LUFTHANSA – In the collective bargaining dispute with the airline, the pilots want to go on strike on Friday. The union Vereinigung Cockpit (VC) explained that the employer had not submitted an improved offer this week, so that the negotiations had failed. “Therefore, our only option is to use a labor dispute to reinforce our demands.” The VC insists on real wage protection in times of high inflation and improvements in the remuneration structure. The cockpit staff of the passenger airline Lufthansa and the cargo line Lufthansa Cargo have been called to strike from 00.01 a.m. to 11.59 p.m. on September 2nd. Lufthansa initially did not want to comment on the call for a strike. Lufthansa flights departing from Germany are to be on strike. The one-day strike is likely to lead to massive flight cancellations and thwart the travel plans of thousands of passengers
* CORONAVIRUS – The European Medicines Agency (EMA) is holding a special meeting to discuss applications for booster vaccinations against omicron variants of the coronavirus. It is expected to make a decision later this week on vaccines manufactured by Moderna, as well as by BioNTech and Pfizer, which are tailored to both the older BA.1 omicron variant and the original strain of the virus. Health Minister Karl Lauterbach had announced that in the two weeks after September 5, five million doses from BioNTech and 1.65 or 2.38 million doses from Moderna would be delivered to Germany.
* VOLKSWAGEN – The new CEO Oliver Blume takes office. The 54-year-old wants to explain his strategy and understanding of leadership at a management event in Lisbon. Investors all over the world will be listening closely with a view to the planned IPO of the VW subsidiary Porsche. Because Blume should remain head of the sports car manufacturer even after the planned IPO. At the same time, he is to drive the transformation of the Wolfsburg-based group into a leading provider of electric cars and mobility services, which his predecessor Herbert Diess initiated.
MORPHOSYS – The biotech company gets a new head of research. As of October 1, this position will be taken over by Tim Demuth, currently head of medicine at the biotech company Pieris, as Morphosys announced. He succeeds Malte Peters, who has been with the company since 2017 and is retiring. Before joining Pieris, the physician Demuth was head of global clinical development oncology at the Darmstadt-based Merck Group and for Novartis and the Italian company Italfarmaco.
WALT DISNEY – The US media giant is considering a membership program modeled on Amazon Prime, according to a newspaper report. The program could offer customers discounts or perks to encourage them to spend more on Disney’s streaming service, theme parks or merchandise, the Wall Street Journal (WSJ) reported, citing people familiar with the matter. The company’s internal consultations on the possible innovation are still at an early stage.
ZUR ROSE – The Swiss online pharmacy wants to raise fresh capital of around 150 million Swiss francs. The company said it would bring in a capital increase of around CHF 50 million and a convertible bond around CHF 100 million. The new shares are to be placed with institutional investors in an accelerated process and with the exclusion of shareholders’ subscription rights.
CRUDE OIL – The export cartel Opec+ lowers the forecast for the surplus of crude oil on the world market. The group expects just a small backlog of 0.4 million barrels per day in 2022, according to people familiar with the matter. The oil cartel’s panel of experts had previously assumed 0.9 million barrels per day in the best scenario. The reason given was the underproduction in the member countries.
CRUDE OIL – According to US information, the finance ministers of the seven leading industrialized countries (G7) are also to discuss a price cap for Russian oil at their meeting on Friday. Such a move is the most effective way to meet President Vladimir Putin’s earnings, says Presidential Office spokeswoman Karine Jean-Pierre. According to the plans, refineries and traders should only be allowed to pay a certain maximum amount for Russian crude oil. Germany is one of the G7 countries.
Brent Crude Oil – FOB (North Sea)