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☆ As London loses another listing, analysts are wary of writing off the UK capital
▼ + stars: | 2024-02-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

The offices of London Stock Exchange Group Plc, right, in Paternoster Square in the City of London, UK. Bloomberg | Bloomberg | Getty ImagesLONDON — TUI became the latest company to ditch its share listing in London, as shareholders voted overwhelmingly for the German travel giant to list solely in Frankfurt. Around 77% of transactions in TUI shares are currently settled via Germany, with the U.K. now accounting for less than a quarter. U.K. stocks are trading at a considerable discount to the rest of Europe, having suffered an investor flight in recent years. London still a contender London has also suffered a number of de-listings and high-profile IPO snubs over the past year.

Persons: TUI, Frankfurt's, Mathias Kiep, London, SoftBank, Rishi Sunak's Organizations: London Stock Exchange Group, City of, Bloomberg, Getty, London Stock Exchange, CNBC, Nasdaq Locations: Paternoster, City, City of London, London, Frankfurt, Hannover, Germany, TUI, Europe

A pedestrian carrying an umbrella walks along the River Thames in view of City of London skyline in London, Britain, July 31, 2023. Finance executives, consultants and headhunters interviewed by Reuters predict subdued deal flows, modest bonuses for most and heavy job cuts in 2024. "2023 will ultimately be one of the lowest corporate finance fee pools in modern history," said Fabrizio Campelli, head of Corporate Bank and Investment Bank at Deutsche Bank. JOB CUTSBanks have already turned to cost cuts to try to weather the downturn, which in a people-intensive business means job losses. And although some bankers expect a tough 2024, others sense an opportunity for European banks from the Basel Endgame.

Persons: Hollie Adams, Fabrizio Campelli, Banks, Ronan O'Kelly, Oliver Wyman, O'Kelly, Dominic Hook, Goldman Sachs, Vis Raghavan, JP Morgan, Morgan McKinley's, Stephane Rambosson, headhunter, Rambosson, Ana Botin, Morgan's Raghavan, there's, Oliver Wyman's O'Kelly, Deutsche's Campelli, Anousha Sakoui, Carolyn Cohn, Jesus Aguado, Alexander Smith Organizations: REUTERS, LONDON, Finance, Reuters, Corporate Bank, Investment Bank, Deutsche Bank, Organisation for Economic Cooperation, Development, Barclays, Lloyds, Challenger Metro Bank, UBS UBSG.S, Citi, Workers, Global Investment Banking, Employment, European Union, Santander, Global, Basel, Thomson Locations: City, London, Britain, Europe, Middle East, Africa, Ukraine, West, China, United States, India, Madrid

☆ Russia's VTB in Europe changes name as it liquidates
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

The logo of VTB bank is seen on the bank's headquarters in Tehran, Iran, May 23, 2023. Before Russia invaded Ukraine, VTB in Europe attracted tens of thousands of German savers with its relatively high interest rates and marketed itself as a sponsor of Frankfurt's ice hockey team, the Lions. But after the war began, savers withdrew their money, resulting in a bank run and prompting regulators to manage the outflow. VTB in Russia did not immediately respond to requests for comment. The Direktbank division that served retail savers has closed with its last customer - who used VTB for a deposit for a garden shed.

Persons: Majid Asgaripour, Russia's, Frank Hellwig, VTB, Hellwig, Miro Zadro, Tom Sims, John O'Donnell, Alexander Marrow, Barbara Lewis Organizations: West Asia News Agency, REUTERS, Rights, Reuters, Lions, savers, Thomson Locations: Tehran, Iran, Frankfurt, Europe, Russia, Ukraine, VTB, Ost, West

☆ Beware the bears: Why it's too easy to be a seller right now
▼ + stars: | 2023-10-01 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

Now that we are almost back to normal via de-inversion, what does that say to the billionaire class? The stock sellers show no fortitude. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: —, Jerome Powell, Brent, didn't, Jim Cramer's, Jim Cramer, Jim, Kai Pfaffenbach Organizations: Treasury, Costco, Organization of Petroleum, Club, Costco Wholesale, Nike, Honeywell, Nvidia, Fed, Jim Cramer's Charitable, CNBC Locations: Saudi Arabia, Frankfurt, Germany

REUTERS/Kai Pfaffenbach/File PhotoFRANKFURT, July 27 (Reuters) - New construction plunged in Germany during the first half of the year, data on Thursday showed, the latest sign of stress in the property market of Europe's largest economy. The data underscore a steep rut that dominates the nation's real-estate sector in its worst crisis in decades. "There's strong caution in project development," said Sven Carstensen, chief executive of Bulwiengesa. The nation's property industry will ask the government for multi-billion euro support at a meeting with Chancellor Olaf Scholz in September, Reuters reported last week. "The situation is dramatic," said Jan-Marco Luczak, a parliamentarian who has pushed for a property tax cut demanded by industry.

Persons: Kai Pfaffenbach, Sven Carstensen, Chancellor Olaf Scholz, Marco Luczak, Marcus Gwechenberger, Bulwiengesa, Florian Schwalm, EY, Karim Rochdi, Tom Sims, Hugh Lawson Organizations: REUTERS, Bulwiengesa, Reuters, European Central Bank, Thomson Locations: Frankfurt, Germany, FRANKFURT, Frankfurt's

☆ Roger Waters says Nazi outfit at Berlin concert was anti-fascist
▼ + stars: | 2023-05-26 | by ( ) www.reuters.com time to read: +2 min

Waters said the depiction of "an unhinged fascist demagogue" had been a feature of his shows since "The Wall". Waters is being investigated under a separate law on suspicion of "incitement of the people", police said. Other German cities including Munich, Frankfurt and Cologne tried to cancel Waters' concerts after Jewish groups including the Central Council of Jews accused him of anti-Semitism. The final German tour date at Frankfurt's Festhalle venue on Sunday is still listed on Waters' website. Reporting by Friederike Heine in Berlin and Sachin Ravikumar in London, Editing by Andrew Heavens and Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.

☆ Frankfurt Stadium to host Kansas City Chiefs in maiden NFL game
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

Five international fixtures will take place over October and November with three in London. Only one regular-season NFL game has ever been staged in Germany, last season's clash between Tampa Bay Buccaneers and Seattle Seahawks in Munich's Allianz Arena. The Frankfurt Stadium will host reigning Super Bowl champions Kansas City Chiefs on Nov. 5 for their game against Miami Dolphins and a week later will welcome Indianapolis Colts and the New England Patriots. "We are... pleased to confirm that the two games in Germany will be played in Frankfurt, a city steeped in NFL heritage. The Jaguars will kick off the international fixtures against Atlanta Falcons on Oct. 1 at Wembley Stadium.

☆ Take Five: Rate hike vs bank stress
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +5 min

The Fed is expected to deliver another 25-basis point interest rate increase on Wednesday and signal a pause in its most aggressive rate-hiking cycle since the 1980s. Futures markets show investors pricing an nearly 90% chance of a rate increase. But confidence in a 25 bps rate hike has wavered in recent days after problems at lender First Republic reignited concerns over the U.S. banking sector. Yet, key inflation and bank lending data releases in the days ahead could sway that outcome. Tuesday's flash April inflation data is likely to confirm underlying price pressures - running above 5% - remains uncomfortably high.

☆ Volkswagen to invest $193 billion over 5 years to hit EV target
▼ + stars: | 2023-03-14 | by ( Victoria Waldersee | ) www.reuters.com time to read: +4 min

[1/2] The logo of carmaker Volkswagen Commercial Vehicles is pictured at the IAA Transportation fair, which opened its doors to the public on September 20, 2022, in Hanover, Germany, September 19, 2022. The investments come as Volkswagen, Europe's top carmaker, tries to close a gap with electric vehicle (EV) pioneer Tesla (TSLA.O) by expanding its slice of the growing market for battery-powered cars. In the latest investment plan, up to 15 billion euros is ringfenced for battery plants and raw materials. VW outperforms EU rivalsThe investment decisions are targeted towards fulfilling a 10-point plan developed by Volkswagen CEO Oliver Blume after he took the helm in September. The most likely actual stock market candidate is battery unit PowerCo.

☆ Analysis: Wage catch-up to prolong Europe's inflation battle
▼ + stars: | 2023-03-10 | by ( Balazs Koranyi | ) www.reuters.com time to read: +6 min

"Part of the wage increase is understandable," said Jens Ulbrich, chief economist at Germany's Bundesbank. Yet the rapid wage growth underway now will hamper the European Central Bank's efforts to get inflation back to its 2% target, and possibly force it to keep interest rates high for longer. "We are taking a first step, but much more is needed to reverse the years of lopsided wage growth," Kager added. "The inflation trend, food and especially energy prices are tearing deep holes in our workers' budgets," ver.di Chairman Frank Werneke said. "The high levels of wage growth projected for 2023 and 2024 can be expected to make wages an increasingly dominant driver of underlying inflation in the euro area," Lane says.

"We expect the supply chain bottlenecks to gradually ease in the current year, allowing us to service the high order backlog." Shares in the company rose 7.5% to the top of Frankfurt's benchmark DAX index (.GDAXI) on the news and hit their highest level since Dec. 13. Volkswagen's revenues are forecast to grow by 10-15%, indicating 2023 sales of 307 billion to 331 billion euros, significantly higher than the 280 billion Refinitiv estimate. According to Refinitiv estimates, holders of Volkswagen's preferred shares were expected to get a dividend of 8.46 euros apiece. ($1 = 0.9414 euros)Reporting by Christoph Steitz and Jan Schwartz Editing by Miranda Murray and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen expects vehicle deliveries, sales to rise in 2023
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

Companies Volkswagen AG FollowFRANKFURT, March 3 (Reuters) - Volkswagen (VOWG_p.DE), Europe's largest carmaker, expects revenues and vehicle deliveries to rise in 2023, it said on Friday, citing a strong order backlog and the easing of chip shortages and supply chain issues. Vehicle deliveries are expected to rise to around 9.5 million in 2023, the company said, up from 8.26 million last year. Sales are forecast to grow by 10-15%, indicating 2023 sales of 307 billion to 331 billion euros ($326-$352 billion). According to Refinitiv estimates, 2023 sales are seen at 280 billion euros. Dividends are to increase by 1.20 euros per share, rising to 8.70 euros per ordinary share and to 8.76 euros per preferred share.

☆ Bayer picks outsider Anderson as CEO after investor pressure
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

News of the CEO change sent the German drugs-to-pesticides giant's shares to their highest level in nearly eight months. Shares in Bayer closed up 6% on the news of the new CEO, reaching the top of Frankfurt's blue-chip index and hitting their highest level since June last year. "Bill Anderson's mission is clear: enable Bayer to realize its full potential and create sustainable value for our shareholders, farmers, patients, consumers, employees, and all stakeholders of the company," Winkeljohann added. Sources told Reuters earlier this week that activist investor Jeff Ubben had contacted fellow investors to drum up support for big changes at Bayer, including the swift replacement of Baumann. Reporting by Patricia Weiss, Kirsti Knolle and Christoph Steitz; Editing by Tom Sims and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Perella Weinberg puts employee in insider trading probe on leave -sources
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Jan 27 (Reuters) - The advisory firm Perella Weinberg Partners (PWP.O) has placed an employee who is being investigated as part of an insider trading probe in Germany on leave, two people with knowledge of the matter told Reuters on Friday. On Thursday, German authorities said they were investigating five suspects, including one who was in custody, for allegedly profiting on upcoming M&A transactions between 2017 and 2021. Perella said in a statement: "The firm is assisting in an investigation by German law enforcement authorities. The firm is not the subject of the investigation, and there is no suggestion of wrongdoing on the part of the firm." The Perella employee is based in London, the two people said, speaking on condition of anonymity.

☆ US futures rise and Hong Kong stocks jump 5% after China's vaccination move boosts hopes for a zero-COVID pivot
▼ + stars: | 2022-11-29 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Hong Kong stocks soared and US futures rose Tuesday, after logging big losses the previous session. Recent public protests in China over strict zero-COVID curbs threatened to worsen supply chain issues. China said Tuesday it will boost vaccination for elderly citizens, a key step to reopening its economy. US stocks gained in premarket trading, with S&P 500 futures rising 0.11%, Nasdaq futures up 0.27% and Dow Jones Industrial Average futures 0.48% higher. Hong Kong's Hang Seng jumped 5.24% on expectations China could ease its zero-COVID policies, while the mainland Shanghai Composite climbed 2.31%.

Apart from generating and selling electricity, RWE also operates a large desk that trades in electricity, gas and CO2 certificates as well as other commodities, which can lead to bumper profits in times of significant price swings. "We have a very fundamental understanding of how markets work," Chief Financial Officer Michael Mueller told reporters on Thursday. Stifel Research, keeping a "buy" rating on RWE shares, said trading results were driven by so-called contango, where the futures price of a commodity is higher than spot levels. Nine-month adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 4.1 billion euros ($4.1 billion), up from 2.4 billion a year earlier. Apart from the strong performance in trading, where profits were up 59%, results also benefited from higher electricity wholesale prices for gas and biomass, Mueller said.

☆ Porsche shares to be issued at 82.50 eur/shr
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, Sept 28 (Reuters) - Shares in Porsche AG will be issued at 82.50 euros per share, the top end of an initial range given earlier this month, parent Volkswagen said on Wednesday. Volkswagen had set the pricing range at 76.50-82.50 euros a share for Porsche AG's initial public offering, and bookmakers earlier this week suggested that the top end of the range will be met. read more read moreShares in Porsche AG will start trading on Frankfurt's stock exchange on Thursday. Register now for FREE unlimited access to Reuters.com RegisterReporting by Christoph Steitz and Akriti Sharma; Editing by Ludwig Burger and Mark PorterOur Standards: The Thomson Reuters Trust Principles.

☆ How to navigate a bear market — we look to history for answers and tell you how we're doing it
▼ + stars: | 2022-09-28 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

So the current bear market started in early January and won't be considered over until the S & P 500 closes 20% or more above its bear market low, which can only be determined in hindsight. But Monday and Tuesday, the S & P 500 closed lower, setting new bear market lows each day. Notably, the term "rolling bear market" has also been one we have heard in recent years. Investing in a bear market There are various options for how different sorts of people can play a bear market like the one we find ourselves in. Bottom line But as painful as it may be right now, the one thing history tells us is what always follows a bear market is a bull market.

☆ Euro sculpture in Frankfurt rescued by crypto firm
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

The Euro sign by German artist Ottmar Hoerl is photographed after "Caiz development" company announced its sponsorship for the conversation of the landmark in Frankfurt, Germany, September 27, 2022. REUTERS/Kai PfaffenbachRegister now for FREE unlimited access to Reuters.com RegisterFRANKFURT, Sept 27 (Reuters) - A giant blue euro sculpture in the heart of Frankfurt's financial district has a new benefactor: The firm behind a sharia-compliant cryptocurrency. Register now for FREE unlimited access to Reuters.com RegisterThe sponsor is the technology developer Caiz, a Frankfurt-based company whose Caizcoin conforms to the principles of Islamic finance and laws. The sculpture was constructed to much fanfare in 2001, shortly ahead of the launch of euro notes and coins. Register now for FREE unlimited access to Reuters.com RegisterReporting by Marta Orosz; Writing by Tom Sims; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: The structure of the planned Porsche IPO
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +3 min

- Shares in Porsche AG are expected to start trading on Frankfurt's stock exchange on Sept. 29. - Volkswagen's proceeds from the sale of ordinary and preferred shares will be between 18.1 billion and 19.5 billion euros. - Volkswagen AG and Porsche SE will jointly own all of Porsche AG's ordinary shares in a 75% minus one share-25% plus one share split. - Overall, 75% minus one ordinary share of Porsche AG's total share capital will be owned by Volkswagen AG after the IPO. - Porsche SE will own 12.5% plus one ordinary share of Porsche AG's total capital while Qatar will own 2.5%.

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