Kion Group Withdraws FY Outlook

Kion Group AG (KGX.DE) decided to withdraw the outlook for the fiscal year 2022, due to the ongoing and substantial uncertainties in the procurement markets, which are being significantly exacerbated by the military conflict in eastern Europe as well as by recent Corona-lockdowns.

A new outlook shall be prepared in the course of the year, the company said in a statement.

The Group’s adjusted EBIT in the first quarter of 2022 will be significantly below the prior-year figure of 215 million euros but within the current capital market expectations.

In addition, the KION Group expects non-recurring items in a significant double-digit million euro range in the first quarter of 2022. These non-recurring items relate to possible write-downs of assets used for business conducted with Russia.

The financial key performance indicators for the first quarter of 2022 will be published on April 28, 2022.

Sixt Expects Positive EBT In Q1

Sixt SE (SIXGF.PK) said it expects consolidated earnings before taxes or EBT for the first quarter of 2022 to be between 80 million euros and 95 million euros compared to negative 14 million euros in the previous year.

The Sixt Group’s consolidated revenue for the first quarter of 2022 is expected to be about 580 million euros compared to 330 million euros in the prior year.

In the previous year, the business activities of the company was significantly affected by pandemic-related restrictions on travel, particularly in Europe. An improvement of the business development in the first quarter of 2022 compared to the same quarter of the previous year was already foreseeable before the beginning of the year.

The forecast for the financial year 2022 published in the Annual Report 2021 continues to apply unchanged.

Sixt noted that it will publish the consolidated quarterly statement as of 31 March 2022 as planned on 12 May 2022.

Aareal Bank: Atlantic BidCo Considers Renewed Takeover Offer

Aareal Bank AG (AAALF.PK) Tuesday said that Advent International and Centerbridge Partners are considering a renewed takeover offer after already securing 37 percent of voting rights.

It was informed that the bidder company Atlantic BidCo GmbH has concluded talks with shareholders holding in total around 37 percent of voting rights in Aareal Bank, with a view towards making a potential new takeover offer.

In line with information, an offer price of 33 euros per share is being contemplated. The price is cumulative of the dividend proposal of 1.60 euros per share previously announced by Aareal Bank. The financial investors consider a minimum acceptance level of a maximum of 60 percent for the potential takeover offer.

Aareal Bank shareholders Petrus Advisers, Talomon, Teleios and Vesa have committed to accept the offer for their shares or, respectively, to sell them to the bidder company separately from the offer.

Atlantic BidCo in early February had said that its previous public takeover offer for Aareal Bank was not successful as the minimum acceptance level of 60 percent was not reached.

Following a new successful offer, the shareholders are set to participate partially and indirectly in the BidCo exclusively through non-voting rights. Direct influence by these shareholders on Aareal Bank Group would be ruled out.

The Canada Pension Plan Investment Board would probably be part of that group.

Jimmy Kimmel Mocks Trump’s Endorsement of Sarah Palin

“Trump endorsing Palin is like paste eating endorsing glue sniffing,” Kimmel joked.

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By Trish Bendix

The city of Greeley has been infiltrated by turkeys

GREELEY, Colo. — Turkeys are finally getting their Thanksgiving revenge.

In the city of Greeley, the police department has been posting pictures to social media of dozens of turkeys halting traffic and climbing on top of cars. They even posted a fake wanted sign for a culprit named Turkey Doe.

“I’ve worked for Greeley for three years, and I’ve lived in this area for the last 10. And I don’t ever remember seeing turkeys like this,” said Kent Keller, public information officer for the Greeley Police Department.

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Opinion | Maybe Amazon Shouldn’t Have Dissed Its Own Workers

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By Jamelle Bouie

Opinion Columnist

Gold Dips Ahead Of New Sanctions Against Russia

Gold prices fell slightly on Tuesday, bond yields edged up and the dollar held steady after three straight sessions of gains, as fresh sanctions on Russia loomed.

Expectations of further Fed rate rises also weighed on the precious metal.

Spot gold dipped 0.3 percent to $1,926.66 per ounce, while U.S. gold futures were down 0.3 percent at $1,928.

New U.S. sanctions against Moscow would be announced this week. The 27-member EU is also under pressure to extend sanctions to Russia’s oil and coal sectors for what appear to be war crimes in Ukraine.

In a move meant to ratchet up pressure on Moscow and eat into its holdings of dollars, the United States has stopped the Russian government from paying holders of its sovereign debt more than $600 million from reserves held at U.S. banks.

“Russia must choose between draining remaining valuable dollar reserves or new revenue coming in, or default,” the U.S. spokesperson said.

Treasury yields rose for a third day as investors await the release of FOMC minutes on Wednesday for additional clues on the outlook for rates.