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☆ Strike over pay grounds all flights at Berlin airport, operator says
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 25 (Reuters) - All flights were cancelled at Germany's BER airport in the capital Berlin on Wednesday, the operator said, as staff went on strike for the day to press pay demands. The Ver.di union called on airport staff in ground services, aviation security and at the airport company to strike in the wage dispute. It called the one-day work stoppage over what it said was insufficient progress in the three parallel wage talks. [1/7] Demonstrators hold a banner during a general strike by employees over pay demands, at the Berlin Brandenburg Airport (BER), in Schoenefeld near Berlin, Germany January 25, 2023. A source told Reuters that a draft of this report forecast 6% inflation this year and 2.8% for 2024.

☆ Strike over pay at Berlin airport grounds all flights -operator
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

[1/6] A view shows empty check-in counters and kiosks, during a general strike by employees over pay demands, at the Berlin Brandenburg Airport (BER), in Schoenefeld near Berlin, Germany January 25, 2023. REUTERS/Michele TantussiBERLIN, Jan 25 (Reuters) - Staff at Germany's BER airport in capital Berlin went on strike to press their pay demands on Wednesday and the airport operator said all regular passenger flights were cancelled as a result. The Ver.di union called on airport staff in ground services, aviation security and at the airport company to strike in the wage dispute. It called the one-day work stoppage over what it said was insufficient progress in wage talks. Reporting by Klaus Lauer; Writing by Paul Carrel; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.

☆ NATO's Stoltenberg expects allies to lift defence spending target
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 25 (Reuters) - NATO Secretary General Jens Stoltenberg expects the alliance's member states to raise their current spending target on defence of 2% of national output when they meet for a summit in Vilnius in July, he told German newspaper Die Welt. "I assume that there will be a new target for defence spending when we meet for the NATO summit in Vilnius in July this year," Stoltenberg told Welt. "The two percent target was initially for a decade, so until 2024, so we have to update it now." Stoltenberg said he could not yet say what the member states would agree on. Since Russia's invasion of Ukraine in February last year, many allies have increased their military spending.

☆ Germany agrees to send Leopard tanks to Ukraine, allies to follow
▼ + stars: | 2023-01-25 | by ( Andreas Rinke | ) www.reuters.com time to read: +5 min

Germany's decision paves the way for other countries such as Poland, Spain, Finland, the Netherlands and Norway to supply some of their Leopard tanks to Ukraine, going some way towards delivering the hundreds of tanks that Ukraine says it needs. "Germany will always be at the forefront when it comes to supporting Ukraine," Scholz told German parliament to applause. Germany aims to quickly establish two battalions with Leopard 2 tanks for Ukraine and initially provide 14 Leopard 2 tanks from its own inventory. A battalion normally comprises three or four companies with around 14 tanks each. Poland has also pledged 14 tanks and Britain has promised 14 of its own Challengers.

The future of the Saarlouis site has been unclear since last June when Ford picked a site in Spain to assemble its next-generation electric vehicle (EV) over the German plant, which will stop producing its current model, the Ford Focus, from 2025. Separately, union representatives for Ford's largest German site in Cologne will meet with Ford's management on Saturday to negotiate on planned job cuts across Europe announced by management to workers on Monday. Management figures presented a worst-case scenario to 12,000 workers in a packed assembly hall of up to 2,500 job cuts in product development and a further 700 in administration. The carmaker has committed to an all-electric lineup in Europe by 2030 and its U.S. leadership has repeatedly flagged that EVs require less labour. Reporting by Victoria Waldersee and Christina Amann; Editing by Paul Carrel, Alexander Smith and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

Pressure has been building on German Chancellor Olaf Scholz's government to send its Leopard tanks to Ukraine and let other countries send the ones they own. Ukraine says heavily armoured Western battle tanks would give its ground troops more mobility and protection ahead of a new Russian offensive that Kyiv expects in the near future. Germany has previously said that no country had formally asked for permission to send their Leopard tanks. A German defence source told Reuters that Poland had submitted a request to let it supply up to 14 Leopard 2 A4 tanks to Ukraine. He expressed confidence that a decision on sending battle tanks would come soon.

Deutsche Bank declined to comment. The person did not give details of the size of the overall bonus pool for the whole of Deutsche Bank, which also includes retail, corporate and asset management divisions. Deutche's investment bank is expected to report 3.7 billion euros in pretax profit for 2022, roughly flat versus 2021, based on a consensus forecast of analysts. Reuters GraphicsDeutsche has been heavily reliant on its volatile investment bank for its return to profitability, but is hoping to depend instead on more stable businesses that serve companies and retail customers. The Financial Times first reported the Deutsche investment bank bonus decline.

☆ Tesla pushes back Model 3 delivery times in Germany after price cuts
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 20 (Reuters) - Tesla (TSLA.O) pushed back the delivery window for Model 3 vehicles on its website in Germany to February to April 2023 from January to March previously, a week after it slashed prices by between 4% and 12% depending on the variation of the model. Delivery times on the Model Y rear wheel drive, which saw the biggest price cut at 17%, had already been pushed to February to March from January to March. Expected delivery of the Model Y Long Range and Performance vehicles remained unchanged on Friday at January to March, the website showed. Tesla delivery times are still far ahead of other competitors in Germany, according to car comparison portal carwow. The company cut prices globally on the Model 3 and the Model Y last week, reversing course from the profit-over-volume strategy deployed across the industry since the pandemic of raising prices to overcome supply chain shortages.

☆ Luxury eyes focused on China after Richemont's Q3 sales miss
▼ + stars: | 2023-01-18 | by ( John Revill | ) www.reuters.com time to read: +3 min

SummarySummary Companies Q3 sales rise by 8% but miss market forecastsMainland China sales drop 24%Company says customer demand in China now picking upAll eyes on China for luxury sector, say analystsZURICH, Jan 18 (Reuters) - Cartier jewellery maker Richemont (CFR.S) missed market forecasts during its latest quarter as the resurgence of COVID-19 in China hit sales there, highlighting the country's importance for the luxury sector. Richemont, whose other brands include Swiss watchmakers IWC and Jaeger-LeCoultre, has been seeing strong sales growth in Europe, the Middle East and Japan, particularly for jewellery. But the mainland Chinese market - which accounts for about a fifth of the group's sales, according to Zuercher Kantonalbank estimates - struggled with sales down 24% in constant currency terms. The prospect of a pickup in Chinese sales meant analysts were not too worried by Richemont's quarterly miss. "The catch-up from Chinese consumers will come as strong as sales decelerated in 3Q, as they were able to save money during the lockdowns."

☆ Luxury group Richemont's sales miss forecasts after China sales plunge
▼ + stars: | 2023-01-18 | by ( John Revill | ) www.reuters.com time to read: +2 min

Overall, Richemont's sales rose 8% to 5.4 billion euros ($5.82 billion) in the three months to the end of December, up from 4.98 billion euros a year earlier. The figure missed the 5.67 billion euros forecast by analysts. When currency movements were excluded, the company's sales increased by 5%. In Japan, sales increased by 30% during the quarter, aided by "solid" domestic sales and a gradual return of tourism. In Europe sales increased by 17% helped by strong local demand and returning tourists, particularly from the Middle East and the United States.

☆ Barry Callebaut sales volumes fall 5% during its first quarter
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Jan 18 (Reuters) - Barry Callebaut (BARN.S) sales volumes fell 5.1% in the three months to the end of November, the world's largest chocolate maker said on Wednesday, as it was hit by lower output at its biggest factory. Volumes fell to 579,000 tonnes from 610,000 tonnes a year earlier, said the company whose products are used by food makers including Nestle (NESN.S) and Unilever . Volumes fell as the Swiss company started ramping up production again at its Wieze factory in Belgium, which was hit by a health scare last year. Sales revenue increased by 3.8% to 2.1 billion Swiss francs ($2.28 billion), as the company passed on raw material price increases the company said. ($1 = 0.9229 Swiss francs)Reporting by John Revill; Editing by Noele Illien Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

☆ Yellen says U.S., China must communicate on economic issues, work to avoid conflict
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: 1 min

ZURICH, Jan 18 (Reuters) - U.S. Treasury Secretary Janet Yellen told Chinese Vice Premier Liu He in Zurich on Wednesday that the world's two largest economies share a responsibility to manage their differences and prevent their competition from turning into a conflict. Yellen, in her first in-person meeting with Liu, said there was a "pressing need" for the United States and China to communicate on macroeconomic and financial conditions. "While we have areas of disagreement, and we will convey them directly, we should not allow misunderstandings, particularly those stemming from a lack of communication, to unnecessarily worsen our bilateral economic and financial relationship," Yellen said in remarks prepared for the meeting with Liu. Reporting by Andrea Shalal Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

☆ Germany's gas situation is secure this winter, regulator says
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

[1/2] The landfall facilities of the 'Nord Stream 1' gas pipeline are pictured in Lubmin, Germany, March 8, 2022. REUTERS/Hannibal HanschkeBERLIN, Jan 17 (Reuters) - Germany's gas supply situation is secure and gas shortage is unlikely to happen this winter, the head of the country's network regulator said on Tuesday. "With savings, gas inflows, good storage levels ... We are very, very optimistic that we will no longer have to worry about a gas shortage this winter," Klaus Mueller said at an energy summit organised by Handelsblatt newspaper. Mueller said he expected a relatively warm winter which will help the power supply situation in both France and Germany. Reporting by Riham Alkousaa, Christoph Steitz and Vera Eckert Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

☆ E.ON CEO: efforts to cut gas consumption must continue
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, Jan 17 (Reuters) - E.ON (EONGn.DE) CEO Leonhard Birnbaum said it was too early to give the all-clear regarding Germany's energy crisis, saying efforts to cut consumption needed to continue to avoid gas shortages and save costs. Reporting by Christoph Steitz Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

BERLIN, Jan 16 (Reuters) - Volkswagen (VOWG_p.DE) wants to expand both its higher-end and lower-end offering in the Chinese market, China chief Ralf Brandstaetter said on Monday, calling the country's high-paced, competitive market a "giant fitness centre for the industry". Volkswagen has long dominated the combustion engine car market in China, but lags domestic competitors on electric vehicles (EVs) - most notably BYD, which sold 40,046 EVs between Jan. 1-8 compared to Volkswagen passenger brand's 1,962, according to Chinese brokerage CMBI. The carmaker aims to speed up its time to market for new models from four years closer to the 2.5-year average for its Chinese counterparts, in part by localising research and development for Chinese models even further. Volkswagen must act "from a position of strength" within China, Brandstaetter said, referring to the ongoing debate in Germany over how to diversify its economic relationships to rely less on China. It means continuing to use the market opportunities in China and ramping up America," he said.

☆ German wholesale prices rise in December but at slower pace
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 16 (Reuters) - Germany's wholesale price index rose in December compared with the same month last year although at a slower pace than in previous months, according to data released on Monday. Wholesale prices rose by 12.8% on the year, compared with a November reading of 14.9%, the federal statistics office reported. Wholesale price growth peaked in April, with a 23.8% year-on-year increase. High wholesale prices are driven mainly by increased prices for raw materials and intermediate products. In December, the prices of mineral oil products rose 22.8% compared with December 2021, having the largest impact in the wholesale price index, Destatis said.

☆ German economy likely stagnated in Q4 - stats office
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 13 (Reuters) - German economic output likely stagnated in the final quarter of last year and grew by 1.9% over the full-year 2022, the Federal Statistics Office said on Friday, suggesting Europe's largest economy may just escape a recession over the winter. The initial fourth quarter readout suggests Germany may just avoid a recession -- defined as two successive quarters of contraction. German inflation eased for a second month in a row in December due to falling energy prices and the government's one-off payment of household energy bills, with EU-harmonized consumer prices rising by 9.6% on the year. Germany's state deficit ratio registered 2.6% of GDP in 2022, the Statistics Office added. Reporting by Miranda Murray and Maria Martinez Writing by Paul Carrel, editing by Kirsti KnolleOur Standards: The Thomson Reuters Trust Principles.

☆ Germany's RWE calls for end to protest showdown over coal mine expansion
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +3 min

"Today, RWE Power will start to demolish the former settlement of Luetzerath," the company said in a statement. The protest follows a regional court decision on Monday that upheld an earlier ruling to vacate the village whose land and houses now belong to RWE. "RWE is appealing to the squatters to observe the rule of law and to end the illegal occupation of buildings, plants and sites belonging to RWE peacefully," RWE said. Those include firing up mothballed coal power plants and extending the lifespan of nuclear power stations after Russia cut gas deliveries to Europe in an energy standoff that sent prices soaring. The government has, however, brought forward the date when all brown coal power plants will be shut down in North Rhine-Westphalia, to 2030 from 2038, acceding to a campaign promise from the Greens.

☆ German cartel office issues objections to Google data processing
▼ + stars: | 2023-01-11 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 11 (Reuters) - Germany's cartel office regulator said on Wednesday it had issued objections against Google's data processing terms and that it expected the company to make changes accordingly. The cartel office sent parent company Alphabet (GOOGL.O), Google Ireland Ltd and Google Germany GmbH a preliminary legal assessment on December 23, the regulator said in a statement. It said users were not currently given sufficient choice as to whether and to what extent they agree to the far-reaching processing of their data across services. A spokesperson for Google said the company would continue to engage constructively with the German regulator to try to resolve its concerns. Reporting by Foo Yun Chee, Writing by Rachel More Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

☆ German minister promises Ukraine weapons, EU accession help on surprise trip
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +2 min

In a statement ahead of a meeting with Foreign Minister Dmytro Kuleba, Baerbock expressed Germany's solidarity with Ukrainians living through Russia's invasion and harsh winter conditions. After Germany last week promised to send Marder fighting vehicles to Ukraine as part of increased military support, Baerbock promised more weapons, without specifying which ones. Senior Russian legislator Leonid Slutsky, echoing Moscow's line that it launched the war to "denazify" Ukraine, said history would harshly judge the comments by Baerbock. Baerbock also said it was important not to lose sight of Ukraine's place in Europe and its desire to join the EU. She said Germany would provide 20 million euros ($21.47 million) for demining efforts and another 20 million euros to boost Ukraine's access to Starlink internet terminals.

☆ German industrial orders fall more than expected in November
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 6 (Reuters) - German industrial orders saw their sharpest drop in more than a year in November on falling foreign demand, decreasing by 5.3% on the month on a seasonally and calendar adjusted basis, the federal statistics office said on Friday. A Reuters poll of analysts had pointed to a 0.5% fall, after a downwardly revised rise of 0.6% in October. Orders from eurozone countries slumped by 10.3% on the month, while those from outside the eurozone fell by 6.8%. "This shows how strongly the high energy prices are weighing on the eurozone," said VP Bank chief economist Thomas Gitzel. The statistics office publishes a statement with more economic data.

☆ One dead, another injured after shots fired at Austrian barracks
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +1 min

VIENNA, Jan 6 (Reuters) - A soldier was killed and another injured after an exchange of fire at an airfield barracks in the Austrian town of Wiener Neustadt on Friday, a Defence Ministry spokesperson said. Austrian news agency APA reported that the soldier on guard duty had opened fire during an apparent argument and that he was then shot by the higher-ranking military officer. "In the airfield barracks ... the guard soldier was killed and another soldier injured in an exchange of fire shortly before 7 a.m. (0600 GMT)," ministry spokesperson Michael Bauer tweeted. Austrian broadcaster ORF reported that the guard who was killed at the barracks in the town, about 60 km (40 miles) south of Vienna, was aged 20 and from the province of Lower Austria. Writing by Paul Carrel, editing by Miranda Murray and Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.

☆ BMW sales dip in 2022, targets 15% battery-electric sales this year
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Jan 4 (Reuters) - The BMW Group (BMWG.DE) sold around 100,000 fewer cars in 2022 at 2.4 million vehicles, but more than doubled the proportion of fully-electric cars sold to reach almost 10% of total sales, a spokesperson said on Wednesday. The German automaker plans to raise the share of battery electric vehicles in total sales to 15% in 2023, the person added. The core BMW brand sold 2.1 million vehicles last year, down from a record 2.2 million in 2021, as COVID-19 lockdowns in China stymied supply and European inflation weighed on demand. Still, BMW has so far offset the dip in sales volumes with higher prices, with third-quarter profits rising in 2022. The carmaker will report full 2022 sales figures on Jan. 10.

☆ Around 10 people buried in Austrian avalanche - APA
▼ + stars: | 2022-12-25 | by ( ) www.reuters.com time to read: +1 min

Dec 25 (Reuters) - Around 10 people were buried in an avalanche in the Lech/Zuers free skiing area in western Austria on Sunday, the Austrian Press Agency (APA) reported, adding that one person had been rescued. The avalanche occurred at about 3 p.m. (1400 GMT), APA said, adding that several helicopters and search teams deployed soon afterwards. "We are doing everything we can to rescue the winter sports enthusiasts," APA quoted the municipality of Lech as saying. Some 100 people were involved in the search, with rescuers requesting headlamps so that they can continue the search in the dark, APA added. Lech/Zuers markets itself as "one of the best ski areas in the world" and part of the cradle of Alpine skiing.

☆ Germany pauses purchases of Puma tanks after operational problems
▼ + stars: | 2022-12-19 | by ( Rachel More | ) www.reuters.com time to read: +2 min

Shares in Rheinmetall (RHMG.DE), which manufactures the tanks together with Krauss-Maffei Wegmann (KMW), were down 7% after the minister's announcement. A statement from the German defence ministry said the goal was to make the Puma tanks operational as soon as possible. Meanwhile, the German Bundeswehr military would use Marder tanks, the predecessor model to the Puma, from Jan. 1, in what a ministry spokesperson called a "fall-back solution". Neither Rheinmetall nor KMW would comment on the issues with the Puma model. The Spiegel magazine reported over the weekend that 18 Puma tanks intended for NATO's very high readiness joint task force next year were not operational after problems arose during a firing exercise.

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