US investment bank Goldman Sachs earns more than expected

NEW YORK - US investment bank Goldman Sachs made a surprisingly high profit in the final quarter of 2023 despite unexpectedly high costs. On balance, the bank reported a profit attributable to shareholders of 1.9 billion US dollars (1.7 billion euros), as it announced in New York on Tuesday. This was a good half more than a year earlier and also more than experts had previously estimated. While interest income fell by a good third and investment banking and business with bonds, currencies and commodities also yielded less, Goldman earned significantly more, particularly in asset management and equity trading. This made up for the five percent increase in total costs. The share price rose by 1.7 percent in the USA, as the Group also performed better than expected in terms of total income.

Morgan Stanley earns less both in the final quarter and for the year as a whole

NEW YORK - The US bank Morgan Stanley's final quarter of 2023 was marred not least by a multi-million payment to the US authorities. The profit attributable to shareholders in the fourth quarter amounted to 1.4 billion US dollars (just under 1.3 billion euros), as the bank announced in New York on Tuesday. This was 35 percent less than in the same period last year. The almost quarter of a billion dollar settlement with the US Attorney General's Office to resolve an investigation into trading practices also had a negative impact. Higher provisions for potential credit risks and the weakening investment and advisory business also weighed on profits for the year as a whole. However, the share price was up a good one percent in US trading.

ROUNDUP 2: Hugo Boss disappoints with operating result in 2023 - share price slide

METZINGEN - Fashion retailer Hugo Boss has set a sales record in 2023 despite the poor consumer sentiment. The fourth quarter was the strongest in the company's history in terms of sales. Hugo Boss gained significant ground at the end of the year, particularly in China. The brand restructuring is bearing fruit. The MDax company has thus reached the upper end of the forecast range for 2023, which had already been raised twice previously. However, the operating result was weaker than generally expected and did not go down well with investors on the stock market. The shares slumped as a result.

ROUNDUP: Drägerwerk expects more moderate growth - significantly higher dividend

LÜBECK - After a significant increase in net sales in 2023, the medical and safety technology group Drägerwerk expects only moderate growth in the current year. In 2023, Drägerwerk benefited from catch-up effects as a result of improved delivery capability and a wave of demand for ventilators in China at the beginning of the year, the Group surprisingly announced in Lübeck on Monday evening. These two effects were absent in the current financial year. The share price turned positive in early Tuesday trading after losses at the start of trading. They recently rose by around two percent.

Market researchers: Apple number one in the smartphone market for the first time in 2023

NEEDHAM - According to market researchers, Apple has finished a year as the world's largest smartphone provider for the first time. With 234.6 million iPhones, the US company displaced Samsung from the top spot in 2023 after more than ten years, as the analysis firm IDC announced on Tuesday night. Samsung sold 226.6 million smartphones.

ROUNDUP: Verbio lowers forecast due to low sales prices - share price slips

LEIPZIG - The biofuel producer Verbio is lowering its expectations for the current financial year. The quota prices for ethanol and greenhouse gas reduction (GHG) remain under pressure, the company announced surprisingly in Leipzig on Monday shortly before the close of trading. As a result, the management now expects higher net debt and lower operating profit than recently. The share price had already slipped the previous evening and fell further on Tuesday.

DocMorris achieves lower sales in 2023 despite final spurt

STECKBORN - The online pharmacy DocMorris achieved lower sales last year. However, sales increased significantly towards the end of the year. Looking ahead, the focus is on e-prescriptions in Germany. Sales fell by 7.4 percent in local currencies to 1.04 billion Swiss francs in 2023, as DocMorris announced on Tuesday. The figures slightly exceeded analysts' expectations. Redare Pharmacy's rival had forecast a decline in sales "in the high single-digit percentage range".

Vodafone and Microsoft agree comprehensive AI partnership

LONDON/REDMOND - The British telecoms group Vodafone and the world's largest software company Microsoft have concluded a far-reaching strategic partnership on artificial intelligence (AI) applications. The agreement will run for ten years, the two companies announced on Tuesday.

Volkswagen overtakes Tesla in the German e-car market

FLENSBURG - Volkswagen overtook Tesla in the German e-car market last year. Around 70,600 pure VW electric cars were newly registered in 2023, according to the Federal Motor Transport Authority (KBA) on Tuesday. This is an increase of 11.7 percent compared to the previous year. At almost 63,700, the number of new registrations of Tesla vehicles was significantly below the previous year's figure (minus 9 percent). This was only enough for second place.

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Further news

-Nordex increases incoming orders - prices stable

-Apple switches off function in new US watches after patent dispute

-Billionaire Kühne's holding company has a new boss

-Investigator: Protest group wanted to disrupt London stock exchange

-Risk barometer: Companies are most afraid of hackers

-Survey: majority want a car under 30,000 euros

-The death of farms in Germany continues at a slower pace - Eco is growing

-Heavy night frost makes ice wine harvest possible in January

-Zambia receives 1.4 million doses of cholera vaccine after outbreak

-Environmental organizations continue to oppose LNG terminal on Rügen

-Better care planned for patients in emergencies in Germany

-Frankfurt airport still far below pre-corona level in 2023

-Ice rain: Munich Airport announces 'significant restrictions'

-Contract of HHLA boss Titzrath extended by five years

-Snow and ice: Frankfurt Airport expects many cancellations

-After farmers' protests: Greens want to limit the power of supermarkets

-Billions in lost sales due to counterfeit goods

-Esa awards contract for new 'Sentinel-2' development to OHB

-Network Agency: Fast mobile radio is needed 'at every milk churn'

-Expansion of onshore wind power has picked up speed in 2023

-ROUNDUP: Fight against overcrowded emergency rooms - Lauterbach's emergency reform

-More organs donated - but figures still too low

-Slaughterhouse operator Vion closes site in Emstek

-More money for employees of most Sparda banks

-Microsoft opens 'Copilot' assistant for consumers

-Diess on the diesel affair: Was sure this was in good hands

-Significantly more new wind turbines built last year

-WHO: Number of tobacco users falling worldwide - Europe a problem child

-Ford plans to mass-produce Koln e-car from June

-Intel on Magdeburg plant: everything is going according to plan

-Demand for 910,000 new social housing units in Germany

-ROUNDUP: Union demands fundamental relief 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