey | ) www.reuters.com time to read: +1 min

Fully-electric models made up 21% of sales in the EU in August, the first time that they have made up more than one fifth of all sales, the ACEA said. In the first eight months of 2023, nearly 1 million fully-electric cars were sold in the EU. Overall, EU car sales were up 21% in August, which is typically a slower month for car sales, making it the thirteenth consecutive month of sales growth as the auto industry recovers from pandemic-related supply chain issues. Fully-electric car sales more than doubled to 165,165 units for the month from August 2022. Diesel vehicles comprised more than 50% of new car sales as recently as 2015.

Persons: Fabrizio Bensch, Nick Carey, Sharon Singleton Organizations: Factory, Volkswagen, REUTERS, European Union, European Automobile Manufacturers Association, EU, Diesel, Renault, Thomson Locations: Dresden, Germany

☆ Delivery Hero confirms talks on partial sale of Asian business
▼ + stars: | 2023-09-20 | by ( ) www.reuters.com time to read: +2 min

[1/2] Andreas Harte, a Foodora delivery cyclist poses in front of Delivery Hero headquarters in Berlin, Germany, June 2, 2017. Foodora is part of the Berlin-based company Delivery Hero, one of Europe's largest internet start-ups. REUTERS/Fabrizio Bensch Acquire Licensing RightsBERLIN, Sept 20 (Reuters) - Delivery Hero (DHER.DE) confirmed talks on a partial sale of its Asia business on Wednesday, adding that the deal's value is still under negotiation. Delivery Hero has been focusing on reaching profitability while maintaining growth as investor confidence in the company started to wane after a pandemic-driven boost. Grab makes most of its sales from its food delivery business and has recently seen strong growth in its ride-share business.

Persons: Andreas Harte, Foodora, Fabrizio Bensch, Niklas Oestberg, Rachel More, Andrey Sychev, Matthias Williams, Kirsten Donovan Organizations: REUTERS, Rights, Thomson Locations: Berlin, Germany, Asia, Singapore, Cambodia, Laos, Malaysia, Myanmar, Philippines, Thailand

☆ Birkenstock reveals 21% revenue jump in updated financials ahead of IPO
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsSept 15 (Reuters) - German premium footwear maker Birkenstock Holding's revenue jumped 21% in the nine months ended June 30, it said in updated paperwork for a U.S. stock market listing on Friday. The company, backed by private equity firm L Catterton, is one of a handful of high-profile firms gearing up for a stock market debut. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) grew 16% to 387 million euros in the same period. Goldman Sachs, J.P. Morgan and Morgan Stanley are among the underwriters for the IPO.

Persons: Fabrizio Bensch, Birkenstock, Barbie, Margot Robbie, Goldman Sachs, J.P, Morgan, Morgan Stanley, Niket, Krishna Chandra Organizations: REUTERS, SoftBank, Arm Holdings, underwriters, Thomson Locations: Berlin, Germany, U.S, Bengaluru

☆ Tesla plans to nearly double India component sourcing to $1.9 bln - minister
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

The company logo is pictured on a Tesla Model X electric car in Berlin, Germany, November 13, 2019. REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsCompanies Tesla Inc FollowNEW DELHI, Sept 13 (Reuters) - Tesla Inc (TSLA.O) plans to source components worth $1.7-$1.9 billion from India this year, the commerce minister said on Wednesday, amid plans by the electric vehicle maker to set up a factory in the country. "Tesla last year already bought $1 billion worth of components from India... this year their target is $1.7-$1.9 billion," Commerce Minister Piyush Goyal said at an auto conference. "I am convinced that this (EVs) is the future. Reporting by Aditi Shah, writing by Tanvi Mehta; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Fabrizio Bensch, Tesla, Piyush Goyal, Aditi Shah, Tanvi Mehta, Jason Neely Organizations: Tesla, REUTERS, Tesla Inc, Reuters, Thomson Locations: Berlin, Germany, DELHI, India

A diesel fuel nozzle is seen attached to a car at a Shell petrol station in Berlin, Germany October 22, 2018. REUTERS/Fabrizio Bensch/ Acquire Licensing RightsLONDON, Sept 13 (Reuters) - Global distillate fuel oil inventories remain much lower than normal for the time of year which is putting strong upward pressure on fuel prices. Initially, the upward pressure on distillate refining margins was masked by downward pressure on the underlying prices for crude oil. Since July, however, both crude prices and distillate refining margins have been rising, causing the total price of fuel to surge. Related columns:- U.S. diesel prices surge anticipating a soft landing (August 11, 2023)- Depleted U.S. diesel stocks attract hedge funds (July 20, 2023)- Global distillate stocks low despite industrial slowdown (June 13, 2023)John Kemp is a Reuters market analyst.

Persons: Fabrizio Bensch, John Kemp, Alexander Smith Organizations: Shell, REUTERS, OPEC ⁺, U.S, Thomson, Reuters Locations: Berlin, Germany, Singapore, New York, Saudi Arabia, Europe, North America, Russia, Ukraine, U.S, China

☆ Australian regulator sues PayPal unit over unfair term in small business contracts
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

The PayPal logo is seen at an office building in Berlin, Germany, March 5, 2019. The Australian Securities and Investments Commission (ASIC) said it has started proceedings against PayPal Australia Pty Ltd in a case that highlights a contract term that gives PayPal business account holders 60 days to notify discrepancies in fees charged. The regulator views the term as unfair as it authorises PayPal to retain fees it has inaccurately charged. "We allege this term is unfair because it allows PayPal to escape the consequences of its own errors in overcharging small businesses, and places additional burdens on small businesses to detect and correct charging errors," ASIC Deputy Chair Sarah Court said. As at June 30, there were about 608,275 business account contracts between PayPal and active users in the country.

Persons: Fabrizio Bensch, Sarah Court, Roushni Nair, Poonam Behura, Shailesh Organizations: PayPal, REUTERS, Australian Securities and Investments Commission, PayPal Australia, Reuters, Thomson Locations: Berlin, Germany, Bengaluru

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