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You gotta pay your bills.’”NATO Secretary-General Jens Stoltenberg said that the 31 allies are committed to defending each other. Photos You Should See View All 21 Images“NATO remains ready and able to defend all allies. Under NATO’s mutual defense clause, Article 5 of its founding treaty, all allies commit help of any member who comes under attack. Article 5 has only ever been activated once – by the U.S. in the wake of the Sept. 11, 2001, attacks. NATO has undertaken its biggest military buildup since the Cold War since Russia invaded Ukraine in February 2022.

Persons: Donald Trump, Władysław Kosiniak, Kamysz, “, Trump, ”, ’ ” Trump, Jens Stoltenberg, ” Stoltenberg, Putin, ___ Cook, Kirsten Grieshaber Organizations: NATO, Republican, . Defense, ”, ’, Foreign Ministry, Frankfurter Allgemeine Zeitung, Trump, Associated Press Locations: WARSAW, Poland, U.S, Russia, Europe, Conway , South Carolina, ” Russia, NATO, Anchorage, Erzurum, Baltic, Lithuania, Latvia, Estonia, Moscow, Soviet Union, Ukraine, Ukraine’s Crimean, Brussels, Berlin

These include plans by ArcelorMittal , the world's second-largest steelmaker, to spend 2.5 billion euros to decarbonise its German steel mills, efforts that depend on now-uncertain government support. "What we're seeing here is devastating for Germany as a business location globally. Besides the 6 billion euros of steel investments, other sectors potentially affected by the court ruling include 4 billion euros in the area of microelectronics and 20 billion euros for battery cell production, according to an economy ministry paper seen by Reuters. Those have previously been estimated at 68 billion euros. "Important industries in Germany, such as chemicals or steel production, need economical energy prices," Oliver Blume, CEO of Europe's top carmaker Volkswagen (VOWG_p.DE), told Frankfurter Allgemeine Zeitung.

Persons: Olaf Scholz, Robert Habeck, Christian Lindner, Reiner Blaschek, Chancellor Olaf Scholz, Stefan Rauber, Intel INTC.O, Taiwan's, Bernhard Osburg, Oliver Blume, Christoph Steitz, Tom Kaeckenhoff, Andreas Rinke, Catherine Evans Organizations: Climate, Finance, ArcelorMittal, SHS Stahl, Reuters, IMF, Intel, TW, Infineon, Steel, BASF, Wacker Chemie, Volkswagen, Frankfurter Allgemeine Zeitung, Thomson Locations: FRANKFURT, DUESSELDORF, Berlin, Germany, Asia, United States, U.S, USA, Steel Europe

☆ China EV maker BYD to build first Europe plant in Hungary -FAS
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: +1 min

Companies BYD Co Ltd FollowFRANKFURT, Nov 4 (Reuters) - Chinese electric vehicle giant BYD (002594.SZ), plans to build its first European car factory in Hungary, a German newspaper reported on Saturday. The Frankfurter Allgemeine Sonntagszeitung (FAS), citing unnamed sources close to BYD, said the decision had already been made internally. A government website in Shenzhen, where BYD is headquartered, posted an article last month saying that Hungarian Prime Minister Viktor Orban met BYD Chairman and President Wang Chuanfu on a visit to the company. BYD, contacted by Reuters, said that it was still looking for the right location and would make an announcement at the end of the year. Reporting by Brenda Goh, Jason Xue, Krisztina Than, and Tom Sims; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Viktor Orban, Wang Chuanfu, Brenda Goh, Jason Xue, Tom Sims, Jason Neely Organizations: BYD, FRANKFURT, Frankfurter Allgemeine Sonntagszeitung, Reuters, Thomson Locations: Hungary, BYD, Shenzhen, Hungarian

☆ Fresenius to assess whether state aid impacts bonus, dividend payouts
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +2 min

Companies Fresenius SE & Co KGaA FollowFRANKFURT, Sept 30 (Reuters) - German healthcare group Fresenius (FREG.DE) said it was examining whether the state aid it received to help offset high energy costs at its hospitals business would bar it from making management bonus and dividend payments. When asked whether the company would legally challenge any ban on payouts, he said that would have to be analysed. The company paid an unchanged annual dividend of 0.92 euros a share this year, or 518 million euros in total. The spokesperson said the assessment would inform a decision on whether state aid will be accepted during the second half. The Helios unit posted earnings before interest and tax of 622 million euros in the first half against 609 million a year earlier.

Persons: Michael Sen, Sen, Helios, Ludwig Burger, Jan Harvey Organizations: Frankfurter Allgemeine, Reuters, Helios, Thomson Locations: FRANKFURT

☆ German transport minister rejects punitive tariffs in EU's China EV probe
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

An NIO ET7 car model is presented at the NIO House, the showroom of the Chinese premium smart electric vehicle manufacture NIO Inc. in Berlin, Germany August 17, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsBERLIN, Sept 25 (Reuters) - German Transport Minister Volker Wissing has rejected possible punitive tariffs as a result of the European Commission's investigation into Chinese electric vehicle (EV) subsidies. European Commission President Ursula von der Leyen this month announced a probe into whether to impose punitive tariffs to protect EU automakers against China's EV imports, which the commissions says are benefiting from excessive state subsidies. China blasted the probe as protectionist and warned that it would damage economic relations, a concern shared by Germany's car industry. German Economy Minister Robert Habeck, by contrast, has welcomed the step, saying action must be taken if massive breaches of competition rules are found by the EU probe.

Persons: Annegret, Volker Wissing, Wissing, Ursula von der, Robert Habeck, Miranda Murray, Friederike Heine Our Organizations: REUTERS, Rights, Augsburger Allgemeine, Free Democrats, EU, China's EV, Thomson Locations: Berlin, Germany, China

☆ AfD's Regional Budget Win Erodes German 'Firewall' Against Far Right
▼ + stars: | 2023-09-15 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +3 min

By Thomas EscrittERFURT, Germany (Reuters) - The convention by which Germany's far right is kept far from government regardless of how many parliamentary seats it wins was dealt another blow on Thursday when its votes were used to defeat a regional government in a crucial budget bill. Thursday's vote in Thuringia's parliament, when the far right, the conservative Christian Democrats and the pro-business Free Democrats combined to push through a tax cut against the wishes of the left-wing coalition, is the latest sign of change. But, highlighting the dilemma, the regional CDU leader Mario Voigt said such a course of action would effectively deprive him of the right to oppose. The party's regional leader, Bjorn Hoecke, is currently on trial for hate speech after uttering a slogan that stems from a Nazi chant. "We democrats have to stop the finger-pointing, sit down together and find a position that lives up to that responsibility."

Persons: Thomas Escritt, Germany's, Bodo Ramelow, Mario Voigt, Bjorn Hoecke, Stephan Kramer, Daniel Guenther, Rachel More, Nick Macfie Organizations: Christian Democrats, Free Democrats, CDU, Frankfurter Allgemeine Locations: Thomas Escritt ERFURT, Germany, Thuringia's, Thuringian, Sonneberg, Saxony, Anhalt, Thuringia, East Germany, West Germany, Brandenburg, Berlin, Schlweswig, Holstein

AfD members sit in voting booths on the day of the European election assembly 2023 of the Alternative for Germany (AfD) in Magdeburg, Germany, July 29, 2023. Thursday's vote in Thuringia's parliament, when the far right, the conservative Christian Democrats and the pro-business Free Democrats combined to push through a tax cut against the wishes of the left-wing coalition, is the latest sign of change. But, highlighting the dilemma, the regional CDU leader Mario Voigt said such a course of action would effectively deprive him of the right to oppose. The party's regional leader, Bjorn Hoecke, is currently on trial for hate speech after uttering a slogan that stems from a Nazi chant. "We democrats have to stop the finger-pointing, sit down together and find a position that lives up to that responsibility."

Persons: Annegret, Germany's, Bodo Ramelow, Mario Voigt, Bjorn Hoecke, Stephan Kramer, Daniel Guenther, Thomas Escritt, Rachel More, Nick Macfie Organizations: REUTERS, Rights, Christian Democrats, Free Democrats, CDU, Frankfurter Allgemeine, Thomson Locations: Germany, Magdeburg, Rights ERFURT, Thuringia's, Thuringian, Sonneberg, Saxony, Anhalt, Thuringia, East Germany, West Germany, Brandenburg, Berlin, Schlweswig, Holstein

☆ Chip shortage in Germany's car industry will last years - Audi manager
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

[1/3] Cars are pictured during morning rush hour on the A100 city highway in a Berlin, Germany, February 22, 2018. REUTERS/Fabrizio Bensch/File PhotoBERLIN, Aug 11 (Reuters) - Semiconductor shortages that have created bottlenecks for Germany's car industry will take years to resolve despite chipmakers' plans to build factories in the country, a senior Audi manager was quoted as saying on Friday. Executives and policymakers are re-thinking supply lines and trying to reduce reliance on a handful of Asian and U.S. chip suppliers. Chipmakers such as U.S. Intel (INTC.O) and Taiwan's TSMC (2330.TW) this year announced plans to build factories in Germany. It's about billions of dollars are being invested," Renate Vachenauer, head of procurement at Volkswagen-owned (VOWG_p.DE) Audi, was quoted as saying by Augsburger Allgemeine newspaper.

Persons: Fabrizio Bensch, chipmakers, Taiwan's TSMC, Renate Vachenauer, Vachenauer, Riham Alkousaa, Cynthia Osterman Organizations: REUTERS, Semiconductor, Audi, Intel, Volkswagen, Augsburger Allgemeine, Thomson Locations: Berlin, Germany, U.S

CNN —A glistening, curved building of blue tiles and panels in metallic hues, the Pears Jewish Campus (PJC) will be Germany’s biggest Jewish educational and cultural center when it opens its doors in Berlin on Sunday. The "Tree of Life" light installation in the entrance is reflected in the ceiling of the Pears Jewish Campus. Rabbi Yehuda Teichtal, right, and artist Tobo, left, spray paint on a graffiti wall on the campus. When he met Tchoban a few years ago, he told the architect of his dream to have a Jewish educational center. “(The PJC) is a new stage of the 1,700 (year) history of Jewish life in Germany,” he said.

Persons: ”, Yehuda Teichtal, Monika Skolimowska, Tobo, Tobias Friesike, ” Teichtal, Rabbi Yehuda Teichtal, Markus Schreiber, Sergei Tchoban, Teichtal, Tchoban, Josef Schuster, “, PJC hasn’t Organizations: CNN, Sunday, Jewish Education, Kondius AG, Jewish Allgemeine, Allgemeine, Central Council of Locations: Berlin, Germany, ” Berlin, ”, Israel, Brooklyn , New York, Auschwitz

☆ Bild: Germany's biggest newspaper is cutting 20% of jobs as it prepares for an AI-powered digital future
▼ + stars: | 2023-06-21 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

Axel Springer, which publishes Germany’s biggest-selling daily newspaper, told employees in an email Tuesday that the newspaper would cut six of its 18 regional editions, and close two-thirds of its regional offices. The company plans to produce Bild’s regional newspapers, and manage its regional reporters, from Berlin in the future, it said. According to German newspaper Frankfurter Allgemeine, about 200 jobs will be cut. Axel Springer would not confirm the exact number of layoffs to CNN, but it said the figure would be in the “low three-digit[s].” Bild currently employs about 1,000 people. “AI will soon be able to completely take over the layout of the printed newspaper,” the company added.

Persons: Axel Springer, Mathias Döpfner, Axel Springer’s, ” Axel Springer Organizations: London CNN, CNN, Frankfurter Allgemeine, Bild Locations: Berlin

☆ A third of young men in Germany think violence against women is ‘acceptable,’ study finds
▼ + stars: | 2023-06-11 | by ( Sophie Tanno | ) edition.cnn.com time to read: +2 min

CNN —A third of young men in Germany find it acceptable to use violence against women, according to a new survey which has caused outrage among gender equality campaigners. The survey was commissioned by children’s charity Plan International Germany. A group of 1,000 men and 1,000 women aged 18-35 from across Germany were asked to give their views on masculinity for the study, which was carried out online. The survey also found that expectations within a relationship differed greatly between men and women. A German group called the Federal Organization for Equality wrote on Twitter that the findings were “shocking.”“According to a survey by Plan International Germany, every third young man finds violence against women ‘acceptable’.

Persons: –, ” Karsten Kassner Organizations: CNN, Westdeutsche Allgemeine Zeitung, Federal Organization, Equality, Twitter, Plan International Germany, Federal, Federal Criminal Police Locations: Germany, femicide, Europe

☆ Carlsberg agrees to pay 50 million euro fine in German price-fixing case
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, May 3 (Reuters) - Danish brewer Carlsberg (CARLb.CO) has reached a settlement with German authorities and agreed to pay a 50 million-euro ($55 million) fine over the alleged formation of a cartel more than a decade ago. It said it refuted the allegations but had settled in order to focus on its core business of brewing beer. "We confirm that Carlsberg Deutschland Holding GmbH has reached a settlement in this case, which has been ongoing for 11 years and required an enormous amount of time and financial resources," Carlsberg's head of communications, Tanja Frederiksen, said in a statement. "We still strongly disagree with the charges and maintain our innocence, but we have taken this decision in order to be able to fully focus again on the future of Carlsberg Deutschland Holding GmbH," Frederiksen said. The case was concluded on Tuesday at the Düsseldorf Higher Regional Court, Carlsberg said.

Two of Germany's largest airports, Munich and Frankfurt, suspended flights, while long-distance rail services were cancelled by rail operator Deutsche Bahn (DBN.UL). "Millions of passengers who depend on buses and trains are suffering from this excessive, exaggerated strike," a Deutsche Bahn spokesperson said on Monday. At the same time, in France they go on strike all the time about something," said passenger Lars Boehm. The head of the Bundesbank Joachim Nagel said last week Germany needed to avoid a price-wage spiral. "Despite signs of second-round effects, we have not observed a destabilising price-wage spiral in Germany so far."

☆ Audi CEO: IRA subsidies make prospect of building U.S. plant "highly attractive"
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +2 min

Chief Executive Markus Duesmann said that a decision had not yet been made but that the IRA made it far more attractive to build electric vehicles (EVs) in the United States. Asked whether Audi would build a plant itself or do so together with other Volkswagen brands, Duesmann said: "Both are possible. But a growing number of firms are now announcing heightened investment in the United States over Europe in light of the IRA, worrying European officials. Volkswagen is also upgrading its Mexican plants in Puebla and Silao to starting building EVs, motors and related components by mid-decade. Volkswagen is due to lay out in March how it will rejig its production network worldwide to scale up EV production.

☆ Co-chief of Germany's ruling SPD sceptical of NATO spending goal
▼ + stars: | 2023-02-19 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Feb 19 (Reuters) - The co-chief of Germany's ruling Social Democrats (SPD) is sceptical about NATO's goal for each member to spend 2% of economic output on defence, according to a newspaper report, underscoring ambivalence in the country about bolstering the military. The party of Chancellor Olaf Scholz did recently commit to the 2% NATO goal, but as with junior coalition partner the Greens, has members who remain unconvinced. According to FAZ, Esken expressed scepticism about the efforts of Defence Minister Boris Pistorius, also of the SPD, to hike defence spending in next year's budget. "Ten billion euros (more) is a lot of money," she was quoted as saying. Germany's regular 2023 defence budget was around 50 billion euros ($53.5 billion), well short of 75 billion euros, or 2% of economic output.

☆ Nestle to hike food prices further in 2023, CEO says
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +1 min

Feb 4 (Reuters) - Nestle (NESN.S) will have to raise prices of its food products further this year to offset higher production costs that it has yet to fully pass on to consumers, Chief Executive Mark Schneider told a German newspaper. The increases will not be as steep as they were in 2022, but "we have some catching up to do over the full year," Schneider was quoted as telling Frankfurter Allgemeine Zeitung in an interview due for publication on Sunday. In the first nine months of 2022, the world's biggest food group, which makes KitKat chocolate bars and Nescafe reported organic sales growth of 8.5%, of which price rises accounted for 7.5 percentage points. Inflation in many developed economies has been running at multi-decade highs, driven in large part by increases in prices of food and energy. Reporting by John Stonestreet; Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

FRANKFURT, Jan 31 (Reuters) - A top-10 shareholder of Bayer (BAYGn.DE) on Tuesday called on the group's supervisory board head to replace chief executive Werner Baumann quickly, adding to investor pressure to restore trust and revive the German drugmaker's sagging share price. But shareholders have also cited a lack of market trust in its top management as a growing burden. "When it comes to CEO succession we say: the sooner the better," Markus Manns, a portfolio manager at Union Investment, one of Bayer's 10 biggest shareholders, told Reuters. Union Investment's Manns cautioned that the non-executive supervisory board may need time to find a qualified candidate. A Bayer spokesperson said the company was always open to a constructive dialogue with shareholders and declined to comment further.

☆ Bayer investor calls for swift replacement of CEO -newspaper
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Jan 28 (Reuters) - Bayer (BAYGn.DE) investor Deka has called for CEO Werner Baumann to be replaced ahead of his scheduled departure, adding to mounting pressure on the German drugmaker. "There is a window of opportunity for Chairman Norbert Winkeljohann to act before the annual general meeting at the end of April. He has to seize that opportunity, otherwise the pressure on him will increase as well," Speich added. "Generally speaking we are always open to a constructive dialogue with our stakeholders," a Bayer spokesperson said, declining to comment specifically on the interview. Another activist investment fund, hedge fund veteran Jeffrey Ubben's Inclusive Capital Partners, said this month it had also acquired a stake in Bayer.

☆ German defence minister resigns amid criticism, pressure over Ukraine arms
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +4 min

Lambrecht asked Scholz to dismiss her, as formally required, and he has approved, a spokesperson for the Social Democratic (SPD)-led coalition government said. During a visit to arms manufacturer Hensoldt, Scholz thanked Lambrecht for her service and said he would act fast to replace her. Among the candidates mooted by German media are Parliamentary Commissioner for the Armed Forces Eva Hoegl, junior defence minister Siemtje Moeller, SPD party chief Lars Klingbeil and Labour Minister Hubertus Heil. Economy Minister Robert Habeck praised Lambrecht for her ambition to reform the Bundeswehr and said her decision would not have been taken lightly. Associated with this were for me many special impressions, many encounters with interesting, great people," Lambrecht said in the video.

☆ German Defence minister resigns, successor to be announced promptly
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +3 min

Lambrecht asked the chancellor to dismiss her, as formally required, and Scholz has accepted it, a government spokesperson said. The chancellor would propose a successor promptly, the person added, refusing to comment on names. Parliamentary Commissioner for the Armed Forces Eva Hoegl, junior defence minister Siemtje Moeller, SPD party head Lars Klingbeil and Labour Minister Hubertus Heil have been suggested as candidates by German media. The Frankfurter Allgemeine Zeitung newspaper said, citing government sources, that a successor would be announced on Tuesday. Marie-Agnes Strack-Zimmermann, the head of Germany's parliamentary defence committee and a member of Scholz's junior coalition partner Free Democrats (FDP), called for her successor to be installed quickly.

☆ Germany falls to bottom rung of investment ranking on energy costs, labour shortage
▼ + stars: | 2023-01-15 | by ( ) www.reuters.com time to read: 1 min

Jan 15 (Reuters) - Germany's attractiveness as an investment location has fallen four places to 18th of 21 in a ranking of industrial economies by economic research institute ZEW, newspaper Augsburger Allgemeine reported on Monday. Rising energy costs and ongoing labour shortages have compounded existing problems of high taxes, complex bureaucracy and slow pace of innovation, the study said, bumping Germany down the list with only Hungary, Spain and Italy below it. The Mannheim-based institute ranked the United States, Canada, Sweden and Switzerland for reasons from cheaper energy in the U.S. and Sweden to access to capital and a well-functioning state in Switzerland. Reporting by Victoria WalderseeOur Standards: The Thomson Reuters Trust Principles.

☆ German minister reignites coalition row with call to review nuclear exit
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Jan 2 (Reuters) - Germany's transport minister called for an expert committee to examine whether the lifespan of the country's nuclear plants should be extended, reopening a row within Chancellor Olaf Scholz's coalition. But Free Democrat Transport Minister Volker Wissing reignited the argument, telling the Frankfurter Allgemeine that the environmental benefits of electric cars would be reduced unless they were charged using nuclear energy, which is emissions-free. Critics of the nuclear exit say it could force Germany to rely more than planned on coal, which is more polluting than gas, during the transition to renewable energy. The Greens strongly oppose revisiting Germany's nuclear exit, which was introduced in response to the 2011 disaster at Japan's Fukushima nuclear plant. Advocates of the policy say an extension would be costly and that more can be achieved by building out renewables.

☆ Infineon ready to spend billions on acquisitions - CEO
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +1 min

MUNICH, Dec 28 (Reuters) - Infineon (IFXGn.DE) is ready to spend several billion euros on the right takeover target as it searches for acquisitions, Chief Executive Jochen Hanebeck said in an interview published on Wednesday. The German chip maker is constantly "on the lookout" for suitable companies, Hanebeck told Frankfurter Allgemeine Zeitung (FAZ). "I see it in the range of up to a few billion (euros)." In its fiscal year through September 2022, Infineon posted a rise in revenue by nearly 30% to 14.2 billion euros ($15.1 billion), while segment profit jumped 63% to 3.4 billion euros. It is quite conceivable that start-ups that are not sufficiently well financed, for example, would want to join a corporation, Hanebeck told FAZ.

☆ German finance minister eyes new growth package -FAZ
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Dec 27 (Reuters) - German Finance Minister Christian Lindner has tasked his officials with preparing a growth package including lowering income and corporation tax, the Frankfurter Allgemeine Zeitung (FAZ) daily reported on Tuesday, citing an internal document. The document sets out what it describes as a "turning point in economic and financial policy" for Europe's biggest economy for the next two years, reported the newspaper. Arguing that Germany had fallen behind and that high energy prices, caused in part by Russia's invasion of Ukraine, had put German companies under pressure, the document said state money was not a solution in the long run. "We cannot counter this challenge in the long run with more state money and industrial policy subsidies," the FAZ quoted the document as saying. In concrete terms, reported the FAZ, the document set out the case for a general reduction in income and corporation tax and also contained proposals for the labour market and social security.

☆ ECB must be ready to take the heat and raise rates more, Schnabel says
▼ + stars: | 2022-12-24 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Dec 24 (Reuters) - The European Central Bank must be prepared to take the heat and raise interest rates further, including by more than the market expects, if that is needed to bring down inflation, ECB policymaker Isabel Schnabel said in an interview published on Saturday. The ECB raised rates for a fourth straight time last week and hinted at further hikes - jolting euro zone bond markets and triggering a backlash from the Italian government. "Whether we will still need to go higher than that will depend on the future inflation outlook," she told German newspaper Frankfurter Allgemeine Zeitung. She added that the ECB will focus on medium-term inflation expectations, rather than current readings, and saw little risk of raising borrowing costs too far at present given that real interest rates are still very low. Schnabel said the ECB should weather the pressure.

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