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☆ Adecco Pledged to Find Jobs for 85,000 Refugees
▼ + stars: | 2024-02-14 | by ( Feb. | At A.M. | ) www.usnews.com time to read: 1 min

ZURICH (Reuters) - Adecco Group will help 85,000 refugees find jobs and train 17,000 people by the end of 2027, the staffing company said on Wednesday. The Swiss company said it was also launching a dedicated website to help refugees find jobs. "No one chooses to be a refugee. The pledge to help refugees was an increase from a promise made by Adecco in June 2023, when it said it wanted to find jobs for 50,000 refugees and provide technical and language training for 10,000. Photos You Should See View All 22 Images(Reporting by John Revill, editing by Kirsti Knolle)

Persons: Christoph Catoir, Adecco, John Revill, Kirsti Knolle Locations: ZURICH, Swiss

☆ Germany Can Cut Funding to Far-Right Party, Rules Court
▼ + stars: | 2024-01-23 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

KARLSRUHE, Germany (Reuters) - Germany can cut off state funding to the successor party to the far-right NPD even though it is not banned, the Constitutional Court said on Tuesday in a landmark ruling which adds fuel to a debate about whether the nationalist AfD could be penalised. The court in Karlsruhe justified its decision by saying the National Democratic Party (NPD) and its successor, Die Heimat, aimed to impair or eliminate the country's democratic system. The ruling is being closely watched as mainstream politicians struggle to respond to a surge in support for the far-right Alternative for Germany (AfD), second in most polls with support of about 22%. Hundreds of thousands of people have taken to the streets across Germany protesting against the AfD after a report that some party members discussed policies such as mass deportations of people of foreign origin at a meeting of right-wing radicals. (Reporting by Ursula Knapp; Writing by Madeline Chambers; Editing by Kirsti Knolle)

Persons: Ursula Knapp, Madeline Chambers, Kirsti Knolle Organizations: Constitutional, National Democratic Party, NPD Locations: KARLSRUHE, Germany, Karlsruhe, Bundestag

☆ Deutsche Bank to review Postbank tech migration - Handelsblatt
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: 1 min

The logo of Deutsche Bank is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo Acquire Licensing RightsBERLIN, Dec 4 (Reuters) - Deutsche Bank's supervisory board has tasked its auditor EY with reviewing the Postbank IT integration, which has caused numerous customer complaints due to disruptions, Handelsblatt reported on Monday. The result could result in cuts to bonuses, the newspaper said, citing people familiar with the matter. A Deutsche Bank spokesperson declined to comment on the story. Reporting by Kirsti Knolle; Editing by Linda Pasquini and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Yves Herman, Handelsblatt, Kirsti Knolle, Linda Pasquini, Jan Harvey Organizations: Deutsche Bank, REUTERS, Rights, Deutsche, Thomson Locations: Brussels, Belgium

☆ Signa group's SportScheck retailer to file for insolvency - reports
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

'SportScheck' store is seen closed due to the coronavirus disease (COVID-19) pandemic in Munich, Germany, February 5, 2021. REUTERS/Michaela Rehle/File Photo Acquire Licensing RightsBERLIN, Nov 30 (Reuters) - German sporting goods retailer SportScheck, part of the debt-addled Austrian property empire Signa, will file for insolvency with a court in Munich on Thursday, the DPA news agency and other German media reported. The court was not immediately available for comment and SportScheck was not reachable. Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, making it the biggest casualty so far of a property crash in Europe driven by a sharp rise in interest rates and building costs. Reporting by Matthias Inverardi and Rachel More, editing by Kirsti KnolleOur Standards: The Thomson Reuters Trust Principles.

Persons: Michaela Rehle, SportScheck, Matthias Inverardi, Rachel More, Kirsti Organizations: REUTERS, Rights, Thomson Locations: Munich, Germany, Europe

Speaking to parliament, Scholz went into Germany's recent history of the COVID pandemic, the war in Ukraine and soaring energy prices to extend a suspension of self-imposed borrowing limits to tackle a crisis that has knocked his coalition. A constitutional court ruling nearly two weeks ago blocked the government's plans to reallocate unused pandemic funds towards green initiatives and industry support, raising fears Germany's economy could be further weakened. Scholz's assurances that his government would solve the budget crisis with care were met with jeers and laughter from the opposition Christian Democrats (CDU), whose lawsuit against the government had sparked the earlier court ruling. He underscored support for Ukraine, after the recent budget turmoil raised questions over how much military aid Berlin was willing to commit. "It is also clear that we must not let up in our support for Ukraine and in overcoming the energy crisis.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Friedrich Merz, Scholz, Germany's, Berlin, Scholz's, " Merz, Andreas Rinke, Christian Kraemer, Miranda Murray, Rachel More, Matthias Williams, Kirsti Knolle, Bernadette Baum Organizations: Climate, Christian Democratic Union, CDU, Bundestag, Christian Democrats, Ukraine, Finance, Thomson Locations: BERLIN, Ukraine, Germany, East Germany

☆ Exclusive: German court ruling could hit growth next year - econ ministry source
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 17 (Reuters) - A German court ruling that forced Berlin to freeze 60 billion euros ($65 billion) in planned green investment spending could have a negative impact on growth in Europe's biggest economy, an economy ministry source told Reuters on Friday. "According to initial rough estimates, a loss of investment funds could cause growth in 2024 to be about half a percentage point lower," the source, who is familiar with the economy ministry's forecasts, said. "So the ruling could have a negative impact on economic growth," the source added. Last month, the economy ministry predicted 1.3% growth for next year. The economy ministry is run by the Greens, who share power with Scholz's Social Democrats (SPD) and the pro-business Free Democrats (FDP).

Persons: Chancellor Olaf Scholz's, Christian Lindner, Andreas Rinke, Miranda Murray, Madeline Chambers, Sabine Wollrab Organizations: Greens, Scholz's Social Democrats, Free Democrats, Thomson Locations: Berlin, Europe's

☆ Eli Lilly plans to invest 2 bln euros in new German plant -source
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. REUTERS/Mike Segar/File Photo Acquire Licensing RightsCompanies Eli Lilly and Co FollowBERLIN, Nov 16 (Reuters) - U.S. pharma company Eli Lilly (LLY.N) plans to invest 2 billion euros ($2.17 billion) in a new plant in Alzey, western Germany, a source close to the negotiations told Reuters on Thursday. Separately, people familiar with the plans told Reuters that at least 1,000 jobs would be created. Reuters had reported on Wednesday that the pharma group intended to invest in Germany after Eli Lilly called a news conference for Friday but few details were available. ($1 = 0.9217 euros)Reporting by Andreas Rinke and Rene Wagner Writing by Madeline Chambers Editing by Kirsti Knolle and Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Eli Lilly, Mike Segar, Andreas Rinke, Rene Wagner, Madeline Chambers, Kirsti Knolle, Miranda Murray Organizations: Company, REUTERS, . pharma, Reuters, pharma, Thomson Locations: Branchburg , New Jersey, Alzey, Germany

[1/3] FILE PHOTO: German Chancellor Olaf Scholz looks on as he meets NATO's Secretary General Jens Stoltenberg in Berlin, Germany, November 9, 2023. Wednesday's decision by the constitutional court could also set a precedent for fiscal responses to future crises. "FAR-REACHING CONSEQUENCES""The court ruling has far-reaching consequences for fiscal policy in Germany," said Clemens Fuest, President of the Ifo economic institute. This was done with the Second Supplementary Budget Act 2021, which retroactively amended the Budget Act for 2021. The constitutional court ruled that this act was incompatible with Germany's Basic Law and so was void.

Persons: Olaf Scholz, Jens Stoltenberg, Liesa, Chancellor Olaf Scholz's, Christian Lindner, Lindner, Scholz, Robert Habeck, Clemens Fuest, Ralph Solveen, Habeck, Friedrich Merz, Maria Martinez, Christian Kraemer, Ursula Knapp, Matthias Williams, Kirsti Knolle, Madeline Chambers, Susan Fenton, William Maclean, Catherine Evans Organizations: REUTERS, Rights, Finance, Union, Social Democrats, Free Democrats, Christian Democratic Union, Thomson Locations: Berlin, Germany, Ukraine

☆ German government supports Siemens Energy with $8 bln guarantees
▼ + stars: | 2023-11-14 | by ( Christian Kraemer | ) www.reuters.com time to read: +3 min

Miniatures of windmill, solar panel and electric pole are seen in front of Siemens Energy logo in this illustration taken January 17, 2023. Private banks were expected to provide Siemens Energy with guarantees worth 12 billion euros while Siemens Energy would seek another 3 billion from other sources, the statement said, adding it was conditional on the final sign-off of all parties. "We are pleased with the German government's clear support for Siemens Energy and the commitment to the rapid implementation of projects to make the energy transition a success," Siemens Energy said in a statement. Shares in Siemens AG rose 2.7% at 1517 GMT on the deal while Siemens Energy shares were up 0.3%. Siemens AG, which spun off Siemens Energy in 2020, is also expected to provide support by buying most of the 24% stake Siemens Energy owns in Siemens Ltd (SIEM.NS), an Indian joint venture, sources have told Reuters.

Persons: Dado, Marco Buschmann, Buschmann, Christian Kraemer, Alexander Hübner, Christoph Steitz, Linda Pasquini, Madeline Chambers, Matthias Williams, Kirsti Knolle, David Evans Organizations: Siemens Energy, REUTERS, Rights, Siemens AG, Reuters, Siemens Ltd, Siemens, RTL, ntv, Thomson Locations: Indian

☆ Agrochemicals group Syngenta indicates $10 bln IPO likely next year
▼ + stars: | 2023-11-09 | by ( John Revill | ) www.reuters.com time to read: +2 min

A logo is seen at the headquarters of agricultural chemical maker Syngenta in Basel, Switzerland January 30, 2020. "Given weak market conditions we expect that the company will IPO by the end of next year," a company spokesman said on Thursday after Syngenta reported its Q3 earnings. The IPO update came as Syngenta, which competes with U.S. company Corteva (CTVA.N) and German firms BASF (BASFn.DE) and Bayer (BAYGn.DE), reported its latest earnings. Syngenta, which recently announced a change of chief executive and chief financial officer, has been pursuing an IPO for nearly two and half years. Syngenta was bought by ChemChina in 2017 for $43 billion and folded it into Sinochem Holdings Corp in 2021.

Persons: Arnd, Syngenta, John Revill, Kirsti Knolle, Robert Birsel Organizations: Syngenta, REUTERS, Rights, U.S, BASF, Bayer, Shanghai Stock Exchange, ChemChina, Sinochem Holdings Corp, Thomson Locations: Basel, Switzerland, Swiss, Brazil

☆ Signa founder Benko hands reins of property empire to Geiwitz
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

A view of the sign of Signa Holding on their headquarters in Vienna, Austria, November 6, 2023. Benko, an Austrian entrepreneur and a key figure in Europe's property market for two decades, is known for high-profile purchases including New York's iconic Chrysler Building and Britain's Selfridges. Some current and former investors - themselves titans of industry - have in recent days publicly lashed out at Benko, raising questions about his future role at Signa. What is important now is to restore trust, and I want to play my part in that," Benko said in the statement. Geiwitz is best known for his role in the insolvency proceedings of Germany's Galeria Kaufhof-Karstadt department stores and drug store chain Schlecker.

Persons: Leonhard Foeger, Rene Benko, Arndt Geiwitz, Fitch, Benko, Signa, Geiwitz, Germany's Galeria, Alexandra Schwarz, Tom Sims, Matthias Williams, Kirsti Knolle, Bernadette Baum Organizations: Signa, REUTERS, Rights, Chrysler, titans, Germany's, European Central Bank, Thomson Locations: Vienna, Austria, FRANKFURT, Germany, Austrian, Benko

Lufthansa reported third-quarter adjusted earnings before interest and tax (EBIT) of 1.47 billion euros ($1.56 billion), up 31% year-on-year and slightly above average expectations for 1.43 billion in an analyst consensus published on the company's website. Lufthansa said bookings for the fourth quarter were up by double-digit percentages year-on-year. Costs were 0.9% lower than the same quarter last year despite rising inflation, while net profits were at 1.2 billion euros. Next year, Lufthansa expects the amount of seating capacity available to fliers to increase further to around 95% of pre-pandemic levels. Capacity will increase to 91% of pre-pandemic levels in the fourth quarter, they said.

Persons: Carsten Spohr, Bernstein, Alex Irving, Maria Sheahan, Joanna Plucinska, Kirsti Knolle Organizations: Lufthansa, Thomson Locations: BERLIN

REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsBERLIN, Oct 5 (Reuters) - German industrial orders rose more than expected in August due to a strong increase in the manufacture of computer, electronic and optical products sector, data showed On Friday. Orders rose by 3.9% on the previous month on a seasonally and calendar adjusted basis, the federal statistics office said. The statistics office revised the July drop to 11.3% compared with June, from a provisional figure of -11.7%. In August, an increase of 37.9% on the month in the manufacture of computer, electronic and optical products drove the expansion in industrial orders. Foreign orders were up 3.9% on the month and domestic orders rose by 4.0%, the data showed.

Persons: Wolfgang Rattay, Rachel More, Maria Martinez, Kirsti Knolle, Christina Fincher Organizations: REUTERS, Rights, Thomson Locations: Duisburg, Germany

[1/2] A suspected illegal migrant is searched after he was detained by German police during their patrol along the German-Polish border to prevent illegal migration, in Forst, Germany, September 20, 2023. In August, registered illegal border crossings to Germany reached 14,701, up 66% on the same month last year, police data shows. Czech police have increased random checks on the Slovak border as well as on highways to Germany, Czech police president Martin Vondrasek said. LAMPEDUSA CRISISAs well as the increase in illegal border crossings, Germany has also taken in around 1 million Ukrainian refugees over the past year. Previously, there have been random police checks on the borders and Germany has maintained stationary controls on the Bavarian border with Austria since 2015.

Persons: Lisi Niesner, Nancy Faeser, Martin Vondrasek, Markus Soeder, Rome, Faeser, Piotr Muller, Alexander Ratz, Sarah Marsh, Alan Charlish, Anna Wlodarczak, Jan Lopatka, Rachel More, Kirsti Knolle, Alison Williams Organizations: REUTERS, Faeser, Social Democrats, Reuters, Warsaw, Thomson Locations: Forst , Germany, Poland, Czech Republic, BERLIN, Germany, Berlin, Czech, Bavaria, Hesse, Bavarian, Austria, North Africa, Lampedusa, Italy, EU, Europe

☆ Germany announces extended border controls from this week
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

[1/2] A suspected illegal migrant is searched after he was detained by German police during their patrol along the German-Polish border to prevent illegal migration, in Forst, Germany, September 20, 2023. REUTERS/Lisi Niesner Acquire Licensing RightsBERLIN, Sept 27 (Reuters) - Germany will introduce extended border controls with Poland and the Czech Republic this week to curb illegal migration, the interior minister said on Wednesday, as a surge in migrant arrivals exposes the cracks in the European Union's asylum system. Germany, which took in around 1 million Ukrainian refugees over the past year, has also seen a sharp rise in asylum seekers from other regions. Germany's neighbour Poland on Tuesday began conducting checks on some vehicles crossing the Slovak border, suspecting they could be carrying illegal migrants. Reporting by Alexander Ratz, Writing by Rachel More, editing by Kirsti KnolleOur Standards: The Thomson Reuters Trust Principles.

Persons: Lisi Niesner, Nancy Faeser, Alexander Ratz, Rachel More, Kirsti Organizations: REUTERS, Rights, Thomson Locations: Forst , Germany, Germany, Poland, Czech Republic, Berlin, North Africa, Lampedusa, Germany's

Growth of 0.3% had been expected in the institutes' spring forecasts. The so-called Joint Economic Forecasts are to be presented in Berlin on Thursday. The economics ministry usually updates its forecasts incorporating the results of the Joint Economic Forecasts. For 2024, the institutes - four German and one Austrian - forecast GDP growth of 1.3%, down from 1.5% previously. The Joint Economic Forecasts are prepared by the Ifo Institute, the Halle Institute for Economic Research, the Kiel Institute for the World Economy, the RWI – Leibniz Institute for Economic Research and the Austrian Institute of Economic Research.

Persons: Annegret, Christian Kraemer, Rene Wagner, Maria Martinez, Rachel Armstrong, Kirsti Knolle, Sharon Singleton Organizations: REUTERS, Rights, Reuters, Ifo Institute, Halle Institute for Economic Research, Kiel Institute, Institute for Economic Research, Austrian Institute of Economic Research, Thomson Locations: Berlin, Germany

☆ German housing prices show sharpest drop since 2000 year over year, statistics office says
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

Residential property prices fell by 9.9% year-on-year, the steepest decline since the start of data collection in 2000, the federal statistics office said. Prices fell by 1.5% on the quarter, with steeper declines in larger cities than in more sparsely populated areas. In cities such as Berlin, Hamburg and Munich, apartment prices fell by 9.8% and single and two-family house prices dropped by 12.6% on the year. Building permits for apartments in Germany declined 31.5% in July from a year earlier, the statistics office disclosed on Monday, as construction prices rose by almost 9% on the year. German housing industry association GdW on Friday sounded the alarm over the situation calling for government support for construction companies.

Persons: GdW, Riham Alkousaa, Klaus Lauer, Kirsti Knolle, Sharon Singleton Organizations: Reuters, Thomson Locations: Berlin, Hamburg, Munich, Germany

☆ China won't stand by idly in case of German 5G restrictions - embassy
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

An advertisement for Huawei's Mate 60 series smartphones is seen outside a Huawei store in Shanghai, China September 8, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsBERLIN, Sept 21 (Reuters) - China will not stand by idly if the German government decides to restrict the use of components from Chinese firms such as Huawei [RIC:RIC:HWT.UL] and ZTE <000063.SZ> in its 5G network, the Chinese embassy in Berlin said on Thursday. "Should Germany unjustifiably exclude Chinese companies, this would not only be a violation of the principle of fair competition, but would also harm Chinese companies and Germany itself," the Chinese embassy said. It added that Huawei and ZTE had long operated in Germany in harmony with German law. The interior ministry wants to present its approach to cabinet from next week.

Persons: Aly, China's, ZTE, Rachel More, Kirsti Organizations: Huawei, REUTERS, Rights, RIC, China's Huawei, ZTE, Reuters, Thomson Locations: Shanghai, China, Berlin, Germany

☆ Sudan's military ruler Burhan begins tour as UN warns of war spreading
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +3 min

[1/2] Sudan's General Abdel Fattah al-Burhan stands among troops,in an unknown location, in this picture released on May 30, 2023. Burhan, who is also armed forces chief, plans to chair a cabinet meeting. The army circulated videos on Friday of Burhan visiting the Atbara artillery base, north of Khartoum in River Nile state. The $2.6 billion Sudan appeal is just 26% funded, a U.N. spokesperson told a Geneva briefing, calling on donors to speed up promised aid. These acts of brutality contribute to an emerging pattern of targeted ethnic violence," the department said in a statement.

Persons: Abdel Fattah al, Burhan, Martin Griffiths, Griffiths, Susanna Borges, Khalid Abdelaziz, Emma Farge, Nafisa, Moaz Abd, Kirsti Knolle, Angus MacSwan, Mike Harrison, William Mallard Organizations: Sudanese Armed Forces, REUTERS, Rights, United Nations, Rapid Support Forces, Sans Frontieres, Washington, State Department, Thomson Locations: GENEVA, Khartoum, Sudan, Port Sudan, Omdurman, Nile, Kordofan, Darfur, Geneva, Chad, West Darfur, Dubai, Cairo

☆ UN reopens European office after security issue
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

The European headquarters of the United Nations is pictured in Geneva, Switzerland, September 2, 2021. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsGENEVA, Aug 25 (Reuters) - The United Nations has reopened its European headquarters in Geneva, Switzerland after earlier on Friday shutting it due to an intrusion. "Please be informed that the issue at the Palais des Nations has now been solved. The Palais des Nations building houses the UN Human Rights Council and is a hub for diplomats, humanitarian workers and state officials. Reporting by Emma Farge; Writing by Maria Sheahan, editing by Kirsti Knolle and Friederike Heine; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Emma Farge, Maria Sheahan, Kirsti Knolle, Friederike Heine, Toby Chopra Organizations: United Nations, Rights, Palais des Nations, Reuters, UN Human Rights, Thomson Locations: Geneva, Switzerland

☆ Exclusive: German guarantees for China investments plummet -document
▼ + stars: | 2023-08-23 | by ( Andreas Rinke | ) www.reuters.com time to read: +2 min

The flags of Germany and China are seen ahead of a meeting between German Chancellor Olaf Scholz and Chinese Premier Li Qiang in Berlin, Germany, June 19, 2023. Only 51.9 million euros ($56.26 million) in guarantees have been issued so far this year, according to the document seen by Reuters, less than a tenth of the 745.9 million euros in guarantees issued over the whole of last year. Slowing growth, however, has concentrated minds in Berlin, where officials fret that ever-more-advanced Chinese manufacturing poses a threat to Germany's economic model. "China has changed, and that's why our policy towards China also needs to change," Foreign Minister Annalena Baerbock said on Tuesday. Companies can invest without government guarantees, meaning real changes in levels of German FDI in China may have fallen by less.

Persons: Olaf Scholz, Li Qiang, Fabrizio Bensch, Annalena Baerbock, Andreas Rinke, Thomas Escritt, Rachel Armstrong, Kirsti, Marguerita Choy Organizations: REUTERS, Rights, Reuters, Germany's, Companies, U.S, Thomson Locations: Germany, China, Berlin, Ukraine

☆ China targeting German tech 'through back door' with licences - report
▼ + stars: | 2023-08-09 | by ( Reinhard Becker | ) www.reuters.com time to read: +2 min

The flags of Germany and China are seen ahead of a meeting between German Chancellor Olaf Scholz and Chinese Premier Li Qiang in Berlin, Germany, June 19, 2023. REUTERS/Fabrizio BenschBERLIN, Aug 9 (Reuters) - China is going after licences to boost its access to German technology as investment regulation makes company acquisitions in the sector increasingly difficult, the Handelsblatt newspaper reported on Wednesday, citing a study. Tech licences are one way for China to try to get in "through the back door", he told Reuters. As a result, direct investments and takeover bids by Chinese companies have attracted scrutiny in Berlin in recent months. Through licensing agreements, Chinese companies can gain legal permission to use German technology.

Persons: Olaf Scholz, Li Qiang, Fabrizio Bensch BERLIN, Juergen Matthes, China's Cosco, Rachel More, Kirsti Knolle, Sharon Singleton Organizations: REUTERS, Tech, Reuters, Thomson Locations: Germany, China, Berlin, Russia, Hamburg

The loss was a result of the closure of its Russian operations in the wake of Moscow's invasion of Ukraine. The previous margin record was set in the second-half of 2017, when it stood at 7%. Renault aims to reach an 8% margin by 2025 and 10% by 2030. The French carmaker on Wednesday agreed with Nissan (7201.T) on a new structure for their decades-old partnership. The Japanese group will invest up to $663 million in Renault's planned electric unit Ampere, while the French carmaker will reduce its Nissan stake to put their relationship on equal footing.

Persons: Luca de Meo, Victor Goury, Gilles Guillaume, Kirsti Knolle, Sharon Singleton Organizations: Renault, TECH Electric, Peugeot, Citroen, Nissan, Volkswagen, Thomson Locations: Dacia, Ukraine, French

Heckmeier said Siltronic was following the tussle between the United States and China for control of the chip industry and their mutual restrictions. Siltronic's product portfolio includes so-called Gallium Nitride-on-Silicon wafers, which enable high switching frequencies and efficient energy management, while working under high power densities. The Munich-based company reported an 8.7% sales decrease for the second quarter, and guided for 2023 sales to fall 14%-19% from last year's 1.81 billion euros. It now plans to invest 1.3 billion euros this year after previously guiding for investments slightly above last year's 1.07 billion. The new factory is expected to contribute to profit by 2025 the latest.

Persons: Michael Heckmeier, Heckmeier, Siltronic, Ozan Ergenay, Paolo Laudani, Kirsti Knolle, Jane Merriman Organizations: Thomson Locations: Singapore, Frankfurt, United States, China, Beijing, Munich, Gdansk

☆ Dassault Systemes' flagship platform sales slow, but targets confirmed
▼ + stars: | 2023-07-25 | by ( Victor Goury-Laffont | ) www.reuters.com time to read: +2 min

It confirmed its full-year and mid-term targets, saying it saw a renewed focus on investment in innovation from customers and pointing to a rebound in China. The group's shares slid as much as 6.7% however, putting them on track for their biggest one-day drop since April. JPMorgan said in a note that the overall picture looked "incrementally challenging" after important performance indicators, including for its flagship software platform 3DEXPERIENCE and clinical trial platform Medidata, slowed in the quarter. For the third quarter, Dassault Systemes expects revenue to reach between 1.4 billion and 1.42 billion euros, diluted earnings to come in between 0.26 and 0.27 euros per share, and an operating margin of between 30.2 and 30.5%. ($1 = 0.9034 euros)Reporting by Victor Goury-Laffont; Editing by Kirsti Knolle and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Victor Goury, Kirsti Knolle, Jan Harvey Organizations: Dassault, JPMorgan, Dassault Systemes, Thomson Locations: China

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