DIRS.INFO The most relevant business & tech news

☆ Chinese electric carmakers ramp up push overseas, setting up clash with U.S., European auto giants
▼ + stars: | 2023-09-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Arjun Kharpal | CNBCMunich, GERMANY — The IAA in Munich, Germany is one of Europe's most high-profile auto shows. And it was dominated by Chinese electric car firms looking to expand their presence on the continent and challenge incumbents from BMW to Ford in the new era of battery-powered vehicles. But a slowing market at home, due to tepid consumer spending after Covid-19 restrictions were lifted, coupled with an attractive market in Europe, has seen Chinese firms launch cars abroad and expand their footprint. Many of the European carmakers have been seen lagging in their push into EVs at a time when Chinese players have launched dozens of new vehicles. watch nowThe entrance of Chinese firms into Europe is seen as a threat to big automakers who have been perceived to be moving too slow on EVs.

Persons: BYD, Arjun Kharpal, Daniel Roeska, Roeska, Zhu Jiangming, Warren Buffett, Xpeng, Brian Gu, Gu, Bernstein, Tesla, Mercedes, Xpeng's Gu Organizations: CNBC, BMW, Ford, EV, Bernstein Research, Leapmotor, Tesla, IAA Locations: Europe, Munich, Germany, CNBC Munich, GERMANY, China, Hangzhou, Norway, Sweden, Denmark, Netherlands, Guangzhou, EVs

☆ BMW, Mercedes launch biggest EV push yet to catch Tesla with new models
▼ + stars: | 2023-09-04 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

BMWMUNICH, Germany — BMW and Mercedes are making their biggest push yet into electric cars in a bid to fend off rising competition from Chinese players and catch up with U.S. giant Tesla . On Saturday, rival BMW showed off the "Vision Neue Klasse," another electric concept car that highlights the company's EV ambitions. This is the companies' biggest push yet toward a new platform for the electric vehicle era. Tesla commanded 20% of the global EV market in the second quarter, followed by 15% for BYD, according to Counterpoint Research. GTI Concept electric vehicle at the IAA show, and said a production version of the car is scheduled to hit the road in 2027.

Persons: Warren Buffett, BYD, Elon Musk's Tesla, Mercedes, Ola Kallenius, Kallenius, CNBC's Annette Weisbach, Oliver Zipse, CNBC's Arabile, Zipse, Daniel Roeska, Roeska, Tesla Organizations: BMW, IAA, BMW MUNICH, Mercedes, IAA Mobility, Benz, Analysts, Bernstein Research, CNBC, Tesla, BYD, Research, U.S ., EV, Volkswagen Locations: Munich, Germany, Tesla, China

☆ SpaceX, NASA launch four astronauts from four countries
▼ + stars: | 2023-08-26 | by ( Jackie Wattles | ) edition.cnn.com time to read: +9 min

The crew is riding aboard the SpaceX Crew Dragon Endurance capsule on the mission, dubbed Crew-7. “Space travel is difficult, but you make it look easy,” Moghbeli dispatched to SpaceX mission control from the Crew Dragon capsule after launch. The Crew-7 astronauts will spend about five days taking over operations from the SpaceX Crew-6 astronauts, who have been on the space station since March. The Crew-7 astronauts represent the most internationally diverse SpaceX crew to date. After reaching the space station, the Crew-7 astronauts will bid farewell to the SpaceX Crew-6 astronauts, who will return home aboard their spacecraft, the Crew Dragon Endeavour, in the coming days.

Persons: NASA’s, NASA’s Jasmin Moghbeli, Andreas Mogensen, Satoshi Furukawa, Konstantin Borisov, Roscosmos, ” Moghbeli, We’re, ”, Furukawa, Borisov, —, “, Moghbeli, Baldwin, I’ve, Russia’s, I’m, Boeing’s, ” Mogensen, ” Furukawa, Loral O’Hara, Oleg Kononenko, Nikolai Organizations: CNN —, SpaceX, NASA’s Kennedy Space Center, European Space Agency, Japan Aerospace Exploration Agency, JAXA, NASA, ESA, Massachusetts Institute of Technology, Naval Postgraduate School, Marine Corps, Soyuz, Copenhagen International School, Imperial College London, University of Texas, Surrey Space Centre, University of Tokyo, Russian Soyuz Locations: Florida, Danish, Russian, Bad Nauheim, Germany, Frankfurt —, New York, Long, Monterey , California, United States, Russia, Ukraine, Copenhagen, United Kingdom, Austin, Surrey, Kanagawa, Japan, Tokyo

☆ Opinion: Russia capitalizes on Niger coup while US stands idly by
▼ + stars: | 2023-08-12 | by ( David A. Andelman | ) edition.cnn.com time to read: +8 min

Two weeks ago, a military junta suddenly deposed Niger’s pro-American, democratically elected president. Already at least one leader of the Niger junta has met with Wagner representatives in neighboring Mali, where Wagner has developed a firm presence. Given the stakes, the initial responses by those who support Niger’s ousted president have been ill-considered and anemic. But the Wagner-supported ruling juntas in two of Niger’s neighbors immediately pledged to join with Niger’s military in fending off any such invasion, calling it a “declaration of war” against them. All have been grounded since Niger’s junta declared the entire country a no-fly zone.

Persons: David A, Niger’s, David Andelman, Wagner, Yevgeny Prigozhin, Vladimir Putin, Mohamed Bazoum, Bola Tinubu, Tinubu, ECOWAS’s, didn’t, Bazoum, Germany —, Putin, Antony Blinken’s, Victoria Nuland Organizations: CNN, French Legion of, The New York Times, CBS News, American, David Andelman CNN, Central African, West African States, ECOWAS, Wall Street, US, African Union, NATO, Russian, Wagner Group, Faustin, Twitter, Niger’s Locations: United States, Africa, Russia, Niger, Mali, Central African Republic, Sudan, Burkina Faso, African, Niamey, Sahel, South Asia, Afghanistan, East, North Africa, France, Italy, Germany

☆ Epic OneWater Brew: The beer made from recycled shower water
▼ + stars: | 2023-08-01 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +7 min

More states, including Arizona, Colorado, Florida, New Mexico and Washington, are in the process of updating their water reuse regulations. In 2017, two California-based brewers produced limited-edition beers made from recycled water, to serve at local events. “When I got into the water industry, there was a lot of often-repeated tropes that the general public was just not ready for recycled water,” he says. There’s a mental perception that recycled water is not as clean as other sources of water. “You’re going to start hearing a lot more about a lot of different industries using recycled water for their products.

Persons: ”, Aaron Tartakovsky, Germany —, it’s, ” Tartakovsky, “, Cleantec, Tartakovsky, David Sedlak, Sedlak, Daniel McCurry, McCurry, “ You’re Organizations: CNN, Berkeley Water Center, University of California, Civil, Environmental Engineering, University of Southern Locations: San Francisco, Germany, California, Texas, Arizona , Colorado , Florida, New Mexico, Washington, Southern California, Singapore, Australia, Berkeley, University of Southern California, San Diego

☆ This Heat Wave Has Become Dangerous for the Elderly
▼ + stars: | 2023-07-20 | by ( Matthew Cullen | ) www.nytimes.com time to read: +1 min

An onslaught of heat waves — across the Southern U.S., as well as much of Europe and the Middle East — have elevated average global temperatures to historic highs. Extended exposure to the sweltering heat can be a potential health risk for anyone, particularly those who do outdoor work. But medical experts say that older adults are uniquely vulnerable. In the heat wave that spread across Europe in the summer of 2022, people age 65 and older accounted for approximately 90 percent of heat-related deaths. Governments in southern Europe are now trying to take extraordinary steps.

Organizations: Southern Locations: Southern U.S, Europe, Germany

Mr. Biden has authorized the shipment of cluster munitions, controversial within the alliance, to fill the gap until more shells can be produced for Ukrainian artillery — and, though it was left unsaid, to better be able to destroy Russians in their deeply dug trenches. The concern is that the munitions create a post-conflict hazard much like land mines. “Duds” that are scattered around the battlefield can explode years later, often when children pick them up. Mr. Sullivan noted on Friday that signatories to the treaty cannot ship them to Ukraine or help the United States in doing so, but he said that they did not vocally oppose Mr. Biden’s decision. In fact, Mr. Biden has received more criticism from some members of his own party than from the members of the treaty.

Persons: Vladimir V, Putin, Mr, Biden, Jake Sullivan, Biden’s, Germany —, Sullivan Organizations: NATO, Cluster Munitions Locations: Moscow, Russia, Britain, France, Germany, United States, Ukraine

☆ The Contentious U.S.-China Relationship, by the Numbers
▼ + stars: | 2023-07-07 | by ( Ana Swanson | More About Ana Swanson | ) www.nytimes.com time to read: +6 min

The U.S.-China Business Council estimated that U.S. exports to China supported nearly 1.1 million jobs in the United States in 2021. Also in the survey, 46 percent of American companies thought that U.S.-China relations would deteriorate in 2023, while only 13 percent thought they would improve. Personal and cultural connectionsThe United States is home to nearly 2.4 million Chinese immigrants, making it the top destination for Chinese immigrants worldwide. China had more than 80,000 movie screens by late 2021, compared with roughly 39,000 in the United States. Air carriers are running only 24 flights a week between the United States and China, compared with about 350 before the pandemic.

Persons: Janet L, Yellen, Germany —, China’s, Long, ByteDance, Maheshwari, Nicole Sperling Organizations: Economic, International Monetary Fund, Initiative, China . Trade, China Business Council, United, Commerce Department, Financial, American Chamber of Commerce, Columbia University Locations: China, United States, Beijing, U.S, Canada, Mexico . U.S, The U.S, Japan, Britain, Germany, China’s, American, Comscore

☆ I bought a $62,200 house in Italy that I'm planning to move into full-time. The home prices are so low I bought a second house — and may buy more.
▼ + stars: | 2023-07-01 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +6 min

She bought another home with her brother to use as a rental, and may buy another with her sister. I have my primary house in Mussomeli, and then together, my brother and I bought a second house. That's why we bought the second house, and my sister and I are looking at a third house right now. Lorrah MintonWhat needed to be paid at closing for my primary house was a 10% deposit and the agency fee, which is generally 4% of the purchase price. But if someone said you can get this 3,000-square-foot, six bedroom, two kitchen, beautiful house for 70,000 euros, I'd say, "Done."

Persons: Lorrah Minton, —, Minton, I've, it's, It's, there's, I'm, they're, someone's Organizations: Service Locations: Italy, Sicily, Mussomeli, American, China, Amsterdam, Paris, Germany, —, California

☆ Opinion: What Germany’s most famous trans woman could teach us about queer joy
▼ + stars: | 2023-06-13 | by ( Opinion Samuel Huneke | ) edition.cnn.com time to read: +7 min

Talking about queer persecution in the past gave activists a language with which to combat queer persecution in the present. But the relentless focus on queer persecution — while politically necessary — often has the unfortunate effect of shunting to the side an equally important history of queer joy. In my own research on sexuality in modern Germany, queer joy also appears in the unlikeliest of places. Reports from the Gestapo, the Nazis’ feared secret police, chronicled monthly fetes attended by hundreds of Berliners: queer women and trans men sporting elegant evening coats, queer men and trans women dressed to the nines in flowing gowns. Understanding how and why trans, queer, gay, bi and lesbian people were and are persecuted is vital to recognizing and combating oppression of all sorts today.

Persons: Samuel Huneke, Huneke, Samuel Huneke Hugh Ross, ’, Harvey Milk, revel, ”, John Boswell, George Chauncey, Germany —, Charlotte von Mahlsdorf, Sally Bowles, fetes Organizations: George Mason University, Democracy, State, CNN, Pride Month, Briggs Initiative, Initiative, Gay, Stasi, Gestapo, Twitter, Facebook Locations: Europe, States, Liberation, Cold, Germany, Nazi Germany, York, East Germany, Nazi

☆ Germany is finally focusing on defending NATO, but its military 'lacks almost everything' it needs to do it, a former German general says
▼ + stars: | 2023-05-07 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

That's the warning from a former German general who argues that Germany must refurbish its badly neglected armed forces — though this will take years to accomplish. Today, the German military is just 183,000-strong, and it can't meet its recruiting goals. In 2020, German defense spending was only 1.4% of GDP, well short of 2% goal that NATO members have pledged to hit by 2024. "Armament procurement concentrated on armored transport vehicles rather than on battle tanks and infantry fighting vehicles," Vad writes. RONNY HARTMANN/AFP via Getty ImagesDespite years of calls by France for pan-European defense, coordinating German defense procurement with other EU states — each with distinct military needs and political priorities – is difficult.

☆ Pentagon Speeds Up Tank Timeline for Ukraine but Resists Calls for Jets
▼ + stars: | 2023-04-21 | by ( Helene Cooper | ) www.nytimes.com time to read: +1 min

RAMSTEIN AIR BASE, Germany — Ukrainian troops will begin training on American M1 Abrams tanks in Germany in the next few weeks, U.S. defense officials say, in what would be a major step in arming Kyiv as it seeks to seize back territory from Russia. Defense Secretary Lloyd J. Austin III announced the timeline on Friday during a meeting with allies at Ramstein Air Base. Defense officials said that about 31 tanks were expected to arrive in Germany to begin a training program for Ukrainian troops that is expected to take 10 weeks. Combat-ready tanks could reach the battlefields in Ukraine by the fall, said the officials, who spoke on the condition of anonymity to discuss security matters. But the United States stood firm in its refusal to supply Ukraine with F-16 fighter jets.

Berlin CNN —Nationwide strikes in Germany — the biggest the country has seen in decades — are causing disruption at the country’s biggest port, airports, and on public transport Monday. The walkouts have been called by two major transport unions in Europe’s biggest economy. Flights at eight major airports, including those in Munich, Frankfurt and Hamburg, have been affected by the strikes. And some hubs such as Munich Airport closed their doors entirely, with 200,000 passengers impacted by the two-day closure that started Sunday. Sina Schuldt/dpa/picture alliance/Getty ImagesIn Munich, the local transport operator MVV has announced the suspension of nearly all trains, underground and tram lines.

☆ Another Stock Market Crash Coming, Wall Street's Top Investors Warn
▼ + stars: | 2023-02-22 | by ( Linette Lopez | ) www.businessinsider.com time to read: +12 min

This elation has lulled Wall Street into a false sense of security, according to the investing world's elite who I've spoken with over the past few weeks. It's like all the good little boys and girls on Wall Street asked for a rally for Christmas and got it. He added that nonprofessional retail investors' strong return to the market indicated an unsustainable rally. Anytime Wall Street has forgotten that over the past year, it has gotten punished. And that means Wall Street will eventually have to open its eyes, take its fingers out of its ears, and watch this bear-market rally fall apart.

☆ A CIO who helps oversee $98 billion details how to invest in the winners of China's reopening in an environment where the wider stock market will struggle to break even for the rest of the year
▼ + stars: | 2023-02-22 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

Jimmy Chang, the CIO of Rockefeller Capital Management, believes the best case scenario for stocks in 2023 is to trade sideways. Despite this, he says there's ample opportunities to be found as the Chinese economy reopens. He defines "old economy" stocks as those in more traditional industries like industrials and commodities, as well as those that directly benefit from global aging demographics, such as healthcare and life sciences. While utilities and consumer staples stocks are also typically more recession-proof, Chang believes that valuations are currently too high for both sectors. "I would rather participate in this Chinese rebound through the resource market, for example, owning commodities," he explained.

☆ I flew on the giant Airbus A380 for the first time ever. Here are the 8 coolest things about Singapore Airline's version of the world's largest airliner.
▼ + stars: | 2023-02-12 | by ( Taylor Rains | ) www.businessinsider.com time to read: 1 min

This is known as a "fifth freedom" right, which allows an airline of one nation to transport travelers between two other states — but only as long as the airline's home country is the starting or ending point. Other airlines have these routes too. KLM Royal Dutch Airlines uses a Boeing 787 (like the one pictured) between Amsterdam and Santiago, Chile, via Buenos Aires, Argentina. Fasttailwind/Shutterstock.comI flew on a unique 'fifth freedom' route from New York to Singapore via Germany — here's what that means and why airlines do it

☆ The claim by a discredited journalist that the US secretly blew up the Nord Stream pipeline is proving a gift to Putin
▼ + stars: | 2023-02-09 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +6 min

Once-celebrated journalist Seymour Hersh made unproven claims the US blew up the Nord Stream pipelines. In Russia, Hersh's story was immediately greeted with a sense of vindication. Biden had said he opposed opening the Nord Stream 2 pipeline and saying the US could "bring an end to" it if Russia invaded Ukraine. The invasion did take place, and officials in Germany — where the pipeline was due to pump its gas — axed the project before Nord Stream 2 moved any gas. Nord Stream 1 kept pumping until the explosion.

☆ I flew on a unique 'fifth freedom' route from New York to Singapore via Germany — here's what that means and why airlines do it
▼ + stars: | 2023-01-22 | by ( Taylor Rains | ) www.businessinsider.com time to read: 1 min

The first freedom is the right of one country to grant airlines of another to fly in its airspace without landing, while the second allows landing in a foreign territory for "non-traffic purposes," like emergency landings. An Avianca flight from Bogota to London had to divert to Portugal due to an engine malfunction in September. AviancaSource: ICAO, An expert explains what would've happened if United flight 328 experienced its scary engine failure over the ocean

☆ The UK recession will be almost as deep as that of Russia, economists predict
▼ + stars: | 2023-01-04 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — The U.K. economic contraction of 2023 will be almost as deep as that of Russia, economists expect, as a sharp fall in household living standards weighs on activity. This is set to be followed by a 0.9% expansion in 2024, the lender anticipates. This will be followed by a 1.8% expansion in 2024, Goldman figures suggest. Germany — the next worst performer among major economies after Russia and the U.K. — is expected to see a 0.6% contraction this year, then expand by 1.4% next year. Goldman's projections for the U.K. are below what it cites as a market consensus that sketches a 0.5% contraction in 2023 and a 1.1% expansion in 2024.

☆ Tesla reports 1.31 million deliveries in 2022, growth of 40% over last year
▼ + stars: | 2023-01-02 | by ( Lora Kolodny | ) www.cnbc.com time to read: +4 min

Tesla just published its fourth-quarter vehicle production and delivery report for 2022. Total deliveries Q4 2022: 405,278Total production Q4 2022: 439,701Total annual deliveries 2022: 1.31 millionTotal annual production 2022: 1.37 millionDeliveries are the closest approximation of sales disclosed by Tesla. These numbers represented a new record for the Elon Musk-led automaker and growth of 40% in deliveries year-over-year. In its third-quarter shareholder presentation, Tesla wrote: "Over a multi-year horizon we expect to achieve 50% average annual growth in vehicle deliveries. Shares of Tesla started to rise again in the final days of December 2022, in anticipation of record fourth-quarter and full-year deliveries.

MAINZ, Germany — A 97-year-old woman who worked as a secretary at a Nazi concentration camp was convicted by a German court Tuesday of being an accessory to the murder of more than 10,000 people. In what could be the last trial of its kind, Irmgard Furchner — dubbed the ‘secretary of evil’ by German media — was handed a two-year suspended sentence for helping the Stutthof concentration camp to function during World War Two. That's in line with what prosecutors had sought, while survivors of the death camp and relatives of victims who appeared as joint plaintiffs also said that it was not in their interest for the 97-year-old to serve any time in prison. Furchner was charged with “aiding those in a position of responsibility at the former Stutthof concentration camp with the systematic killing of those imprisoned there, due to her work as a shorthand typist/secretary in the Camp Commandant’s Office between June 1943 and April 1945,” according to a court press release. In Germany proof of intent is required for criminal liability.

☆ European Central Bank set for 50 basis point rate hike on hopes that inflation has peaked
▼ + stars: | 2022-12-14 | by ( Annette Weisbach | ) www.cnbc.com time to read: +1 min

Quantitative tightening, or QT, could see the ECB shrink its gigantic bond portfolio. "We expect the ECB to raise its policy rates by 50 bp at the December meeting," said Michael Schumacher, an ECB watcher with Natixis, in a recent research note. "We also expect an announcement of Quantitative Tightening next year, though the ECB is unlikely to provide a specific start date at this point." Another hot topic for the ECB's Governing Council, which concludes its meeting Thursday with a press conference, will, of course, be inflation and possible peak inflation. "While Inflation likely peaked in October, we see core inflation lingering above 5% until mid 2023 before trending lower," said Anatoli Annenkov at Societe Generale in a recent research note.

David Beckham, England — World Cup (1998, 2002 and 2006)Nate: The uncontainable aura of a man who transcended the sport and captured the world’s eyes. Eusebio, Portugal — (World Cup 1966)Nate: Rising high by the crowd that carries him; adored by Benfica, adored by Portugal, adored by the whole world. Zlatan Ibrahimović , Sweden (World Cup, 2002 and 2006)Nate: An ever present mythos … seemingly reversing time whilst being a journeyman through it. Lionel Messi, Argentina — (World Cup, 2006, 2010, 2014 and 2018)Nate: Ladies and gentlemen … It’s Lionel Messi. Socrates, Brazil — (World Cup, 1982 and 1986)Nate: Philosopher by name … glory that belongs in the Colosseum.

☆ Tesla, Volkswagen, and GM might be using metal from factories linked to forced Uyghur labor, researchers say
▼ + stars: | 2022-12-09 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Major car makers are at high risk for exposure to forced Uyghur labor, according to new research. The alleged use of forced labor could disrupt efforts to ethically decarbonize the global supply chain. Other industries, like solar panel manufacturers, have recently been revealed to have similar ties to Uyghur labor. "We reject forced labor and all forms of modern slavery including human trafficking," said Volkswagen. A Honda spokesperson told Insider that it "expects our suppliers to follow our Global Sustainability Guidelines with respect to labor."

MAINZ, Germany — Authorities in Germany arrested 25 people on Wednesday who are suspected of planning to violently overthrow the government in a far-right extremist plot. It is centered on the so-called Reichsbürger, or Reich Citizens, movement which is motivated by conspiracy theories about the role and legitimacy of the modern German state. The homes of a further 27 people suspected of being members or supporters of the group have been searched. The German armed forces have been beset by a series of scandals involving personnel belonging to far-right groups. German prosecutors note, however, that there is no evidence Russian officials reacted positively to the request.

Search resuls for: "Germany —"

25 mentions found