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☆ Tesla factory boss defends knocking on workers' doors when they're off sick at home
▼ + stars: | 2024-09-30 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

A Tesla factory boss defended the decision to knock on workers' doors when they are off sick. AdvertisementThe boss of Tesla's German factory has defended the decision to send managers to knock on workers' doors while off sick. Thierig said turning up at employees' homes was not unusual, according to German press agency DPA, as reported by The Telegraph. Tesla factory execs have previously said the rate of sick leave was higher on Fridays. The high rates of sick leave have drawn the attention of Elon Musk.

Persons: André Thierig, Elon, —, Tesla, Handelsblatt, Thierig, Elon Musk Organizations: Service, The Telegraph, Tesla Locations: Berlin, Europe

☆ Bosses at Tesla's German Gigafactory are reportedly knocking on some workers' doors when they're at home sick
▼ + stars: | 2024-09-27 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Tesla workers in Germany have received home visits from managers when out sick, a German newspaper reported. AdvertisementSome Tesla workers have received visits at home from managers while off sick, according to a report from German newspaper Handelsblatt, which cited a recording of an internal meeting. AdvertisementHe added that Tesla workers report "extremely high workloads," with management pressuring those who are out sick as healthy employees are overloaded with additional work. — Elon Musk (@elonmusk) September 26, 2024In January, Musk warned Tesla workers to prepare for a ramped-up workload as he previewed plans for a mass-market EV. AdvertisementIn 2022, shortly after he took over X, Musk complained that because the company's San Francisco headquarters was about 90% empty, its free-lunch perk cost it more than $400 per meal.

Persons: Handelsblatt, Elon Musk, —, Dirk Schulze, Musk, Alex Tourville, — Elon, Tesla Organizations: Berlin, Service, Metall, Bloomberg, Business, San, X's Locations: Germany, Tesla's, Fremont , California, San Francisco, Austin , Texas

☆ Elon Musk is beefing with Apple and Tim Cook again. It's not the first time the Tesla CEO picked a fight with the iPhone giant.
▼ + stars: | 2024-06-11 | by ( Grace Kay | Ana Altchek | ) www.businessinsider.com time to read: +1 min

Elon Musk criticized Apple and its CEO years ago before appearing to patch things up during an Apple HQ visit with Tim Cook. On Monday, Musk slammed Apple for its OpenAI partnership and threatened to ban iPhones and MacBooks at his companies. Here's a history of the beef between the Tesla CEO and the tech giant. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The first signs of Musk's one-sided beef with Apple came in 2015 when he joked that Apple employed Tesla's rejects.

Persons: Elon, Tim Cook, Musk, MacBooks, —, Apple, Tesla's, we've Organizations: Apple, Service, Business

☆ Tesla tells its German factory workers to stay home as more protests loom
▼ + stars: | 2024-05-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Tesla will shut its factory near Berlin to all employees Friday when protesters are expected to gather outside its gates to protest against a planned expansion. But with the protests “in mind,” the electric vehicle maker has decided that all other workers at the factory should also stay at home, RTL said. André Thierig, a senior manufacturing director at the Tesla factory, confirmed in a post on X Tuesday that there would be a “one-day planned production shutdown” Friday. “Without the explicit instruction and authority of your manager, access to the site or factory will not be possible,” the Tesla email reportedly said. No buses or trains will run to and from the factory between Thursday and Sunday because of the anticipated protests, Handelsblatt cited Tesla’s email as saying.

Persons: London CNN — Tesla, Tesla, André, Elon Musk’s, Handelsblatt, ”, ” Mark Thompson, Olesya Dmitracova, Stephanie Halasz Organizations: London CNN, CNN, RTL, “, Police Locations: Berlin, Germany, Europe, German, Brandenburg, —

☆ Ukraine is getting a prototype artillery shell that can strike 3 times as far as regular rounds: report
▼ + stars: | 2024-05-08 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Germany plans to send Ukraine a prototype artillery shell that can travel 62 miles, Handelsblatt reported. AdvertisementGermany is gearing up to send Ukraine a prototype artillery shell that can travel up to 62 miles, German newspaper Handelsblatt reported. That would more than triple the reach of the conventional 155 mm artillery rounds Ukraine is heavily reliant on, depending on what system is used to fire it. It's not clear what the prototype munition actually is. Earlier this year, Germany announced a $5.3 million military aid package for Ukraine, including 10,000 artillery rounds from its own stocks, Politico reported.

Persons: They'd, —, It's, Handelsblatt, Russia's, Armin Papperger, Germany's, Olaf Scholz, Scholz Organizations: Service, Associated Press, Rheinmetall, Defense, Politico Locations: Germany, Ukraine, Berlin

☆ Mercedes-Benz says U.S. DOJ ended investigation into diesel emissions scandal
▼ + stars: | 2024-04-27 | by ( ) www.cnbc.com time to read: +1 min

The steering wheel in a moving Mercedes EQS 580 4Matic, when using the Drive Pilot, a technology of Mercedes Benz AG for autonomous driving. The U.S. Department of Justice has closed its probe into the Mercedes-Benz diesel emissions scandal and the car manufacturer is no longer facing charges, the company said on Saturday. Mercedes-Benz cooperated fully with the DOJ, Renata Jungo Bruengger, board member for integrity, governance and sustainability at Mercedes, said in an emailed statement. In 2016, the U.S. DOJ called on Mercedes-Benz to conduct an internal investigation into possible manipulated emissions, opens new tab values in diesel vehicles. The car maker was accused of deceiving consumers by marketing its BlueTEC vehicles as "the world's cleanest and most advanced diesel."

Persons: Renata Jungo Bruengger Organizations: Mercedes, Mercedes Benz AG, U.S . Department of Justice, Benz, U.S, DOJ

Tesla plans to lay off more than 10 percent of its work force in an effort to cut costs, Elon Musk, the automaker’s chief executive, told employees on Monday. The job cuts, amounting to about 14,000 people, come as the company faces increasing competition and declining sales. The email was earlier reported by Electrek, an online news site, and Handelsblatt, a German business newspaper. The move is the latest sign that Tesla may not be as unstoppable as it once seemed. The company’s sales are no longer growing at a rapid pace, and it has been slow to introduce new models.

Persons: Tesla, Elon Musk, Mr, Musk, ”, Electrek Organizations: Elon, The New York Times Locations: Asia, Europe

☆ Deutsche Bank's 3-day-a-week return-to-office policy has been met with fierce criticism by staff who say there isn't enough space for everyone
▼ + stars: | 2024-02-28 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

Deutsche Bank staff have criticized the company's new return-to-office policies. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "There's enormous resistance among staff," Stephan Szukalski, the head of the labor union DBV, which represents Deutsche Bank staff, told Bloomberg via email. Szukalski, who is also part of the bank's supervisory board, said there isn't enough office space and that staff are already complaining about bottlenecks. The spokesperson told BI: "The bank remains committed to our hybrid working model, which has been received extremely positively by staff.

Persons: —, Christian, Rebecca Short, Stephan Szukalski, Szukalski, EY, Dan Schawbel, Nicholas Bloom Organizations: Deutsche Bank, Staff, Service, Bloomberg, Business, DBV, Google, General Motors, SAP, Stanford Locations: Germany

☆ The Apple Car is dead, and Elon Musk is speaking at its funeral
▼ + stars: | 2024-02-28 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Apple is scrapping its electric car project, per new reports, and Elon Musk has something to say. AdvertisementApple is killing its electric car project, and Elon Musk is here to deliver an eulogy. The tech giant is pulling the plug on its decadelong electric car project, Bloomberg reported on Tuesday, citing sources familiar with the matter. Many employees involved in the car project will now be moved to the company's AI division, but there could be layoffs among Apple's engineers and car designers, per Bloomberg. Even though Apple is a trillion-dollar tech behemoth, Musk said in 2015 that he wasn't threatened by their interest in the electric car market.

Persons: Elon Musk, Tesla, Musk, — Organizations: Apple, Service, Bloomberg, Tesla, Business Insider Locations: Handelsblatt

☆ UK Offers Cruise-Missile Swap to Germany to Aid Ukraine -Handelsblatt
▼ + stars: | 2024-01-24 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

BERLIN (Reuters) - Britain has offered Germany a swap of cruise missiles that could allow the German government a way to overcome concerns over a suggested delivery of missiles to Ukraine, Germen newspaper Handelsblatt reported on Wednesday. The paper cited government and diplomatic sources as saying that the British government has proposed to Berlin several weeks ago that it could export Storm Shadow cruise missiles to Ukraine and, in turn, receive the German Taurus missiles. The office of German chancellor Olaf Scholz has been analysing this proposal, the report added. A person familiar with the negotiations said that the proposed swap could potentially find support in Berlin. The German government has repeatedly said it will only act in concert with Washington on arms deliveries to Ukraine.

Persons: Handelsblatt, Olaf Scholz, Riham Alkousaa, Gareth Jones, Bill Berkrot Organizations: BERLIN, Taurus Locations: Britain, Germany, Ukraine, Germen, Berlin, Washington

☆ Elon Musk thinks Tesla has 'the best real-world AI,' but an ex-worker raised concerns about how it's powering the Autopilot feature
▼ + stars: | 2023-12-05 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Elon Musk believes that Tesla has the "best real-world AI," which powers its self-driving tech. Whistleblower Lukasz Krupski told BBC News that the Autopilot feature wasn't ready for public use. "It affects all of us because we are essentially experiments in public roads," he told BBC News. A lawyer representing Tesla told the newspaper that Krupski was a "disgruntled former employee," and said he abused his position to release the material. Some documents leaked to The Handelsblatt had recorded accidents that occurred when using Tesla's Autopilot feature, first released in 2015.

Persons: Elon Musk, Tesla, Lukasz Krupski, —, Elon, doesn't, Krupski, Kruspki, he'd Organizations: BBC News, Service, Tesla, New York Times, BBC, Business Locations: Oslo, Norway

☆ Deutsche Bank to review Postbank tech migration - Handelsblatt
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: 1 min

The logo of Deutsche Bank is seen in Brussels, Belgium December 6, 2022. REUTERS/Yves Herman/File Photo Acquire Licensing RightsBERLIN, Dec 4 (Reuters) - Deutsche Bank's supervisory board has tasked its auditor EY with reviewing the Postbank IT integration, which has caused numerous customer complaints due to disruptions, Handelsblatt reported on Monday. The result could result in cuts to bonuses, the newspaper said, citing people familiar with the matter. A Deutsche Bank spokesperson declined to comment on the story. Reporting by Kirsti Knolle; Editing by Linda Pasquini and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Yves Herman, Handelsblatt, Kirsti Knolle, Linda Pasquini, Jan Harvey Organizations: Deutsche Bank, REUTERS, Rights, Deutsche, Thomson Locations: Brussels, Belgium

☆ ECB could take bigger role in supervising shadow banks, Enria says
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

European Union (EU) flags fly in front of the headquarters of the European Central Bank (ECB) in Frankfurt, Germany, July 8, 2020. REUTERS/Ralph Orlowski/File Photo Acquire Licensing RightsFRANKFURT, Nov 28 (Reuters) - The European Central Bank may need to take on a bigger role in supervising shadow banks as they are now bigger than conventional lenders and may be sitting on elevated risk, the outgoing head of the ECB's supervision arm told European newspapers. "These are different animals to banks, so we shouldn’t expect to supervise them in the same way as we supervise banks." Taking on oversight of shadow banks would require legislative changes, a time consuming process even under the best of circumstances, and requiring broad political agreement. But some have argued that such a change could ease liquidity stress, particularly if shadow banks gained access to the ECB lending operations.

Persons: Ralph Orlowski, Andrea Enria, Expansión, Enria, Balazs Koranyi, Tomasz Janowski Organizations: Union, European Central Bank, REUTERS, Rights, prudential, ECB, Thomson Locations: Frankfurt, Germany

☆ Germany's Kuehne examines offer for Signa's Hamburg skyscraper, Handelsblatt reports
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +1 min

View of the construction site of the Elbtower building, owned by Rene Benko’s Signa and a Commerzbank subsidiary, in Hamburg Germany, November 2, 2023. REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsFRANKFURT, Nov 26 (Reuters) - German logistics entrepreneur Klaus-Michael Kuehne is examining a takeover of Signa Group's abandoned Elbtower high-rise project in his hometown of Hamburg, Handelsblatt reported. Discussions on the takeover by Kuehne are quite advanced, but no decision has been made, German newspaper Handelsblatt reported, citing a source. Signa, owner of New York's Chrysler Building and Britain's Selfridges store, and spokespeople for Kuehne and the city of Hamburg did not respond to requests for comment on Sunday. This led to the insolvency of its subsidiary Signa Real Estate Management Germany on Friday, Spiegel magazine reported.

Persons: Rene Benko’s Signa, Fabian Bimmer, Klaus, Michael Kuehne, Group's, Handelsblatt, Signa, Kuehne und Nagel, Hapag Lloyd, René Benko, Emma, Victoria Farr, Alexander Smith Organizations: REUTERS, Rights, Kuehne, Lufthansa, Chrysler, Real Estate Management, Spiegel, Thomson Locations: Hamburg Germany, Hamburg, Austrian, Real Estate Management Germany, Signa, Germany

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

☆ Supply problems set to hit Volkswagen's Skoda unit - Handelsblatt
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: 1 min

ADAS, AV & Safety category · November 18, 2023 · 1:09 AM UTCDays after General Motors’ Cruise self-driving car unit pulled all of its vehicles off the roads in the U.S. for a safety review, it continues to test them on public roads in Dubai and Japan, Reuters has learned.

Persons: General Motors ’ Organizations: General Motors, Reuters Locations: U.S, Dubai, Japan

☆ Volkswagen to cut administrative personnel costs 20% in savings drive -Handelsblatt
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsBERLIN, Nov 13 (Reuters) - Volkswagen (VOWG_p.DE) plans to cut administrative personnel costs by a fifth as part of a cost-cutting package to save 10 billion euros ($10.8 billion) by 2026, the Handelsblatt daily reported on Monday, citing an internal company podcast. Gunnar Kilian, Volkswagen's board member for human resources, said in conversation with VW brand chief Thomas Schaefer that the cuts would focus on cost reduction rather than headcount, according to the Handelsblatt report. The specific details of the drive at Volkswagen's passenger car brand, announced in June and currently being defined in talks between management and the workers council, are due to be set by December. Volkswagen has signed an agreement with the workers council to secure jobs until 2029, and the council has repeatedly said it will not allow changes to that agreement. Reporting by Victoria Waldersee, Christina Amann; Writing by Victoria Waldersee, Miranda Murray; Editing by Stephen Coates and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Fabian Bimmer, Gunnar Kilian, Volkswagen's, Thomas Schaefer, Victoria Waldersee, Christina Amann, Miranda Murray, Stephen Coates, Bernadette Baum Organizations: VW, REUTERS, Rights, Volkswagen, Reuters, Thomson Locations: Wolfsburg, Germany

☆ Man vs. Musk: A Whistleblower Creates Headaches for Tesla
▼ + stars: | 2023-11-10 | by ( Jack Ewing | More About Jack Ewing | ) www.nytimes.com time to read: +1 min

(Some of the information came from a second, unidentified Tesla employee.) The Data Protection Authority in the Netherlands, where Tesla has its European headquarters, is investigating whether the breach violated privacy laws. Tesla and three lawyers representing the company did not reply to requests for comment. In the United States, Benson Pai, a former Tesla production worker, has sued the automaker in federal court in California, claiming that lax security by Tesla exposed employee information that could be sold to criminals. Lawyers for Mr. Pai are seeking approval from a judge to pursue the case as a class action on behalf of tens of thousands of Tesla employees.

Persons: Handelsblatt, Tesla, Krupski, Benson Pai, Pai Organizations: Wired, Data Protection Authority, Mr Locations: Netherlands, United States, California

☆ GoStudent, the $3 billion edtech darling, scaled fast and partied hard. The result was a mess.
▼ + stars: | 2023-10-24 | by ( Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com time to read: +23 min

These people were employees of GoStudent, an Austria-based online-tutoring startup that had quickly become the darling of the European tech scene. But 28 current and former GoStudent employees and tutors said they experienced a poorly run organization with clumsy management. Edtech companies "rarely have any major competitive advantage other than scale," a European venture capitalist who's not affiliated with GoStudent said. A GoStudent employee threatened to track down the petition's author using tutors' IP addresses, according to the German publication Handelsblatt. According to public documents updated in December 2022, GoStudent had shrunk to 15 markets and 1,500 employees, including its acquisitions.

Persons: Felix Ohswald, Gregor Müller, GoStudent, who'd, I'm, Heinz, Peter Meidinger, cofounders, Ferdinand von Hagen, Prada, GoStudent's, Dave Benett, Müller, —, Ohswald, Anthony Canavan, Canavan, Brutkasten, Norbert Wess, Harry Murphy, Duncan McIntyre, McIntyre, Neel Gupta, Anna Tuchy, Patrick Nadler, Nadler, Sarah Heuberger, Ross Slater Organizations: German Teachers ' Association, Employees, GoStudent, Conseil, prud'hommes, DBS, Safety Officers, Web, Getty, JP Morgan, Barclays, Deutsche Bank, TechCrunch, Organisation for Economic Cooperation Locations: Vienna, Austria, Silicon Valley, North America, South America, Europe, London, France, Soho , London, Dock, DACH, Germany, Switzerland, Spanish, Sweden, Swedish, GoStudent, Ukraine, Ibiza, GoStudent's, Deliveroo

☆ Tesla discloses DOJ probes over vehicle range, personal benefits and more
▼ + stars: | 2023-10-23 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

A Tesla Model Y is seen on a Tesla car lot in Austin, Texas, on May 31, 2023. The Wall Street Journal reported in August that federal prosecutors were investigating whether Tesla used company funds to design and build a "glass house project" for Musk. Last year, Reuters reported that a federal criminal investigation was underway concerning Tesla's claims that its cars were self-driving. Reuters has reported, and research by Recurrent and others have revealed, that Tesla's cars frequently fail to achieve the mileage stated in range estimates and shown on the in-vehicle displays. Shares in Tesla were ticking higher Monday midday, starting to recover from a 15% decline last week following the company's pessimistic third-quarter earnings call.

Persons: Tesla, Elon, Musk, Vaibhav Taneja, Zachary Kirkhorn Organizations: Tesla, U.S . Department of Justice, Elon Musk's, Street, Reuters, SpaceX, X Corp, Tesla's, CNBC Locations: Austin , Texas

The FDP looked on track to fail to reach the 5% threshold to enter parliament in Bavaria, and possibly Hesse too. They and the AfD were the only parties to make gains in the Bavaria election. Still, coalition parties were likely to continue to follow increasingly separate paths to focus on issues relevant to their core electorate in response to the bad results, he said, while all taking a tougher stance on migration. "We must in the future better communicate SPD projects and be more visible," SPD lawmaker Sebastian Roloff told German outlet Handelsblatt. Reporting by Sarah Marsh; Editing by Nick Macfie, Ros Russell and Mark PorterOur Standards: The Thomson Reuters Trust Principles.

Persons: Chancellor Olaf Scholz's, Scholz, Thomas Kemmerich, Jens Spahn, Spahn, Nancy Faeser, Markus Soeder, Philipp Koeker, Sebastian Roloff, Sarah Marsh, Nick Macfie, Ros Russell, Mark Porter Organizations: Social Democrats, Greens, Free Democrats, Christian Democrats, CDU, ARD, Christian Social Union, CSU, DRUBBING, Free Voters, University of Hanover, Thomson Locations: Hesse, Bavaria, BERLIN, Germany, Ukraine, Frankfurt

☆ Siemens is case study in China de-risking dilemma
▼ + stars: | 2023-10-04 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +9 min

That’s unsettling for the likes of Siemens, $62 billion carmaker Volkswagen (VOWG_p.DE) and $39 billion chemicals group BASF (BASFn.DE). Factor in the German group’s 32% stake in Siemens Energy (ENR1n.DE) and 75% holding in Siemens Healthineers (SHLG.DE), currently worth 46 billion euros, and it adds up to 156 billion euros. The unit and Siemens’ Airport Logistics unit, which press reports say could be another divestment candidate, may only be worth 4 billion euros combined. Moreover, Kaeser already tried to boost Siemens’ valuation by partially spinning off subsidiaries. As of September, Siemens had bought back 2.5 billion euros of shares since starting a 3 billion euro share repurchase programme in November 2021.

Persons: Roland Busch, France’s Legrand, Busch, Joe Kaeser, he’s, Kaeser, Germany’s Bundesbank, Siemens, Goldman Sachs, Judith Wiese, George Hay, Oliver Taslic Organizations: Reuters, Siemens, Germany’s, Barclays, Reuters Graphics Reuters, Volkswagen, BASF, Software, Dassault, Automation, ABB, Smart Infrastructure, Siemens Energy, Siemens ’ Mobility, France’s Alstom, CRRC Corporation, Siemens ’ Airport Logistics, Siemens Healthineers, Toshiba Corp, Energy, BNP, Bloomberg, Financial Times, Thomson Locations: China, Brussels, Beijing, Germany, EMEA, Swiss, Middle Kingdom, Republic, Shenzhen, Sichuan, Chengdu, Southeast Asia, Indonesia, Vietnam, Thailand

☆ Germany's political landscape is shifting, with the far-right AfD party ahead in the polls
▼ + stars: | 2023-10-03 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +3 min

The AFD party leadership (front row) holds a banner reading OUR LAND FIRST! during a protest against the rising cost of living in a demonstration organized by the right-wing Alternative for Germany (AfD) political party on October 8, 2022 in Berlin, Germany. The Christian Democratic Union party (CDU), formerly led by chancellor of 16 years, Angela Merkel, currently polls the highest. "First of all you need a political will to stop it and we don't see this will among the other parties. "There is a backlash clearly … The population is now moving to the right," Sinn said, referring to the popularity of the AfD.

Persons: Omer Messinger, Angela Merkel, Robert Lambrou, Lambrou, CNBC's Annette Weisbach, Chancellor Olaf Scholz, Manfred Knof, Hans, Werner Sinn, Sinn Organizations: Getty, Social Democrats, Greens, Free Democrats, Christian Democratic Union, CDU, CNBC, Federal Ministry for Economic Affairs, Handelsblatt Locations: Germany, Berlin, Hesse, Frankfurt, Bavaria, Munich, Sonneberg, Thuringia, Europe

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