ROUNDUP: Next iPhones and computer watch expected from Apple
CUPERTINO – Apple is about to present its most important iPhone in years. The new models, which are expected to be presented to the public on Monday evening, are intended to catapult the company into the AI era. For users in the European Union, however, things will be a little different. Apple will not be introducing its advanced AI functions in the EU for the time being, citing legal uncertainties. At the same time, the upcoming version of the iOS operating system will allow iPhones to be used for the first time largely without Apple apps on the devices.
ROUNDUP/MONTE CARLO: Reinsurers must expect an end to the price increase
MONTE CARLO – Despite strong price increases in recent years, the major reinsurers expect continued high demand from primary insurers. At the annual industry meeting in Monte Carlo, representatives of the global market leaders Munich Re, Swiss Re and Hannover Re insisted on appropriate premiums for taking on high risks from companies such as Allianz, Axa and Generali, such as natural disasters, liability claims and cyber attacks. However, the recent strong price increases are likely to come to a temporary end.
Volkswagen core brand replaces CFO in crisis – Seat manager joins
WOLFSBURG – In the midst of the crisis, the car manufacturer Volkswagen is replacing the chief financial officer at its core brand VW Passenger Cars. The previous chief financial officer, Patrik Andreas Mayer, is to vacate the position in Wolfsburg for the chief financial officer of the VW subsidiary Seat, David Powels, as a company spokeswoman confirmed on Monday upon request. Manager Magazine had previously reported, citing insiders. Mayer is moving to Seat in Spain and will take over Powels’ duties there. Mayer has been chief financial officer of the heart of Europe’s largest car company since October 2022.
Boeing workers achieve 25 percent income increase
SEATTLE – The struggling aircraft manufacturer Boeing has promised its largest union a 25 percent pay increase just days before an impending strike. The approximately 33,000 employees build, among other things, the best-selling Boeing 737 model. The IAM union had originally demanded a 40 percent increase.
VW boss Blume: Situation alarming – critics see mismanagement
WOLFSBURG – CEO Oliver Blume has described the economic situation at Volkswagen as alarming. The situation at the VW brand is so serious that everything cannot simply continue as before, Blume told “Bild am Sonntag”. Fewer vehicles are being bought in Europe. At the same time, new competitors from Asia are entering the market with force. “The cake has become smaller and we have more guests at the table,” said the CEO.
‘Handelsblatt’: Carmaker crisis alarms EU
BERLIN/BRUSSELS – The difficult situation of the automobile industry is worrying the European Commission. The situation in the industry is “not rosy” and there is no point in sugarcoating it, said the outgoing Industry Commissioner Thierry Breton to the “Handelsblatt”. Nervousness is great, which is reflected in the current developments in the German automobile industry.
Fraport sells shares in Delhi Airport in India
FRANKFURT/DELHI – Airport operator Fraport is pulling out of the Indian Delhi airport. The company is selling its 10 percent share in the operating company to the majority owner GIL for 126 million US dollars (114 million euros), as it announced in Frankfurt on Monday. In addition to the sale of shares, it was agreed that Fraport will continue its supporting role in airport operations within the framework of the existing operating contract. Fraport has held the company shares since the airport was privatized in 2006. The deal now agreed is expected to be completed within the next 180 days, it was said. Fraport wants to use the money to reduce its debt.
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AXC0152 2024-09-09/15:20