BERLIN (Reuters) -The German cabinet passed changes on Wednesday to the national supply chain act to exempt larger companies from certain documentation requirements that have been criticised as costly and bureaucratic. The law, which took effect in January 2023, makes German firms with more than 1,000 staff take due diligence procedures to monitor suppliers’ human …
German cabinet approves exemptions to supply chain act Read More »
FRANKFURT (Reuters) -Deutsche Bank will stick to its so-called Global Hausbank strategy but needs to improve capital allocation and profitability, CEO Christian Sewing said on Wednesday. Sewing, speaking at a banking conference in Frankfurt, said the bank was focused on itself and not on mergers and acquisitions. Deutsche Bank under Sewing is the final stretches …
Deutsche Bank needs to improve capital allocation, profitability, CEO says Read More »
By Sarah Young LONDON (Reuters) -The senior creditors of Thames Water have presented a last-ditch turnaround plan to stop the utility being nationalised, promising an improvement in sewage spills to win over the regulator. For 18 months, Thames Water has been at the centre of a scandal in Britain’s water sector, with the company fined …
Investor group submits last-ditch rescue plan for Thames Water Read More »
BERLIN (Reuters) -German engineering orders rose 4% in July from a year ago, with strong demand from non-euro zone countries offsetting stagnant domestic demand, but overall momentum remains subdued this year, engineering association VDMA said on Wednesday. Domestic orders and those from euro zone countries were flat in July while foreign orders rose 7%, driven …
German engineering orders up 4% in July on strong demand from outside euro zone Read More »
BERLIN (Reuters) -Germany’s VC pilots’ union called for a ballot of its members on strike action after talks with airline Lufthansa on its pension scheme collapsed, the union said in a statement on Wednesday. Lufthansa said it continued to focus on achieving a solution through negotiation and declined to comment on the content of the …
Lufthansa faces possible pilot strike after pension talks fail Read More »
BERLIN (Reuters) -German services sector activity contracted slightly in August after a marginal expansion in July, as new business shrank again, a survey showed on Wednesday. The HCOB Germany Services PMI fell to 49.3 in August from 50.6 in July. Any reading below 50 signals a drop in overall activity, while above that mark indicates …
German services activity returns to contraction in August, PMI shows Read More »
BERLIN (Reuters) -Deutsche ReGas on Wednesday said it had signed long-term agreements with German chemical producer BASF and Norway’s energy major Equinor for liquefied natural gas regasification capacity at its terminal in Mukran on the Baltic Sea. “We are proud to support the energy security of one of the leading chemical companies and to work …
Deutsche ReGas secures LNG regasification deals with BASF, Equinor Read More »
PARIS (Reuters) -France’s services sector contracted only very slightly in August, with overall business activity nearing stabilisation, an S&P Global survey showed on Thursday. The HCOB France Services PMI rose to 49.8 in August from 48.5 in July, marking its highest reading in a year but holding just below the 50.0 threshold separating growth in …
French services sector nears stabilisation in August, PMI shows Read More »
ROME (Reuters) -Italy’s service sector expanded for a ninth month running in August but at the slowest pace since January, a survey showed on Wednesday, dampening hopes of recovery for the country’s sluggish economy. The HCOB Purchasing Managers’ Index (PMI) for services fell to 51.5 in August from 52.3 the month before, slipping closer to …
Italy service sector growth slows in August, PMI shows Read More »
(Reuters) -Germany’s chemical industry association on Wednesday said its capacity utilization hit its lowest level in more than 30 years in the second quarter as sales and prices declined on uncertainties around U.S. tariffs. In the April-June period, Germany’s chemical industry was running at only 72% of its full production capacity, the lowest level since …
German chemical sector running at lowest capacity in more than 30 years, VCI says Read More »
