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...Since Russia’s full-scale invasion of Ukraine in 2022, Rheinmetall’s share price has surged more than fivefold and the company expects to have a backlog of orders from Nato members and its allies worth €60bn...
...He said Germany and the EU as a whole needed to generate sufficient green electricity at competitive prices, build the right infrastructure for electricity and hydrogen, and develop less bureaucracy and...
...The continent then endured further structural hardships as soaring energy prices in the wake of Russia’s invasion of Ukraine added to already elevated production costs....
...Last week British Airways owner IAG reported record full-year profits, noting that prices were “holding up well”....
...“We have a careful positioning in the luxury segment in China and will not follow suit with price discounts”....
...But to manufacture models in Europe for this price, the companies must look to cut costs further....
...BASF has announced an additional €1bn of cost-cutting at its home site in Ludwigshafen, intensifying a planned downsizing in Germany amid sinking demand and higher energy prices....
...It comes after the group has suffered falling prices for its chemicals amid lower demand....
...BASF has announced an additional €1bn of cost cutting at its home site in Ludwigshafen, intensifying a planned downsizing in Germany due to low demand and “structurally” higher energy prices....
...It wrote down its steel business — Germany’s largest — by a further €200mn, adding to the €2.1bn writedown it booked in November because of high prices for gas and other raw materials....
...Sales and profits tumbled at BASF last year, as the world’s biggest chemicals group struggled with high energy prices and a slowdown in global demand....
...The cost of that pollution is set to increase in coming years, because the price of carbon credits that energy-intensive sectors buy to offset their emissions is widely expected to rise....
...Aurubis insists its finances are strong enough to absorb the blows, despite a big hit to profits and a tumbling share price....
...The commission is investigating whether Chinese carmakers are receiving subsidies from Beijing enabling them to lower prices on vehicles exported to Europe, undercutting the region’s own manufacturers....
...He said at the time that the company needed to cut costs in the region “as quickly as possible and also permanently” due to soaring energy prices and tightening EU regulations....
...The world’s biggest chemical group, BASF, for example, has announced permanent cost cuts at its Ludwigshafen headquarters because of high energy prices....
...patricia.nilsson@ft.com...
...Thyssenkrupp has written down the value of its steel business by €2.1bn, pushing Germany’s largest steelmaker into the red as it warns of low demand and prices amid the gloomy economic climate....
...“I can only confirm that we’ll maintain our price discipline,” he said....
...Its share price, which has risen by more than 80 per cent in the past year, fell by one per cent following news of the improved bid from Schaeffler....
...Mercedes-Benz’s profits have been hit by a “brutal” price war in electric vehicles as demand lags behind in the face of a weaker economy....
...BASF is slashing its five-year investment budget by €4bn, as the world’s largest chemical company struggles with slowing demand and lower prices for its products....
...Thyssenkrupp has written down its steel business by €2.1bn, pushing Germany’s largest steelmaker into the red as it warns of low demand and prices....
...Hapag-Lloyd’s share price was up nearly 5 per cent on Thursday morning, despite the gloomy outlook, after a decline of nearly a third in the past month....
...“There are risks from a further decline in volumes and a stronger price reduction than expected,” said chief executive Martin Brudermüller....
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