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☆ Infineon reports better-than-expected 2023 revenue on semiconductor demand
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

Infineon Technologies AG logo is seen during German Economy Minister Robert Habeck and Foreign Minister Annalena Baerbock's visit, in Dresden, Germany July 13, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsBERLIN, Nov 15 (Reuters) - German chip manufacturer Infineon (IFXGn.DE) reported higher-than-expected revenue for its 2023 fiscal year on Wednesday as demand for semiconductors, particularly in the electromobility and renewable energy sectors, remains unabated. Revenue was 16.31 billion euros ($17.72 billion), up 15% from the year before, slightly beating company-provided analyst expectations of 16.22 billion euros. "Structural semiconductor growth in the areas of renewable energy, electromobility – especially in China – and microcontrollers for the automotive industry remains unabated," said Chief Executive Jochen Hanebeck. The company is forecasting slightly slower revenue growth for the 2024 fiscal year of 17 billion euros, plus or minus 500 million.

Persons: Robert Habeck, Annalena Baerbock's, Annegret, Jochen Hanebeck, Miranda Murray, Linda Pasquini Organizations: Infineon, REUTERS, Rights, Revenue, Thomson Locations: Dresden, Germany, China

☆ German foreign minister, in Israel, says humanitarian crisis must be contained
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +2 min

[1/2] German Foreign Minister Annalena Baerbock's holds a press conference in Tel Aviv, Israel November 11, 2023, in this still image taken from a video. The trip has taken Baerbock to the United Arab Emirates and Saudi Arabia. It was unclear how Israel in case of a general ceasefire would be able to defend itself, Baerbock said. The Middle East has been on edge since Hamas fighters rampaged into Israel on Oct. 7, killing 1,200 people. "I have assured my colleague Eli Cohen of Germany's unshakable solidarity with Israel," Baerbock said.

Persons: Annalena Baerbock's, Joseph Campbell, Annalena Baerbock, Eli Cohen, Baerbock, rampaged, Germany's, Vera Eckert, Christina Fincher Organizations: REUTERS, Rights, West Bank, European Union, United Arab, Reuters, Thomson Locations: Tel Aviv, Israel, Gaza, East, Brussels, United Arab Emirates, Saudi Arabia, Ramallah, West Bank . Saudi Arabia

☆ Infineon signs semiconductor supply deal with automakers Hyundai, Kia
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

Infineon Technologies AG logo is seen during German Economy Minister Robert Habeck and Foreign Minister Annalena Baerbock's visit, in Dresden, Germany July 13, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsBERLIN, Oct 18 (Reuters) - German chip manufacturer Infineon (IFXGn.DE) said on Wednesday it has signed a multi-year agreement with Hyundai and Kia to supply power semiconductors for the production of electric cars. Infineon will build and reserve manufacturing capacity to supply silicon carbide and silicon power modules and chips to Hyundai and Kia until 2030, with the two carmakers to support the project with financial contributions, Infineon said in a statement. "This partnership not only empowers Hyundai Motor and Kia to stabilise its semiconductor supply but also positions us to solidify our leadership in the global EV (electric vehicle) market," Heung Soo Kim, Hyundai's Executive Vice President, said in a statement. Reporting by Rachel More, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Robert Habeck, Annalena Baerbock's, Annegret, Heung Soo Kim, Rachel More, Louise Heavens Organizations: Infineon, REUTERS, Rights, Hyundai, Kia, Hyundai Motor, Thomson Locations: Dresden, Germany

☆ China complains to Germany after foreign minister calls Xi a 'dictator'
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO: German Foreign Minister Annalena Baerbock attends a joint press conference with Chinese Foreign Minister Qin Gang (not pictured) at the Diaoyutai State Guesthouse in Beijing, China, April 14, 2023. Suo Takekuma/Pool via REUTERS/File Photo Acquire Licensing RightsBEIJING, Sept 18 (Reuters) - China has complained to Germany after its foreign minister labelled President Xi Jinping a "dictator", the Chinese foreign ministry said on Monday, calling the title "absurd" and an "open political provocation". German Foreign Minister Annalena Baerbock made the remarks in a live interview with Fox News last week when asked about Russia's war on Ukraine. "If Putin were to win this war, what sign would that be for other dictators in the world, like Xi, like the Chinese president?" Mao Ning, a Chinese foreign ministry spokesperson, said Baerbock's remarks were "extremely absurd" and infringed on China's political dignity.

Persons: Annalena Baerbock, Qin Gang, Xi Jinping, Putin, Xi, Mao Ning, Baerbock's, Mao, Joe Biden, Antony Blinken, Liz Lee, Ethan Wang, Bernard Orr, Jacqueline Wong Organizations: Chinese Foreign, Rights, Fox News, Thomson Locations: Diaoyutai, Beijing, China, Rights BEIJING, Germany, Ukraine, Baerbock

☆ Infineon boosts Malaysia investment as Q3 revenue above forecast
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

For the full year, Infineon expects investments amounting to approximately 3 billion euros. The planned expansion of the Kulim fab is backed by customer commitments covering about 5 billion euros and about 1 billion euros in pre-payments, said Infineon, which said it would invest up to an additional 5 billion euros over the next five years. The company expects the expanded facility - together with its plant in Villach, Austria - to generate annual revenues of 7 billion euros. The company on Thursday confirmed its revenue outlook of around 16.2 billion euros, which it had raised in May. Infineon's third-quarter adjusted, or "segment", result was down 10% from the previous quarter at 1.067 billion euros, while its margin came in slightly lower than expected, at 26.1%.

Persons: Robert Habeck, Annalena Baerbock's, Annegret, Schwarz, Jochen Hanebeck, Ford, China's Cherry, Infineon's, Miranda Murray, Christina Amann, Friederike Heine, William Mallard Organizations: Infineon Technologies, REUTERS, Infineon, Lang, Semiconductor, SAIC, Thomson Locations: Dresden, Germany, Malaysia, BERLIN, electromobility, Villach, Austria

☆ Infineon shares slump on Q4 warning, eyes Malaysia expansion
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

Infineon forecast revenue of around 4 billion euros ($4.37 billion) in the fourth quarter, below expectations of 4.14 billion euros, according to IBES data from Refinitiv. The company, however, confirmed its revenue outlook of around 16.2 billion euros, which it had raised in May. Infineon's third-quarter adjusted result was down 10% from the previous quarter at 1.067 billion euros, while its margin came in slightly lower than expected, at 26.1%. MALAYSIA FACTORYInfineon said it will invest 5 billion euros over the next five years to build a power chip plant in Malaysia, on top of the 2 billion euros investment it had planned last year. For the full year, Infineon expects investments amounting to approximately 3 billion euros.

Persons: Robert Habeck, Annalena Baerbock's, Annegret, Gartner, Jochen Hanebeck, Infineon's, China's Cherry, Miranda Murray, Christina Amann, Friederike Heine, William Mallard, Kim Coghill Organizations: Infineon Technologies, REUTERS, Infineon, AMD, Qualcomm, JPMorgan, Semiconductor, MALAYSIA, Ford, SAIC, Thomson Locations: Dresden, Germany, Malaysia, Refinitiv, Infineon's, Villach, Austria, German

☆ Germany's foreign minister: Parts of China trip 'more than shocking'
▼ + stars: | 2023-04-19 | by ( Alexander Ratz | ) www.reuters.com time to read: +2 min

[1/2] German Foreign Minister Annalena Baerbock speaks during a joint press conference with Chinese Foreign Minister Qin Gang (not pictured) at the Diaoyutai State Guesthouse in Beijing, China, April 14, 2023. Suo Takekuma/Pool via REUTERS/File PhotoBERLIN, April 19 (Reuters) - German Foreign Minister Annalena Baerbock on Wednesday described parts of her recent trip to China as "more than shocking" and said Beijing was increasingly becoming a systemic rival more than a trade partner and competitor. Beijing in turn asked Germany to support Taiwan's "reunification" and said China and Germany were not adversaries but partners. Speaking to the German Bundestag (lower house of parliament) on Wednesday about her China trip, Baerbock said "some of it was really more than shocking". China is Germany's largest trading partner, said Baerbock, but this did not mean Beijing was also Germany's most important trading partner.

☆ China says hopes Germany supports peaceful Taiwan 'reunification'
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: +2 min

[1/4] German Foreign Minister Annalena Baerbock and Chinese Foreign Minister Qin Gang attend a joint press conference at the Diaoyutai State Guesthouse in Beijing, China, April 14, 2023. Suo Takekuma/Pool via REUTERSBEIJING, April 15 (Reuters) - China's top diplomat Wang Yi "hopes and believes" Germany will support China's "peaceful reunification" with Taiwan, the Chinese foreign ministry said in a statement on Saturday. Wang made the remarks at a meeting with German Foreign Minister Annalena Baerbock, who is visiting China until Saturday, adding that China once supported Germany's reunification. Taiwan's Foreign Ministry said in a statement on Saturday it strongly approved of Baerbock's comments. "The Foreign Ministry thanks many high-level officials in the executive departments of various countries, including Germany, for their solidarity with Taiwan," it said.

As a result, the stakes of the inaugural trip by German Foreign Minister Annalena Baerbock have risen, with many EU members hoping Berlin will use this opportunity to set out a clear and united EU line on China, analysts said. Baerbock must now make Germany's position on Taiwan clear during her visit, German foreign policy parliamentarian Nils Schmid told Reuters, adding Macron's remarks had destroyed a hoped-for impetus for a common European China policy. The foreign minister is due to meet her counterpart Qin Gang and China's top diplomat Wang Yi on the two-day trip. Europe's view of China as partner, competitor and systemic rival is the compass of its policy, she added. "More von der Leyen than Macron should be her guideline," conservative foreign policy lawmaker Johann Wadephul, who will join Baerbock on her trip, told Reuters.

☆ Germany accuses Russia of twisting minister's war comments for 'propaganda'
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Jan 27 (Reuters) - Russia has twisted comments by Germany's foreign minister about the war in Ukraine for propaganda purposes, a German foreign ministry spokesperson said on Friday, stressing Berlin's position that NATO must not become party to the conflict. German Foreign Minister Annalena Baerbock riled Moscow with comments at an event in Strasbourg on Tuesday, when, speaking in English, she said that "we are fighting a war against Russia, and not against each other". Russian Foreign Ministry Spokeswoman Maria Zakharova, in a post on her Telegram messaging channel cited by state TASS news agency on Wednesday, seized on Baerbock's comments as evidence the West was waging a "premeditated war against Russia". This concern was part of the reason for Germany's delay in agreeing to send the Leopard tanks to Ukraine. "Russian propaganda continually takes statements, sentences, stances, positions of the government, our partners and uses them to serve their purposes," said the German foreign ministry spokesperson.

☆ Germany signals shift in veto on Leopard tanks for Ukraine
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +5 min

Leopard tanks, which are held by an array of NATO countries but whose transfer to Ukraine requires Berlin's approval, are seen by defence experts as the most suitable for Ukraine. Western allies pledged billions of dollars in weapons for Ukraine last week but they failed to persuade Germany to lift its veto on providing the tanks. French President Emmanuel Macron, meanwhile, said he did not rule out the possibility of sending Ukraine Leclerc tanks. Ukraine has never publicly said that the town was taken by Russian forces. On Sunday, the general staff of its armed forces said in a daily update that Russian forces had fired on Ukrainian positions in the area.

☆ EU wrangles with Hungary over Ukraine aid, tax plan as billions at risk
▼ + stars: | 2022-12-12 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +4 min

As the wrangling has gone on, Hungary also blocked the 18 billion euros joint EU loan to Ukraine and the tax plan, drawing ire from other countries for what they said was an attempt to blackmail the bloc into releasing the funds to Budapest. Hungary says it opposes joint EU borrowing to support Ukraine but that it would extend bilateral aid to Kyiv instead. Budapest has also said the OECD plan for a minimum corporate tax is against Hungary's national interests. Other EU countries are divided between those willing to punish Hungary more harshly and those saying the amounts frozen would be lessened if Hungary moved on Ukraine and OECD. The rest depends on Hungary, it's their money," said one EU diplomat.

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