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☆ U.S. Imposes Sanctions on Chinese Companies for Aiding Russia’s War Effort
▼ + stars: | 2024-05-01 | by ( Alan Rappeport | More About Alan Rappeport | ) www.nytimes.com time to read: +1 min

The sanctions represent a broadening of U.S. efforts to disrupt Russia’s military industrial complex supply chain. The Biden administration has expressed growing alarm about the weapons technology alliance between China and Russia. The sanctions follow Ms. Yellen’s trip last month to China, where she confronted Chinese officials over support for Russia. She warned them that Chinese companies and financial institutions that facilitate support for the Kremlin’s war effort would face penalties. The Treasury secretary said her counterparts told her that China had a policy of not providing Russia with military aid.

Persons: Biden, “, Janet L, Yellen, Yellen’s Organizations: Wednesday, Top U.S, Russia Locations: Russia, Ukraine, China, United States

☆ Walgreens has a cult ‘peelable’ candy, courtesy of a Tik Tok craze
▼ + stars: | 2024-04-27 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +6 min

For the beleaguered drugstore chain, the odd “Gummy Mango” candy is a much-needed win. Walgreens said it didn’t work with any paid influencer to hype up its mango gummies but that it took off organically. Walgreens is quickly following up on the success of its mango gummy with a new peelable banana gummy candy. As Esarte and his team rushed to restock the mango gummies last last year, a bigger challenge emerged. After weeks of scrambling and rushing, Walgreens is better prepared to make a bigger splash with the mango gummies.

Persons: It’s, Keonhee Kim, TikToker @Trinhdoesthings, ”, Marty Esarte, Esarte, we’ve, ” Esarte, Anthony Behar, Gen Z, China grinds, “ We’ve, Kim, Tim Wentworth, Tim, ” Kim Organizations: New, New York CNN, Walgreens, CNN, National Confectioners Association, Food Institute, Millennial, Morningstar Locations: New York, Asia, China

☆ U.S. Imposes Major New Sanctions on Russia, Targeting Finance and Defense
▼ + stars: | 2024-02-23 | by ( Alan Rappeport | ) www.nytimes.com time to read: +1 min

The United States on Friday unleashed its most extensive package of sanctions on Russia since the invasion of Ukraine two years ago, targeting Russia’s financial sector and military-industrial complex in a broad effort to degrade the Kremlin’s war machine. The sweeping sanctions come as the war enters its third year, and exactly one week after the death of the opposition leader Aleksei A. Navalny, for which the Biden administration blames President Vladimir V. Putin of Russia. With Congress struggling to reach an agreement on providing more aid to Ukraine, the United States has become increasingly reliant on financial tools to slow Russia’s ability to restock its military supplies and to put pressure on its economy. Announcing the sanctions on Friday, President Biden reiterated his calls on Congress to provide more funding to Ukraine before it is too late. “The failure to support Ukraine at this critical moment will not be forgotten,” he said in a statement.

Persons: Aleksei A, Biden, Vladimir V, Putin, “, ” Organizations: Congress Locations: States, Russia, Ukraine, United States

☆ How vending machines help states battle the opioid crisis: ‘You don’t know when you’re going to need these products’
▼ + stars: | 2024-02-22 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +13 min

A CNN analysis of state health departments finds that at least 33 states and the District of Columbia have naloxone vending machines. Other states, like Delaware, don’t currently have vending machines but plan to launch programs this year. Machines need to be restocked every dayOklahoma’s naloxone vending machine program launched in June. Naloxone vending machine programs often can face opposition from the communities where they are placed. He says he has heard some criticisms or “difficult” questions about the naloxone vending machines and other programs.

Persons: CNN —, Jason Hall, don’t, “, ”, “ You’re, Leo Guerrero, Marshall Hawkins, Hall, you’ve, I’ve, ” Hall, Lori Tremmel Freeman, Heath Hayes, they’re, ” Hayes, Jason Hall refills, Hayes, Carla Sofronski, it’s, ” Sofronski, ’, that’s, Dr, Sanjay Gupta, Jason Organizations: CNN, Hall, District of Columbia, Oklahoma Department of Mental Health, Substance Abuse, Marshall Hawkins Hall, US Centers for Disease Control, Prevention’s National Center for Health Statistics, “, National Association of County, City Health, of Mental Health, Substance, Reduction, CNN Health Locations: Oklahoma, United States, California, New York, Oregon, Delaware, Michigan, Wayne, Oklahoma City, Cincinnati, Clark County , Nevada, Tulsa ., Pennsylvania

☆ Ukrainian artillerymen running low on ammo say drones crucially make their aim 250% better
▼ + stars: | 2024-02-02 | by ( Ella Sherman | ) www.businessinsider.com time to read: +3 min

Running out of ammunition, Ukrainian soldiers are even more reliant on drones. Russian firepower is overwhelming Ukraine's military as its military aid plummets. AdvertisementWhile Ukraine's military awaits more funding, it has decided to increase its production of shells without disclosing the output. Ukraine's fight has depended on funding from Western powers, but critical military aid from the US is currently stuck in Congress. Advertisement"Meanwhile, unfortunately, the implementation of the European plan to supply one million artillery shells to Ukraine is being delayed," Zelenskyy said.

Persons: —, Avdiivka, Valery Zaluzhny, Zaluzhny, Ukraine's, Politico, Volodymyr Zelenskyy, Zelenskyy Organizations: Service, Politico, CNN Locations: Ukraine, Ukrainian, North Korea, Russia

☆ Burt's Bees sold out of its Hidden Valley Ranch-flavored lip balms in less than 24 hours
▼ + stars: | 2024-01-20 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Burt's Bees and Hidden Valley Ranch released a limited edition set of lip balms on Wednesday. It reportedly took less than 24 hours for the 4-pack kit to sell out online. AdvertisementA lot of people want to taste ranch and hot wings sauce on their lips all day, apparently. At least that's what the instant success of Burt's Bees and Hidden Valley Ranch's lip balm collaboration suggests. Related storiesThe flavors are Hidden Valley Ranch, fresh carrot, crunchy celery, and buffalo sauce.

Persons: —, they're, Fortune Organizations: Service, Burt's, Bowl

☆ Walmart raises store managers’ pay for first time in a decade, average hits $128,000
▼ + stars: | 2024-01-18 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +3 min

Now, Walmart is saying it’s going to pay the managers of those stores, charged with that huge responsibility, accordingly, with a new average salary of $128,000 a year. Walmart said Thursday it is boosting the average pay of its store managers from $117,000, or by just over 9%, the retailer announced Thursday. The company told CNN that it hasn’t made any changes to store managers’ pay structures in more than a decade, before a pandemic and all that followed subsequently, including a period of high inflation. Previously, the pay range for store managers was between $65,000 and $170,000, it said. The retailer noted that as many as 75% of its managers began their Walmart careers as hourly workers.

Persons: New York CNN —, hasn’t, ” Cedric Clark, ” Clark, “, CNN’s Nathaniel Meyersohn Organizations: New, New York CNN, Walmart, CNN, Walmart U.S, Target Locations: New York, The Minneapolis, Bentonville , Arkansas, U.S, Washington

☆ 2 Navy SEALs lost at sea were helping seize Iranian warheads being sent to the Houthis, US says
▼ + stars: | 2024-01-16 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Read previewThe two Navy SEALs who went missing off the coast of Somalia last week were helping seize Iranian weapons bound for the Houthis, the US said in a statement on Tuesday. The Navy SEALs carried out a "complex boarding" of a dhow, operating out of the USS Lewis B. Puller and assisted by helicopters and unmanned aerial drones, CENTCOM said. The statement said the boat in question was performing illegal shipments of weapons from Iran to restock Houthi fighters in Yemen. Two Navy SEALs were lost at sea during the operation, CENTCOM said, though it did not specify what happened. The fate of the missing SEALs is unclear.

Persons: —, Lewis B, Puller, CENTCOM, restock, Michael Erik Kurilla, dhow, Kurilla Organizations: Service, Navy, Business, US, Command, Associated Press, US Navy Locations: Somalia, Iran, Yemen, Red

☆ Walmart wants to use AI to restock your fridge automatically
▼ + stars: | 2024-01-10 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

Walmart is starting to use AI to figure out how often you order groceries and order them for delivery. The service will soon be part of Walmart's InHome delivery, according to its presentation at CES. Walmart customers can set up deliveries of essentials at regular intervals, a service the big box chain started offering last year. The company started offering InHome delivery in 2019. Spark's gig delivery workers aren't allowed to enter customers' homes, a point of confusion for Walmart customers who think Spark contractors make InHome deliveries.

Persons: —, Whitney Pegden, Walmart InHome, Pegden Organizations: Walmart, Service, Consumer Locations: Las Vegas

☆ How to take on the viral No Spend January trend
▼ + stars: | 2024-01-10 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +8 min

It’s also a challenge more people are taking on for shorter periods of time — such as a No Spend Week, a No Spend Weekend or No Spend Sunday — or during other months of the year. Courtesy Kate KadenKaden, who said she saves about $2,000 or more during a No Spend Month, has been able to build up her emergency fund and pay off debt. If pulling back on spending in January isn’t appealing, you can have your own No Spend Month at any point in the year. The same goes for getting off email marketing lists, unsubscribing to text promotions or deleting social media all together. Some social media influencers such as Kiersti Torok help connect others to coupons and discounts in local mailers or retail apps.

Persons: Kate Kaden, “, ” Kaden, Instagram, It’s, Kate Kaden Kaden, ” Neil Sanders, ”, isn’t, Ted Jenkin, Melissa Corriveau, “ It’s, she’s, Corriveau, it’s, you’re, Jenkin, influencer Kaden, Kaden, ” Don’t, you’d, Ramit Sethi, CNN he’s “ Organizations: CNN, GlobalData, ”, Oxygen Financial, Costco, New York Locations: Maine, “

☆ 17-year-old used $2,000 in savings to start an Amazon side hustle—now it brings in $34,000 a month
▼ + stars: | 2024-01-05 | by ( Megan Sauer | ) www.cnbc.com time to read: +5 min

Bella Lin, 17, started a side hustle to give her guinea pigs more quality of life. In those days, Lin let her three guinea pigs roam her parents' grassy, fenced-in backyard just outside of San Francisco. She assumed the first, Snoopy, had escaped and she continued letting her guinea pigs outside — until her dad watched an eagle fly away with another, she recalls. But the glass was too expensive to ship, and her smaller guinea pigs' feet got stuck in the floor. Lin has owned guinea pigs for years, and has kept up to 10 at one time, she says.

Persons: Bella Lin, Lin, GuineaLoft's, —, TLeggings, Bella Lin Lin, who'd, Lin's Organizations: CNBC, Khan Lab, Amazon Locations: San Francisco, —, Mountain View , California, China, BizWorld

☆ I made a multigenerational group of friends — from Gen Zers to Boomers — doing ski patrol
▼ + stars: | 2023-12-05 | by ( Melissa Hart | ) www.businessinsider.com time to read: +5 min

I ended up joining Backcountry Ski Patrol and making an intergenerational group of friends. Two years ago, when the dank Willamette Valley winters threatened to bury me in seasonal affective disorder, I begged Julie to teach me to cross-country ski. In the mountains near my house, I discovered not only bluebird skies above snowy slopes, but a group of multigenerational friends who inspired me to join Backcountry Ski Patrol. The members of our patrol in the Willamette National Forest span four generations, from Gen Zers to Boomers. Some of us cross-country ski.

Persons: Zers, —, Julie, she's, Gen Zers, who'd, who've, Julie Polhemus, I've Organizations: Ski, Boomers, Service, Volunteers, First Locations: Los Angeles, Oregon, Willamette

☆ Ukraine is on track to make 72 howitzers next year, but will struggle to get the ammo to use them, report says
▼ + stars: | 2023-12-05 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

That means it's on pace to make at least 72 howitzers next year, Forbes reported. But Ukraine and its allies are short of ammunition, with Ukraine limiting its firing as a result. AdvertisementUkraine is ramping up its domestic weapons production and is on track to manufacture 72 howitzers next year, but will struggle to have enough ammunition to use them, Forbes reported. Ukraine's domestic production of weapons, like the howitzers, will help to plug any gaps that emerge. But even after maximizing its howitzer production, Ukraine will struggle to have enough ammunition for them.

Persons: Forbes, —, Volodymyr Zelenskyy, Vladimir Putin Organizations: Service, NATO, EU, Politico, House Locations: Ukraine, Russia, Russian

Service centers - facilities that play a crucial role in supplying manufacturing companies nearly finished steel products - had paused purchases ahead of the United Auto Workers (UAW) union's coordinated strike against the Detroit automakers. However, many of them were soon forced to place large orders as stocks ran low and operations resumed at the carmakers. Reuters Graphics Reuters GraphicsThe automotive segment makes up about 25% of the total U.S. sheet demand, with about 65% of that attributable to the Big Three Detroit automakers in any given year, CRU data showed. Nucor Corp (NUE.N) has raised HRC prices to $950/st while U.S. Steel (X.N) recently announced a $100/st price increase, without specifying a final rate. Meanwhile, automakers stare at higher costs for a key raw material if prices extend their upward trajectory for longer.

Persons: union's, Ryan McKinley, Morgan, Philip Gibbs, Gordon Lee Johnson, Ananta Agarwal, Nathan Gomes, Arpan Varghese, Sriraj Organizations: Detroit Three, CRU Group . Service, United Auto Workers, UAW, Detroit, CRU, Reuters Graphics Reuters, Big Three Detroit, Cleveland Cliffs, HRC, Nucor Corp, U.S . Steel, KeyBanc, GLJ Research, Thomson Locations: Bengaluru

Holiday retail sales are expected to increase between 3% and 4% in 2023, according to trade group the National Retail Federation. In 2022, sales jumped 5.3%, according to the NRF. Owner Kimberley Yurkiewicz said the store had strong sales in 2021 and 2022 and sales are up again so far this year. Instead of one customer spending $200, 10 customers are spending $20 each. Then she’ll restock with gift items that can sell not only during the holidays but in January and beyond.

Persons: ”, Max Rhodes, Rhodes, Barbie, Taylor Swift, Rick Haase, Owner Kimberley Yurkiewicz, “, ” Andy Wilkerson, Heather Haynie, ” Haynie, she’s, Sierra Wallis, ” Wallis, Wallis, won’t Organizations: Holiday, National Retail Federation, Owner, Blackhawk Locations: St, Paul, Minneapolis, Minnesota, Brooklyn , New York, Charlotte , North Carolina, Charlottesville, Va, Decatur , Ga

☆ Kanye West drew a swastika at a Yeezy meeting with Adidas and told a Jewish manager to kiss a photo of Hitler, report says
▼ + stars: | 2023-10-29 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

More details of Kanye West's conduct during his partnership with Adidas were revealed by The New York Times. The rapper drew a swastika on a shoe design and told a Jewish employee to kiss a photo of Hitler, per the Times. In another detail of his troubling antisemitic behaviour, Ye told one Jewish manager at the company to kiss a picture of Hitler every day. The last Adidas Yeezy restock AdidasAdidas CEO Bjørn Gulden has defended Ye, saying that the rapper had been misunderstood. The company told the Times it had "no tolerance for hate speech and offensive behavior, which is why the company terminated the Adidas Yeezy partnership."

Persons: Kanye, Hitler, Ye, —, Adidas Yeezy, Bjørn Gulden Organizations: Adidas, The New York Times, Times, Service, New York Times, Adidas Adidas Locations: Germany

☆ Ukraine war orders starting to boost revenues for big US defense contractors
▼ + stars: | 2023-10-27 | by ( Mike Stone | ) www.reuters.com time to read: +4 min

WASHINGTON, Oct 27 (Reuters) - The Russian invasion of Ukraine in 2022 is starting to boost defense contractors' revenues, as customers such as the U.S. government restock supplies shipped to Ukraine and countries around Europe arm themselves with an eye on Moscow's aggressions. New contracts to supply Ukraine directly - or backfill U.S. weapons sent to Ukraine - were signed late last year, and now revenue is flowing to the big defense contractors. "We've gone from 14,000 (artillery) rounds per month to 20,000 very quickly. The General Dynamics' Combat Systems unit, which makes armored vehicles, tanks and the artillery Ukraine uses, saw its revenue rise almost 25% versus the same period a year ago. Third-quarter sales for Northrop Grumman's (NOC.N) Defense Systems segment rose 6% on high demand for ammunition and rocket motors used in guided multiple-launch rocket systems (GMLRS), which play a crucial role in supporting Ukraine's defense efforts against Russian forces.

Persons: Lockheed Martin, We've, Jason Aiken, Northrop Grumman's, Sweden's, Joe Biden, Biden, Dynamics's Aiken, Mike Stone, Rod Nickel Organizations: Lockheed, General Dynamics, Patriot, Palestinian, Hamas, Wall, Dynamics ', Systems, Wall Street, Russian, Sweden's Saab, Rheinmetall, Thomson Locations: Ukraine, Europe, aggressions ., U.S, Israel, Arizona, Pennsylvania, Ohio, Texas, Washington

☆ US growth boom tees up year-end bust
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

The latest report on the country's growth is worth celebrating, but not for too long. Household incomes after inflation and taxes fell by $71 billion in the third quarter, according to Pantheon Macroeconomics. That shrank in the third quarter, with managers flagging peak interest rates as a larger concern, leaving less in the pipeline. Yet stores spent $81 billion in excess inventory last quarter and are likely to wait to restock shelves. Last quarter’s boom should give way to a bust.

Persons: Lee Jae, LSEG, Ben Winck, Lauren Silva Laughlin, Sharon Lam Organizations: Rights, Reuters, Macroeconomics, Savings, Companies, X, Unilever, Thomson Locations: U.S

☆ Dollar General must pay $1 million after charging customers too much at checkout
▼ + stars: | 2023-10-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Ohio's attorney general said last year that Dollar General overcharged customers for items like groceries. Under the settlement, Dollar General will pay $750,000 to the office of Ohio Attorney General Dave Yost. Many Dollar General stores are so cluttered with merchandise that fire marshals have ordered them to close. Dollar General is taking $95 million in write-downs on surplus merchandise as well as deploying "smart teams" to stores that need cleaning up. Do you work or shop at Dollar General and have a story idea to share?

Persons: —, Dave Yost, doesn't, Hannah Hundley, NBC4 Organizations: Service, Columbus TV, Ohio, Dollar, Employment Opportunity Commission, US Occupational Safety, Health Administration Locations: Ohio, Butler, Southwestern Ohio, Columbus, The Tennessee

☆ Roche's $7 bln deal is pricey and partial cure
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

Roche tablets are seen positioned in front of a displayed Roche logo in this photo illustration shot January 22, 2016. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNEW YORK, Oct 23 (Reuters Breakingviews) - Roche (ROG.S) has taken a small step towards curing its drug pipeline problem. JPMorgan analysts estimate that the drug’s U.S. sales could peak at 2.4 billion Swiss francs ($2.7 billion), but will take until 2037 to get there, assuming a 2028 launch. Analysts expect Roche’s pharmaceutical division to generate revenue of almost 45 billion Swiss francs this year, according to estimates compiled by LSEG. With expected free cash flow of around 16 billion Swiss francs this year and next, Roche can afford to buy a little more diversification.

Persons: Roche, Dado Ruvic, Thomas Schinecker, Peter Thal Larsen, Jean, Pierre Mustier, Atos, Jonathan Guilford, Aditya Sriwatsav Organizations: REUTERS, Reuters, Pfizer, U.S, New, JPMorgan, Merck, Prometheus Biosciences, Analysts, LSEG, X, News Corp, Thomson Locations: Swiss, U.S

☆ Opinion: The people Olympic host cities don’t want you to see
▼ + stars: | 2023-10-19 | by ( Opinion David Goldblatt | ) edition.cnn.com time to read: +9 min

A Japanese policeman checks the signs to be used during the opening parade at the Olympic Games in Tokyo, 1964. Police officers stand guard at the rowing and kayak competitions venue at Lake Lanier near Gainesville, Georgia, ahead of the 1996 Olympic Games. Helsinki, which built the first permanent Olympic Village in 1952, created a successful and architecturally distinguished neighbourhood of social housing. Barcelona’s 1992 Olympic Village became the epicentre of a process of beachside gentrification and soaring house prices. Until that changes, we can expect the staging of future Olympic Games to look the same.

Persons: David Goldblatt, Read, David Goldblatt David Goldblatt, Douglas Miller, Charles Platiau, dockets, Buda Mendes, Barcelona’s, Urman Lionel, Denis Organizations: CNN, Olympic, Hulton, Getty, LAPD, Atlanta, Police, Housing Rights, Pan American Games, Rio de, City Council, Melbourne Olympic Games, Asahi Shimbun, City, Games, International Olympic Committee, Olympic Games Locations: British, Paris, Berlin, Roma, Tokyo, Moscow, Los Angeles, Lake Lanier, Gainesville , Georgia, Atlanta, Seoul, Beijing, Rio de Janeiro, Rio, Brazil, Buda, Helsinki, Melbourne, Japan, Australia, Mexico, Athens, Portakabins, London

☆ Clorox shares touch more than 5-year low on financial hit from cyber attack
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

Bottles of Clorox bleach are displayed for sale on the shelves of a Wal-Mart store in Rogers, Arkansas, June 4, 2009. Shares in Clorox last traded at $121.16 after earlier hitting a low of $119.56 and were eying their biggest one-day percentage loss since Feb. 2022. After this, Evercore ISI slashed its Clorox price target to $120 from $160 and Raymond James downgraded it to 'market perform' from 'outperform'. Bank of America cut its price target to $120 from $145 while Deutsche Bank dropped its target to $136 from $155. But, Evercore ISI analyst Javier Escalante who rates Clorox 'underperform,' voiced concerns about how long the company took to work out the financial impact.

Persons: Jessica Rinaldi, Raymond James, Anna Lizzul, Lizzul, Clorox, Javier Escalante, Escalante, Sinéad Carew, Andrew Heavens Organizations: REUTERS, ISI, Bank of America, Deutsche Bank, Thomson Locations: Rogers , Arkansas, Clorox

☆ Clorox says production sites back up after August cyberattack
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

Sept 29 (Reuters) - Clorox (CLX.N) said on Friday all its manufacturing facilities resumed operations and it is ramping up production to restock inventories after a cyberattack last month disrupted the bleach maker's business. Clorox began transitioning back to automated order processing earlier this week, the producer of Pine-Sol cleaner said, adding that it would also maximize shipping and was working to fully restore operations back to normal. It comes after the company last week warned of a material impact on its first-quarter results due to shipping delays caused by the incident. Cybersecurity attacks have also hit other companies in recent weeks. Reporting by Deborah Sophia in Bengaluru; Editing by Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.

Persons: Clorox, Deborah Sophia, Shweta Agarwal Organizations: Casino, MGM Resorts International, Caesars Entertainment, Thomson Locations: Bengaluru

☆ Swiss to sell back Leopard II tanks to help restock after Ukraine donations
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +2 min

Recruits of the Swiss army Tank School 21 perform an attack exercise with the Leopard 2 tank in Bure, Switzerland May 5, 2023. REUTERS/Denis Balibouse Acquire Licensing RightsZURICH, Sept 27 (Reuters) - Germany has welcomed a decision by neutral Switzerland to open the way to sell back some of its German-made Leopard II tanks to help rebuild stocks depleted by aid to Ukraine. Germany had asked Switzerland in February to sell back some of the 96 Leopard II tanks it has in storage to manufacturer Rheinmetall AG (RHMG.DE). He was speaking after the Swiss parliament on Tuesday approved the decommissioning of 25 Leopard II tanks, paving the way for them to be resold to Germany. Buying Swiss weapons could become difficult unless Bern adjusts its law on war materials, German ambassador Fluegger said.

Persons: Denis Balibouse, Michel Fluegger, Fluegger, Viola Amherd, John Revill, Philippa Fletcher Organizations: Swiss army Tank, REUTERS, Rights, Leopard, Rheinmetall AG, NATO, Swiss, Leopard IIs, SRF, Thomson Locations: Bure, Switzerland, Germany, Ukraine, Berlin, Bern, Kyiv, Swiss, Denmark, Spain, Europe

☆ Swiss to Sell Back Leopard II Tanks to Help Restock After Ukraine Donations
▼ + stars: | 2023-09-27 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

ZURICH (Reuters) - Germany has welcomed a decision by neutral Switzerland to open the way to sell back some of its German-made Leopard II tanks to help rebuild stocks depleted by aid to Ukraine. Germany had asked Switzerland in February to sell back some of the 96 Leopard II tanks it has in storage to manufacturer Rheinmetall AG. "We are very happy and grateful for this decision," Michel Fluegger, Germany's ambassador to Switzerland told Swiss TV. He was speaking after the Swiss parliament on Tuesday approved the decommissioning of 25 Leopard II tanks, paving the way for them to be resold to Germany. Buying Swiss weapons could become difficult unless Bern adjusts its law on war materials, German ambassador Fluegger said.

Persons: Michel Fluegger, Fluegger, Viola Amherd, John Revill, Philippa Fletcher Organizations: Leopard, Rheinmetall AG, NATO, Swiss, Leopard IIs, SRF Locations: ZURICH, Germany, Switzerland, Ukraine, Berlin, Bern, Kyiv, Swiss, Denmark, Spain, Europe

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