Thursday will start terribly for Eurowings as it has no choice but canceling 380 flights out of 500 of the day due to a 24-hour strike. Approximately 50,000 passengers are expected to be affected. For more on this unfortunate event and how the company intends to ease the situation, stick with Sentifi.
Eurowings: Flight attendants go on strike due to contract dispute
Trade Union UFO and Eurowings failed to reach an agreement earlier this week regarding the long-running contract dispute, which prompted UFO to advise it members to walk off their jobs. The dispute has been going for two years, centering on wages and working conditions. Flight attendants from both Eurowings and Germanwings will strike for 24 hours in Duesseldorf, Cologne, Dortmund, Hannover, Stuttgart, Berlin and Hamburg.
Heathrow Airport: Expansion plan meets with heavy resistance from Shadow Chancellor John McDonnell
McDonnell has vowed to keep fighting against the “devastating” expansion plan of the airport. The Hayes and Harlington MP has also publicly campaigned against the plan. The expansion poses a huge threat to the densely populated West London where 10,000 people could be removed from their homes, on top of the concerns about air pollution and noise levels.
Groupon: Acquires daily-deals provider LivingSocial
Groupon expects to gain about 1 million active customers to its current 29.1 million users. Amazon invested at least $200 million in LivingSocial when the daily-deals sector used to be hot and booming with business. Groupon itself is struggling after breakneck expansion and widening losses caused its market value to plummet in 2012. Once valued at $16 billion, the company now has a $3 billion market value. The company’s new strategy is now adding more repeat customers in North America while scaling down its business abroad. The company’s shares fell 9.5 percent following the news.
Aixtron: U.S. intelligence services warn Germany of Chinese takeover
The services said the merger could give Beijing access to German technology that could be used for military purposes. U.S. authorities allegedly showed representatives of German ministries of said risk. The news came amid the tension regarding losing technology to China after a series of Chinese takeover of German companies.
Ardent Leisure Group: Accident at Dreamworld theme park is expected to hit the company’s earnings
The accident at the park that took the lives of four people in Australia on Tuesday will negatively impact the company’s earnings this year due to a high level of fixed costs required to operate the business. The company’s shares have yet to take damage from the tragedy.
Reliance Jio Infocomm: Apple relies on the company to boost iPhone sales in India
With a free year of 4G service from Reliance Jio, Apple hopes that would be enticing for people in the country to buy the iPhone 7 and iPhone 7 Plus. However, analysts beg to differ. It’s true of the sales of iPhone in India has grown by more than 50 percent during the most recent year, but that is thanks to the four-year-old iPhone 5s models. It’s the price issue, not the connectivity issue.
ITC: Reported decent quarterly earnings despite heavy taxes
An impending goods and services tax from the Indian government may dampen the outlook of the company, but that doesn’t stop it from reporting an increase of 9.6 percent in net sales. EBITDA and net profit also increased 7 percent and 10.5 percent, respectively. The company is expected to focus on the economy segment of the cigarette business to maintain its volume and revenue momentum.
Cover Image: AFP/Daniel Roland
If you want to harness the wisdom and insights from the crowd to monitor your portfolio free of charge, sign up at Sentifi.
