* CAR SALES IN H1 IN EUROPE ALMOST 2 MILLION LOWER THAN H1 2019 EU new registrations for cars in June + 10.4% yoy to 1.048 million
Richemont Q1 sales beat expectations, Q1 SALES CONST. FX + 129%, ADUL. + 112.1%
EMS-CHEMIE H1 NET SALES CHF 1.17 BILLION, EXP. CHF 1.13 BILLION
UMA RAISES OUTLOOK FOR 2021, PRELIMINARY Q2 SALES € 1.59 BILLION,
Adult € 1.44 billion German liability insurer reports data theft by hackers
AFRICAN SWINE FED ON TWO GERMAN FARMS
The lubricant manufacturer Fuchs Petrolub has come through the Corona crisis well so far, but the rising raw material prices are causing concern for the Mannheimers. CFO Dagmar Steinert expects “significant effects on profitability”, at least temporarily, and also refers to the volatility in the supply chains. The increase in sales prices only takes effect with a time lag. For the second and third quarters, lower margins are to be expected than at the beginning of the year, when a return of over 10 percent was achieved after taxes. “The current supply chain problem in particular has shown once again that it is good to produce locally,” emphasizes CEO Stefan Fuchs. (Stock exchanges newspaper)
Deutsche Bank has expanded its in-house investigation to include the sale of complex financial instruments to customers in Spain who suffered losses as a result. At the beginning of the investigation (“Project Teal”) it was said that a limited number of customers were affected, now 50 to 100 potential cases are being examined carefully. The bank confirmed that there was an investigation, but did not want to comment on individual cases. (Financial Times)
N26 – The Berlin smartphone bank N26 is facing a new round of financing. The financial start-up (Fintech) is in talks with investors and strives to collect several hundred million dollars, it is said in financial circles. The valuation would rise from the current $ 3.6 billion to $ 8-11 billion. The Bloomberg news agency had first reported on the planned financing round. N26 did not want to comment on this. (Handelsblatt)
REVOLUT – The digital bank Revolut, founded six years ago, has been valued by investors in a new financing round with 33 billion dollars (27.9 billion euros). It is ahead of the market value of major European traditional banks such as the Royal Bank of Scotland, now the Natwest Group (equivalent to 27.7 billion euros) or Deutsche Bank (21.4 billion euros). The rating of the British start-up has thus increased fivefold compared to a financing round in 2020. (FAZ / Börsen-Zeitung)
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