Polish loans weigh on Commerzbank – Nevertheless, net profit expected for 2021
FRANKFURT – Due to the uncertainty surrounding foreign currency loans in Poland, Commerzbank is preparing for another burden. The Polish subsidiary mBank made additional provisions in the amount of around 436 million euros at the end of 2021, the Frankfurt money house announced on Friday evening. Commerzbank’s operating result in the fourth quarter would also be affected by this amount. Nevertheless, the management around CEO Manfred Knoff still expects to be in the black for the full year 2021. The Commerzbank share came under pressure, however, and the price on the Tradegate trading platform fell by more than three percent in an initial reaction.
ROUNDUP: Airbus terminates contract for A321neo in dispute with Qatar Airways
LONDON – The dispute between Airbus (Airbus SE (ex EADS)) and Qatar Airways is entering a new round. The aircraft manufacturer announced the airline an order for its currently unavailable new jet A321neo, as Airbus confirmed on Friday when asked. Several media had previously reported about it. With the refusal to deliver 50 jets ordered, Airbus is also defending itself out of court against one of its most important customers. The news of the Airbus share hit the stock market, losing over two percent on Friday.
Press: Lufthansa could compete for a 40 percent stake in ITA Airways
ROME – According to a press report, Lufthansa could seek a 40 percent stake in Alitalia’s successor company ITA Airways. Both sides are close to an agreement, the Italian newspaper “Il Foglio” reported, citing unnamed sources. The plan, which could be announced in the coming days, is subject to approval by the European Union. A spokesman for ITA, asked for comment by the Bloomberg news agency, said no steps would be taken on possible alliances before the presentation of a strategic plan to the company’s board on Jan. 31./edh
FT: Hedge fund Trian Partners wants to put pressure on with Unilever stake
LONDON – According to a press report, the activist hedge fund Trian Partners has acquired a stake in the consumer goods group Unilever. This was reported by the “Financial Times”, but gave no information on the extent of the involvement or when it began. According to the report, Trian may want to increase the pressure on Unilever management after the failed takeover bid for the consumer health division of the pharmaceutical company GlaxoSmithKline (GSK) (GlaxoSmithKline).
Infineon sees the end of the chip crisis in 2023
MNICH – The semiconductor manufacturer Infineon expects the chip crisis in the automotive industry to end no later than next year. “I assume that we will be able to cover the demand well in 2023. In the case of microcontrollers that we have manufactured externally, we will still have a strong limit in 2022,” said Infineon’s automotive boss Peter Schiefer of “Automobilwoche”. But the second half of the year will be better than the first. With self-manufactured products such as power electronics and sensors, there are no longer any bottlenecks today. “And we will be able to deliver as far as possible by the summer. The last issues will be resolved in 2023.”
Tui sees himself on course
HANNOVER – The world’s largest travel group TUI sees itself on course almost two years after the outbreak of the corona pandemic. “We remain confident that what we have done over the past two years will work out,” CFO Sebastian Ebel told the “Bresen-Zeitung”. The changes in corona management in England also support these expectations, since then the booking volume there has picked up significantly. Prime Minister Boris Johnson had announced an end to all corona measures for most of the country.
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Additional Reports
-Event industry expects wave of layoffs in March
-ROUNDUP: The situation at MV shipyards remains unchanged from the point of view of the union
-Klingbeil expects a decision on the EEG apportionment to be made soon
-ROUNDUP 2: Government wants to speed up housing construction and energy transition
The tourism industry demands clear rules before corona consultations
-Media: Financial investors offer 9 billion US dollars for US retail chain Kohl’s
-Media: Turkish banking supervisory authority recommends that banks stop paying dividends
-New boss for Italian telecom group Tim
– First build cell phone masts, then approve them? City council is against it
-Trade for lifting of delivery restrictions and Sunday driving ban
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.
/edh