ROUNDUP: Demand at Hornbach high despite inflation - but earnings down
BORNHEIM - Customers will also have to dig deeper into their pockets at DIY stores this year than in the past. At operator Hornbach, shoppers are still unimpressed. The high level of demand for DIY and home improvement supplies continued in the third quarter of the financial year, Hornbach Holding, which is listed on the SDax, announced in Bornheim on Thursday. And visitor numbers at the do-it-yourself (DIY) stores are also on the rise. At the same time, however, cost pressure continues to cause the company problems. Thus, sales of the operator holding climbed significantly in the third fiscal quarter, but earnings fell.
US memory chip maker Micron to cut jobs after losses
BOISE - After high losses at the start of the new fiscal year, the semiconductor company Micron Technologoy < S5951121038> is stepping on the cost brakes. Thus investments are to be massively reduced, as the largest memory chip manufacturer of the USA announced on Wednesday after stock market close. In addition, Micron wants to cut ten percent of the last existing 48,000 jobs. Also bonuses are to be eliminated company-wide and the salaries in the management are to sink. A share buyback program was suspended. The group had already announced last month that it would cut production by around 20 percent.
Rheinmetall and KMW to repair Puma tanks in 2 to 3 weeks
BERLIN - Defense contractors Rheinmetall and Krauss-Maffei Wegmann (KMW) plan to repair the defective Puma infantry fighting vehicles within the next two to three weeks. The companies announced this in a joint statement on Wednesday. According to the statement, some of the tanks will be inspected since this Wednesday at Rheinmetall's Unterluess site in Lower Saxony, among other locations, to determine the exact damage. Expert personnel from KMW and Rheinmetall have been dispatched to the Bundeswehr sites where other Puma vehicles are located, it said.
EU commercial vehicle market continues to weaken - More trucks but fewer vans
BRUSSELS - Weak demand for small vans is keeping the commercial vehicle market in the European Union under pressure. While sales of new trucks continued to rise in November, overall new commercial vehicle registrations fell for the 17th consecutive month, according to European manufacturers' association Acea in Brussels on Thursday. According to the report, a total of 141,903 new commercial vehicles were registered in November, 0.6 percent fewer than a year earlier. However, the decline in October had been significantly higher at 8.5 percent. Looking at the first eleven months of the year, the figure is down 15.5 percent to 1.46 million vehicles.
France's data protection authorities impose million euro fine on Microsoft
PARIS - Microsoft is to pay a fine in the millions for violations of legal regulations on cookies in France. France's data protection authority CNIL imposed a fine of 60 million euros on the software manufacturer, as the CNIL announced in Paris on Thursday.
ROUNDUP: Residential real estate cheaper than in previous quarter for the first time in years
WIESBADEN - Trend reversal on the market for residential real estate: For the first time in about eight years, prices for apartments and houses have fallen compared to a previous quarter. In the period from July to September, they were on average 0.4 percent cheaper than in the second quarter of this year, as reported by the Federal Statistical Office on Thursday. According to the report, the last decline compared to a previous quarter was recorded in the fourth quarter of 2014. The subdued demand was also noticeable in a year-on-year comparison. Prices rose at a significantly slower rate. Times are getting tougher for the construction and real estate industries after years of boom.
ROUNDUP: Wholesaler Metro sells India business
DÜSSELDORF - Wholesaler Metro is selling its India business, built up over the past 19 years, to domestic retail giant Reliance. "With Metro India, we are selling a growing and profitable wholesale business at the right time," Metro CEO Steffen Greubel said Thursday. The Indian retail industry is characterized by strong consolidation and disproportionate growth in online business, he said. Therefore, according to Greubel, significant investments would be needed to further expand the business.
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Further news
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-German automakers lose market share in China
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-ROUNDUP: Tschentscher considers new 'cum-ex' investigation into HSH unnecessary
-FDP parliamentary group leader wants debate on natural gas reserves in Germany
-Roche receives FDA approval for Actemra for Covid 19 treatment
-INTERVIEW/Commerzbank's head of private banking: Would think about opening on Saturdays
-Mercedes manager: Digitalization most important transformation topic
-Ifo: Supply situation in the retail sector partially eases
-German farmers focus on rapeseed due to Ukraine war
-Rail association urges speedy expansion of barrier-free train stations
-Car supplier Brose makes profit again
-Founder of bankrupt crypto exchange FTX to be extradited to USA
-Experts expect construction interest rates to rise moderately in 2023
-Fixed network Internet data consumption continues to rise
-General practitioners' association calls for additional money for burdened practices
-50Hertz boss Kapferer sees decreasing resistance to wind energy
-EU Commission also gives green light for Lubmin LNG terminal
-Federal government completes entry into Uniper
-Partial withdrawal from gas project off German-Dutch coast
-ROUNDUP: Cold weather caused gas consumption to rise sharply - filling level at 87.2 percent
-Condor puts first jet of new long-haul fleet into service
-EKD chief draws attention to emergency in children's hospitals
-ROUNDUP: Founder of bankrupt crypto exchange FTX to be extradited to U.S.
-North Sea-Baltic Canal possibly open again on Friday
-worries about rail strikes on New Year in France
-Study: Christmas potato salad almost a quarter more expensive
-Costs for relocated Tokyo Olympics higher than reported°.
Customer Notice:
ROUNDUP: You are reading a summary in the company overview. There are several reports on this topic on the dpa-AFX news service.
/jha
