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CNN —Boasting the largest prize pool in esports history, this year’s inaugural 2024 Esports World Cup (EWC) could prove to be a pivotal moment for the industry. Clubs will be able to choose which games they participate in before the best performing team across the various championships will be crowned the ultimate Esports World Cup champion for the very first time. Ralf Reichert, CEO of the Esports World Cup Foundation, hopes this new competition in Saudi Arabia can be a game changer. “Setting the record for largest esports prize pool is a remarkable achievement, but what I’m most proud of is the positive message this sends to the wider esports and gaming community,” Reichert said in a statement. In 2023, Saudi launched ‘The National Gaming and Esports Strategy’ (NGES) which hopes to make the country the center of the competitive gaming world by 2030.
Persons: Ralf Reichert, ” Reichert, Saudi Arabia –, , Prince Mohammed bin Salman, Organizations: CNN, Apex, EA Sports FC, of, League, Riot, New York Times, Saudi Arabia’s Public Investment Fund, Saudi, National Gaming, Saudi’s, New Global Sport Locations: Riyadh, Saudi Arabia, Saudi
CNN —Three Rapid Vienna soccer players were not selected for national team duty after video emerged of them taking part in post-match celebrations shouting homophobic chants with a selection of the crowd. Guido Burgstaller, Marco Grüll and Niklas Hedl were seen, among others, chanting after the club defeated rivals Austria Vienna on February 25. Austria’s men’s national team manager Ralf Rangnick said he left the trio out for the upcoming fixtures against Slovakia and Turkey after he and the coaching staff watched videos of the incident. The deciding factor is what the behavior looks like.”Austria manager Ralf Rangnick has not selected the three players from the most recent national team squad. Christian Hofer/Getty ImagesBurgstaller, Rapid Vienna’s club captain, issued an apology online for the “absolute misconduct.”“We bear full responsibility for what happened and deeply regret this action.
Persons: Guido Burgstaller, Marco Grüll, Niklas Hedl, Austria’s, Ralf Rangnick, Rangnick, , they’ve, ” Rangnick, it’s, Christian Hofer, Grüll, , ” Grüll, Thorsten Schick, Maximilian Hofmann, Steffen Hofmann, Stefan Kulovits Organizations: CNN, Rapid Vienna, Austria Vienna, Manchester United, Rapid Vienna’s, SK Rapid, Austrian Football League Locations: Slovakia, Turkey, Austria
But a newly described mystery involving a mushroom and a frog suggests that fungi’s role in the environment is anything but black-and-white. Once upon a planetA golden-backed frog is seen with a small mushroom (right) growing out of its body. Elsewhere in our solar system, space scientists have spotted three faint and tiny moons orbiting the outermost planets in the Milky Way: Uranus and Neptune. — A dead star that feasted on a planet once in its orbit could foretell the eventual fate of our own solar system. They find wonder in planets beyond our solar system and discoveries from the ancient world.
Persons: Lohit, Dimorphos, , Dr, Sabina Raducan, it’s, Ralf Britz, Britz, Here’s, Odysseus, Odie, , Ashley Strickland, Katie Hunt Organizations: CNN, NASA, DART, University of Bern’s Physics, CNN Space, Science Locations: Indian, Karnataka, Dimorphos, Switzerland, Myanmar, Dresden, Germany, Roman Britain, United States
CNN —A small species of fish that measures no more than half an inch in length is capable of producing sounds louder than an elephant, according to a new study. Danionella cerebrum, tiny translucent fish that live in shallow waters off Myanmar, can make noises of more than 140 decibels, an international team of scientists report in a press release published Tuesday. Large animals tend to be capable of producing louder noises than small ones, with elephants able to make sounds up to 125 decibels with their trunks. There are also some fish species that make unusually loud noises, such as the male plainfin midshipman fish, which is capable of making mating calls up to 130 decibels, but Danionella cerebrum appears to be unique among fish. “No other fish has been reported to use repeated unilateral muscle contractions for sound production,” reads the study.
Persons: Danionella, , Ralf Britz, Danionella cerebrum Organizations: CNN, National Academy of Sciences Locations: Myanmar, Dresden, Germany
But department stores, focused on America’s middle class, are fading. The victims of shifting consumer tastes were not the department stores that anchored the local mall, it was the small, locally owned stores along downtown shopping districts that were closing their doors. And possibly even more than the big box competitors, department stores have suffered from consumers shifting to buying items online rather than in person. The steady closing of the department stores that once served as “anchors” of malls across suburban America has been another nail in the coffin of many malls, hurting the department stores that remained in hollowed-out malls with a fraction of their earlier traffic. Saunders said one of the primary problem for Macy’s is that its holding company, formerly known as Federated Department Stores, spent much of its resources on buying other department store brands, such May’s Department Stores, and Filene’s, rather than investing in the stores its held.
Persons: New York CNN —, Neil Sauders, , JC Penney, It’s, , Neil Saunders, Shannon Stapleton, Saunders, ” Saunders, Al Bello, Sunny Zheng, Macy’s, Tony Spring, Taylor, Brian Snyder, Eddie Lambert, Michael Brown, Kearney, ” Brown, Mike Segar, Richard W, Sears, Alvah Roebuck, Sears Roebuck, Bettmann, PhotoQuest, Jack Manning, Frank Scherschel, Owen, Lucille Jagusch, Arlene Hardt, Martin Luther King Jr, Michael Ochs, Ron Frehm, Ralf, Finn Hestoft, Mark Peterson, Seth Meyers, Hugh Jackman, NBCUniversal, Kaylin Wilson, Jim Cole, Rene Johnston, Maria Alejandra Cardona, Scott Olson, Cesar Villasenor, Mel Melcon, Sarah Blesener, Paul Hennessy, Patti Naleck, Naleck, Stacey Wescott, Brown Organizations: New, New York CNN, American, Walmart, Company, Department, Sears, Target, GlobalData, JCPenney, Research, RadioShack, Reuters Sears, Federated Department Stores, May’s, Reuters, Chicago History, Sears Roebuck, Roebuck, Hulton, AP, AP Soldiers, Michael Ochs Archives, Getty, Bettmann, Kmart, Bloomberg, Toronto Star, Reuters Residents, Los Angeles Times, New York Times, Chicago Tribune, Tribune, Service Locations: New York, GlobalData, America, Nanuet , New York, North Redwood , Minnesota, Chicago, El Paso , Texas, Jackson , Mississippi, Tucson , Arizona, Caracas, Venezuela, Niles , Illinois, Morton Grove , Illinois, Baltimore, White Plains , New York, Woodfield , Illinois, Hicksville , New York, Nashua , New Hampshire, Mentor , Ohio, Mississauga , Ontario, Hialeah , Florida, Janesville , Wisconsin, Santa Monica , California, Rockaway , New Jersey, Leesburg , Florida, Schaumburg , Illinois
Volkswagen electric ID car is seen during a construction completion event of SAIC Volkswagen MEB electric vehicle plant in Shanghai, China November 8, 2019. Chinese new car buyers are younger, tech savvy and like a immersive digital experience from their cars, he added. China was a very “price-sensitive” market and Volkswagen needed to optimise costs, Brandstaetter said. Volkswagen in July struck a deal with Chinese EV maker Xpeng Inc (9868.HK) to boost its EV line up. It has two new models under development as part of that partnership that will target mid-level consumers and be produced on an older generation Xpeng platform.
Persons: Aly, Ralf Brandstaetter, Brandstaetter, , Luehrmann, Volkswagen's, Zhang Yan, Brenda Goh, Victoria Waldersee, Kim Coghill Organizations: Volkswagen, SAIC Volkswagen, REUTERS, Rights, Volkswagen Group China Technology Company, SAIC, FAW, JAC Motors, Xpeng, HK, Thomson Locations: Shanghai, China, Rights HEFEI, BERLIN, Hefei, BYD, Germany
The Week 11 action concludes with the biggest game of the week – a Kelce vs. Kelce Super Bowl rematch. Jason Kelce’s Philadelphia Eagles will travel to Kansas City to take on Travis Kelce’s Chiefs in one of the most highly-anticipated matchups of the season – a Super Bowl LVII rematch and a potential Super Bowl LVIII preview. “I don’t need the Super Bowl to motivate me to beat my brother, or Andy Reid. I know what it takes now to be an NFL quarterback and not just be a college quarterback being in the NFL,” Thompson-Robinson told reporters. Australia: NFL+, ESPN, 7PlusBrazil: NFL+, ESPNCanada: NFL+, CTV, TSN, RDSGermany: NFL+, ProSieben MAXX, DAZNMexico: NFL+, TUDN, ESPN, Fox Sports, Sky SportsUK: NFL+, Sky Sports, ITV, Channel 5US: NFL+, CBS, NBC, FOX, ESPN, Amazon Prime
Persons: Joe Burrow, Jason Kelce’s, Travis, Taylor Swift’s, Jason, Magazine’s, “ It’s, it’s, ” Jason, Travis Kelce, Taylor Swift, Ralf Ibing, firo sportphoto, It’s, ” Travis, we’ve, Andy Reid, I’ve, , , you’re, Deshaun Watson, Watson, “ I’m, I’m, ” Watson, Dorian Thompson, Robinson, Quarterback Dorian Thompson, Jason Miller, Thompson, Robsinson, “ I’ve, ” Thompson, Sean Payton, Kirk Cousins, – it’s, ” Payton, they’ve, They’ve, Stephen Maturen, haven’t, Kevin O’Connell, Sean, Payton, we’re, Patrick Mahomes, Josh Allen, , it’ll, ProSieben MAXX Organizations: CNN, NFL, Baltimore Ravens, Cincinnati Bengals, Ravens, AFC, Bengals, Philadelphia Eagles, Kansas City Chiefs, Jason Kelce’s Philadelphia Eagles, Kansas City, Travis Kelce’s Chiefs, Super Bowl, New, Philadelphia, Pittsburgh Steelers, Cleveland Browns, Minnesota Vikings, Denver Broncos, Denver, Chiefs, Broncos, , Vikings, Minnesota, ” Vikings, Buffalo Bills, Bills, , Sunday Dallas Cowboys, Carolina Panthers, Chicago Bears, Detroit Lions, Los Angeles Chargers, Green Bay Packers, Arizona Cardinals, Houston Texans, Tennessee Titans, Jacksonville Jaguars, Vegas Raiders, Miami Dolphins, New York Giants, Washington, Tampa Bay Buccaneers, San Francisco 49ers, New York Jets, Seattle Seahawks, Los Angeles Rams, ESPN, 7Plus, ESPN Canada, CTV, TSN, RDS, DAZN, Fox Sports, Sky Sports UK, Sky Sports, ITV, Channel, CBS, NBC, FOX, Amazon Locations: Kansas, Buenos Aires, Philadelphia, , elation, Minnesota, Denver, Australia, 7Plus Brazil, RDS Germany, DAZN Mexico
Chief Executive Officer (CEO) of German industrial conglomerate Siemens, Roland Busch attends the virtual annual shareholder meeting in Munich, Germany, February 10, 2022. Sven Hoppe/Pool via REUTERS/File Photo Acquire Licensing RightsSummaryCompanies Company expects sales to grow 4-8% in fiscal 2024Posts record industrial sales, profit in Q4Frankfurt-listed shares +3.6%FRANKFURT, Nov 16 (Reuters) - Siemens (SIEGn.DE) on Thursday gave a more cautious sales outlook for 2024, citing continuing destocking by Chinese customers, after the maker of products from trains to industrial software reported record industrial profit. That beat the 20.99 billion euros forecast in a company-gathered poll of analysts. Industrial profit too grew 7% to a record 3.4 billion euros, above the 3.34 billion euros forecast. The company has also been working through its massive order book, which stood at 111 billion euros at the end of September, up from 110 billion euros at the end of June.
Persons: Roland Busch, Sven Hoppe, Ralf Thomas, Christoph Steitz, Alexander Huebner, John Revill, Linda Pasquini, Christopher Cushing, Jan Harvey Organizations: Siemens, Companies, ABB, Frankfurt, Industrial Business, Thomson Locations: Munich, Germany, Frankfurt, FRANKFURT, Swiss, China
CNN —Astronomers using the James Webb Space Telescope have for the first time detected tiny quartz crystals containing silica — a common mineral on Earth — within the atmosphere of a blazing hot exoplanet. An artist's concept depicts what the exoplanet WASP-17b could look like. What the quartz crystals reveal about WASP-17bWasp-17b takes 3.7 Earth days to complete one orbit around its star. Webb detected quartz crystals in the atmosphere of WASP-17b. While the clouds can drift around the planet, they likely vaporize on the hot day side, which could send the quartz particles swirling.
Persons: James Webb, Ralf Crawford, , , David Grant, Hannah Wakeford, ” Grant, Wakeford Organizations: CNN —, NASA, ESA, CSA, University of Bristol, WASP, Minerals, “ WASP
Underwood Archives/Getty Images Feinstein gets her makeup touched up for a photo shoot in San Francisco in 1955. Bettmann Archive/Getty Images Feinstein attends a campaign event for her mayoral run in San Francisco in 1971. Clem Albers/San Francisco Chronicle/Getty Images Feinstein attends a memorial service for assassinated Supervisor Harvey Milk in San Francisco in 1978. Roger Ressmeyer/CORBIS/VCG/Getty Images Feinstein speaks at the signing of an anti-gun bill at San Francisco City Hall in 1982. Douglas Graham/CQ Roll Call/Getty Images Feinstein greets first lady Hillary Clinton at the 2000 Democratic National Convention in Los Angeles.
Persons: Washington CNN — Dianne Feinstein, Feinstein, Gavin Newsom, Newsom, NBC’s “, , Feinstein’s, Ramsay Hunt, I’m, , ” Feinstein, Lindsey Graham, Amy Coney Barrett, Leah Millis, Nancy Pelosi, Democratic Sen, Dick Durbin, Kevin McCarthy, Chuck Schumer, “ Dianne Feinstein, ” Schumer, Sen, Dianne Feinstein, Joe Biden, Celeste Sloman, Dianne Emiel Goldman, George Moscone, Harvey Milk, Duke Downey, Clem Albers, Janet Fries, Quentin Kopp, Sal Veder, Richard Blum, Walter Mondale, Georges, Roger Ressmeyer, Steve Ringman, Tony Bennett, Jeff Reinking, Neal Ulevich, Bishop Desmond Tutu, Eric Risberg, Willie Brown, Cecil Williams, Dr, Martin Luther King Jr, Paul Sakuma, Kim Komenich, Mark Reinstein, Barbara Boxer, Alan Greth, Ruth Bader Ginsburg, Carol Moseley, Braun, Doug Mills, Charles Tasnadi, Kathleen Brown, Bill Clinton, Dirck Halstead, Lisa Leslie, Gigi Goshko, Douglas Graham, Hillary Clinton, Clinton, Paul J, Richards, Orrin Hatch, Patrick J, Leahy, William H, Pryor Jr, Scott J, Ferrell, Arnold Schwarzenegger, Schwarzenegger, Tim Sloan, Rick Friedman, Condoleezza Rice, George W, Bush, Colin Powell, Chuck Kennedy, John Roberts, Mark Wilson, Eileen Mariano, Mariano, interning, Tom Williams, Carson, Jay L, Barack Obama, Ralf, Finn Hestoft, Hina Rabbani Khar, Brendan Smialowski, Jacquelyn Martin, AP Sen, Chuck Grassley, Christine Blasey Ford, Brett M, Kavanaugh, Ford, Donald Trump, Chip Somodevilla, Barrett, Bonnie Cash, Graham, Samuel Corum, Jonathan Ernst, Simone Biles, Larry Nassar, Aly Raisman, Maggie Nichols, McKayla Maroney, Bob Dole, Oliver Contreras, Kent Nishimura, Kevin Dietsch, Dianne Feinstein's, Moscone, Milk, CNN’s Dana Bash, Dan White, ‘ Dan, , Harvey, California’s, Bash, Richard Blumenthal, Bill Clark, Annette Bening, Donald Trump’s, South Carolina Republican Lindsey Graham’s Organizations: Washington CNN, Senate, California Democratic, Democratic, Press, Democrats, Democratic Party, Capitol, Senate Intelligence, California Democrat, Capitol Hill, CNN, Golden State ”, Illinois, Republican, New York Times, Underwood Archives, Getty, San Francisco City Hall, San Francisco, of Supervisors, Bettmann, San Francisco Chronicle, San Francisco Ice Company, White, Steiner, Forbidden, Democratic National Convention, United States Senate, United, United States women's, team, Convention, Washington Post, Circuit, Images California, McClatchy, Tribune, Service, Supreme, California, Rancho, Pakistan's, AP, Committee, White House, Los Angeles Times, Stanford University, San, Supervisors, Administration Committee, federal, Inc, South Carolina Republican, Judiciary, Intelligence, Appropriations Locations: Washington, California, San Francisco, America, ” San Francisco, Washington , DC, DC, Forbidden City, Beijing, China, Feinstein , California, Los Angeles, United States, New York, AFP, Boston, Rancho Bernardo, San Diego, San Francisco , California, Maryland, San Francisco County, Richard Blumenthal of Connecticut
A technician works on a model of Volkswagen ID.4, at the production line for electric car models of the Volkswagen Group in Zwickau, Germany, April 26, 2022. REUTERS/Matthias Rietsche/File Photo Acquire Licensing RightsFRANKFURT, Sept 27 (Reuters) - Volkswagen (VOWG_p.DE) was hit by a major IT outage on Wednesday, Europe's top carmaker said, adding that production at the carmaker's namesake brand in Germany had come to a halt as a result. Volkswagen said that the whole group, which includes the Porsche AG (P911_p.DE) and Audi brands, was affected. A spokesperson for Audi confirmed that production at the division had been impacted, too, adding it was currently being analysed to what extent. Volkswagen said there had been an unspecified "IT malfunction of network components" at the carmaker's site in Wolfsburg, its global headquarters.
Persons: Matthias Rietsche, carmaker, Volkswagen, Christoph Steitz, Ralf Banser, Maria Martinez, David Holmes, Grant McCool, William Maclean Organizations: Volkswagen, REUTERS, Rights, Porsche AG, Audi, Thomson Locations: Zwickau, Germany, Wolfsburg
EU set to demand e-fuel cars have no climate impact
  + stars: | 2023-09-22 | by ( Kate Abnett | ) www.reuters.com   time to read: +2 min
All new cars sold in the EU from 2035 must have zero CO2 emissions, under the EU's main climate policy for cars, which countries agreed earlier this year. A draft EU legal proposal, seen by Reuters, showed Brussels plans to set strict conditions for e-fuel cars - requiring them to run on fully CO2 neutral fuels. E-fuels are considered carbon neutral when they are made using captured CO2 emissions that balance out the CO2 released when the fuel is combusted in an engine. The draft rules would be stricter than the low-carbon fuel rules in some other EU climate policies. For example, countries can use certain fuels to meet EU renewable energy targets if they achieve a 70% emissions saving, rather than 100%.
Persons: Jan Schwartz, Ralf Diemer, Kate Abnett, Riham Alkousaa, Philip Blenkinsop Organizations: REUTERS, Rights, European, European Commission, Reuters, eFuel Alliance, Manufacturers, Thomson Locations: Allersberg, Germany, Hamburg, Munich, Rights BRUSSELS, Brussels, Berlin
We forecast the first Fed rate cuts in June of next year: BofA
  + stars: | 2023-09-21 | 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 EmailWe forecast the first Fed rate cuts in June of next year: BofARalf Preusser, global head of rates research at BofA, discusses the Fed and the BOE's latest moves.
Persons: BofA Ralf Preusser Organizations: Fed
Microsoft product chief Panos Panay is leaving the company
  + stars: | 2023-09-18 | by ( Jordan Novet | ) www.cnbc.com   time to read: +5 min
Panos Panay, Microsoft's chief product officer, talks about Windows 11 at the Windows 11 launch event that was streamed live on June 24, 2021. Microsoft's product chief, Panos Panay, will leave the software and hardware maker, executive vice president Rajesh Jha told employees on Monday. The shakeup represents a changing of the guard after more than a decade of sales of Microsoft's Surface PCs, which Panay has presented to consumers at company events. Team,After nearly 20 years at the company, Panos Panay has decided to leave Microsoft. Best,RajeshWATCH: The Microsoft Surface Go is a good computer, but a very bad tablet
Persons: Panos Panay, Panos, Rajesh Jha, Yusuf Mehdi, Satya Nadella, Mehdi, Charles Simonyi, Jha, I've, I'm, Pavan Davuluri, Brett Ostrum, Nino Storniolo, Linda Averett, Ken Pan, Ralf Groene, Aidan Marcuss, Carlos Picoto, Stevie Bathiche, Robin Seiler, Ruben Caballero, Anuj, Shilpa Ranganathan, Jeff Johnson, Ali Akgun, Mikhail Parakhin, Terri Chudzik, Erin Kolb, Mike Davidson, Let's, Rajesh Organizations: Windows, Microsoft Locations: Panos Panay, Panay, New York
Cybercrime to cost Germany 206 billion euros in 2023 -survey
  + stars: | 2023-09-01 | by ( ) www.reuters.com   time to read: +2 min
The damage will surpass the 200 billion euro mark for the third consecutive year, according to a Bitkom survey of more than 1,000 companies. The boundaries between organised crime and state-controlled actors are blurred," Bitkom President Ralf Wintergerst said. Around three quarters of the companies surveyed suffered digital attacks in the past 12 months, falling from 84% of the companies in the previous year. When asked whether "cyber attacks threaten your business existence", for the first time more than half of the companies, or 52%, said "yes". Of the companies that suffered attacks, 70% have had sensitive data stolen - an increase of 7 percentage points on the previous year.
Persons: Bitkom, Ralf Wintergerst, Sinan Selen, Maria Martinez, Friederike Heine, Susan Fenton Organizations: U.S . National Security Agency, Federal Office, Thomson Locations: BERLIN, Germany, German
German consumer morale to fall in September -GfK
  + stars: | 2023-08-29 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Michael Dalder Acquire Licensing RightsBERLIN, Aug 29 (Reuters) - German consumer sentiment is expected to fall in September, due to declining income expectations and propensity to buy, a GfK institute survey showed on Tuesday. "The chances that consumer sentiment can sustainably recover before the end of this year are dwindling more and more," said GfK consumer expert Ralf Buerkl. Persistently high inflation rates are hindering any improvement in consumer sentiment, said Buerkl. The consumer climate indicator forecasts the development of real private consumption in the following month. According to GfK, a one-point change in the indicator corresponds to a year-on-year change of 0.1% in private consumption.
Persons: Michael Dalder, Ralf Buerkl, GfK, Maria Martinez, Friederike Heine Our Organizations: REUTERS, Rights, Reuters, Thomson Locations: Munich, Germany
Whether mandatory return-to-office policies will make the climate crisis worse is an important question, especially as scientists predict that 2023 will be the hottest year on record. But determining whether working from an office is worse for the planet isn't that simple. Failing to find a balance between boosting productivity at the office and protecting the planet risks making the crisis worse. Even though the study only covered the early part of the pandemic, it illustrated how a shift away from office work can have some positive effects for the planet. "There was no clear answer to whether work from home was better or worse for the environment in general terms."
Persons: Rachel, it's, JPMorgan Chase, James Elfer, Elfer, It's, Ty Colman, Colman, Ralf Martin, Martin, teleworking, Megan Litke, We've, Litke, Efler, Operta's Colman, JPMorgan Chase —, Apple, Tony Johnson, Schneider, Johnson, That's, she's, Catherine Boudreau Organizations: Amazon, Google, JPMorgan, Fortune, Employees, Greenhouse, International Energy Agency, IEA, Imperial College Business School, American University, Energy, Target, Dell, Apple, Schneider Locations: , Maryland, Greater London, London, Washington , DC, Williams, Sonoma, North America
And despite the fact that this ancient plant is one of the fastest-evolving species of moss known to science, it may not survive the climate crisis. The researchers embarked on multiple expeditions in the Himalayas to study Takakia moss. As the local temperature average increased each year, the population of Takakia moss decreased by 1.6% annually, the study authors noted. Takakia may die because of climate change, but the other mosses will survive, even if we humans cannot. Takakia may die because of climate change, but the other mosses will survive, even if we humans cannot.
Persons: , Ralf Reski, Ruoyang Hu, , Takakia, ” Reski, Yikun, ” Hu, don’t Organizations: CNN, University of Freiburg, Capital Normal University, Locations: Tibetan, Japan, United States, Germany, Takakia, China, Tibet
Global automakers, who for years have dominated the market along with their Chinese state-run partners, have been slow to pivot to the fast-growing market for EVs with competitive offerings. "This major collaboration between Volkswagen and Xpeng is a milestone for our electrification strategy 'in China for China'," said Ralf Brandstatter, a VW board member on his social media account. Their deeper pockets give established foreign automakers who are determined to fight for share in China, the ability to play a long game. Kia (000270.KS) is to enter China's EV market with its first EV, the EV6 crossover, via imports in August. "The German brands benefit from significant global scale," said He Lei, CEO of Chinese EV trading platform xChuxing.
Persons: Aly, Yale Zhang, Ralf Brandstatter, We've, Mary Barra, Tu Le, Yang Honghai, Kia, Mercedes Benz, Volkswagen's Audi, Lei, It's, Bill Russo, Automobility, Zhang Yan, Brenda Goh, Kevin Krolicki Organizations: Audi, Volkswagen, Auto, REUTERS, General Motors, Toyota, China Association of Automobile Manufacturers, Global, BMW, Mitsubishi, Automotive Foresight, GM, Reuters Graphics Volkswagen, BYD, China's Xpeng, HK, SAIC, VW, Buick, Chevrolet, Cadillac, CHINA EV INC, Tesla, China EV Inc, Volkswagen's, EV, Mitsubishi Motors, Nissan, Ford, Renault, Thomson Locations: Auto Shanghai, Shanghai, China, SHANGHAI, CHINA, Kia China, KS
The German group’s Audi subsidiary will also work more closely with its existing partner, SAIC Motor, China’s biggest car maker. Shares in Xpeng jumped more than 30% Thursday in Hong Kong, leading a broad rally in Chinese EV stocks. China is the single largest market for Volkswagen, accounting for about 40% of its global sales and half of its profits. In the first quarter of 2023, BYD, the Chinese EV maker backed by Warren Buffett, surpassed Volkswagen to become the largest brand by sales in China, according to official car insurance registration data. The German car maker said it would strengthen its strategic position in China, including beefing up its capacity for e-mobility, digitalization and autonomous driving.
Persons: , Ralf Brandstätter, Xpeng, Warren Buffett, It’s Organizations: Hong Kong CNN, Volkswagen, VW, Audi, SAIC, China’s, “ Volkswagen Locations: Hong Kong, German, Xpeng, China, Xinjiang, Germany, BYD, Europe, Hefei, Anhui, Hefei city
Volkswagen and Xpeng will jointly develop two new VW-brand EVs for China based on Xpeng's electric G9. Volkswagen said Wednesday that it has signed a deal to jointly develop two new electric vehicles for China with Chinese EV maker Xpeng . As part of the deal, Volkswagen will invest about $700 million in Xpeng, taking a 4.99% stake. In a separate statement confirming the deal, Xpeng said the two new vehicles will also incorporate its advanced driver-assist software. Volkswagen also confirmed that its Audi subsidiary has signed a separate deal with its longtime Chinese joint venture partner, Shanghai-based SAIC Motor , to jointly develop new Audi-branded EVs for the Chinese market.
Persons: Xpeng, Ralf Brandstätter Organizations: Xpeng, VW, Volkswagen, Chinese, EV, Audi, SAIC Locations: China, Xpeng, U.S, Shanghai
Tesla offers cash rebate on top models in China
  + stars: | 2023-07-07 | by ( ) www.reuters.com   time to read: +3 min
Tesla said it would offer new buyers of its Model Y and Model 3 vehicles a cash rebate of 3,500 yuan ($483) if they could cite a referral from an existing owner. Tesla also said new buyers would have free access to its Enhanced Autopilot driver-assistance system for 90 days. It is continuing an earlier offer announced in June of 7,000-yuan rebates to buyers of its more expensive Model S and Model X vehicles in China. A number of Tesla owners posted their referral codes online and invited others to use them on Friday, suggesting the cash rebate could be widely available for new buyers. Earlier this week, Tesla cut prices on the Model 3 and Model Y by between 3% and 4% in Japan.
Persons: Tesla, Li Auto, Ralf Brandstatter, Premier Li Qiang, Qiaoyi Li, Zhang Yan, Brenda Goh, Shri Navaratnam, Sonali Paul Organizations: China's EV, China Association of Automobile Manufacturers, Premier, EVs, Thomson Locations: BEIJING, China, China's, Shanghai, Japan
RBA 'skip' is not the end of the hiking cycle, analyst says
  + stars: | 2023-07-04 | 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 EmailRBA 'skip' is not the end of the hiking cycle, analyst saysRalf Preusser, global head of rates research at Bank of America, says concerns over rising inflation are growing.
Persons: Ralf Preusser Organizations: Bank of America
[1/3] The doorbell of Cologne's Archbishop Rainer Maria Woelki is pictured in Cologne, Germany June 27, 2023. REUTERS/Andreas KranzBERLIN, June 27 (Reuters) - German police searched properties belonging to the Archdiocese of Cologne on Tuesday as part of a perjury investigation against Cologne Archbishop Rainer Maria Woelki linked to his handling of historic abuse cases, prosecutors said. The archbisopric said at the time the attempt to accuse Woelki of perjury was unfounded. Prosecutors in Cologne said some 30 police officers were involved in searches in six locations, four of which were in Cologne and included rooms in the archbishop's residence. The allegations concern abuse by priest Winfried Pilz who had run a Catholic children's charity and died in 2019.
Persons: Rainer Maria Woelki, Andreas Kranz BERLIN, perjured, Woelki, Cardinal Woelki, Ralf Hoecker, Winfried Pilz, Pope, Friederike Heine, Madeline Chambers, Maria Sheahan, Ed Osmond, Alison Williams Organizations: REUTERS, Archdiocese, Cologne, Germany's Catholic, Catholic Church, Prosecutors, Catholic, WDR, Reuters Television, Thomson Locations: Cologne, Germany, Germany's, Rome
BERLIN, June 27 (Reuters) - Volkswagen's (VOWG_p.DE) head of its business in China said on Tuesday that the carmaker needed clarity on cross-border data transfers in a meeting with the country's Premier Li Qiang, asking how China would cooperate with Europe amid rising political tensions. "As a globalized industry, the transformation of the automotive sector highly depends on international exchange of personnel, data and knowledge. We therefore need more clarity on cross-border data transfers," executive Ralf Brandstaetter said, according to a copy of the speech held at a World Economic Forum meeting in Tianjin. "What are the major considerations of China, and how China will cooperate with Europe in this regard?" SAIC Volkswagen Automotive Co joined in the price war in March, offering 3.7 billion yuan ($512.52 million) in cash subsidies for car purchases in China.
Persons: Li Qiang, Ralf Brandstaetter, Brandstaetter, Victoria Waldersee, Matthias Williams Organizations: Volkswagen, Qualcomm, Horizon Robotics, Tesla, SAIC Volkswagen Automotive Co, Thomson Locations: BERLIN, China, Europe, Tianjin, North America, Italian, Hefei
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