The Battery company Varta, which is struggling to survive receives the red card from the index provider Stoxx. The share will be removed from all indices on July 30th, it announced late on Thursday evening. Varta is trying to save itself with drastic measures: the old shareholders are to be forced out of the group… Continue reading German Manager Magazine: Varta: Battery company removed from Stoxx indices003463
Author: Manager Magazin (German)
German Manager Magazine: ZF is cutting up to 14,000 jobs in Germany003462
At ZF Friedrichshafen there are tough cuts Germany before. The automotive supplier from Lake Constance announced on Friday that it wanted to create “slimmer structures” in this country. In concrete terms, this means that between 11,000 and 14,000 jobs will be lost at German ZF locations by 2028. The company currently employs around 54,000 people… Continue reading German Manager Magazine: ZF is cutting up to 14,000 jobs in Germany003462
German Manager Magazine: Audi cuts profit forecast003458
The Ingolstadt Volkswagen subsidiary Audi is reducing its profit forecast due to the high costs of restructuring its factory in Brussels. The company announced on Thursday that the return for the year as a whole will now be between 6 and 8 percent. Previously, Audi had predicted a range between 8 and 10 percent. The… Continue reading German Manager Magazine: Audi cuts profit forecast003458
German Manager Magazine: MG Motor: Chinese are increasingly trying combustion engines in Europe003458
Restore iTunes subscription manager+ is processed through your iTunes account and paid for upon confirmation of purchase. 24 hours before expiry, the subscription is automatically extended by one month at the current price of €24.99. You can cancel your subscription at any time in your iTunes account settings. To use manager+ outside of this app,… Continue reading German Manager Magazine: MG Motor: Chinese are increasingly trying combustion engines in Europe003458
German Manager Magazine: Ford: Shares fall in double digits, US car manufacturer continues to lose a lot of money with electric cars003459
Electric cars continue to tear billions of holes in the balance sheet ford. In the last quarter, the US car giant posted a loss of $1.14 billion in this division. Combustion models and commercial vehicles, on the other hand, provided positive figures. The bottom line is that group profits fell by 9 percent year-on-year to… Continue reading German Manager Magazine: Ford: Shares fall in double digits, US car manufacturer continues to lose a lot of money with electric cars003459
German Manager Magazine: News about Continental, MG, Porsche, Volkswagen and more in the newsletter “manage:mobility”003458
Dear reader, Before we talk about the upcoming Olympic Games in Paris in this newsletter, a short excursion into Formula 1. It is exciting this season, the dominance of Red Bull driver Max Verstappen (26) is crumbling, as are his nerves. “It’s pretty impressive how we completely botched my race,” complained the Dutchman to his… Continue reading German Manager Magazine: News about Continental, MG, Porsche, Volkswagen and more in the newsletter “manage:mobility”003458
German Manager Magazine: Model changes and weak sales depress Porsche profits003457
The model change in important series and the weak sales China press at the sports car manufacturer Porsche on the win. An operating result of 3.1 billion euros was achieved in the first half of the year, around a fifth less than a year ago. The second quarter was stronger than the start of the… Continue reading German Manager Magazine: Model changes and weak sales depress Porsche profits003457
German Manager Magazine: Salary ranking for DAX bosses: Up to ten million euros annual salary for CEOs003456
After a decline in 2022, board salaries in Germany’s largest listed companies rose again in 2023. The average compensation per board member in the 40 DAX companies rose by 5.8 percent, according to a study by the German Association for the Protection of Securities Ownership (DSW). On average, the top managers each received around 3.6… Continue reading German Manager Magazine: Salary ranking for DAX bosses: Up to ten million euros annual salary for CEOs003456
German Manager Magazine: Tesla share price slides due to slump in profits in Q2003453
The US electric car manufacturer Tesla reported $25.5 billion in sales from April to June. That is $0.6 billion more than in the same period last year, but less than in the first quarter of the current year. In terms of sales, Tesla narrowly exceeded analysts’ expectations. However, the robust sales came at the price… Continue reading German Manager Magazine: Tesla share price slides due to slump in profits in Q2003453
German Manager Magazine: Toyota: Car manufacturer announces billion-dollar share buyback003453
Toyota starts a billion-dollar share buyback and thereby breaks ties with other large Japanese companies. The world’s largest car manufacturer announced on Tuesday that it would remove up to 807 billion yen (4.75 billion euros) of its own shares from the market. As part of the program, Toyota is offering 2,781 yen per share. In… Continue reading German Manager Magazine: Toyota: Car manufacturer announces billion-dollar share buyback003453