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Osram shares not so bright – economy

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Outside the Frankfurt stock exchange, the bosses of German lighting maker Osram embraced a bull on…

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http://www.euronews.com/2013/07/08/osram-shares-not-so-bright
Outside the Frankfurt stock exchange, the bosses of German lighting maker Osram embraced a bull on Monday for a photo-op connected with its IPO, but the newly floated shares did not behave bullishly.

Eighty percent of the company is being spun off by its owner, engineering group Siemens.

The shares went on sale in the initial public offering at 24 euros each, but – for mostly technical reasons – slipped slightly when they started trading.

However chief executive Wolfgang Dehen was upbeat: “It’s a great market: the market for LED lights is set to grow 20 percent over the next 10 years, so there’s great potential for us. We’ve been in the LED market for 40 years and we are one of the companies that’s had a lot of influence on the market, and we will continue to do so.”

*’Snapshot’*

Osram’s finance chief Klaus Patzak was also unfazed by the price slide saying: “That is just a snapshot, the share price and the valuation will settle over the coming weeks.”

Monday’s share price decline had been on the cards as mutual funds whose investment guidelines limit them to blue-chip stocks in Germany’s DAX index have to sell their stock.

Osram had said last month in its listing prospectus that the listing could be accompanied by “considerable selling pressure”.

US owners of Siemens shares in the form of American Depositary Receipts (ADRs) are also not be able to keep the Osram shares, because the depositary banks are forced to sell the new shares and give the proceeds to the owners.

*Boost to Siemens*

Siemens’ shares rose as investors saw the shedding of loss-making Osram as a positive .

The world’s second-biggest lighting maker is restructuring, cutting 8,000 jobs by next year and closing 10 out of 43 factories.

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Energy boss Birol urges governments to accelerate global electrification at COP31

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Energy boss Birol urges governments to accelerate global electrification at COP31

In an exclusive interview, Fatih Birol urged governments to accelerate the electrification of the global economy, as the COP31 gets underway.

READ MORE : http://www.euronews.com/2026/11/10/energy-boss-birol-urges-governments-to-accelerate-global-electrification-at-cop31

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Who is Alice Huang, the alleged Chinese spy linked to Nvidia’s Jensen Huang?

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Who is Alice Huang, the alleged Chinese spy linked to Nvidia’s Jensen Huang?

Footage shows Nvidia CEO Jensen Huang alongside Alice Huang, a Chinese businesswoman at the centre of an alleged Chinese intelligence operation targeting him.

READ MORE : http://www.euronews.com/2026/11/09/who-is-alice-huang-the-alleged-chinese-spy-linked-to-nvidias-jensen-huang

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Pennies Lane: Paul McCartney becomes third richest musician in the world

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Pennies Lane: Paul McCartney becomes third richest musician in the world

Paul McCartney becomes a billionaire, making him the world’s third-richest musician behind Jay-Z and Taylor Swift.

READ MORE : http://www.euronews.com/2026/11/10/pennies-lane-paul-mccartney-becomes-third-richest-musician-in-the-world

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Czech Republic: Refugee row

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Prague is facing an EU legal suit for refusing to accept asylum seekers under the bloc’s system to relieve other member states hit most by immigration…
READ MORE : http://www.euronews.com/2018/02/23/czech-republic-refugee-row

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Santorini seeks year-round tourism by promoting gastronomy, wine and culture

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Santorini seeks year-round tourism by promoting gastronomy, wine and culture

The popular Aegean island, having first regulated cruise tourism, is now implementing a plan to increase winter arrivals by promoting activities beyond the famous sunset over the Caldera.

READ MORE : http://www.euronews.com/2026/11/11/santorini-seeks-year-round-tourism-by-promoting-gastronomy-wine-and-culture

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