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☆ Trump victory deals latest severe blow to a struggling Germany
▼ + stars: | 2024-11-07 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Krisztian Bocsi | Bloomberg | Getty ImagesDonald Trump's election as U.S. President could mark yet another major blow for the struggling German economy. The print came after the German economy ministry in October said it was now expecting the country's economy will contract, rather than grow this year. Trump's victory could make matters worse. Reliance on exportsThe German economy is heavily reliant on exports — and Trump is set to slap tariffs and other restrictions on imports. The German statistics office Destatis last month said that the U.S.' importance as a trading partner for Germany has been growing.

Persons: Olaf Scholz, Germany's, Krisztian Bocsi, Donald Trump's, Moritz Schularick, Trump, Schularick, ifo, Morningstar DBRS, Lisandra Flach Organizations: Bloomberg, Getty, PMI, P Global, Hamburg Commercial Bank, Kiel Institute, Trump, Reliance, China, Beijing, Destatis, ifo Center, International Economics, European Union, EU Locations: Berlin, Germany, Federal Republic of Germany, Europe, U.S

☆ Commerzbank and UniCredit set to meet as takeover prospect looms
▼ + stars: | 2024-09-27 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

A Commerzbank AG bank branch, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024. Krisztian Bocsi | Bloomberg | Getty ImagesCommerzbank and UniCredit are set to begin talks Friday, with the German bank on the defensive over a potential takeover after its Italian counterpart unexpectedly increased its stake earlier this month. Speaking at a financial conference, Orlopp said the German bank was open minded, but that the speed of synergies and risks needed to be considered. The potential for a takeover or merger has been met with opposition from Germany's government and several senior figures at Commerzbank. Orlopp herself earlier this month told journalists that the process had taken Commerzbank by surprise, but urged a calm approach.

Persons: Krisztian Bocsi, Bettina Orlopp, Orlopp, Commerzbank, Manfred Knof, Germany's, Jens Weidmann, Stefan Wittmann Organizations: AG, Bloomberg, Getty, Reuters, CNBC Locations: Frankfurt, Germany, Commerzbank

☆ Tesla's stock wraps up one of its worst quarters on record as global dominance wanes
▼ + stars: | 2024-03-29 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +11 min

Deliveries are the closest approximation of sales reported by Tesla but are not precisely defined in the company's shareholder communications. Tesla's Model 3 is about $4,000 more than that. Aging lineup, early days for Cybertruck While EV sales are still gaining popularity worldwide, the growth rate has slowed. In a push for end-of-quarter sales, Musk recently mandated that all sales and service staff install and demo FSD for customers before they hand over their cars. Despite its name, Tesla's premium option requires a human driver at the wheel, ready to steer or brake at any moment.

Persons: Florence Lo, Tesla, Troy Teslike, Tesla's, China's BYD, BYD, Lei Jun, Emmanuel Rosner, Rosner, Elon Musk, Krisztian Bocsi, Rohan Patel, Musk, Sandy Munro, Forbes, Larry Magid, Donald Trump, He's, he's, Investor Ross Gerber, who've, Brad Gerstner, Gerstner, FSD Organizations: Reuters, FactSet, Independent, Qin, Tesla's, China Passenger Car Association, Bloomberg, Deutsche Bank, Tesla, Volvo, Elon, Tesla Inc, Getty, IF Metall, IF Metall's, IF, Pew Research, Gallup, Investor, CNBC, Bears, S3 Partners, U.S Locations: Beijing, China, China In China, Shanghai, Europe, Red Sea, Iran, Gruenheide, Germany, Brandenburg, Berlin, Swedish, Sweden, U.S, Austin , Texas, San Jose , California, Fremont , California, Florida, Haiti, Texas, Delaware

☆ Musk visits German Tesla Gigafactory after suspected arson attack
▼ + stars: | 2024-03-13 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Odd Andersen | Afp | Getty ImagesElon Musk on Wednesday visited the Tesla Gigafactory near Berlin, which was forced to halt production last week after losing power during a suspected arson attack. Tesla workers stand outside they wait for arrival of Tesla head Elon Musk outside the Tesla Gigafactory on March 13, 2024 near Gruenheide, Germany. Maja Hitij | Getty Images News | Getty ImagesElon Musk, chief executive officer of Tesla Inc., arrives at the Tesla plant in Gruenheide, Germany, on Wednesday, March 13, 2024. Last week, the Gigafactory was left without power and had to temporarily stop production after a suspected arson on an electric substation close by. A banner with the words "Elon" and "Eloff" hangs in the camp of the "Stop Tesla" initiative in a pine forest near Fangschleuse near the Tesla Gigafactory Berlin-Brandenburg plant.

Persons: Elon Musk, Odd Andersen, Musk, Tesla, Maja Hitij, Krisztian Bocsi, Elon, Sebastian Gollnow Organizations: Afp, Getty, Tesla Inc, Bloomberg, CNBC Locations: Gruenheide, Berlin, Brandenburg, Germany, Fangschleuse

☆ Why are shopping carts always broken?
▼ + stars: | 2024-02-17 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +5 min

The notoriously combative wheels are actually created by the repeated battering that shopping carts are often subject to, explained Alex Poulos. Rogers, which supplies thousands of shopping carts to companies like Whole Foods, Tractor Supply Company and Meijer. Customers push shopping carts outside a Lidl Stiftung & Co. KG supermarket in Berlin, Germany, on Tuesday, Oct. 4, 2022. The ethics of returning shopping cartsConsumers bear some of the responsibility for the banged up and broken qualities of their shopping carts. A supermarket employee returns shopping carts in the Market Basket parking lot in Plymouth, Massachusetts, during a fast-moving winter storm that hit the US Northeast February 13, 2024.

Persons: New York CNN —, Alex Poulos, Poulos, Rogers, Krisztian Bocsi, ”, Alvar Diaz, Christopher Furlong, they’re, Beth Thieme, Ken McGagh, Diaz Organizations: New, New York CNN, R.W, Tractor Supply, Meijer, CNN, Customers, Stiftung, KG, Bloomberg, Getty, Aldi, Tesco, Lidl, Amigo Mobility, Reuters Retailers, Walmart, Target Locations: New York, Berlin, Germany, Europe, Tarleton, United Kingdom, United States, Plymouth , Massachusetts

☆ A big win for Wells Fargo — plus what's dragging down Google parent Alphabet
▼ + stars: | 2024-02-15 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

One more down: Shares of Wells Fargo hit a new 52-week high after the Office of the Comptroller of the Currency terminated a 2016 consent order linked to its sales practices. This is the sixth consent order that regulators have terminated since 2019. Every consent order that is resolved brings the bank closer to having the Federal Reserve lift the asset cap that's been holding it back since February 2018. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Linde, Wells Fargo, Charlie Scharf, there's, GOOGL, It's, Jim Cramer's, Jim, Krisztian Bocsi Organizations: CNBC, Air Products, Chemicals, Bank of America, Energy, Cisco Systems, Wells, Currency, Federal Reserve, Microsoft, Google, Materials, University of Michigan, PPI, Jim Cramer's Charitable, Shell Plc, BASF, Linde AG, Bloomberg, Getty Locations: We're, Bank, Wells, Coinbase, Leuna, Germany

☆ Fragments of Asteroid With Mystery Origin Are Found Outside Berlin
▼ + stars: | 2024-02-10 | by ( Jonathan O Callaghan | ) www.nytimes.com time to read: +1 min

Scientists have found pieces of a meteorite that fell near Berlin just after midnight on Jan. 21. It is a rare find, from an asteroid that was identified just before it entered Earth’s atmosphere. Only a handful of such events in the recent past have allowed astronomers to trace an incoming rock’s origin in the solar system. “There are very, very few aubrites.”The asteroid that became the meteorite (or rather fragments of meteorite) was initially spotted by Krisztián Sárneczky, a Hungarian astronomer, three hours before it hit Earth’s atmosphere. A network of cameras tracked the incoming rock, 2024 BX1, as it fell near Ribbeck, a village outside Berlin.

Persons: “, ”, Sara Russell, Krisztián Sárneczky Organizations: Mercury Locations: Berlin, London, Hungarian, Ribbeck, Europe

☆ Europe’s Growth Engine Is Broken
▼ + stars: | 2024-01-15 | by ( Tom Fairless | ) www.wsj.com time to read: 1 min

Germany’s car production is more than 25% below its mid 2010s level, according to an auto industry lobby group. Photo: Krisztian Bocsi/Bloomberg NewsGermany is stuck in a rut, and there is no quick way out. The European powerhouse’s economy, the largest on the continent and the world’s fourth biggest, shrank last year, extending a six-year slump that is raising fears of deindustrialization and sapping support for governments across the region.

Persons: Krisztian Bocsi, deindustrialization Organizations: Bloomberg, Germany

☆ Bayer CEO Says Breakup Wouldn’t Fix All of the Company’s Ills
▼ + stars: | 2023-11-25 | by ( William Boston | ) www.wsj.com time to read: 1 min

Bayer CEO Bill Anderson is contending with his predecessor’s disastrous Monsanto acquisition and the need to re-energize Bayer’s drug pipeline. Photo: Krisztian Bocsi/Bloomberg NewsBERLIN— Bayer Chief Executive Bill Anderson said the company would bounce back quickly from a recent spate of bad news, and warned that a breakup of the pharmaceutical and agricultural company was no universal cure for its ailments. A stream of negative news has rekindled calls from investors for Bayer to unlock value by spinning off its units into separate businesses. But in an interview with The Wall Street Journal this week, Anderson said the company couldn’t be distracted from the tough restructuring to fix the businesses.

Persons: Bill Anderson, Krisztian Bocsi, Anderson Organizations: Bloomberg, BERLIN — Bayer, Bayer, Wall

☆ No Balconies or Luxury Toilets: How This City Fought Soaring Rents and Lost
▼ + stars: | 2023-11-14 | by ( Bertrand Benoit | ) www.wsj.com time to read: 1 min

Rents in Berlin rose 16% in June from the previous year, and the number of available rentals has dropped by half since 2014. Photo: Krisztian Bocsi/Bloomberg NewsBERLIN—The German capital has long been a lab for daring experiments in tackling the crisis of affordable housing that is plaguing city dwellers from San Francisco to Hong Kong. Anti-gentrification rules are so strict that in some neighborhoods, luxury renovations such as walk-in showers, balconies or cement tiles are turned down. Airbnb is tightly restricted while rental caps have forced thousands of landlords to slash rents.

Persons: Krisztian Bocsi Organizations: Bloomberg, BERLIN Locations: Berlin, San Francisco, Hong Kong

☆ How One Major World Capital’s Bid to Boost Affordable Housing Backfired
▼ + stars: | 2023-11-14 | by ( Bertrand Benoit | ) www.wsj.com time to read: 1 min

Persons: Krisztian Bocsi Organizations: Bloomberg, BERLIN Locations: Berlin, San Francisco, Hong Kong

☆ Why these industrial giants are betting on the transition to clean energy
▼ + stars: | 2023-11-13 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

"Right now, some of our favorite secular themes are the mega trends benefitting from a wave of federal spending — and the energy transition is one of those themes," he explained. CAT YTD mountain Caterpillar (CAT) year-to-date performance Elsewhere, Caterpillar has said the "energy transition and growing global energy demand are increasing [it's] total addressable market and furthering opportunities for long-term profitable growth." In terms of the energy transition, the company's aerospace business could see a boost from its development of sustainable aviation fuels. CEO Vimal Kapur last month said the industrials giant is "beginning to feel the urgency behind [the] energy transition." "Honeywell is in a unique position to both help the world meet today's growing energy needs, while also enabling the energy transition," Kapur said.

Persons: we're, Jeff Marks, Linde, Wall, I'm, Jim Cramer, Vimal Kapur, Kapur, Jim Cramer's, Jim, Krisztian Bocsi Organizations: Linde, LIN, Honeywell, Caterpillar, Investing, ExxonMobil, Exxon, BMO Capital Markets, Bank of America, CAT, CNBC, Linde AG, Treatment, Berlin, Bloomberg, Getty Locations: U.S, Berlin, Germany

☆ The U.S. and European Economies Are Diverging
▼ + stars: | 2023-10-31 | by ( Paul Hannon | ) www.wsj.com time to read: 1 min

A slump in international trade has hit large manufacturers and exporters such as Germany particularly hard. Photo: Krisztian Bocsi/Bloomberg NewsThe gap between the U.S. and European economies is widening, with growth and inflation on different trajectories as the fallout from the war in Ukraine weighs on Europe’s prospects. The European Union’s statistics agency Tuesday said the combined gross domestic product of the eurozone’s 20 members fell by an annualized 0.4% in the three months through September, having increased by 0.6% in the previous quarter.

Persons: Krisztian Bocsi Organizations: Bloomberg, U.S Locations: Germany, Ukraine

☆ Birkenstock IPO: German sandal brand could be worth $10 billion
▼ + stars: | 2023-10-03 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

German shoemaker Birkenstock could be valued at up to $10 billion when it lists its shares on the stock market for the first time. The family-owned firm traces its origins back to 1774, when church archives mention Johannes Birkenstock, who worked as a cobbler in Langen-Bergheim, Germany. In the nine months to the end of June this year, revenues grew 21% compared with the same period in 2022 to reach €1.12 billion ($1.17 billion). (CNN and “Barbie” distributor Warner Bros. Pictures have the same parent company, Warner Bros. UK-based chip designer Arm (ARM) was lured to US shores last month, listing on the Nasdaq, and currently has a market capitalization of $54 billion.

Persons: London CNN —, Birkenstock, Johannes Birkenstock, Bocsi, Krisztian Bocsi, Dior —, Brothers Christian, Alex Birkenstock, Barbie, “ Barbie, “, ” Susannah Streeter, Hargreaves Lansdown Organizations: London CNN, New York Stock Exchange, Bloomberg, Getty, Tiffany, Brothers, CNN, Warner Bros . Pictures, Warner Bros ., Nasdaq, Hargreaves Locations: Langen, Bergheim, Germany, Berlin, Birkenstock, €, Europe, United States

☆ The world needs cheap electric cars. That spells trouble for Big Auto
▼ + stars: | 2023-09-29 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

The world needs affordable EVs more than ever as electric cars will play a big role in hcelping countries cut planet-heating pollution. “When legacy [carmakers] talk about catching up to Tesla or catching up to the leading Chinese automakers, it’s difficult. It is by far the world’s biggest EV battery manufacturer and dominant in the supply and processing of many critical components needed to make the batteries. Global automakers have had little choice but to enter into joint ventures with Chinese EV and battery manufacturers. EU lawmakers have voiced concerns that government subsidies allow Chinese EV makers to keep prices artificially low, creating unfair competition for European rivals.

Persons: Henry Ford’s, carmaking, Jeff Kowalsky, ”, Gene Munster, Tesla, — Tesla, —, Patrick Hummel, Krisztian Bocsi, Ford, “ It’s, ” Dan Ives, Bill Pugliano, Daniel Röska, Bernstein, China …, Marco Rubio, “ They’re, Bill Ford, CNN’s Fareed Zakaria Organizations: London CNN —, Ford Motor Company, Toyota, Volkswagen, United, Getty, Deepwater Asset Management, Volkswagen Group, Audi, Porsche, Chrysler, Jeep, Ford, General Motors, International Energy Agency, Honda, Renault, Nissan, Mitsubishi, Hyundai, Kia, Benz, BMW —, Investment, UBS, EV, Atlas Public, VW, Bloomberg, Reuters, Twitter, Stellantis, Wedbush Securities, CNN, United Auto Workers, Refining, Global, Republican, European Union, EU, Jato Dynamics Locations: Europe, United States, Dearborn , Michigan, AFP, China, Japan, South Korea, Asia, US, Germany, ” Munster, Munster, Lansing , Michigan, Michigan, Beijing, America

☆ Hungarian bookstore to fight fine for sale of LGBT-themed 'Heartstopper'
▼ + stars: | 2023-07-14 | by ( Reuters Caolán Magee | Caolán Magee | ) edition.cnn.com time to read: +2 min

CNN —Hungary’s second-largest bookstore, Lira, said on Friday it plans to take legal action after it received a hefty government fine for the sale of an LGBT-themed British webcomic and graphic novel aimed at teenagers without closed wrapping. The popular “Heartstopper” series, in which two gay teens fall in love, has also been adapted by Netflix as a romantic comedy-drama. Krisztian Nyary, Lira’s creative director and a well-known author himself, told Reuters the fine was disproportionate, the law vaguely worded and that the bookstore would respond legally. Books that feature LGBTQ+ characters are seen wrapped in plastic foil in a bookstore in Budapest, Hungary, on July 11. This is not the first time a Hungarian government office has fined a bookstore for a violation of the law.

Persons: CNN —, Alice Oseman’s “, Krisztian, Bernadett Szabo, ”, “, Viktor Orban’s, ” Nyary Organizations: CNN, Lira, Netflix, Reuters, European Union, European Commission, Justice Locations: Budapest, Lira, Hungary, United States, Germany

☆ Corporate Tech Leaders Get Back to Basics
▼ + stars: | 2023-04-24 | by ( Isabelle Bousquette | ) www.wsj.com time to read: 1 min

“It’s all about balancing priorities across both keeping the lights on, as well as new innovations, in order to support business needs,” said Sharmeelee Bala, Chief Information Officer at JCPenney. Photo: Krisztian Bocsi/Bloomberg NewsThe era of the unicorn chief information officer is over, executive recruiters say. Many companies are now looking for IT chiefs who can deliver on the basics—including uptime, security and cost optimization—rather than tremendous innovators who can push boundaries and drive major change. To blame are tighter budgets, lower appetite for risk and a realization that some companies haven’t done a great job of keeping their foundational IT investments in order in the first place, recruiters said. The shift is a natural symptom of the economic cycle, they said.

☆ That $7,500 electric vehicle tax credit may soon be harder to get. Here are 2 workarounds
▼ + stars: | 2023-04-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

Why the new EVs credit may be harder to claim$4,000 credit for used EVs has fewer conditionsKrisztian Bocsi/Bloomberg via Getty ImagesThe Inflation Reduction Act also created a tax credit for consumers who buy used electric or fuel-cell vehicles. The tax break for used cars, which took effect in 2023, is worth $4,000 or 30% of the sale price, whichever is less. watch nowThe used vehicle credit applies to a broad selection of cars, she said. Those income limits are "much lower" than the one that applies to the $7,500 tax credit for new vehicles, however, said Katherine Breaks, a managing director in KPMG's tax credit and energy advisory services group. "If I don't have $4,000 of tax liability, what's the tax credit worth to me?

☆ From Teslas to BMWs, cars are piling up on land and at sea in German port of Bremerhaven
▼ + stars: | 2022-11-07 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +4 min

Krisztian Bocsi | Bloomberg | Getty ImagesThe Port of Bremerhaven, the main roll on/roll off port in Germany and one of the largest automobile hubs in the world, is experiencing gridlock. He said car imports into Bremerhaven from the U.S. and Mexico are operating on a timeline of months. Bremerhaven is Europe's fourth-largest containership port, with annual capacity over 5 million TEU [twenty-foot equivalent unit] containers. Another UK strike nearsAt the Port of Liverpool in the U.K., a fourth strike is set for November 14-21 if no deal with port management is reached. Braun told CNBC that since these strikes are well organized there is time in advance to plan and circumvent the port, diverting trade elsewhere.

☆ Oil CEOs say this winter is not the season to worry about when it comes to the energy crisis
▼ + stars: | 2022-11-01 | by ( Natasha Turak | ) www.cnbc.com time to read: +5 min

The global economy is facing an onslaught from multiple sides — a war in Europe, and shortages of oil, gas and food, and high inflation, each of which has worsened the next. But as much concern as there is ahead of this winter, it's really the winter of 2023 that people should be worried about, major oil and gas executives have warned. "It's the next winter I think many of us worry, in Europe, could be even more challenging." watch nowThe CEO of Italian oil and gas giant Eni expressed the same worry. For this winter, Europe's gas storage is around 90% full, according to the International Energy Agency, providing some assurance against a major shortage.

☆ Former Google ads boss launches ‘Web3’ search startup with backing from Coinbase, top VCs
▼ + stars: | 2022-10-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

The round was led by Paradigm, a prolific crypto and "Web3" dealmaker, while Coinbase, Sequoia and Greylock — where Ramaswamy is a partner — also invested. Nxyz was conceived earlier this year by a team of engineers at Neeva, a search engine that doesn't include any ads and blocks online tracking tools. In a March blogpost on Neeva's website, nxyz is described as "an experiment bringing the same user-first ethos of Neeva search to web3." Unlike Neeva and Google — the "Web2" behemoth Neeva wants to disrupt — nxyz's Web3 search software isn't targeted at consumers. "I think it'll be a very different trajectory" to Web3 and crypto companies that have run into financial troubles, he said.

Apple filed two patents in Singapore early in 2020, relating to drones and their control systems. Their filing out of the US and delayed publication suggests Apple may be trying to keep them quiet. The giant had previously filed two other patent applications, indicating some effort had been made to keep the project quiet. It can delay the date that a patent application is made public, and it can submit the application in another country. Both of these patents were originally filed in Singapore, according to Patently Apple.

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