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☆ How Berlin's techno scene came to define the post-wall city and earn UNESCO cultural heritage status — with a little help from Detroit
▼ + stars: | 2024-04-28 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +7 min

Berlin's techno scene was recently added to the UNESCO intangible cultural heritage list in Germany. The impact on Berlin's identity has been so significant that it has now received official recognition, with the city's techno scene recently added to UNESCO's intangible cultural heritage list in Germany. Dimitri HegemannWhen Dimitri Hegemann first entered the space that was to become the original site of Tresor, now one of Berlin's most iconic techno clubs, he was silent. A DJ performing during the Rave The Planet techno parade in Berlin, 2023. Lutz Leichsenring, a board member at the Clubcommission, told BI that the recognition was a "milestone for Berlin techno producers, artists, club operators and event organizers."

Persons: —, Dimitri Hegemann, Hegemann, Jeff Mills, Juan Atkins, Christian Ender, Nathan Rennolds Polish, Jennifer Kucza, Sean Gallup, Berliners, Lutz Leichsenring Organizations: UNESCO, Service, Business, BBC, Reuters, Berlin Locations: Germany, Berlin, Tresor, Detroit, New, —

☆ I raised my son in Germany until he was 6. Now, we're back in the US, and my family is going through reverse culture shock.
▼ + stars: | 2024-04-19 | by ( Liz Humphreys | ) www.businessinsider.com time to read: +6 min

Liz Humphreys moved to Europe with her husband and raised her son in Berlin until he was 6. AdvertisementMy family has been back in New York City for a year and a half, and we're still struck by all the "rules" surrounding kids here. JF GrossenBerlin was affordable for raising a family and had great childcareIn 2012, my husband and I moved to Europe from New York City for work. He also had difficulty adjusting to all of the structure around the school day. In the 2024 Safety Index by Global Residence Index, Berlin ranked 46, while New York City was 107.

Persons: Liz Humphreys, —, Prenzlauer Berg, resignedly, we're, JF Grossen, it's, I've Organizations: Service, JF, London —, Berlin, New Locations: Europe, Berlin, New York, Prenzlauer, playdates, New York City, Amsterdam, London, Germany, Manhattan, Kita, Germnay

☆ Rising temperatures and floods leave cities with hefty bills. Startups are working to help them adapt to climate risks.
▼ + stars: | 2024-03-26 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +10 min

All of this has given rise to climate adaptation, a sector that aims to mitigate against and adapt to the risks associated with climate change. For James Brennan and Navjit Sagoo, two of the scientists behind climate risk analytics startup Climate X, it is imperative that adaption efforts go hand in hand with those working to curb rising temperatures. Indeed, Bank of America analysts predicted the climate adaptation industry would be worth $2 trillion a year by 2026. Climate X made its calculations based on the UN's Intergovernmental Panel on Climate Change's RCP8.5 scenario, which has been deemed to be a "very high" baseline for emissions. Mike Segar/ReutersAll hands on deckThe need for climate adaptation is clear but often overlooked until an extreme weather event occurs, according to Landesman and Chaudhury.

Persons: —, James Brennan, Navjit Sagoo, Abrar Chaudhury, Autarc, Bill Gates, Tucker Landesman, Helge Jørgensen, Mike Segar, Brennan, Sagoo Organizations: Service, Business, Bank of America, Climate, X, Deloitte, University of Oxford's, Business School, New York Times, New, London, Fabian Society, Tech, Breakthrough Energy Ventures, Goldman Sachs, Management, Air, International Institute for Environment, Development Locations: London, New York City, New York, California, Autarc , Massachusetts, Medellin, Colombia, Europe, PitchBook, Mamaroneck, Westchester County , New York, U.S

☆ Fintech Naro wants to take advantage of Europe's ETF boom. Check out the 10-slide pitch deck it used to raise $3 million.
▼ + stars: | 2024-03-14 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Naro, a German fintech startup, has raised $3 million in pre-seed funding. Cologne-based Naro, founded in 2022, wants to take advantage of the boom in exchange-traded funds — or ETF — products in Europe to offer white-label services to various banks, funds, and brokers. Naro's pre-seed funding round was led by Berlin's La Famiglia alongside Discovery Ventures, plus investment from Robin Capital, Angel Invest, and various angels. Funding will go towards expanding the startup's current team of 10 staff as it looks to partner with potential customers looking to build out products within their existing infrastructure. Naro's business plan subsequently changed from its original slides, you can see a version of its pre-seed pitch deck below:

Persons: Chris Püllen, Püllen, Naro's, Berlin's La Organizations: Business, Trade Republic, Discovery Ventures, Robin Capital, Angel Invest, Credit Suisse Locations: Naro, Cologne, Europe, Germany

☆ German warship accidentally opened fire on an American drone, nearly costing the US another Reaper in its Red Sea fight
▼ + stars: | 2024-02-29 | by ( Jake Epstein | Ryan Pickrell | ) www.businessinsider.com time to read: +5 min

A German warship accidentally tried to shoot down a US military combat drone this week. The frigate Hessen targeted the MQ-9 Reaper as it was on a mission around the Red Sea, a US official said. AdvertisementA German warship accidentally targeted an American combat drone that was operating around the Red Sea earlier this week, but a malfunction spared the US from losing another Reaper drone. A missile launches from a US Navy destroyer in the Red Sea earlier this month. Screengrab/US Central Command via XMeanwhile, with this week's engagements — which saw Germany shoot down the two Houthi drones — Berlin joins the US, UK, and France in eliminating deadly threats launched by the rebels.

Persons: —, Boris Pistorius, Sina Schuldt, Aspides, Dwight D Organizations: Service, Berlin's, Airmen, Squadron, Nevada, Air, Bomb, US Air Force, Victoria, US Central Command, Hessen, Getty, Hellfire, Prosperity Guardian, EU, US Navy, Central Command, Eisenhower Carrier Strike Locations: Hessen, American, Sachsen, Germany, Red, Yemen, Russia, France

☆ Opinion: What it means to be born Black in Germany
▼ + stars: | 2024-02-28 | by ( Opinion Josephine Apraku | ) edition.cnn.com time to read: +11 min

It is hard to group Black Germans — sometimes also referred to as Afro-Germans — under one umbrella; there is no one description that encompasses the diversity of Black people here. The same year I was born, a seminal work about Black Germans, “Showing Our Colors: Afro-German Women Speak Out,” was published. I think that these are precisely the times when Black community, Black alliances and Black spaces are so important. In 2020, the Black Student Union at the University of Bremen renamed February “Black Our Story Month,” and has been holding Black History Month events every year since, creating visibility for the complexity of Black experiences. The Black community in Germany celebrated its first Black History Month in 1990.

Persons: Josephine Apraku, I’m, I’ve, ” Josephine Apraku Dahahm Choi It’s, there’s, ” Josephine Apraku, ”, Christian Mang, Audre Lorde, Lorde, Roma, Sinti, — that’s, Steffi Loos, Schwarzer, George Floyd, Black, — Organizations: African Studies, CNN, Berlin CNN, Black, Africa, Free University of Berlin, CDU, Christian Democratic Union, Black Student Union, University of Bremen, ISD, of Black People, White Locations: Berlin, Germany, Black, East Germany, Angola, Ethiopia, Mozambique, German, Ghana, Europe, Territories, Namibia, Rwanda, Burundi, Tanzania, Cameroon, Togo, ” Josephine Apraku Germany, France, Belgium, Great Britain, United States, Tiergarten, Black Germans, Deutschland

☆ Germany's Scholz commits to spending 2% on defense 'in the 2020s, in the 2030s and beyond'
▼ + stars: | 2024-02-17 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

German Chancellor, Olaf Scholz arrives for the weekly federal government cabinet meeting on Oct. 11, 2023 in Berlin, Germany. MUNICH, Germany — German Chancellor Olaf Scholz on Saturday reaffirmed Berlin's commitment to spend 2% of the national gross domestic product (GDP) on defense, this year and over the longer term. "Germany will invest 2% of its GDP on defense in the 2020s, in the 2030s and beyond," Scholz told the Munich Security Conference. It comes as NATO members across Europe have committed to upping their defense spending. Eighteen of the US-led military alliance's 31 members will meet the 2% spending target this year, NATO Secretary-General Jens Stoltenberg said on Wednesday.

Persons: Olaf Scholz, Scholz, Jens Stoltenberg, Stoltenberg, Donald Trump Organizations: Munich Security, Reuters, NATO Locations: Berlin, Germany, MUNICH, Europe, Russia

☆ London lags behind rest of Europe when it comes to 5G network quality, report finds
▼ + stars: | 2024-02-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

London falls far behind other major European cities when it comes to the quality of its 5G connection, according to a report shared with CNBC. According to MedUX, Berlin has the best 5G coverage of any European city overall, according to MedUX, with a 89.6% reach. It is also the best city overall for 5G streaming, with average latency of less than 40 milliseconds. Berlin, Barcelona, and Paris scored the highest among European cities on MedUX's overarching 5G quality benchmark. London, on the other hand, was close to the bottom of the ranking for European 5G networks.

Persons: MedUX, Berlin's, Rafael Galarreta, Galaretta Organizations: CNBC, London, Paris, 5G Locations: Reno, London, Europe, Berlin, Barcelona, Paris, Lisbon, MedUX, Milan, Porto, Munich, Germany

Berlin's Zoo Is Mourning Ingo the Flamingo, Who Died at What's Believed to Be the Age of 75The Berlin Zoo is mourning Ingo the Flamingo, its oldest resident, who died at what is thought to be 75 years of age

Persons: Ingo, Flamingo Locations: Berlin's

It's the kind of obstruction of key policy objectives for which Orbán has become notorious within the European Union. “We are the sand in the machinery, the stick between the spokes, the splinter under the fingernail,” Orbán said in a speech to tens of thousands of supporters in 2021. Now, frustrated EU officials are trying to determine what Orbán seeks to achieve with his obstructionist strategy, and how they might overcome it. But with his veto power, the nationalist leader will have plenty of further opportunities to sow discord within the EU. Widely considered to be Russian President Vladimir Putin’s closest ally in the EU, Orbán has been accused by his critics of promoting Moscow’s interests over those of his EU and NATO allies, and of preparing to lead his country out of the EU entirely.

Persons: —, Viktor Orbán, Orbán, ” Orbán, Donald Tusk, “, ”, Péter Krekó, ” Krekó, “ Orbán, Daniel Freund, Freund, it’s, he's, Donald Trump, Joe Biden, “ He’s, he’s, Krekó, Vladimir Putin’s Organizations: NATO, European Union, EU, Conservative Political, Green, United, U.S, Trump, Germany, Political Locations: BUDAPEST, Hungary, Brussels, Polish, Ukraine, Budapest, Germany, France, Italy, Europe, United States, Washington, Netherlands, Union

☆ Tractors Converge on Berlin for Farmers' Protest
▼ + stars: | 2024-01-14 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

BERLIN (Reuters) - Farmers and their tractors rumbled towards Berlin from every corner of Germany on Sunday ahead of a giant protest demanding a rethink of plans to tax farmers more. But farmers, with the vocal backing of the opposition conservatives and the far-right, say this does not go far enough. "Farmers will die out," said farmer Karl-Wilhelm Kempner on Sunday as he boarded a bus in Cologne heading for the demonstration. Finance Minister Christian Lindner will address the protest and coalition party leaders have invited leaders of the demonstrations for talks. Disruption caused by protests and train strikes last week hurt coalition parties in the polls and propelled the far-right Alternative for Germany party to new heights.

Persons: Chancellor Olaf Scholz's, Karl, Wilhelm Kempner, Christian Lindner, Scholz, We've, Thomas Escritt, Ros Russell Organizations: BERLIN, Farmers, Finance Locations: Berlin, Germany, Berlin's, Cologne

☆ Germany leaps to the defense of Israel at the International Court of Justice, rejects South Africa's accusation of Gaza genocide
▼ + stars: | 2024-01-13 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +4 min

The German government rejected South Africa's genocide allegations against Israel at the ICJ. Germany is set to intervene on Israel's behalf at the international court. "The German government decisively and expressly rejects the accusation of genocide brought against Israel before the International Court of Justice," Hebestreit said. Germany will be allowed to present its own case disputing South Africa's allegation of genocide against Israel, according to reports. The Israeli defense called South Africa's accusations of genocide "baseless, arguing that the stated aim of Israel was the destruction of the Hamas terrorist organization and liberating the hostages that remained imprisoned in Gaza.

Persons: Israel, Israel's, Netanyahu, Olaf Scholz, —, Steffen Hebestreit, Adolf Hitler's Nazi, Hebestreit, Benjamin Netanyahu, Scholz, Adila, Al Jazeera Organizations: ICJ, Service, Hague, International Court of Justice, Federal Government, Genocide, Israel, Getty, Israel's, Minister's Locations: South, Germany, South Africa, Hague's, Israel, Hamas, Be'eri, Gaza

☆ Benko's complex web at Signa - from Chrysler building to Berlin landmark
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +6 min

SIGNA PRIME/PROPERTY PORTFOLIOAccording to Signa, Prime is the group's largest company in its real estate division, valued at around 20.4 billion euros ($22.23 billion). Since 2019 Signa Holding has also been a co-owner of New York's iconic Chrysler Building. TRADING/RETAIL COMPANIESBenko has bundled his trading interests under the divisions Signa Retail and Signa Premium. In Switzerland, Benko's trading investments are bundled into Signa Retail Selection AG, which filed for bankruptcy protection on Wednesday. In 2018, Signa Holding bought around 24% stake in Austrian daily newspapers "Krone" and "Kurier" from Funke media group.

Persons: Lisi Niesner, Rene Benko, Ernst Tanner, Hans Peter Haselsteiner, Torsten Toeller, Arthur Eugster, SIGNA, Signa, Otto Wagner, Benko's, Klaus, Michael Kuehne, Kuehne, Hamburg's, Chirathivat, Benko, Frasers, Kaufhof, Karstadt, Galeria, Alexandra Schwarz, Goerlich, Mattias Inverardi, Victoria Farr, Emma, Rachel More, Elisa Martinuzzi, Tomasz Janowski Organizations: Signa, REUTERS, Chrysler, Bank Austria, Femina, Chrysler Building, . Central Group, Globus, Selfridges, Central Group, Funke, Thomson Locations: Berlin, Germany, New, Britain's Selfridges, Innsbruck, Swiss, Vienna, Hamburg, KaDeWe, Oberpollinger, Munich, Vienna's, Tyrol, Essen, Duesseldorf, London, Switzerland

☆ Signa group's SportScheck retailer to file for insolvency - reports
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

'SportScheck' store is seen closed due to the coronavirus disease (COVID-19) pandemic in Munich, Germany, February 5, 2021. REUTERS/Michaela Rehle/File Photo Acquire Licensing RightsBERLIN, Nov 30 (Reuters) - German sporting goods retailer SportScheck, part of the debt-addled Austrian property empire Signa, will file for insolvency with a court in Munich on Thursday, the DPA news agency and other German media reported. The court was not immediately available for comment and SportScheck was not reachable. Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, making it the biggest casualty so far of a property crash in Europe driven by a sharp rise in interest rates and building costs. Reporting by Matthias Inverardi and Rachel More, editing by Kirsti KnolleOur Standards: The Thomson Reuters Trust Principles.

Persons: Michaela Rehle, SportScheck, Matthias Inverardi, Rachel More, Kirsti Organizations: REUTERS, Rights, Thomson Locations: Munich, Germany, Europe

☆ Scholz, Zelenskiy Discuss Military Support, Push for Peace -Berlin
▼ + stars: | 2023-11-30 | by ( Nov. | At P.M. | ) www.usnews.com time to read: 1 min

BERLIN (Reuters) - German Chancellor Olaf Scholz reiterated Berlin's unwavering support for Ukraine in a telephone call with President Volodymyr Zelenskiy on Thursday, a government spokesperson in Berlin said. The two leaders agreed to continue their exchange, "also with a view towards the global support for a peaceful solution" to the conflict, the spokesperson said in a statement. Zelenskiy, in his nightly video address, said he expressed thanks for assistance in telephone calls with Scholz, British Prime Minister Rishi Sunak and Bulgarian Prime Minister Nikolai Denkov. Our agreements...are all being implemented," Zelenskiy said. (Writing by Rachel More, editing by Thomas Escritt and Ron Popeski)

Persons: Olaf Scholz, Volodymyr Zelenskiy, Zelenskiy, Scholz, Rishi Sunak, Nikolai Denkov, Rachel More, Thomas Escritt, Ron Popeski Organizations: BERLIN, Ukraine, British, Bulgarian Locations: Berlin

☆ German budget hole puts industry at risk, steel sector warns
▼ + stars: | 2023-11-23 | by ( Christoph Steitz | ) www.reuters.com time to read: +3 min

Steel coils are waiting for delivery at the storage and distribution facility of German steel maker ThyssenKrupp in Duisburg, Germany, November 16, 2023. Bernhard Osburg, president of the German steel association and CEO of Thyssenkrupp's (TKAG.DE) steel division, the country's top steelmaker, told reporters that it was vital for Germany to protect its future competitiveness. His comments highlight major uncertainty within Germany's industrial firms, which are already struggling with local economic conditions and are increasingly looking to alternative, more favourable, markets, such as the United States. So he called on Berlin to hold a summit soon with German industry leaders to provide answers on how these investments could be protected, warning of an "utmost pressure to act". Germany's steel sector, which apart from Thyssenkrupp also includes Salzgitter (SZGG.DE), directly employs around 80,000, while around 4 million jobs indirectly depend on it.

Persons: Wolfgang Rattay, Bernhard Osburg, Osburg, Berlin, Chancellor Olaf Scholz's, Christoph Steitz, Miranda Murray Organizations: REUTERS, Thomson Locations: Duisburg, Germany, Berlin, FRANKFURT, United States, decarbonisation, Thyssenkrupp

Steel coils are waiting for delivery at the storage and distribution facility of German steel maker ThyssenKrupp in Duisburg, Germany, November 16, 2023. Scholz's three-way coalition is reeling from a court ruling last week that wiped 60 billion euros ($65 billion) from the budget at a stroke and forced it to freeze most new spending commitments, delaying talks on the 2024 budget. LOSS OF CONFIDENCEGermany's steel sector added its voice to the growing jitters, warning that the court ruling had put a question mark over more than 40 billion euros in planned investments. "I find it correct that the consequences of the constitutional court ruling ... are checked carefully," Scholz told a news conference. Scholz also described this as conceivable, participants at the meeting told Reuters, adding that the court ruling put the coalition into a difficult situation but it could be resolved.

Persons: Wolfgang Rattay, Chancellor Olaf Scholz, Robert Grundke, Bernhard Osburg, Osburg, Berlin, Scholz, Achim Post, Andreas Rinke, Christoph Steitz, Holger Hansen, Rene Wagner, Matthias Williams, Christina Fincher Organizations: REUTERS, Economic Cooperation, Development, Reuters, Scholz's Social Democrats, Thomson Locations: Duisburg, Germany, FRANKFURT, Paris, United States, decarbonisation

☆ Germany slides deeper into budget crisis. Here's what you need to know
▼ + stars: | 2023-11-23 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

Germany didn't get to this point overnight, however — in ways, the roots of the current crisis even predate the pandemic. The government took on emergency debt to try to stem the impact the pandemic had on its budget through a temporary debt brake suspension. And so, the current coalition government decided to re-allocate it to finance policies aimed at climate change and a greener, more sustainable economy. Some observers (and several Green party members), have suggested that the climate crisis is as much of an emergency as the pandemic. But the court's ruling stands, and Germany's budget now has a 60-billion-euro ($65 billion) hole.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Sean Gallup, Germany didn't, fumbling, Jan Techau, Mujtaba Rahman, Jens Larsen Organizations: Finance, Getty, Greens, Free Democratic Party, Eurasia Group Locations: Berlin, Germany

Scholz, who has visited Africa several times since taking office in late 2021, will hold bilateral talks with several African countries on Sunday, before hosting a German-African investment summit at Berlin's Marriott Hotel on Monday morning. African countries have long complained that while Europe talks about investment, China actually provides financing without any moral lecturing. Still, Chinese lending in Africa is in decline, while European interest is rising as it seeks to diversify supply chains. Nearly two thirds of German companies want to expand their business in Africa, according to a study by KPMG and the German-African Business Association. The member countries of the G20 Compact are Morocco, Tunisia, Egypt, Senegal, Guinea, Ivory Coast, Ghana, Togo, Benin, Burkina Faso, Rwanda, Democratic Republic of Congo and Ethiopia.

Persons: jostling, Scholz, Macron, Ursula von der Leyen, Emmanuel Macron, Mark Rutte, Olaf Scholz, Sarah Marsh, Andreas Rinke, Mike Harrison Organizations: Africa, Dutch, African Union, KPMG, African Business Association, Democratic, Thomson Locations: Berlin, Africa, Macron BERLIN, Germany, Berlin's, Europe, United States, Russia, China, Asia, Morocco, Tunisia, Egypt, Senegal, Guinea, Ivory Coast, Ghana, Togo, Benin, Burkina Faso, Rwanda, Democratic Republic of Congo, Ethiopia

And while the local government says Berlin has sufficient space to build over 100,000 apartments, there is no sign the housing crisis gripping the city will ease. But as Europe's largest economy teeters near recession, economists warn that high rents will feed inflation and reduce household consumption. In Berlin, local opposition has frustrated plans to build, while regulation creates a two-tier rental market that is cheap for some long-term tenants and expensive for new renters. Rising property demand saw private companies develop luxury apartments that offered a higher yield - in part, Buch said, because government permissioning for more affordable housing projects was so slow. OPPOSITIONSome building projects have since faced local opposition while a recent attempt to curb rent increases backfired.

Persons: Lisi Niesner, Rolf Buch, Buch, you've, Konstantin Kholodilin, Marwa, Monika Neugebauer, Goldman Sachs, Neugebauer, Gesa Crockford, Martin Pallgen, Anna Hohnrath, Hohnrath, Matthias Inverardi, Matthias Williams, Catherine Evans Organizations: Berlin, REUTERS, Rights, Vonovia, Reuters, DIVISION, International Union of Tenants, European, West, Foreigners, Thomson Locations: Berlin, Germany, San Francisco, California, City, Tempelhof, Valencia, Spain

☆ Colourful Euro 2024 ball to reflect energy of tournament, say organisers
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

[1/5] Soccer Football - Euro 2024 - Organisers Present the Official Match Ball - Maifeld, Berlin, Germany - November 15, 2023 General view of the Euro 2024 match ball 'Fussballliebe' REUTERS/Annegret Hilse Acquire Licensing RightsBERLIN, Nov 15 (Reuters) - Organisers of Euro 2024 on Wednesday unveiled the official ball for the continental tournament next year, with its colourful pattern designed to reflect the energy of the event and with built-in technology to assist in VAR decisions. Organisers said the design, featuring black wing shapes with colourful edges, curves and dots, was a reflection of the tournament's energy. Germany is hosting its first major international football tournament since the 2006 World Cup, which at the time had triggered an unprecedented wave of enthusiasm with large fan zones across the country and the event dubbed the "summer fairytale". Illustrations of each of the stadiums appear on the ball alongside the name of each host city. The ball also features some built-in technology to track all elements of its the movement and help with VAR decisions.

Persons: Annegret, Philipp Lahm, Manuel Neuer, Karolos, Christian Radnedge Organizations: Soccer Football, REUTERS, Rights, Wednesday, Adidas, Thomson Locations: Berlin, Germany

☆ German government supports Siemens Energy with $8 bln guarantees
▼ + stars: | 2023-11-14 | by ( Christian Kraemer | ) www.reuters.com time to read: +3 min

Miniatures of windmill, solar panel and electric pole are seen in front of Siemens Energy logo in this illustration taken January 17, 2023. Private banks were expected to provide Siemens Energy with guarantees worth 12 billion euros while Siemens Energy would seek another 3 billion from other sources, the statement said, adding it was conditional on the final sign-off of all parties. "We are pleased with the German government's clear support for Siemens Energy and the commitment to the rapid implementation of projects to make the energy transition a success," Siemens Energy said in a statement. Shares in Siemens AG rose 2.7% at 1517 GMT on the deal while Siemens Energy shares were up 0.3%. Siemens AG, which spun off Siemens Energy in 2020, is also expected to provide support by buying most of the 24% stake Siemens Energy owns in Siemens Ltd (SIEM.NS), an Indian joint venture, sources have told Reuters.

Persons: Dado, Marco Buschmann, Buschmann, Christian Kraemer, Alexander Hübner, Christoph Steitz, Linda Pasquini, Madeline Chambers, Matthias Williams, Kirsti Knolle, David Evans Organizations: Siemens Energy, REUTERS, Rights, Siemens AG, Reuters, Siemens Ltd, Siemens, RTL, ntv, Thomson Locations: Indian

☆ Germany pledges to make its military 'the backbone of defence in Europe'
▼ + stars: | 2023-11-09 | by ( Sabine Siebold | ) www.reuters.com time to read: +3 min

REUTERS/Wolfgang Rattay/File... Acquire Licensing Rights Read moreBERLIN, Nov 9 (Reuters) - Germany will strengthen its military to make it the backbone of deterrence and collective defence in Europe, its defence minister pledged on Thursday as Berlin issued new defence policy guidelines for the first time in over a decade. The 19-page document details what the "Zeitenwende" - the major shift of policy German Chancellor Olaf Scholz announced after Russia's invasion of Ukraine in February 2022 - means for the workings of the Bundeswehr. "With the Zeitenwende, Germany becomes a grown up country in terms of security policy," Defence Minister Boris Pistorius said as he presented the guidelines, the first since 2011 when Berlin suspended conscription. "As the most populous and an economically strong country at the heart of Europe, Germany must be the backbone of deterrence and collective defence in Europe," Pistorius said. German forces needed to be refocused on their core mission -the credible defence of Germany and its allies - and be "ready to fight a war", he said.

Persons: Olaf Scholz, Wolfgang Rattay, Boris Pistorius, Pistorius, Sabine Siebold, Toby Chopra, Ed Osmond Organizations: Patriot, Bonn Air Force, Territorial Command, Bundeswehr, REUTERS, Berlin, Thomson Locations: Cologne, Wahn, Germany, BERLIN, Europe, Ukraine, Berlin, prioritise, Lithuania

☆ Napoli stumble to 1-1 draw as eliminated Union snap losing run
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

NAPLES, Italy, Nov 8 (Reuters) - Union Berlin's David Fofana scored a second-half equaliser against the run of play to snatch a 1-1 Champions League draw at Napoli on Wednesday and snap a 12-game losing run, but it was not enough to keep the German side's knockout hopes alive. The draw left Napoli in second place in Group C on seven points, two behind leaders Real Madrid who face Braga, on three points, later on Wednesday. "This feels really good," said Union captain Christopher Trimmel. They did break the deadlock before halftime when a deflected shot bounced off Politano's chest and into the goal. Napoli had 18 corners to the Germans' five but despite late pressure and a string of chances they failed to score again.

Persons: David Fofana, Matteo Politano, Fofana, Braga, Christopher Trimmel, Frederik Ronnow, Piotr Zielinski, Andre Frank Zambo, Josip Juranovic's, Napoli, Karolos, Toby Davis Organizations: League, Napoli, Wednesday, Real Madrid, Champions League, Europa League, Union, Napoli napping, Thomson Locations: NAPLES, Italy, German, Germans

☆ Germany approves stakes by Bosch, Infineon and NXP in TSMC chip plant
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +1 min

Taiwan Semiconductor Manufacturing Company's (TSMC) logo is seen while people attend the opening of the TSMC global R&D center in Hsinchu, Taiwan July 28, 2023. REUTERS/Ann Wang/File Photo Acquire Licensing RightsNov 7 (Reuters) - The German cartel office has approved stakes by Bosch (ROBG.UL), Infineon (IFXGn.DE) and NXP (NXP.N) in TSMC's (2330.TW) new semiconductor plant in the German city of Dresden, the regulator said in a statement on Tuesday. The companies would each acquire 10% of shares in the European Semiconductor Manufacturing Company (ESMC), founded by TSMC, it said. "The recent geopolitical upheavals have shown how important secured access to semiconductors is, especially for the German industry," Andreas Mundt, president of the cartel office, said in a statement. He added that both the European Union and Germany were committed to locating more semiconductor production in Europe and Germany.

Persons: Ann Wang, Andreas Mundt, Linda Pasquini, Rachel More, Matthias Williams Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Bosch, Infineon, European Semiconductor Manufacturing Company, TSMC, European Union, Thomson Locations: Hsinchu, Taiwan, TSMC's, German, Dresden, Germany, Europe, China

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