European Press Roundup: Tech's Persistent Gender Imbalance, Ceinex's Expansion Plans and German Discounters' New Russian Rival
December 04 2018 - 07:45AM
Dow Jones News
In Europe on Tuesday, France suspends its contentious fuel-tax
increase following protests, and the European Court of Justice says
the U.K. can unilaterally reverse Brexit. The top business story:
European officials criticize German carmakers' trip to Washington.
Read about the above topics on Dow Jones Newswires or WSJ.com.
In Other Media...
Investors in European tech startups placed 93% of their money in
companies with no female founders this year, according to an annual
study by venture capitalist group Atomico. The survey found no
improvement in this gender imbalance over the past three years
despite the increasing prominence of gender diversity as an issue
for the tech industry. -Financial Times
Ceinex, the joint Sino-German trading platform launched in 2015,
wants to grow substantially over the next few years. The
Frankfurt-based exchange -- owned mostly by the Shanghai Stock
Exchange and Deutsche Boerse -- wants to attract more investors by
boosting its product offerings and engaging more strongly in
derivatives. -Handelsblatt
Tesco, the U.K.'s largest grocer, has said a merger of rivals J
Sainsbury and Asda--owned by Walmart--shouldn't go ahead unless
extensive remedies are provided. While Tesco questioned the
rationale of the deal, Sainsbury's and Asda argue that entrants
Aldi and Lidl have fundamentally changed the grocery sector. -The
Times of London
French luxury-goods company Chanel announces it will no longer
use exotic animal skins in its products, paving the way for the
rest of luxury sector to follow suit. -Le Figaro.
The Russian discounter Torgservis is entering Germany's crowded
discount grocery market with a new chain of stores aimed at
undercutting reigning discounters Aldi and Lidl on prices. The
Siberian-based company plans to open the first of its discount
supermarkets--named Mere--in Leipzig this year before rolling out
100 stores across Germany in an initial expansion wave. -Die
Welt
Italy's two deputy prime ministers, Luigi Di Maio and Matteo
Salvini, have signaled they are willing to scale back the deficit
target for their populist government's budget law to 2%,
potentially de-escalating a clash with Brussels. -Corriere
The British soccer team Manchester City risks being banned from
Europe's Champions League following an investigation into
allegations the team manipulated its sponsorship income. The
investigation--commissioned by the association UEFA after emails on
the team's finances were leaked last month--is on track to end
"very soon" and expected to recommend charges against Manchester
City. -The Times
Germany's Lidl increased the volume of fruits and vegetables it
purchased from Spanish producers this year by 35% to EUR1.94
billion. Lidl now accounts for 10.5% of all fruit and vegetables
sales in Spain, making the German discounter Spanish producers'
biggest client. -Expansion
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(END) Dow Jones Newswires
December 04, 2018 07:30 ET (12:30 GMT)
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