DIRS.INFO The most relevant business & tech news

☆ Airbus CEO details broad post-crisis industrial hurdles
▼ + stars: | 2022-12-08 | by ( Tim Hepher | ) www.reuters.com time to read: +3 min

[1/2] Airbus CEO Guillaume Faury speaks during a visit of German Economy and Climate Protection Minister Robert Habeck at Airbus research facilities in Hamburg, Germany, January 18, 2022. Airbus (AIR.PA) Chief Executive Guillaume Faury said the situation had also been aggravated by recent COVID restrictions leading to capacity closures in China, a major supplier. "There is an enormous problem in bringing the industrial supply chain back to strength worldwide, in the aviation world but not only in aviation," Faury told French journalists. "There is a lot of interdependence between the aerospace supply chain and electronic cards and components, raw materials and the availability of energy and skills at a worldwide level," Faury told the AJPAE French aerospace media association. Airbus assembles some aircraft and derives a large proportion of parts from suppliers in the United States.

But a new U.S. law offering hefty subsidies to local manufacturers of green technology has given the company pause for thought. That is roughly four times what the German government is offering, he said, with cheaper energy prices in the United States on top. The act introduces tax credits related to investment in green technology, plus tax breaks for consumers buying an electric vehicle or other green product made in North America. German carmakers and suppliers, for which the United States is a main export market, are among its biggest victims. "If we don't do anything, a lot will emerge in the United States," said Siemens Energy (ENR1n.DE) Chief Executive Christian Bruch.

☆ Volkswagen says all brands have halted paid activities on Twitter
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Volkswagen logo is pictured in a production line at the Volkswagen plant in Wolfsburg, Germany March 1, 2019. REUTERS/Fabian BimmerBERLIN, Nov 23 (Reuters) - Volkswagen's (VOWG_p.DE) brands have halted all paid activities on Twitter until further notice, a spokesperson for the company said on Wednesday. A spokesperson for Volkswagen said all the brands had followed the advice, while Audi had opted to halt organic activities, such as direct posts, and only respond to questions from clients on the website. WirtschaftsWoche had previously reported that Audi had halted all activities on the social media platform, citing company sources. "We are monitoring the situation closely and will decide on the next steps depending on developments," an Audi spokesperson added in an emailed statement to Reuters.

☆ Germany's LNG terminals to cost more than double earlier estimate
▼ + stars: | 2022-11-20 | by ( Megan Rowling | ) www.reuters.com time to read: +1 min

[1/2] General view of the new floating LNG gas terminal, which allows Germany to import LNG via ship from other countries, in the harbour in Wilhelmshaven, Germany, November 15, 2022. Overall, the costs are estimated at about 6.56 billion euros, the ministry said, confirming a report in Der Spiegel. That compares with 2.94 billion euros estimated in the country's 2022 budget. The ministry said the floating terminals were essential for Europe's biggest economy to compensate for a collapse in deliveries of Russian gas since Moscow's invasion of Ukraine. Germany this month completed the construction of its first floating terminal for LNG at the North Sea port of Wilhelmshaven.

☆ Euro zone trade gap smaller than expected, Russia deficit surges
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +2 min

Economists polled by Reuters had expected the deficit to reach 44.5 billion euros in September. Adjusted for seasonal factors, the trade gap was even slightly higher at 37.7 billion euros, though declining from 47.6 billion euros in August and 40.5 billion euros in July. In the first eight months of this year, the deficit with Russia was 115.0 billion euros. The EU's deficit in energy trade rocketed to 491.4 billion in the first nine months of this year from 179.6 billion in the same period of 2021. The trade gap with China, Europe's biggest trading partner, almost doubled to 300.2 billion euros in the January-September period from 166.5 billion euros in the same period a year earlier.

☆ Daimler Truck's Q3 unit sales jump as chip shortage eases
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Fabian BimmerBERLIN, Nov 11 (Reuters) - Daimler Truck reported a 27% jump in third-quarter unit sales to nearly 135,000 units on Friday, as the chip shortage that hit the heavy truck business particularly hard a year earlier began to ease. The jump in earnings was highest in Europe at 316% from the same quarter last year compared to 111% in North America, traditionally Daimler Truck's strongest market. In Asia, however, where a depressed Chinese market prompted the company to lower its regional adjusted earnings margin last quarter to 1-3% from 3-5%, earnings fell 63% even as revenues and unit sales increased. Sales of Daimler Buses, which did not grow at all in 2021, were up 18% this year so far, with earnings more than tripling to 23 million euros ($23.51 million). ($1 = 0.9785 euros)Reporting by Victoria Waldersee, Ilona Wissenbach Editing by Miranda Murray and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

☆ Deutsche Telekom raises guidance after bumper Q3
▼ + stars: | 2022-11-10 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: A woman carrying her phone passes by the logo of German telecommunication company "Deutsche Telekom" at the ITS World Congress 2021, a fair for intelligent transport systems, in Hamburg, Germany, October 13, 2021. REUTERS/Fabian BimmerBERLIN (Reuters) -Deutsche Telekom nudged up its full-year guidance on Thursday as the U.S. dollar’s appreciation helped buoy third-quarter profit and its T-Mobile US business added customers. “We are once again proving to be an anchor of stability in difficult times,” said Tim Hoettges, chairman of Deutsche Telekom’s management board. In organic terms, Telekom expected full-year adjusted EBITDA AL to come in at more than 37.0 billion euros, up from previous guidance of around 37.0 billion. T-Mobile US now expects to unlock synergies from its merger with Sprint of $5.7-5.8 billion this year, up from previous guidance of $5.4-5.6 billion, Telekom said.

☆ German industrial orders drop in Sept on foreign demand slump
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: 1 min

[1/2] A worker at German manufacturer of silos and liquid tankers, Feldbinder Special Vehicles, moves rolls of aluminium at the company's plant in Winsen, Germany, July 10, 2018. REUTERS/Fabian BimmerBERLIN, Nov 4 (Reuters) - German industrial orders fell more than expected in September, weighed down by a sharp fall in foreign demand, data showed on Friday. New orders fell by 4.0% on the month on a seasonally and calendar adjusted basis, the Federal Statistics Office said. While domestic orders increased by 0.5%, foreign orders decreased by 7.0%. A Reuters poll of analysts had pointed to a fall of 0.5% in September.

☆ U.S. cautioned Germany against a Chinese controlling stake in Hamburg port
▼ + stars: | 2022-11-02 | by ( Humeyra Pamuk | Lewis Jackson | ) www.reuters.com time to read: +3 min

[1/2] Cargo ship 'Cosco Shipping Gemini' of Chinese shipping company 'Cosco' is loaded at the container terminal 'Tollerort' in the port in Hamburg, Germany, October 25, 2022. REUTERS/Fabian BimmerMUNSTER, Germany, Nov 2 (Reuters) - The United States cautioned Germany against allowing China to obtain a controlling stake in a Hamburg port terminal, a senior U.S. State Department official said on Wednesday, in a deal that has been seen as a gauge of how far Germany is willing to toughen its stance on its top trading partner. By pushing the stake under 25%, the deal no longer officially requires Cabinet approval, which would have been hard to muster from the Greens and liberal-run ministries. The document points to "considerable risks that arise when elements of the European transport infrastructure are influenced and controlled by China - while China itself does not allow Germany to participate in Chinese ports." Reporting by Humeyra Pamuk in Munster, Germany; writing by Daphne Psaledakis in Washington; Editing by Jonathan Oatis and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. 'strongly suggested' there be no controlling interest by China in Hamburg port terminal
▼ + stars: | 2022-11-02 | by ( Humeyra Pamuk | ) www.reuters.com time to read: +3 min

[1/2] Cargo ship 'Cosco Shipping Gemini' of Chinese shipping company 'Cosco' is loaded at the container terminal 'Tollerort' in the port in Hamburg, Germany, October 25, 2022. REUTERS/Fabian BimmerMUNSTER, Germany, Nov 2 (Reuters) - The United States “strongly suggested” that there be no controlling interest by China in a Hamburg port terminal, a senior U.S. State Department official said, adding that the final deal was adjusted in the end with a smaller share for Beijing. “The embassy was very clear that we strongly suggested that there’d be no controlling interest by China, and as you see when they adjusted the deal, there isn’t," a second senior State Department official said. The document points to "considerable risks that arise when elements of the European transport infrastructure are influenced and controlled by China - while China itself does not allow Germany to participate in Chinese ports." Reporting by Humeyra Pamuk in Munster, Germany Writing by Daphne Psaledakis in Washington; Editing by Jonathan Oatis and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Summary Energy prices continue to drive inflationBut "core" inflation accelerates as wellSome fear interest rate hikes could make slowdown worseBRUSSELS, Oct 31 (Reuters) - Euro zone inflation surged more than expected in October, data showed on Monday, fuelling expectations that the European Central Bank will press on with big interest rate hikes despite economic growth slowing. Some economists saw that continued growth as creating space for the central bank to keep taking strong inflation-fighting steps. The growth is important because many economists believe the ECB would not want to keep raising rates during an expected euro zone recession, heralded by the growth slow-down in the July-September compared with the 0.8% quarterly and 4.3% year-on-year growth in the April-June period. The surging inflation and slowing growth are mainly the result of Russia's invasion of Ukraine and the subsequent disruption of Russian gas deliveries to Europe. That has driven up energy prices and broader inflation, triggered rate rises and lead to a slowing of economic activity and falling confidence.

☆ Daimler Truck begins producing Mercedes-Benz branded trucks in China
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +1 min

Visitors surround an Actros truck of German truck maker Mercedes-Benz at the IAA truck trade fair in Hanover, Germany September 19, 2018. REUTERS/Fabian Bimmer/File PhotoBERLIN, Sept 23 (Reuters) - Daimler Truck (DTGGe.DE) has begun producing Mercedes-Benz branded trucks in China, with the first vehicles rolling off production lines at its joint plant with China's Foton Motor Co (600166.SS) in Beijing on Friday, the truck and bus maker said. China is the world's biggest market for heavy trucks, with around 1.5 million units sold in 2021 - more than in the U.S., Japan and Europe combined, according to data from German car association VDA. Daimler Truck has so far only produced the joint venture's brand, Auman, in China, while selling Mercedes-Benz trucks imported from Germany at a higher price. A document seen by Reuters in 2020 on plans for the revamp of the joint plant to begin heavy truck production said the target was to produce 50,000 Actros trucks a year.

☆ German oil imports up 13.5% in January-July period; bill more than doubles
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterOil depots are pictured in the harbour in Hamburg, Germany, March 8, 2022. Russia remained the top supplier, holding a 30.5% share of Germany's oil imports in the period, monthly statistics from the BAFA foreign trade office showed. Oil imports in January through July from all origins increased to 51.0 million tonnes, from 44.9 million in the same months of 2021, BAFA said. Germany spent 35.9 billion euros ($35.07 billion) on crude oil imports in the first seven months of 2022, 100.6% more than the comparable year-earlier period. ($1 = 1.0235 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Vera Eckert and Nerijus Adomaitis; editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Airbus says bigger A220 jetliner makes sense at right time
▼ + stars: | 2022-09-23 | by ( Tim Hepher | ) www.reuters.com time to read: +3 min

Airbus CEO Guillaume Faury speaks during a visit of German Economy and Climate Protection Minister Robert Habeck at Airbus research facilities in Hamburg, Germany, January 18, 2022. A stretched version of the lightweight Canadian-designed airplane makes a lot of sense, "but we don't want to be right too early", Chief Executive Guillaume Faury told investors. Airbus has seized a commanding lead in the main part of the single-aisle market, most recently through the larger A321neo which Asam said would have an increasing proportion of sales. However, the industry's biggest single-aisle variant, the delayed A321XLR, is not emerging as quickly as Airbus hoped. Improvements in the range of the largest single-aisle jets like the A321neo have eaten into the lower end of the market traditionally reserved for bigger wide-body jets, where Boeing has for decades widely been seen as the market leader.

☆ EU watchdog proposes emergency brake on energy markets
▼ + stars: | 2022-09-22 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

REUTERS/Fabian BimmerLONDON, Sept 22 (Reuters) - A temporary brake on gas and electricity derivatives when prices spike could improve the overall functioning of the energy market, the European Union's securities watchdog proposed on Thursday. "It would, therefore, appear useful to consider implementing, on a temporary basis and for energy derivative markets only, a new type of trading halt mechanism," ESMA said in a statement. Such a mechanism would need to be implemented as part of emergency measures tackling the current energy crisis, it added. Energy firms sell their output using derivatives markets, requiring them to post "margin" in the form of cash, in practice, to cover positions at clearing houses in case they turn sour. ESMA said such conditions include a time limit on their use, such as for the winter period when stresses in energy markets are expected to continue.

☆ Iveco showcases prototype of large hydrogen van developed with Hyundai
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

The logo of Italian truck maker Iveco is pictured at the IAA truck show in Hanover, September 26, 2014. REUTERS/Fabian BimmerMILAN, Sept 19 (Reuters) - Italy's Iveco (IVG.MI) showcased on Monday a prototype of the hydrogen powered eDaily large van it has developed with Hyundai Motor (005380.KS), the first tangible outcome of a wider partnership between the two manufacturers. Iveco and South Korea's Hyundai Motor in March signed a preliminary deal to explore cooperating on shared vehicle technology, joint sourcing and mutual supply. read moreIn July, they said Iveco would equip its future hydrogen-powered buses in Europe with fuel-cell systems designed by Hyundai's hydrogen mobility brand HTWO. Iveco added that Hyundai was also considering sourcing opportunities from FPT Industrial in the area of next generation conventional powertrains for commercial vehicles.

☆ Rejecting Chinese bid would put Hamburg port at disadvantage, mayor says
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterA container of China Shipping is loaded at a loading terminal in the port of Hamburg Germany July 27, 2018. REUTERS/Fabian BimmerBERLIN, Sept 19 (Reuters) - Germany would put its port of Hamburg at a competitive disadvantage if it quashed a bid from China's Cosco to buy a stake in a container operator, the port city's mayor said. A rejection would be "a one-sided, competition-distorting disadvantage for Hamburg compared to Rotterdam and Antwerp, where Cosco already owns terminal shares," Mayor Peter Tschentscher told Reuters. "In order to keep up with international competition, it must also be possible for shipping companies to participate in terminals in Hamburg if this makes business sense," Tschentscher added. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Andreas Rinke Writing by Miranda Murray and Rachel More Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "FABIAN BIMMER"

17 mentions found