EU Agrees to 15% Tariffs in Trade Deal With Trump
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xSuite Group Receives Great Place to Work Certification
Amazing_Culture!_US Press Release xSuite Recognition confirms the software company's commitment to creating an exceptional workplace culture Ahrensburg/Germany, July 29, 2025 – xSuite Group, a global software provider specializing in automated business processes, has officially been recognized as a 'Great Place to Work®.' The certification is awarded by the international research and consulting institute of the same name and is based on a validated process that assesses a company's workplace culture. To earn the certification, xSuite underwent a thorough review process that included anonymous feedback from employees and an evaluation of its HR practices and programs. The company, which provides innovative SaaS and software solutions—especially in the area of invoice processing within SAP—places strong emphasis on both customer-centric development and the personal and professional growth of its global team. 'We're incredibly proud of this recognition—especially because it reflects the positive feedback of our employees both in Germany and abroad,' said Haiko van Lengen, CEO of xSuite Group. 'It's a testament to the strong team spirit that defines our company culture every single day.' The survey results speak for themselves: 83% of employees rate xSuite as a 'great place to work' 96% feel they have the resources and tools needed to succeed 92% of new hires report feeling welcomed 94% agree that their managers trust them to do a good job without micromanagement 'Expertise and experience form the foundation of our success,' van Lengen continued. 'We strive to grow continuously as a team and to adopt the latest technologies so we can deliver innovative solutions to our customers. We're particularly proud of our work in artificial intelligence and our ongoing efforts to remain at the forefront of SAP-related innovation.' Evelyn Funke, Global Vice President of Human Resources, added: 'At xSuite, every single employee plays a vital role in our success—whether through writing code or delivering customer solutions. We take responsibility for our clients' business processes and the quality of our products. While the company is on a strong growth trajectory, we remain committed to maintaining a family-like atmosphere that encourages creativity and open collaboration. Our informal culture fosters a sense of belonging, allowing everyone to be themselves while contributing meaningfully to the larger mission.' About Great Place to Work® Great Place to Work® is a global authority on workplace culture, helping organizations develop strong employer brands and gain a competitive edge. Certification is based on a representative and anonymous employee survey and a cultural audit of the organization. The institute surveys over 20 million employees each year across 18,000 companies in 170 countries. The German branch, founded in 2002 and headquartered in Cologne, employs around 100 staff members. It was launched at the initiative of the European Commission as part of the Lisbon Strategy to provide a credible tool for promoting and recognizing effective workplace cultures. About xSuite Group xSuite is a software manufacturer of applications for document-based processes and provides standardized, digital solutions worldwide that enable simple, secure, and fast work. We focus mainly on the automation of important work processes in conjunction with end-to-end document management. Our core competence lies in accounts payable (AP) automation in SAP (including e-invoicing), for leading companies worldwide, as well as for public clients. This is supplemented by applications for purchasing and order processes as well as archiving – all delivered from a single source, including both software components and services. xSuite solutions operate in the cloud or in hybrid scenarios. We take pride in the high-quality solutions we offer, as evidenced by the regular certifications we receive for our SAP solutions and deployment environments." With over 300,000 users benefitting from our solutions, xSuite processes more than 80 million documents per year in over 60 countries. Founded in 1994 and headquartered in Ahrensburg, Germany, xSuite has around 300 staff across nine locations worldwide – in Europe, Asia, and the United States. Our company has an established information security management system that is certified in accordance with ISO 27001:2022. Press Contact Headquarters:Barbara WirtzxSuite Group GmbHMarketing & PRTel. +49 (0)4102/88 38 Attachment Amazing_Culture!_USError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Trump's trade deal with the EU: What it means for your wallet
Imported cars, pharmaceuticals, apparel and more could grow more expensive in the months to come as the United States imposes a 15% tariff on most imports from the European Union. Analysts have labeled the agreement, announced July 27, as a win for President Donald Trump, whose administration had been working to complete deals by a self-imposed Aug. 1 deadline. U.S. stocks opened mostly higher on July 28, with the S&P 500 and Nasdaq reaching record highs after Trump announced a tariff far below the 30% rate threatened earlier in the month. But for U.S. consumers, even the reduced tariff is expected to spur higher prices. The Yale Budget Lab estimates that Trump's tariffs, including the new rate for EU imports, would raise prices by 1.8% in the short run, the equivalent of an average household income loss of roughly $2,400. While the increase may sound insignificant, 'the Federal Reserve's inflation target is 2%. So we're talking about almost a year's worth of inflation above and beyond the inflation that we would've gotten anyways,' said Ernie Tedeschi, director of economics at the Yale Budget Lab. 'So that's meaningful.' Here are some of the sectors that could see higher prices in the months to come. European cars Automobiles, one of the EU's largest export sectors, will likely see some of the most noticeable price hikes, according to Gary Hufbauer, a nonresident senior fellow at the Peterson Institute for International Economics. While the 15% tariff is a relief from the current 27.5% rate, Hufbauer said the auto industry's margins are thin enough that EU companies won't want to absorb the higher cost. 'I suspect European auto prices sold in the U.S. will go up probably at least 10%,' he told USA TODAY. German Association of the Automotive Industry President Hildegard Müller warned the 15% tariff could cost the German automotive industry 'billions annually.' Already, Volkswagen has trimmed its full-year sales forecast after reporting a $1.5 billion hit from tariffs over the first half of the year. Automobile price hikes will likely vary across European makes and models, according to Tedeschi, since many already operate factories in North America. That means trade deals with Canada and Mexico could also influence pricing. 'Consumers should keep an eye out for rising prices for European car imports, but they should not assume that all European brands are going to go up in price because of how complicated the supply chain is,' he said, adding that he expects to see price increases tied to the new EU tariffs play out this summer and fall. What were the EU tariffs before? What to know after trade deal Furniture Furniture is another sector that could get hit by tariffs, according to Stephen Brown, Capital Economics' deputy chief North America economist. The Swedish company IKEA, for instance, relies on China, Poland, Italy, Germany and Sweden to supply 'the majority' of products, according to its website. The company did not immediately respond to a request for comment, but Inter IKEA ‒ which produces IKEA furniture ‒ told Reuters in November that just 10% of the products it sells in the U.S. are made in the region. 'Unless they find somewhere else to import from or move around their supply chain, furniture prices ... could see some effects,' Brown said. Pharmaceuticals While certain sectors like wine and spirits appear to still be under negotiation, EU Commission President Ursula von der Leyen said pharmaceuticals will be covered by the 15% tariff, with certain generic drugs not subject to tariffs. The EU is behind about 60% of pharmaceutical imports to the U.S., according to Reuters, making them the largest European export to the U.S. by value. But Brown noted that pharmaceutical companies may be able to more easily shift production to the U.S. compared to other industries. For instance, the Danish manufacturer behind the GLP-1s Wegovy and Ozempic, Novo Nordisk, already has a presence in North Carolina and has plans to expand. 'Although there could be some short-term price increases, those might not be as durable as they are for other products,' Brown said. Additionally, consumers may not pick up on the industry's price hikes if their insurance covers the imported drug. Luxury items Luxury items like imported designer handbags and apparel could also see higher prices, as well as imported food. 'The difference between China and Europe, in terms of tariffs, is that the tariffs on China increase what people buy in Walmart and Target. The tariffs on European imports will mainly hit what people buy at Whole Foods and high-end retail stores,' said Hufbauer of the Peterson Institute for International Economics. He noted that the companies behind luxury goods tend to have higher margins, though, and may be more willing to absorb some of the higher costs tied to tariffs. Machinery Machinery and appliances are also major exports from the EU, accounting for roughly 20% of U.S. imports from the EU in 2021, according to the Commerce Department. While consumers won't buy machinery directly, experts warn the higher prices could eventually trickle down as manufacturers adjust to higher costs. 'These are not necessarily products that immediately or directly impact the consumers, but they can indirectly affect consumers, especially after many years,' Tedeschi said. This article originally appeared on USA TODAY: What Trump's EU trade deal means for your wallet Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Levine Leichtman Capital Partners acquires Shipley Do-Nuts
US-based doughnut and kolache brand Shipley Do-Nuts has been acquired by private equity firm Levine Leichtman Capital Partners (LLCP) from Peak Rock Capital. The financial details of the deal have not been disclosed; however, the deal could value the brand at $400m, reported Bloomberg, citing sources. Shipley Do-nuts' executive team, headed by CEO Flynn Dekker, will continue to operate the company its Houston headquarters. LLCP managing partner Matthew Frankel said: 'We are excited to partner with Flynn and the outstanding Shipley management team, who have been executing on a successful growth strategy. 'Together, we see a tremendous opportunity to build on this foundation by expanding unit count even further to capture the substantial whitespace and driving strong same-store sales growth.' In January 2021, Peak Rock Capital acquired the majority stake in Shipley from the original owning family. Shipley operates more than 375 locations across 14 US states, has been in business for nearly 90 years, providing more than 60 types of donuts, kolaches. and coffee. The acquisition of Shipley represents the fourth platform investment of LLCP's Fund VII. LLCP's portfolio includes investments in brands including Tropical Smoothie Cafe, Nothing Bundt Cakes, and Hand & Stone. Shipley now becomes the 18th franchising investment for LLCP, bringing the total to 32 brands across various industries. Dekker said: 'Shipley is growing faster than ever in its history, and partnering with LLCP presents an outstanding opportunity for Shipley to accelerate our growth and bring the world's greatest donut to an even wider audience. 'Their extensive expertise in franchise food brands will be pivotal in driving future growth and supporting our franchisees, while preserving our commitment to fresh-made quality and our original recipes that have made our brand the icon it is today.' Legal advice for LLCP was provided by Kirkland & Ellis and DLA Piper, while Shipley received guidance from North Point and J.P. Morgan. In March 2025, Shipley signed a 30-unit development agreement to extend its national footprint. "Levine Leichtman Capital Partners acquires Shipley Do-Nuts" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
