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Late Brief – Companies and Markets -2- | 12/16/21

Automobile supplier ZF Friedrichshafen entered into a strategic partnership with Swiss Embotech AG and as part of this acquired a 25 percent stake in the developer of self-driving vehicle software. ZF will have a seat on the Embotech Board of Directors. Financial details not provided.

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Back chairs on the board of ING Germany: As announced by the subsidiary of major Dutch bank ING Groep, Eddy Henning will take over the business of Joachim von Schorlemer clients on January 1 at the Executive Committee. He will in turn become interim chief operating officer after COO Zeljko Koren announced that he will leave the bank at the end of the year.


International Consolidated Airlines Group (IAG) has acquired Air Europa. IAG terminated the Spanish airline deal agreed in November 2019. In addition to a contractual fine of €40 million, IAG will pay the parent company of Air Europa Globalia Corporacion Empresarial SA €35 million.


In the future, freight company AP Moeller-Maersk will take care of freight services for consumer goods manufacturer Unilever. As announced by Maersk, it has signed a supply chain management partnership for international shipping with Unilever. The partnership begins in 2022 and is designed for a period of four years.


Consulting firm Accenture performed better than expected in the first quarter of the fiscal year and raised its expectations for the entire fiscal year. As announced by Accenture plc, last quarter profits were $1.79 billion after $1.5 billion in the same period last year. That equates to $2.78 per share, down from $2.32 a year ago.

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US software maker Adobe did more in the fourth fiscal quarter, but ultimately made less profit due to negative tax impacts. In the fourth quarter through December 3, Adobe Inc reported an increase in revenue to 4.11 from $3.42 billion a year earlier. Analysts had assumed an average of $4.09 billion. Net income fell to $1.23 from $2.25 billion.


He ended litigation with former CEO Steve Easterbrook over his dismissal. As announced by the company, Easterbrook has agreed to pay the compensation components with a current value of more than US$105 million. The agreement also includes an apology from the former CEO.


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(end) Dow Jones Newswires

December 16, 2021, 12:35 a.m. ET (17:35 GMT)