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☆ China EV maker BYD to build first Europe plant in Hungary -FAS
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +1 min

Companies BYD Co Ltd FollowFRANKFURT, Nov 4 (Reuters) - Chinese electric vehicle giant BYD (002594.SZ), plans to build its first European car factory in Hungary, a German newspaper reported on Saturday. The Frankfurter Allgemeine Sonntagszeitung (FAS), citing unnamed sources close to BYD, said the decision had already been made internally. A government website in Shenzhen, where BYD is headquartered, posted an article last month saying that Hungarian Prime Minister Viktor Orban met BYD Chairman and President Wang Chuanfu on a visit to the company. BYD, contacted by Reuters, said that it was still looking for the right location and would make an announcement at the end of the year. Reporting by Brenda Goh, Jason Xue, Krisztina Than, and Tom Sims; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Viktor Orban, Wang Chuanfu, Brenda Goh, Jason Xue, Tom Sims, Jason Neely Organizations: BYD, FRANKFURT, Frankfurter Allgemeine Sonntagszeitung, Reuters, Thomson Locations: Hungary, BYD, Shenzhen, Hungarian

☆ Fresenius to assess whether state aid impacts bonus, dividend payouts
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +2 min

Companies Fresenius SE & Co KGaA FollowFRANKFURT, Sept 30 (Reuters) - German healthcare group Fresenius (FREG.DE) said it was examining whether the state aid it received to help offset high energy costs at its hospitals business would bar it from making management bonus and dividend payments. When asked whether the company would legally challenge any ban on payouts, he said that would have to be analysed. The company paid an unchanged annual dividend of 0.92 euros a share this year, or 518 million euros in total. The spokesperson said the assessment would inform a decision on whether state aid will be accepted during the second half. The Helios unit posted earnings before interest and tax of 622 million euros in the first half against 609 million a year earlier.

Persons: Michael Sen, Sen, Helios, Ludwig Burger, Jan Harvey Organizations: Frankfurter Allgemeine, Reuters, Helios, Thomson Locations: FRANKFURT

FRANKFURT, Jan 31 (Reuters) - A top-10 shareholder of Bayer (BAYGn.DE) on Tuesday called on the group's supervisory board head to replace chief executive Werner Baumann quickly, adding to investor pressure to restore trust and revive the German drugmaker's sagging share price. But shareholders have also cited a lack of market trust in its top management as a growing burden. "When it comes to CEO succession we say: the sooner the better," Markus Manns, a portfolio manager at Union Investment, one of Bayer's 10 biggest shareholders, told Reuters. Union Investment's Manns cautioned that the non-executive supervisory board may need time to find a qualified candidate. A Bayer spokesperson said the company was always open to a constructive dialogue with shareholders and declined to comment further.

☆ Bayer investor calls for swift replacement of CEO -newspaper
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Jan 28 (Reuters) - Bayer (BAYGn.DE) investor Deka has called for CEO Werner Baumann to be replaced ahead of his scheduled departure, adding to mounting pressure on the German drugmaker. "There is a window of opportunity for Chairman Norbert Winkeljohann to act before the annual general meeting at the end of April. He has to seize that opportunity, otherwise the pressure on him will increase as well," Speich added. "Generally speaking we are always open to a constructive dialogue with our stakeholders," a Bayer spokesperson said, declining to comment specifically on the interview. Another activist investment fund, hedge fund veteran Jeffrey Ubben's Inclusive Capital Partners, said this month it had also acquired a stake in Bayer.

☆ Uniper CEO: complete repayment of billions in state aid 'ambitious'
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

Companies Uniper SE FollowBERLIN, Dec 23 (Reuters) - Uniper (UN01.DE) Chief Executive Klaus-Dieter Maubach is sceptical that the embattled German utility will be able to repay billions of euros in state aid in full, according to the Frankfurter Allgemeine Sonntagszeitung newspaper. This would be "a very ambitious goal," Maubach told the paper in comments set to be published on Sunday. He said that since the beginning of December, daily losses have been close to 70 million euros ($74 million), with the last few days coming in slightly below that figure. Germany completed the nationalization of Uniper earlier this week after the European Commission approved a 34.5 billion euro recapitalisation plan and Uniper shareholders also gave the green light. ($1 = 0.9432 euros)Reporting by Anneli Palmen Writing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

"Logica rămâne aceeaşi: segmentul de top promite cea mai bună marjă de profit", a spus şeful Daimler. EQS va fi primul model Mercedes produs pe o platformă dedicată exclusiv vehiculelor electrice, o piatră de hotar pentru grupul german, criticat pentru că a trecut prea lent la fabricarea maşinilor electrice. Va avea o autonomie de 770 de kilometri, depăşind alte modele electrice, susţine Kallenius. "Acest obiectiv s-ar putea realiza mai devreme, ţinând cont de ritmul dinamic înregistrat în prezent", a declarat şeful Daimler. Acest plan privind emisiile de carbon va fi realizat prin îmbunătăţirea semnificativă a eficienţei energetice, folosirea energiei eoliene, solare, a valurilor şi folosirea biogazului.

Persons: Mercedes EQS, EQS Organizations: Mercedes, Daimler Locations: Europa, România, Cugir

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