Thyssenkrupp Steel: Adjustments 'as socially responsible as possible': implement

DÜSSELDORF - Thyssenkrupp CEO Miguel López has reaffirmed the management's intention to take employee interests into account in the planned reduction of steel production capacities in Duisburg. "Our aim is to implement the planned adjustments in the most socially responsible way possible and to avoid compulsory redundancies," he said on Monday evening at an event organized by the Wirtschaftspublizistische Vereinigung in Düsseldorf. "That has always been the case at thyssenkrupp, and it should stay that way."

Circles: Covestro and Adnoc make progress in takeover talks

LONDON - According to insiders, the takeover talks between Adnoc and the plastics group Covestro have recently started to move forward again. The news agency Bloomberg reported on Tuesday, citing people familiar with the matter, that progress had been made with regard to the key points of a possible takeover of the DAX-listed group by the state-owned oil company from the United Arab Emirates. Covestro could soon grant Adnoc an in-depth examination of the books as part of a so-called due diligence. The supervisory board is to discuss this on Wednesday. Covestro shares rose significantly on the news. A Covestro spokesperson did not want to comment on a possible supervisory board meeting when asked.

ROUNDUP: Heidelberger Druck cautious for the year - but Drupa tailwind

HEIDELBERG - Heidelberger Druck is taking a cautious view of the new financial year following a decline in sales and earnings. Revenues in the current financial year (ending March) are expected to remain at the previous year's level of just under 2.4 billion euros, as the company announced in Heidelberg on Tuesday. The Heidelberg-based company assumes that the global economy will not grow more slowly than predicted by the institutes and that the main exchange rates will not change substantially. The share price rose significantly.

ROUNDUP: 'Apple Intelligence' - iPhone company promises helpful AI

CUPERTINO - Apple is going on the offensive with the use of artificial intelligence. The iPhone and other devices are to simplify users' lives with new functions from the fall: Summarize missed emails and text messages, create custom emoji icons, fish out information on demand.

Bayer may accelerate development of a lung cancer drug in China

BERLIN - The pharmaceutical and agrochemical company Bayer can accelerate the development of a potential drug against a certain type of lung cancer in China. The Chinese drug regulatory authority National Medical Products Administration (NMPA) has granted the active substance BAY 2927088 the status of a so-called "Breakthrough Therapy", Bayer announced on Tuesday. This status is intended to accelerate the development and review of new drugs in areas of high unmet medical need.

Eli Lilly scores points in the USA with Alzheimer's drug from advisory panel

WHITE OAK/INDIANAPOLIS - The US drug manufacturer Eli Lilly can continue to hope for approval of its Alzheimer's drug Donanemab in the USA. An advisory panel to the US Food and Drug Administration (FDA) confirmed that the drug is beneficial for patients in the early stages of the disease, the agency announced on Monday. A decision on approval by the FDA is expected towards the end of the year. First, the agency wants to examine how many patients could benefit from the drug and whether the benefits outweigh the risks. Lilly had originally hoped for faster approval, but then the FDA called in an external advisory panel in March. The pharmaceutical company's shares gained 1.5 percent in New York.

ROUNDUP: RAG-Stiftung achieves high surplus despite Signa bankruptcy

ESSEN - The RAG-Stiftung has closed the past year with a surplus of 394 million euros despite a multi-million euro value adjustment due to the Signa insolvency. This is 47 million euros more than in 2022, the foundation announced in Essen on Tuesday. The "annual profit" was allocated to the provision for the so-called perpetual obligations. This rose to 9.1 billion euros.

Postbank with fewer branches and new advisory centers

FRANKFURT - Deutsche Bank wants to partially compensate for branch closures at Postbank with regional advisory centers. In future, private customers will be able to obtain information on financial matters by telephone or video link outside normal branch opening hours and on Saturdays. "We want to significantly change Postbank's market presence for our customers, moving away from a more branch-based model towards a model where the customer can ultimately decide which channels they would like to be served through," said the head of Deutsche Bank's Private Clients Bank Germany, Lars Stoy, to the Deutsche Presse-Agentur in Frankfurt.


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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.