Live from the floor of the Frankfurt Stock Exchange
GDL strike : employers’ association feared heavy losses
14.30 Clock: production losses, supply problems and delays employees: The Association of Hessian employers’ associations (VhU) feared because of the long strike of the train drivers’ union GDL high damages for Hessian companies ,
The decision of the GDL, paralyze rail traffic to Sunday, have “serious consequences for the economy,” said VhU CEO Volker Fasbender on Monday. The GDL was developing a “risk site” and do not worry about the proportionality of their labor dispute, he criticized. The Rhine-Main area was particularly affected by the strike, because there came together important strands of passengers and goods.
In the wage dispute with Deutsche Bahn train drivers wanted starting Monday afternoon stop working at 15.00 clock in the freight transport. The passenger trains of the company to be five days until Sunday morning strike across Germany on Tuesday at 2:00 clock.
German labor costs remain within the European framework
13:19 clock: The labor costs in the German private sector have risen somewhat more strongly last year than the EU average , The sum of gross earnings and labor costs for the working hour increased by 1.6 percent to 31.80 euros as the Federal Statistical Office in Wiesbaden reported on Monday. The EU average there were 2014 compared to the year before up 1.4 percent to 24.40 euros , in the space of the single currency Euro was the Increase only 1.2 percent .
The German labor costs were once again around 30 percent above the EU average, more expensive was working only in seven other states with Denmark (42,00 euros), Belgium and Sweden at the top. In neighboring France (36.40) the hour cost labor over this country. The cheapest was working in Bulgaria (3.80) and Romania (4.20) .
Very high wages are paid in the German industry. Considered alone, this cut is Germany with hourly costs of 37,00 Euro Europe in fourth behind Belgium (43,20 Euro) , Denmark and Sweden. Nevertheless, German industry is internationally competitive because of their very high productivity.
The German company will also benefit from the relatively low level of non-wage labor costs. Here are contributions to social security funds, company pensions and leave benefits in case of sickness include. At a euro gross wage these costs are in Germany again 30 cents. It was ranked 15th out of 28 EU member states and the EU average was just below the 31 Cent . The highest non-wage labor costs incurred in France 47 cents per Euro gross salary .
VW shareholder: football sponsorship reduces dividend
11:44 clock: The world’s top carmaker Volkswagen has to deal at its annual general meeting on Tuesday in Hannover with the theme promoting professional football. A small shareholder criticized “unnecessary spending by the exaggerated sponsorship at VfL Wolfsburg and FC Ingolstadt” and therefore calls for a higher dividend by 10 cents. “But the player André Schürrle and Kevin De Bruyne cost more than 50 million euros”, criticized the shareholders. Volkswagen has already responded in writing to the call: “We consider the shareholder proposal to be unfounded,” the group writes.
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Audi aims for 2015 sales record at
11:34 clock: The VW subsidiary Audi is aiming despite economic uncertainties and growing competitive pressure further this year to a record sales. 2015, significantly more cars of the Audi brand delivered the previous year, the company confirmed today in Ingolstadt. 2014 Audi had sold 1.74 million vehicles. As a result, the company's sales of nearly 54 billion euros last depending on the economic environment is likely to increase slightly. The figures for the first quarter are already widely known. The bottom line is the VW subsidiary earned 1.097 billion euros, compared to 1.028 billion euros in the same period last year. Revenue rose 13 percent to nearly 14.7 billion euros.
sentiment among China's industrial managers worse than expected
10.35 Clock: An important leading indicator points to new difficulties for China's economic growth. The mood in Chinese companies has deteriorated in April, as is clear from the established by the British banking giant HSBC on Monday index. The HSBC purchasing managers' index for the manufacturing sector fell According to the final figures at 48.9 (March 49.6) points, and thus to its lowest level in a year. The indicator thus went further back than the middle of April it was announced based on preliminary figures. Analysts, however, had expected that the provisional value of 49.2 points is slightly revised upwards.
The index thus remained the second consecutive month below the important mark of 50 points. A value below this critical limit means a shrinking industry - is the value of it, she expands
VW supervisory board prepares annual general meeting in Hanover
09:58 clock:. The supervisory board at Volkswagen starts at 17.00 clock with the first meeting without his longtime chief inspector Ferdinand Piëch in a new era. The 20 members of the committee meet in Hannover in a five-star hotel near the Opera. Absence are doing the former group Patriarch Piëch (78) and his wife and former Supervisory Board member Ursula (58). Both were resigned in late April at the height of the day-long leadership crisis at Europe's largest carmaker. As a replacement, the group convened nieces Louise Piëch Kiessling (57) and Julia Kuhn-Piëch (34).
The panel will prepare in Hannover today the much-anticipated annual general meeting the following day. Kommissarisch conducts Board Vice Berthold Huber from IG Metall, the transactions that Ferdinand Piëch had previously done for 13 years. Who should be once the new VW CEO inspector, has not yet been regulated.
US agency warns of total power failure in the Dreamliner
15:42 clock: The US aviation authority (FAA) has in front of a potentially dangerous software problem in Boeings 787 Dreamliner warned. Accordingly, under certain circumstances suddenly the entire current system of the machine turn out - and therefore possibly the control of the aircraft will be lost.
After a FAA airworthiness directive issued on Friday, the problem may occur when a Jet uninterrupted 248 days is continuously connected to power. Then software counter could overflow in the control units of the main generator and set it into a protection mode. When all four units are turned on at once, so there was a risk of a total power outage. The problem had Boeing found in our own laboratory tests
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