Chip maker TSMC counts on an upswing in the new year - 2023 ends unexpectedly well

HSINCHU - The Taiwanese chip company TSMC has ended a difficult 2023 on an unexpectedly strong note. The final quarter was much better for the important Apple and Nvidia supplier than the previous quarter. With a net profit of just under 239 billion Taiwan dollars (around 7 billion euros) in the three months to the end of December, the world's largest chip contract manufacturer also exceeded analysts' average expectations. Group CEO C. C. Wei expressed his optimism for the coming months when presenting the figures on Thursday.

ROUNDUP/Restructuring in difficult times: Bayer cuts numerous management positions

LEVERKUSEN - As expected, the reorganization of Bayer under CEO Bill Anderson, who has been in office since June, will cost many employees their jobs. Management positions in particular are likely to be affected. As part of the planned streamlining of the administration and the intended acceleration of decision-making processes, there are likely to be considerable job cuts in Germany, the company announced in Leverkusen on Wednesday evening. The Group Board of Management and employee representatives on the Supervisory Board had agreed on principles for the future of the DAX-listed company.

Circles: Bayer turns away from group split for the time being - shares under pressure

LEVERKUSEN - Bayer is probably not planning to split up the Group for the time being. The pharmaceutical and agrochemical group is currently not inclined to push ahead with a separation of the Consumer Health or Crop Science divisions, the Bloomberg news agency reported on Thursday, citing people familiar with the matter. The DAX-listed company also has a pharmaceuticals division. As recently as November, Bayer had kept a three-way split open as an option, i.e. a complete break-up of the Group in a two-stage process.

Boeing receives major order from India for 737 Max jets

HYDERABAD - US aircraft manufacturer Boeing has received a major order from India despite recent safety problems. The Indian airline Akasa Air, which was only launched two years ago, placed a firm order for 150 jets from the 737-Max 8 and Max 10 series, as the company announced at an Indian air show in Hyderabad on Thursday. The order does not include any of the Max 9 aircraft that recently hit the headlines following a near-accident. The aircraft ordered are to be delivered to Akasa by 2032.

EU car market recovers in 2023 - setback for new registrations in December

BRUSSELS - New car registrations in the European Union rose sharply last year. Recently, however, the momentum has slowed noticeably. Compared to the high starting point a year ago, the number of newly registered cars in the EU fell by 3.3 percent to 867,052 in December, as the European industry association Acea announced in Brussels on Thursday. For the year as a whole, 10.5 million cars were registered, 13.9 percent more than a year earlier. In 2022, however, fewer cars were registered than at any time since 1993. One reason was the shortage of parts.

ROUNDUP: Kontron wants to take over Katek - forecast for 2024 raised

LINZ - The Austrian technology group Kontron wants to acquire a majority stake in the German electronics company Katek and is therefore also increasing its targets. Kontron has concluded a purchase agreement for a good 59 percent of the shares in the Munich-based company and will submit a mandatory offer to the remaining shareholders, the Group announced in Linz on Thursday. Completion is expected by March. Kontron's current share buyback program will be terminated. Katek offers control electronics for solar systems and charging technology for electric cars. The Kontron share price rose to a record high.

Richemont grows in the Christmas quarter, especially in the jewelry business

GENEVA - The Swiss luxury goods group Richemont, known for brands such as Cartier and IWC, continued to grow in the Christmas quarter. However, as expected, growth momentum has slowed somewhat. The jewelry business continues to perform well. In the third quarter of the 2023/24 financial year, i.e. from October to December, sales rose by 4 percent to 5.59 billion euros, as Richemont announced on Thursday. In local currencies, sales increased by 8 percent. Analysts had expected an average increase of 6.8 percent.

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Further news

-Bosch plans to cut further jobs - around 1200 jobs affected

-US court allows grace period for Apple's computer watches to expire

-DAVOS/ChatGPT developers: nervousness about AI is understandable

-500 million fund to strengthen battery industry in Europe

-DAVOS: EU Commission calls for protection of elections from AI disinformation

-Billion-euro fine against Intel: EU Commission threatens defeat before ECJ

-Bayer receives approval in Japan for high-dose version of Eylea

-ROUNDUP: New grid fee rules will probably make gas bills slightly more expensive

-Trade labeling adapts to government logo

-ROUNDUP 2: Agricultural diesel dispute overshadows Green Week - New protest threat

-Würth satisfied despite decline in operating result

-Heckler & Koch delivers grenade launchers to Canada and the Baltic states

-Alstom delivers 18 double-decker trains for RE1 Hamburg-Rostock

-IG BAU wants pauchal 500 euros a month more

-Hospitality industry with higher turnover in 2023 - but below pre-corona level in real terms

-ARD, ZDF, Deutschlandradio: Council proposes restructuring of the organization

-Ifo: Companies find it somewhat easier to obtain loans

-A good third more passengers at Prague airport in 2023

-Press: Prices for e-cars fall

-Samsung with AI offensive in the front yard of smartphone rival Apple

-Car expert: China's tech companies will change the e-car market

-Samsung announces networked ring for health data

-ROUNDUP: Samsung with AI offensive in the front yard of smartphone rival Apple

-IWH rejects subsidies for solar industry in Germany

-Connection pipeline for Rügen LNG terminal almost complete

-NGG trade union gains new members in crisis sector

-IPO: Ticket broker and organizer Deag wants to return to the stock exchange

-Farmers' president threatens new protests from Monday

-Head of Swiss public media company resigns early

-Birkenstock expects significant sales growth - new products and markets

-German electrical industry also achieves export growth in 2023

-DFL investor deal: only two candidates left

-Veltins records decline in sales after record years

-Warsteiner parent company increases beer sales

-Lindner defends abolition of tax breaks for farmers°

Customer tip:

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

/jha