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Karim Menn has departed from Commerzbank's CVC unit after nearly five years to take on a principal role at Wunderland Capital, a newly established German B2B technology VC firm. During his tenure at Neosfer, he advanced from manager to senior manager, overseeing investments in fintech, B2B SaaS, and climate tech startups, including significant funding rounds for Beatvest and Terra One. Prior to Neosfer, Menn worked at BearingPoint, focusing on digital strategy and venture consulting.
UniCredit has secured approvals from the European Central Bank and the Bank of Italy to acquire Banco BPM, enabling direct control over the bank and its affiliates. The €14bn all-share bid, launched in November 2024, aims to strengthen UniCredit's competitive position in Italy's recovering banking sector. The final step awaits the Italian securities regulator's review of the offer document submitted on December 13, 2024.
European banks, including UniCredit and Commerzbank, assert their readiness to finance the defence sector, countering claims of structural barriers. They emphasize the need for government clarity on defence spending to enhance access to finance for smaller companies, while acknowledging challenges posed by ESG concerns. As competition with US banks intensifies, European lenders aim to support local defence players and adapt to emerging technologies in the industry.
Barclays has lowered its price target for Dow Inc. to $38 from $44 while maintaining an equal-weight rating. Dow specializes in manufacturing and marketing a range of products, with net sales primarily from basic plastics (50.7%), elaborate plastics (27.6%), and performance chemicals (20%). Geographically, sales are distributed across the U.S. and Canada (38.2%), Europe/Middle East/Africa/India (32.5%), Asia/Pacific (17.9%), and Latin America (11.4%).
Barclays has lowered its price target for LyondellBasell Industries to $72 from $80 while maintaining an equal-weight rating. LyondellBasell, a leading global chemical group, generates net sales primarily from olefins and polyolefins (40.8%), intermediate chemical products (26.5%), and refining activities (22.3%), with a significant presence in the U.S. market (48.7%). The company operates 32 production sites worldwide.
Raiffeisen Waren-Zentrale Rhein-Main AG (RWZ) reported a profit for the 2024 financial year, with turnover at approximately EUR 2.9 billion and an EBIT of EUR 21 million, despite challenges. CEO Christoph Kempkes noted that while results were not record-breaking, the company remains on track with a clear strategy. Looking ahead, expectations for 2025 are tempered due to ongoing market uncertainties, with a proposed dividend of 50 cents per share to be voted on at the upcoming Annual General Meeting.
Barclays has maintained an equal weight rating for Bayer, setting a price target of 22 euros ahead of the company's Q1 earnings report. Despite ongoing litigation and a slight dip in Crop Science revenue projections, analysts express confidence in Bayer's cash flow and strategic plans, with expected sales of 13.53 billion euros and EPS of 2.30 euros, slightly below Bloomberg's consensus estimates. Bayer's resilience amid legal challenges highlights its adaptability and commitment to maintaining guidance, reassuring investors about potential market volatility.
Sergio Ermotti, CEO of UBS, topped the list of highest-paid CEOs among European banks in 2024, earning 14.9 million Swiss francs. UniCredit's Andrea Orcel received the largest raise, bringing his total to 13.2 million euros, while Deutsche Bank's Christian Sewing followed with 9.8 million euros. Other notable figures include Santander's Hector Grisi at 8.3 million euros and BBVA's Onur Genc at 7.3 million euros, with the lowest compensation reported at 2.6 million euros for Credit Agricole's Philippe Brassac.
Sergio Ermotti, CEO of UBS, topped the list of highest-paid CEOs among Europe's largest banks in 2024, earning 14.9 million Swiss francs. UniCredit's Andrea Orcel followed with a significant raise to 13.2 million euros, while Deutsche Bank's Christian Sewing earned 9.8 million euros. Many banks benefited from rising interest rates, leading to increased profits and higher compensation for executives.
RWG Rheinland eG has inaugurated a new Raiffeisen market in Heiligenhaus, expanding its sales area to 1,400 m², which doubles the previous location. This pilot store emphasizes sustainability with features like a photovoltaic system, green roof, and services including electric car charging stations. RWG operates over 20 locations in the Rhineland and surrounding regions, focusing on agriculture, building materials, energy, and retail.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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