Thyssenkrupp steel unit aims for return to profit in fiscal year 2021/22 - WAZ
FRANKFURT (Reuters) - Thyssenkrupp's steel division aims to return to profit in the 2021/22 fiscal year, encouraged by a recent slight recovery after a massive slump due to the coronavirus pandemic, the head of the division told a newspaper. Unit head Bernhard Osburg told WAZ daily that the business had its work cut out to turn a profit in the fiscal year beginning on Oct. 1 next year
FRANKFURT (Reuters) - Thyssenkrupp's
Unit head Bernhard Osburg told WAZ daily that the business had its work cut out to turn a profit in the fiscal year beginning on Oct. 1 next year.
"We are reorganising our plant network and cutting costs also via job cuts. At the same time we need some tail wind from the business cycle. A lot depends on the auto industry," said Osburg.
(Reporting by Ludwig Burger; Editing by Susan Fenton)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.