DIRS.INFO The most relevant business & tech news

☆ Volkswagen to cut administrative personnel costs 20% in savings drive -Handelsblatt
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsBERLIN, Nov 13 (Reuters) - Volkswagen (VOWG_p.DE) plans to cut administrative personnel costs by a fifth as part of a cost-cutting package to save 10 billion euros ($10.8 billion) by 2026, the Handelsblatt daily reported on Monday, citing an internal company podcast. Gunnar Kilian, Volkswagen's board member for human resources, said in conversation with VW brand chief Thomas Schaefer that the cuts would focus on cost reduction rather than headcount, according to the Handelsblatt report. The specific details of the drive at Volkswagen's passenger car brand, announced in June and currently being defined in talks between management and the workers council, are due to be set by December. Volkswagen has signed an agreement with the workers council to secure jobs until 2029, and the council has repeatedly said it will not allow changes to that agreement. Reporting by Victoria Waldersee, Christina Amann; Writing by Victoria Waldersee, Miranda Murray; Editing by Stephen Coates and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Fabian Bimmer, Gunnar Kilian, Volkswagen's, Thomas Schaefer, Victoria Waldersee, Christina Amann, Miranda Murray, Stephen Coates, Bernadette Baum Organizations: VW, REUTERS, Rights, Volkswagen, Reuters, Thomson Locations: Wolfsburg, Germany

WASHINGTON (AP) — Jill Biden paid tribute to the power of poetry as she honored the 2023 class of National Student Poets on Monday at the White House, saying poetry “feeds our spirit." Political Cartoons View All 1244 ImagesThe poets receive scholarships and serve as literary ambassadors, bringing poetry to their communities through service projects, poetry readings, workshops and other opportunities. Jill Biden said she hoped the students would remember the experience of visiting the White House. She also hosted last year's class of National Student Poets. “And I hope you know that President Biden, the vice president, the second gentleman and I see you, we hear you, and we’re counting on you to keep going.

Persons: — Jill Biden, ”, Gabriella Miranda, Kallan McKinney, Hou, St, Louis, Miles Hardingwood, Jacqueline Flores, Fort, Joe Biden, Seamus Heaney, William Butler Yeats, Jill Biden, “, Biden Organizations: WASHINGTON, White, Student Locations: United States, Salt Lake City, Norman , Oklahoma, New York City, Fort Meade , Florida

☆ Germany's Continental announces job cuts in automotive division
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: 1 min

A car wheel with a badge showing the logo of German tyre company Continental, pictured before the company's annual news conference in Hanover, Germany, March 7, 2019. REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsBERLIN, Nov 13 (Reuters) - German car parts manufacturer Continental (CONG.DE) on Monday said it will cut jobs in its automotive division as part of a plan to save 400 million euros ($427.96 million) per year from 2025. The number of staff reductions was not immediately clear, but it will amount to the "mid-four-digit range," the company added. ($1 = 0.9347 euros)Reporting by Andrey Sychev Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Fabian Bimmer, Andrey Sychev, Miranda Murray Organizations: Continental, REUTERS, Rights, Thomson Locations: Hanover, Germany

☆ Continental plans thousands of job cuts in auto division
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

A car wheel with a badge showing the logo of German tyre company Continental, pictured before the company's annual news conference in Hanover, Germany, March 7, 2019. The exact number of job cuts was not immediately clear, but it will amount to the "mid-four-digit range", the company said. The news comes amid ongoing reports that Continental plans a restructuring and potential sell-offs, with CEO Nikolai Setzer saying in September he was considering a change in ownership of the company's ContiTech division. Continental will provide a full strategy update at its capital markets day on Dec. 4, the statement said. Last week the company reported that the automotive business returned to profit in the third quarter and predicted a strong quarter ahead.

Persons: Fabian Bimmer, Nikolai Setzer, Andrey Sychev, Victoria Waldersee, Christina Amann, Miranda Murray, Susan Fenton, Bernadette Baum Organizations: Continental, REUTERS, Rights, Reuters, Smart, Thomson Locations: Hanover, Germany

☆ Portuguese Central Bank to Assess Governor's Conduct - Local Media
▼ + stars: | 2023-11-11 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

LISBON (Reuters) - The Bank of Portugal's ethics committee will meet on Monday to evaluate the conduct of governor Mario Centeno, whose independence came into question after the departing prime minister proposed him as a potential replacement, local media said. Local media reported that Centeno had agreed to let his name go forward, raising concerns that his links to the PS remained strong and calling into question his independence if he remained central bank governor. Rebelo de Sousa rejected Costa's proposal and called the election instead. Centeno's quick move from the finance ministry to the central bank in July 2020, during Costa's second term, had previously raised eyebrows. A central bank spokesperson said it was up to the committee to comment on the matter.

Persons: Mario Centeno, Antonio Costa, illegalities, Marcelo Rebelo de Sousa, Costa, Rebelo de Sousa, Centeno, Costa's, Joaquim Miranda Sarmento, Negocios, Catarina Demony, Sergio Goncalves, Kevin Liffey Organizations: Bank, Socialist, European Central Bank policymaker, Local, Social Democrats, Eco, Jornal Locations: LISBON

☆ Cartier owner Richemont sees growth easing as economic worries rise
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

Richemont's constant currency sales growth eased from a 19% rate in the April to June period to a 5% rate in the following three months. The company posted a profit of 1.51 billion euros, worse than the 2.17 billion euros forecast by analysts in a consensus cited by Zuercher Kantonalbank. "Growth eased in the second quarter as inflationary pressure, slowing economic growth and geopolitical tensions began to affect customer sentiment, compounded by strong comparatives," said Chairman Johann Rupert in a statement. "Consequently, we have seen a broad-based normalisation of market growth expectations across the industry." While jewellery - traditionally more resilient to economic swings - continued to shine with constant currency sales up 9%, watch sales fell 4%.

Persons: Regis, Cartier, Vacheron Constantin, LVMH, Zuercher Kantonalbank, Johann Rupert, Kepler, Jon Cox, John Revill, Mimosa, Miranda Murray, Shri Navaratnam, Tomasz Janowski Organizations: Cartier, Vendome, REUTERS, Rights, IWC, Thomson Locations: Paris, France, Swiss, United States, Europe, China

☆ Allianz retains full-year outlook despite 30% slump in Q3 profit
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

The logo of insurer Allianz SE is seen on the company building in Puteaux at the financial and business district of La Defense near Paris, outside Paris, France, May 14, 2018. REUTERS/Charles Platiau/File Photo Acquire Licensing RightsFRANKFURT, Nov 10 (Reuters) - Germany's Allianz (ALVG.DE) on Friday posted a 30% fall in its third-quarter net profit, dragged down by claims from natural catastrophes, although the financial services company maintained its full-year profit outlook. Net profit attributable to shareholders of 2.021 billion euros ($2.16 billion) in the three-month period ended September, compared with 2.866 billion euros a year earlier. Allianz, one of Europe's largest financial services groups, described the level of claims as "exceptionally high". Still, the company stuck to its target of 2023 operating profit between 13.2 billion and 15.2 billion euros.

Persons: Charles Platiau, Tom Sims, Christina Amann, Linda Pasquini, Miranda Murray, Sherry Jacob, Phillips Organizations: Allianz, La Defense, REUTERS, Rights, Germany's Allianz, Thomson Locations: Puteaux, La, Paris, France, Ukraine, Continental Europe, Germany, Italy, Austria

Smoke rises over Gaza as seen from Southern Israel, amid the ongoing conflict between Israel and Palestinian group Hamas, November 10, 2023. UNRWA is mourning, Palestinians mourning, Israelis mourning," Philippe Lazzarini said on social media platform X. Besides Gaza, the next most deadly conflicts for U.N. aid workers was Nigeria in 2011 when a suicide bomber attacked its Abuja office during an Islamist insurgency, killing 46. In addition, seven other non-U.N. Palestinian aid workers have been killed in Gaza, the database showed. Established in 1949 following the first Arab-Israeli war, UNRWA provides public services including schools, healthcare and aid.

Persons: Evelyn Hockstein, Philippe Lazzarini, Juliette Touma, Israel, Emma Farge, Gabrielle Tétrault, Farber, Riham Alkousaa, Stephanie van den, Miranda Murray, Mark Heinrich Our Organizations: Hamas, REUTERS, GENEVA, United Nations, Reuters, UN, Communications, UNRWA, Aid Worker Security, Thomson Locations: Gaza, Southern Israel, Israel, Palestinian, Nigeria, Abuja, Sudan, Afghanistan, U.S

☆ Bayer says it is keeping strict line on settling glyphosate litigation
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

The 120 metres high Bayer Cross, logo of German pharmaceutical and chemical maker Bayer AG, consisting of 1710 LED glass bulbs is seen outside the industrial park "Chempark" of the chemical industry in Leverkusen, Germany, September 23, 2023. "We have no appetite to write humongous checks," said CFO Wolfgang Nickl in a media call after the release of third-quarter results. He added that Bayer has sound legal and scientific arguments to pursue its cases and appeals in court. Last week, a California jury found Bayer liable in a case brought by a man who claimed his cancer was due to exposure to the company's glyphosate-based Roundup, the third consecutive defeat for Bayer. Before that, Bayer had won nine cases in a row.

Persons: Wolfgang Rattay, Wolfgang Nickl, Bayer, Ludwig Burger, Miranda Murray Organizations: Bayer, Bayer AG, REUTERS, Rights, Thomson Locations: Leverkusen, Germany, U.S, California

☆ Adidas sees Samba shoes driving more interest from retailers
▼ + stars: | 2023-11-08 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +3 min

Inventory levels were down 23% year-on-year at 4.85 billion euros ($5.18 billion), a little more than expected, Adidas said. Adidas' gross margin for the quarter was up 0.2 percentage points at 49.3%, helped by reduced freight costs and fewer discounts. "Adidas' competitive position compared to Nike is improving," said Robert Schramm-Fuchs, portfolio manager at Janus Henderson, which holds Adidas shares. "Adidas needs to earn back the shelf space, but I think they have the right product to do it," he said. Adidas' sales in Greater China grew by 5.7% in currency-adjusted terms, a slowdown after growth of 16.4% in the second quarter.

Persons: Tingshu Wang, Bjorn Gulden, Kanye West, Ye, Spezial, Gulden, Robert Schramm, Fuchs, Janus Henderson, Schramm, Adam Cochrane, Miranda Murray, Helen Reid, Maria Sheahan, Sherry Jacob, Phillips, Catherine Evans Organizations: Adidas, REUTERS, Apparel, Nike, Deutsche Bank . Currency, Reuters Graphics, Thomson Locations: Beijing, China, United States, North America, Greater China, Berlin

☆ Bayer examines break-up options and prepares to cut management jobs
▼ + stars: | 2023-11-08 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

Bayer will remove multiple layers of management and coordination for a "significant reduction" in the workforce, it said. "We are redesigning Bayer to focus only on what’s essential for our mission – and getting rid of everything else," said Anderson. Analysts have said Bayer shares are trading at a massive discount to rivals in agriculture, pharmaceuticals and consumer health activities, partly weighed down by a preference among many financial investors for pure-play companies. Bayer reported third-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) and adjusted for one-off effects fell 31% to 1.685 billion euros, hit by lower earnings at its Crop Science division. Bayer added that it expects a "soft growth outlook and continued challenges" to profitability next year.

Persons: Wolfgang Rattay, Bill Anderson, Anderson, Bayer, Werner Baumann, Ludwig Burger, Miranda Murray, David Goodman Organizations: Bayer AG, REUTERS, Rights, Bayer, Consumer, Roche, Science, Thomson Locations: Leverkusen, Germany

Logo of German tyre company Continental is pictured before the annual news conference in Hanover, Germany, March 9, 2021. REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsCompanies Continental AG FollowBERLIN, Nov 8 (Reuters) - Continental (CONG.DE) reported earnings in line with consensus on Wednesday as successful price negotiations, lower inventory and stabilised supply chains enabled it to boost the performance of its automotive business and increase free cash flow. "We still have significant ground to gain in the fourth quarter," Chief Financial Officer Katja Garcia Vila, formerly Dürrfeld, said. Its automotive business, which suffered a loss in the second quarter, was back to profit with an adjusted earnings margin of 2.8% largely down to raising prices and stabilising supply chains. Still, negative currency exchange rates prompted it to adjust the cars business sales outlook slightly downwards to 20 billion euros from 21 billion previously.

Persons: Fabian Bimmer, Katja Garcia Vila, Victoria Waldersee, Miranda Murray, Miral Organizations: Continental, REUTERS, BERLIN, Victoria, Thomson Locations: Hanover, Germany, North America, Europe

Miranda Villasmil guided her daughter and son past hundreds of huddled migrants, many still muddied and swollen from their trek here to Costa Rica from South America. The family of three carried just two grocery bags of their belongings from their past lives in Venezuela. When they reached the row of shuttle buses that would carry them to the Nicaraguan border, Ms. Villasmil was so overwhelmed with relief that she texted her relatives back home who were also considering fleeing. The Costa Rican government, she wrote them, was willing to provide “safe passage.”“We move forward,” Ms. Villasmil told her family in Venezuela. Ms. Villasmil is one of thousands of migrants taking advantage of new busing programs adopted by Costa Rica and other Central American countries trying to contend with a historic tide of migration passing through their borders.

Persons: Miranda Villasmil, Villasmil, ”, Ms Organizations: Costa, Central Locations: Costa Rica, South America, Venezuela, Nicaraguan, Costa Rican, Panama, Costa Rica’s

☆ German Military Exports to Israel up Nearly 10-Fold as Berlin Fast-Tracks Permits
▼ + stars: | 2023-11-08 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

BERLIN (Reuters) - German defence export approvals to Israel so far this year have risen nearly tenfold from last year, with Berlin treating permit requests as a priority since Hamas militants attacked Israel last month, a German government source said on Wednesday. As of Nov. 2, the German government has approved the export of close to 303 million euros' ($323 million) worth of defence equipment to Israel. By comparison, 32 million euros' worth of defence exports were approved in all of 2022. The majority of individual export permits - 185 out of 218 - were granted after the Oct. 7 attack on Israel. "Following the terrorist attack by Hamas on Israel, applications for the export of military equipment to Israel are being prioritised and approved by the federal government," said the source.

Persons: Ferenc Gaal, Miranda Murray, Peter Graff Organizations: BERLIN, dpa Locations: Israel, Berlin, Germany

A steel worker of ThyssenKrupp stands amid sparks of raw iron coming from a blast furnace at a ThyssenKrupp steel factory in Duisburg, western Germany, November 14, 2022. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsBERLIN, Nov 7 (Reuters) - German industrial production fell more than expected in September, data showed on Tuesday, as a recent slump in incoming orders took its toll on production. There are few figures that summarise the state of the German economy as well as industrial production, Thomas Gitzel, chief economist at VP Bank, said. "The industry-heavy German economy is dependent on production in order to achieve reasonable economic growth rates," he said, noting that industrial production this year has been weak. "Even though there isn’t any hard data for the fourth quarter yet, recent developments have clearly increased the risk that the German economy will end the year in recession," Brzeski said.

Persons: Wolfgang Rattay, Thomas Gitzel, Carsten Brzeski, Brzeski, Maria Martinez, Miranda Murray, Rachel More Organizations: REUTERS, Rights, Reuters, VP Bank, ING, Thomson Locations: ThyssenKrupp, Duisburg, Germany

☆ Wave of cancellations in German housing construction at new high -Ifo
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 6 (Reuters) - Germany's residential construction sector was again hit by a wave of cancellations in October, according to a survey published on Monday that showed a record number of firms reporting abandoned projects. "It's getting worse all the time, with more and more projects failing due to higher interest rates and elevated construction prices," says Klaus Wohlrabe, Ifo head of surveys. "In residential construction, new business remains very low and companies' order backlogs are diminishing." The number of companies reporting a lack of orders also increased in October, to 48.7% of firms from 46.6% in September. "Nearly half of all residential construction companies are now suffering from a lack of orders, and that number is growing every month," said Wohlrabe.

Persons: Klaus Wohlrabe, Miranda Murray, Rachel More Organizations: Thomson

The meeting was aimed at garnering state leaders' support for such moves and addressing local authorities' complaints that public coffers and infrastructure are overburdened. The leader of the central state of Hesse put the total volume of aid at 3.5 billion euros. "Our shared goal is to push back irregular migration," said Scholz, after describing the agreement as a "historic moment." Some 230,000 people requested asylum in Germany in the first nine months of this year, more than in the full year 2022. His government has also agreed changes to existing rules to enable asylum seekers to enter the labour force more rapidly and to punish human traffickers with longer prison sentences.

Persons: Olaf Scholz, Hesse Boris Rhein, Lower Saxony Stephan Weil, Angela Merkel, Scholz, Sarah Marsh, Andreas Rinke, Miranda Murray, Rachel More, Barbara Lewis, Raju Gopalakrishnan Organizations: Lower, REUTERS, European Union, Thomson Locations: Hesse, Lower Saxony, Germany, Berlin, BERLIN, Russia, Scholz's

☆ A $75 Million Sale at 220 Central Park South Is One of the Year’s Biggest
▼ + stars: | 2023-11-03 | by ( Vivian Marino | ) www.nytimes.com time to read: +1 min

A flurry of big sales closed in New York City during October, including one of the year’s priciest, a full-floor aerie at 220 Central Park South purchased in a private deal for $75 million. A 79th-floor apartment at 432 Park Avenue sold for $65.6 million; a new penthouse at Steinway Tower, at 111 West 57th Street, for just under $53 million; and a high-floor sponsor unit at 217 West 57th Street, a.k.a. Central Park Tower, for $46.2 million. On the Upper East Side, at 768 Fifth Avenue, better known as the Plaza Condominium and Residences, an apartment sold for $65.8 million. The mansion once owned by the banker David Rockefeller, at 144-146 East 65th Street, sold for $47 million.

Persons: David Littman, Constance Littman, ’, David Rockefeller, Wears, ”, Meryl Streep’s imperious, Miranda Priestly Organizations: Park South, Steinway Locations: New York City, a.k.a

Filmmakers Elizabeth Chai Vasarhelyi and Jimmy Chin have given audiences thrilling and sometimes terrifying front-row seats to incredible feats of human ambition in their documentary work. But there would be at least one big difference in bringing “Nyad” to life: actors. Political Cartoons View All 1233 ImagesIn fiction, she found creative collaborators in their decorated core cast: Annette Bening, who plays Nyad, Jodie Foster as her friend and coach Bonnie Stoll, and Rhys Ifans as the ship's navigator. Vasarhelyi wasn’t without any experience working with actors, either, and in fact learned from the best. With their other films, the filmmakers had loved watching their subjects get to see audiences respond to them and their work.

Persons: Elizabeth Chai Vasarhelyi, Jimmy Chin, Alex Honnold’s, El Capitan, they’d, Diana Nyad, “, ”, Nyad, ” Vasarhelyi, Annette Bening, Jodie Foster, Bonnie Stoll, Rhys Ifans, Chin, Vasarhelyi, Nyad ”, Mike Nichols, Julia Roberts, Jude Law, Clive Owen, Natalie Portman, Tom Stoppard, Julia Cox, ” Chin, Foster, “ There's, Bening, Annette, Diana, Oscar, Claudio Miranda, Ang, Pi ”, Miranda, it’d, you’re, We’re Organizations: Key West, Netflix, Associated Press, Formula Locations: Northern Thailand, The, Cuba, Key, Covent Gardens

Cornell University student Patrick Dai is accused of making online threats against the school's Jewish community. David Bauder/APAfter the threats were posted Sunday, Cornell University police ramped up patrols and increased security for Jewish students and organizations, the agency said. At Cornell, Jewish students make up about 22% of the student body, with about 3,000 undergraduate and 500 graduate Jewish students, according to the school’s Hillel organization. “Jewish students on campus right now are unbelievably terrified for their lives,” Molly Goldstein, co-president of the Cornell Center for Jewish Living, told CNN. “The virulence and destructiveness of antisemitism is real and deeply impacting our Jewish students, faculty and staff, as well as the entire Cornell community.

Persons: Patrick Dai, Dai, “, Gabrielle DiBella, DiBella, Christopher Wray, Biden, he’s, beheadings, ” Dai, Miranda, Dai’s, Cornell, David Bauder, Kathy Hochul, Hillel, Cornell Hillel, ” Molly Goldstein, ” Cornell, Joel M, Malina, ” Malina, ”, Martha E, Pollack, ” Pollack, Hochul, it’s, CNN’s Wolf, “ We’re, CNN’s Jessica Xing, Elizabeth Wolfe, Paul P, Murphy, Maria Campinoti, Dakin Andone, Chris Boyette, Andy Rose, Caroll Alvarado, Artemis Moshtaghian, Michelle Watson Organizations: New York CNN, The Cornell University, Ivy League, New York’s Northern District, Prosecutors, US, Cornell University, Israel, CNN, Palestinian, Defamation League, Cornell, FBI, Dai, Pittsford Mendon High School, Cornell Police Department, New York, New York State Police Department, Cornell University's Center, Jewish, Cornell University police, New York State Police, Gov, Cornell Center for Jewish, “ Cornell University, ” Cornell University, ” New Locations: Syracuse, New York, West, Broome County, Israel, United States, Pittsburgh , Minnesota, Rhode Island, Ithaca , New York, Cornell’s, Pittsford , New York, Pittsford, Ithaca, Cornell, ” New York, Muslim, Dai

Looking ahead, the ongoing pass-through of the European Central Bank's monetary policy tightening, still no reversal of the inventory cycle and new geopolitical uncertainties will continue weighing on the German economy, Brzeski said. "The German economy looks set to remain in the twilight zone between minor contraction and stagnation not only this year but also next year," Brzeski said. The contraction in the third quarter is not seen as an outlier as Commerzbank expects the German economy to contract again in the winter half-year. Economists will pay close attention to national inflation data from Germany and Spain, as they are published one day before the euro zone inflation data release. Euro zone inflation is expected to ease to 3.2% in October from 4.3% in September, according to economists polled by Reuters.

Persons: Arnd, Carsten Brzeski, Brzeski, optimists, Joerg Kraemer, Claus Vistesen, Maria Martinez, Miranda Murray, Rachel More, Miral Fahmy, Angus MacSwan Organizations: REUTERS, Rights, Gross, Reuters, ING, European Central, Macroeconomics, Thomson Locations: Konstanz, Germany, Spain

☆ Swiss National Bank adjusts interest on bank deposits
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Oct 30 (Reuters) - The Swiss National Bank on Monday said it was adjusting the interest it pays with money commercial banks lodged with the central bank overnight. Sight deposits which are held to meet the minimum reserve requirements will no longer be remunerated, while it adjusted the level that different interest rates applied. From Dec. 1, banks will be paid the SNB's policy rate, currently 1.75%, on deposits equivalent to 25 times their minimum reserve requirements. Previously they were paid interest for cash held at 28 times the requirement. Sight deposits held above the bank's individual threshold will be paid the SNB's policy rate, minus a discount of 0.5 percentage points.

Persons: John Revill, Miranda Murray Organizations: Swiss National Bank, Thomson Locations: ZURICH

☆ Deutsche Bank plans to close nearly half its Postbank branches
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +2 min

The logo of Deutsche bank is seen in Hong Kong, China July 8, 2019. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsBERLIN, Oct 30 (Reuters) - Deutsche Bank (DBKGn.DE) plans to close nearly half its Postbank branches by mid-2026 in response to changing demand from customers, a spokesperson for the German bank said on Monday. The bank plans to reduce the number of Postbank branches to around 300 from its current 550, the spokesperson said. Deutsche Bank's new head of private banking, Claudio de Sanctis, had first told the Financial Times about the closures in an interview earlier Monday. He told the FT that the bank's Deutsche-branded branches will also be scaled back, without giving more details.

Persons: Tyrone Siu, Claudio de Sanctis, Friederike Heine, Miranda Murray, Matthias Williams, Tomasz Janowski Organizations: Deutsche, REUTERS, Rights, Deutsche Bank, Financial Times, Thomson Locations: Hong Kong, China

☆ Volkswagen plans job cuts, further launch delays at software unit -manager magazin
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +2 min

Volkswagen logo is pictured at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsBERLIN, Oct 27 (Reuters) - Volkswagen (VOWG_p.DE) wants to cut 2,000 jobs at its troubled software unit Cariad as part of a restructuring plan which will see its long-awaited new software architectures delayed even further, news outlet manager magazin reported on Friday. There is no concrete information on where positions should be cut in terms of structure and tasks," a Volkswagen works council spokesperson said. A Cariad spokesperson declined to comment on the article, but said Cariad CEO Peter Bosch has been working on a "comprehensive transformation plan" for "repositioning" the company since the summer. Volkswagen appointed Bosch, formerly Bentley production chief, as head of the unit earlier this year in an effort to get Cariad back on track.

Persons: Brendan McDermid, magazin, Peter Bosch, Herbert Diess, Miranda Murray, Friederike Heine, Kirsten Donovan Organizations: New York, REUTERS, Rights, Audi, Porsche, VW, Volkswagen, Bosch, Bentley, Thomson Locations: Manhattan , New York City, U.S

Strategizing an outfit for a concert, the 40-year-old communications professor at UNC Wilmington had gotten as far as a black stretch-knit dress from Susana Monaco. “But in photos on Instagram, a plain black dress doesn’t pop,” she said. Jones strapped on a $188 leather belt with an etched silver buckle, debonairly looping it around her dress’s slinky fabric. In the ’80s and ’90s, branded Gucci and Chanel belt buckles served as signal flares for yuppie shoppers. And gutsy dressers are cinching and sculpting sweaters, dresses, shawls and blouses with no belt loops at all.

Persons: KELLY JONES, Susana Monaco, ”, Jones, Halston, Tiffany, Elsa Peretti, Gucci, Miranda Kerr, Jennifer Lopez Organizations: UNC Wilmington, “

Search resuls for: "Miranda"

25 mentions found