European Press Roundup: German Jobs at Risk in No-Deal Brexit Scenario
11 February 2019 - 10:09PM
Dow Jones News
In Europe today, most stocks trade higher as investors watch for
developments on a fresh round of U.S.-China trade talks this week,
while U.K. retailers continue to see their footfall drop as growing
online sales puts pressure on their business. Read about the above
topics on Dow Jones Newswires or WSJ.com.
In Other Media...
More than 100,000 jobs in Germany are threatened by a disorderly
Brexit and the subsequent slump in exports, according to a study by
the Leibniz Institute for Economic Research Halle and the Martin
Luther University Halle-Wittenberg. "In no other country is the
effect on total employment as great as in Germany," said Oliver
Holtemoeller, one of the authors of the study. A decrease in
exports in the wake of a no-deal Brexit would primarily hit the
country's auto industry, according to the study. -Welt am
Sonntag
Miele co-CEO Markus Miele has rebuffed concerns that the
family-owned German appliance maker is preparing to shift jobs out
of Germany in its discussions with the metalworkers' union IG
Metall on the future of these sites. Still, up to 180 jobs could be
eliminated by 2021 as Miele ramps up production at factories in
Poland and the Czech Republic, he said. -Handelsblatt
German economics minister Peter Altmaier would be in favor of
building a European digital company that could compete with
companies from China and the U.S. "I can imagine that we could
establish a kind of Airbus for artificial intelligence," Mr.
Altmaier said. Such a company could play a decisive role in
autonomous driving, for example, and with that have a positive
effect on many sectors, he said. -Berliner Morgenpost
The U.K. is expected to sign an agreement with Switzerland on
Monday to guarantee a trade relationship between the two countries
after Brexit. This is the U.K.'s largest trade deal since the
Brexit vote. Trade between the two countries is worth more than
GBP32 billion a year. -Sky News
Frozen-food chain Iceland Foods is considering a bid for the J
Sainsbury and Asda stores that their owners need to sell as part of
a regulatory review of their proposed merger. Iceland Foods is
trying to expand its food-warehouse business, its managing director
Richard Walker said in an interview. -FT
Israel attacked Total after Patrick Pouyanne, CEO of the French
energy giant, said it is too complex to invest in the country.
While on a visit to London to promote Israel's next gas-licensing
round, Israel's Minister of Energy Yuval Steinitz said that
companies like Total that refuse to invest in his country are
living in the past and are under the "tyranny and dictatorship" of
Iran. -FT
HSBC Chairman Mark Tucker is expected to replace John McFarlane,
the outgoing chairman of Barclays, as chair of U.K. lobbying group
TheCityUK, in the coming days. -Sky News
DIA's beauty-store chain Clarel has lost EUR51 million in value,
posing another headwind to the ailing supermarket's restructuring
plan. DIA plans to sell Clarel as part of its restructuring and the
divestment is now expected to fetch between EUR100 million and
EUR150 million. -Expansion
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(END) Dow Jones Newswires
February 11, 2019 05:54 ET (10:54 GMT)
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