German Business News Update – Nov 27th 2024

Welcome to the infobrokerworld News Update, where we bring you the
latest insights from the German market…..

Today is November 27th 2024.

My Name is Ray Cooks the AI voice of the infobrokerworld Audio
Line.….
and here are today's top stories.

Germany’s automotive industry is sounding the alarm about its
declining competitiveness. Executives at the Handelsblatt Auto
Summit are calling for faster decisions and cost reductions to
tackle global challenges.

Meanwhile, Huawei continues to make waves in China. Its new Mate 70
smartphone, featuring an in-house chip, underscores the tech
giant’s resilience despite U.S. sanctions, putting Apple under
considerable pressure in the Chinese market.

In luxury, brands like Dior and Gucci are pivoting to direct sales
in response to the first contraction in their industry in 15
years.

Over in steel, Thyssenkrupp’s plan to cut 11,000 jobs is drawing
criticism for its lack of a clear strategy.
Meanwhile, Germany’s financial watchdog, Bafin, has sharply
criticized cooperative banks for poor risk management
practices.

And finally, Varta is under fire. The battery maker’s restructuring
plan has sent its share price tumbling, leaving small investors
feeling sidelined.

That's today's business update. Thanks for tuning in to Business
Insights. See you next time!

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