• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Experts give positive update on Thyssenkrupp steel, reports Spiegel

by November 24, 2024
written by November 24, 2024

BERLIN (Reuters) – Independent (LON:IOG) experts looking into the financial needs of Thyssenkrupp (ETR:TKAG)’s steel business have taken a positive view on its ability to continue as a going concern, Germany’s Der Spiegel magazine reported on Sunday.

Citing informed sources, Der Spiegel reported that the steel business has financial security for at least for two years.

There was no immediate comment from the company when contacted by Reuters.

In September, Thyssenkrupp commissioned two external reports to take a deep look at the steel business’s short- and long-term financial health and needs.

Earlier this month, Thyssenkrupp said it had written down the value of its steel division by another 1 billion euros ($1.04 billion), blaming the sector’s worsening outlook mainly on weak demand and Asian competition.

Thyssenkrupp is pursuing a steel joint venture with Czech billionaire Daniel Kretinsky but is seeking talks with other steelmakers in case that falls though after previous attempts to sell the division have failed in recent years.

($1 = 0.9600 euros)

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
5 big analyst AI moves: Nvidia earnings good for TSMC, Apple gets new bull-case PT
next post
US SEC issues summons for India’s Adani, nephew on bribery allegations

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 5, 2025
    • This California startup is cleaning water and removing CO₂ from the atmosphere — all at a reduced cost

      June 5, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (504)
    • Stock (6,426)

    Latest News

    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

    Popular News

    • OpenAI aims to attract more investment by removing ‘AGI’ clause with Microsoft, FT reports
    • Judge aims to rule on Elon Musk’s $56 billion Tesla pay by year end

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy