News Update – June 21st 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 June 21st 2024.

My Name is Ray Cooks the AI voice of the infobrokerworld Audio
Line.….
and here are today's top stories.

Setback for the Energy Transition
Negotiations between Germany and the Netherlands regarding the
acquisition of the German operations of Dutch grid operator Tennet
have failed. This marks a significant setback for the energy
transition and impacts Tennet's financial stability.

Postbank Job Cuts
Deutsche Bank has announced plans to cut around 1,000 jobs at its
subsidiary Postbank. This decision comes after halving the branch
network and is part of ongoing restructuring efforts aimed at
streamlining operations.

Economic Frustration
The chairman of the Federation of German Industries, Siegfried
Russwurm, has voiced significant frustration with current economic
policies. Ahead of the "Day of Industry," he called for a
comprehensive reform package from the federal government to address
these concerns.

Celonis Delays IPO
German start-up Celonis, known for its process mining technology,
has postponed its planned IPO. Despite achieving nearly 40% growth,
the company aims to further stabilize and expand before going
public.

Rheinmetall and KNDS Secure Major Orders
The Bundeswehr has placed substantial orders with defense companies
Rheinmetall and KNDS. These orders include artillery ammunition and
Leopard tanks, reflecting ongoing considerations related to the
Ukraine conflict.

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