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Thyssenkrupp


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Thyssenkrupp steel head prepares staff for 'tough' cuts

Thyssenkrupp steel head prepares staff for 'tough' cuts FRANKFURT, Sept 28 (Reuters) - Thyssenkrupp's TKAG.DE 27,000 steel workers must brace for deep cuts, the new head of the conglomerate's steel division told a German newspaper, setting the stage for significant layoffs. "Tough cuts are necessary. We have to become more profitable," Dennis Grimm, spokesperson for Thyssenkrupp Steel Europe's (TKSE) executive board, told Westdeutsche Allgemeine Zeitung (WAZ) in an interview.
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Volkswagen cuts 2024 outlook as car demand falters

UPDATE 3-Volkswagen cuts 2024 outlook as car demand falters Volkswagen now expects profit margin of around 5.6% Outlook cut comes amid tough pay talks with unions BMW, Mercedes-Benz also slashed outlooks in September Adds details, context from paragraph 7 By Christoph Steitz and Christina Amann FRANKFURT/BERLIN, Sept 27 (Reuters) - Volkswagen VOWG_p.DE cut its annual outlook for the second time in less than three months on Friday, citing a weaker-than-expected performance at its passenger car di
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Thyssenkrupp names Henne as steel unit's new supervisory board head

Thyssenkrupp names Henne as steel unit's new supervisory board head DUESSELDORF, Sept 26 (Reuters) - Thyssenkrupp named Ilse Henne as chairman of its steel division's supervisory board on Thursday as part of a management shuffle at the unit after the previous leadership departed amid a deepening conflict over the future of the steel business. Henne succeeds Sigmar Gabriel, who announced he was stepping down last month along with several other members of Thyssenkrupp Steel Europe's (TKSE) managem
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Volkswagen digs in as workers threaten strikes over plant closures

UPDATE 5-Volkswagen digs in as workers threaten strikes over plant closures Company has said plant closures may be needed in Germany Unions have vowed to fight any such moves German industry struggling with high costs, competition Union threatens strikes from December Recasts with statements after talks By Christina Amann, Christoph Steitz and Matthias Williams HANOVER, Germany, Sept 25 (Reuters) - Volkswagen VOWG_p.DE flatly rejected union demands after the first round of bitterly contested tal
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Volkswagen starts key pay talks with unions in shadow of possible plant closures

Volkswagen starts key pay talks with unions in shadow of possible plant closures Company has said plant closures may be needed in Germany Unions have vowed to fight any such moves German industry struggling with high costs, competition HANOVER, Germany, Sept 25 (Reuters) - Powerful trade unions and executives at Volkswagen VOWG_p.DE will kick off talks over pay on Wednesday that are likely to determine how aggressively Europe's biggest automaker pursues layoffs and potential factory closures in
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Thyssenkrupp to reorganise steel division management, reports Handelsblatt

BRIEF-Thyssenkrupp to reorganise steel division management, reports Handelsblatt Sept 24 (Reuters) - Thyssenkrupp AG TKAG.DE : THYSSENKRUPP REORGANIZES THE MANAGEMENT OF THE STEEL DIVISION, HB REPORTS NEXT THURSDAY, THE STEEL MANUFACTURER'S SUPERVISORY BOARD IS TO DECIDE ON NEW PERSONNEL IN AN UNSCHEDULED MEETING, HB REPORTS GROUP CEO ILSE HENNE IS
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Singapore commissions two new submarines as Asia's undersea rivalry grows

Singapore commissions two new submarines as Asia's undersea rivalry grows By Gerry Doyle SINGAPORE, Sept 24 (Reuters) - Singapore commissioned two new advanced submarines on Tuesday, vessels its navy says are meant to protect sea lines of communication, and which experts said would range beyond the waters of the tiny city-state to keep tabs on the region.
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ASOS, JTC, London Stock Exchange

EUROPE RESEARCH ROUNDUP-ASOS, JTC, London Stock Exchange Sept 19 (Reuters) - Securities analysts revised their ratings and price targets on several European companies including ASOS, JTC and London Stock Exchange, on Thursday. HIGHLIGHTS * ASOS Plc ASOS.L : HSBC cuts to reduce from hold * JTC Plc JTC.L : RBC raises target price to 1,100p from 980p * London Stock Exchange LSEG.L : HSBC raises target price to 10,000p from 9,400p * Nordic Semiconductor ASA NOD.OL : Barclays cuts target price to NOK
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Thyssenkrupp steel has commissioned two external reports about financial health

Thyssenkrupp steel has commissioned two external reports about financial health DUISBURG, Sept 16 (Reuters) - Thyssenkrupp TKAG.DE has commissioned two external reports to drill down on the steel business's short- and long-term financial health and needs, the division's executive board spokesman said on Monday. One of the reports will "provide important findings for the further planning and financing of the steel division, which will be incorporated into the decision-making process for the reali
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Thyssenkrupp must commit to $3.3 bln green steel project, Habeck says

UPDATE 3-Thyssenkrupp must commit to $3.3 bln green steel project, Habeck says Adds context, TKSE management board spokesperson in paragraphs 8-10 By Matthias Inverardi, Tom Käckenhoff and Christoph Steitz HERNE/DUISBURG/FRANKFURT, Sept 16 (Reuters) - Germany's Thyssenkrupp TKAG.DE must demonstrate its commitment to a planned 3 billion euro ($3.3 billion) green steel site, the country's Economy Minister Robert Habeck said on Monday, days after the company flagged the project's cost may increase
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Thyssenkrupp must renew commitment to $3.3 bln green steel project, Habeck says

Thyssenkrupp must renew commitment to $3.3 bln green steel project, Habeck says HERNE, Germany, Sept 16 (Reuters) - Germany's Thyssenkrupp TKAG.DE has to make a clear commitment to a planned 3 billion euro ($3.3 billion) green steel site, the country's Economy Minister Robert Habeck said only days after the company flagged the project may get more expensive.
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Thyssenkrupp's $3.3 bln green steel plant could get more expensive

UPDATE 1-Thyssenkrupp's $3.3 bln green steel plant could get more expensive Adds details from paragraph 2 DUESSELDORF, Sept 12 (Reuters) - Thyssenkrupp's TKAG.DE steel division on Thursday said a planned direct reduction site to produce carbon-free steel, which is so far expected to cost around 3 billion euros ($3.3 billion), could b e more expensive th a n previously thought .
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Thyssenkrupp's $3.3 bln green steel plant could get more expensive

Thyssenkrupp's $3.3 bln green steel plant could get more expensive DUESSELDORF, Sept 12 (Reuters) - Thyssenkrupp's TKAG.DE steel division on Thursday said that a planned direct reduction site to produce carbon-free steel, which is so far expected to cost around 3 billion euros ($3.3 billion), could get more expensive. The business division said tha
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IG Metall union sees no quick fix in Thyssenkrupp steel funding dispute

IG Metall union sees no quick fix in Thyssenkrupp steel funding dispute DUESSELDORF, Sept 11 (Reuters) - IG Metall, Germany's most powerful union, expects talks to drag on over how to properly fund Thyssenkrupp's TKAG.DE steel division once it is separated, one of its regional heads said, less than two weeks after the unit's leadership resigned. "Not this year," Knut Giesler, who heads IG Metall's branch in North Rhine-Westphalia, where Thyssenkrupp is based, told journalists when asked when cri
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VW factory threat stress-tests Germany's economic model

ANALYSIS-VW factory threat stress-tests Germany's economic model Industrial consensus key part of German model Volkswagen plant closure threat breaks taboos Ruling coalition struggling to agree policy By Maria Martinez and John O'Donnell BERLIN, Sept 6 (Reuters) - Having lost cheap energy from Russia and facing uncertainty over its once-lucrative trade ties with China, big German business is now facing a crunch point over a third ingredient in its long-time formula for success - consensual indus
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VW row flags Germany’s creaking corporate model

BREAKINGVIEWS-VW row flags Germany’s creaking corporate model The author is a Reuters Breakingviews columnist. The opinions expressed are his own. By Pierre Briancon BERLIN, Sept 5 (Reuters Breakingviews) - A company whose chief financial officer says it only has “one, maybe two” years to turn around its core brand must have done something wrong.
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European companies cut jobs as economy sputters

FACTBOX-European companies cut jobs as economy sputters Adds Telia Sept 4 (Reuters) - Elevated levels of inflation and the impact of the war in Ukraine have forced companies across Europe to freeze hiring or cut jobs. Here are some of the layoffs announced since the start of April: BANKS * TSB: The British bank owned by Spain's Sabadell SABE.MC is seeking 250 job cuts, its spokesperson and employee union said on May 8. INDUSTRIALS AND ENGINEERING * PKP CARGO PKPP.WA : Poland's largest freight co
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Thyssenkrupp To Nominate Henne To Succeed Gabriel As Head Of Steel Supervisory Board - Newspaper

BRIEF-Thyssenkrupp To Nominate Henne To Succeed Gabriel As Head Of Steel Supervisory Board - Newspaper Sept 3 (Reuters) - Rheinische Post newspaper: THYSSENKRUPP AG TO NOMINATE ILSE HENNE TO SUCCEED SIGMAR GABRIEL AS HEAD OF STEEL SUPERVISORY BOARD Further company coverage: TKAG.DE Reporting by Berlin Newsroom
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From peace-maker to taboo-breaker, VW boss Blume takes on the unions

ANALYSIS-From peace-maker to taboo-breaker, VW boss Blume takes on the unions Company will look at possible plant closures in Germany Automaker battling failing competitiveness and investment needs Labour controls 50% of supervisory board, can block changes By Victoria Waldersee, Ilona Wissenbach and Christoph Steitz BERLIN/FRANKFURT, Sept 3 (Reuters) - Volkswagen boss Oliver Blume, already battling slowing demand for electric cars and Chinese rivals, must now put aside his mantle as team player
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Changes To STOXX 600 Index As Of Sept. 23

BRIEF-Changes To STOXX 600 Index As Of Sept. 23 Sept 2 (Reuters) - STOXX Ltd.: ANNOUNCED ON MONDAY NEW COMPOSITION OF THE STOXX EUROPE 600 INDEX COMPANIES ADDED TO THE INDEX: PUIG BRANDS B PUIGb.MC , BAVARIAN NORDIC BAVA.CO , SHAFTESBURY CAPITAL SHCS.L , CVC CAPITAL PARTNERS CVC.AS AND FINANCIERE DE TUBIZE TUB.BR COMPANIES DELETED FROM INDEX: FLUTTER ENTERTAINMENT FLTRF.L , UBISOFT ENTERTAINMENT UBIP.PA , THYSSENKRUPP TKAG.DE , FORVIA FRVIA.PA , INDIVIOR INDV.L CHANGES EFFECTIVE AS OF SEPT.
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