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☆ Infineon raises full-year guidance
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

BERLIN, May 4 (Reuters) - German chipmaker Infineon (IFXGn.DE) raised its full-year guidance on Thursday, citing strong demand from the electromobility, renewable energy generation and energy infrastructure sectors. Infineon now sees full-year revenues of 16.2 billion euros ($17.96 billion)- plus or minus 300 million - compared with its previous forecast for 15.5 billion and with analyst consensus for 16.1 billion. The group, whose chips are used in cars and data centres, had in February already lifted its full-year forecast on strong demand from carmakers, which are restocking inventories following a global chip glut, leading to higher prices. Shares in Infineon rose 1% in early Frankfurt trade. ($1 = 0.9021 euros)Reporting by Maria Sheahan, editing by Kirsti KnolleOur Standards: The Thomson Reuters Trust Principles.

☆ Harley-Davidson's focus on bread-and-butter business can lift the stock by more than 30%, Morgan Stanley says
▼ + stars: | 2023-03-21 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

It's worth hopping on Harley-Davidson due to the company's focus on the core business and better-off consumer, according to Morgan Stanley. His price target of $50 implies the stock could gain 33.2% from where it closed Monday. HOG YTD mountain Harley-Davidson Jonas also said he's increased his optimism given Chairman and CEO Jochen Zeitz's focus on generating cash flow from the core motorcycle business, while simultaneously managing risks related to spun-off electric motorcycle maker LiveWire . Jonas said Zeitz's business has a "back to basics" approach that's proving useful amid lingering supply chain challenges and a changing consumer spending outlook. He said the 2022 spinoff of LiveWire allows Harley-Davidson to focus on perfecting its bread-and-butter business and catering to the core base rather than trying to expand reach.

☆ Short-term reconstruction of Ukraine immediate priority for Germany, says state secretary of the BMZ
▼ + stars: | 2023-02-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShort-term reconstruction of Ukraine immediate priority for Germany, says state secretary of the BMZJochen Flasbarth, state secretary of the German Federal Ministry for Economic Cooperation and Development, discusses what the country is doing to support Ukraine.

☆ Infineon Q1 revenue comes in slightly below expectations
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Feb 2 (Reuters) - Infineon (IFXGn.DE), a leading supplier of microchips to the auto industry, on Thursday bumped up its segment result margin outlook for fiscal 2023 to adjust for currency effects as it came in slightly below revenue expectations for its first quarter. The Munich-based company's revenue fell 5% from the previous quarter to 3.95 billion euros ($4.35 billion) in the quarter ending Dec. 31, slightly under the 4 billion euros expected in a poll of analysts by Vara Research published on Jan. 24. Infineon's segment result margin rose to 28.0% from 25.5% the previous quarter, beating expectations of 24.7%. Infineon also said investments for the full year are still expected to amount to approximately 3 billion euros. For the second quarter, Infineon expects revenue of around 3.9 billion euros and a segment result margin of around 25%.

[1/2] Two sportsmen sail near an offshore wind turbine of the Siemens Gamesa company is seen from the Telde coast on the island of Gran Canaria, Spain, May 2, 2022. REUTERS/Borja SuarezFRANKFURT/MADRID, Feb 2 (Reuters) - Beleaguered wind turbine maker Siemens Gamesa (SGREN.MC), soon to be delisted and folded into parent Siemens Energy (ENR1n.DE), said on Thursday its first-quarter net loss more than doubled on higher warranty provisions as a result of faulty components. The net loss in the October-December period, Siemens Gamesa's fiscal first quarter, widened to 884 million euros ($974 million) from 403 million in the same period last year, the company said. "The negative development in our service business underscores that we have much work ahead of us to stabilize our business and return to profitability," said Siemens Gamesa Chief Executive Jochen Eickholt, who joined from Siemens Energy last year. Still, Siemens Gamesa confirmed the outlook for the wind industry remained good, pointing to the U.S. Inflation Reduction Act as well as the continent's RePowerEU programme aimed at ditching fossil fuels.

☆ Siemens Energy cuts profit outlook as Siemens Gamesa woes continue
▼ + stars: | 2023-01-19 | by ( Christoph Steitz | ) www.reuters.com time to read: +3 min

SummarySummary Companies Siemens Gamesa reveals higher warranty, maintenance costsProblems trigger 472 mln euro hit in Q1Parent Siemens Energy cuts 2023 profit outlookFrankfurt-listed Siemens Energy shares fall 4.8%FRANKFURT, Jan 19 (Reuters) - Siemens Energy on Thursday slashed its 2023 profit outlook after faulty components at the wind turbine fleet of its Siemens Gamesa unit led to higher warranty and maintenance costs, marking the latest setback in the group's troubled relationship. Siemens Energy shares were down 4.8% in late Frankfurt trade. Siemens Gamesa earlier reported a 760 million euro ($823 million) loss before interest and tax pre-purchase price allocation and before integration and restructuring costs for the first quarter, including a 472 million euro charge. Siemens Gamesa Chief Executive Jochen Eickholt, who joined the Spanish-listed firm from Siemens Energy last year, has already announced far-reaching job cuts and pledged to turn around the loss-making firm, the world's top maker of offshore wind turbines. Siemens Energy kept its outlook for sales excluding currency translation and portfolio effects, still expecting them to grow by 3%-7%.

☆ After New Year's Eve violence, German police union calls for action
▼ + stars: | 2023-01-04 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

Germany’s biggest police union called Tuesday for concerted action to prevent a repeat of the violent excesses seen in Berlin and other cities during the New Year’s celebrations, in which officers, firefighters and medical personnel were attacked with fireworks. Police in the capital recorded dozens of attacks and said 41 officers were injured. Online videos showing people firing rockets and throwing firecrackers at police cars and rescue vehicles drew widespread condemnation from German authorities. Some conservative and far-right politicians have noted that some of the attacks took place in areas of Berlin with large immigrant communities. Experts say the absence of such a ban may have contributed to the scale of violence and large number of fireworks injuries — including at least one death — seen this year.

☆ Infineon ready to spend billions on acquisitions - CEO
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +1 min

MUNICH, Dec 28 (Reuters) - Infineon (IFXGn.DE) is ready to spend several billion euros on the right takeover target as it searches for acquisitions, Chief Executive Jochen Hanebeck said in an interview published on Wednesday. The German chip maker is constantly "on the lookout" for suitable companies, Hanebeck told Frankfurter Allgemeine Zeitung (FAZ). "I see it in the range of up to a few billion (euros)." In its fiscal year through September 2022, Infineon posted a rise in revenue by nearly 30% to 14.2 billion euros ($15.1 billion), while segment profit jumped 63% to 3.4 billion euros. It is quite conceivable that start-ups that are not sufficiently well financed, for example, would want to join a corporation, Hanebeck told FAZ.

☆ European shares muted, UK outperforms as China-exposed stocks jump
▼ + stars: | 2022-12-28 | by ( Bansari Mayur Kamdar | ) www.reuters.com time to read: +3 min

The region-wide STOXX 600 (.STOXX) was flat as of 9:31 GMT, while the FTSE 100 <.FTSE> advanced 0.7% as commodity-linked and China-exposed stocks jumped in early trading. The UK market, which was closed for holidays since its half-day trading on Friday, is playing catch-up, analysts said. The FTSE 100 index has benefited this year from its exposure to commodities as prices of oil and base metals have rallied amid the Russia-Ukraine war. Meanwhile, STOXX 600 was headed for an annual loss of 12.2% as concerns about an economic recession due to aggressive monetary policy tightening by central banks globally weighed on the European index. The technology sector (.SX8P) weighed on STOXX 600 on Wednesday, tracking the overnight fall in U.S. peers as rising yields pressured the interest rate sensitive shares, a recurring theme this year.

☆ Siemens Gamesa names Luijendijk CEO of onshore wind unit
▼ + stars: | 2022-12-20 | by ( Andres Gonzalez | ) www.reuters.com time to read: +1 min

Companies Siemens Gamesa Renewable Energy SA FollowLONDON, Dec 20 (Reuters) - Wind turbine maker Siemens Gamesa (SGREN.MC) has appointed its Asia Pacific boss Richard Luijendijk as chief executive of its onshore unit as it seeks to turn around the business, a memo signed by Siemens Gamesa CEO Jochen Eickholt showed. Luijendijk will replace Lars Bondo Krogsgaard, whose departure was announced in October, with the company saying in an email to staff it needed a "change due to the losses in the onshore business and the continuous underperformance." A Siemens Gamesa spokesperson declined to comment. "I want us to move away from silo thinking and for us to believe in the turnaround", Luijendijk said in the memo. ($1 = 0.9420 euros)Reporting by Andres Gonzalez, editing by Pamela Barbaglia and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

This week she was arrested in a raid as part of a group suspected of plotting to violently overthrow the German government. Prosecutors have said the 58-year-old, a member of the far-right Alternative for Germany (AfD) party, was to become justice minister in a new state headed by aristocrat Heinrich XIII Prinz Reuss after the coup. The AfD said in a statement on Wednesday that it condemned the efforts of the suspected plotters. The inscription 'To the German people' is written above the entrance to the Reichstag building, the seat of Germany's lower house of parliament Bundestag, in Berlin, Germany December 9, 2022. Nationwide it is polling at 14%, making it the most successful far-right party in Germany since World War Two.

☆ Germany's housing market is ripe for a serious price correction, economists warn
▼ + stars: | 2022-12-05 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +6 min

"The housing market is softening significantly," he said, citing a strong decrease in demand for loans and a drop in housing construction. watch nowAnd while the language used may vary, many analysts are forecasting a dip in Germany's housing market. A Reuters poll of property market experts last month anticipated German house prices would fall by 3.5% next year. A 'vulnerable' market But not all financial institutions agree that Germany's property market is set for a large correction. The labor market is key Moves in the labor market will determine how the property market shifts, according to some analysts.

☆ World’s ‘oldest meal’ discovered in 550-million-year-old fossil
▼ + stars: | 2022-11-25 | by ( Toyin Owoseje | ) edition.cnn.com time to read: +3 min

CNN —An international team of scientists say they have new insight into how the very earliest animals survived after traces of what they described as the world’s oldest meal were found in a 550 million-year-old fossil. Some of the oldest life on Earth is referred to as the Ediacaran biota. This group is based on the earliest fossils ever discovered, providing evidence of complex, multicellular organisms. Nearly all fossils that came before the Ediacaran biota were single-celled and microscopic in size,” Brocks said, according to a press release. Dr. Bobrovskiy said the findings are helping scientists track the evolution of the earliest animals, and how they relate to their descendants today.

☆ German property market will slow — but no significant correction ahead, central bank says
▼ + stars: | 2022-11-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Germany's central bank is predicting a slowdown but no significant correction in the country's property market despite warnings of overvaluation, according to a report published Thursday. Some analysts, including at Deutsche Bank, have forecast a sharp decline for the sector. The German market has a high share of fixed-rate mortgages so households are less vulnerable to rising interest rates than in some other countries, she continued. It says there has been no fundamental reassessment of credit risk in German banks so far but says its financial system is "vulnerable to adverse developments." "The message is very clear, we need a resilient financial system, we need to keep building up resilience over the next period of time," Buch told CNBC.

☆ The energy transition will fail unless industry fixes wind power issues, Siemens Energy CEO says
▼ + stars: | 2022-11-17 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +3 min

Paul Ellis | AFP | Getty ImagesThe CEO of Siemens Energy on Wednesday argued that the energy transition would fail unless his industry addressed a number of issues currently facing the wind power sector. On Wednesday, Siemens Energy said its "overall performance" had been "held back by the negative development at Siemens Gamesa Renewable Energy, " a wind turbine manufacturer in which it has a majority stake. In a statement, Siemens Energy said its adjusted earnings before interest, taxes, and amortization — and special items — had fallen to 379 million euros (around $393.8 million) compared to 661 million euros for the 2021 fiscal year. Siemens Energy posted a net loss of 647 million euros against a 560 million euro loss in the previous year but also reported a record order backlog of 97.4 billion euros. "And to be crystal clear, [the] energy transition without wind energy does not work."

☆ More chip production needed in Europe, Infineon CEO says
▼ + stars: | 2022-11-15 | by ( Christina Amann | ) www.reuters.com time to read: +2 min

MUNICH, Nov 15 (Reuters) - Infineon Technologies AG (IFXGn.DE) Chief Executive Jochen Hanebeck supports contract manufacturers building more chip factories in Europe to reduce his company's reliance on suppliers in Asia, he told Reuters on Tuesday. "We would very much welcome even more capacity being established in Europe," Hanebeck said in an interview, adding he was particularly interested in chips in the range of 28 to 12 nanometres. At German chipmaker Infineon, about 15% of total production volume currently comes from Taiwan, and some components are sourced exclusively in the east Asian island state. The Commission wants to use the money to double Europe's share of the highly competitive chip market by 2030. Infineon said on Monday it was planning a new 5-billion-euro factory in the eastern German city of Dresden to expand its 300-millimetre production capacities.

He said any new strategy should not require new finance from donor countries or for the banks to accept a lower credit rating. Kerry said if the World Bank and regional development banks could increase their lending by the hundreds of billions of dollars, it could leverage trillions in capital from the private sector and other sources. These calls intensified after World Bank President David Malpass in September initially declined to say at a public event whether he accepts the scientific consensus on global warming, which drew condemnation by the White House. Kerry said he would work with German State Secretary for Economic Cooperation and Development Jochen Flasbarth to develop the plan. "We just need a leadership that's ready to stand up, do what the laws allow," he said.

☆ Investors switch into Porsche AG from Volkswagen on debut day
▼ + stars: | 2022-09-29 | by ( Danilo Masoni | ) www.reuters.com time to read: +2 min

MILAN, Sept 29 (Reuters) - Porsche AG shares rallied on their Frankfurt market debut on Thursday as traders dumped holdings of its controlling companies to grab a slice in the newly listed supercar manufacturer. Register now for FREE unlimited access to Reuters.com Register"There seem to be shifts from Volkswagen into Porsche AG," said Jochen Stanzl, analyst at online broker CMC Markets. Porsche AG shares traded at a premium of as much as 5.2% to their IPO price of 82.5 euros at one point. Shares in top shareholders Volkswagen (VOWG_p.DE) and Porsche Automobil Holding SE (PSHG_p.DE) were last down 5% and 8% respectively. Porsche AG was by far the most traded stock by volume on Thursday on Lang & Schwartz's platform, indicating interest from individual investors, too.

☆ Siemens Gamesa to cut 2,900 jobs as part of its turnaround
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

MADRID, Sept 29 (Reuters) - Wind turbine maker Siemens Gamesa (SGREN.MC) plans to cut 2,900 jobs, mostly in Europe, as part of a plan to return to profitability, it said in a statement on Thursday. Siemens Gamesa has done an organisational review to identify synergies across several functions, and to adjust the manufacturing footprint and capacity to match market demands, the company said. "Around 2,900 positions will be impacted globally, particularly in Siemens Gamesa’s major European countries: Denmark (800), Germany (300), Spain (475) and the United Kingdom (50)," it said in its statement on Thursday. The deal awaits final approval from the market regulator in Madrid, where Siemens Gamesa was listed in 2017. Register now for FREE unlimited access to Reuters.com RegisterReporting by Emma Pinedo; Editing by Inti Landauro and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

A model of a wind turbine with the Siemens Gamesa logo is displayed outside the annual general shareholders meeting in Zamudio, Spain, June 20, 2017. REUTERS/Vincent West/MADRID/FRANKFURT, Sept 27 (Reuters) - Siemens Gamesa is aiming to fix major issues with its flagship onshore wind turbine model over the next three months, its CEO said, warning that 10-15 loss-making projects related to the troubled equipment would continue to be a drag until 2024. "The biggest thing really for us is to stabilize the 5.X project," Siemens Gamesa (SGREN.MC) CEO Jochen Eickholt told Reuters. read moreCompetition from newer entrants, particularly Chinese firms, has also squeezed Siemens Gamesa, especially in markets including Brazil and India, Eickholt said. The deal is awaiting final approval from the market regulator in Madrid, where Siemens Gamesa was listed in 2017. read moreIn the meantime, Siemens Gamesa has engaged in tough discussions with customers to raise selling prices, with some success, Eickholt said.

☆ Harley-Davidson EV spinoff Livewire starts trading via SPAC
▼ + stars: | 2022-09-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHarley-Davidson EV spinoff Livewire starts trading via SPACJochen Zeitz, Harley-Davidson chairman and CEO, joins 'Squawk on the Street' to discuss Harley-Davidson's EV spinoff Livewire, what Zeitz expects from Livewire's sales demand, and insights into Livewire's supply chain.

☆ Siemens Healthineers CFO: Demand for products remains strong despite economic uncertainty
▼ + stars: | 2022-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSiemens Healthineers CFO: Demand for products remains strong despite economic uncertaintyJochen Schmitz, CFO at Siemens Healthineers, discusses the resilience of the health care sector and the impact of China's "zero Covid" policy.

Dacă angajații și companiile vor cădea de acord asupra unor schimbări în acest sens, piața muncii va arăta total diferit față de acum un an. Formula „3-2-2”Trei zile la birou, două zile la distanță și două zile libere. Propunerea a fost înaintată încă din anii 1970 și a fost implementată sporadic în ultimele decenii. Scopul, spune el, este de a crea o nouă mentalitate privind productivitatea și de a încuraja flexibilitatea și menținerea unei stări de sănătate mai bună. Companiile vor trebui să gândească noi structuri de lucru și să coordoneze programele, fără ca afacerea să aibă de suferit pe parte de profitabilitate.

Persons: Lauren C Howe, Ashley Whillans, Whillans, Nick Bangs, Marc Effron Organizations: BBC, Harvard Business School, Unilever, The Talent Locations: China, american, Noua Zeelandă

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