News Update – July 19 2024

Welcome to the Business News Update, your go-to source for the
latest insights and updates from the German market. Our
professional and concise podcast delivers the most recent economic
news, stock market trends, and innovative developments in the
business world. Perfect for business enthusiasts and professionals,
each episode provides valuable information to help you stay
informed and ahead of the curve. Tune in for expert analysis and
comprehensive coverage of the news that matters most to you.

Transscript

Welcome to the infobrokerworld News Update, where we bring you the
latest insights from the German market…..

Today is July 19th 2024.

My Name is Ray Cooks the AI voice of the infobrokerworld Audio
Line.….

and here are today's top stories.

First up, it's Friday and all eyes are on the stock market.
Investors are watching the producer price index in Germany, which
is expected to show a slight increase today. Over in the UK, key
economic data is also being released, adding to the
anticipation.

In corporate news, Demire AG is facing a critical situation. Four
of its subsidiaries are on the brink of insolvency. The company has
until Monday to secure a loan extension, or these subsidiaries
could go under.

Speaking of insolvency, Preos AG, a company specializing in office
real estate, has declared bankruptcy. The collapse is attributed to
a dispute over a 250 million euro bond, marking a significant event
in the real estate sector.

In the telecommunications industry, there's a buzz as a top
executive from Telekom has made a surprising move to Vodafone. This
switch has certainly caused a stir and is likely to have ripple
effects across the industry.

Turning to the future of transportation, Lilium has secured a major
order from the airline Saudia. They've agreed to purchase up to 100
air taxis, a deal that could propel Lilium into large-scale
production, although they still face significant financial
challenges.

Finally, in the auto industry, high discounts on new cars in
Germany are threatening the sector. Dealers are slashing prices to
boost sales, but this is eroding profits and could lead to a wave
of closures.

That's today's business update. Thanks for tuning in to Business
Insights. See you next time!