New Nestle boss wants to improve performance after poor figures – share falls
VEVEY – The Swiss food group Nestlé has unexpectedly replaced its boss. The new company leader and company veteran Laurent Freixe now wants to improve performance again and gain market share. In the past few quarters, the food multinational had disappointed with its figures. This was recently reflected in the share price, which developed poorly. Chairman of the Board of Directors Paul Bulcke did not want to confirm that this was the reason for the change at the top of the group in a telephone conference with analysts on Friday.
ROUNDUP/Infineon: Multi-million dollar settlement with Qimonda insolvency administrator
NEUBIBERG – Semiconductor manufacturer Infineon has put an end to the years-long legal dispute in connection with the spin-off of its memory chip business Qimonda, which later went bankrupt. The company reached an agreement with the Qimonda insolvency administrator on a settlement worth 800 million euros. The administrator had originally demanded 3.4 billion euros plus interest. The dispute has been pending at the Munich I Regional Court since the end of 2010. The court has yet to confirm the settlement.
Rheinmetall boss wants to keep growth pace high – 40 billion in sales in sight
DÜSSELDORF – The arms company Rheinmetall wants to catch up with the world’s leading companies in the industry by the end of the decade. “To do this, we need an annual turnover of 40 billion euros,” said CEO Armin Papperger to the “Handelsblatt”. The company wants to exceed the ten billion euro threshold for the current year. This is an increase of 40 percent, said the CEO.
ROUNDUP: China talks with auto industry about import tariffs for combustion engines
BEIJING – China continues to target foreign car manufacturers with regard to possible import tariffs. The Ministry of Commerce invited experts, industry associations and industry representatives to gather opinions and suggestions on increasing tariffs on imported combustion-engine cars with large engines, the authority in Beijing announced. The ministry did not provide any further details about the participants or results of the meeting.
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-The Christmas tree is getting more expensive°
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AXC0144 2024-08-23/15:20
