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Niclas Füllkrug arrived early at the Adidas campus just outside Herzogenaurach, a picture-postcard town in Bavaria that was to host the German national team before this summer’s European soccer championships. The staff had been told that players would start arriving on a Monday morning, a few days before their opening game. He had decided to make the 300-mile journey from his home in Hanover by high-speed train on Germany’s national railway carrier, Deutsche Bahn. But years of failure to invest in rolling stock, upgrade railways and digitalize signal boxes have made Deutsche Bahn notorious for delays and cancellations. He spent the journey fielding their questions about life with the national team.
Persons: Niclas Füllkrug, , Füllkrug Organizations: Adidas, German, Deutsche Bahn Locations: Bavaria, European, Hanover
The European Union has agreed to a new raft of economic sanctions against Russian individuals and companies, the Belgian government said on Thursday. Notably, they include measures aimed at squeezing Russia’s profits from the sale of liquefied natural gas to E.U. countries stopped importing natural gas that arrived by pipeline from Russia immediately after the full-scale invasion of Ukraine in February 2022. But the bloc had refrained from initiating any formal sanctions against Russian gas imports, leading many E.U. The latest action includes measures targeting imports of Russian L.N.G.
Organizations: European Union, of Locations: Belgian, Russia, Ukraine, Russian, E.U, of Europe
CNN —When it comes to Celine Dion’s ongoing treatment for stiff person syndrome, a rare neurological condition, the singer says she’s starting to feel like a new day is coming. Dion spoke at a screening of “I Am: Celine Dion” in New York that was also live streamed at an event in Los Angeles, which CNN attended. Stiff person syndrome (SPS) is “a rare, progressive syndrome that affects the nervous system, specifically the brain and spinal cord,” according to the National Institute of Neurological Disorders and Stroke. Dion announced in 2022 that she was diagnosed with the condition and that she was taking time off from professional commitments to focus on her health. “This movie is a love letter to each of you and I hope to see you all again very soon.”“I Am: Celine Dion” will be available to stream on Prime Video on June 25.
Persons: Celine Dion’s, she’s, Dion, Amanda Piquet, Celine Dion ”, Piquet, , , ” Dion, I’ve, – René, Charles, Nelson, Eddy –, Love Organizations: CNN, National Institute of Neurological Disorders Locations: New York, Los Angeles
The fight over Elon Musk’s pay package and the vote over whether to move Tesla’s headquarters to Texas have been the main focus of attention ahead of the company’s shareholders meeting on Thursday, but not for investors from Nordic countries. Tesla’s major shareholders in Sweden, Denmark and Norway are instead looking to the meeting to bring the issue of labor rights at the automaker to the fore. Behind the campaign is the strike of Tesla’s mechanics in Sweden. Now stretching into its sixth month, the dispute has drawn in unions from across the region that have joined in blockades aimed at bringing the U.S. carmaker to the negotiating table to reach a collective agreement with its Swedish workers. Several of the biggest shareholders in the Nordic countries are urging others to back a proposal that would require Tesla to respect the right of workers to assemble.
Persons: carmaker, Tesla Organizations: Elon, U.S Locations: Texas, Sweden, Denmark, Norway
The European Union said on Wednesday that it would impose additional tariffs of up to 38 percent on electric vehicles imported from China into the bloc, in what E.U. The move, a month after President Biden quadrupled U.S. tariffs on Chinese electric vehicles to 100 percent, opens another front in escalating trade tensions with China amid growing fears about a glut of Chinese green tech goods flooding global markets. The actions by the European Union and the United States also reflect the challenges that traditional automakers in Europe and the United States face from up-and-coming Chinese companies founded with a focus on electric vehicles and much lower cost bases than their rivals in the West. But unlike U.S. carmakers, several of their European counterparts are deeply entwined in the Chinese market, and their cars produced there will also be subject to the higher tariffs. They have criticized the European Union’s move to increase duties from 10 percent, fearing retaliation from China, as well as an increase in prices across the market and a drop in demand for battery-powered cars.
Persons: Biden Organizations: Union, European Union Locations: China, United States, Europe
In New York, probation officers talk to the defendant and the prosecutor in separate pre-sentencing interviews in preparation for what's known as a pre-sentencing report. AdvertisementTrump is not getting preferential treatment by being allowed to do his interview via video and with his lawyer, a city spokeswoman told Business Insider. It is true that defendants who are locked up while awaiting sentencing typically do pre-sentencing interviews via video, defense lawyers told Business Insider. But defendants like Trump, who are at liberty, are almost always required to appear alone and in person for their probation interviews, lawyers told BI. "I've never been present at a probation interview," said veteran Legal Aid attorney Sam Roberts.
Persons: , Donald Trump, Todd Blanche, Trump, it's, Ivette Davila, Richards, it's President Trump, Justice Manhattan Juan Merchan, Blanche, I've, Sam Roberts, he's, Thomas Eddy, there's, Eddy, Blanche wasn't Organizations: Service, of, Business, Associated Press, Legal Aid Society, The Bronx Defenders, Defender Services, Neighborhood, Service of Harlem, it's, New, Justice Manhattan Locations: New York City, Mar, New York, Manhattan, York City, Rochester , New York
Now, the New York attorney general says NovaTechFx is just a front for a $1 billion pyramid scheme. The lawsuit also names as a defendant AWS Mining Pty, a crypto mining platform previously run by the Petions. The lawsuit accuses the couple of targeting Haitian immigrants in New York City to recruit them into the pyramid scheme using local prayer circles. After founding NovaTechFx in 2019, Cynthia Petion rebranded herself as the "Reverend CEO," claiming that her company was "God's vision," the lawsuit says. The Petions also operated the NovaTechFx website, which the lawsuit says is where investors would go to invest in cryptocurrency through the company, according to court documents.
Persons: , NovaTechFx, Leticia James, Eddy Petion, Cynthia Petion, mindlessly, James, Renold Julien, Konbit Organizations: Service, New, New York, New York Supreme, AWS Mining, Business, Yorkers, Mining Locations: New York, New York City, cryptocurrency, Haitian, United States
"Improving domestic ecommerce market share should lead to better monetization eventually," Yao said. The investment firm expects Douyin to match PDD's market share of 21% next year, and surpass it by reaching 22% in 2026. Tencent's WeChat Video Account platform is expected to retain about 2% to 3% of GMV market share through 2026, the Goldman analysis said. The video streaming platform last month reported e-commerce GMV grew by 28.2% year-on-year in the first quarter to 288.1 billion yuan ($40,55 billion). The firm forecasts Kuaishou's e-commerce GMV revenue will grow by 25% this year, although livestreaming revenue — which has accounted for about a third of total revenue — is expected to drop due to a high base.
Persons: James Yang, Bain, Joe Tsai, Emily Tan, Yang, Alibaba, Goldman Sachs, Ronald Keung, David Ma, China's, Morgan Stanley, Eddy Wang, Kenneth Fong, JD, David Beckham, Alex Yao, monetization, Yao, Tmall's GMV, Douyin, Alibaba's, Tencent's, Goldman, Sophie Huang, — CNBC's Michael Bloom Organizations: Bain and Company, PDD Holdings, Goldman, UBS, JPMorgan China, ByteDance, Hong Locations: China, Hong Kong, Asia, U.S, Alibaba, 2Q24, 2Q24E
Borussia Dortmund, one of Germany’s most successful soccer clubs, is rooted in the industrial Ruhr region and prides itself on retaining its working-class roots, community engagement and anti-establishment mentality. That’s why, in the week before one of the biggest games in the club’s history, some Dortmund fans are angry about a sponsorship deal with Rheinmetall, a major German weapons producer. Everyone from club officials to lawmakers have weighed in on the move, which has provoked a debate about the normalization of the military in German society. Still, many fans would rather just focus on Dortmund’s appearance in the showcase game of the European season, the Champions League final on Saturday against Real Madrid. Generations of Germans, raised on the postwar idea that “never again” should their nation foment an armed conflict, remain uneasy associating with the defense industry.
Persons: , Organizations: Borussia Dortmund, Dortmund, Rheinmetall, Champions League, Real Madrid Locations: Dortmund’s, United States, Germany
Inflation Ticks Up in the Eurozone
  + stars: | 2024-05-31 | by ( Melissa Eddy | More About Melissa Eddy | )   time to read: 1 min
The annual rate of inflation in the countries that use the euro accelerated slightly in May, driven by a jump in the cost of services and food. The headline inflation rate was a bit higher than economists expected. The same was true for core inflation, which strips out volatile food and energy prices, which came in at 2.9 percent in May, versus 2.7 percent in April. The numbers for May showed the first uptick in overall and core inflation this year, highlighting the difficulties policymakers at the European Central Bank face in the final stretch of reaching their aim to bring inflation down to 2 percent. Three of the area’s largest economies, Germany, France and Spain, all saw annual inflation speed up in May.
Organizations: European Central Bank Locations: Germany, France, Spain
Open to allIt's unclear why the NRF rejected Shein's membership application, but according to one of the people familiar, someone with sway is strongly against the company's admittance. The NRF's board has a leadership team and an executive committee. An NRF membership application form that can be found online states: "Companies principally engaged in retailing are eligible for membership in the Federation." Two of the board members said they weren't aware of any instances where the NRF denied a retailer membership. "I don't think they are in the business of turning anyone down," one of the board members told CNBC.
Persons: Scott Olson, Matthew Shay, Courtney Reagan, CNBC Steve Dennis, Neiman, Sears, Dennis, Shein, John Furner, Bob Eddy, Mike George, Brian Cornell, Tony Spring, wasn't, Wang Ying, Ashley Sanchez, Joscelin Flores, Allen J, They've, Temu, it's Organizations: Getty, National Retail Federation, CNBC, Neiman Marcus, New York Stock Exchange, Shay, Walmart U.S, BJ's Wholesale, Qurate, QVC, Federation, Brands, Publicis Groupe, Coresight, Xinhua News Agency, Forum, World Retail, Los Angeles Times, Chinese Communist Party Locations: Whitestown , Indiana, New York City, America, U.S, New York, United States, Hamburg, Germany, Los Angeles, Paris, Davos, Switzerland, Las Vegas, Shoptalk, Fontana, Ontario Mills, Ontario
But after spending more than two decades building a career at the factory, Mr. Karaca, a 49-year-old father of three, learned that Continental planned to close the plant by 2027. Facing a daunting job hunt, he will head back to school to earn his trade certificate, courtesy of his employer. It’s a necessary step if he wants to find a job in Germany, where despite a desperate lack of skilled workers, degrees and certification still count more than on-the-job experience. “I never needed it until now, because I was always here,” Mr. Karaca said. The training program that Mr. Karaca and 80 of his co-workers will undergo is part of an initiative started by Continental aimed at helping employees acquire the skills they need for new jobs, either within Continental or at companies nearby.
Persons: Emrullah Karaca, Karaca, , ” Mr Organizations: Continental Locations: Gifhorn, Germany, It’s
Duane Eddy: Groundbreaking American guitarist dies age 86
  + stars: | 2024-05-02 | by ( Jack Guy | )   time to read: +3 min
CNN —Guitarist Duane Eddy, best known for twangy riffs on hits such as “Rebel Rouser” and “Cannonball,” has died at the age of 86, it has been reported. “Duane inspired a generation of guitarists the world over with his unmistakeable signature ‘Twang’ sound. Duane Eddy was one of my most important influences. “We are deeply saddened to hear of the passing of Duane Eddy. As a legendary guitarist, he inspired generations with his pioneering twangy sound and musical innovations,” reads the post.
Persons: Duane Eddy, , Eddy, “ Duane, “ Peter Gunn ”, They’re Young, Terry Wyatt, “ Forrest Gump ”, Kyle Young, don’t, Duane, Young, George Harrison, Steve Earle, Bruce Springsteen, Marty Stuart, ” Eddy, Mark Humphrey, Dave Davies, Organizations: CNN, Variety, Hall of Fame, Musicians Hall of Fame, Central Press, Hulton, Country Music Hall of Fame, Ventures, US, Gretsch Locations: Corning , New York, Nashville , Tennessee
Duane Eddy, who broke new ground in pop music in the 1950s with a reverberant, staccato style of guitar playing that became known as twang, died on Tuesday in Franklin, Tenn. The cause of his death, in a hospital, was complications of cancer, said his wife, Deed (Abbate) Eddy. Mr. Eddy had tremendous success as a strictly instrumental recording artist in the late 1950s and ’60s, selling millions of records worldwide with growling, echo-laden hits like “Rebel Rouser” and “Forty Miles of Bad Road.” In the process, he played a major role in establishing electric guitar as the predominant musical instrument in rock ’n’ roll. Mr. Eddy influenced a multitude of rock guitarists, including George Harrison, Jimi Hendrix and Bruce Springsteen, whose plunging guitar lines on “Born to Run” pay homage to Mr. Eddy’s muscular fretwork.
Persons: Duane Eddy, Eddy, Mr, George Harrison, Jimi Hendrix, Bruce Springsteen Locations: Franklin , Tenn,
In the city of Duisburg in Germany’s industrial heartland is a vast steel complex that is one of Europe’s largest polluters. If adopted widely, the devices could help clean up heavy industry, such as steel-making, in Germany and elsewhere. “We are maybe in one of those few very promising industries where Germany has a significant and very promising base,” said Werner Ponikwar, chief executive of ThyssenKrupp Nucera, which produces the electrolyzers. The company was spun off from ThyssenKrupp, a German steel giant, in 2023. Overall, German state and federal governments have earmarked €13.2 billion for investment in about two dozen projects to develop hydrogen.
Persons: , Werner Ponikwar, ThyssenKrupp Locations: Duisburg, Germany, ThyssenKrupp
The dynamic is bolstering the economic health of the region and keeping the eurozone from slipping too far. In a reversal of fortunes, the laggards have become leaders. Since then, the same countries have worked to mend their finances, attracting investors, reviving growth and exports, and reversing record-high unemployment. Now Germany, Europe’s largest economy, is dragging down the region’s fortunes. It has been struggling to pull itself out of a slump set off by soaring energy prices after Russia’s invasion of Ukraine.
Locations: Southern, Germany, Greece, Spain, Portugal, Italy, Southern Europe, Europe’s, Ukraine
BHP Group, the world’s largest mining company, has proposed a takeover of its rival Anglo American, in a deal that has the potential to shake up the industry at a time when demand for copper is soaring. BHP said on Thursday that it had approached Anglo with a bid valued at 31.1 billion pounds, or $39 billion, in what would be one of the most significant deals in the industry in years. If successful, the acquisition would create the world’s largest miner of copper at a time of growing global hunger for the metal, which is essential to the green-energy transition. Anglo confirmed that it had received an “unsolicited, nonbinding and highly conditional combination proposal from BHP” and that its board was reviewing the offer with its advisers. In the United States, President Biden’s signature climate and energy law, the Inflation Reduction Act, contains hundreds of billions of dollars in tax credits to help companies switch to low-carbon energy sources.
Organizations: BHP Group, BHP, BHP ” Locations: United States
Why Germany Can’t Break Up With China
  + stars: | 2024-04-16 | by ( Melissa Eddy | )   time to read: +1 min
When Germany’s chancellor, Olaf Scholz, took office in 2021, he pledged that his government would shift his country’s relationship with China away from one of economic dependence. Three years later, talk of scaling back reliance on China has been replaced with calls for equal access to China’s market for foreign firms. The U.S. Treasury secretary, Janet L. Yellen, has talked about imposing trade restrictions on China. The chief executives of several leading multinational companies based in Germany joined Mr. Scholz on his three-day tour of China, which included a meeting with Xi Jinping, China’s top leader, in Beijing on Tuesday. All of the company leaders oversee large operations in China that they are eager not only to maintain, but in many cases to expand.
Persons: Olaf Scholz, Janet L, Scholz, Xi Jinping Organizations: Treasury, Mr Locations: China, United States, U.S, Germany, Beijing
Chancellor Olaf Scholz of Germany tried to strike a delicate balance on a trip to China this week, promoting business ties with his country’s biggest trading partner while criticizing its surge of exports to Europe and its support for Russia. Mr. Scholz met with China’s top leader, Xi Jinping, at the Diaoyutai State Guesthouse in Beijing on Tuesday, the culmination of a three-day visit with a delegation of German officials and business leaders. Throughout his trip, Mr. Scholz promoted the interests of German companies that are finding it increasingly hard to compete in China. And he conveyed growing concern in the European Union that the region’s market is becoming a dumping ground for Chinese goods produced at a loss. It was Mr. Scholz’s first visit to China since his government adopted a strategy last year that defined the Asian power as a “partner, competitor and systemic rival,” calling on Germany to reduce its dependency on Chinese goods.
Persons: Olaf Scholz, Germany, Scholz, Xi Jinping, Li Qiang, Scholz’s Organizations: European Union Locations: China, Europe, Russia, Diaoyutai, Beijing, Ukraine, United States, European, Germany
German Business Is Tangled in Red Tape
  + stars: | 2024-04-09 | by ( Melissa Eddy | )   time to read: +1 min
When Markus Wingens created the position of “energy manager” for the metal heat-treatment company he runs in southwestern Germany, his idea was to increase energy efficiency and attract customers interested in sustainability. But the job has become as much a task of filling out paperwork and studying seemingly ever-changing laws as it is ensuring that the firm, Technotherm Heat Treatment Group, is meeting energy requirements. Last year, four new laws and 14 amendments to existing ones governing energy use took effect, each bringing fresh demands for data to be reported and forms to be submitted — in many cases to prove the same standards that the company has already been certified as reaching since 2012, Mr. Wingens said. “We have the Renewable Energy Act, we have the Energy Efficiency Act, we have the Energy Financing Act, and each comes with an administrative burden,” he said. “It’s madness.”
Persons: Markus Wingens, , Wingens, Organizations: Renewable Energy, Energy Locations: Germany
The annual inflation rate across most economies in Europe eased for the third month in a row, nearing the target set by the European Central Bank. The rate was slightly lower than economists expected and brought overall inflation closer to the 2 percent target set by the E.C.B., which will hold its next meeting to set interest rates on April 11. The central bank also keeps a close eye on core inflation, which strips out volatile food and energy prices. That dipped to 2.9 percent in the year through March in the eurozone, ticking below the 3-percent mark for the first time since Russia’s full-scale war against Ukraine broke out in February 2022, driving up energy prices. Germany, the eurozone’s largest economy, saw consumer prices rise at an annual rate of 2.3 percent in March, its slowest inflation since June 2021.
Organizations: European Central Bank, Consumer, European Union, Ukraine Locations: Europe, Germany
Read previewWhen Georgia Hunter began researching her family history and writing "We Were the Lucky Ones" in 2008, she didn't expect it to become a bestselling novel, and even less a Hulu series that she'd coproduce. For books specifically, it can help when a novel or series has had great success in stores, but it's not the only consideration. He's a decades-long friend of both Hunter and Lipez, the showrunner, who he brought the book to in 2019. The audience success of the novel certainly helped in making the decision to adapt the book, too, Helman said. "The book and the true story of these characters were mothers and fathers who wanted to protect their children.
Persons: , Georgia Hunter, Hunter, Logan Lerman, Erica Lipez, Carolyn Cassidy, Jordan Helman, Helman, Joey King, Halina, Eddy Kurc, Hunter's grandaunt, Hulu There's, — it's, Cassidy, there's, it's, Percy Jackson, Ellyn Jameson, Thomas Kail, He's, Lipez Organizations: Service, Georgia, Hulu, Business, Disney, Television, Hulu Originals, 20th Television Locations: Poland
Before China came to dominate the solar panel industry, Germany led the way. It was the world’s largest producer of solar panels, with several start-ups clustered in the former East Germany, until about a decade ago when China ramped up production and undercut just about everyone on price. Now as Germany and the rest of Europe try to reach ambitious goals to cut greenhouse gas emissions, the demand for solar panels has only increased. Some of the last remaining manufacturers in Germany’s solar industry are not ready to give up. They argue that Europe’s high standards for the origin of materials and shorter supply chains make production in Germany more environmentally friendly and reliable.
Locations: China, Germany, East Germany, Europe, Berlin
“They can’t stop us,” Mr. Musk, the company’s chief executive, told workers in a giant tent beside the plant. But there are proliferating signs that Tesla may not be as unstoppable as it once seemed. Chinese automakers and established brands like BMW and Volkswagen are flooding the market with electric cars. Mr. Musk’s many outside ventures, and his penchant for making polarizing political statements and attacking people he disagrees with, have raised questions about how focused he remains on managing Tesla. Wall Street is increasingly concerned about the company: Tesla’s share price has lost one-third of its value this year even as major stock indexes have hit record highs.
Persons: Elon Musk, ” Mr, Musk, Tesla Organizations: BMW, Volkswagen Locations: Tesla’s, Berlin
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewCeline Dion said she was "determined to one day get back onto the stage" while reflecting on her stiff-person syndrome diagnosis. "Today the world recognizes International SPS Awareness Day," Dion, 55, wrote. "As many of you know, in the fall of 2022, I was diagnosed with Stiff Person Syndrome (SPS)," she continued. Celine Dion, pictured here in 2015, hopes to be able to perform again in the future.
Persons: , Celine Dion, Dion, René, Charles, Nelson, Eddy, she'd, Denise Truscello, I'm, Taylor Swift Organizations: Service, Business, Johns Hopkins Medicine
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