Stock news: BASF - Keeps sails in the wind

Sentiment toward Germany as a business location has deteriorated significantly among major industrial companies in recent months. The sharp increase in energy and material costs, followed by high wage settlements, are putting pressure on operating margins. BASF is one of the most energy-intensive conglomerates in the country. Management is reluctantly responding with cost-cutting measures that call entire locations into question and mean a significant reduction in the number of employees. It is not only the worsening economic situation that is responsible but, above all, the anti-industry policies from Berlin and Brussels. Managers are therefore turning their attention to much cheaper foreign markets and investing many billions there. Here is an update from yesterday's Annual General Meeting.

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