AGP Executive Report
Last update: 11 minutes agoEnergy Security: Germany’s SEFE agreed to buy 30 TWh of gas a year from Trafigura for five years, lifting annual volumes from their previous deal and broadening supply sources. Retail Deal: The EU conditionally cleared JD.com’s €2.2bn takeover of Ceconomy, owner of MediaMarkt and Saturn. Ten-year safeguards require market-rate dealings and fair access to logistics and technology services for rivals. Auto Industry: Schaeffler plans 3,460 job cuts across Europe, including 2,660 in Germany, and five site closures as the sector struggles. BMW also reported lower third-quarter earnings and forecast a near-zero operating margin for its core car business this year, with restructuring costs ahead. Telecom Security: Germany is preparing a broad ban on Chinese-made mobile network equipment, a move that could shut Huawei and ZTE out of the market. Aviation: Lufthansa signed a €1.025bn deal for an initial 44.9% stake in TAP Air Portugal, pending regulatory approval.
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