ROUNDUP: Aroundtown in the red - shares in the red

LUXEMBOURG - The commercial real estate specialist Aroundtown is still deep in the red after nine months due to the weak environment. As expected, investors reacted negatively on Wednesday, but the Management Board confirmed its forecast for the year. Due to the devaluation of the real estate portfolio, the net loss amounted to just under 1.4 billion euros after a profit of around 578 million euros a year ago, as the company announced in Luxembourg in the middle of the week. The Group had already posted the majority of the loss in the first half of 2023.

ROUNDUP: New problems with Philips ventilators - shares fall

AMSTERDAM/SILVER SPRING - The medical technology manufacturer Philips is once again in trouble with the US Food and Drug Administration (FDA) in connection with its ventilators. However, the foam material, which has been much criticized in the past, is not likely to be the problem again - this time there is talk of overheating risks. The Dutch company's shares came under pressure on Wednesday.

ROUNDUP: Signa Holding of real estate billionaire Benko files for insolvency

VIENNA - Austrian real estate and retail entrepreneur René Benko's Signa Holding GmbH has announced insolvency proceedings. The holding company will apply to the Vienna Commercial Court on Wednesday for the opening of restructuring proceedings under self-administration, the Signa Group announced. "Despite considerable efforts in recent weeks, the necessary liquidity for an out-of-court restructuring could not be secured to a sufficient extent," the statement said.

ROUNDUP: GM wants to completely save higher costs in 2024 through collective bargaining agreement

DETROIT - The US car giant General Motors wants to completely offset the higher costs caused by a 25 percent increase in income next year through cost-cutting measures. The company also wants to spend considerably less money on its robotaxi subsidiary Cruise than in 2023. Cruise's self-driving cars are largely at a standstill following an accident in San Francisco and expansion plans for the business are being put on hold.

Fraport CEO targets dividends for 2025 - currently no major takeovers

FRANKFURT - Fraport CEO Stefan Schulte expects to resume dividends the year after next. "We want to generate a positive free cash flow in 2025," the manager told the "Borsen-Zeitung" (Wednesday edition). Then we will also be able to pay dividends again. "At the moment, we as Fraport would therefore not make any major acquisitions."

Saudi Arabia wants to acquire a stake in London's Heathrow Airport

LONDON - Saudi Arabia wants to acquire a stake in London's Heathrow Airport. According to a statement on Wednesday, the sovereign wealth fund Public Investment Fund (PIF) wants to acquire ten percent of the shares currently held by the construction group Ferrovial. Ferrovial was previously the largest shareholder and now wants to sell its 25 percent stake. In addition to the sale to Saudi Arabia, 15 percent of this is to go to the French investment company Ardian. The company intends to raise around 2.37 billion pounds (2.73 billion euros) from the sale. Heathrow Airport in west London is the largest airport in the UK and one of the leading airports in Europe.


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Customer note:

ROUNDUP: You can read a summary in the company overview. There are several reports on this topic on the dpa-AFX news service.