ROUNDUP 2: LEG Immobilien makes billion-euro loss - dividend nevertheless planned

DÜSSELDORF - The real estate group LEG, like the entire industry, continues to struggle with the significant rise in interest rates. The company therefore wants to reduce its debt by selling real estate. However, the environment for this remains difficult. The company has therefore devalued its portfolio. The bottom line was therefore a loss of billions in 2023. In contrast, day-to-day business fared better thanks to strong demand for residential space. The Management Board also intends to pay a surprisingly high dividend for 2023. The company confirmed its targets for the current year. The share price rose by more than five percent in the afternoon.

ROUNDUP: GDL strike round six - industrial action also at Lufthansa

BERLIN (dpa-AFX) - Just a few days after the latest strike at Deutsche Bahn, the next strike by the train drivers' union GDL is scheduled for this Tuesday from 2.00 am. Once again, there will be far-reaching restrictions on long-distance and regional services for 24 hours. At the same time, the cabin crew union Cockpit has called on Lufthansa flight attendants to take industrial action on Tuesday and Wednesday. The airline assumed on Monday that a total of 1,000 flights would be canceled in Frankfurt and Munich on the two days: 600 in Frankfurt and 400 in Munich. According to a Lufthansa spokesperson, a total of around 120,000 passengers will be affected.

Conti CFO to retire at the end of 2024

HANNOVER - The automotive supplier Continental is losing its CFO. Katja Garcia Vila has informed the Supervisory Board that she will not be available for a further contract extension, the company announced on Monday. Her contract will therefore expire at the end of the year. The reason for this is her own career planning. She will continue to fulfill the role until a successor is found.

Lufthansa expects 1000 flights to be canceled due to flight attendant strikes

FRANKFURT - The strike by Lufthansa flight attendants will force tens of thousands of passengers to reschedule this Tuesday and Wednesday (March 12/13). The airline assumed on Monday that a total of 1000 flights will be canceled in Frankfurt and Munich on the two days: 600 in Frankfurt and 400 in Munich. According to a Lufthansa spokesperson, a total of around 120,000 passengers will be affected: 70,000 in Frankfurt and 50,000 in Munich.

First goal since return: Sancho gives BVB courage

BREMEN - Jadon Sancho didn't want to talk after his first goal since returning to Borussia Dortmund. Instead, others spoke about the Manchester United loanee - and were full of praise. "He was rewarded for all his work today," said Dortmund's sporting director Sebastian Kehl after the Black & Yellows' 2:1 (2:0) win at Werder Bremen on Saturday evening.

Bayer makes progress with alternative to weedkiller glyphosate

LEVERKUSEN/FRANKFURT - The pharmaceutical and agrochemical company Bayer is making progress in the development of an alternative to the controversial weedkiller glyphosate. "We are already testing this new substance on real plants," CEO Bill Anderson told the Frankfurter Allgemeine Sonntagszeitung (F.A.S.). "Our goal is to launch the new product on the market in 2028, i.e. in four years' time." According to Anderson, this is the first ground-breaking innovation in this field for 30 years.

ROUNDUP: Justice Department investigates after near-accident with Boeing

WASHINGTON/SEATTLE - Following the near-accident involving a Boeing 737-8 Max in early January, the US Department of Justice has also launched an investigation. The airline involved, Alaska Airlines, announced on Saturday that it is cooperating with the investigation and does not believe it is being targeted. In a situation like this, it is normal for the Department of Justice to get involved. The Wall Street Journal previously reported that investigators had contacted passengers and interviewed pilots and flight attendants.

ROUNDUP 2: Production at Tesla could restart earlier than expected

GRÜNHEIDE - Following the attack on the power supply at car manufacturer Tesla in Grünheide near Berlin, the repair work was completed much earlier than previously assumed. "Due to the extraordinarily rapid assembly work and the excellent cooperation of all companies involved in the construction, there is now a chance that the Gigafactory and the logistics center will be supplied again ahead of schedule in the evening hours of tomorrow Monday," the responsible grid operator Edis announced on Sunday evening. The result of a high-voltage measurement, which is to be carried out this Monday, is decisive for the resupply.


Further news

-'Technical problem' at Boeing - 50 injured on flight to Auckland

-Heinold optimistic for wage negotiations with Marburger Bund

-ROUNDUP/First time 'right to fast internet' used: Authorities intervene

-ROUNDUP: European arms imports almost doubled due to Ukraine war

-OpenAI boss Altman back on the board of directors

Test plant for more climate-friendly steel production planned

-Car suppliers find it harder to get money from banks

-Apple allows developer account of 'Fortnite' company Epic again

-Container shipping in the Red Sea declining due to Middle East conflict

-Unlimited strike at Ford suppliers in Saarlouis continues

-German electrical industry with decline in orders at the start of the year

-Four-day week at Knaus Tabbert

-Federal government: We will not interfere in the rail wage dispute

Railroads set up emergency timetable for long-distance services after strike announcement

-ROUNDUP 2: Generation change at Otto - Michael Otto to hand over leadership in 2026

-ROUNDUP: Seaports feel the effects of weak foreign trade

-Renewables cover almost 75 percent of electricity consumption in North and East°

Customer note:

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