Conglomerate AB Foods benefits from Primark recovery and price hikes
LONDON – The British conglomerate AB Foods also increased its sales in the third quarter thanks to a further recovery in business at its cheap textiles chain Primark clearly improved. At constant exchange rates, revenue in the quarter (ending May 28) rose by around a third to a good four billion pounds sterling (almost EUR 4.7 billion). The food business contributed the lion’s share with a currency-adjusted increase of 10 percent to 2.3 billion pounds. Here the company benefited from price increases.
ROUNDUP 2: Airlines expect profit again in 2023 – less loss this year
DOHA – After two tough years of losses due to the corona pandemic, the aviation industry sees reason for optimism. The industry should be back in the black by 2023, said IATA Director General Willie Walsh at the General Assembly in Doha on Monday. According to his estimates, the airlines in North America should already be able to make billions in profits this year, while the industry in Europe is still in the red. The increase in kerosene prices as a result of the Russian attack is causing problems for the companies. However, they can also impose higher ticket prices on their customers.
ROUNDUP: Easyjet cuts flights due to staff shortages at airports
LUTON – Due to the lack of staff at airports, the low-cost airline Easyjet cuts their capacity for the second half of the financial year. This will lead to a cost burden and more costs would be incurred than previously estimated in the forecast, the company in Luton, UK, said on Monday without giving specific figures. Analyst Alex Irving from Bernstein Research estimates the additional costs due to the outages to be between 100 and 200 million pounds sterling (up to just under 233 million euros).
IPO: ABB postpones IPO of its e-mobility division
ZURICH – The technology group ABB postpones the planned IPO of the e-mobility division. The listing of the business remains part of ABB’s strategy. However, current market conditions made it difficult to proceed with the initial public offering planned for the second quarter of 2022, the company announced on Monday. The ABB share price in Zurich was recently 0.7 percent in the red and thus lost more than the overall market.
Airbus boss Faury: Talking to Qatar Airways in the paint dispute
According to its boss, the Airbus Group is in talks with the dissatisfied major customer Qatar Airways about the surface damage to its A350 jets. “These are not easy discussions,” said Guillaume Faury in an interview with Bloomberg news agency in Doha on Sunday. “They haven’t come to a conclusion yet and we’re still trying.”
Circles: Air India could order up to 300 aircraft from Airbus or Boeing
According to sources, the Indian airline Air India is considering a major order from the European aircraft manufacturer Airbus to renew its fleet – or at US rival Boeing . The Indians could order up to 300 machines, the Bloomberg news agency reported on Sunday, citing people familiar with the matter. It could therefore amount to the A320neo family from Airbus or the 737 Max from Boeing, possibly a mixture of both types. Air India declined to comment on the information to Bloomberg. The company now belongs to the conglomerate Tata Group./men
EPA has to review glyphosate again – Bayer wins further lawsuit
SAN FRANCISCO/JACKSON COUNTY – The US Environmental Protection Agency has been ordered by an appeals court to re-examine the health risks of glyphosate. On Friday (local time) in San Francisco, the court classified the EPA’s assessment, according to which the active ingredient in Bayer’s controversial weed killer Roundup poses no particular danger to humans, as doubtful. The topic is for the pharmaceutical and chemical group Bayer of great importance. He is facing numerous US lawsuits in the US over alleged cancer risks from glyphosate. On Friday there was for the Dax company but there is also good news: in a lawsuit in the state of Oregon, it achieved another success in court. Bayer has now won the last four US lawsuits involving plaintiffs who blame glyphosate for cancer.
Beekeeper wins lawsuit over glyphosate in honey
FRANKFURT (Oder) – In the lawsuit brought by a beekeeper for using the weed killer glyphosate, the defendant agricultural company has to pay full damages. The district court in Frankfurt (Oder) ordered the company to pay the plaintiff around 14,500 euros for the damage caused. In addition, it must bear the legal costs. The court ruled on a case-by-case basis. From the point of view of the court, the beehives were visible to everyone. In view of the intensity of the contamination, illegality had been determined, said a court spokesman. In addition, the agricultural company acted negligently. The judgment can be appealed against.
Autoverband VDA lowers forecast for the current year again
BERLIN – Within two months, the German Association of the Automotive Industry (VDA) has revised its sales expectations for the current year downwards for the second time. Due to the ongoing material shortages, the VDA is now assuming that there will be 2.7 million new registrations in Germany this year, as it announced in Berlin on Monday. It was only at the beginning of May that the association reduced its forecast from 2.8 to 2.75 million cars. “Since the beginning of the year, the framework conditions for the automotive industry have clouded over significantly,” it said.
RWE boss expects high gas and electricity prices for years to come
MUNICH – The CEO of the Essen energy company RWE , Markus Krebber, expects gas and electricity prices to remain high for years after Russia attacked Ukraine. “It will probably take three to five years,” said the manager of the “Süddeutsche Zeitung” (Monday) on the energy bottlenecks in Germany. “Because it takes time before new capacities are created and other countries can supply additional energy.” Krebber welcomed the plans of Federal Economics Minister Robert Habeck (Greens) to start up coal-fired power plants again in order to save natural gas. “Everywhere where you can switch to other energy sources, this should happen.”
Additional Reports
-Airbnb temporarily accommodates 100,000 refugees worldwide
-Credit insurers: Debt collection difficult in many countries
-British railway workers plan to go on strike for several days
-6.85 million bring the Munich “crime scene” into their homes
-Brussels airport cancels all passenger flight departures due to strike
– Roche subsidiary Chugai receives approval extension for hemophiliac Hemlibra
-Development Minister: Strengthen local cultivation against the hunger crisis
-Environmental aid: Traffic light must stop unwanted mailbox advertising
-‘Expropriate Deutsche Wohnen & Co.’: Berlin housing alliance failed
-Paramount+ is coming: New player on the German streaming market
-Berlin tenants’ association does not sign alliance for housing
According to media reports, BVB is interested in ex-Frankfurter Haller
-Press: Credit Suisse faces another multi-million dollar legal case
-Telegram launches subscriptions with more features
-Federal government wants to accelerate procurement for the Bundeswehr
-Consumer advocates for more rules on zero percent financing
-Russia wants to revive car brands Volga and Pobeda°
Customer note:
ROUNDUP: You read a summary in the company overview. There are several reports on the dpa-AFX news service on this subject.
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