ROUNDUP: Talanx raises 300 million euros from investors - share price plummets
HANOVER - Insurance group Talanx (HDI) has raised fresh money from investors following its recent record high on the stock market. A capital increase announced on Tuesday evening raised 300 million euros, as the MDax-listed company announced shortly before midnight in Hanover. In addition, majority shareholder HDI, a mutual insurance company, threw additional securities on the market for 100 million euros. This brings its stake down from 78.9 to 76.7 percent and increases the proportion of shares in free float. On the stock exchange, however, the news was met with a slide in the share price.
Car sales in the EU continue to recover from bottlenecks
BRUSSELS - Car sales in the European Union continue to recover significantly from last year's component bottlenecks. A total of 787,626 new passenger cars were registered in August, 21 percent more than a year earlier, the European industry association Acea announced Wednesday in Brussels. In this context, August is usually somewhat weaker in terms of car sales. This year, however, the recovery has continued to gain momentum: Overall, car sales in the first eight months of the year have grown namely on average only by 17.9 percent to just under 7.1 million cars. However, that is still just under 2 million fewer than in the pre-Corona year of 2019. Shortages of electronic chips and other components had slowed car production in 2022.
ROUNDUP: Caravan maker Knaus Tabbert screws up margin target.
JANDELSBRUNN - Caravan and motorhome manufacturer Knaus Tabbert has raised its margin forecast for this year. Because prices for material purchases have risen much more slowly than expected, the company will be more profitable in the current year than last expected, Knaus Tabbert announced Wednesday in Jandelsbrunn. The share, which has been listed on the stock exchange since the fall of 2020, rose by almost ten percent.
Commerzbank expects even slightly higher net interest income for the full year
FRANKFURT - Commerzbank apparently expects an even slightly larger net interest income in the current year due to the sharp rise in interest rates. As the group's chief financial officer, Bettina Orlopp, said at a financial conference on Tuesday, net interest income is likely to rise to eight billion euros. Most recently, the group had forecast at least 7.8 billion euros. Commerzbank is heavily dependent on private and corporate customer business. It therefore benefits particularly from higher interest rates.
Deutsche Bank CEO Sewing: No resting on recent successes
FRANKFURT - German banks should not rest on their recent successes, according to Deutsche Bank CEO Christian Sewing. "Germany's and Europe's banks are more profitable today than they have been for many years," Sewing, who is also president of the Association of German Banks, said Wednesday at a "Handelsblatt" conference in Frankfurt.
'HB': BMW boss Zipse to stay on until 2026
DÜSSELDORF - BMW CEO Oliver Zipse is on the verge of an early contract extension, according to a newspaper report. As the "Handelsblatt" (Wednesday) reported, citing circles, his contract is to be extended by another two years at a supervisory board meeting next week. According to the report, the 59-year-old is to remain at the helm of the Dax group until summer 2026. BMW would not comment on the personnel matter when asked by the paper.
ROUNDUP: Deutsche Bank wants to solve worst Postbank problems by mid-October
FRANKFURT - Deutsche Bank is working flat out to resolve problems at its Postbank subsidiary following a rebuke from financial regulator Bafin, and aims to have most of them resolved by October. He expects critical issues such as garnishment protection accounts to return to normal operations in the course of October, Deutsche Bank CEO Christian Sewing said Wednesday at a banking conference in Frankfurt. He said he saw a similar trend in loan disbursements. "Overall, to clear all the backlogs, we need not only the third quarter, but also the fourth quarter," the group chief said.
Deutsche Borse has secured majority stake in Simcorp
FRANKFURT - Deutsche Borse has secured a majority stake in Danish software company Simcorp. A total of around 94 percent of the shares had been tendered, the DAX-listed group announced on Wednesday on the basis of preliminary figures. The final results will be published on Friday at the latest. After publication, the offer will be settled within a maximum of five days and thus completed.
ROUNDUP 2: Pesticide glyphosate - extension of approval becomes more likely
BRUSSELS - The approval of the controversial weedkiller glyphosate could be extended, according to a proposal by the EU Commission. According to the document posted online Wednesday, the drug could be used for ten more years. The draft will be discussed with EU states on Friday. "Our proposal is based on scientifically sound information," an EU Commission spokesman said at noon. According to the documents, certain conditions are foreseen for the use, such as risk reduction measures. This involves, for example, preventing glyphosate from being heavily blown away during use.
ROUNDUP/Vonovia: Currently not building 60,000 apartments due to high costs
BERLIN - Germany's largest real estate group Vonovia says it is refraining from building tens of thousands of new apartments for the time being because of high interest rates and construction costs. "We have plans for a total of 60,000 apartments in the drawer," CEO Rolf Buch told the Funke Mediengruppe newspapers (Wednesday). "We're getting everything ready up to the point of building law. And hope that building will soon be worthwhile and profitable again. Then we want to build again immediately."
-ROUNDUP: EU wants more information for buyers on sustainability
-ROUNDUP: Hospitals demand additional financial injections at protest day
-ROUNDUP 2/'FAZ': General renovation of Hamburg-Hanover railroad line in 2029
-VW works council head warns of 'perfect storm'
-Kühne backs down - Currently no counteroffer to HHLA deal after all
-No construction stop for LNG terminal - Nabu also fails in court
-Second warning strike started at energy company Leag
-German upholstered furniture industry fails to receive orders
-Fuel is becoming more and more expensive
-ROUNDUP: German government at odds over abandoning Chinese 5G technology
-BUND: Chemical industry is largest industrial consumer of oil and gas
-Faeser plans ban on critical 5G components from China starting 2026
-ROUNDUP: Unsuccessful wall tactics and anger over penalties - False start for BVB
-Mercedes to produce new CLA in Rastatt, Germany
-Gigaset AG files for insolvency°
ROUNDUP: You are reading a summary in the company overview. There are several reports on this topic on the dpa-AFX news service.