European Press Roundup: IAG Asks Spain for Brexit Help, Blokker Family Wants to Sell Namesake Chain

In Europe today, Diageo agrees to sell a portfolio of 19 brands to Sazerac Co. for $550 million, while German chip maker Infineon says its fourth-quarter profit halved due to provisions. Read about the above topics on Dow Jones Newswires or WSJ.com.

In Other Media...

British Airways and Iberia-parent IAG asks Spain to help it retain operating rights in Europe in the event of a no-deal Brexit. If U.K. Prime Minister Theresa May doesn't agree a deal, IAG's status as a European carrier could be in danger. -The Times of London

The Dutch Blokker family wants to sell a majority stake in its loss-making namesake retail chain, which has 430 stores in the Netherlands and over 100 in Belgium. Management has reportedly decided that running the company--which has 10,000 employees and has been family-run for the past 120 years--should be approached differently, having already sold its Intertoys, Xenos and Leen Bakker businesses. -Financieele Dagblad

The CEO of ThyssenKrupp in the U.K., Terry Sargeant, says the Conservatives' Brexit plan was "a complete shambles," and that the governing party is failing business by prioritizing its own survival. Mr. Sargeant warns a no-deal Brexit will result in a wave of layoffs, and says the German industrial giant has already been affected by the temporary closing of production lines by car makers. -The Guardian

The U.K.'s Trade Union Congress and Confederation of British Industry have warned against companies microchipping their employees. Swedish company Biohax said it is in talks with U.K. legal and financial firms about potentially fitting their employees with microchips. The CBI said it made for uncomfortable reading, while the TUC said it was concerned about workers being coerced. -The Guardian

Jean Paul Gaultier is the latest fashion designer to give up the use of fur for their collections, joining a growing number of brands--including Burberry, Gucci, Hugo Boss--that have already taken the pledge amid changing consumer perceptions and pressure from animal-rights organizations. The designer also promised to stop using leather. -Le Figaro.

Germany's far-right party AfD apparently received illegal donations of over EUR130,000 from a Swiss company in 2017, the year of the parliamentary elections. The payments were made in several tranches of mostly CHF9,000 and intended for top candidate Alice Weidel. Some in the party itself now doubt the legality of the payments. -Sueddeutsche Zeitung

Italy's industrial production fell 0.2% in September compared with the previous month, the country's statistics agency Istat said. Calendar adjusted industrial production rose by 1.3% on the year. -Ansa

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(END) Dow Jones Newswires

November 12, 2018 08:57 ET (13:57 GMT)

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