ROUNDUP: Volkswagen with another profit warning – group under pressure
WOLFSBURG – The ailing Volkswagen (Volkswagen (VW) vz) Group is coming under increasing pressure. CEO Oliver Blume has to cut his profit prospects again because the company won’t sell as many cars this year as once hoped. According to the information, things are going worse than expected, especially for the already very strained core brand VW Passenger Cars, but VWN’s light commercial vehicles and its own supplier division are also weakening. The poor economic situation is putting a strain on sales, and the group’s financial services division is also earning less. VW shares fell after trading.
Steel boss at Thyssenkrupp announces tougher cuts
ESSEN – Dennis Grimm, new head of the steel division at thyssenkrupp, announces tougher cuts than previously planned. “The current market situation has deteriorated again in the past few months, and unfortunately there is no recovery in sight,” Grimm told “WAZ” (Saturday). Germany’s largest steel company must react to this. The cuts could therefore be deeper than previously planned.
Circles: Union wants to stop Schenker sale at the last moment
BERLIN – On Wednesday, the supervisory board of Deutsche Bahn is scheduled to vote on the sale of the logistics subsidiary DB Schenker – but the committee’s approval is shaky. The railway and transport union EVG wants to oppose the sale, as the German Press Agency learned. The “Frankfurter Allgemeine Zeitung” also reported on the EVG’s project. If EVG can convince other members of the committee of its position, the sale could still be stopped.
Car insurance: It gets expensive
MUNICH/HEIDELBERG – In the upcoming price round for car insurance, it is likely to become significantly more expensive. The offers for people changing insurance are currently 21 percent higher than a year ago, according to calculations by the comparison portal Verivox. This does not mean that price increases of this size will also occur for existing insurance, but the offers provide an indication of the development of prices.
ROUNDUP: Baywa expects more money and further silence from the banks
MUNICH – BayWa’s board of directors expects the creditor banks to give the company, which has plunged deep into crisis, more time and money to solve its problems. The board assumes that the signatures of the main lending banks for the extension of the so-called standstill agreements until the end of the year will be available in the next few days, Baywa announced on Sunday evening.
Solar company Meyer Burger is postponing the presentation of its half-year figures again
THUN – The ailing Swiss solar company Meyer Burger (Meyer Burger Technology) achieved significantly less sales according to unaudited half-year figures. The company wants to publish the audited half-year results by the end of October at the latest.
INDEX MONITOR: Alzchem replaces Vitesco in SDax after merger with Schaeffler
FRANKFURT – The specialty chemicals company Alzchem Group (AlzChem) will replace the departing drive specialist Vitesco (Vitesco Technologies) in the SDAX small cap index. Deutsche Börse announced this late on Friday evening. The new index composition will take effect on October 2nd (Tuesday). Vitesco was taken over by the automotive and industrial supplier Schaeffler and is due to be merged with them at the beginning of October. October 1st (Monday) is expected to be the last trading day for Vitesco shares. The Regensburg-based company was only spun off from the former parent company Continental via a spin-off in September 2021 and is now being accommodated by the Franconians of Schaeffler./men
Microsoft restricts controversial AI search function
REDMOND – After criticism, Microsoft is introducing further restrictions for the Windows search function “Recall”, which is supposed to save screen recordings every few seconds. The Windows company announced that “Recall” will not, among other things, record any recordings of passwords and credit card numbers. Information from websites with health and financial data should also be filtered out. Microsoft is responding to one of the central criticisms of the function.
Cyber attack hits French news agency AFP
PARIS – The French news agency AFP has been hit by a cyber attack. The attack on the Agence France-Presse information system, which partly also affected the transmission technology to customers, was discovered on Friday, the agency announced in Paris. The perpetrators of the attack and possible motives were still unknown on Sunday.
Musk declares high levels of sickness in Grünheide to be a matter for the boss
GRÜNHEIDE – Because of the high level of sickness at the Tesla factory in Grünheide, company boss Elon Musk wants to get a personal picture of the situation. “That sounds crazy. I’ll look into it,” he commented on an X-post that was about the supposedly exceptionally high sickness rate at the plant.
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More news
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-ROUNDUP 2: Depreciation weighs on Baywa – 290 million loss
-Pharmacists warn of supply bottlenecks for medicines
-Borussia Dortmund beat Bochum 4:2° after falling behind
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