DIRS.INFO The most relevant business & tech news

☆ ‘And Just Like That …’ Episode 11 Fashion: Samantha’s Return
▼ + stars: | 2023-08-24 | by ( The Styles Desk | ) www.nytimes.com time to read: +1 min

This article contains spoilers for Episode 11 of the second season of “And Just Like That …”After 11 episodes of ball gowns and bucket hats, questionable Met Gala looks and so much plaid, Season 2 of “And Just Like That …” has come to an end. In the season’s finale, Carrie (Sarah Jessica Parker) hosts a soiree to say goodbye to her apartment. Most of her closest friends are there, except for Samantha Jones (Kim Cattrall), the “Sex and the City” fan favorite who finally appeared in a 75-second scene, to explain why she could not attend the party. In the episode, which forces reckonings between many of the show’s romantic pairings, Miranda (Cynthia Nixon) wonders whether her relationship with Che Diaz (Sara Ramirez) was “a good train wreck” or simply a train wreck. This season, members of the Styles desk often asked similar questions about the show’s costumes, and ahead of the final episode, gathered to discuss Carrie’s kitten, Samantha’s return and whether the show’s ostentatious looks paid off.

Persons: ”, Carrie, Sarah Jessica Parker, Samantha Jones, Kim Cattrall, Miranda, Cynthia Nixon, Che Diaz, Sara Ramirez Organizations: City

☆ Americans are shopping less. But the US economic engine is still humming
▼ + stars: | 2023-08-23 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

That’s important, because Americans’ spending on goods and services accounts for two-thirds of US gross domestic product. Historically, sluggish retail sales, credit card delinquency and even shoplifting have been signs of a dark cloud on the horizon. The question of credit card debt is another area where the nuance matters. And as a share of total credit card debt, it is relatively low. But Americans’ credit card debt is unquestionably rising.

Persons: CNN Business ’, New York CNN —, Macy’s, they’ve, Taylor Swift, Barbie, ”, Ubers, Covid, Taylor, Sarah Yenesel, Chris Rupkey, Leticia Miranda, That’s, TJ Maxx, Louis Navellier, they’re, Brett Ryan, —, Alicia Wallace, you’ll Organizations: CNN Business, New York CNN, Dick’s Sporting Goods, Nike, FwdBonds, Atlanta Federal Reserve, “, “ Retailers, Deutsche Bank, Walmart, Amazon, Federal Reserve, Bank of America Locations: New York

☆ Continental considering sale of ContiTech's car division - manager magazin
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

The name of German tire maker Continental is pictured on a wheel at the IAA truck show in Hanover, September 22, 2016. REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsCompanies Continental AG FollowContiTech AG FollowBERLIN, Aug 21 (Reuters) - German auto parts supplier Continental (CONG.DE) is considering the sale of the car division bundled within ContiTech, manager magazin reported on Monday, citing company sources. Supervisory board chairman Wolfgang Reitzle and the executive board around chief executive Nikolai Setzer are considering a reorganization of the corporation, the business publication added, citing the sources. As part of the reorganization, ContiTech's car division, which specializes in belts and sealing systems, will be put up for sale first, said the report. Philip Nelles, who is in charge of the ContiTech division, told Reuters in February that the company's activities in the car sector would be bundled into their own unit with a stronger focus on electromobility.

Persons: Fabian Bimmer, Wolfgang Reitzle, Nikolai Setzer, Philip Nelles, Victoria Waldersee, Miranda Murray, Rachel More Organizations: IAA, REUTERS, Continental, BERLIN, Reuters, Thomson Locations: Hanover

☆ Continental considers sell-off of ContiTech car business - manager magazin
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

The name of German tire maker Continental is pictured on a wheel at the IAA truck show in Hanover, September 22, 2016. REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsCompanies Continental AG FollowContiTech AG FollowBERLIN, Aug 21 (Reuters) - German auto parts supplier Continental (CONG.DE) is considering the sale of the car division currently bundled within ContiTech, manager magazin reported on Monday, citing company sources. According to manager magazin, that unit - specialised in belts and sealing systems with a turnover of more than 2 billion euros - is due to be separated from the business within two years. The highly profitable tyres business and non-automotive part of ContiTech will be retained as the future core, it said, quoting an unnamed top manager who warned of the threat of a workforce rift if the tyres business continued financing the cars business. The company said in May that ContiTech would be realigned with the aim of enhancing its impact and efficiency, without providing further details.

Persons: Fabian Bimmer, Wolfgang Reitzle, Nikolai Setzer, ContiTech, Victoria Waldersee, Miranda Murray, Rachel More, Kirsten Donovan Organizations: IAA, REUTERS, Continental, BERLIN, Thomson Locations: Hanover, Europe, Americas, Asia Pacific

☆ Wildfire on Spanish island forces more evacuations
▼ + stars: | 2023-08-19 | by ( ) www.reuters.com time to read: +2 min

[1/6] A view shows fire over the mountains in the village of La Victoria, as wildfires rage out of control on the island of Tenerife, Canary Islands, Spain August 19, 2023. REUTERS/Nacho Doce Acquire Licensing RightsTENERIFE, Canary Islands, Spain, Aug 19 (Reuters) - More people were evacuated from their homes on the Spanish island of Tenerife on Saturday morning as a wildfire raging in the north of the island remained out of control, but the flames have so far avoided major tourist areas. The blaze broke out on Wednesday in a mountainous national park around the Mount Teide volcano - Spain's highest peak - amid hot and dry weather. Scorching heat and dry weather this summer have contributed to unusually severe wildfires in Europe and Canada. Blazes on Hawaii's Maui island earlier this month killed more than 110 people and wrecked the historic resort city of Lahaina.

Persons: Fernando Clavijo, Clavijo, Manuel Miranda, Miranda, Nacho Doce, Jessica Jones, Clelia Organizations: REUTERS, Rights, Territorial Policy, Thomson Locations: La Victoria, Tenerife, Canary Islands, Spain, Rights TENERIFE, Europe, Canada, Maui, Lahaina

kevin rooseAnd you’re listening to “Hard Fork.”casey newtonThis week on the show, Sam Bankman-Fried goes to jail. If you give me, like, 1 percent of the internet, that’s going to give me an aneurysm. And those three are actually going to get to live that out. So I actually think the classroom of the future looks remarkably like the classroom today, but you reverse what you’re doing in it. And I think that’s another piece, is we have to not be delusional about what has actually happened in education.

Persons: casey newton, Joe Rogan, kevin roose You’re, casey newton They’ve, kevin roose They’ve, who’s, kevin roose, Kevin Roose, ” casey newton, Casey Newton, Sam Bankman, Fried, what’s, Wharton, Ethan Malek, kevin roose Casey, I’ve, casey newton Guy’s, David Jaffe Bellini, David, ” david jaffe bellini, casey newton Hi, ’, he’s, david jaffe bellini, david jaffe bellini That’s, they’re, Sam’s, there’s, that’s, Casey, — casey newton, david jaffe bellini I’m, he’d, Caroline Ellison, Caroline Ellison’s, Caroline, She’s, we’ve, they’ve, Sam, He’s, I’m, haven’t, It’s, You’ve, There’s, you’re, Ryan Salem, hasn’t, Gary, Nishad, They’ve, SBF, casey newton Look, Harlem Globetrotters ’, it’s, Kevin, casey newton Oh, kevin roose David Jaffe Bellini, we’re, kevin roose It’s, “, casey newton Sure, Ethan Mollick Ethan, kevin roose Ethan Mollick, ” ethan mollick, ethan mollick, That’s, casey newton Tell, ChatGPT, ethan mollick —, you’ve, Steve Jobs, don’t, You’ll, ethan mollick Oh, casey newton Well, We’ve, kevin roose I’m, Ethan, casey newton It’s, they’d, you’ll, They’re, Ethan Mollick, casey newton —, should’ve, let’s, Cruise, casey newton That’s, — david jaffe bellini, kevin roose —, ”, Alex, casey newton Hey, casey newton Yes, Kyle Vogt, Franciscans, I’ll, kevin roose Totally, casey newton Yep, Uber, casey newton Right, Dirk, Kevin kevin roose, shouldn’t, — casey newton Yes, casey newton Don’t, Rachel Cohn, Davis, We’re, Jen Poyant, Caitlin Love, Sophia Lanman, Dan Powell, Marion Lozano, Rowan Niemisto, Paula Shoeman, Tam, David McCraw, Nell Gallogly, Kate LoPresti, Jeffrey Miranda Organizations: Spotify, The New York Times, FTX, Conference, NFL, Google, “ New York Times, MDC, Republican, Alameda, Twitter, Harlem Globetrotters, Washington Generals, Wharton School, University of Pennsylvania, Fork University, Caud Academy, they’re, TA, . University, University, Hard Fork, Wharton, DMs, San, San Francisco, Cruise, Department of Motor Vehicles, University of Michigan Transportation Research Institute, Virginia Tech Transportation, YouTube Locations: New York, California, Bahamas, Alameda, FTX, autodelete, Caroline, Wharton, GPT, Kenya, America, San Francisco, Charlotte , North Carolina, Texas, North Beach, Cruise, Franciscans, robotaxis, AVs, Rhode Island, Zurich, Paris, Madrid, Swiss, Switzerland

☆ Austrian ex-chancellor Kurz charged with giving false testimony - prosecutors
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Aug 18 (Reuters) - Former Austrian chancellor Sebastian Kurz has been charged with giving false testimony before parliament, the Austrian prosecutor's office for economic crimes and corruption said on Friday. The conservative politician and his former chief of staff, Bernhard Bonelli, are accused of giving false testimony before the Ibiza committee of inquiry in the Austrian parliament "regarding the alleged corruptibility of his government," the office said in a statement. Kurz left office in 2021 after prosecutors placed him and nine others under investigation on suspicion of breach of trust, corruption and bribery with various levels of involvement. Since leaving office, Kurz has been working as a global strategist for tech investor Thiel Capital. Writing by Friederike Heine; Editing by Miranda Murray and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Sebastian Kurz, Bernhard Bonelli, Kurz, Heinz, Christian Strache, Karl Nehammer, Friederike Heine, Miranda Murray, Conor Humphries Organizations: Austrian, People's Party, Thiel Capital, Thomson Locations: Austrian, Ibiza, Vienna, Russian

☆ Germany walks back plan to meet NATO spending target on annual basis
▼ + stars: | 2023-08-16 | by ( Holger Hansen | ) www.reuters.com time to read: +1 min

Banners displaying the NATO logo are placed at the entrance of new NATO headquarters during the move to the new building, in Brussels, Belgium April 19, 2018. REUTERS/Yves Herman/File Photo Acquire Licensing RightsBERLIN, Aug 16 (Reuters) - The German government has retreated from a plan to legally commit itself to meeting NATO's 2% military spending target on an annual basis, a government source told Reuters on Wednesday. The change means that Germany will be able to stick to its current pledge of meeting the 2% target on average over a five-year period. NATO allies have criticised Berlin strongly in the past for not spending 2% of its gross domestic product on defence annually. It is unclear whether Berlin will keep military spending over this threshold once a 100 billion euro ($101 billion) special fund to bring the Bundeswehr back up to standard is used up.

Persons: Yves Herman, Chancellor Olaf Scholz, " Scholz, Holger Hansen, Miranda Murray, Sabine Siebold, Friederike Heine, Rachel More Organizations: NATO, REUTERS, Rights, Reuters, Bundeswehr, Thomson Locations: Brussels, Belgium, Germany, Ukraine, Berlin

[1/4] Chile's president Gabriel Boric looks on as newly appointed Mining Minister Aurora Williams signs a document during a cabinet reshuffle at the government house, in Santiago, Chile, August 16, 2023. Boric has suffered major legislative defeats in Congress, though his lithium reform largely does not require legislative approval. UPHILL BATTLEBoric has said he will send new bills to reform Chile's tax system, but would not insist on an original reform rejected last March. In his third cabinet reshuffle, Boric also named new ministers of culture, education, national assets and social development. Jackson will be replaced by Chile's National Assets Minister Javiera Toro.

Persons: Gabriel Boric, Aurora Williams, Rights SANTIAGO, Williams, Marcela Hernando, Michelle Bachelet, Boric, Codelco, Giorgio Jackson, Jackson, Minister Javiera Toro, Nicolas Cataldo, Marco Antonio Avila, Fabian Cambero, Natalia Ramos, Sarah Morland, David Alire Garcia, Nick Macfie, David Gregorio Our Organizations: Mining, REUTERS Acquire, Rights, Chile's National, Minister, Thomson Locations: Santiago , Chile, Handout

☆ Portugal's new housing law threatens its tourism industry, say hostel owners
▼ + stars: | 2023-08-14 | by ( Julia Buckley | ) edition.cnn.com time to read: +14 min

The law – proposed and approved by Portugal’s ruling PS party – seeks to address the housing crisis in Portugal. The new law’s resolutions could potentially have far-reaching effects on those running alojamento local (AL) properties – including Portugal’s world-renowned hostels. AL properties outside of low-density areas will also see their current property taxes increase, and be subject to a new tax starting at 15%, known as CEAL. The new legislation threatens the future of all hostels in Portugal, says Miguel Santos, board member at the Associação Hostels de Portugal (AHdP) and owner of a Lisbon hostel. Pedro Nunes/ReutersOne hostel owner fearing for the future is Benedita Vasconcellos, who owns Lisbon’s Goodmorning Solo Traveller Hostel, voted Portugal’s best hostel in 2020.

Persons: Mais Habitação, –, “, hospedagem, ”, Eduardo Miranda, Valerio Berdini, Miguel Santos, ” Santos, AHdP, Richard Cummins, Kash Bhattacharya, ” Bhattacharya, Pedro Nunes, Vasconcellos, I’m, ” Vasconcellos, won’t, Filipa Aguiar, we’ll, Marco Bottigelli, Airbnb, ALEP’s Eduardo Miranda, Miranda, ” “ We’re, ALEP, Miguel Torres Marques, Marina Gonçalves Organizations: CNN, de, Alamy, Portugal, Artists, Reuters, Getty Locations: Portugal, Lisbon, Western Europe, Porto, Spain, Ericeira, ” Lisbon

☆ Daimler Truck starts search for new CFO after sudden death
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: 1 min

Members of the media stand beside an electric driven Actros truck at the booth of German truckmaker Daimler Truck at the IAA Transportation fair, which will open its doors to the public on September 20, 2022, in Hanover, Germany, September 19, 2022. REUTERS/Fabian BimmerBERLIN, Aug 14 (Reuters) - Daimler Truck (DTGGe.DE) on Monday said that management board chairman Martin Daum would take over as chief financial officer on an interim basis after the sudden death of Jochen Goetz. The company added that the search for a new CFO had been initiated by the supervisory board. Daimler Truck had announced earlier this month that Goetz died suddenly and unexpectedly at the age of 52. Writing by Miranda Murray, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Persons: Daimler, Fabian Bimmer BERLIN, Martin Daum, Jochen Goetz, Goetz, Miranda Murray, Rachel More Organizations: IAA Transportation, REUTERS, Daimler, Daimler Truck, Thomson Locations: Hanover, Germany

☆ UBS tells employees: more milestones in CS merger to be announced Aug 31
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: 1 min

Logos of Swiss banks UBS and Credit Suisse are seen in Zurich, Switzerland March 20, 2023. REUTERS/Denis Balibouse/File PhotoBERLIN, Aug 11 (Reuters) - UBS (UBSG.S) said in a memo to employees seen by Reuters on Friday that it would provide information on some more milestones it has reached in its merger with Credit Suisse as part of its second-quarter results on Aug. 31. "It should be clear to all of us that we still have a lot of work ahead of us to realize the full potential value from this transaction," according to the memo, which was sent as UBS said it had terminated its loss protection agreement with the Swiss government. Reporting by Oliver Hirt and Noele Illien, Writing by Miranda Murray; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Oliver Hirt, Noele, Miranda Murray, Kim Coghill Organizations: UBS, Credit Suisse, REUTERS, Reuters, Thomson Locations: Zurich, Switzerland, Swiss

☆ ‘And Just Like That …’ Episode 9 Fashion: Dressing for the Apartment You Want
▼ + stars: | 2023-08-10 | by ( The Styles Desk | ) www.nytimes.com time to read: +1 min

This article contains spoilers for Episode 9 of the second season of “And Just Like That …”Colorful, overflowing closets are familiar backdrops for “And Just Like That …,” but in the new episode, Carrie and her friends leverage the full power of the clothes inside. The protagonists seem to dress intentionally, as if they are aware of what they can say with a pinstripe or pantsuit. When Giuseppe (Sebastiano Pigazzi) attends the political event for Herbert Wexley (Christopher Jackson), the poet embodies the role of the polished artist in a blazer and vest. Ahead of Episode 9, members of The New York Times’s Styles desk discussed the colors, undergarments and pet portraits in the latest installment of the series. Jeremy Allen This episode’s fashion again felt very “Emily in Paris.” Carrie is sporting a beret as she strolls around the park with Aidan at the end of the episode!

Persons: Carrie, Sarah Jessica Parker, Miranda, Cynthia Nixon, Kristin Davis, Giuseppe, Sebastiano Pigazzi, Herbert Wexley, Christopher Jackson, Times’s Styles, Jeremy Allen, Emily, ” Carrie, Aidan Organizations: Charlotte, Manhattan, The Locations: Paris

[1/2] The logo of German industrial group Siemens is seen at an office building in Zug, Switzerland December 1, 2021. REUTERS/Arnd Wiegmann/File PhotoCompanies Siemens AG FollowVIENNA/MUNICH, Aug 8 (Reuters) - Siemens (SIEGn.DE) is cooperating with authorities in Austria on an investigation into allegations of possible corruption related to hospital building contracts. Siemens said the investigation was based on information the company had provided to the public prosecutor's office in the course of an ongoing compliance investigation. "Siemens is cooperating fully with the authorities," the engineering company said, adding that it would not comment on ongoing investigations. Austrian prosecutors said that five people had been arrested as part of the investigation, with several house searches taking place last week.

Persons: Arnd, Feldkirch, KHBG, Martina Ruescher, Alexandra Schwarz, Alexander Huebner, John Revill, Friederike Heine, Miranda Murray, David Goodman, Louise Heavens Organizations: Siemens, REUTERS, Companies Siemens AG, Welt, Smart Infrastructure, Thomson Locations: Zug, Switzerland, MUNICH, Austria, Vorarlberg, Vienna, Munich

☆ German inflation eases to 6.5% in July
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: 1 min

A general view of a fruit and vegetable stand on a weekly market in Berlin, Germany, March 14, 2020. REUTERS/Annegret Hilse/File PhotoBERLIN, Aug 8 (Reuters) - German inflation eased in July, the federal statistics office said on Tuesday, confirming preliminary data. German consumer prices, harmonised to compare with other European Union countries, increased by 6.5% on the year in July. This follows a 6.8% increase in June. (This story has been corrected to say inflation eased, not rose, in the headline and in paragraph 1)Reporting by Friederike Heine, Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Annegret, Friederike Heine, Miranda Murray Organizations: REUTERS, Union, Thomson Locations: Berlin, Germany

☆ GAM shareholder group demands date change for extraordinary general meeting
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Aug 8 (Reuters) - Investors in Swiss asset manager GAM Holding (GAMH.S) have asked for the company's extraordinary general meeting - which could remove its chairman and board - to be delayed. The investor group, which controls roughly 9.6% of GAM shares, wants the EGM to be delayed until August 31, so shareholders can vote knowing the outcome of Liontrust's offer. The deadline for Liontrust's offer has been extended three times from the original date of July 25. The offer has been recommended by GAM's board, which triggered calls by some shareholders to remove chairman David Jacob and his board at an EGM. Some investors have opposed the all-share offer, saying in July that it "grossly undervalues GAM" and want to turn GAM around rather than selling.

Persons: Xavier Niel, Liontrust, David Jacob, John Revill, Miranda Murray Organizations: GAM, Thomson Locations: ZURICH, Swiss

☆ Bosch, Infineon, NXP, TSMC to establish JV for German wafer fab
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: 1 min

The logo of Bosch is seen at an office building in Kyiv, Ukraine July 6, 2020. REUTERS/Valentyn Ogirenko/File PhotoBERLIN, Aug 8 (Reuters) - German technology group Robert Bosch (ROBG.UL) said on Tuesday that it will establish a joint venture with TSMC (2330.TW), Infineon (IFXGn.DE) and NXP (NXPI.O) with the aim of building a wafer fab in Dresden, Germany, by the second half of next year. The joint venture will be 70% owned by TSMC, with Bosch, Infineon and NXP each holding a 10% equity stake, according to a statement, and total investments are expected to exceed 10 billion euros ($10.97 billion) via equity injection, debt borrowing, and strong support from the European Union and German government. ($1 = 0.9120 euros)Writing by Miranda Murray, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

Persons: Valentyn, Robert Bosch, Miranda Murray, Friederike Heine Our Organizations: Bosch, REUTERS, TSMC, Infineon, European Union, Thomson Locations: Kyiv, Ukraine, Dresden, Germany

☆ German space firm OHB plans to delist as KKR takes minority stake
▼ + stars: | 2023-08-07 | by ( Alexander Hübner | ) www.reuters.com time to read: +2 min

Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File PhotoBERLIN, Aug 7 (Reuters) - Germany's OHB (OHBG.DE) on Monday said U.S. financial investor KKR was buying a minority stake in the space company and it planned to delist from the stock market. KKR is planning a voluntary public tender offer for all outstanding shares at a price of 44 euros ($48.34), according to OHB. In total, KKR is putting up to 338 million euros into OHB with the takeover bid, a capital increase of 10% and a capital injection for the OHB space subsidiary Rocket Factory. OHB posted a first half pre-tax profit of 19.6 million euros and said its order backlog remained at a high level of 1.8 billion euros.

Persons: Brendan McDermid, Fuchs, Marco Fuchs, OHB, Christian Ollig, Alexander Huebner, Rachel More, Miranda Murray, Kirsten Donovan Organizations: KKR, New York Stock Exchange, REUTERS, Monday, Factory, Thomson Locations: New York, U.S, Bremen, Europe

REUTERS/Wolfgang Rattay/File PhotoFRANKFURT, Aug 7 (Reuters) - Germany's BioNTech (22UAy.DE), Pfizer's (PFE.N) partner on COVID-19 vaccines, cut its drug development budget for this year after quarterly revenues were hurt by a plunge in pandemic-related demand. The quarterly net loss was 190 million euros, down from a COVID-19-fuelled profit of 1.67 billion euros a year earlier. The company said it cut its projected research and development (R&D) budget for this year to between 2 and 2.2 billion euros, down from between 2.4 and 2.6 billion euros previously forecast. R&D expenditures were 1.54 billion euros last year. BioNTech reaffirmed its outlook for COVID-19 vaccine revenues to reach about 5 billion euros in 2023, down from 17.2 billion euros last year, expecting a renewed sales boost from an inoculation campaign in the fall.

Persons: Wolfgang Rattay, Jens Holstein, BioNTech, Ludwig Burger, Miranda Murray, Friederike Heine, Louise Heavens Organizations: REUTERS, Pfizer, Thomson Locations: Mainz, Germany

☆ TSMC to decide in favour of German factory on Tuesday - Handelsblatt
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

Taiwan Semiconductor Manufacturing Company's (TSMC) logo is seen while people attend the opening of the TSMC global R&D center in Hsinchu, Taiwan July 28, 2023. REUTERS/Ann Wang/File PhotoBERLIN, Aug 7 (Reuters) - Taiwanese semiconductor manufacturer TSMC's (2330.TW) board of directors will decide in favour of building a factory in the German city of Dresden, the Handelsblatt daily reported on Monday, citing government sources. The German government will support the construction of the factory with 5 billion euros ($5.49 billion), according to the sources. TSMC, the world's largest contract chipmaker, has been in talks with the German state of Saxony since 2021 about building a fabrication plant, or "fab", in Dresden. It will operate the factory in a joint venture with partners Bosch (ROBG.UL), Infineon (IFXGn.DE) and NXP (NXPSM.UL), the sources told Handelsblatt.

Persons: Ann Wang, Bosch, Handelsblatt, Miranda Murray, Friederike Heine Our Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Infineon, European, Intel, Thomson Locations: Hsinchu, Taiwan, German, Dresden, Saxony, Berlin, Europe, Brussels

☆ Huawei ban would cost German rail operator 400 million euros, der Spiegel reports
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

A Huawei logo is seen on a cell phone screen in their store at Vina del Mar, Chile July 18, 2019. REUTERS/Rodrigo Garrido/File photoBERLIN, Aug 4 (Reuters) - Germany's national railway operator would have to spend up to 400 million euros ($437.44 million) to replace all the components in its infrastructure supplied by Chinese tech giant Huawei Technologies [RIC:RIC:HWT.UL], Spiegel magazine reported on Friday. Deutsche Bahn, which is state-owned, would face delays of five to six years for its projects if the German government decided to ban Huawei components in the short term, the report said, citing an internal company document. A spokesperson for Deutsche Bahn said the company would not comment on internal documents. Any decision to ban Huawei outright would likely draw an angry response from Beijing, with the Chinese foreign ministry having urged Berlin to act in line with its own interests and international rules.

Persons: Rodrigo Garrido, Rachel More, Miranda Murray Organizations: Huawei, Vina del, REUTERS, Huawei Technologies, Spiegel, Deutsche Bahn, Deutsche Telekom, Thomson Locations: Vina del Mar, Chile, BERLIN, Beijing, Berlin

FILE PHOTO-A logo of German real estate company Vonovia, is pictured during a news conference in Duesseldorf, Germany, March 6, 2018. After a decade-long property boom, Germany is undergoing a sharp reversal of fortune after an era of cheap money ended. Germany's real estate sector is mired in its worst crisis in decades, marked by insolvencies, fizzling transactions, falling prices and a stagnation in construction jobs. Vonovia, which went public in 2013 at the start of the property boom and took over its biggest rival in 2021, serves as a bellwether for Germany's property sector. Vonovia affirmed full-year guidance for its key profit metric - so-called funds from operation - of 1.75 billion euros to 1.95 billion euros, down from 2.04 billion in 2022.

Persons: Thilo, Vonovia, Chancellor Olaf Scholz, Rolf Buch, Matthias Inverardi, Tom Sims, Miranda Murray, Friederike Heine, Kim Coghill, Alexander Smith Organizations: REUTERS, Reuters Graphics, Stifel, Thomson Locations: Duesseldorf, Germany

☆ Infineon boosts Malaysia investment as Q3 revenue above forecast
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

For the full year, Infineon expects investments amounting to approximately 3 billion euros. The planned expansion of the Kulim fab is backed by customer commitments covering about 5 billion euros and about 1 billion euros in pre-payments, said Infineon, which said it would invest up to an additional 5 billion euros over the next five years. The company expects the expanded facility - together with its plant in Villach, Austria - to generate annual revenues of 7 billion euros. The company on Thursday confirmed its revenue outlook of around 16.2 billion euros, which it had raised in May. Infineon's third-quarter adjusted, or "segment", result was down 10% from the previous quarter at 1.067 billion euros, while its margin came in slightly lower than expected, at 26.1%.

Persons: Robert Habeck, Annalena Baerbock's, Annegret, Schwarz, Jochen Hanebeck, Ford, China's Cherry, Infineon's, Miranda Murray, Christina Amann, Friederike Heine, William Mallard Organizations: Infineon Technologies, REUTERS, Infineon, Lang, Semiconductor, SAIC, Thomson Locations: Dresden, Germany, Malaysia, BERLIN, electromobility, Villach, Austria

☆ Germany's Merck flags steeper drop in earnings
▼ + stars: | 2023-08-03 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

A logo of drugs and chemicals group Merck KGaA is pictured in Darmstadt, Germany January 28, 2016. Earnings before interest, taxes, depreciation and amortisation (EBITDA), before one-offs, would fall between 3% and 9%, when adjusted for currency swings, the diversified company said. The foreign exchange effects would be an additional drag of between 3% and 6%, it added. It had previously forecast 2023 adjusted EBITDA to slip between 0% and 5%, with an additional negative foreign exchange effect of 2% to 5%. Merck also reported second-quarter adjusted EBITDA declined 12.8% to 1.55 billion euros ($1.69 billion), slightly above the average estimate of 1.5 billion euros in an analyst poll on the company's website.

Persons: Ralph Orlowski, Merck, drugmakers, Ludwig Burger, Maria Sheahan, Miranda Murray, Kim Coghill Organizations: Merck, REUTERS, Science, Thomson Locations: Darmstadt, Germany, COVID

☆ Infineon shares slump on Q4 warning, eyes Malaysia expansion
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

Infineon forecast revenue of around 4 billion euros ($4.37 billion) in the fourth quarter, below expectations of 4.14 billion euros, according to IBES data from Refinitiv. The company, however, confirmed its revenue outlook of around 16.2 billion euros, which it had raised in May. Infineon's third-quarter adjusted result was down 10% from the previous quarter at 1.067 billion euros, while its margin came in slightly lower than expected, at 26.1%. MALAYSIA FACTORYInfineon said it will invest 5 billion euros over the next five years to build a power chip plant in Malaysia, on top of the 2 billion euros investment it had planned last year. For the full year, Infineon expects investments amounting to approximately 3 billion euros.

Persons: Robert Habeck, Annalena Baerbock's, Annegret, Gartner, Jochen Hanebeck, Infineon's, China's Cherry, Miranda Murray, Christina Amann, Friederike Heine, William Mallard, Kim Coghill Organizations: Infineon Technologies, REUTERS, Infineon, AMD, Qualcomm, JPMorgan, Semiconductor, MALAYSIA, Ford, SAIC, Thomson Locations: Dresden, Germany, Malaysia, Refinitiv, Infineon's, Villach, Austria, German

Search resuls for: "miranda"

25 mentions found