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☆ Yet to see signs of Europe recovery in second half of the year, Daimler Truck CEO says
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYet to see signs of Europe recovery in second half of the year, Daimler Truck CEO saysMartin Daum, CEO of Daimler Truck, weighs in on the firm's earnings, breaking down which markets are expected to pick up and which are expected to continue to drag for the rest of the year.

Persons: Martin Daum Organizations: Daimler

☆ Daimler Truck CEO sees cost pressures ahead following bumper earnings
▼ + stars: | 2024-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDaimler Truck CEO sees cost pressures ahead following bumper earningsDaimler Truck CEO Martin Daum said that further cost pressures can be expected in 2024, even after the carmaker posted bumper full-year earnings. He added that share buyback plans highlight the company's "healthy" position.

Persons: Martin Daum Organizations: Daimler

☆ Daimler Truck surges 13% to new record on bumper earnings, buyback announcement
▼ + stars: | 2024-03-01 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

Shares of Daimler Truck hit a fresh all-time high Friday, spiking more than 13.5% in early deals, after posting record full-year profit and announcing a 2 billion euro ($2.16 billion) share buyback program. The German truck maker posted better-than-expected pre-tax earnings of $5.5 billion euros for 2023, up 39% on the previous year's 4.4 billion. Analysts had expected EBIT (earnings before income tax) of 5.2 billion. The company also said it would conduct the buyback program over the course of the coming 24 months and proposed a dividend of 1.9 euros per share for 2023, up from 1.3 euros a year earlier. Daimler's Chairman Martin Daum described 2023 as a record year for the company in a statement, but cautioned that revenue and earnings were likely to be flat in 2024 amid "difficult economic conditions."

Persons: Martin Daum Organizations: Daimler

☆ China doubles down on national security, expanding its state secrets law
▼ + stars: | 2024-02-28 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Edgar Su | ReutersBEIJING — China is beefing up national security measures by expanding its protections of state secrets to include a broad category of "work secrets." The new rules, set to take effect May 1, describe how precautions taken for state secrets should also apply to unclassified information known as work secrets. "There is a risk that individual departments will overzealously identify matters as 'work secrets,'" Daum said. He also founded the website China Law Translate, which published an unofficial English translation of the new rules. Growing national security concernsThe updated state secrets law comes as Beijing and Washington increasingly cite national security risks when announcing new restrictions for business.

Persons: Edgar Su, Xi Jinping, Jeremy Daum, Yale Law School's Paul Tsai, Daum, Jeremy Daum Yale Law School's Paul Tsai, Gabriel Wildau Organizations: of, Initiative, Reuters, Yale Law, Yale Law School's Paul Tsai China Center, China, Jeremy Daum Yale Law, Jeremy Daum Yale Law School's Paul Tsai China Locations: Beijing, China, Reuters BEIJING, Washington

☆ Menachem Daum, 77, Filmmaker Who Explored the World of Hasidim, Dies
▼ + stars: | 2024-01-19 | by ( Joseph Berger | ) www.nytimes.com time to read: +1 min

Menachem Daum, a filmmaker who co-produced a groundbreaking 1997 documentary that illuminated the cloistered world of America’s Hasidim, died on Jan. 7 in a hospital near his home in Borough Park, Brooklyn. She said Mr. Daum had been treated for congestive heart failure. The resulting film offered a complex portrait of a religious group usually depicted as somber and impenetrable; here it offered scenes of Hasidim joyfully dancing. Mr. Daum, though ultra-Orthodox, was not Hasidic himself. And although he had earlier made a film about caregivers for the aged, he was scarcely a seasoned filmmaker.

Persons: Menachem Daum, Hasidim, Eva Fogelman, Daum Locations: Borough Park , Brooklyn, America

☆ Cummins, Daimler, PACCAR form joint venture for US battery cell production
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Fabian Bimmer Acquire Licensing RightsSept 6 (Reuters) - Accelera, a zero-emissions business unit of Cummins (CMI.N), Daimler Trucks & Buses US Holding and PACCAR (PCAR.O) said on Wednesday they formed a joint venture to advance battery cell production in the United States. Daimler Truck, Accelera and PACCAR will each own 30% of the joint venture, which will initially focus on LFP battery technology family for commercial battery-electric trucks. "This planned joint venture enables economies of scale beyond Daimler Truck," said Martin Daum, CEO of Daimler Truck. LFP battery-cell maker EVE Energy (300014.SZ) will also serve as the technology partner in the joint venture with a 10% ownership. LFP battery cells were developed in the United States, but Chinese companies such as BYD (002594.SZ) and CATL (300750.SZ) currently dominate global production.

Persons: Daimler, Fabian Bimmer, Martin Daum, Nathan Gomes, Krishna Chandra Organizations: IAA Transportation, REUTERS, Cummins, Daimler Trucks, Toyota, Ford Motor, Hyundai, Daimler, EVE Energy, Thomson Locations: Hanover, Germany, United States, Bengaluru

☆ Daimler Truck starts search for new CFO after sudden death
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: 1 min

Members of the media stand beside an electric driven Actros truck at the booth of German truckmaker Daimler Truck at the IAA Transportation fair, which will open its doors to the public on September 20, 2022, in Hanover, Germany, September 19, 2022. REUTERS/Fabian BimmerBERLIN, Aug 14 (Reuters) - Daimler Truck (DTGGe.DE) on Monday said that management board chairman Martin Daum would take over as chief financial officer on an interim basis after the sudden death of Jochen Goetz. The company added that the search for a new CFO had been initiated by the supervisory board. Daimler Truck had announced earlier this month that Goetz died suddenly and unexpectedly at the age of 52. Writing by Miranda Murray, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Persons: Daimler, Fabian Bimmer BERLIN, Martin Daum, Jochen Goetz, Goetz, Miranda Murray, Rachel More Organizations: IAA Transportation, REUTERS, Daimler, Daimler Truck, Thomson Locations: Hanover, Germany

☆ US boardroom diversity gains slow as S&P 500 seeks resumes from finance
▼ + stars: | 2023-08-09 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

[1/2] A boardroom is seen at the legal offices of the law firm Polsinelli in New York City, New York, U.S., June 3, 2021. REUTERS/Andrew KellyAug 9 (Reuters) - Boards of S&P 500 companies made recruiting directors with financial expertise their top priority over the past year, slowing boardroom gains for minorities, according to a new report. According to research firm Equilar, just three of 68 financial services CEOs in the S&P 500 are nonwhite. Investors have sought more boardroom diversity as part of a broader U.S. reckoning on race relations. The decline in the share of new minority directors came from a drop in Black or African-American directors.

Persons: Polsinelli, Andrew Kelly, Spencer Stuart, Julie Daum, Spencer Stuart's, Daum, Ross Kerber, Jonathan Oatis Organizations: REUTERS, Investors, Thomson Locations: New York City , New York, U.S

☆ Jochen Goetz, Daimler Truck CFO, dies in 'tragic incident'
▼ + stars: | 2023-08-07 | by ( ) edition.cnn.com time to read: +1 min

Daimler Truck’s chief financial officer Jochen Goetz has died in a “tragic incident,” the company said on Sunday. Goetz, 52, died on Saturday, a statement said, without giving further details. Goetz spent his entire professional career, spanning more than 36 years, in the Daimler Group, and was largely responsible for the successful spin-off of Daimler Truck Holding from what is now the Mercedes-Benz Group in December 2021. “He played a key role in shaping today’s Daimler Truck company and, as CFO, consistently worked to ensure that the company is now more economically successful than ever before,” Chief Executive Martin Daum said. Goetz, who had held his current position since July, 2021, leaves a wife and two children.

Persons: Jochen Goetz, Goetz, “, Martin Daum, Joe Kaeser Organizations: Daimler, Daimler Group, Daimler Truck Holding, Mercedes, Benz Group, Siemens

☆ Daimler Truck CFO Jochen Goetz dies in 'tragic accident'
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO: Daimler AG sign is pictured at the IAA truck show in Hanover, Germany, September 22, 2016. REUTERS/Fabian Bimmer/File Photo/File Photo/File PhotoFRANKFURT, Aug 6 (Reuters) - Daimler Truck's (DTGGe.DE) Chief Financial Officer Jochen Goetz has died in a "tragic accident," the company said on Sunday. Goetz spent his entire professional career, spanning more than 36 years, in the Daimler Group, and was largely responsible for the successful spin-off of Daimler Truck Holding from what is now the Mercedes-Benz Group (MBGn.DE) in December 2021. "He played a key role in shaping today's Daimler Truck company and, as CFO, consistently worked to ensure that the company is now more economically successful than ever before," Chief Executive Martin Daum said. The company statement said Goetz had been distinguished by "his high level of professionalism as well as his positive, hands-on manner".

Persons: Fabian Bimmer, Jochen Goetz, Goetz, Martin Daum, Joe Kaeser, Vera Eckert, Andrew Cawthorne, Barbara Lewis Organizations: Daimler, IAA, REUTERS, Daimler Group, Daimler Truck Holding, Mercedes, Benz Group, Siemens, Thomson Locations: Hanover, Germany

☆ Daimler Truck hits record returns margin amid rising costs
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Aug 1 (Reuters) - Daimler Truck (DTGGe.DE) achieved a second-quarter record adjusted return on sales of 10.3% for its industrial business, the company said on Tuesday, even as it faced rising monthly costs from inflation. Supply chain issues were easing, the truck and busmaker said, with some bottlenecks remaining this year though no major production downtime was expected. The company struggled in the first quarter with supply chain issues for semiconductors, but has maintained that a general improvement in supply chains would lift its profits. Earnings per share in the quarter fell slightly to 1.11 euros compared to 1.12 euros a year earlier. ($1 = 0.9101 euros)Reporting by Ilona Wissenbach, Victoria Waldersee, Writing by Friederike Heine; Editing by Kim Coghill and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: busmaker, Martin Daum, Ilona Wissenbach, Victoria Waldersee, Friederike Heine, Kim Coghill, Bernadette Baum Organizations: Daimler, Thomson Locations: United States, Japan

☆ Daimler Truck CEO: Proud of what we delivered this quarter
▼ + stars: | 2023-08-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDaimler Truck CEO: Proud of what we delivered this quarterDaimler Truck CEO Martin Daum says that, despite a tough business environment, it continues to improve its business structure and its service income has grown significantly.

Persons: Martin Daum Organizations: Daimler

☆ China has a new foreign relations law. Here's what it means for business
▼ + stars: | 2023-07-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Vcg | Visual China Group | Getty ImagesBEIJING — For foreign businesses in China, geopolitics hold more sway than new Chinese laws, according to analysts. Two new laws, one on espionage and the other on foreign relations, took effect July 1. In strictly legal terms, however, the legislative changes themselves don't increase the risk for foreign businesses in China, said Jeremy Daum, senior fellow at Yale Law School's Paul Tsai China Center. The website's translation of the Foreign Relations Law notes that foreign organizations in China "must not endanger China's national security, harm the societal public interest, or undermine societal public order." A House committee delegation discussed China business in their meeting with executives of high-profile U.S. tech and media companies in California in April.

Persons: Jeremy Daum, Yale Law School's Paul Tsai, Antony Blinken's, Michael House, Perkins, Daum, Mintz, It's, Alex Liang Anjie, Michael Hart, he's, Hart, Janet Yellen, Jens Eskelund, Alex Liang Organizations: Visual China, Getty, Yale Law, Yale Law School's Paul Tsai China Center, U.S, China, Foreign Relations, Mintz Group, Bain, Capvision Partners, Reuters, American Chamber of Commerce, Treasury, Companies, EU Chamber of Commerce Locations: BEIJING, China, Beijing, Washington, U.S, Shanghai, California, Broad

☆ AI is essential to develop autonomous driving, Daimler Trucks CEO says
▼ + stars: | 2023-06-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI is essential to develop autonomous driving, Daimler Trucks CEO saysDaimler Trucks CEO Martin Daum says autonomous trucks are years away for the company, but AI will play a pivotal role getting there.

Persons: Martin Daum Organizations: Daimler Trucks

☆ North Korean hackers create fake web portal, South's spy agency says
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +2 min

SEOUL, June 15 (Reuters) - North Korean hackers have set up a fake website that looks almost identical to the popular South Korean web portal Naver, marking a more sophisticated attempt to target users in the South, Seoul's spy agency said. "North Korea's hacking attacks targeting South Koreans are getting more elaborate," the spy agency said in a statement on Wednesday. Naver (035420.KS), which is operated by the tech giant of the same name, is South Korea's most-used web portal and search engine and offers various services ranging from email, news aggregation and online shopping. North Korean hackers have been blamed for cyberattacks netting millions of dollars, though Pyongyang previously has denied being involved in cybercrime. International monitors say stolen money has been pumped into North Korea's sanctioned nuclear and missile programs.

Persons: Seoul's, Daum, Hyunsu Yim, Ed Davies, Lincoln Organizations: National Intelligence Service, United Nations, International, Thomson Locations: SEOUL, Naver, South, Pyongyang, cybercrime, North Korea, Korean

The EU has progressively tightened limits since "Euro 1" in 1992. The Commission's proposal widens real-driving emissions (RDE) testing and adds continuous testing of emissions via an on-board monitoring system. Euro 7 would take effect in mid-2025 for cars and in mid-2027 for trucks and buses. The European Commission estimates Euro 7 could add up to 150 euros to car prices and 2,600 euros for trucks and buses. A Commission spokesperson declined to comment on executives' statements, but said Euro 7's real-driving emissions tests were important because of "scandals in the past about cheating devices".

☆ VW's Skoda would cut 3,000 jobs if 'Euro 7' implemented in current form
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +1 min

PRAGUE, March 19 (Reuters) - Czech carmaker Skoda would have to cut 3,000 jobs and axe some models if the European Union's "Euro 7" emissions scheme is implemented in its current form, a Skoda board member warned in a TV debate on Sunday. Daimler Trucks (DTGGe.DE) chief Martin Daum for instance said on March 10 it would cost the industry "billions". Overall, more than 10,000 jobs would be at risk in the Czech Republic, including at Skoda's suppliers, Jahn said. The three smaller models represented nearly a third of Skoda's deliveries to customers in 2022. Transport ministers from the Czech Republic, Germany, Italy, Poland, Portugal, Romania, Hungary and Slovakia met on Monday to discuss their efforts to change the Euro 7 proposal.

"The amount of energy BEVs need is so enormous that I see a strain on our grid that ultimately it can't fulfill." Daimler Truck will invest up to 15 billion euros ($16 billion) on fuel cells over the next decade, Daum said. Symbio, which supplies fuel cells for Stellantis vans, expects global fuel cell vehicle sales to reach 2 million units annually by 2030 and wants a 10% share. Both General Motors (GM) (GM.N) and Toyota (7203.T) are testing fuel cells for larger vehicles including semi-trucks and trains to build scale and lower costs. While Volkswagen is not currently investing in fuel cells, it has hundreds of patents around the technology.

☆ Some Goldman Sachs partners want to tell the board about their concerns over CEO David Solomon
▼ + stars: | 2023-02-08 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +15 min

A decline in morale at the Wall Street firm concerns some Goldman partners. Here are their concerns about CEO David Solomon, who addressed the partners in Miami. CEO David Solomon addressed Goldman Sachs' partners today at the firm's annual partners meeting in Miami. There's little history for Goldman partners taking their concerns directly to the board. Since then, according to someone who has spoken to investors, more shareholders have questioned how long Solomon can last as Goldman's CEO.

☆ Daimler Truck CEO says output could have been higher by 'five-digit figure' without supply chain problems
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

Martin Daum, head of Daimler Trucks and Buses gestures during the annual results news conference in Stuttgart, Germany, February 11, 2020. REUTERS/Andreas GebertHANNOVER, Germany, Sept 19 (Reuters) - Daimler Truck's (DTGGe.DE) deliveries could have been higher by a "five-digit figure" in 2021 and 2022 if it had not faced supply chain problems, its chief executive Martin Daum told Reuters. Register now for FREE unlimited access to Reuters.com RegisterThe company sold 120,961 units in the second quarter of 2022, up 4% from the same period last year. Daum said Europe, and Germany in particular, was lagging on building battery production, with most still coming from Asia. This could hold back the country's ambitions to build batteries, a highly energy-intensive process, Daum said.

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