Germany

Australialisted Vulcan Energy is in talks with lithium companies to licence its filtering technology, tapping a brand-new profits source as the firm commercialises its renewableenergy job in Germany, the CEO stated on Tuesday. Vulcan started producing lithium hydroxide previously this month from its Rhine Valley operations utilizing adsorption direct lithium extraction (A-DLE) - utilizing geothermal heat to extract lithium from brine deposits. DLE is expected to reshape the lithium market by speeding the production procedure of the metal used in EV batteries and electronic devices to hours or days, compared with months or longer. Vulcan has signed up with the...

A leading NATO military official on Monday prompted services to be prepared for a wartime circumstance and adjust their production and distribution lines accordingly, in order to be less susceptible to blackmail from nations such as Russia and China. If we can make certain that all vital services and products can be provided no matter what, then that is an essential part of our deterrence, the chair of NATO's military committee, Dutch Admiral Rob Bauer, stated in Brussels. Speaking at an event of the European Policy Centre think tank, he described deterrence as going far beyond military capability alone, considering...

Russia has actually apprehended a German citizen on suspicion of explosives-smuggling and terrorism, accusing him of exploding a. pipeline at a gas circulation station, the Federal Security Service. ( FSB) said on Wednesday. The FSB said the male, whom it named as Nikolai Gaiduk, had. been associated with the attack in Russia's Kaliningrad Baltic Sea. exclave in March, using a home-made bomb. It said he was detained during a subsequent effort to. go into Kaliningrad from Poland, when authorities searched his cars and truck. and discovered 0.5 litres of liquid dynamite. The FSB said Gaiduk was born in 1967 and...

OMV has actually gotten an arbitral award of over 230 million euros ($ 243.06 million) from the International Chamber of Commerce (ICC) in connection with irregular German gas products from Gazprom, the Austrian oil and gas group stated on Wednesday. The award, consisting of interest and costs, would positively contribute to its financial losses sustained in 2022, the business stated in a declaration. The oil and gas group anticipates a worsening of its contract with Gazprom Export, a subsidiary of the Russian gas giant, perhaps resulting in a halt of gas supply. The business validated it will balance out claims...

Siemens Energy on Tuesday raised its midterm outlook as it reported a brand-new record for its order book and a narrower fourthquarter loss, benefiting from rising need and a continuous turn-around at its having a hard time wind turbine system. In a critical 2024, we attained all our objectives, driven by strong orders and job execution across all our businesses. Our focus remains on successful growth, supported by highly favourable market conditions, CEO Christian Bruch said. Frankfurt-listed shares in Siemens Energy pared losses after the news, trading 1% lower at 1918 GMT. The power equipment supplier has actually emerged from...

European shares ended lower on Wednesday, following a broad rally earlier in the session, hurt by a drop in energies shares on fears that U.S. Presidentelect Donald Trump could halt fresh approvals for overseas wind jobs. Trump, who regained the White Home by protecting more than the 270 Electoral College votes required to win the presidency, had actually promised throughout his election project to scrap overseas wind projects by executive order on his first day in office. Shares of Oersted and Vestas fell 12.8%. each, while the wider energies sector was down 2.6%. The pan-European STOXX 600 was down 0.5%,...

Stateowned energy Uniper has actually started repaying Germany for a 13.5 billion euro ($ 14.7 billion) bailout it received throughout Europe's energy crisis, saying on Tuesday it had actually moved 530 million euros to the government in September. The company stated a different piece of arrangements was now valued at just under 2.5 billion euros, up from a preliminary 2.2 billion, and would likely be moved in early 2025, while the final quantity could still alter. The group is currently getting ready for a go back to the stock market after Berlin acquired 99.12% as part of its rescue, which...

Below are companyrelated news and stories from France and Benelux which could have an influence on the region's markets or private stocks. AIRPLANE: Airbus reported Q3 net income at EUR 983 million, and stated it would propose a third therm for CEO Guillaume Faury. AXA: Axa reported 9-month revenues up 7% at EUR 84.0 billion, in line with expectations. BNP PARIBAS France's most significant bank increased trading activity at its investment banking department helped it fulfill profit projections in the third quarter, after its customer finance and car-leasing organizations disappointed. ELIS: Elis revealed an earnings for Q3 at EUR 1.18...

German chemicals maker Covestro reduced the upper end of its fullyear core revenue projection variety on Tuesday for the 2nd time this year, citing lacklustre international demand in a tough financial environment. The company, whose primary products include foam chemicals utilized in mattresses, car seats and insulation for buildings, now anticipates its yearly core earnings to come between 1 billion and 1.25 billion euros ($ 1.08 billion-$ 1.35 billion). Covestro had actually previously anticipated its 2024 incomes before interest, tax, devaluation and amortisation (EBITDA) at 1 billion to 1.4 billion euros. Global demand is undamaged however stays at a low...

A German court on Wednesday dismissed a problem by Russian oil company Rosneft versus Shell's organized sale of a stake in Germany's. Schwedt refinery, a spokesperson for the court said. In the problem, submitted with the greater local court in. Duesseldorf, Rosneft tried to challenge Shell's strategies to offer. its 37.5% stake in the refinery, which is bulk owned by. Rosneft, to Britain's Prax. Rosneft had argued that under an agreement amongst Schwedt's. ownership consortium, existing investors have a right of. initially refusal which having Prax as a stakeholder in Schwedt. could jeopardise the sale of its own stake in...

The following are the leading stories in the Financial Times. Reuters has actually not verified these stories and does not attest their accuracy. Headings - Volkswagen fined by UK regulator for treatment of consumers in monetary problem - Nigeria declines Shell's planned sale of $1.3 bln onshore production system - UK will offer $3 bln towards G7 loan for Ukraine - UK workers' rights reforms to cost services 5 bln pounds a year - Serious Scams Workplace probes ₤ 112mn hotel developed by leading UK trade union Introduction - UK's monetary regulator, the Financial Conduct Authority, on Monday fined Volkswagen...

The European Union, rushing to develop a 9 million euro joint getting mechanism for important minerals and energy, is choosing between 8 bidders competing to develop a platform, documents revealed and sources with direct understanding told Reuters. The bloc's reasoning for pooling together buying orders is that it would hand individuals more take advantage of to attain more beneficial deals and rates for crucial minerals necessary for the green shift that sell thin and nontransparent markets frequently controlled by China. The EU aims to sign an agreement by the end of the year and begin establishing areas of the platform...

German commercial conglomerate Thyssenkrupp has not prepared a detailed proposal on how it intends to cut some 40% of tasks in its steel department, the Handelsblatt newspaper reported, raising questions on the practicality of its restructuring strategies. Under the strategies announced today, Thyssenkrupp Steel Europe (TKSE), which has a labor force of 27,000, stated it would cut 11,000 jobs in overall - 5,000 of which would be removed by 2030 and another 6,000 shed through spin-offs or divestitures. Beyond the figure of 11,000 tasks, however, it is unclear how Thyssenkrupp prepares to carry out the job cuts or reduce steel...

Independent professionals looking into the financial needs of Thyssenkrupp's steel business have actually taken a favorable view on its capability to continue as a going concern, Germany's Der Spiegel publication reported on Sunday. Citing educated sources, Der Spiegel reported that the steel company has financial security for at least for 2 years. There was no instant remark from Thyssenkrupp Steel when called . In September, Thyssenkrupp commissioned two external reports to take a deep take a look at the steel business's short- and long-term monetary health and needs. Previously this month, Thyssenkrupp said it had documented the value of its...

Volkswagen management and employee agents begin a third round of wage settlements on Thursday, with simply 10 days left to find a service before unions have actually threatened to escalate the battle with strikes across German websites. The settlements are over earnings for 120,000 of Volkswagen's. roughly 300,000 staff in Germany, employed at six plants. governed by a separate collective wage arrangement to the rest of. the labor force. Volkswagen has actually required a 10% wage cut, arguing it urgently. requirements to cut expenses and increase profits to remain competitive and. protect market share in the face of competition from...

New automobile sales in Europe were flat in October, after succumbing to 2 consecutive months, market data revealed on Thursday, while the shift to totally electric or hybrid models picked up speed in the month. An uptick in overall sales in Spain and Germany, of 7.2% and 6% respectively, balance out a contraction in France, Italy and Britain, the European Car Manufacturers Association ( ACEA) stated. WHY IT'S IMPORTANT European automakers are battling with weak demand, high production expenses, and managing the shift to EVs, while attempting to fend off competition from China. BY THE NUMBERS The variety of new...

Europe's main stock index closed flat after an unstable session on Wednesday as investors remained on edge over geopolitical tensions between Ukraine and Russia which continued to cast a shadow over the markets. The pan-European STOXX 600 held its ground at 500.53 points. It declined for a fourth straight session - logging its longest losing streak in over 2 months. It touched a three-month short on Tuesday in the middle of an investor rush to safe-haven assets. Ukraine fired a volley of British Storm Shadow cruise rockets into Russia on Wednesday, a day after it fired U.S. ATACMS rockets upon...

Employees are prepared to make concessions worth 1.5 billion euros ($ 1.58. billion) in continuous negotiations with Volkswagen. over cost cuts, warning of a farreaching dispute if the. carmaker demands plant closures. Thorsten Groeger, who leads negotiations for the IG Metall. union, said otherwise Volkswagen workers would go into a dispute. with the company the likes of which this republic has not seen. for years. Strikes at most of the carmaker's German websites,. which are at the heart of the dispute, are possible from Dec. 1. The comments come a day ahead of a 3rd round of crunch. talks between...

Volkswagen selected former Rivian executive Kjell Gruner as head of its American company on Tuesday, as the automaker deals with a. choppy electrical shift and continuous negotiations with the. United Car Workers union in the region. Gruner, previously EV startup Rivian's primary commercial. officer and head of service development, is successful Pablo Di Si, who. has remained in the function because 2022. Automakers in the U.S. and worldwide are. getting ready for regulative uncertainty under President-elect. Donald Trump, who has guaranteed to pull back rewards on EV. production and acquiring. The president-elect's transition group is preparing to eliminate. the $7,500...

Germany's biggest industrial union stated it had actually struck a wage deal in local talks for the electrical engineering and metal industries on Tuesday, signalling an end to hard settlements that saw tens of countless workers go on strike. After a marathon 18 hours of talks, the union said it would announce information of the offer at a news conference at 0930 GMT. The offer comes at a hard time for Europe's biggest economy, which is swallowed up by a government crisis and has actually seen a few of its most significant industrial icons request unpleasant cuts to remain competitive...

Audi on Thursday revealed a. brand-new electric automobile brand name in China whose vehicles will sport just. the name AUDI and not its signature fourring logo, a move intended. at attracting younger consumers on the planet's biggest vehicle. market. The premium marque owned by Germany's Volkswagen. partnered with Chinese automaker SAIC in 2015 to co-develop. cars and trucks under the brand, the first of which it prepares to place on the. market in the summer of next year. It marks an effort by both Audi and SAIC to recover market. share in China, where legacy regional gamers and foreign. automakers...

Heidelberg Products , the world's secondlargest listed cement maker, on Thursday raised its 2024 outlook, as a strong efficiency in The United States and Canada and performance steps across crucial markets helped balanced out volume headwinds. The German building products business now anticipates the result from present operations for the 2024 fiscal year to be in between 3.1 billion and 3.3 billion euros ($ 3.33-3.55 billion). and 3.3 billion euros, narrowing a formerly forecast series of. between 3.0 billion and 3.3 billion euros. Our constantly strong performance in North America. combined with a continued concentrate on expense management throughout secret....

French automaker Renault is in talks with Nissan to help the Japanese company bring to market its own variation of Renault's electric Twingo, as the alliance partners seek to accelerate an inexpensive EV providing to ward off Chinese competition. An electric version of Renault's popular city automobile, due to reach the market in 2026, is set to be priced at under 20,000 euros ($ 21,700), making it a key slab in the firm's. defence versus low-priced Chinese brand names like BYD. Renault had actually been in talks with Germany's Volkswagen to. jointly develop the car, sharing costs that are a...

Workers in Germany's. electrical engineering and metal markets will introduce strikes. on Tuesday to put pressure on companies to increase their pay,. according to a declaration from the IG Metall union. Tuesday marks completion of a truce duration accompanying. collective bargaining settlements, in which the union has stated. a proposed pay increase for the 3.9 million employees in crucial sectors. covered by the talks is too low. The 3.6% raise over a period of 27 months provided by. companies' associations is considerably lower than the 7% sought. by IG Metall - a demand criticised by business as impractical. amidst a...