ThyssenKrupp AG, Germany’s largest steelmaker, reported fiscal first-quarter earnings that beat analyst estimates as revenue from non-steel businesses increased and losses from the Americas narrowed. The shares rose.
Chancellor Angela Merkel’s deputy chided Siemens AG Chief Executive Officer Joe Kaeser for traveling to Moscow, saying German companies shouldn’t sell out European values to protect business with Russia.
For 60 years, the name of Berthold Beitz has been synonymous with Germany’s biggest steelmaker, ThyssenKrupp AG, at first for his role in rebuilding the former arms supplier and helping it break with its Nazi past.
A breakup of ThyssenKrupp AG -- an idea long-resisted by its biggest shareholder -- is starting to look more realistic after activist investor Cevian Capital AB increased its stake in the German conglomerate.