British tour operator Thomas Cook, one of the largest travel companies in the world, has collapsed. After talks on a financial rescue failed. Neckermann travel agency, part of the failed British company in the Czech Republic, has 1,100 Czech clients abroad. According to a spokesperson, Neckermann will arrange flights home for them, but there […]
The Czech National Bank (CNB) is likely to hold interest rates unchanged through 2020 as it balances inflationary pressures at home with policy easing and economic weakness abroad, a Reuters poll of analysts showed on Monday. The central bank has paused its two-year tightening cycle since delivering a rate hike in May, when it […]
Skoda Auto has begun mass production of its first electric plug-in hybrid model the Superb iV at its Kvasiny plant today. The company invested EUR 12 million (CZK 311 million) in the hybrid plant. The plant is expected to reach its full production capacity of 60 cars per day by February. Superb iV […]
E.ON SE has hired BNP Paribas SA to help sell an energy supplier in the Czech Republic it’s gaining as part of its pending takeover of rival Innogy SE, people with knowledge of the matter said. E.ON plans to kick off a formal sale process for Innogy’s Czech electricity and gas retail business in […]
German Rewe Group, the owner of Exim Tours, has acquired CK Fischer from Karel Komarek’s KKCG. Company representatives refused to comment on the sale. The merger has yet to be approved by the office for the Protection of Competition (ÚOHS). The Antimonopoly office said they had not received a proposal to authorize the merger […]
Petr Kellner’s PPF Group acquired a 19.2% stake in Autolus Therapeutics. Autolus is UK based biopharmaceutical company. PPF purchased the shares on the NASDAQ stock exchange. PPF Group said Autolus is in advanced stages of developing T-cell therapies, which target cancer cells for both hematological cancers and solid tumors. The stake in Autolus […]
Daniel Křetínský will not sign a deal to grant editorial independence to journalists at the French newspaper Le Monde. The Financial Times reported today, citing sources close to Křetínský. Křetínský disagrees with the terms of the proposed agreement, which he sees as “unreasonable from an economic point of view” and he is unlikely to […]
Romania’s state-owned energy company Hidroelectrica said it is interested in bidding on all of the Romanian assets of CEZ and Enel. Hidroelectrica’s announcement comes shortly after CEZ set a deadline of 25 September for bidders to express their interest in their Romanian holdings on 9 September. The companies head, Bogdan Badea told reporters […]
Journalists and editors at Le Monde signed and open letter demanding the Czech billionaire Daniel Kretinsky guarantee editorial independence for the French newspaper. The following is and excerpt from the open letter to Daniel Kretinsky. Le Monde is at a crossroads. For the first time in its history, it could be forced to […]