IPO: Borsengang of Arm to bring Softbank nearly five billion dollars

NEW YORK - The U.S. initial public offering of chip designer Arm is expected to raise as much as $4.9 billion for Japanese owner Softbank. An updated Borsen prospectus Tuesday set the price range for Arm shares at $47 to $51. Softbank plans to place 95.5 million share certificates in New York and continue to hold about 90 percent of Arm after the Borsen deal.

ROUNDUP: Almost every third new registration in August an electric car

FLENSBURG - The share of purely electric cars in new registrations in Germany reached the second-highest level ever recorded in a single month in August. 86,649 battery-electric vehicles took to the roads last month, according to the Federal Motor Transport Authority (KBA) on Tuesday. This meant that just under 32 percent of all newly registered passenger cars were on the road. That is more than double the previous year's figure and, according to the KBA, the second-highest share ever achieved in a single month.

ROUNDUP: Vodafone to expand network coverage with Amazon's Internet satellites.

SEATTLE/LONDON - Amazon has found big partners in the telecom industry for its planned network of Internet satellites. Vodafone and its African subsidiary Vodacom plan to rely on the system, called Kuiper, to expand their network coverage in some areas, the companies said Tuesday.

Stealth bomber: Rheinmetall to cooperate with Lufthansa

DÜSSELDORF/HAMBURG - According to a media report, the Rheinmetall armaments group plans to cooperate with Lufthansa's technical division in the maintenance of the F35 stealth bomber in the future. The cooperation is to be sealed on September 19, as Business Insider further writes. Spokesmen for Rheinmetall and Lufthansa Technik declined to comment on the report Tuesday. Bavarian electronic systems supplier ESG is also said to be on board.

Bafin reprimand for Deutsche Bank over complaints from Postbank customers

FRANKFURT/BONN - Financial regulator Bafin is increasing pressure on the group's parent company Deutsche Bank in view of massive complaints from Postbank customers. Bafin has been observing "significant impairments in the processing of customer business at Postbank" since the turn of the year 2022/2023, the Federal Financial Supervisory Authority (Bafin) reprimanded on Monday. The financial regulator was examining "whether there were supervisory-relevant deficiencies at the institution." Bafin had asked the bank to "remedy the restrictions in customer service as quickly as possible."

IAA: Conti hopes for new business from Chinese manufacturers

MUNICH - Automotive supplier Continental is counting on new business from manufacturers from China pushing into Europe. "We assume that Chinese manufacturers will then also set up plants in Europe to build cars here," Conti CEO Nikolai Setzer said Monday ahead of the start of the IAA Mobility auto show in Munich. "As a global supplier, we are a partner there that supports that at all times. We're standing at the ready."

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More news

-IAA: Lufthansa scratches the paint on connected mobility at the show

-More and more cars in Germany - numbers have been rising steadily for years

-Nordex wins several orders in Germany

-Delayed permits for wind power? Court hears lawsuits

-VW wants to solve parts shortage from Slovenia by the end of the year

-Research minister: One billion for fusion research

-ROUNDUP/Not without risk: Rapid rise in installment loans

-Study: Lithium could be demanded for decades with geothermal energy

-Rheinmetall delivers first Cheetah ammunition to Ukraine

-Kreis: New large investment in South Brandenburg possible - Porsche under discussion

-IAA/VW wants to reach one million leased bicycles by 2030

-ROUNDUP/Study: Germans love their sofa - but culture and sports are also booming

-Warning strikes in the retail sector - Around 1500 employees at rallies

-Birkenstock starts production in Mecklenburg-Western Pomerania

-Lufthansa vacation carrier Discover to be without Eurowings in its name in future

-Study: Expansion of semiconductor production increases demand for logistics real estate°.

Customer note:

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

/jha