Latest Business News: ThyssenKrupp Mulls Selling Part of European Steel Business

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Latest Business News: ThyssenKrupp Mulls Selling Part of European Steel Business

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Latest Business News: ThyssenKrupp Mulls Selling Part of European Steel Business

by Wochit 1:00 mins

Latest Business News: ThyssenKrupp Mulls Selling Part of European Steel Business

by Wochit 1:00 mins

Unnamed supervisory board sources are cited for saying that ThyssenKrupp, Germany's biggest steelmaker, is examining the possibility of selling part of its European steel business to an investor. A company spokesman declined comment on the subject and pointed to previous statements by Chief Executive Heinrich Hiesinger that Thyssen had no plans to divest European steel operations. German Finance Minister Wolfgang Schaeuble slammed Irish bankers caught on tape joking about a bailout, calling them "aloof super humans" worthy of contempt. German fashion house Hugo Boss Chief financial Officer Mark Langer said the company wants its Asian business to lift its contribution to group sales to 21 percent from 15 percent by 2015. Langer said about two-thirds of the target should come from China, where Hugo Boss is taking over shops from franchise partners and expanding existing stores.

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