DIRS.INFO The most relevant business & tech news

☆ Lufthansa Strike Hits Air Travel as German Disruption Mounts
▼ + stars: | 2024-02-07 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

BERLIN (Reuters) - Ground staff at German airline Lufthansa walked out at major airports on Wednesday, raising the pressure in wage talks and piling misery on travellers in Europe's biggest economy already hit by strikes on railways and public transport. The Verdi union has targeted the Frankfurt and Munich airports, where Lufthansa says only 10%-20% of flights will operate, as well as Berlin, Hamburg and Duesseldorf. Verdi wants a wage rise of 12.5% for some 25,000 workers, or at least 500 euros ($537.00) more per month over a 12-month-period, plus a one-time payment of 3,000 euros to offset inflation. A wave of nationwide industrial action in the last few weeks has hit air travel, railways and public transport, inflicting pain on the economy and fuelling discontent with German Chancellor Olaf Scholz's awkward three-way coalition. ($1 = 0.9311 euros)(Writing by Madeline Chambers; Editing by Miranda Murray)

Persons: Verdi, Duesseldorf, Olaf Scholz's, Madeline Chambers, Miranda Murray Organizations: BERLIN, Lufthansa, Frankfurt Locations: Europe's, Munich, Berlin, Hamburg

☆ Germany Can Cut Funding to Far-Right Party, Rules Court
▼ + stars: | 2024-01-23 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

KARLSRUHE, Germany (Reuters) - Germany can cut off state funding to the successor party to the far-right NPD even though it is not banned, the Constitutional Court said on Tuesday in a landmark ruling which adds fuel to a debate about whether the nationalist AfD could be penalised. The court in Karlsruhe justified its decision by saying the National Democratic Party (NPD) and its successor, Die Heimat, aimed to impair or eliminate the country's democratic system. The ruling is being closely watched as mainstream politicians struggle to respond to a surge in support for the far-right Alternative for Germany (AfD), second in most polls with support of about 22%. Hundreds of thousands of people have taken to the streets across Germany protesting against the AfD after a report that some party members discussed policies such as mass deportations of people of foreign origin at a meeting of right-wing radicals. (Reporting by Ursula Knapp; Writing by Madeline Chambers; Editing by Kirsti Knolle)

Persons: Ursula Knapp, Madeline Chambers, Kirsti Knolle Organizations: Constitutional, National Democratic Party, NPD Locations: KARLSRUHE, Germany, Karlsruhe, Bundestag

☆ Bitcoin Group: taking steps against money-laundering, terrorist financing
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. REUTERS/Marco Bello/File Photo Acquire Licensing RightsBERLIN, Nov 29 (Reuters) - Germany's Bitcoin Group (ADE.DE) said on Wednesday it was taking measures to improve its internal control system, after the financial regulator BaFin ordered its subsidiary futurum bank to remedy shortcomings on money-laundering and terrorist financing. "The Bitcoin Group expressly points out that there are currently no indications of violations of money laundering and terrorist financing laws within the Group," the company said in a statement. On Tuesday, BaFin identified "severe deficits" at futurum bank involving its internal security measures, its fulfillment of due diligence obligations and its system for reporting suspicious activity. "We are actively working with BaFin to quickly address the criticized weaknesses in our internal processes, which have not kept pace with the company's growth in recent years," Bitcoin Group Chief Executive Marco Bodewein said in the statement.

Persons: Marco Bello, BaFin, Marco Bodewein, Rachel More, Madeline Chambers, Miranda Murray Organizations: REUTERS, Rights, Thomson Locations: Miami Beach , Florida, U.S, futurum

A view of the sign of Signa Holding on their headquarters in Vienna, Austria, November 6, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsVIENNA/FRANKFURT, Nov 29 (Reuters) - Property and retail giant Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, the biggest casualty so far of Europe's property crash. Signa blamed its problems on external factors affecting its property business and pressure on high-street shopping. Fuelled by low interest rates, billions were funneled into property, which was viewed as stable and safe. Weakness in commercial real estate in the United States as offices remain empty after the pandemic and the struggles of major property developers in China have focused global attention on the sector.

Persons: Leonhard Foeger, Rene Benko, Signa, Switzerland's Julius Baer, Hannes Moesenbacher, Matthias Inverardi, Rachel More, Madeline Chambers, Catherine Evans Organizations: Signa, REUTERS, Rights, Chrysler, Austria's Raiffeisen Bank, Thomson Locations: Vienna, Austria, FRANKFURT, Germany, Switzerland, Hamburg, Bavaria, Hesse, Europe's, United States, China

☆ Pressure mounts on German government to find way out of budget hole
▼ + stars: | 2023-11-22 | by ( Holger Hansen | ) www.reuters.com time to read: +4 min

The court ruled the budget manoeuvre was incompatible with the debt restrictions enshrined in Germany's constitution. The pressure is even more intense as talks for next year's budget are on the final stretch. Highlighting the gravity of the situation, the government has already imposed a freeze on most new spending commitments on ministries. "German industry is looking at the current political situation with the greatest concern," said Siegfried Russwurm, president of the BDI industry association. One obstacle to reforming the debt brake, which restricts Germany's structural budget deficit to the equivalent of 0.35% of gross domestic product, has been Finance Minister Christian Lindner.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Chancellor Olaf Scholz's, Siegfried Russwurm, Holger Hansen, Christian Kraemer, Andreas Rinke, Madeline Chambers, Miranda Murray, Alex Richardson Organizations: Finance, Climate, Europe's, Social Democrat, Greens, Free Democrats, Fund, Reuters, Ukraine, Greens Economy, U.S, Intel, European, Thomson Locations: BERLIN, reallocating, Berlin, Ukraine

☆ German court ruling could cost Intel billions of euros in subsidies - state minister
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO: A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing RightsBERLIN, Nov 22 (Reuters) - The negative court ruling on German finances last week could cost Intel billions of euros in subsidies for planned chip-making plants in the state of Saxony-Anhalt, the state economy minister was quoted as saying by magazine WirtschaftsWoche. Berlin had agreed subsidies worth nearly 10 billion euros with the U.S. chipmaker, a person familiar with the matter had told Reuters when Intel announced its plans. "When Germany cannot afford such future projects like Intel anymore, then the economic damage will be enormous and the image damage gigantic," Sven Schulze, economy minister of Saxony-Anhalt was quoted as saying. Reporting by Matthias Williams; Writing by Sarah Marsh; Editing by Madeline ChambersOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Sven Schulze, Matthias Williams, Sarah Marsh, Madeline Chambers Organizations: REUTERS, Rights, U.S, Reuters, Intel, Thomson Locations: Saxony, Anhalt, Berlin, Germany

Their options include drawing up a supplementary budget for 2023 and suspending Germany's self-imposed debt brake before reinstating it for next year. "Our goal is to discuss the budget quickly but with due care," said a joint statement of ruling party lawmakers. The delay has heightened uncertainty about spending in all areas of the German economy and meant the 2024 budget might not be concluded before the end of the year. "I firmly assume that the commitments for Intel and TSMC will remain," a government source said, adding: "This is very important to the chancellor, as well as to the economy minister." This will happen in the course of next early 2024 and we will see how far hydrogen is available," CEO Miguel Lopez said.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Olaf Scholz's, Scholz's, Siegfried Russwurm, TSMC, Scholz, Miguel Lopez, Holger Hansen, Christian Kraemer, Victoria Waldersee, Andreas Rinke, Madeline Chambers, Matthias Williams, Miranda Murray, Alex Richardson, Christina Fincher Organizations: Finance, Climate, Government, Ukraine Industry, Intel, TSMC, Wednesday, Social Democrat, Greens, Free Democrats, Fund, Eurasia Group, U.S, BMW, Volkswagen, Thomson Locations: TSMC BERLIN, Germany's, Ukraine, EU, Saxony, Anhalt, Berlin, Germany

Miniatures of windmill and electric pole are seen in front of Siemens Gamesa logo in this illustration taken January 17, 2023. One Frankfurt-based trader said the investor event, where Siemens Gamesa disclosed around 400 million euros in cost cuts by 2026, was bringing "no new insights". At 1610 GMT, shares in Siemens Energy, in which Siemens AG (SIEGn.DE) owns a direct 25.1% stake, were still down 6.3%. Siemens Gamesa will likely cut onshore turbine capacity outside Europe and outsource the production of some components, the division's Chief Executive Jochen Eickholt said, outlining the group's restructuring roadmap. Reuters last month reported that Siemens Gamesa was considering shutting plants and sales offices as well as outsourcing some production.

Persons: Dado Ruvic, Siemens Gamesa, Christian Bruch, Jochen Eickholt, Eickholt, Christoph Steitz, Tom Kaeckenhoff, Danilo Masoni, Madeline Chambers, Miranda Murray, David Evans Organizations: Siemens, REUTERS, Siemens Energy, Siemens Gamesa, Siemens AG, Reuters, Thomson Locations: Europe, FRANKFURT, DUESSELDORF, Frankfurt

☆ Exclusive: German court ruling could hit growth next year - econ ministry source
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 17 (Reuters) - A German court ruling that forced Berlin to freeze 60 billion euros ($65 billion) in planned green investment spending could have a negative impact on growth in Europe's biggest economy, an economy ministry source told Reuters on Friday. "According to initial rough estimates, a loss of investment funds could cause growth in 2024 to be about half a percentage point lower," the source, who is familiar with the economy ministry's forecasts, said. "So the ruling could have a negative impact on economic growth," the source added. Last month, the economy ministry predicted 1.3% growth for next year. The economy ministry is run by the Greens, who share power with Scholz's Social Democrats (SPD) and the pro-business Free Democrats (FDP).

Persons: Chancellor Olaf Scholz's, Christian Lindner, Andreas Rinke, Miranda Murray, Madeline Chambers, Sabine Wollrab Organizations: Greens, Scholz's Social Democrats, Free Democrats, Thomson Locations: Berlin, Europe's

☆ WHO voices concern over spread of disease in Gaza
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

"We are extremely concerned about the spread of disease when the winter season arrives," said Richard Peeperkorn, WHO Representative in the Occupied Palestinian Territory. WHO has previously warned of "worrying trends" in the spread of disease in Gaza, where bombardments and a ground offensive have disrupted the health system, access to clean water and caused people to crowd into shelters. The start of the rainy season and the possibility of flooding has also increased fears that the densely populated enclave's sewage system will be overwhelmed and disease will spread. The absence of fuel already has forced the shutdown of sewage pumping stations and desalination plants, increasing the risk of water contamination and the outbreak of disease. "Overcrowding is leading to the spread of disease, including acute respiratory illness and diarrhea, raising environmental and health concerns," OCHA warned.

Persons: Abu Mustafa, Richard Peeperkorn, OCHA, Gabrielle Tétrault, Farber, Madeline Chambers, Hugh Lawson Organizations: Hamas, REUTERS, Rights, World Health Organization, WHO, United Nations Office, Humanitarian Affairs, UNRWA, Thomson Locations: Gaza, Israel, Palestinian

The economy and finance ministry declined immediate comment. "So the ruling could have a negative impact on economic growth," the source added. Last month, the economy ministry predicted 1.3% growth for next year. Although the Greens want additional spending, the Free Democrats (FDP), which heads the finance ministry, reject additional debt and higher taxes. "There is a clear political decision in favour of Intel and nothing has changed yet," said an economy ministry spokesperson on Friday.

Persons: Liesa, Olaf Scholz's, Christian Lindner, Chancellor Olaf Scholz's, Joerg Kraemer, Robert Habeck, Habeck, Friedrich Merz, Christian Haase, Commerzbank's Kraemer, Maria Martinez, Andreas Rinke, Holger Hansen, Christian Kraemer, Madeline Chambers, Matthias Williams, Clarence Fernandez, Gerry Doyle, David Evans Organizations: REUTERS, Rights, Thursday, Greens, Free Democrats, Transformation, Intel, U.S, Christian Democratic Union, ESF, Economic, Stabilization, Thomson Locations: Berlin, Germany, Europe's

☆ Eli Lilly plans to invest 2 bln euros in new German plant -source
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. REUTERS/Mike Segar/File Photo Acquire Licensing RightsCompanies Eli Lilly and Co FollowBERLIN, Nov 16 (Reuters) - U.S. pharma company Eli Lilly (LLY.N) plans to invest 2 billion euros ($2.17 billion) in a new plant in Alzey, western Germany, a source close to the negotiations told Reuters on Thursday. Separately, people familiar with the plans told Reuters that at least 1,000 jobs would be created. Reuters had reported on Wednesday that the pharma group intended to invest in Germany after Eli Lilly called a news conference for Friday but few details were available. ($1 = 0.9217 euros)Reporting by Andreas Rinke and Rene Wagner Writing by Madeline Chambers Editing by Kirsti Knolle and Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Eli Lilly, Mike Segar, Andreas Rinke, Rene Wagner, Madeline Chambers, Kirsti Knolle, Miranda Murray Organizations: Company, REUTERS, . pharma, Reuters, pharma, Thomson Locations: Branchburg , New Jersey, Alzey, Germany

☆ German police raid Iran-linked centre over suspected Hezbollah support
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

[1/2] German police officers walk towards the Islamic Center Hamburg, during a raid, due to suspicion of members acting against a constitutional order and supporting the militant group Hezbollah in Hamburg, Germany, November 16, 2023. REUTERS/Fabian Bimmer Acquire Licensing RightsBERLIN, Nov 16 (Reuters) - German police conducted raids early on Thursday in seven states over the Islamic Centre of Hamburg's suspected support for the militant group Hezbollah, the interior ministry said. "I want to make clear that we are acting against Islamists, not against a religion or another state," said German Interior Minister Nancy Faeser. In Hamburg alone, 300 officers conducted 31 searches in connection with the centre, the city's interior senator said. "The suspicions against the Islamic Centre of Hamburg are serious," and it has long been monitored by the domestic intelligence agency for Islamist activities, said Faeser.

Persons: Fabian Bimmer, Nancy Faeser, Linda Pasquini, Miranda Murray, Madeline Chambers, Edmund Klamann Organizations: Islamic Center, Hezbollah, REUTERS, Rights, Islamic, Authorities, of, Lebanese, Thomson Locations: Islamic Center Hamburg, Hamburg, Germany, Israel, Gaza, Iran, of Hamburg

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. The company declined to comment on the plans but news conferences are planned in Alzey, where sources say the plant will be built, and Berlin on Friday. Other people familiar with the plans told Reuters that at least 1,000 jobs would be created. Eli Lilly said it would unveil "far-reaching investment plans" at Friday's news conference, which will be attended by Germany's economy and health ministers. Mounjaro's success helped Lilly post a 37% gain in third-quarter revenues to $9.5 billion, topping Wall Street estimates.

Persons: Eli Lilly, Mike Segar, Mounjaro, TSMC, Lilly's, Lilly, Rene Wagner, Klaus Lauer, Andreas Rinke, Ludwig Burger, Thomas Escritt, Madeline Chambers, Miranda Murray, Christina Fincher Organizations: Company, REUTERS, Basf, Reuters, BASF, U.S ., U.S, Intel, European Union, Novo Nordisk, U.S . Food, Drug Administration, Thomson Locations: Branchburg , New Jersey, BERLIN, Germany, Alzey, Berlin, U.S, Ukraine, European, Indianapolis, Danish, Eisai

[1/3] FILE PHOTO: German Chancellor Olaf Scholz looks on as he meets NATO's Secretary General Jens Stoltenberg in Berlin, Germany, November 9, 2023. Wednesday's decision by the constitutional court could also set a precedent for fiscal responses to future crises. "FAR-REACHING CONSEQUENCES""The court ruling has far-reaching consequences for fiscal policy in Germany," said Clemens Fuest, President of the Ifo economic institute. This was done with the Second Supplementary Budget Act 2021, which retroactively amended the Budget Act for 2021. The constitutional court ruled that this act was incompatible with Germany's Basic Law and so was void.

Persons: Olaf Scholz, Jens Stoltenberg, Liesa, Chancellor Olaf Scholz's, Christian Lindner, Lindner, Scholz, Robert Habeck, Clemens Fuest, Ralph Solveen, Habeck, Friedrich Merz, Maria Martinez, Christian Kraemer, Ursula Knapp, Matthias Williams, Kirsti Knolle, Madeline Chambers, Susan Fenton, William Maclean, Catherine Evans Organizations: REUTERS, Rights, Finance, Union, Social Democrats, Free Democrats, Christian Democratic Union, Thomson Locations: Berlin, Germany, Ukraine

☆ German union calls for strike at Deutsche Bank's DB Direkt over wages
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: 1 min

Companies Deutsche Bank AG FollowBERLIN, Nov 14 (Reuters) - Germany's Verdi union has called on workers at Deutsche Bank's DB Direkt GmbH subsidiary to go on a one day strike on Wednesday, it said, raising pressure in wage talks. "Employers left the first round of negotiations without an offer. This is an affront to the workers, who are suffering from persistent high prices in light of low wages," said Jan Duscheck, head of Verdi's banking group said in a statement. Writing by Madeline Chambers; editing by Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Verdi, Jan Duscheck, Madeline Chambers, Matthias Williams Organizations: Deutsche Bank, BERLIN, Deutsche Bank's DB Direkt, Employers, Thomson

☆ German government supports Siemens Energy with $8 bln guarantees
▼ + stars: | 2023-11-14 | by ( Christian Kraemer | ) www.reuters.com time to read: +3 min

Miniatures of windmill, solar panel and electric pole are seen in front of Siemens Energy logo in this illustration taken January 17, 2023. Private banks were expected to provide Siemens Energy with guarantees worth 12 billion euros while Siemens Energy would seek another 3 billion from other sources, the statement said, adding it was conditional on the final sign-off of all parties. "We are pleased with the German government's clear support for Siemens Energy and the commitment to the rapid implementation of projects to make the energy transition a success," Siemens Energy said in a statement. Shares in Siemens AG rose 2.7% at 1517 GMT on the deal while Siemens Energy shares were up 0.3%. Siemens AG, which spun off Siemens Energy in 2020, is also expected to provide support by buying most of the 24% stake Siemens Energy owns in Siemens Ltd (SIEM.NS), an Indian joint venture, sources have told Reuters.

Persons: Dado, Marco Buschmann, Buschmann, Christian Kraemer, Alexander Hübner, Christoph Steitz, Linda Pasquini, Madeline Chambers, Matthias Williams, Kirsti Knolle, David Evans Organizations: Siemens Energy, REUTERS, Rights, Siemens AG, Reuters, Siemens Ltd, Siemens, RTL, ntv, Thomson Locations: Indian

☆ Mercedes to extend CEO Kaellenius' contract - source
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: 1 min

BERLIN, July 6 (Reuters) - Mercedes-Benz wants to extend Chief Executive Ola Kaellenius' contract, a source with knowledge of the matter told Reuters on Thursday, confirming a report in the Handelsblatt business daily. The person said no surprises were expected on the question of another term for Kaellenius, which would keep the 54-year-old at the helm of the German carmaker until at least mid-2029. Kaellenius' contract is currently set to expire in May 2024. Handelsblatt reported that a supervisory board decision was expected on the matter this summer. Reporting by Ilona Wissenbach; writing by Miranda Murray and Rachel More; editing by Sabine Wollrab, Matthias Williams, Madeline ChambersOur Standards: The Thomson Reuters Trust Principles.

Persons: Ola Kaellenius, Kaellenius, Handelsblatt, Ilona Wissenbach, Miranda Murray, Rachel More, Sabine Wollrab, Matthias Williams, Madeline Chambers Organizations: Benz, Reuters, Thomson Locations: BERLIN

☆ German industry urges reduced dependency after China export controls
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +2 min

The Chinese export restrictions "illustrate the urgency for Europe and Germany to quickly reduce their dependency on critical raw materials now," said Wolfgang Niedermark, a member of the BDI German industrial association. In a position paper, the group said that Germany's and Europe's dependency on mineral raw materials such as rare earths from China was "already greater than that of oil and natural gas from Russia". Another German industry group, Bitkom, called for steps to massively increase Germany and Europe's digital sovereignty . Last week, European Union member states adopted the Critical Raw Materials Act, a centrepiece of the EU strategy to ensure industry can compete with the United States and China. The BDI's Niedermark said that agreement to recycle and process raw materials sent an important signal but called for a similar push to establish domestic mining in Europe.

Persons: Wolfgang Niedermark, Bernhard Rohleder, Niedermark, Rachel More, Hakan Ersen, Madeline Chambers, Miranda Murray, Emelia Organizations: Union, Thomson Locations: BERLIN, Europe, China, Germany, Russia, Berlin, Ukraine, Beijing, United States

☆ Police search Cologne archdiocese in abuse perjury investigation
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

[1/3] The doorbell of Cologne's Archbishop Rainer Maria Woelki is pictured in Cologne, Germany June 27, 2023. REUTERS/Andreas KranzBERLIN, June 27 (Reuters) - German police searched properties belonging to the Archdiocese of Cologne on Tuesday as part of a perjury investigation against Cologne Archbishop Rainer Maria Woelki linked to his handling of historic abuse cases, prosecutors said. The archbisopric said at the time the attempt to accuse Woelki of perjury was unfounded. Prosecutors in Cologne said some 30 police officers were involved in searches in six locations, four of which were in Cologne and included rooms in the archbishop's residence. The allegations concern abuse by priest Winfried Pilz who had run a Catholic children's charity and died in 2019.

Persons: Rainer Maria Woelki, Andreas Kranz BERLIN, perjured, Woelki, Cardinal Woelki, Ralf Hoecker, Winfried Pilz, Pope, Friederike Heine, Madeline Chambers, Maria Sheahan, Ed Osmond, Alison Williams Organizations: REUTERS, Archdiocese, Cologne, Germany's Catholic, Catholic Church, Prosecutors, Catholic, WDR, Reuters Television, Thomson Locations: Cologne, Germany, Germany's, Rome

☆ Germany's far-right AfD wins vote to lead district for first time
▼ + stars: | 2023-06-25 | by ( ) www.reuters.com time to read: +2 min

BERLIN, June 25 (Reuters) - A far-right Alternative for Germany (AfD) candidate won a vote on Sunday to become a district leader in Europe's biggest economy for the first time, a breakthrough for the party which has hit record highs in national polls. The 10-year old AfD, with which Germany's mainstream parties officially refuse to cooperate due to its radical views, won a run-off vote in the Sonneberg district in the eastern state of Thuringia with its candidate garnering 52.8% of the vote. While far-right parties have gained ground around Europe, the strength of the AfD is particularly sensitive in Germany due to the country's Nazi past. The conservative candidate won 47.2% on Sunday. The domestic intelligence agency said this month that far-right extremism posed the biggest threat to democracy in Germany and warned voters about backing the AfD.

Persons: Chancellor Olaf Scholz's, Josef Schuster, Robert Sesselmann, Sonneberg, Sesselmann, Madeline Chambers, Chizu Organizations: Social, Greens and Free Democrats, Central Council of, Communist, Moscow, Thomson Locations: BERLIN, Germany, Europe's, Sonneberg, Thuringia, Europe, Nazi, Berlin, Ukraine

FRANKFURT, June 22 (Reuters) - Deutsche Bank (DBKGn.DE) is drawing up plans to cut 10% of its 17,000 German retail jobs over the next few years as part of cost savings, a person with knowledge of the matter said on Thursday. The plans at Germany's largest bank come as Claudio de Sanctis prepares to take over the retail unit, known as the private bank division, on July 1. Deutsche Bank, which declined to comment on any cuts to retail jobs, has publicly said that it is identifying further cost savings and would be trimming jobs in certain areas to keep profits growing. The bank has been expected to continue to cut branches to curb expenses, Reuters has previously reported. S&P last month upgraded its outlook for the bank and said that the retail division has "considerable scope" to cut costs.

Persons: Claudio de Sanctis, Tom Sims, Matthias Williams, Madeline Chambers, Susan Fenton Organizations: Deutsche Bank, Deutsche, Reuters, Thomson Locations: FRANKFURT, Germany's, Germany

☆ Germany to offer aid only to strategic sectors after Intel subsidy -minister
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

BERLIN, June 21 (Reuters) - Germany will promote specific projects in strategic industries after agreeing subsidies worth nearly 10 billion euros with Intel this week as the U.S. chipmaker said it would invest $33 billion in Germany, a minister said on Wednesday. "There will be no funding for everyone, but only for selected projects," said Economy Minister Robert Habeck of the Greens party which shares power with Scholz's Social Democrats and the FDP Free Democrats. "They will be everywhere in future," he said at an event in Berlin, adding that the Intel subsidies were therefore an investment in economic security. Other sectors being closely watched by the government included medicine, telecommunications, energy, logistics and transport, food and security services, he said. The economy ministry said earlier that the European Commission has yet to approve Berlin's subsidy plans for Intel.

Persons: chipmaker, Chancellor Olaf Scholz, Robert Habeck, Habeck, Christian Kraemer, Madeline Chambers, Kirsten Donovan Organizations: Intel, Greens, Scholz's Social Democrats, FDP Free Democrats, European Commission, Thomson Locations: BERLIN, Germany, Magdeburg, Berlin

☆ Audi chief sets sights on China in electric car catch-up
▼ + stars: | 2023-06-15 | by ( Cristina Amann | ) www.reuters.com time to read: +3 min

"And we are also looking more intensively at how this is done in China," Duesmann said. "In 2030, the BEV share of the premium car market should already be between 60 and 70%, depending on the region," Duesmann said. That shift could happen even sooner in China, but Audi's sales performance in the world's biggest car market has fallen short of expectations. The new Q6 e-tron has been delayed by behind-schedule software development. Hoping to offset any disappointment in China, Duesmann said the carmaker wanted to strengthen its business in North America, tapping into a strong U.S. car market and Washington's generous subsidies programme.

Persons: Markus Duesmann, Duesmann, BEV, Christina Amann, Rachel More, Madeline Chambers, Mark Potter Organizations: Audi, Reuters, Volkswagen, BMW, Mercedes, Benz, VW, Thomson Locations: INGOLSTADT, Germany, China, North America, U.S, Mexico, Tennessee

☆ Tourist dies after attack near Germany's Neuschwanstein Castle
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

BERLIN, June 15 (Reuters) - One of two female tourists attacked by an American man near the world-famous Neuschwanstein Castle in southern Germany has died, German police said on Thursday. "According to the current state of knowledge, an attempted sexual offence to the detriment of the 21-year-old must be assumed," said police in a statement in English. The 21-year-old was also pushed down the slope, where she came to rest after falling nearly 50 metres, they added. Neuschwanstein Castle, about 105 km (65 miles) south-west of Munich, is one of the most popular destinations in Europe. According the castle's website, about 1.4 million people visit the castle annually, and in the summer months the castle counts more than 6,000 visitors on average daily.

Persons: Miranda Murray, Madeline Chambers, Conor Humphries, Alex Richardson Organizations: Thomson Locations: BERLIN, American, Germany, Neuschwanstein, Munich, Europe

Search resuls for: "Madeline Chambers"

25 mentions found