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☆ NATO’s next challenge: How to reverse years of underfunding defense
▼ + stars: | 2024-04-03 | by ( Luke Mcgee | ) edition.cnn.com time to read: +8 min

For over a decade, allies have chronically underspent on defense while the West’s adversaries modernized and bolstered their own military capabilities. Defense spending stayed low across the West not just because of budget pressures, but also because everyone – including the US – was frightened to provoke Russia. However, the nature of NATO allies’ support for Ukraine – much of it direct military support – has exposed the vulnerability that years of underfunding has caused the alliance. Fabian Bimmer/Pool/ReutersThis means that the challenge in front of NATO allies now is not just how can they meet the demand for weapons coming from Ukraine, but how do they reverse years of underfunding their own defenses? Some allies don’t trust that others will be quite so generous with defense spending if the Russia-Ukraine war were to end.

Persons: Vladimir Putin’s, Putin, Volodymyr Zelensky, Murat Kula, ”, ” John Herbst, Antony Blinken, Ulf Kristersson, Andrew Caballero, Reynolds, underfunding, It’s, Herbst, NATO’s, –, Jens Stoltenberg, Olaf Scholz, Fabian Bimmer, Stoltenberg, ” Stoltenberg, Peter Ricketts, Douglas Lute, “ Organizations: CNN, NATO, Turkish, Anadolu Agency, Pentagon, “, Swedish, US State Department, Getty, Ukraine, Rheinmetall, Trump Locations: Soviet, Bosnia, Kosovo, Afghanistan, Iraq, Ukraine, United States, British, Vilnius, Russia, Kyiv, Europe, Germany, AFP, North Korea, Iran, Washington, Unterluess, Baltic, Brussels, Finland, Sweden, NATO

☆ Amazon latest to criticise Microsoft in UK cloud market probe
▼ + stars: | 2023-12-05 | by ( Martin Coulter | ) www.reuters.com time to read: +2 min

REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsLONDON, Dec 5 (Reuters) - Amazon (AMZN.O) has told Britain's antitrust authority its rival Microsoft (MSFT.O) uses business practices that restrict customer choice in the cloud computing market, the second major company to criticise the U.S. tech giant's operations. Britain's Competition and Markets Authority (CMA) launched an investigation into the country’s cloud computing industry in October, following a referral from media regulator Ofcom that highlighted Amazon and Microsoft’s dominance of the market. “To use many of Microsoft’s software products with these other cloud services providers, a customer must purchase a separate license even if they already own the software,” Amazon said. In its own submission to the CMA, Microsoft said Britain's cloud computing market remained competitive. "There are many sources of competition in the cloud market in the UK.

Persons: Fabian Bimmer, Amazon, Martin Coulter, Jane Merriman, Mark Potter Organizations: Microsoft, Hannover Messe, REUTERS, Britain's, Markets Authority, CMA, Ofcom, ”, Reuters, Google, Oracle, IBM, Thomson Locations: Hanover, Germany

☆ Continental prepares for asset sales, tightens 2023 targets
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

The logo of German tyre company Continental, pictured before the company's annual news conference in Hanover, Germany, March 7, 2019. Continental said in November it would cut thousands of jobs in the automotive division worldwide and reduce the number of business areas within the division from six to five. "The automotive business is with us, it stays with us," Setzer said at a media briefing. Its 2023 outlook forecasts an adjusted EBIT margin of 5.5-6.5% on sales of 41 billion to 43 billion euros. It expected an adjusted earnings margin close to 7% at ContiTech, at or above 13% in the tyres division and near 2% in the automotive division, CFO Katja Garcia Vila said.

Persons: Fabian Bimmer, Nikolai Setzer, " Setzer, Katja Garcia Vila, Victoria Waldersee, Matthias Williams, Louise Heavens Organizations: Continental, REUTERS, BERLIN, Thomson Locations: Hanover, Germany, Continental, ContiTech

The inflation rate fell to 2.3% in November. Analysts polled by Reuters had expected inflation to ease to 2.6%. Core inflation, which excludes volatile food and energy prices, fell to 3.8% in November from 4.3% the previous month. "But the inflation rate will fall to below 3% as early as the beginning of next year," Wollmershaeuser said. Economists pay close attention to German inflation data, as Germany publishes its figures one day before the euro zone inflation data release.

Persons: Fabian Bimmer, Timo Wollmershaeuser, Wollmershaeuser, Commerzbank's, Ralph Solveen, Solveen, Bert Colijn, Colijn, Miranda Murray, Maria Martinez, Linda Pasquini, Sharon Singleton, Kirsten Donovan Organizations: REUTERS, Rights, Reuters, Union, European Central Bank, Thomson Locations: Hamburg, Germany, Spanish

View of the construction site of the Elbtower building, owned by Rene Benko’s Signa and a Commerzbank subsidiary, in Hamburg Germany, November 2, 2023. On Friday, Signa Real Estate Management filed for insolvency in a local court in Berlin, according to a court filing. The real estate sector was a bedrock of Germany's economy for years, accounting for roughly a fifth of output and one in 10 jobs. Now a sharp rise in rates has put an end to the run, tipping some developers into insolvency as deals freeze and prices fall. Weakness in commercial real estate in the United States as offices remain empty after the pandemic and the struggles of major property developers in China have focused global attention on the sector.

Persons: Rene Benko’s Signa, Fabian Bimmer, Signa, Elliott, Rene Benko, Switzerland's Julius Baer, Hannes Moesenbacher, Matthias Inverardi, John O'Donnell, Miranda Murray, Sharon Singleton, Mark Potter Organizations: REUTERS, Rights, Elliott Investment Management, Chrysler, Estate Management, Austria's Raiffeisen Bank, Thomson Locations: Hamburg Germany, Austrian, Germany, Austria, Switzerland, Sweden, Berlin, Bavaria, Hesse, Hamburg, Europe's, United States, China

☆ Germany's Kuehne examines offer for Signa's Hamburg skyscraper, Handelsblatt reports
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +1 min

View of the construction site of the Elbtower building, owned by Rene Benko’s Signa and a Commerzbank subsidiary, in Hamburg Germany, November 2, 2023. REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsFRANKFURT, Nov 26 (Reuters) - German logistics entrepreneur Klaus-Michael Kuehne is examining a takeover of Signa Group's abandoned Elbtower high-rise project in his hometown of Hamburg, Handelsblatt reported. Discussions on the takeover by Kuehne are quite advanced, but no decision has been made, German newspaper Handelsblatt reported, citing a source. Signa, owner of New York's Chrysler Building and Britain's Selfridges store, and spokespeople for Kuehne and the city of Hamburg did not respond to requests for comment on Sunday. This led to the insolvency of its subsidiary Signa Real Estate Management Germany on Friday, Spiegel magazine reported.

Persons: Rene Benko’s Signa, Fabian Bimmer, Klaus, Michael Kuehne, Group's, Handelsblatt, Signa, Kuehne und Nagel, Hapag Lloyd, René Benko, Emma, Victoria Farr, Alexander Smith Organizations: REUTERS, Rights, Kuehne, Lufthansa, Chrysler, Real Estate Management, Spiegel, Thomson Locations: Hamburg Germany, Hamburg, Austrian, Real Estate Management Germany, Signa, Germany

A number of companies have recently demanded that antitrust enforcers pay default interest on fines in annulled antitrust cases. Deutsche Telekom challenged the fine at the Luxembourg-based General Court, Europe's second highest, which cut it to 19 million euros in 2018, forcing the EU competition enforcer to repay the difference. Deutsche Telekom returned to the court after the EU competition enforcer refused to pay interest for the period between the payment and the reimbursement and got judges to back its fight. The Commission then appealed to the Luxembourg-based EU Court of Justice (CJEU). The case is C‑221/22 P European Commission v Deutsche Telekom AG.

Persons: Fabian Bimmer, Deutsche, Anthony Michael Collins, refunding, Foo Yun Chee, Kirsten Donovan Organizations: Deutsche Telekom, ITS, REUTERS, Companies Deutsche Telekom AG, Intel, Deutsche, European Commission, EU, Court of Justice, Deutsche Telekom AG, Thomson Locations: Hamburg, Germany, Slovakia, Luxembourg

☆ Germany's lower house of parliament approves Financing for the Future Act
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsBERLIN, Nov 17 (Reuters) - Germany's lower house of parliament on Friday passed the Financing for the Future Act, to promote start-ups and improve access to capital markets. In the future, companies will be allowed to go public with a minimum market capitalization of one million euros instead of the previous 1.25 million. According to earlier statements by the government, the law will lead to annual tax revenue losses of almost one billion euros from 2026. The Future of Financing Act increases the tax allowance for employee share ownership to 2,000 euros from 1,440 euros. The package, called the Growth Opportunities Act, provides for tax relief of around 7 billion euros ($7.6 billion) a year from 2024, and a total of over 32 billion euros until 2028.

Persons: Fabian Bimmer, Christian Lindner, Lennard Oehl, Christian Kraemer, Maria Martinez, William Maclean Organizations: REUTERS, Rights, Global, Germany's, SPD, Thomson Locations: Hamburg, Germany, Silicon Valley

☆ German police raid Iran-linked centre over suspected Hezbollah support
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

[1/2] German police officers walk towards the Islamic Center Hamburg, during a raid, due to suspicion of members acting against a constitutional order and supporting the militant group Hezbollah in Hamburg, Germany, November 16, 2023. REUTERS/Fabian Bimmer Acquire Licensing RightsBERLIN, Nov 16 (Reuters) - German police conducted raids early on Thursday in seven states over the Islamic Centre of Hamburg's suspected support for the militant group Hezbollah, the interior ministry said. "I want to make clear that we are acting against Islamists, not against a religion or another state," said German Interior Minister Nancy Faeser. In Hamburg alone, 300 officers conducted 31 searches in connection with the centre, the city's interior senator said. "The suspicions against the Islamic Centre of Hamburg are serious," and it has long been monitored by the domestic intelligence agency for Islamist activities, said Faeser.

Persons: Fabian Bimmer, Nancy Faeser, Linda Pasquini, Miranda Murray, Madeline Chambers, Edmund Klamann Organizations: Islamic Center, Hezbollah, REUTERS, Rights, Islamic, Authorities, of, Lebanese, Thomson Locations: Islamic Center Hamburg, Hamburg, Germany, Israel, Gaza, Iran, of Hamburg

☆ Euro zone Q3 GDP shrinks, but employment rises
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsBRUSSELS, Nov 14 (Reuters) - The euro zone economy contracted marginally quarter-on-quarter in the third quarter, a new estimate confirmed on Tuesday underlining expectations of a technical recession if the fourth quarter turns out equally weak, but employment still rose. The European Union's statistics office Eurostat confirmed its estimate from Oct 31 that gross domestic product in the 20 countries sharing the euro fell 0.1% quarter-on-quarter in the July-September period for a 0.1% year-on-year rise. European Central Bank vice president Luis de Guindos said last week the euro zone economy was likely to contract slightly or at best stagnate in the fourth quarter after business activity data for October showed further weakening of demand in the dominant services industry. But contrary to the usual trend when the economy weakens, employment in the euro zone rose 0.3% quarter-on-quarter in the same period, for a 1.4% year-on-year increase. The growth slump is caused by strong headwinds from high inflation and record high interest rates as well as the slowly tightening fiscal policy.

Persons: Fabian Bimmer, Luis de Guindos, De Guindos, Jan Strupczewski Organizations: Shipping, REUTERS, Rights, European Central Bank, ECB, Thomson Locations: Hamburg, Germany, Rights BRUSSELS, France, Spain, Belgium, Italy, Austria, Portugal, Ireland, Estonia, Lithuania

☆ Truck maker Scania to switch to zero-carbon steel by 2030
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

The sky reflects on the window of a Scania 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 Bimmer Acquire Licensing RightsOSLO, Nov 13 (Reuters) - Swedish truck maker Scania will switch to using steel made without carbon emissions in its heavy-duty vehicles before the end of the decade, it said on Monday. "Scania's purpose is to drive the shift towards a sustainable transport system," CEO Christian Levin said in a statement, adding that the truck maker was taking action across its value chain to cut emissions. SSAB is investing heavily in new production methods to eliminate carbon dioxide emissions from its steel production, such as replacing traditional coking coal with zero-carbon electricity and hydrogen. The metal has the same quality and technical properties as traditional steel, including when recycled, according to SSAB.

Persons: Fabian Bimmer, Christian Levin, Terje Solsvik, Jonathan Oatis Organizations: IAA Transportation, REUTERS, Rights, Scania, Volkswagen's, Thomson Locations: Scania, Hanover, Germany, Rights OSLO, Swedish

☆ Volkswagen to cut administrative personnel costs 20% in savings drive -Handelsblatt
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsBERLIN, Nov 13 (Reuters) - Volkswagen (VOWG_p.DE) plans to cut administrative personnel costs by a fifth as part of a cost-cutting package to save 10 billion euros ($10.8 billion) by 2026, the Handelsblatt daily reported on Monday, citing an internal company podcast. Gunnar Kilian, Volkswagen's board member for human resources, said in conversation with VW brand chief Thomas Schaefer that the cuts would focus on cost reduction rather than headcount, according to the Handelsblatt report. The specific details of the drive at Volkswagen's passenger car brand, announced in June and currently being defined in talks between management and the workers council, are due to be set by December. Volkswagen has signed an agreement with the workers council to secure jobs until 2029, and the council has repeatedly said it will not allow changes to that agreement. Reporting by Victoria Waldersee, Christina Amann; Writing by Victoria Waldersee, Miranda Murray; Editing by Stephen Coates and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Fabian Bimmer, Gunnar Kilian, Volkswagen's, Thomas Schaefer, Victoria Waldersee, Christina Amann, Miranda Murray, Stephen Coates, Bernadette Baum Organizations: VW, REUTERS, Rights, Volkswagen, Reuters, Thomson Locations: Wolfsburg, Germany

☆ Germany's Continental announces job cuts in automotive division
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: 1 min

Persons: Fabian Bimmer, Andrey Sychev, Miranda Murray Organizations: Continental, REUTERS, Rights, Thomson Locations: Hanover, Germany

☆ Continental plans thousands of job cuts in auto division
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

A car wheel with a badge showing the logo of German tyre company Continental, pictured before the company's annual news conference in Hanover, Germany, March 7, 2019. The exact number of job cuts was not immediately clear, but it will amount to the "mid-four-digit range", the company said. The news comes amid ongoing reports that Continental plans a restructuring and potential sell-offs, with CEO Nikolai Setzer saying in September he was considering a change in ownership of the company's ContiTech division. Continental will provide a full strategy update at its capital markets day on Dec. 4, the statement said. Last week the company reported that the automotive business returned to profit in the third quarter and predicted a strong quarter ahead.

Persons: Fabian Bimmer, Nikolai Setzer, Andrey Sychev, Victoria Waldersee, Christina Amann, Miranda Murray, Susan Fenton, Bernadette Baum Organizations: Continental, REUTERS, Rights, Reuters, Smart, Thomson Locations: Hanover, Germany

☆ Germany's Continental considers measures to improve competitiveness
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +2 min

A car wheel with a badge showing the logo of German tyre company Continental, pictured before the company's annual news conference in Hanover, Germany, March 7, 2019. REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsCompanies Continental AG FollowFRANKFURT, Nov 12 (Reuters) - Continental (CONG.DE) on Sunday said it is considering how to improve competitiveness of its automotive division but stopped short of commenting on a report that it could axe about 5,500 jobs worldwide. "Continental is looking into further measures to strengthen the competitiveness of its Automotive division," a spokesman said in reply to emailed questions about the report by business publication Manager Magazin. Once it has taken concrete decisions the company will publicise them internally and then inform the public, he added. Manager Magazin earlier wrote that the multinational automotive parts manufacturer could cut about 5,500 jobs in the automotive division, more than 1,100 of which would be at its 30 locations in Germany.

Persons: Fabian Bimmer, Vera Eckert, David Goodman Organizations: Continental, REUTERS, FRANKFURT, Automotive, Thomson Locations: Hanover, Germany

☆ Senior Ukrainian officer coordinated Nord Stream attack: Washington Post
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +2 min

Pipes for the Nord Stream 2 gas pipeline in the Baltic Sea, which are not used, are seen in the harbour of Mukran, Germany, on September 30, 2022. REUTERS/Fabian Bimmer/ File Photo Acquire Licensing RightsKYIV, Nov 12 (Reuters) - A Ukrainian military officer coordinated last year's attack on the Nord Stream natural gas pipeline, the Washington Post reported on Saturday, citing anonymous sources in Ukraine and Europe. Washington and NATO called it an act of sabotage, while Moscow said it was an act of international terrorism. Roman Chervinsky, a former intelligence official who served in the Ukrainian military's special forces, managed a six-person team but did not plan the attack, the Post reported. Germany, Denmark and Sweden have launched investigations into the Nord Stream explosions, which sent plumes of methane into the atmosphere in a leak that lasted several days.

Persons: Pipes, Fabian Bimmer, Roman, Volodymyr Zelenskiy, Zelenskiy, Chervinsky, Viktor Hanushchak, Germany's Der, Dan Peleschuk, Tom Balmforth, William Maclean Organizations: REUTERS, Rights, Washington Post, Reuters, Germany's Der Spiegel, Thomson Locations: Baltic, Mukran, Germany, Ukrainian, Ukraine, Europe, Bornholm, Washington, NATO, Moscow, Denmark, Sweden, Russian

Logo of German tyre company Continental is pictured before the annual news conference in Hanover, Germany, March 9, 2021. REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsCompanies Continental AG FollowBERLIN, Nov 8 (Reuters) - Continental (CONG.DE) reported earnings in line with consensus on Wednesday as successful price negotiations, lower inventory and stabilised supply chains enabled it to boost the performance of its automotive business and increase free cash flow. "We still have significant ground to gain in the fourth quarter," Chief Financial Officer Katja Garcia Vila, formerly Dürrfeld, said. Its automotive business, which suffered a loss in the second quarter, was back to profit with an adjusted earnings margin of 2.8% largely down to raising prices and stabilising supply chains. Still, negative currency exchange rates prompted it to adjust the cars business sales outlook slightly downwards to 20 billion euros from 21 billion previously.

Persons: Fabian Bimmer, Katja Garcia Vila, Victoria Waldersee, Miranda Murray, Miral Organizations: Continental, REUTERS, BERLIN, Victoria, Thomson Locations: Hanover, Germany, North America, Europe

☆ France says Ariane 6 accord calls for public aid, 11% cost cuts
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

[1/2] General view of Ariane 6, Europe's next-generation space rocket, production line of Ariane Group in Bremen, Germany, February 19, 2019. The deal between Europe's three leading launch nations also clarifies usage of the European spaceport in French Guiana and opens up competition to future launchers, Le Maire said. A separate statement by France, Germany and Italy said Avio's (AVI.MI) Vega C would receive up to 21 million euros in public support. "This is a major success and a decisive point in European space history. It preserves European unity on the question of access to space," Le Maire told reporters following talks between members of the 22-nation European Space Agency (ESA).

Persons: Europe's, Fabian Bimmer, Bruno Le Maire, Le Maire, Safran, Avio's, Vega, Tim Hepher, Charlotte Van Campenhout, Mark Potter Organizations: Ariane, REUTERS, Rights, French Finance, Airbus, European Space Agency, ESA, Thomson Locations: Bremen, Germany, France, Italy, Guiana

☆ Hamburg airport hostage standoff over, suspect arrested, police say
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Nov 5 (Reuters) - Police arrested a man and rescued a child at the centre of a hostage standoff at Hamburg airport on Sunday, ending a crisis that had forced authorities to close the busy air hub. Police said the 35-year-old man was with his four-year-old daughter and was thought to be involved in a custody dispute. "The hostage situation is over," the city's police force wrote on X, formerly known as Twitter, early on Sunday afternoon. [1/8]Police officers detain a man, after a man drove through a barrier onto the grounds of the city's airport with a child in his car in Hamburg, Germany, November 5, 2023. The episode raised concerns over security at the airport less than four months after climate activists got onto the runway and blocked planes.

Persons: Fabian Bimmer, Peter Tschentscher, Tom Sims, Joern Poltz, Tanya Wood, Daniel Wallis, William Mallard, David Evans, Andrew Heavens Organizations: Police, Twitter, REUTERS, Thomson Locations: FRANKFURT, Hamburg, Germany

[1/4] View of the construction site of the Elbtower building, owned by Rene Benko’s Signa and a Commerzbank subsidiary, in Hamburg Germany, November 2, 2023. Signa, the Austrian property giant and an owner of New York's Chrysler Building, had been making steady progress this year on the planned 64-story Elbtower skyscraper in Hamburg. But Signa, founded by René Benko, has fallen behind on its payments to its builder, Lupp, an executive of the construction firm said. The city of Hamburg and a minority investor, the real-estate subsidiary of Germany's Commerzbank (CBKG.DE), confirmed the stoppage. It has also prompted warnings from city officials, and is another indicator of troubles hitting the property sector in Europe's largest economy.

Persons: Rene Benko’s Signa, Fabian Bimmer, René Benko, Matthias Kaufmann, Signa, Germany's, Aon, Timo Herzberg, Karen Pein, Tom Sims Organizations: REUTERS, Rights, Chrysler, Reuters, City, Reuters Graphics, Thomson Locations: Hamburg Germany, Austrian, Hamburg, Europe's, HafenCity, City of Hamburg

☆ Maersk's woes signal slow-motion industry crash
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Boss Vincent Clerc is not alone in trying to manage a crisis that is battering the container shipping world and which analysts at DNB Markets reckon could last up to 2030. He may also suspend the company's share buyback programme which has been put under review. Investors – spoilt by 16 consecutive quarters of earnings growth up to September – knocked 17% off the company’s share price following the news. The unit, which handles container shipping, reported a 56% drop in third-quarter sales due to a steep fall in freight rates. The World Trade Organization halved its growth forecast for global goods trade this year.

Persons: Evelyn Maersk, Fabian Bimmer, Moller, Boss Vincent Clerc, –, Clerc, Pamela Barbaglia, Aston Martin, Aimee Donnellan, Streisand Neto Organizations: REUTERS, Reuters, Shipping, Maersk, World Trade Organization, X, Macquarie, Pfizer, Thomson Locations: Hamburg, Germany

☆ Global EV battery supply chain puzzles over China graphite curbs
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +6 min

Graphite powder, used for battery paste, is pictured in a Volkswagen pilot line for battery cell production in Salzgitter, Germany, May 18, 2022. China dominates the global EV battery supply chain including production of graphite - the single largest component. Graphite companies in the country process both the natural material mined domestically and overseas, as well as synthetic forms. Under the new rules, China will require export permits starting Dec. 1 for high-end synthetic graphite, as well as key forms of natural graphite. NATURAL GRAPHITE HITGlobal companies using natural graphite include Hitachi Chemical, part of Japan's Resonac Holdings Corp (4004.T), South Korea's POSCO Future M (003670.KS) and Japan's Mitsubishi Chemical, which produces natural graphite at two plants in China, according to research firm CRU Group.

Persons: Fabian Bimmer, Sunit Kapur, Zhang Yan, Siyi Liu, Brenda Goh, Satoshi Sugiyama, Heekyong Yang, Seoul ， Paul Lienert, Jing Xu, Dominique Patton, Tony Munroe, David Evans Organizations: Volkswagen, REUTERS, Rights, EV, Qingdao, Reuters, China's Ministry of Commerce, Gotion High Tech, BTR, Material Technology, Hitachi Chemical, Japan's Resonac Holdings Corp, Mitsubishi Chemical, CRU Group, Mitsubishi, Resources, Materials, Thomson Locations: Salzgitter, Germany, Beijing, China, Japan, South Korea, United States, U.S, Shanghai, Ningbo Shanshan, Indonesia, Finland, Japan's, Australia, Mozambique, U.S ., Louisiana, North Carolina, Toyko, Seoul ，, Detroit

REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsLONDON, Oct 23 (Reuters) - China is upping the critical minerals stakes by curbing exports of graphite, a key raw material in electric vehicle batteries. There is much potential for further escalation in this unfolding critical minerals battle between China and the West. Previous restrictions on lower-grade graphite exports destined for the steel and lubricants sectors have been rescinded. The world's graphite supply chain could well be in for a similar short-term shock. Western governments are still evaluating their response, waiting like the rest of us to see how China's graphite volumes play out in the coming months.

Persons: Fabian Bimmer, Wei Jianguo, Wei, Biden, Obama, Trump, Adam Hodge, China's Wei, David Evans Organizations: Volkswagen, REUTERS, Commerce, U.S, Chips, Benchmark Minerals, U.S . Department, Department of Defense, EV, World Trade Organization, European Union, WTO, Thomson, Reuters Locations: Salzgitter, Germany, China, U.S, Alaska, Australia, Japan

[1/2] Graphite powder, used for battery paste, is pictured in a Volkswagen pilot line for battery cell production in Salzgitter, Germany, May 18, 2022. REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsOct 20 (Reuters) - As China moved to control some exports of key battery mineral graphite on Friday, miners elsewhere face a race against time to bring new projects to fruition to secure supplies for the next generation of electric vehicles. To stay ahead in a fast-changing industry, carmakers have been investing directly in mining projects to ensure future supplies of the battery inputs. "We see China's move as a potential catalyst to highlight the urgency of improving domestic graphite supply," said John DeMaio, president of Graphex's graphene division. "We've aligned ourselves with several graphite miners outside of China.

Persons: Fabian Bimmer, Hugues Jacquemin, China's, John DeMaio, DeMaio, Stefan Bernstein, Graphite's Jacquemin, Shishir Poddar, Nelson Banya, Clara Denina, Divya Rajagopal, Ernest Scheyder, Veronica Brown, Elaine Hardcastle Organizations: Volkswagen, REUTERS, Graphex, HK, EV, GreenRoc, Thomson Locations: Salzgitter, Germany, China, Warren , Michigan, Greenland, Northern, Tirupati, Madagascar, Mozambique

China's decision may escalate trade disputes globally and spur other countries to prioritize research into alternative sources and materials, industry executives said. "We see China's move as a potential catalyst to highlight the urgency of improving (U.S.) graphite supply," said John DeMaio, president of Graphex Group's (6128.HK) graphene division. It has graphite supply deals with Syrah Resources (SYR.AX) and is looking for other sources, DeMaio said. Synthetic graphite could account for nearly two-thirds of the EV battery anode market by 2025, Benchmark Mineral Intelligence estimates. Chief Operating Officer Hans Erik Vatne told Reuters recently that developing synthetic graphite production is costly, but that is the price to pay to reduce reliance on China.

Persons: Fabian Bimmer, John DeMaio, Graphex Group's, DeMaio, Tesla, Hans Erik Vatne, Rob Anstey, Alvin Liu, Akash Sriram, Ernest SCheyder, Nick Carey, Christina Amann, Marie Mannes, Gilles Guillaume, Ilona Wissenbach, Ben Klayman, Josie Kao Organizations: Volkswagen, REUTERS, Syrah Resources, Magnis Energy Technologies, Mineral Intelligence, Reuters, EVs, BMO Capital Markets, BMW, Volvo, Renault, General Motors, Ford, Thomson Locations: Salzgitter, Germany, China, Warren , Michigan, West, U.S, Europe, Oslo, Norway, Bengaluru, Houston, London, Berlin, Stockholm, Paris, Frankfurt

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