Planemakers race for wide-body orders in Asia showdown

(Reuters) – Airbus and Boeing are battling for wide-body aircraft orders worth well over $10 billion as the clock ticks toward next week’s Paris Airshow, industry sources said. The contests include a fight for business at Philippines budget airline Cebu Air as Airbus seeks a new foothold for its slow-selling A330neo airliner in the face of competition from Boeing’s 787 […]

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Thyssenkrupp agrees restructuring approach with labor leaders

DUESSELDORF (Reuters) – Management and labor leaders at Germany’s Thyssenkrupp have agreed on a way forward after the industrial conglomerate announced a fresh restructuring drive that could lead to the loss of 6,000 jobs. Agreement was reached in talks between management and workers overnight to recognize the need for radical action whilst ensuring fair treatment of employees at the Essen-based […]

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Thyssenkrupp agrees restructuring approach with labor leaders

DUESSELDORF (Reuters) – Management and labor leaders at Germany’s Thyssenkrupp have agreed on a way forward after the industrial conglomerate announced a fresh restructuring drive that could lead to the loss of 6,000 jobs. Agreement was reached in talks between management and workers overnight to recognize the need for radical action whilst ensuring fair treatment of employees at the Essen-based […]

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IMF chief Lagarde says Brexit delay avoids 'terrible outcome'

WASHINGTON (Reuters) – The six-month delay of Britain’s exit from the European Union avoids the “terrible outcome” of a “no-deal” Brexit that would further pressure a slowing global economy but does nothing to lift uncertainty over the final outcome, the head of the International Monetary Fund said on Thursday. Moreover, the just-struck arrangement would not resolve the issues between Britain […]

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Auto woes drive dip in German industrial output

BERLIN (Reuters) – Plunging car production drove an unexpected drop in German industrial output in January, as the engine room of Europe’s largest economy stuttered on trade tensions and unease about Brexit. A global slowdown, tariff disputes sparked by U.S. President Donald Trump’s ‘America First’ policies and a potentially chaotic British departure from the European Union threaten to bring a […]

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German Jobless Decline, Retail Sales Jump Signal Strong Consumption Gains Ahead

Germany’s unemployment declined sharply in February, while retail sales rebounded strongly in January, both surpassing economists’ expectations by wide margins, suggesting that the growth in the biggest euro area economy is set to be driven by private consumption as exports suffer due to global factors. The seasonally adjusted number of unemployed fell by 21,000 in February, figures from the Federal […]

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Germany's Merck makes $5.9 billion counterbid for Versum

FRANKFURT (Reuters) – German drugs and lab supplies maker Merck KGaA offered $5.9 billion, including debt, for Versum Materials, in a cash deal that tops an offer from U.S. rival Entegris, as both seek to boost their electrochemicals operations. Shares in electronic materials maker Versum soared 18.7 percent to close at $49.13 on Wednesday, while shares in Merck lost 4.2 […]

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German government to consult further before taking Huawei decision: source

BERLIN (Reuters) – The German government will consult further with telecoms operators and vendors before deciding whether to let Chinese firms such as Huawei Technologies participate in building future 5G mobile networks, a senior source said. A decision is unlikely within the next two weeks, the source added, after ministers discussed the matter last week against a backdrop of U.S. […]

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German Ifo Business Confidence Lowest In Nearly 3 Years Amid Rising Worries

Germany’s business confidence fell for a fifth successive month in January to its lowest level in nearly three years as firms grew more worried about the impact of a chaotic no-deal Brexit and further escalation of the global trade tensions. The Business Climate Index fell to 99.1 in January, which is the lowest level since February 2016, from 101.0 points […]

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Deutsche Telekom reviews procurement plans amid Huawei concerns

FRANKFURT (Reuters) – Deutsche Telekom said on Tuesday it is reviewing its network equipment procurement plans after the United States moved to restrict China’s Huawei Technologies from accessing its next-generation mobile networks. Huawei is at the center of a diplomatic row after U.S. officials briefed Western allies that Huawei’s network equipment may contain “back doors” which enable cyber espionage. Huawei […]

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