Basler sells own shares again

AHRENSBURG - Image processing specialist Basler has again strengthened its financial power by selling own shares. On Friday, 500,000 shares were sold for 19.25 euros each, the SDax-listed company announced in Ahrensburg over the weekend. Basler thus raised a total of just under ten million euros gross. The company had last sold its own shares in mid-May, at that time at a unit price of 20.40 euros.

VW truck subsidiary Traton: Euro 7 emissions standard will cost us one billion euros

BERLIN/MUNICH - VW's truck holding company Traton expects the proposed Euro 7 emissions standard to cost billions more. "We are being saddled with enormous costs, roughly estimated at around one billion euros in the group, for investing in a technology that is being phased out, in the event that the law comes in as now planned, even though we are facing a huge transformation," said the head of Traton's MAN brand, Alexander Vlaskamp, in an interview with "Welt am Sonntag" ("WamS"). "The proposed rules on cleaning are so strictly defined that we de facto need more fuel and nitrogen oxides are nevertheless only marginally lowered," the manager said. Instead of the new emissions standard, Vlaskamp called for subsidies for the purchase of new trucks with Euro 6 standards to replace older vehicles.

Rheinmetall boss: Valuation of 17 billion euros realistic

BERLIN - In view of increased demand, the head of defense contractor Rheinmetall expects the company's value to rise significantly in the coming years. "A valuation of 17 billion euros is realistic for Rheinmetall in the medium term," Armin Papperger told Redaktionsnetzwerk Deutschland (Saturday). At the moment, Rheinmetall is valued at just over 10 billion euros on the stock market.

Italian telecom group Tim gets new offers for fixed line division

ROME - Italian telecom group Tim (Telecom Italia) has secured two fresh bids for its network division. Both a consortium of Italy's state-owned receivables bank CDP (Cassa Depositi e Prestiti) and Australian investment bank Macquarie, and U.S. financial investor KKR (Kohlberg Kravis Roberts) have submitted bids, the company said Friday evening in Rome. The company has been looking for a buyer for some time. Previous bids had been rejected by the group as too low, according to information from the Bloomberg news agency. They are said to have been between 19 and 21 billion euros. Major shareholder and media group Vivendi values the division up for sale at around 30 billion euros. Tim wants to reduce its high debt mountain in view of rising interest rates.

Waste disposal giant Remondis grows strongly

LÜNEN - Whether plastic, glass or scrap metals: Germany's largest recycling company Remondis has grown strongly due to increased raw material prices. Sales last year were 12.6 billion euros, around ten percent higher than in 2021, Remondis announced in Lünen near Dortmund in response to a dpa inquiry. Within six years, this was even more than a doubling. One reason for the increase in sales in 2022 is higher prices. These in turn were possible because the non-recycling alternatives were quite expensive. The family business does not disclose its profit. The number of employees increased by about 1000 to 41,000 last year.

Finance minister against higher subsidies for Intel plant in Magdeburg

LONDON - Finance Minister Christian Lindner rejects more aid from the federal budget for Intel's new chip plant in Magdeburg. "There is no more money in the budget," the FDP politician told the Financial Times business paper, according to a report Sunday. He said people are trying to consolidate the federal budget and not let it grow further.

Court bans warning strikes in confectionery industry in nine regions

HAMBURG - The Hamburg Labor Court has banned announced strikes in the confectionery industry in nine collective bargaining regions. An application by the Federal Association of the German Confectionery Industry (BDSI) for a temporary injunction was granted, the court announced on Saturday. In the affected regions, the notice periods under the collective agreement had not yet expired. The affected regions include all of eastern Germany except the western part of Berlin, as well as Baden-Württemberg and Rhineland-Palatinate/Saarland, the president of the labor court, Esko Horn, said.

Media: BVB interested in Wolfsburg's Felix Nmecha

DÜSSELDORF - Bundesliga soccer club Borussia Dortmund is interested in signing midfielder Felix Nmecha from VfL Wolfsburg, according to consistent media reports. Borussia had announced last week that midfield star Jude Bellingham was moving to Real Madrid for a transfer fee of at least 103 million euros. A large part of the transfer sum is to be reinvested in the team to make up for the loss of the England international. According to the "Ruhr Nachrichten", the "Wolfsburger Allgemeine" and the "Bild", Nmecha is said to be one of the candidates of the German vice-champion.

Steag boss: new gas-fired power plants possible at all power plant locations

ESSEN - The energy company Steag considers the construction of new flexibly controllable gas-fired power plants possible at all of its six power plant locations. "We can build such power plants," said Andreas Reichel, chairman of the management board, to the Deutsche Presse-Agentur. He said that all six sites in the Ruhr region and Saarland were basically suitable. Such power plant projects could be realized quickly at two or three locations. Reichel cited as examples the coal-fired power plant in Duisburg-Walsum, the Bergkamen site on the eastern edge of the Ruhr region, and the Quierschied site in Saarland, which already has approval for a gas pipeline.

TV ratings: Five and a half million people watch CL final

BERLIN - Soccer dominated Saturday night on television. 5.56 million viewers tuned in to the Champions League final between Manchester City and Inter Milan (1:0) on ZDF starting at 9 p.m.. That gave the second channel a market share of 26.1 percent and the ratings victory. The preliminary reports from 8:25 p.m. onward were seen by 3.36 million (17.4 percent). However, viewing figures fell well short of the previous year: the 2022 final between Real Madrid and Liverpool FC (1:0) was watched by 8.39 million (34.5 percent) on ZDF.

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-Lauterbach rejects pharmacists' demand: no higher fees

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-Expert expects further warning strike at German Railways

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-Leeds United ownership changes°.

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