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Volkswagen cuts 2024 outlook as car demand falters

UPDATE 3-Volkswagen cuts 2024 outlook as car demand falters Volkswagen now expects profit margin of around 5.6% Outlook cut comes amid tough pay talks with unions BMW, Mercedes-Benz also slashed outlooks in September Adds details, context from paragraph 7 By Christoph Steitz and Christina Amann FRANKFURT/BERLIN, Sept 27 (Reuters) - Volkswagen VOWG_p.DE cut its annual outlook for the second time in less than three months on Friday, citing a weaker-than-expected performance at its passenger car di
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Europe's chemicals rise boosted by Chinese stimulus

BUZZ-Europe's chemicals rise boosted by Chinese stimulus ** European benchmark chemicals index .SX4P is up 2.2%, with German firms leading gains boosted by Chinese stimulus measures announced earlier this week ** BASF BASFn.DE , K+S SDFGn.DE and Wacker Chemie WCHG.DE all rise 5-7% ** Sebastian Bray, analyst at Berenberg, says BASF's shares are also
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Big Technologies, Safran, Volution Group

EUROPE RESEARCH ROUNDUP-Big Technologies, Safran, Volution Group Sept 27 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Big Technologies, Safran and Volution Group on Friday. HIGHLIGHTS * 3I Group III.L : Citigroup raises target price to 4140p from 3850p * Big Technologies Plc BIGB.L : Peel Hunt raises to add from hold * Safran SAF.PA : Jefferies raises target price to EUR 220 from EUR 205 * Solar Foods Oyj SFOODS.HE : Inderes rai
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BASF CFO: We Are Not Talking About Getting Rid Of Agriculture Unit, We Really Like It

BRIEF-BASF CFO: We Are Not Talking About Getting Rid Of Agriculture Unit, We Really Like It Sept 26 (Reuters) - BASF SE BASFn.DE analyst call: CEO SAYS WE HAD ENCOURAGING SUMMER MOMENTUM FOR THE GROUP BUT AUGUST WAS A BIT OF A DISAPPOINTMENT CEO: NO SIGN OF ECONOMIC PICKUP IN EUROPE, WE DON'T SEE SLOWING DOWN IN U.S. CFO: WE ARE NOT TALKING ABOUT G
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BASF to review 16% of production units at its largest complex

BASF to review 16% of production units at its largest complex FRANKFURT, Sept 26 (Reuters) - BASF will put 16% of its 900 production units at its Ludwigshafen site, the world's largest chemical complex run by a single company, under review over the short to medium turn, it said on Thursday. The analysis of the underperforming production installations will focus on their competitiveness, it said in a presentation posted on its website, confirming a Reuters report on Wednesday.
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Bayer Submits Application to US FDA For Third Indication of Darolutamide

BRIEF-Bayer Submits Application to US FDA For Third Indication of Darolutamide Sept 26 (Reuters) - BASF SE BASFn.DE : SUBMITS APPLICATION TO US FDA FOR THIRD INDICATION OF DAROLUTAMIDE SUBMISSION IS BASED ON POSITIVE RESULTS FROM THE PIVOTAL PHASE III ARANOTE TRIAL TRIAL SHOWED DAROLUTAMIDE PLUS ANDROGEN DEPRIVATION THERAPY (ADT) SIGNIFICANTLY REDU
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BASF slashes dividend for next 4 years amid structural overhaul

UPDATE 3-BASF slashes dividend for next 4 years amid structural overhaul Company struggling with weak demand in Europe Proposes cutting dividend to 2.25 from 3.40 euros Plans share buybacks to mitigate dividend cut Confirms potential overhaul of businesses Adds background on CEO from paragraph 3, detail on investment in paragraph 8, share price from paragraph 11, detail on agriculture unit in last paragraph By Ludwig Burger and Patricia Weiss Sept 26 (Reuters) - German chemicals giant BASF BASFn
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BASF lowers 2025 dividend payment to at least 2.25 eur per share

BASF lowers 2025 dividend payment to at least 2.25 eur per share Sept 26 (Reuters) - German chemicals giant BASF BASFn.DE said on Thursday that it will pay a dividend of at least 2.25 euros ($2.51) per share. This compares to an annual dividend proposal of 3.40 euros per share reported in February , as well a 2024 dividend payment of 3.40 euros. BA
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BASF targets partial listing of agriculture division

UPDATE 2-BASF targets partial listing of agriculture division Adds CEO remarks in paragraphs 3 and 9 FRANKFURT, Sept 25 (Reuters) - BASF BASFn.DE is planning a partial listing of its agricultural business because the stock market is underestimating the unit's earnings prospects within the group, the German chemicals giant's new CEO told staff on Wednesday.
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BASF targets partial listing of agriculture division -CEO in staff call

BASF targets partial listing of agriculture division -CEO in staff call FRANKFURT, Sept 25 (Reuters) - BASF BASFn.DE is planning a partial listing of its agricultural business because the stock market is underestimating the unit's earnings prospects, its new CEO told the German chemicals giant's staff in a global call. Markus Kamieth also said that BASF will consider strategic options for the group's coatings business, which mainly caters to the car industry, which could include a potential join
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Volkswagen digs in as workers threaten strikes over plant closures

UPDATE 5-Volkswagen digs in as workers threaten strikes over plant closures Company has said plant closures may be needed in Germany Unions have vowed to fight any such moves German industry struggling with high costs, competition Union threatens strikes from December Recasts with statements after talks By Christina Amann, Christoph Steitz and Matthias Williams HANOVER, Germany, Sept 25 (Reuters) - Volkswagen VOWG_p.DE flatly rejected union demands after the first round of bitterly contested tal
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Volkswagen starts key pay talks with unions in shadow of possible plant closures

Volkswagen starts key pay talks with unions in shadow of possible plant closures Company has said plant closures may be needed in Germany Unions have vowed to fight any such moves German industry struggling with high costs, competition HANOVER, Germany, Sept 25 (Reuters) - Powerful trade unions and executives at Volkswagen VOWG_p.DE will kick off talks over pay on Wednesday that are likely to determine how aggressively Europe's biggest automaker pursues layoffs and potential factory closures in
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TotalEnergies starts Argentina's Fenix field gas production early

UPDATE 2-TotalEnergies starts Argentina's Fenix field gas production early Adds percentage of domestic consumption in paragraph 2; detail on low emissions and executive quote in paragraphs 5-8 By America Hernandez PARIS, Sept 20 (Reuters) - Natural gas production has begun earlier than planned at Argentina's Fenix offshore field, French oil major TotalEnergies said on Friday.
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BASF to prepare agricultural business for IPO, Bloomberg reports

UPDATE 3-BASF to prepare agricultural business for IPO, Bloomberg reports Adds details on new CEO in paragraph 12, on batteries business in paragraph 13 FRANKFURT, Sept 18 (Reuters) - BASF BASFn.DE plans to prepare its agricultural chemicals business for an initial public offering in the next few years as part of restructuring measures set to be announced by the group this month, Bloomberg News reported on Wednesday.
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BASF spikes after report on Agri Chemicals listing plan

BUZZ-BASF spikes after report on Agri Chemicals listing plan ** German chemical company BASF BASFn.DE jumps 5% after a report by Bloomberg says it plans to list its Agri Chemicals business amidst overhaul plans ** Listing would take place in several years, but is set to be announced on its capital markets day later this month ** Shares were trading
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BASF expected to announce listing plans for agri chemicals division, reports Bloomberg

BASF expected to announce listing plans for agri chemicals division, reports Bloomberg BERLIN, Sept 18 (Reuters) - BASF BASFn.DE is expected to announce that it is preparing a listing of its agricultural chemicals division in several years, among other overhaul measures, at its capital markets day later this month, Bloomberg News reported on Wednesday.
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BASF Set To Announce Agri Chemicals Listing Plan In Overhaul- Bloomberg News

BRIEF-BASF Set To Announce Agri Chemicals Listing Plan In Overhaul- Bloomberg News Sept 18 (Reuters) - BASF SET TO ANNOUNCE AGRI CHEMICALS LISTING PLAN IN OVERHAUL- BLOOMBERG NEWS Source https://tinyurl.com/bdedkkj8
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European shares end lower with Fed's big rate verdict in focus

UPDATE 2-European shares end lower with Fed's big rate verdict in focus For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Fed rate decision at 1800 GMT Italy's Campari drops after unexpected CEO exit UK inflation holds at 2.2% in Aug STOXX 600 index down 0.5% Updated at 1600 GMT By Shubham Batra and Shashwat Chauhan Sept 18 (Reuters) - European shares closed lower on Wednesday, as investors refrained from risk-taking ahead of an all-import
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Former Merkel rival Friedrich Merz aims to become German chancellor

NEWSMAKER-Former Merkel rival Friedrich Merz aims to become German chancellor Candidate Merz has no previous government experience Is contrast to Merkel's consensus-driven, pragmatic approach Has stoked immigration debate with populist rhetoric Calls for more market-oriented economy, lower taxes and benefits By Sarah Marsh BERLIN, Sept 17 (Reuters) - Squeezed out of top-level politics by his arch party rival Angela Merkel more than two decades ago, Friedrich Merz is on course to land his first e
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Bayer, others defeat US farmers' chemical price-fixing lawsuit

Bayer, others defeat US farmers' chemical price-fixing lawsuit By Mike Scarcella Sept 16 (Reuters) - A U.S. judge has dismissed a lawsuit accusing agriculture giants Bayer, Corteva, Syngenta and others of conspiring with wholesalers and retail outlets to fix prices for seeds and crop protection chemicals, causing farmers to pay higher prices. St. Louis-based U.S.
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