ROUNDUP: Siemens confirms outlook despite weakening automation business

MUNICH - Subdued demand in its automation business weighed on the technology group Siemens in the second quarter. However, a better development in the other areas almost compensated for this. Siemens confirmed its forecast when presenting its figures in Munich on Thursday, but became more pessimistic for its Digital Industries division. The reduction of full inventories at customers in the automation business is likely to take longer than expected, particularly in China, it said. Siemens raised the lower end of the expected range for sales and profitability for the well-performing business with intelligent infrastructure.

ROUNDUP 2: Deutsche Telekom gets off to a good start to the year - CEO grumbles about conditions

BONN - Deutsche Telekom has developed significantly better than expected at the beginning of the year. In addition to a surprisingly large influx of new mobile customers, the DAX-listed company recorded a profit that exceeded analysts' expectations. Deutsche Telekom CEO Tim Hottges believes his company is well on the way to achieving its targets for the year as a whole. The Deutsche Telekom share nevertheless lost just under 0.9 percent in midday trading on Thursday.

Walmart increases sales thanks to high-income customers and e-commerce

BENTONVILLE - The supermarket group Walmart has posted another quarter of sales growth. On the one hand, the US shopping giant benefited from price-conscious consumers looking for everyday goods and discounts. On the other hand, Walmart's e-commerce business grew by more than a fifth. The company now expects a slightly better full year than planned, as it announced on Thursday in Bentonville in the US state of Arkansas. The shares rose by a good six percent in pre-morning US trading.

ROUNDUP: EU Commission initiates proceedings against Facebook parent company Meta

BRUSSELS - The European Commission is opening proceedings against the Facebook and Instagram parent company Meta on suspicion of violations against the protection of minors. There are fears that the design of the services, including their algorithms, could trigger addictive behavior in children, the Brussels authority announced on Thursday.

ROUNDUP: Roche achieves first trial success in obesity - share price rises

BASEL - Roche has scored a first important study success in its fight against obesity. As data from an early clinical trial with the recently acquired candidate CT-388 show, the drug was very effective. Once-weekly treatment with the candidate led to an average weight loss of 18.8 percent within just six weeks, the Basel-based company announced on Thursday. This is also a lot compared to the already approved weight loss injections, according to analysts.

ROUNDUP: Swiss Re makes billions in profit in the first quarter - share price jumps

ZURICH - Swiss Re, the world's second-largest reinsurer, has started the year with a billion-euro profit thanks to lower major losses and good business on the capital markets. The bottom line for the first quarter was a surplus of just under 1.1 billion US dollars (1.0 billion euros), as the company announced in Zurich on Thursday. The figures also reflected the bridge collapse in Baltimore. Meanwhile, outgoing CEO Christian Mumenthaler is still targeting a Group profit of more than 3.6 billion dollars for 2024.

ROUNDUP: Easyjet boss Lundgren leaves - share price plummets

LUTON - Change of boss at British low-cost airline Easyjet: Group CEO Johan Lundgren is handing over the position to former CFO Kenton Jarvis at the beginning of 2025, as Easyjet announced on Thursday in Luton near London. Before then, the two expect a "record summer" - and a strong increase in profits. However, the news was met with significant share price losses on the stock market.

ROUNDUP 2: Grand City Properties makes a profit again in the first quarter

LUXEMBOURG - Aroundtown subsidiary Grand City Properties (GCP) has returned to profit in the first quarter. The bottom line was a profit of 43.7 million euros, as the group announced in Luxembourg on Thursday. A year earlier, the devaluation of the portfolio had resulted in a loss of just under 12 million euros. In 2023 as a whole, the company had slipped even further into the red due to a lower valuation of the properties.

Siemens sells Innomotics to KPS for 3.5 billion euros

MUNICH - The technology group Siemens has found a buyer for its subsidiary Innomotics. The division for motors and large gearboxes with around 15,000 employees will be sold to the US investment company KPS for 3.5 billion euros, the company announced in Munich on Thursday. The deal is expected to be completed in the first half of the 2024/2025 financial year (September 30). The transaction still has to be approved by the merger control authorities, among others. Siemens has wanted to divest the business for some time and has made the division independent. An exit from Borsen had also been examined.

ROUNDUP: Hugo Boss brings David Beckham on board - share price rises

METZINGEN - The fashion retailer Hugo Boss is bringing "icon" David Beckham on board as a designer. The former professional soccer player will help design next year's men's collection, as the Metzingen-based company announced on Thursday. The first collection will be presented in spring/summer 2025, although Beckham will already be featured in the brand's global fall/winter campaign this year. The partnership is set to run for several years, said a company spokeswoman. It goes well beyond 2025. Hugo Boss shares rose by up to 3.5 percent, their highest level in two weeks.


Further news

-ROUNDUP: TV advertising expenditure slows down Freenet - share price skids

-Cisco forecast signals recovery in IT spending

-German telecom stake BT Group wants to save further billions in costs

-Zurich Group remains on course for growth in claims business

-UBS CEO: Bank will be only 40 percent larger after CS integration

-Novartis presents new data on Scemblix and Kisqali

-Shareholder scolding for Deutsche Bank managers

-Novartis is on target with planned Morphosys takeover

-RAG Foundation lowers Evonik stake to around 47 percent

-Dispute over autonomous driving: Lawsuit against Tesla clears first hurdle

-Rapid transport is booming - Eurostar wants to buy up to 50 new trains

-Günther: TKMS becoming independent would be good for marine location

-OpenAI rival Anthropic brings Instagram co-founder on board

-Google introduces new anti-theft protection for Android smartphones

-Google boss: People will build relationships with AI assistants

-Lindner gives new impetus to hopes for delivery claim for publishers

-DFB extends contract with general sponsor VW

-Third Wirecard defendant considers testifying in July

-Verdi criticizes planned abolition of Galeria supervisory board

-Hundreds of Telekom employees strike in front of European Championship stadium in Stuttgart

-EnBW starts construction of XXL wind farm in the North Sea

-Negative trend in goods handling in the Port of Hamburg continues

-Online subsidiary DKB helps BayernLB to good quarterly results

-ROUNDUP/Court confirms: Tree houses in the camp against Tesla may remain

-ECJ: Staff shortages at airports can justify delays°

Customer tip:

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