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Bosch flags further cost cuts after giving 'subdued' outlook for 2024

UPDATE 1-Bosch flags further cost cuts after giving 'subdued' outlook for 2024 Adds comments on M&A, China, India in 5-8 paragraphs FRANKFURT, April 18 (Reuters) - Bosch ROBG.UL , the world's largest automotive supplier, on Thursday warned of further cost cuts and staff reductions, forecasting stagnating vehicle production that will keep a lid on profit margins in 2024. "For 2024, we aren't expecting any economic tailwind," Chief Financial Officer Markus Forschner said at the group's annual pres
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Bosch flags further cost cuts after giving 'subdued' outlook for 2024

Bosch flags further cost cuts after giving 'subdued' outlook for 2024 FRANKFURT, April 18 (Reuters) - Bosch ROBG.UL , the world's largest automotive supplier, on Thursday warned of further cost cuts and staff reductions, forecasting stagnating vehicle production that will keep a lid on profit margins in 2024. "For 2024, we aren't expecting any economic tailwind," Chief Financial Officer Markus Forschner said at the group's annual press conference.
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Continental slumps after Q1 misses low expectations

BUZZ-Continental slumps after Q1 misses low expectations ** Continental CONG.DE shares fall 4.7% in early Frankfurt trade after the German automotive supplier published Q1 revenue and profit margin below expectations ** "Expectations were low, but not this low," Jefferies says ** "A slow start of the year," J.P Morgan ("overweight") echoes ** Q1 sa
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Continental first-quarter sales and profit margin below market expectations

UPDATE 1-Continental first-quarter sales and profit margin below market expectations Q1 sales 9.8 bln eur vs 10 bln analyst consensus Q1 adj EBIT margin 2% vs 3.7% consensus Frankfurt-listed shares -5% Adds details on results, shares in paragraphs 4-6 FRANKFURT, April 16 (Reuters) - German automotive supplier Continental's CONG.DE revenue and profit margin were lower than market expectations during the first quarter, it said on Tuesday, citing labour costs and continuing price negotiations with
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Continental first-quarter sales and profit margin below market expectations

Continental first-quarter sales and profit margin below market expectations April 16 (Reuters) - German automotive supplier Continental's CONG.DE revenue and profit margin were lower than market expectations during the first quarter, it said on Tuesday, citing labour costs and continuing price negotiations with customers. In an unscheduled statement, Continental said first-quarter sales amounted to 9.8 billion euros ($10.41 billion), below an analyst consensus of 10 billion euros, with an adjust
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