ROUNDUP: Automotive supplier Stabilus lowers annual targets due to lack of recovery

KOBLENZ - The automotive supplier Stabilus continues to struggle with the weak industry situation and is trimming its financial targets for the current fiscal year. While the specialist for trunk gas springs was already somewhat more pessimistic at the beginning of May, management now noticeably cut its outlook on Tuesday evening. This was not well received on the stock market. The share lost around 15 percent of its value in early Wednesday trading. Since the turn of the year, the share price has fallen by more than a fifth.

ROUNDUP 3/Punitive tariff on e-cars: Habeck relies on talks with China

BRUSSELS - German Economics Minister Robert Habeck is focusing on negotiations with China in view of the threat of high EU fines on Chinese e-cars - and is also warning against a "tariff race". "It is crucial that we talk now," said the Green politician on Wednesday on the fringes of an event organized by the CDU Economic Council in Berlin. "Customs duties as a political tool are always only a last resort and often the worst way forward." Federal Transport Minister Volker Wissing (FDP) warned of the consequences of punitive tariffs.

ROUNDUP: SAP rival Oracle exudes confidence for AI business - share price rises

AUSTIN - The US software company Oracle has sparked optimism for future business with high bookings for its programs and partnerships. The SAP rival announced an expansion of its collaboration with technology giant Microsoft and ChatGPT inventor OpenAI on Tuesday evening after the US stock market close in Austin, Texas, which will extend the Windows group's cloud AI platform to Oracle data centers. The search engine giant Google also wants to offer Oracle database technology in its cloud platform. This gave the shares a strong boost.

New Symrise boss wants to drive profitability forward

FRANKFURT - Symrise CEO Jean-Yves Parisot, who has been in office since April, is increasingly focusing on profitability. "It's time for consolidation," said the CEO of the fragrance and flavorings manufacturer in a roundtable discussion with journalists in Frankfurt on Tuesday evening. Parisot's predecessor, Heinz-Jürgen Bertram, had driven growth with numerous acquisitions after taking office in 2009. Investors held Bertram in high esteem. The share price rose by almost 900 percent during his time in office. However, in addition to strong growth, they also demand higher profitability. In other words, more profit should be left over from turnover in future. However, the DAX-listed company is not facing a fundamental change of direction, rather Parisot speaks of "evolution".

ROUNDUP: Bilfinger expects more revenue in 2024 including the Stork acquisition

MANNHEIM - Industrial services provider Bilfinger is raising its revenue target for the current year due to the latest acquisition. Including the acquisition of parts of industrial services provider Stork, the company is now targeting revenue of between €4.8 billion and €5.2 billion in 2024, the MDax company announced on Wednesday ahead of a capital markets day. Previously, the Bilfinger management had targeted 4.5 billion to 4.8 billion euros. The operating result (EBITA margin) is now expected to be 4.8 to 5.2 percent of sales. Previously, the Management Board had expected at least 4.9 percent.

General Motors invests 850 million dollars in robotaxi company Cruise

SAN FRANCISCO - The US car giant General Motors is supporting its robotaxi company Cruise with a financial injection of 850 million dollars. This will buy time to finalize strategic considerations about Cruise's future, GM manager Paul Jacobson said at a conference appearance on Tuesday.

Court awards Uniper the right to billions in damages

DÜSSELDORF - In the dispute between the nationalized energy group Uniper and the Russian natural gas supplier Gazprom over missing gas deliveries, an arbitration court has awarded Uniper more than 13 billion euros in damages. As Uniper also announced in Düsseldorf on Wednesday, the Stockholm-based court also allowed the company to terminate the gas supply contracts.

ROUNDUP: Start of trial for Aurubis fraud involving millions postponed

HAMBURG - The start of the trial for a multi-million fraud at the Hamburg copper producer Aurubis, originally planned for Thursday, has been postponed. The indictment against three men for joint commercial fraud, bribery and corruptibility as well as aiding and abetting them must first be adjusted, a court spokeswoman announced on Wednesday. The background to this is that the regional court only partially followed the indictment in its opening decision.

Reform of postal law: traffic light proposal passes committee

BERLIN - The reform of the outdated Postal Act has cleared another hurdle. On Wednesday, the Bundestag's Economic Affairs Committee adopted a proposal that had previously been agreed by representatives of the traffic light coalition. On Thursday, the plenum is expected to give its approval, and in July, it will be the Bundesrat's turn. If the Upper House also gives the green light, the Postal Act would be fundamentally reformed for the first time since 1998. Back then, letters were far more important than they are today, and online retail and its parcel volumes were still in their infancy.


Further news

-Circles: Investor CD&R with opportunities at Stada - Borsengang not off the table

-Critical shareholders against MSC's investment in HHLA

-Musk drops lawsuit against OpenAI

-Apple: Older iPhones would be too slow for new AI functions

-Musk's X restricts transparency for 'Likes'

-Rheinmetall delivers more than 1500 military trucks to the German Armed Forces°

Customer note:

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