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☆ Anxious about layoffs? A simple strategy can help you cope, says mental health pro: 'It takes less than 5 minutes'
▼ + stars: | 2024-01-26 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

It's been another brutal week for layoffs across various industries as dozens of big-name companies and media properties announce job cuts. If you're reading the headlines and wondering if you might be next, you're not alone. Eighty-five percent of Americans are worried they'll lose their jobs in 2024, according to a recent MyPerfectResume survey of nearly 2,000 people. Confronting your feelings is the best way to proceed, says Christopher Hansen, a licensed professional counselor with Thriveworks in San Antonio, Texas. There's a simple strategy you can use to cope, though, according to Hansen — and even better, he adds, "it takes less than five minutes."

Persons: It's, they'll, Christopher Hansen, I've, they're, Hansen, Hansen — Locations: San Antonio , Texas

☆ How the three-year cruise fell apart
▼ + stars: | 2024-01-20 | by ( Julia Buckley | ) edition.cnn.com time to read: +22 min

CNN —In April 2023, George Fox was gearing up for the adventure of a lifetime: a three-year cruise taking him around the world. The high hopes and eventual failure of the Life at Sea cruise reads a bit like a Greek tragedy. When Miray objected, he resigned, along with much of his team, and told passengers the cruise was off. When the cruise was canceled in November, Bayramoğlu told passengers that only 111 cabins were booked. On October 24, Miray’s PR spokesperson told CNN that the departure date had been moved to November 30.

Persons: CNN —, George Fox, “, ”, ‘, Miray, who’d, Meredith Shay, Shay, she’d, Jenny Phenix, I’d, Mikael Petterson, Petterson, “ I’ve, Ethem, Miray’s, “ Vedat, ’ ”, Vedat, Cruises, hadn’t, Kendra Holmes –, –, Petterson –, they’d, Bayramoğlu, Sharon Lane, she’s, ” Shay, ” Holmes, Marit Hommedal, NTB Scanpix, Noel Hansen, Kendra Holmes, Hansen, ’ ” Hansen, ’ Rebecca Varner, Lorna Bolduc, Rebecca Varner, Holmes, Bonnie Kelter, Kelter, Varner, Ugurlu, Phenix, “ I’m, couldn’t, ’ George Fox, he'd, Bolduc, Miray’s Bayramoğlu, ” Miray, who’s, ” Hansen Organizations: CNN, Fox, Miray Cruises, Cruises, Passengers, Gemini, Carnival, Facebook, Life, Getty, US Foreign Service, ‘, Miray’s, ”, Miray Locations: Istanbul, ’, Turkey, Florida, Germany, Bayramoğlu, Petterson, AFP, Clermont , Florida, Costa Rica, New Jersey, Maine, that’s, Miami, Europe, Ecuador, Southern Florida

☆ A critical climate goal may be ‘deader than a doornail,’ and scientists are bitterly divided over it
▼ + stars: | 2024-01-18 | by ( Laura Paddison | ) edition.cnn.com time to read: +10 min

“Anybody who understands the physics knows that.”Hansen’s words have heft — he is widely credited as the first scientist to publicly sound the alarm on climate change in the 1980s. Climate change is fueling storms in both the summer and winter. The year came within a whisker of breaching 1.5 degrees, according to data from the Copernicus Climate Change Service. “For all practical purposes we are only going to be looking at 1.5 degrees in the rearview mirror,” he said. Why 1.5 mattersFew scientists will dispute that the world faces a daunting path to limit warming to 1.5 degrees.

Persons: James Hansen, Lauren Owens Lambert, I’ve, Jim, ”, Michael Mann, Hansen, Friederike Otto, “, it’s, Niño, Hurricane Idalia, Joe Raedle, ” Otto, –, Storm Daniel, Karim Sahib, Bill McGuire, ” McGuire, Chris Smith, El Niño, Mann, Samantha Burgess, Copernicus, Otto said, ’ ” Smith, “ we’ve, McGuire, Otto Organizations: CNN, Getty, University of Pennsylvania, Imperial College London’s Grantham Institute, “, United, Hurricane, University College London, University of Leeds Locations: Hampton , New Hampshire, AFP, United States, Europe, Tarpon Springs , Florida, Paris, Libya's, Derna, kilter

☆ Novozymes CEO is confident its merger with Chr. Hansen will close in Q1
▼ + stars: | 2024-01-17 | 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 EmailNovozymes CEO is confident its merger with Chr. Hansen will close in Q1Novozymes CEO Ester Baiget discusses the Danish biotechnology company's planned combination with with fellow biotech firm Chr.

Persons: Hansen, Ester Baiget Organizations: Chr Locations: Danish

The latest calculations from several science agencies showing Earth obliterated global heat records last year may seem scary. Former NASA climate scientist James Hansen, often considered the godfather of global warming science, theorized last year that warming was accelerating. That’s 0.27 degrees (0.15 degrees Celsius) warmer than the previous record set in 2016 and 2.43 degrees (1.35 degrees Celsius) warmer than pre-industrial temperatures. NASA and the United Kingdom Meteorological Office had the warming since the mid-19th century a bit higher at 2.5 degrees (1.39 degrees Celsius) and 2.63 degrees (1.46 degrees Celsius) respectively. It’s the third time in the last eight years that a global heat record was set.

Persons: Nature, ”, Katharine Jacobs, Gavin Schmidt, El, NASA's Schmidt, Schmidt, Samantha Burgess, Europe's, Burgess, James Hansen, Daniel Swain, Russ Vose, Jennifer Francis, Katharine Hayhoe, Randall Cerveny, “, ” Cerveny, Natalie Mahowald, “ I've, Kim Cobb, ” ___ Read, Seth Borenstein Organizations: Associated Press, University of Arizona, El Nino, Service, NASA, AP, UCLA, U.S . National Oceanic, Administration, NOAA’s National Centers for Environmental, United Kingdom Meteorological Office, . Records, World Meteorological Organization, Climate Research, Conservancy, NOAA, Arizona State University, WMO, Cornell University, The Associated Press Locations: British, El, Paris, Brown, AP.org

☆ NASA delays crewed Artemis moon missions into 2025 as companies navigate challenges
▼ + stars: | 2024-01-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

NASA is pushing back the schedule for upcoming missions of its flagship Artemis lunar program by about a year as the agency's contractors work to finish technology needed to return U.S. astronauts to the moon's surface. Artemis 2 — with a four-person crew, which NASA announced last spring — was previously planned to launch in November, while Artemis 3 had been targeting December 2025. The pair of missions are set to follow the uncrewed Artemis I mission that flew in 2022. The Artemis program represents a series of missions with escalating goals, aiming to return astronauts to the lunar surface for the first time since the Apollo era. Nelson's comments confirm reporting by CNN and Reuters that NASA would be pushing out the schedule for the program.

Persons: Artemis, Reid Wiseman Victor Glover, Christina Koch, Jeremy Hansen, Bill Nelson, —, Lockheed Martin, Elon, Jeff Bezos Organizations: NASA, Artemis, CNN, Reuters, Boeing, Northrop Grumman, Lockheed, SpaceX, Collins Aerospace, SpaceX's Locations: U.S

☆ Gold posts weekly decline as dollar, yields climb
▼ + stars: | 2024-01-05 | by ( ) www.cnbc.com time to read: +2 min

Spot gold rose 0.1% to $2,044.21 per ounce after falling and then rising by about 1% earlier in the session. "First, the nonfarm payrolls data came in stronger than expected, due to which we saw some pressure applied to gold ... Both the U.S. dollar and 10-year Treasury yields hit their highest levels in three weeks, heading for their best weeks since July and October, respectively. On the physical front, gold buying in major consumer India rose this week, as domestic prices fell back from record highs. Palladium fell 0.9% to a three-week low of $1,027.11 in its ninth consecutive session of declines and was down 6.4% on the week.

Persons: David Meger, Saxo, Ole Hansen Organizations: Singapore Gold, Institute for Supply Management, High, U.S ., U.S . Federal Locations: Singapore, India

☆ Crown Princess Mary Elizabeth: Why Denmark will give the world the first Australian-born Queen
▼ + stars: | 2024-01-02 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +8 min

Brisbane, Australia CNN —The fairy tale rise of an Australian sales executive to the upper ranks of European royalty is set to be completed Sunday when Crown Princess Mary Elizabeth of Denmark becomes the country’s Queen Consort. Margrethe’s eldest son, Crown Prince Frederik, will become King, while his wife, Crown Princess Mary, will become the first Australian to become Queen, a development that has delighted her supporters back home. Crown Prince Frederik of Denmark and Australian born Crown Princess Mary Elizabeth Donaldson married in May 2004. I will hand over the throne to my son Crown Prince Frederik,” Margrethe said. Danish Crown Princess Mary photographed during the Copenhagen Fashion Week Autumn/Winter 18 on January 30, 2018 in Copenhagen, Denmark.

Persons: Crown Princess Mary Elizabeth of, Consort, Queen Margrethe II, It’s, hasn’t, King Eric III, Margrethe’s, Crown Prince Frederik, Crown Princess Mary, it’s, King, Mary, Prince Frederik of Denmark, Princess Mary Elizabeth Donaldson, Bjarke, Jeremy Rockliff, Princess Mary, ”, King Frederik, ” Rockliff, Prince Christian, “, –, Queen of, Prince Frederik, ” Margrethe, ” Kristian Ring, Hansen Holt, Juliet Rieden, Margrethe, Queen Elizabeth II, Queen Margrethe, Reiden, Prince Joachim, Princess Marie, didn’t, Rieden, Frederik, she’d, Christian Vierig, She’s, she’s, Prince Frederik’s, Genoveva Casanova, Casanova, ‘, Britain’s King Charles III, ” Reiden Organizations: Australia CNN, Crown, Royal House, Getty Images Tasmanian, CNN, Ukraine, ABC, Australian, Monarchs, Copenhagen Cathedral, Mary Foundation, Lecturas, Royal, of State, CNN’s Royal Locations: Brisbane, Australia, Crown Princess Mary Elizabeth of Denmark, Tasmania, Denmark, Sydney, Danish, Copenhagen, Hobart, AFP, Gaza, Queen of Denmark, Scottish, British, Houston , Texas, Europe, Mexican, Spanish, Christiansborg Palace, Mary

☆ Pleo appoints new CFO as it looks to get in shape for IPO
▼ + stars: | 2023-12-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Danish fintech firm Pleo has appointed a new chief financial officer, the company told CNBC exclusively, beefing up its executive team — a sign the company is readying itself for an eventual initial public offering. Most notably, Lonning had experience as CFO at Danish food enzyme maker Chr Hansen. Chr Hansen, which is listed on the Danish stock exchange, is one of Denmark's most valuable publicly listed firms, with a market cap of more than $10 billion. The European Union recently approved a $22 billion merger between Chr Hansen and competitor Novozymes. That's a dilemma for companies, but even more so for the lifestyle of Pleo and tech companies."

Persons: Pleo, Soren Westh Lonning, Chr Hansen, Lonning, Novozymes Organizations: CNBC, Danish bioscience, WS Audiology, Danish, European Union

LONDON (AP) — You won’t see Tom Hanks on one of those space tourism flights that whisk celebrities and millionaires on a suborbital jaunt for a few hours. “I think I’d need a little bit longer in paradise.”Going to the moon is another matter – and the subject of “The Moonwalkers,” an immersive documentary co-written and narrated by Hanks. Political Cartoons View All 1277 ImagesVisitors sit on benches surrounded by imagery as the 50-minute film brings NASA’s Apollo space missions to life. His performance as Jim Lovell, commander of a space mission in jeopardy, in “Apollo 13” helped revive popular interest in the Apollo program in the 1990s. What hooked Hanks on space was not so much the cutting-edge science as the human drama.

Persons: Tom Hanks, ” Hanks, “, Hanks, Artemis, ”, Christopher Riley, John F, Kennedy, Jim Lovell, he’d, John Wayne, Jason, humanity’s, Reid Wiseman, Victor Glover, Christina Koch, Jeremy Hansen, Glover, “ It’s, ” Koch Organizations: Associated Press, Argonauts, Artemis, Kennedy Space Center Locations: London, British, China, India

☆ Tom Hanks brings love of space to new immersive London show
▼ + stars: | 2023-12-05 | by ( Marie-Louise Gumuchian | ) www.reuters.com time to read: +3 min

[1/3] Tom Hanks poses at "The Moonwalkers: A Journey With Tom Hanks" immersive show at the Lightroom venue in London, Britain in this undated handout photo obtained by Reuters on December 5, 2023. Justin Sutcliffe/Lightroom/Handout via REUTERS Acquire Licensing RightsLONDON, Dec 5 (Reuters) - Archive footage of space rockets taking off beam across giant walls in a new immersive show in London, as Hollywood actor Tom Hanks narrates the story of human voyages to the moon. "The Moonwalkers: A Journey With Tom Hanks" looks at the first moon landings of the Apollo missions from 1969 to 1972 and their successor, NASA's human spaceflight program, Artemis. Hanks played space commander Jim Lovell in the 1995 film "Apollo 13", about the troubled space mission which was forced to abort a planned moon landing after an oxygen-tank explosion. But I think I need a little bit more time up there to ponder the infinite universe.”"The Moonwalkers: A Journey With Tom Hanks" runs December 6 - April 21, 2024.

Persons: Tom Hanks, Justin Sutcliffe, Artemis, Oscar, Hanks, Victor Glover, Jeremy Hansen, Glover, Hansen, Christina Koch, Reid Wiseman, We've, Jim Lovell, I'd, Marie, Louise Gumuchian, Sharon Singleton Organizations: Reuters, REUTERS Acquire, Thomson Locations: London, Britain, Handout, London's King

“Each decade since the 1990s has been warmer than the previous one and we see no immediate sign of this trend reversing,” its secretary-general, Petteri Taalas, said. Experts are divided about one of the most important metrics: The rate of warming. University of Pennsylvania climate scientist Michael Mann has argued warming has been steadily increasing since 1990, but isn't speeding up. He warned that such warming is fueling increasingly dangerous extreme weather events, coastal flooding and many other “disastrous” impacts. Glaciers in Papua, Indonesia are likely to disappear altogether within the next decade,” WMO said.

Persons: Petteri Taalas, James Hansen, Michael Mann, ” Mann, ” Organizations: United Arab Emirates, United Nations, World Meteorological Organization, WMO, NASA, Warming, University of Pennsylvania, ” WMO, AP Locations: DUBAI, United Arab, Dubai, Papua, Indonesia, “, Africa, Kenya, Kilimanjaro, Greenland, Antarctica

NEW YORK (AP) — Broadway audiences will soon be hearing the hit songs of Alicia Keys — not far from where the multiple-Grammy-winner grew up. “Hell's Kitchen,” the semi-autobiographical musical by the singer-songwriter, is making the move uptown from off-Broadway to the Shubert Theatre this spring. The musical features Keys’ best-known hits: “Fallin’,” “No One,” “Girl on Fire,” “If I Ain’t Got You,” and, of course, “Empire State of Mind,” as well as four new songs. “Hell's Kitchen,” in a way, is a full-circle moment for the Keys' family. In 2011, she was a co-producer of the Broadway play “Stick Fly,” for which she supplied some music.

Persons: Alicia Keys —, “, Maleah Joi Moon, Keys, ”, Kristoffer Diaz, Michael Greif, Evan Hansen, Camille A . Brown, Ali, ” Keys, Neil Diamond, ” “, Britney Spears, Elton John, Cyndi Lauper, Sting, Alanis Morissette, Dave Stewart, Edie Brickell, David Byrne, Fatboy Slim, Bono, ___ Mark Kennedy Organizations: Shubert Theatre, Associated Press, Broadway, of, New York University, Yorker, Guardian Locations: Chad, New York City, Toledo , Ohio, New York, Moulin Rouge

☆ Ron DeSantis is running the Iowa playbook — and hoping that’s what still counts
▼ + stars: | 2023-12-02 | by ( Alec Hernández | Bianca Seward | ) www.cnbc.com time to read: +8 min

Ron DeSantis' campaign is announcing the completion of a longtime campaign pledge Saturday: touring all of Iowa's 99 counties, a milestone for a campaign that has devoted significant resources to the first-in-the-nation contest. On paper, DeSantis has made significant strides in running a traditionally successful Iowa campaign, racking up influential endorsements and dedicating significant time, personnel and financial resources to the state. And while the DeSantis campaign, with significant super PAC help, has stayed focused on Iowa, it remains unclear just what the traditional Iowa playbook counts for in this unusual modern campaign against Trump. "Winning an Iowa caucus requires a strong combination of outworking and out-organizing the competition and that's been the Ron DeSantis model. Inside the sprint to the caucusesStill, the DeSantis playbook in Iowa hardly stops at the "Full Grassley."

Persons: Ron DeSantis, Scott Olson, Sen, Chuck Grassley, Donald Trump, Nikki Haley, DeSantis, haven't, Biden, Sparks, Newsom, Trump, Former Pennsylvania Sen, Rick Santorum, Texas Sen, Ted Cruz, Mike Huckabee, Santorum, Michele Bachmann, Ryan Binkley, Red Oak, Iowa Sen, Joni Ernst, —, Grassley, Andrew Romeo, that's, Kim Reynolds, Bob Vander Plaats, Reynolds, Vander, Iowans, Haley, Joe Biden, She's, Olivia Perez, David Hansen, Hansen, Tim Scott Organizations: Florida, Machine, Getty, Florida Gov, United Nations, Iowa, NBC, White, Trump, Presidential, Former Pennsylvania, Republican, NBC News, Des Moines Register, Prosperity, Waterloo Locations: Davenport , Iowa, Newton , Iowa, Florida, Arizona, Iowa, Former, Texas, Iowa's, Wright, Des Moines, Red, New Hampshire, Iowa , New Hampshire, South Carolina, Ron DeSantis ' Iowa, Midwest, Plainfield

More than 8,000 people, mostly Native Hawaiians, perished at Kalaupapa, including Damien, who eventually contracted leprosy, later called Hansen’s disease. Damien’s love for Kalaupapa’s people was unconditional, said Barbara Jean Wajda of the Sisters of St. Francis of the Neumann Communities. “They keep me like this, make me strong.”She enjoys when people visit and when the church brings pilgrims, she said. The walls of the sisters' house, Kalaupapa’s largest dwelling, are filled with photos of the sisters who worked on the settlement after Marianne. “And we both feel connected to the patients, to the land, to the saints who were here, declared and undeclared,” Wajda said.

Persons: Saint Damien of Molokai, Kalaupapa’s, Damien’s, ”, Lance Toyofuku, ” Kalaupapa, Father Damien, Mother Marianne —, Alicia Damien Lau, Damien, Joseph De Veuster, Saint Marianne, Patrick Killilea, “ Fr, Paddy, “ It’s, Philomena, Barbara Jean Wajda, Francis, Lau, ” Marianne Cope, Marianne, Tonata Lolesio, ” Lolesio, “, Honolulu Bishop Larry Silva’s, Silva, didn’t, that’s, Wajda, Francis Church, she’s, Watanuki, ” Bishop Silva, ” Keani Rawlins, Fernandez, Mother Marianne, Marianne . Lau, Alicia, ” Wajda, ” They’ve Organizations: Toyota, National Park Service, St, Neumann, Sacred Hearts School, Honolulu Bishop, “, Associated Press, Maui County Council, Lilly Endowment Inc, AP Locations: KALAUPAPA, Hawaii, Kalaupapa, Molokai, Belgian, Hawaii’s, Honolulu, Belgium, Germany, Maui, Lahaina, American Samoa, Maui County

UNCHARTED WATERS Airlines Race Toward a Future of Powering Their Jets With Corn Carriers want to replace jet fuel with ethanol to fight global warming. Corn 2022 N.D. MINN. WIS. S.D. Corn 2022 N.D. MINN. WIS. S.D. Corn 2022 N.D. MINN. WIS. S.D. Corn 2022 N.D. MINN. WIS. S.D.

Persons: “, ”, Jeffrey Broberg, Biden, Jake Wildman, Wildman, Lauren Riley, Amelia DeLuca, Todd Becker, United’s, Seager, et, Roy Stoltenberg, It’s, “ It’s, Mr, Stoltenberg, John, Stoltenberg douses, Megan Konar, Matt Jennen, midcentury, we’ve, Chad Friese, I’m, John Hansen, Mary, sighed Organizations: Jets, Carriers, Minnesota Well, Organization, United Airlines, Delta, New York Times, Farmers, IOWA NEB, MINN, Water Resources Research, Department of Agriculture, ”, U.S . Department of Agriculture Economic Research Service, Aviation, Delta Air Lines, Ethanol Company, University of Illinois, Ethanol, ” Industry, Nebraska Farmers Union, Sunrise, Reserve Locations: America, Ohio, Washington, Minnesota, Nebraska, MINN, WIS, MICH, IOWA, IOWA NEB . OHIO, . MO, KAN . MO, KAN, In Kansas, Glenwood, Minn, ”, Japan, Germany, U.S, Chippewa, Benson, Omaha, ., KAN ., Cairo, Neb, Iowa, Wisconsin, University of Illinois Urbana, Champaign, Wood, China, Foxhome, Platte, . Nebraska

A constitutional court ruling on Nov. 15 against a budget manoeuvre to get around Germany's "debt brake" threw the financial plans of Chancellor Olaf Scholz's coalition into disarray. "As I have long been saying, we must fear that the debt brake becomes ever more a brake on the future," said Berlin mayor Kai Wegner on social media platform X. "The debt brake was implemented when Europe had a debt sustainability issue and Germany wanted to lead by example," he said. "With the debt brake as it is, we have voluntarily tied our hands behind our backs and are going into a boxing match," he said. The Greens' campaign programme ahead of the last election included debt brake reform to allow for greater investments.

Persons: Olaf Scholz, Robert Habeck, Christian Lindner, Chancellor Olaf Scholz's, Reiner Haseloff, Haseloff, Kai Wegner, Friedrich Merz, Carsten Brzeski, Roderich Kiesewetter, Stefan Marschall, Andreas Rinke, Sarah Marsh, Matthias Williams, Holger Hansen, Nick Macfie Organizations: Climate, Finance, BERLIN, U.S, Intel, Reuters, AAA, Christian Democratic Union, CDU, Christian Social Union, CSU, Berlin, Free Democrats, Social Democrats, Greens, ING, SPD, University of Duesseldorf, Thomson Locations: Berlin, Europe's, Ukraine, Saxony, Anhalt, United States, Bavarian, Federal, Germany, Europe, France, Italy, Spain, China

The court ruling has called into question Germany's traditionally strict fiscal policy and sparked warnings that German companies could be starved of support to keep them globally competitive. HANDS TIEDThe crisis has sparked calls for reforming the debt brake. "With the debt brake as it is, we have voluntarily tied our hands behind our backs and are going into a boxing match," he said. A poll by broadcaster ZDF suggested only a minority of Germans supported suspending the debt brake. Some 57% wanted the budget shortfall from the court ruling to be covered by spending cuts, 11% favoured tax increases and 23% wanted the state to take on additional debt.

Persons: Olaf Scholz, Robert Habeck, Christian Lindner, Scholz, Lindner, Habeck, Steffen Hebestreit, Holger Hansen, Christian Kraemer, Miranda Murray, Rene Wagner, Matthias Williams, Toby Chopra, Gareth Jones, Deepa Babington Organizations: Climate, Finance, BERLIN, Greens, Social Democrats, Free Democrats, FDP, ZDF, Thomson Locations: Germany, Europe's, East Germany, China

Lindner plans to lift self-imposed limits on borrowing and present a supplementary budget next week after a constitutional court ruling wiped billions from the federal budget and forced the government to freeze most new spending commitments. HANDS TIED IN A BOXING MATCHThe crisis has sparked calls for reforming the debt brake. "With the debt brake as it is, we have voluntarily tied our hands behind our backs and are going into a boxing match. A poll by the broadcaster ZDF suggested only a minority of Germans, 35%, supported suspending the debt brake however, compared to 61% wanting it to stay in place. Some 57% wanted the budget shortfall from the court ruling to be covered by spending cuts, 11% favoured tax increases and 23% wanted the state to take on additional debt.

Persons: Christian Lindner, Lindner, hawkish Lindner, Chancellor Olaf Scholz's, Robert Habeck, Habeck, Thomas Gitzel, Holger Hansen, Christian Kraemer, Miranda Murray, Rene Wagner, Matthias Williams, Toby Chopra Organizations: BERLIN, German Finance, Greens, ZDF, Bank, Thomson Locations: Germany, China, Europe

The court ruling has called into question Germany's traditionally strict fiscal policy and sparked warnings that German companies could be starved of support to keep them globally competitive. The debt brake, introduced after the global financial crisis of 2008/09, was first suspended in 2020 to help the government support firms and health systems during the COVID-19 pandemic. HANDS TIEDThe crisis has sparked calls for reforming the debt brake. "With the debt brake as it is, we have voluntarily tied our hands behind our backs and are going into a boxing match," he said. A poll by broadcaster ZDF suggested only a minority of Germans supported suspending the debt brake.

Persons: Christian Lindner, Fabrizio Bensch, Scholz, Olaf Scholz, Lindner, Robert Habeck, Habeck, Steffen Hebestreit, Holger Hansen, Christian Kraemer, Miranda Murray, Rene Wagner, Matthias Williams, Toby Chopra, Gareth Jones Organizations: REUTERS, BERLIN, Finance, Greens, ZDF, Thomson Locations: Berlin, Germany, Europe's, East Germany, China

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

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

☆ Pressure mounts on German government to find way out of budget hole
▼ + stars: | 2023-11-22 | by ( Holger Hansen | ) www.reuters.com time to read: +4 min

The court ruled the budget manoeuvre was incompatible with the debt restrictions enshrined in Germany's constitution. The pressure is even more intense as talks for next year's budget are on the final stretch. Highlighting the gravity of the situation, the government has already imposed a freeze on most new spending commitments on ministries. "German industry is looking at the current political situation with the greatest concern," said Siegfried Russwurm, president of the BDI industry association. One obstacle to reforming the debt brake, which restricts Germany's structural budget deficit to the equivalent of 0.35% of gross domestic product, has been Finance Minister Christian Lindner.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Chancellor Olaf Scholz's, Siegfried Russwurm, Holger Hansen, Christian Kraemer, Andreas Rinke, Madeline Chambers, Miranda Murray, Alex Richardson Organizations: Finance, Climate, Europe's, Social Democrat, Greens, Free Democrats, Fund, Reuters, Ukraine, Greens Economy, U.S, Intel, European, Thomson Locations: BERLIN, reallocating, Berlin, Ukraine

Their options include drawing up a supplementary budget for 2023 and suspending Germany's self-imposed debt brake before reinstating it for next year. "Our goal is to discuss the budget quickly but with due care," said a joint statement of ruling party lawmakers. The delay has heightened uncertainty about spending in all areas of the German economy and meant the 2024 budget might not be concluded before the end of the year. "I firmly assume that the commitments for Intel and TSMC will remain," a government source said, adding: "This is very important to the chancellor, as well as to the economy minister." This will happen in the course of next early 2024 and we will see how far hydrogen is available," CEO Miguel Lopez said.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Olaf Scholz's, Scholz's, Siegfried Russwurm, TSMC, Scholz, Miguel Lopez, Holger Hansen, Christian Kraemer, Victoria Waldersee, Andreas Rinke, Madeline Chambers, Matthias Williams, Miranda Murray, Alex Richardson, Christina Fincher Organizations: Finance, Climate, Government, Ukraine Industry, Intel, TSMC, Wednesday, Social Democrat, Greens, Free Democrats, Fund, Eurasia Group, U.S, BMW, Volkswagen, Thomson Locations: TSMC BERLIN, Germany's, Ukraine, EU, Saxony, Anhalt, Berlin, Germany

☆ SpaceX Starship: What’s next for the most powerful rocket ever built
▼ + stars: | 2023-11-21 | by ( Jackie Wattles | ) edition.cnn.com time to read: +14 min

CNN —Mere moments after SpaceX’s Starship system — the most powerful rocket ever built — was lost in a test flight Saturday, a somewhat complicated narrative around the vehicle began to emerge. “What we did today will provide invaluable data to continue rapidly developing Starship,” SpaceX said Saturday in a statement. SpaceX's mega rocket Starship launches for a test flight from Starbase in Boca Chica, Texas, on Saturday, November 18, 2023. The Starship spacecraft was then able to ignite its own engines and break away from the Super Heavy rocket booster to continue the mission. SpaceX's Starship rocket prototypes are seen at the SpaceX Starbase in Brownsville, Texas, on August 19, 2023.

Persons: CNN —, Artemis III —, Bill Nelson, SpaceX, —, Eric Gay, John Insprucker, Elon Musk, Jim Watson, Wayne Hale, they’ve, ” Hale, “, They’ve, ”, SpaceX’s, Christina Hammock Koch, Victor Glover, Reid Wiseman, Jeremy Hansen, Wiseman, Glover, Hammock Koch, Hansen, Artemis, Bill Ingalls, Hale, Jeff Bezos, Lakiesha Hawkins, ” Hawkins, NASA isn’t, Apollo Hale, Neil A, Armstrong, Michael Collins, Edwin E, Aldrin Jr, ” What’s, Veronica Cardenas, Reuters It’s Organizations: CNN, SpaceX, NASA, China, Super, International Astronautical, Getty, FAA, CSA, Canadian Space Agency, Orion, Planetary Society, SLS, Origin, Blue, Kennedy Space Center, Saturn, Earth, ” CNN, Reuters, Federal Aviation Administration Locations: Starbase, Boca Chica , Texas, Baku, Azerbaijian, Boca Chica, South Texas, AFP, Texas, Washington, Florida, “, SpaceX’s, Brownsville , Texas

☆ Germany freezes new spending commitments as budget woes deepen
▼ + stars: | 2023-11-21 | by ( Holger Hansen | ) www.reuters.com time to read: +3 min

Chancellor Olaf Scholz speaks next to Finance Minister Christian Lindner and Economy and Climate Minister Robert Habeck during a hearing at Germany’s lower house of parliament Bundestag in Berlin, Germany, November 15, 2023. The finance ministry has frozen future spending pledges across almost the entire federal budget, a letter by the budget state secretary showed, in a sign of how seriously it was taking the potential fallout to its finances. "The step reflects the necessity of the situation," an economy ministry spokesperson said about the budget freeze. That could include planned chip factories, the expansion of the battery supply chain and the decarbonisation of steel, government sources said on Monday. ($1 = 0.9168 euros)Additional reporting by Andreas Rinke; writing by Matthias Williams and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Annegret, Freeze, Olaf Scholz's, Kevin Kuehnert, that's, Kuehnert, Volker Wissing, Wissing, Andreas Rinke, Matthias Williams, Sharon Singleton Organizations: Finance, Climate, REUTERS, BERLIN, Free Democrats, Democrats, CDU, Scholz's Social Democrats, Greens, Digital, Thomson Locations: Berlin, Germany, Ukraine

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