CEEU – Jobber Wiki

Thyssenkrupp’s restructuring plan has ‘failed’, labour bosses say

31Mar

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Business

Thyssenkrupp’s restructuring plan has ‘failed’, labour bosses say

FRANKFURT/DUESSELDORF, March 31 (Reuters) - German industrial group Thyssenkrupp's (TKAG.DE) powerful labour representatives lashed out at leadership on Friday, demanding a strategic roadmap while saying that CEO Martina Merz's plan to create a so-called group of companies had failed.The comments were made following a supervisory board meeting during which the board presented an update on restructuring efforts, including plans to divest its steel division and prepare the firm's defence division for a standalone future.Under the plans, the sprawling conglomerate would ideally become more of a holding company owning stakes in its divisions, without necessarily operating them, hoping to revive its languishing share price."The concept of the group of companies has failed for us," Thyssenkru...

Kazakh airline says business is booming as Russia loses traffic

29Mar

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Business

Kazakh airline says business is booming as Russia loses traffic

ALMATY, March 29 (Reuters) - Kazakhstan's flagship airline, Air Astana, is speeding up its expansion plans to take advantage of a drop in air traffic via Russia and the reopening of China, chief executive Peter Foster told Reuters.Many global airlines stopped flights to Russia after it invaded Ukraine last year. As a result, Moscow has lost its status as a hub for flights between Europe and Asia, allowing its southern neighbour Kazakhstan to boost its market share."Prior to the start of the war in Ukraine, a lot of traffic in general, going in the western direction, whether that was to Europe or to the U.S., was traveling from this region via the Russian Federation," Foster said in an interview."Obviously, that is no longer the case. And so what has happened is there has been a shift of...

SVB is largest bank failure since 2008 financial crisis

11Mar

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Business

SVB is largest bank failure since 2008 financial crisis

California regulator closes SVB, appoints FDIC as receiverSVB focused on lending to start-ups; branches to reopen MondayFDIC to sell bank assets; 'chaos' reported amid withdrawalsBank shares fall in U.S., Europe, but well off lowsCrisis exposes banking 'vulnerabilities' amid rising ratesMarch 10 (Reuters) - Startup-focused lender SVB Financial Group (SIVB.O) became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded.California banking regulators closed the bank, which did business as Silicon Valley Bank, on Friday and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for later disposition of its assets.Based in Santa Clara, the lend...

Stake sale in Bundesliga media rights business to launch early March -sources

22Feb

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Business

Stake sale in Bundesliga media rights business to launch early March -sources

FRANKFURT, Feb 22 (Reuters) - Germany's soccer governing body is poised to kick off the sale of a stake in the Bundesliga's media rights business that could fetch $2.9 billion, sources familiar with the matter said.Deutsche Fussball Liga (DFL) plans to launch the formal sale process in early March, the sources told Reuters. One of the sources said DFL aims to find a buyer for "at least" 15% of the media rights business.The holding company that controls the media rights is valued at between 15 and 18 billion euros, the sources said, meaning a 15% stake could be worth about 2.7 billion euros ($2.9 billion).National soccer leagues in Europe are increasingly eyeing external funding around broadcasting arrangements as they look at ways to boost revenues and increase their global reach.The Bu...

Boeing to move historic financing arm under jet business

17Feb

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Business

Boeing to move historic financing arm under jet business

WASHINGTON/PARIS, Feb 16 (Reuters) - Boeing (BA.N) said on Thursday it is absorbing its decades-old aircraft-financing arm into its commercial airplanes unit as part of a push to simplify its corporate structure.After the retirement of Boeing Capital Corp (BCC) President Tim Myers this spring, Boeing said it would "realign" the financing arm within the commercial airplane unit while maintaining "strong coordination" with Boeing's treasury arm.Airfinance Journal earlier reported the move.Boeing Capital, a subsidiary of Boeing, provides asset-based financing and leasing to airlines lacking access to funding.The realignment will "focus resources on our core work of supporting our customers and their financing needs," Boeing Chief Financial Officer Brian West said in an internal memo viewed...

ABB sells its power conversion division for $505 million

20Jan

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Technology

ABB sells its power conversion division for $505 million

ZURICH, Jan 20 (Reuters) - ABB (ABBN.S) has sold its power conversion business to AcBel Polytech Inc (6282.TW) for $505 million, the Swiss engineering and technology company said on Friday.The sale is the last part of ABB's measures to trim its portfolio of companies which saw it sell its power transmission unit Dodge and spin off its turbocharging business Accelleron to shareholders.ABB said it expects to make a small non-operational book gain from the sale of the United-States-based Power Conversion business, which provides products for telecoms, data centres and general industry.Chief Executive Bjorn Rosengren said he was "delighted" with the deal which completed divisional portfolio divestments announced by ABB at the end of 2020.Power Conversion was acquired by ABB as part of the G...

CES technology trade show adopts social theme

6Jan

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Technology

CES technology trade show adopts social theme

Las Vegas, Jan 6 (Reuters) - Farm equipment took the keynote spotlight at the CES technology trade show in Las Vegas, as "human security for all" became the first theme in its 56-year history.In his speech opening the Consumer Electronics Show on Thursday, John Deere Chief Executive John May laid out a strategy of using technology to feed a hungry world as arable land and rural labor decline while costs are rising."Technology allows farmers to create more with less," May told an audience of 2,000 at one of the world's largest tech events, organized by the Consumer Technology Association (CTA).The trade group is partnering with the World Academy of Art and Science and the United Nations Trust Fund for Human Security to encourage the tech industry to help tackle the world's most pressing ...

China’s COVID situation is worrying, says French health minister

5Jan

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Health

China’s COVID situation is worrying, says French health minister

PARIS, Jan 5 (Reuters) - The situation regarding COVID infections in China is "worrying", the French health minister said on Thursday although he added that pressure on France's hospitals regarding COVID was easing.European Union member states on Wednesday agreed to introduce some safety measures with regard to travellers from China, as the bloc's crisis response group recommended that passengers flying to the EU should have a negative COVID-19 test before they board."We're declining considerably, including with regard to people in hospital, but what's going on in China is worrying", France's Health Minister Francois Braun told France 2 television.Reporting by Tassilo Hummel; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles. Source link

China’s stretched health system braces for peak in COVID infections

23Dec

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Health

China’s stretched health system braces for peak in COVID infections

COVID infections may peak next week - Chinese health officialChina reports no new COVID deaths for third dayChina still ill-prepared for major outbreak - expertsBEIJING/SHANGHAI, Dec 23 (Reuters) - China is expecting a peak in COVID-19 infections within a week, a health official said, with authorities predicting extra strain on the country's health system even as they downplay the disease's severity and continue to report no new deaths.In the face of a surging outbreak and widespread protests against its "zero-COVID" regime of lockdowns and testing, China began dismantling it this month, becoming the last major country to move towards living with the virus.Its containment measures had slowed the economy to its lowest growth rate in nearly half a century, jamming global supply chains and...

Amid health fears, plastic makers pledge greater transparency over chemicals

30Nov

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Health

Amid health fears, plastic makers pledge greater transparency over chemicals

Nov 30 (Reuters) - Plastic makers need to be more transparent about the chemicals used in their products, a leading chemicals industry group has said, as concern mounts about the health impacts of the everyday material finding its way into the food chain and human bodies.Tiny fragments of plastic have been found in blood samples, stools and placentas of unborn babies, recent studies have shown. Scientists are trying to understand the health risks of this new phenomenon, but concerns range from the impact on organs to how some plastic additives might disrupt hormonal systems."We certainly recognise that on the issue of additives in particular there is a need for more information and increased transparency," Stewart Harris, senior director for global plastics policy at the American Chemis...