Latest news with #Nuremberg
Yahoo
27-05-2025
- Business
- Yahoo
German consumer confidence creeps up, but shoppers are still wary
Germany's consumer confidence rose for a third consecutive month in May, but the improvement remains moderate as lingering economic uncertainties continue to weigh on households, according to the latest GfK Consumer Climate report powered by Nuremberg Institute for Market Decisions. The forward-looking Consumer Climate index is projected to reach -19.9 in June 2025, up from a revised -20.8 in May. The indicator has now reached its highest level since November 2024, when it stood at -18.4. Nonetheless, sentiment remains deeply negative, reflecting ongoing caution among German consumers. The report shows that rising income and economic expectations are not yet translating into stronger household spending. A modest increase in the willingness to save and a dip in purchase readiness are keeping the overall recovery fragile. 'The level of consumer sentiment remains extremely low, and consumer uncertainty remains high,' said Rolf Bürkl, consumer expert at the NIM. 'The unpredictable customs and trade policy of the US government, turbulence on the stock markets and fears of a third consecutive year of stagnation are reasons why the consumer climate remains weak. In view of the general economic situation, people seem to think it advisable to save.' Indeed, the savings indicator rose by 1.6 points in May to 10.0, reversing part of April's sharp decline. The renewed caution is dampening the positive effect of rising income expectations and economic optimism. Consumers' income expectations rose for the third month running, climbing 6.1 points to 10.4 — the highest level since October 2024. Though slightly below the May 2024 reading, the latest figure underscores increasing optimism about household finances. The improved sentiment is underpinned by robust wage settlements and a mild easing in inflation. The recent pay deal in the public sector, which includes a 3% increase this year and an additional 2.8% in 2026, is helping to support purchasing power. According to the Federal Statistical Office, inflation slowed to 2.1% in April, down from 2.2% in the two previous months. Related Merz's stumble jeopardises hopes of rebooting sluggish German economy German stocks drop as Merz stumbles in historic Bundestag defeat Despite stronger income prospects, German households appear reluctant to increase spending. The willingness to buy index fell by 1.5 points in May to -6.4, reversing part of the gains seen earlier this year. Compared to May 2024, however, the indicator is still up by nearly 6 points. According to the survey, concerns over job security and geopolitical instability continue to cloud consumer sentiment. Rising unemployment and fears of job losses are holding back discretionary purchases, even as real incomes improve. Economic expectations rose for the fourth consecutive month, with the index climbing 5.9 points to 13.1 — its highest level since April 2023. The sustained rise suggests that consumers are cautiously hopeful about a broader economic recovery, despite the backdrop of stagnation. The German Council of Economic Experts, in its latest spring report, forecast no GDP growth for 2025 but expects the economy to expand by 1% in 2026, assuming stabilisation in domestic and global conditions. Futures on the DAX indicate the German stock market is set to open flat on Tuesday, after gaining 1.7% on Monday. The bounce was fuelled by Donald Trump's decision to delay steep tariffs on EU goods, easing trade tensions. The US president postponed a planned 50% tariff hike, initially expected to take effect on 1 June, pushing the deadline to 9 July, following a phone call on Sunday with European Commission President Ursula von der Leyen. The reprieve is especially significant for Germany, whose export-driven economy depends heavily on the US market for key sectors like pharmaceuticals, industrial machinery, and automotive components. The euro traded at $1.1385, also unchanged for the day. On Monday, the single currency hit $1.1418, the highest level in a month. Sign in to access your portfolio
Wall Street Journal
27-05-2025
- Business
- Wall Street Journal
German Consumer Confidence Edges Higher Despite Tariff Uncertainty
Consumer sentiment in Germany improved a little as wage expectations grew and views of the economic outlook calmed, despite the uncertainty provoked by President Trump's tariff policies, a monthly survey said Tuesday. The consumer-climate index published by research groups GfK and the Nuremberg Institute for Market Decisions ticked up for a third straight month to minus 19.9 in June's forecast, 0.9 points higher than in May. Economists polled by The Wall Street Journal expected the measure a little stronger, at minus 19.6.
Yahoo
25-05-2025
- Business
- Yahoo
Germany's Schwan-Stabilo Group Taps Michele Molon for Group CEO Role
CHANGE IN COMMAND: Michele Molon will become group chief executive officer of Germany's Schwan-Stabilo Group, the 800 million euro company specializing in cosmetics, writing instruments and outdoor products. Molon, formerly Swarovski's chief commercial officer leading the retail, e-commerce, wholesale and B2B units globally, will share responsibility for Schwan-Stabilo management with chief financial officer Anke Buttler. Molon is scheduled to start his new job on Oct. 1, 2025. More from WWD RH Poaches Lisa Chi From Furniture Peer Arhaus, Aims to 'Elevate' Products and Platform Timberland Names Former Dr. Martens Exec Darren McKoy Global VP of Product Design and Creative Direction EXCLUSIVE: MAC Cosmetics Names Nicola Formichetti Global Creative Director Molon succeeds Sebastian Schwanhäußer, the long-standing CEO and managing partner of Schwan-Stabilo, who will become chairman of the advisory board on July 1. During the transition period, Buttler will lead the group. As reported, Kolja Kiofsky, general manager of North America for Swarovski, will succeed Molon as Swarovski's chief commercial officer, starting January 2026. Schwan-Stabilo Group is a family-owned company headquartered in Heroldsberg near Nuremberg, Germany. The holding company operates Schwan Cosmetics, Stabilo writing instruments, and an outdoor division including the Deuter, Orotovox, Maier Sports and Gonso brands. Gustav Adam Schwanhäusser founded the company in 1865 by recognizing the opportunities in the burgeoning Industrial Revolution, obtaining a loan of 32,000 guilder from his father, and purchasing a pencil factory in Nuremberg. Molon played a central role in repositioning the Swarovski brand and transforming it into an omnichannel business. He also served on the boards of several key subsidiaries and joint ventures within the Swarovski Group. Prior to Swarovski, Molon held senior positions at Richemont Group's Montblanc brand, where he served as managing director Italy retail and later as global head of retail operations, overseeing more than 600 boutiques around the world. 'Leading three vastly different business units under the roof of a single company is a complex yet incredibly exciting task,' Molon said in a statement. 'It's a rare opportunity — and one I take on with humility and determination. I want to thank the shareholders for their trust. The strength of any company lies in its people, and Schwan-Stabilo is built on a culture of care, courage and creativity. I believe in empowering talent, listening deeply, and leading with clarity and conviction. The world around us is not waiting — and neither should we. Constant evolution is the only way forward. My priority will be to strengthen our innovation capabilities and translate great ideas into tangible, profitable results — quickly and decisively. Together, we'll keep moving, keep building, and keep earning our place in the future.' Best of WWD Macy's Is Closing 66 Stores in 2025 — Here's the List, Live Updates Inside the Demise of Lord & Taylor COVID-19 Spikes Elevate Retail Concerns 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
Reuters
07-05-2025
- Business
- Reuters
Siemens Healthineers posts revenue beat, but lowers floor of profit outlook
Siemens Healthineers logo is seen on an item of clothing in manufacturing plant in Forchheim near Nuremberg, Germany, October 7, 2016. REUTERS/Michaela Rehle/File Photo Purchase Licensing Rights , opens new tab May 7 (Reuters) - German medical technology group Siemens Healthineers ( , opens new tab posted second quarter revenue slightly above market expectations on Wednesday, but brought down the lower end of its annual earnings forecast due to trade barriers and increased tariffs. "While the fundamental growth drivers remain intact, we expect that the significantly increased volatility of the geopolitical environment will weigh on our business this year," CEO Bernd Montag said in a company-issued statement. Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here. Advertisement · Scroll to continue Siemens Healthineers confirmed its full year revenue outlook for comparable growth of 5% to 6%, but expanded the forecast range for adjusted basic earnings per share to between 2.20 euros and 2.50 euros, from 2.35 euros to 2.50 euros previously. Its revenue was 5.91 billion euros ($6.70 billion) in the second quarter, compared to the 5.80 billion euros expected by analysts in a consensus compiled by Vara Research. Advertisement · Scroll to continue China, a key source of raw materials for the pharmaceutical and medical device sectors, has imposed 125% tariffs in on U.S. products in retaliation to U.S. President Donald Trump's tariff plans on imported goods. In April, the U.S. administration launched an investigation into the pharmaceutical industry , with possible tariffs aimed at boosting domestic production of goods. ($1 = 0.8815 euros) Reporting by Marleen Kaesebier in Gdansk, editing by Milla Nissi-Prussak Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
