ROUNDUP: Porsche driver Blume succeeds Volkswagen boss Diess
WOLFSBURG – In the end it was probably a problem, one argument too many. Herbert Diess is said to have twice narrowly missed being kicked out as VW (Volkswagen (VW) vz) CEO. The surprising news came on Friday evening: the busy chairman, who was often criticized for his erratic behavior and roughness, is leaving. On September 1st, he will be succeeded by the head of Porsche, Oliver Blume.
Kreise: Diess is to advise VW after his departure as CEO
WOLFSBURG – According to group circles, Volkswagen (VW) boss Herbert Diess will continue to work for the company after his departure. The 63-year-old will remain as a consultant until the end of the contract in autumn 2025 and will continue to be paid, the German press agency learned. VW (Volkswagen (VW) vz) announced on Friday that the manager would be handed over to Porsche boss Oliver Blume on September 1st.
Supplier Schaeffler buys drive manufacturer
HERZOGENAURACH – With the Ewellix Group, Schaeffler wants to buy a drive manufacturer and thus expand its industrial division. The automotive and industrial supplier from Herzogenaurach in Franconia will pay around 582 million euros for the subsidiary belonging to the investment company Triton, as Schaeffler announced on Sunday. “This value does not include Ewellix’s net debt of around 120 million euros to be assumed by Schaeffler.” The purchase should be completed by the end of the year after approval by the authorities.
T-Mobile US in $500 million data theft settlement
BELLEVUE – The American Telekom subsidiary T-Mobile US wants to pay half a billion dollars to settle user complaints after a major hacker attack. According to the agreement published at the weekend, 350 million dollars (343 million euros) are to flow into a fund for suing US customers. A further 150 million dollars are to be spent this year and next to improve cyber security.
Orange and Masmovil merge Spanish business – new market leader
PARIS/MADRID – The telecommunications groups Orange and Masmovil Ibercom are merging their Spanish business. The transaction is based on a company value of 18.6 billion euros, the two companies announced at the weekend. In March, when the companies had officially made the corresponding talks, the company value had been stated to be one billion euros higher.
Press: Credit Suisse plans further cost-cutting measures
ZRICH – According to a media report, the Swiss Credit Suisse (Credit Suisse (CS)) is planning further cost-cutting measures. The big bank is planning a “new, big savings package”, writes the “Sonntagszeitung”, citing a high-ranking bank manager.
Verdi insists on real wage security for all port workers
HAMBURG – In the collective bargaining dispute in the North Sea ports, the Verdi union is insisting on securing real wages for all employees in view of the high inflation. “That’s still what we want,” said Verdi negotiator Maya Schwiegershausen-Gth of the German Press Agency. “Compensating for inflation is important for all colleagues, especially for the lower wage groups, where that makes a clear difference if they now have to pay 38 percent more for energy or almost 13 percent for food.”
ROUNDUP: Busy airports – situation partly chaotic, partly relaxed
FRANKFURT/KLN – Chaos in Cologne, relaxed mood in Frankfurt/Main: German airports took different stocks at the weekend. There were no major problems at Frankfurt Airport on the first weekend of the summer holidays in several federal states. The terminals are busy, but so far everything is working properly, said a spokesman for the operator Fraport on Sunday. At Cologne/Bonn Airport, on the other hand, there were again major problems with the handling of passengers. In front of the security areas, queues sometimes formed several hundred meters up to the terminals.
High Alert: Monkeypox outbreak is international emergency
GENEVA – In view of the rapid spread of monkeypox, the World Health Organization (WHO) has declared the highest alert level. The outbreak is an “emergency of international concern,” said WHO Director-General Tedros Adhanom Ghebreyesus in Geneva on Saturday. “There is clearly a risk of further international spread, although the risk of disruption to international travel remains low,” he said.
ROUNDUP: EU Commission wants to relax agri-environmental rules for higher production
BRSSEL – In view of rising food prices worldwide and the threat of bottlenecks, environmental regulations for farmers are to be relaxed in the EU. The EU Commission announced on Friday that food production should thus be increased. Specifically, the authority proposed granting exceptions for so-called crop rotation rules and set-aside of arable land for one year.
Organic still in demand – but more in discounters and supermarkets
NRNBERG – The rising prices have not spoiled the appetite for organic food. “The good news is that organic remains stable – more stable than the food market as a whole,” said Tina Andres from the Federal Organic Food Industry (BLW). “Overall, the organic customers have remained loyal.” However, some of them have shifted their purchasing behavior and are increasingly buying organic products in discounters and supermarkets instead of in organic food stores.
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Additional Reports
-Nuclear power, yes please? Continued operation dependent on several factors
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-ROUNDUP: Debate on lifting corona isolation and quarantine obligations
-Netzagentur: LNG from Western Pomerania is also important for southern Germany
Union faction calls for a fixed price for basic gas needs
-Major fires in London and Surrey – Fire service declares major damage situation
-Ukrainian ports prepare export of grain
-Hessischer Rundfunk: Million deficit in 2021 lower than expected
-Forest fire season: Greens and FDP for the purchase of firefighting aircraft
-Researcher: Energy transition still falls short – ‘pulling out all the stops’
-ROUNDUP: Traffic light coalition argues about debt brake and 9-euro ticket
Customer note:
ROUNDUP: You are reading a summary in the company overview. There are several reports on the dpa-AFX news service on this subject.
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