FRANKFURT, Feb 16 (Reuters) – Activist investors are renewing their years-long efforts to break up some of Germany’s most venerable companies, seeing streamlining as a promising route to reviving share prices as Europe’s top economy emerges from the energy crisis.
This week Brenntag (BNRGn.DE), founded in 1874 as an egg trader in Berlin, became the latest target of investors, who called for the chemicals distributor to spin off its specialties unit. Bayer BAYGn.DE, Fresenius FREG.DE and Thyssenkrupp TKAG.DE have seen similar demands to release value.
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Air India Has Options To Buy 370 More Jets After Mammoth Order
BENGALURU, Feb 16 (Reuters) – Air India has options and purchase rights to buy 370 more aircraft from Airbus and Boeing over the next decade, an company executive said in a recent LinkedIn post, days after the carrier unveiled a record order for 470 jets.
“The order comprises of 470 firm aircraft, 370 options and purchase rights to be procured from Airbus and Boeing over the next decade,” said Nipun Aggarwal, chief commercial and transformation officer at Air India, wrote in a post late Wednesday.
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Oil Rises On China Optimism, Market Shrugs Off U.S. Inventory Build
Feb 16 (Reuters) – Oil prices rose on Thursday as hopes of a robust fuel demand recovery in top oil consumer China offset losses arising from strength in the greenback and a large build in U.S. crude inventory.
Brent crude futures rose 59 cents, or 0.7%, to $85.97 per barrel by 0725 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 73 cents, or 0.9% to $79.32 a barrel.
The International Energy Agency (IEA) said oil demand would rise by 2 million barrels per day (bpd) in 2023, up 100,000 bpd from last month’s forecast to a record 101.9 million bpd, with China making up 900,000 bpd of the increase.
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Airbus Targets 720 Deliveries In 2023
PARIS, Feb 16 (Reuters) – Airbus (AIR.PA) slowed the production ramp-up of its best-selling A320neo-family jet and targeted 2023 jet deliveries in line with its original estimate for last year as the world’s largest planemaker bowed to industrial pressure on supplies.
The France-based group also targeted an adjusted operating profit of 6.0 billion euros ($6.4 billion) in 2023 after posting a stronger than expected 5.627 billion for last year, up 16% from 2021 and helped by positive pension effects.
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Truckers And Subsidies Rev Up Interest In Fuel Cell Vehicles
LONDON/BERLIN, Feb 16 (Reuters) – Interest in using hydrogen fuel cells to power trucks and vans is getting a boost from fleet operators looking for a more practical alternative to electric vehicles and rising government aid, particularly the U.S. Inflation Reduction Act (IRA).
While most of the world’s combustion engine cars and short-distance vans and lorries should be replaced by battery electric vehicles (BEVs) over the next two decades, fuel-cell proponents and some long-haul fleet operators say batteries are too heavy, take too long to charge and could overload power grids.
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