Patricia Weiß

Bayer's CEO is facing increasing investor pressure to deliver on turnaround efforts and reverse a forecast earnings decline this year, as the group prepares to release quarterly results on Wednesday.

BASF on Friday predicted slight growth in adjusted operating income of up to 6.9% this year, as it seeks to slash costs in Europe while facing slow global demand and start-up expenses at a new chemical complex in China.

Commerzbank said on Thursday it would cut 3,900 jobs and unveiled more ambitious financial targets as part of a strategy revamp designed to head off UniCredit's advances for a tie-up between the German and Italian lenders.

Commerzbank said on Thursday it would cut 3,900 jobs and unveiled more ambitious financial targets as part of a strategy revamp designed to head off UniCredit's advances for a tie-up between the German and Italian lenders.

German flavour and fragrance maker Symrise on Thursday reported a clear slowdown in its fourth quarter organic growth, missing market expectations, in a sign of sales normalisation after a period of strong growth especially in its scents unit.

Some Bayer investors say CEO Bill Anderson should speed up turnaround efforts, including boosting efficiency and drug development, to restore confidence and revive the company's share price that hit 20-year lows after its shock warning this week.

BASF on Wednesday predicted full-year earnings growth at the lower end of its target range on weaker demand for its chemicals and plastics, making it the latest German industrial heavyweight to come under pressure from the country's weak economy.

BASF plans to prepare its agricultural chemicals business for an initial public offering in the next few years as part of restructuring measures set to be announced by the group this month, Bloomberg News reported on Wednesday.

Covestro expects to give an update on a possible deal with suitor Abu Dhabi National Oil Company (ADNOC) relatively soon, the German chemicals maker said on Tuesday after lowering the upper end of its profit guidance.

Germany's BAVC chemical industry association on Thursday agreed with union IGBCE on staggered wage hikes that will give workers 6.85% higher pay over 20 months.