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☆ Pro-Palestinian Groups File Legal Action Against German Politician Over Gaza War
▼ + stars: | 2024-02-16 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

By Riham AlkousaaBERLIN (Reuters) - Pro-Palestinian activists have filed criminal charges against a German politician for suspected incitement of hate and denial of war crimes in Israel's war in Gaza, they said on Friday. War in Israel and Gaza View All 209 ImagesThe charges against Volker Beck, a former member of parliament and the head of the German-Israeli Society, were brought by Palestinian solidarity groups Palestine Speaks and Jewish Voice for Just Peace in the Middle East. "This is the first step in holding public figures who publicly make genocidal statements legally accountable," the group wrote on its Instagram. "There is no genocide in Gaza and I do not advocate genocide," he told Reuters, adding that he had filed complaints against the groups for defamation. "These people have a disturbed relationship with the rule of law if they believe that many complaints lead to more investigations."

Persons: Alkousaa, Volker Beck, Beck, Riham Alkousaa, Rachel More, Nick Macfie Organizations: Israeli Society, Palestine, Jewish, Reuters, Court Locations: Alkousaa BERLIN, German, Gaza, Israel, Palestinian, Germany, Berlin, South Africa

☆ Germany Silent on Putin's Call to Free Russian Hitman
▼ + stars: | 2024-02-09 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

By Rene Wagner and Thomas EscrittBERLIN (Reuters) - Germany declined to be drawn on Friday on whether talks were underway on swapping a Russian state hitman serving a life sentence in a German prison for detained U.S. journalist Evan Gershkovich, an idea floated by Russian President Vladimir Putin. "I can't say anything on that," deputy government spokeswoman Christiane Hoffmann said when asked if Russia was seeking such an exchange. "I don't want to address this concrete case, please," she added when asked if Germany was in touch with the United States on the matter. People in the entourage of Chancellor Olaf Scholz, who is visiting Washington for talks with President Joe Biden, also declined to comment. (Additional reporting by Andreas Rinke in Washington, writing by Thomas Escritt, editing by Rachel More and Angus MacSwan)

Persons: Rene Wagner, Thomas Escritt BERLIN, Evan Gershkovich, Vladimir Putin, Gershkovich, Christiane Hoffmann, Olaf Scholz, Joe Biden, Putin, Vadim Krasikov, Kai Cornelius, Andreas Rinke, Thomas Escritt, Rachel More, Angus MacSwan Organizations: U.S, Wall, Hamburg University Locations: Germany, Russian, Russia, United States, Washington, Berlin, Chechen, Georgia, Moscow

☆ UNICEF Says Nearly All Gaza's Children Require Mental Health Support
▼ + stars: | 2024-02-02 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

GENEVA (Reuters) - UNICEF said on Friday it estimated that 17,000 children in Gaza were unaccompanied or have been separated from their families during the conflict, and that nearly all children in the enclave were thought to require mental health support. "They present symptoms like extremely high levels of persistent anxiety, loss of appetite. "Before this war, UNICEF was considering already that 500,000 children were already in need of mental health and psychosocial support in Gaza. Today, we estimate that almost all children are in need of that support, and that's more than 1 million children." (Reporting by Gabrielle Tétrault-Farber; Editing by Rachel More)War in Israel and Gaza View All 194 Images

Persons: Jonathan Crickx, Gabrielle Tétrault, Farber, Rachel More Organizations: UNICEF Locations: GENEVA, Gaza, Palestinian Territories, Israel

☆ Germany Attractive for Skilled Workers Despite Discrimination - OECD
▼ + stars: | 2024-01-31 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Germany is still an attractive destination for skilled workers from abroad, although migrants report racism and discrimination in everyday life, the Organisation for Economic Cooperation and Development (OECD) said on Wednesday. Having tracked the careers of 30,000 highly qualified people who wanted to come to Germany as migrant workers since August 2022, their willingness to move to the country had increased rather than decreased over the time, the OECD said. Some 92% of participants in its poll lived abroad and were still interested in moving to Germany, it added. However, people who had already moved to Germany reported more discrimination than expected before the move. "Experiences of discrimination are reported, especially when looking for accommodation and in public," the OECD's Thomas Liebig said.

Persons: Thomas Liebig, Holger Hansen, Bartosz Dabrowski, Rachel More Organizations: Reuters, Organisation for Economic Cooperation, Development, OECD Locations: Germany

☆ Security Staff Strike Planned at German Airports on Thursday - Ntv
▼ + stars: | 2024-01-30 | by ( Jan. | At A.M. | ) www.usnews.com time to read: 1 min

BERLIN (Reuters) - Germany's Verdi union plans a nationwide strike of airport security workers on Thursday, the ntv broadcaster and other media reported on Tuesday. Sources in the aviation industry said the strike would take place. Germany has grown increasingly accustomed to strikes impacting air and rail travel as workers demand higher wages to cope with the impact of inflation. Verdi plans a separate public transport strike for Friday across 15 of Germany's 16 states. (Reporting by Klaus Lauer; writing by Rachel More; editing by Matthias Williams)

Persons: Verdi, Klaus Lauer, Rachel More, Matthias Williams Organizations: BERLIN, ntv, Reuters Locations: Germany

☆ EU's Centre-Right Expects to Nominate Von Der Leyen for Second Term - EPP's Caspary
▼ + stars: | 2024-01-26 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

BERLIN (Reuters) - The European Union's main centre-right alliance will nominate Ursula von der Leyen for a second term as European Commission president at a congress in March if she wants to continue in the post, a senior EU lawmaker told Reuters. Von der Leyen, a German Christian Democrat, has not yet said publicly whether she wants a second stint at the helm of the EU executive after her current term expires later this year. "The EPP will nominate Ursula von der Leyen as its lead candidate for the European elections at its European Congress on March 6 and 7," Caspary said, adding, "If that's what she wants." Being nominated as the EPP's lead candidate would mean von der Leyen would also be its nominee for Commission president. Caspary's comments add strength to the widespread assumption among diplomats and officials in Brussels that von der Leyen will seek and receive a second term as Commission president.

Persons: Ursula von der Leyen, Von der, Daniel Caspary, Caspary, Leyen, der Leyen, Andreas Rinke, Andrew Gray, Nette Nöstlinger, Rachel More Organizations: BERLIN, Reuters, Christian Democrat, European People's Party, EPP Locations: Brussels

☆ German Train Drivers Ramp up Pressure With Longest Strike Yet
▼ + stars: | 2024-01-24 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

BERLIN (Reuters) - German train drivers walked off the job again on Wednesday in what is set to be Germany's longest-ever rail strike, spelling more headaches for commuters with scant signs of a return to the negotiating table on the horizon. A spokesperson for the national rail operator spoke of renewed "massive restrictions" across the country. That is the only way," the spokesperson told reporters, pointing to the six-day strike's "massive impact on the economy". Drivers in rail freight are holding a simultaneous strike. "We have to strike longer and harder because the railway management is resistant to advice," he said.

Persons: Claus Weselsky, didn't, Rachel More Organizations: BERLIN, Deutsche Bahn, ARD, Deutsche

"The situation is getting worse by the hour," Richard Peeperkorn, WHO representative in Gaza, told reporters via video link. "There's intensified bombing going on all around, including here in the southern areas, Khan Younis and even in Rafah." Thomas White, Director of Affairs at the U.N. Palestinian agency in Gaza, said a population of more than 600,000 had been ordered to move to escape bombardment. The WHO's Peeperkorn said the agency had complied with an Israeli order to remove supplies from warehouses in Khan Younis. Reporting by Emma Farge and Gabrielle Tétraut-Farber; Editing by Rachel More and Janet LawrenceOur Standards: The Thomson Reuters Trust Principles.

Persons: Fadi Shana, Khan Younis, Richard Peeperkorn, There's, Peeperkorn, Thomas White, White, James Elder, I've, Tedros Adhanom Ghebreyesus, Israel, Emma Farge, Gabrielle Tétraut, Farber, Rachel More, Janet Lawrence Organizations: Hamas, REUTERS, WHO, Health Organization, United Nations, UNICEF, Thomson Locations: Israel, Palestinian, Rafah, Gaza, GENEVA, ., Cairo, Khan

The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland January 30, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsZURICH, Dec 4 (Reuters) - Roche (ROG.S) agreed to take over obesity drug developer Carmot Therapeutics (CRMO.O) for $2.7 billion, joining a list global contestants seeking to challenge the dominant makers of weight-loss drugs Novo Nordisk (NOVOb.CO) and Eli Lilly. After encouraging Phase I trial results, the drug is ready to be tested on humans in the second of three trial stages, Roche added. Among recent deals to acquire obesity drug development projects, AstraZeneca (AZN.L) last month agreed to pay up to $2 billion for the rights to an experimental pill from China's Eccogene. Roche will obtain access to Carmot's current R&D portfolio including all clinical and preclinical assets.

Persons: drugmaker Roche, Arnd, ROG.S, Eli Lilly, Swiss drugmaker, Roche, . New Roche, Thomas Schinecker, Ludwig Burger, Noel Illien, Rachel More, Louise Heavens Organizations: REUTERS, Rights, Carmot Therapeutics, Novo Nordisk, AstraZeneca, Pfizer, Thomson Locations: Basel, Switzerland, Swiss, ., Alzheimer's

☆ Germany to extend border controls with Poland, Czech Republic, Switzerland
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +1 min

Police patrol at a highway near the German-Polish border to prevent illegal migration near Bademeusel, Germany September 20, 2023. REUTERS/Lisi Niesner Acquire Licensing RightsBERLIN, Dec 4 (Reuters) - Germany plans to extend its border controls with Poland, the Czech Republic and Switzerland to stem a migration surge and combat people-smuggling until Dec. 15, a spokesperson for the interior ministry said on Monday. Berlin will notify the European Commission of the extension, the spokesperson told a regular news conference in Berlin. Germany announced the stricter controls on its land borders with Poland, the Czech Republic and Switzerland in response to a sharp increase of first-time asylum requests this year. Reporting by Rachel More; editing by Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Lisi Niesner, Rachel More, Matthias Williams Organizations: REUTERS, Rights, European Commission, Thomson Locations: Bademeusel, Germany, Poland, Czech Republic, Switzerland, Berlin, Polish

☆ Germany to Extend Border Controls With Poland, Czech Republic, Switzerland
▼ + stars: | 2023-12-04 | by ( Dec. | At A.M. | ) www.usnews.com time to read: 1 min

BERLIN (Reuters) - Germany plans to extend its border controls with Poland, the Czech Republic and Switzerland to stem a migration surge and combat people-smuggling until Dec. 15, a spokesperson for the interior ministry said on Monday. Berlin will notify the European Commission of the extension, the spokesperson told a regular news conference in Berlin. The ministry believes stationary police measures at the Polish border should continue in particular, he said, adding that those measures had led to the prevention of around 1,100 unauthorised entries since they came into force on Oct. 16. Germany announced the stricter controls on its land borders with Poland, the Czech Republic and Switzerland in response to a sharp increase of first-time asylum requests this year. (Reporting by Rachel More; editing by Matthias Williams)

Persons: Rachel More, Matthias Williams Organizations: BERLIN, European Commission Locations: Germany, Poland, Czech Republic, Switzerland, Berlin, Polish

☆ Swiss Re targets higher 2024 net income of $3.6 bln
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

The logo of insurance company Swiss Re is seen in front of its headquarters in Zurich, Switzerland February 12, 2019. REUTERS/Arnd WIegmann/File Photo Acquire Licensing RightsZURICH, Dec 1 (Reuters) - Swiss Re (SRENH.S) expects to increase its net income to more than $3.6 billion for 2024, the company said on Friday, as it announced new financial targets on its investors day. The world's second biggest reinsurer has previously said it expects net income of more than $3 billion for 2023. The changes come as Swiss Re switches its accounting standard from U.S. GAAP to IFRS, a move that will be effective from 2024. "Swiss Re is well positioned to benefit from the more economic view provided by the IFRS accounting standard, which is reflected in the targets published today."

Persons: Arnd, Christian Mumenthaler, John Revill, Rachel More Organizations: Swiss, REUTERS, Rights, IFRS, Thomson Locations: Zurich, Switzerland, Swiss

☆ Benko's complex web at Signa - from Chrysler building to Berlin landmark
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +6 min

SIGNA PRIME/PROPERTY PORTFOLIOAccording to Signa, Prime is the group's largest company in its real estate division, valued at around 20.4 billion euros ($22.23 billion). Since 2019 Signa Holding has also been a co-owner of New York's iconic Chrysler Building. TRADING/RETAIL COMPANIESBenko has bundled his trading interests under the divisions Signa Retail and Signa Premium. In Switzerland, Benko's trading investments are bundled into Signa Retail Selection AG, which filed for bankruptcy protection on Wednesday. In 2018, Signa Holding bought around 24% stake in Austrian daily newspapers "Krone" and "Kurier" from Funke media group.

Persons: Lisi Niesner, Rene Benko, Ernst Tanner, Hans Peter Haselsteiner, Torsten Toeller, Arthur Eugster, SIGNA, Signa, Otto Wagner, Benko's, Klaus, Michael Kuehne, Kuehne, Hamburg's, Chirathivat, Benko, Frasers, Kaufhof, Karstadt, Galeria, Alexandra Schwarz, Goerlich, Mattias Inverardi, Victoria Farr, Emma, Rachel More, Elisa Martinuzzi, Tomasz Janowski Organizations: Signa, REUTERS, Chrysler, Bank Austria, Femina, Chrysler Building, . Central Group, Globus, Selfridges, Central Group, Funke, Thomson Locations: Berlin, Germany, New, Britain's Selfridges, Innsbruck, Swiss, Vienna, Hamburg, KaDeWe, Oberpollinger, Munich, Vienna's, Tyrol, Essen, Duesseldorf, London, Switzerland

☆ Signa group's SportScheck retailer to file for insolvency - reports
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

'SportScheck' store is seen closed due to the coronavirus disease (COVID-19) pandemic in Munich, Germany, February 5, 2021. REUTERS/Michaela Rehle/File Photo Acquire Licensing RightsBERLIN, Nov 30 (Reuters) - German sporting goods retailer SportScheck, part of the debt-addled Austrian property empire Signa, will file for insolvency with a court in Munich on Thursday, the DPA news agency and other German media reported. The court was not immediately available for comment and SportScheck was not reachable. Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, making it the biggest casualty so far of a property crash in Europe driven by a sharp rise in interest rates and building costs. Reporting by Matthias Inverardi and Rachel More, editing by Kirsti KnolleOur Standards: The Thomson Reuters Trust Principles.

Persons: Michaela Rehle, SportScheck, Matthias Inverardi, Rachel More, Kirsti Organizations: REUTERS, Rights, Thomson Locations: Munich, Germany, Europe

☆ Scholz, Zelenskiy Discuss Military Support, Push for Peace -Berlin
▼ + stars: | 2023-11-30 | by ( Nov. | At P.M. | ) www.usnews.com time to read: 1 min

BERLIN (Reuters) - German Chancellor Olaf Scholz reiterated Berlin's unwavering support for Ukraine in a telephone call with President Volodymyr Zelenskiy on Thursday, a government spokesperson in Berlin said. The two leaders agreed to continue their exchange, "also with a view towards the global support for a peaceful solution" to the conflict, the spokesperson said in a statement. Zelenskiy, in his nightly video address, said he expressed thanks for assistance in telephone calls with Scholz, British Prime Minister Rishi Sunak and Bulgarian Prime Minister Nikolai Denkov. Our agreements...are all being implemented," Zelenskiy said. (Writing by Rachel More, editing by Thomas Escritt and Ron Popeski)

Persons: Olaf Scholz, Volodymyr Zelenskiy, Zelenskiy, Scholz, Rishi Sunak, Nikolai Denkov, Rachel More, Thomas Escritt, Ron Popeski Organizations: BERLIN, Ukraine, British, Bulgarian Locations: Berlin

☆ 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

☆ Disease could be bigger killer than bombs in Gaza - WHO
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mohammed Salem/ File photo Acquire Licensing RightsGENEVA, Nov 28 (Reuters) - More people could die from disease than from bombings in the Gaza Strip if its health system is not repaired, a World Health Organization spokesperson said on Tuesday. Gaza health authorities deemed reliable by the United Nations say more than 15,000 people have been confirmed killed in Israel's bombardment of Gaza, around 40% of them children, with many more dead feared to be lost under rubble. Citing a U.N. report on the living conditions of displaced residents in northern Gaza, she said: "(There are) no medicines, no vaccination activities, no access to safe water and hygiene and no food. She described the collapse of Al Shifa Hospital in northern Gaza as a "tragedy" and voiced concern about the detention of some of its medical staff by Israeli forces during a WHO evacuation convoy. They don't have access to safe water and it's crippling them," he said.

Persons: Khan Younis, Mohammed Salem, Margaret Harris, James Elder, Emma Farge, Rachel More, Nick Macfie Organizations: REUTERS, Rights, Health Organization, United Nations, Al, WHO, Children's Agency, Thomson Locations: Israel, Gaza, Geneva, Al Shifa

Speaking to parliament, Scholz went into Germany's recent history of the COVID pandemic, the war in Ukraine and soaring energy prices to extend a suspension of self-imposed borrowing limits to tackle a crisis that has knocked his coalition. A constitutional court ruling nearly two weeks ago blocked the government's plans to reallocate unused pandemic funds towards green initiatives and industry support, raising fears Germany's economy could be further weakened. Scholz's assurances that his government would solve the budget crisis with care were met with jeers and laughter from the opposition Christian Democrats (CDU), whose lawsuit against the government had sparked the earlier court ruling. He underscored support for Ukraine, after the recent budget turmoil raised questions over how much military aid Berlin was willing to commit. "It is also clear that we must not let up in our support for Ukraine and in overcoming the energy crisis.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Friedrich Merz, Scholz, Germany's, Berlin, Scholz's, " Merz, Andreas Rinke, Christian Kraemer, Miranda Murray, Rachel More, Matthias Williams, Kirsti Knolle, Bernadette Baum Organizations: Climate, Christian Democratic Union, CDU, Bundestag, Christian Democrats, Ukraine, Finance, Thomson Locations: BERLIN, Ukraine, Germany, East Germany

☆ German government unveils budget fixes as way out of crisis
▼ + stars: | 2023-11-27 | by ( Christian Kraemer | ) www.reuters.com time to read: +5 min

The government said the spillover effects from the energy crisis that hit in 2022 after Russia's invasion of Ukraine and caused rocketing prices had created an emergency situation that justified suspending the debt brake. The leader of Scholz's SPD urged the government to consider suspending the debt brake next year, a move rejected in particular by the fiscally hawkish Free Democrats (FDP). "The debt brake must remain." The debt brake, introduced after the global financial crisis of 2008-2009, was first suspended in 2020 to help the government support firms and health systems during the COVID-19 pandemic. On Monday he stressed the need to give companies, which have been worried by the uncertainty caused by the budget crisis, clarity as quickly as possible.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Annegret, Olaf Scholz's, finalising, Scholz's, Christian Duerr, Bijan Djir, Christian Kraemer, Riham Alkousaa, Amir Orusov, Rachel More, Matthias Williams, Thomas Escritt, Alison Williams, Tomasz Janowski Organizations: Finance, Climate, REUTERS, Free Democrats, ZDF, Greens, Thomson Locations: Berlin, Germany, BERLIN, Ukraine, Sarai, East Germany

☆ German cabinet to agree supplementary budget this afternoon - spokesperson
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

... Acquire Licensing Rights Read moreNov 27 (Reuters) - Germany's cabinet is expected to agree a supplementary 2023 budget this afternoon, a government spokesperson said on Monday. The cabinet will also try to present a 2024 budget by the end of the year, the spokesperson said, adding that if this did not work out, the plan was to agree a budget in January. The cabinet would base its reasoning for a renewed suspension of the country's debt brake on 2022 reasoning, the spokesperson added, speaking at a regular press conference in Berlin. Chancellor Olaf Scholz's government was forced to freeze most new spending commitments after the constitutional court blocked plans to repurpose unused pandemic funds towards green projects and industry subsidies, wiping billions from the federal budget. Reporting by Amir Orusov and Christian Kraemer, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Persons: Olaf Scholz, Chancellor Olaf Scholz's, Amir Orusov, Christian Kraemer, Rachel More Organizations: Thomson Locations: Berlin, Germany

☆ Vitesco says new Schaeffler offer for EV merger 'inadequate'
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

The Vitesco company logo is seen at Continental's pilot location for industry 4.0 applications in Regensburg, Germany, February 28, 2020. REUTERS/Michael Dalder/File Photo Acquire Licensing RightsNov 27 (Reuters) - German automotive supplier Schaeffler (SHA_p.DE) raised its offer price for shares in Vitesco Technologies (VTSCn.DE) on Monday, as a goodwill gesture, but Vitesco management said the new offer was "inadequate". Germany's billionaire Schaeffler family holds all voting rights and 75% of shares in its namesake supplier of electric vehicle components. It also owns close to 50% of Vitesco, making the likelihood the merger will be agreed all but certain. However, under pressure from some investors, who said the original offer of 91 euros per share was too low, it increased its offer price to 94 euros ($102.53) per share in Vitesco.

Persons: Michael Dalder, Schaeffler, Vitesco, Amir Orusov, Christina Amann, Rachel More, Barbara Lewis Organizations: REUTERS, Vitesco Technologies, Continental AG, Thomson Locations: Regensburg, Germany, Vitesco

☆ German export sentiment improves in November - Ifo
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

A cargo ship is seen on river Main in front of the skyline during a summer evening in Frankfurt, Germany, August 13, 2023. REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsNov 27 (Reuters) - Sentiment among German exporters improved in November, although only a few sectors expected exports to increase, according to a survey by the Ifo economic institute released on Monday. The institute's export expectations indicator rose to minus 3.8 points in November from minus 6.3 points in October. "However, the export economy still isn't managing to develop any momentum," Klaus Wohlrabe, head of surveys at Ifo, said. "German companies have yet to benefit much from the economic upswing in many countries," he added.

Persons: Kai Pfaffenbach, Klaus Wohlrabe, Amir Orusov, Rachel More Organizations: REUTERS, Thomson Locations: Frankfurt, Germany, Ifo

☆ Baer says exposure to single group tops 600 mln francs as Signa crisis deepens
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

The logo of Swiss private bank Julius Baer is seen at their headquarters in Zurich, Switzerland February 2, 2022. Julius Baer has exposure to troubled property group Signa, a source close to the matter told Reuters, adding that Julius Baer was expected to write down some of those loans. "If and when appropriate, the Group will remain prudent in booking further valuation adjustments as required," Julius Baer said. Last week Baer's shares slumped to their lowest this year as the bank dampened profit expectations after loan provisions amounting to 82 million Swiss francs. Of the 82 million francs, 70 million francs were booked against its credit portfolio after Oct. 31, 2023, without identifying the loans in question.

Persons: Julius Baer, Arnd, Philipp Rickenbacher, Andreas Venditti, Noele Illien, Rachel More, Kim Coghill Organizations: REUTERS, Rights, Thomson Locations: Zurich, Switzerland, Swiss

☆ Red Cross begins operation to transfer Gaza hostages, Palestinian detainees
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +1 min

GENEVA, Nov 24 (Reuters) - The International Red Cross confirmed on Friday that its teams had started carrying out a multi-day operation to facilitate the release and transfer of hostages held in Gaza and of Palestinian detainees. A spokesperson confirmed that 24 hostages were transferred out of Gaza and handed over to Egyptian authorities at the Rafah border crossing. He said they were accompanied by eight staff members of the International Committee of the Red Cross (ICRC) in a four-car convoy. The ICRC, a neutral, Swiss-based organisation, also says the operation also involves the delivery of additional, much-needed aid into Gaza. Reporting by Emma Farge, Editing by Rachel More and Sarah MarshOur Standards: The Thomson Reuters Trust Principles.

Persons: Cross, Fabrizio Carboni, Emma Farge, Rachel More, Sarah Marsh Organizations: Cross, International Committee, ICRC, Thomson Locations: GENEVA, Gaza, Rafah, Swiss

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