Thousands of steel workers protest ThyssenKrupp merger in Germany

Iain Gilbert Sharecast | 22 Sep, 2017 17:34 - Updated: 17:34 | | |

ep thyssenkrupp
ThyssenkruppTHYSSENKRUPP

Tata Steel Ltd

1,080.00

17:36 20/10/17
-0.00%
-0.00
  • 23.34
  • -0.34%-0.08
  • Max: 23.70
  • Min: 23.30
  • Volume: 2,597,958
  • MM 200 : n/a
20:47 20/10/17
  • 12,991.28
  • 0.01%1.18
  • Max: 13,063.57
  • Min: 12,956.42
  • Volume: 0
  • MM 200 : n/a
20:48 20/10/17

Thousands of steel workers gathered in Western Germany on Friday to protest the proposed merger of ThyssenKrupp and Tata Steel's European operations which was expected to result in approximately 4,000 job losses.

Nearly 7,000 people converged upon the German city of Bochum, bringing steel production to a standstill, as German labour union leader Reiner Hoffman accused ThyssenKrupp and its management of failing to look after its employees best interests.

German Labour Minister Andrea Nahles, said "the future of steel in Germany" was at risk.

German firm ThyssenKrupp and Indian group Tata announced on Wendesday that they had signed a preliminary deal to creat a joint venture to be headquartered in the Netherlands, creating Europe's second-largest steel company as both struggle to push forward in the challenging industry.

More news

20 Oct FX round-up: Dollar boosted by tax plans, pound rallies on Brexit hopes

President Donald Trump's tax reforms made the dollar the early story, before a sterling narrative took over as Brexit developments filtered through from the EU 27 in Brussels.

20 Oct President Trump wrongly links rise of UK crime to 'radical Islamic terror'

US President Donald Trump was accused of fuelling hate crimes after he said the UK crime rate was linked to "radical Islamic terror".

20 Oct Europe close: Stocks end near session lows despite US tax reform optimism

European stocks finished near their worst levels of the day despite optimism regarding prospects for the US economy.

20 Oct London close: Footsie ends flat as pound bounces back

London stocks finished the Friday session almost exactly flat despite encouraging noises emerging from Brussels mingled with optimism stateside over proposed tax reforms.

20 Oct Berenberg ups Cobham target but says premium valuation "unwarranted"

Despite Cobham share's outperformance over the past six months, Berenberg cautioned clients about the near-term strength of various of the firm's end-markets, alongside operational challenges that would require time to resolve and, for a time, scupper hopes that the dividend would be reinstated.

20 Oct Octagonal 'extremely pleased' as it reports record revenue and profits

Octagonal updated the market on its trading on Friday, based on the unaudited interim figures for the six months to 30 September for its wholly-owned subsidiary, Global Investment Strategy UK, saying it was “extremely pleased” with the record revenues and profits achieved.

20 Oct Marlowe trading in line as acquisitions integrate 'well'

Support services group Marlowe updated the market on its trading for the six months to 30 September on Friday, saying trading in the first six months of the financial year was in line with board expectations.

20 Oct Ncondezi agrees non-binding development offer with CMEC and GE

Ncondezi Energy announced on Friday that it has agreed - in principle - to the terms of a non-binding offer with China Machinery Engineering Corporation and General Electric South Africa to enter into exclusive negotiations to develop, construct and operate the integrated Ncondezi 300MW coal-fired power project and open pit coal mine in Tete, Mozambique.

20 Oct Virgin Money's growth prospects not reflected in share price, Barclays says

Analysts at Barclays Research believe Virgin Money's growth prospects are not reflected in the share price.

20 Oct Bacanora clears regulatory hurdle at Sonora lithium project

Lithium exploration and development company Bacanora Minerals announced on Friday that the environmental impact statement - the ‘manifestacion de impacto ambiental’ (MIA) - for its flagship Sonora Project in Mexico has been approved by SEMARNAT, the Environment Ministry of Mexico.