Lufthansa: normalization of flight operations only in 2023
BERLIN – The German airline Lufthansa does not expect flight operations to return to normal until next year. “Unfortunately, we will hardly be able to realistically achieve a short-term improvement now in the summer,” Lufthansa board member Detlef Kayser told the “Welt”. Currently only helping to reduce the number of flights. This is not only a German problem, but applies to the whole world. “We expect the situation to return to normal overall in 2023.”
Südzucker boss expects higher sugar prices
MANNHEIM – According to Sdzucker boss Niels Prksen, sugar will become significantly more expensive. “It’s already visible today,” said the CEO of the daily newspaper “Mannheimer Morgen” (Saturday).
Port of Hamburg demands suspension of the Sunday driving ban for trucks
HAMBURG – The head of Hamburger Hafen und Logistik AG (HHLA) has called for the current driving ban for trucks to be suspended on Sundays because of the container jam. “Our problem at the moment is that many companies are slow to pick up their containers. The containers used to be with us for one or two days. Now it’s five days and significantly longer,” said Angela Titzrath of the “Frankfurter Allgemeine Sonntagszeitung” (“FAS”). . In addition to the consequences of the pandemic and the temporary blockage of the Suez Canal at the end of March 2021, the war in Ukraine also has a direct impact on the collection of containers in Hamburg: 100,000 truck drivers from Ukraine and Belarus are missing.
Cosmetics group L’Oreal sees no slump in sales despite price increases
BERLIN – The French cosmetics group L’Oreal (LOral) continues to see high sales despite price increases. “In Germany, the make-up market has been booming for a few weeks, since masks are no longer mandatory,” said board member Alexis Perakis-Valat of “Welt am Sonntag”. At the same time, the average price increases. “We see something similar worldwide.” The industry is even selling more than in the months before the pandemic. In contrast to food, the frequency with which cosmetics are bought is low. “There is less pressure to save.”
Jungheinrich: No canceled orders despite the war – On course for 2025 targets
HAMBURG/FRANKFURT – The forklift manufacturer and Kion (KION GROUP) rival Jungheinrich believes in its medium-term goals, despite the consequences of the Ukraine war and high inflation. “We currently see ourselves as still on course to achieve the goals set for 2025,” said CEO Lars Brzoska of the “Brsen-Zeitung” (Saturday). So far, despite the war in Ukraine – unlike at the beginning of the corona pandemic – there has been no drop in orders.
ROUNDUP: 150 years of Schenker – DB subsidiary not only relies on rail
BERLIN – The logistics company Schenker, which today belongs to Deutsche Bahn, was international right from the start. The Swiss Gottfried Schenker founded his forwarding company on July 1, 1872 in Vienna. He backed the idea of combining individual consignments over long distances, such as from Vienna to Paris, to form larger shipments. The concept also included using various modes of transport, from rail to ship, if necessary. The business model is still successful 150 years after it was founded. The subsidiary of Deutsche Bahn recently made record profits. Nevertheless, there are discussions as to whether the group should part with the logistics subsidiary.
Kreise: Wagon rental company VTG could change owners – valuation over 5 billion euros
FRANKFURT – According to insiders, the investment company Global Infrastructure Partners, which specializes in infrastructure systems, may be about to buy the wagon rental company VTG worth billions. Global Infrastructure Partners is about to reach an agreement with the infrastructure division of US bank Morgen Stanley on a takeover that could value VTG at more than 5 billion euros, the Bloomberg news agency reported on Friday evening, citing people familiar with the matter. There are also other interested parties and the matter is not yet settled. Morgan Stanley took over VTG in 2018 for a valuation of 1.5 billion euros and then took it public. According to Bloomberg, there was initially no comment from either financial investor.
Adler Group sells residential portfolio to subsidiary Adler Real Estate
LUXEMBOURG – The ailing real estate group Adler Group (ADLER) is selling a real estate portfolio to its subsidiary Adler Real Estate as part of the intended simplification of the nested corporate structure. For the existing portfolio with around 1400 residential units in Berlin and a market value of 326 million euros at the end of March, taking into account minority interests, financial liabilities and deferred taxes, around 275 million euros will flow, as the Adler Group announced on Friday evening. “The transaction is against the background of the optimization of processes and structures within the Adler Group”, which, according to the allegations of a short seller, is currently working on improving its transparency and corporate governance.
Clariant boss: leaner organization and additional takeovers in focus
MUTTENZ – The specialty chemicals manufacturer Clariant is streamlining its organization these days. “With the new operating model, we should now be in the right position to implement our growth strategy,” said CEO Conrad Keijzer in an interview with “Finanz und Wirtschaft”.
Singulus in trouble – postpones 2020 balance sheet again
KAHL AM MAIN – The mechanical engineering company Singulus (Singulus Technologies) has to postpone the long overdue submission of its 2020 annual balance sheet again. The auditing company KPMG has requested additional documents, which the company cannot deliver in the required time. The Lower Franconian company announced this on Friday. The new release date is now July 23rd.
New data on omicron vaccines – displeasure with approval practice
MAINZ – In the race against the mutating corona virus, manufacturers have presented positive clinical data on adapted vaccines from their point of view. For example, Pfizer/Biontech and Moderna recently published results according to which their adapted boosters also stimulate an efficient immune response against the newer omicron sublines BA.4 and BA.5.
Government announces use of foreign helpers at airports
BERLIN – The federal government wants to alleviate the tense staffing situation at German airports with the possibility of temporarily employing foreign workers. Labor Minister Hubertus Heil (SPD) said this to the “Bild am Sonntag” (“BamS”). “We want to rule out any form of social dumping and exploitation. Employers have to pay wages and provide decent accommodation for a limited period of time.”
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Additional Reports
-Wissing wants better internet on the ICE
-Further talks agreed on in collective bargaining dispute over dockworker wages
-Discussion about the future of DB Schenker continues
-Verband Pro Bahn rt at the beginning of the holiday to switch to long-distance transport
-Borussia Dortmund signs top talent from Ajax youth
-British trains stand still again – No agreement in sight
-SPD in the Bundestag suggests one-time payments to employees
-Before the tax increase: e-cigarette users buy big again
Customer note:
ROUNDUP: You are reading a summary in the company overview. There are several reports on the dpa-AFX news service on this subject.
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