Brenntag confirms preliminary takeover talks with Univar Solutions
ESSEN – Chemicals distributor Brenntag (Brenntag SE) is interested in acquiring US rival Univar Solutions (Univar). The company confirmed preliminary talks about a possible takeover on Friday evening. The Dax (DAX 40) group announced in Essen that these had not yet led to any concrete results or agreements. It is not foreseeable whether any form of transaction will take place.
ROUNDUP: Economist against dividends with price brakes – Habeck: ‘fire wall’
BERLIN – The new chairwoman of the “Wirtschaftswisemen”, Monika Schnitzer, has spoken out in favor of banning companies from paying bonuses and dividends if they benefit from the gas price brake. “I understand the resentment about bonus and dividend payments when companies are supported by the state,” said the chairwoman of the Economic Advisory Council to the newspapers of the Funke media group (Sunday). “It would not be plausible to allow this while the gas price brake is in effect.”
ROUNDUP: The luxury trade is not afraid of the crisis
DÜSSELDORF – The high prices for energy and food are forcing more and more people to tighten their belts. But the crisis has so far passed many luxury goods manufacturers such as Dior, Cartier or Louis Vuitton. They also achieved double-digit growth rates in the first nine months of this year. The boss of the champagne manufacturer Moët-Hennessy, Philippe Schaus, recently reported in an interview that most of the house’s top champagnes are practically sold out.
Study: German car market continues to normalize
DUISBURG/FRANKFURT – According to experts, increasing production figures and subdued demand are leading to a gradual normalization of the German car market in favor of customers. “The time of long delivery times and supply bottlenecks is slowly coming to an end,” sums up the Duisburg Center Automotive Research (CAR) in its market study for the month of November. After many months with a scarce offer, customers could in perspective choose more and hope for price reductions. This applies to new cars as well as used ones.
National security at risk: USA bans Huawei devices from the market
WASHINGTON – The US government has banned the sale and import of communication devices from Chinese smartphone manufacturers and network suppliers Huawei and ZTE. They posed an unacceptable risk to national security, the US telecommunications regulator FCC said on Friday. “As a result of our order, no new Huawei or ZTE devices can be approved,” FCC Commissioner Brendan Carr wrote on Twitter. It is also possible to revoke existing permits. It is the “first time in FCC history” that new devices have been banned due to national safety concerns.
Bahn board: rail network cannot cope with increasing demand
BERLIN – If the demand for regional transport increases due to the introduction of a 49-euro ticket, Deutsche Bahn sees little scope for a larger offer. “There is no space for additional trains in regional traffic around the major junction stations,” said Berthold Huber, the railway board member responsible for the infrastructure of the “Welt am Sonntag”. You can no longer make a quarter-hour cycle out of a half-hour cycle. “The infrastructure is dense.” One would have to try to provide more seats on the trains, but there are limits here too. “The infrastructure forgives for a long time, but now the point has been reached where it is no longer possible and the situation threatens to tip over.”
Warsteiner and Karlsberg Beverages are planning a purchasing cooperation
WARSTEIN/HOMBURG – In view of the rising costs of raw materials, packaging and energy, the beverage manufacturers Warsteiner and Karlsberg are looking to close ranks. The Karlsberg Beverages Association and the Warsteiner Group want to set up a new independent purchasing company, as the two family companies announced on request. The new company will be based near Frankfurt am Main and will be open to other beverage manufacturers and bottlers in the near future. The cartel authorities still need the green light for the project. Several media reported on the planned purchasing cooperation.
Eviction of lignite village Lützerath probably in January – Left supports protests
LÜTZERATH/DÜSSELDORF – According to police plans, the lignite village of Lützerath, which is occupied by activists, is to be cleared at the beginning of next year. “The eviction will probably take place in January,” said a spokesman for the Ministry of the Interior in Düsseldorf on Saturday. Specifically, a decision will be made if there is a request for enforcement from the municipality. The “Spiegel” had previously reported about it.
Real estate group Adler Group reaches agreement with group of bondholders
LUXEMBOURG – The ailing real estate group Adler Group (ADLER) has reached an agreement with a core group of creditors to adjust the terms of the bonds issued by Adler. Convertible bonds were an exception, the company announced on Friday evening. To this end, the real estate group has agreed to provide secured external financing with a volume of EUR 937.5 million. The loan has a final interest rate of 12.5 percent and a term until June 30, 2025. It is intended to refinance financial liabilities of the Group and its subsidiaries, including Adler Real Estate and Consus Real Estate. The price of the Adler Group share increased significantly in the after-hours trading.
IG Metall calls on Vestas workers to go on strike again
HAMBURG – IG Metall has again called on workers at wind turbine manufacturer Vestas (Vestas Wind Systems AS) to walk out on Monday. The strike is expected to last from Monday to Friday. “We’re increasing the pressure,” said IG Metall negotiator Martin Bitter on Sunday. Topics such as regular wage increases, special payments or partial retirement should be part of sustainable working conditions.
SPD leader Klingbeil demands defense industry for capacity building
BERLIN – In view of a lack of equipment armed forces SPD leader Lars Klingbeil called on the German armaments industry to quickly build up production capacities. Overall, the misconception that there are large cupboards somewhere with personal equipment for soldiers or tanks must be dispelled. “Everything has to be produced,” said Klingbeil on Sunday evening in the ARD program “Report from Berlin”.
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Additional Reports
– ATMs will soon need better protection against explosions
State Secretary urges earlier exit from coal in East Germany
-No more advertising for Qatar on London buses and trains
-Strike on Austria’s railways – long-distance travel also affected
-ROUNDUP: Trade fair ‘Comic Con Stuttgart’ attracts around 33,000 visitors°
Customer note:
ROUNDUP: You read a summary in the company overview. There are several reports on the dpa-AFX news service on this subject.
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