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☆ 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.

☆ Op-ed: Oil CEO Sultan Al Jaber is the ideal person to lead the UN climate conference this year
▼ + stars: | 2023-01-14 | by ( Frederick Kempe | ) www.cnbc.com time to read: +7 min

Nowhere is this shift among climate activists more evident than in Germany, where Vice Chancellor Robert Habeck, the Green Party leader, is serving as the pragmatist-in-chief. Some climate activists were aghast this Thursday when the UAE named Sultan Al Jaber, the CEO of the Abu Dhabi National Oil Company (ADNOC), as president of this year's COP 28. Al Jaber, speaking to the Atlantic Council Global Energy Forum on Saturday, captured his ambition to drive faster and more transformative results at COP 28. "We are way off track," said Al Jaber. "We will work with the energy industry on accelerating the decarbonization, reducing methane, and expanding hydrogen," said Al Jaber.

☆ Tesla drops as the EV maker cuts prices in the US and Europe, deepening the stock's rout
▼ + stars: | 2023-01-13 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

GettyTesla shares fell Friday after the company cut prices on its electric vehicles in the US and in Europe. Tesla stock finished 2022 among the S&P 500's 10 biggest decliners. Investors may later come to see Tesla's price cuts as the 'right' move directed by CEO Elon Musk, said Wedbush Securities. Tesla's moves in the US and in Europe follow recent price cuts in China and other markets in Asia aimed at bolstering sales. Tesla in 2022 delivered a record 1.3 million EVs but fourth-quarter deliveries fell short of market expectations.

☆ Tesla has slashed the prices of its Model 3 sedan and Model Y SUV between 6% and 20% in the US, as it reverses strategy after demand tapers
▼ + stars: | 2023-01-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Tesla has slashed the prices of its Model 3 sedan and Model Y SUV between 6% and 20% in the US. Prices of the Model 3 sedan and Model Y SUV were slashed on Thursday. Meanwhile, the long range Model Y now costs $52,990 — a 20% price cut from its sticker price of $65,990 previously. Tesla also slashed EV prices in the European markets like Germany, Austria, Switzerland, and France, per Reuters. At the end of 2022, Tesla was offering a rare $7,500 discount on its Model 3 and Model Y vehicles.

☆ Euro zone inflation rate slides to 9.2% as energy price surge cools
▼ + stars: | 2023-01-06 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

Inflation in Europe has been impacted by higher energy prices and supply shortages. Inflation in the euro zone dropped for a second consecutive month in December, but analysts do not expect it to spark a change in tone from the European Central Bank. It follows November's headline inflation rate of 10.1%, which represented the first slight contraction in prices since June 2021. At the time, the central bank forecast an average inflation rate of 8.4% for 2022, 6.3% for 2023 and 3.4% for 2024. Carsten Brzeski, global head of macro at ING Germany, said these numbers "are not a relief, yet, only a reminder that euro zone inflation is still mainly an energy price phenomenon."

☆ Fact Check-No evidence of family link between Messi and Nazi Bohne
▼ + stars: | 2023-01-03 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

No evidence supports a rumor that Argentinian soccer star Lionel Messi is related to Gerhard Bohne, a Nazi who was extradited from Argentina in the 1960s. There is no evidence of close or distant family links to Bohne. Journalists Guillem Balagué (here) and Luca Caioli (lucacaioli.com/libros/messi/), who have both written biographies of Messi, told Reuters the rumor about Bohne is unfounded. Caioli said the Messi family is from the Italian region of Marche and that claims regarding a purported link to Bohne “do not add up.”Messi’s representative declined to provide a comment on the claim. There is no evidence of a family connection between Argentina’s Lionel Messi and Nazi Gerhard Bohne.

☆ Sky spinoff is Comcast’s least-bad option
▼ + stars: | 2023-01-03 | by ( Jennifer Saba | ) www.reuters.com time to read: +3 min

The boss of U.S. media giant Comcast (CMCSA.O) may want to make an exception for Sky. Including acquired debt, Roberts paid a multiple of 15 times Sky’s EBITDA to clinch the deal, two and a half times the company’s enterprise value before the takeover battle began. The financial consequences of Roberts’ determination became apparent in October when Comcast took a non-cash impairment charge of $8.6 billion related to Sky. Goldman Sachs analysts expect Sky to generate adjusted EBITDA of $2.1 billion in 2023, nearly one-third less than in 2019. Comcast said on Oct. 27 that it took a non-cash impairment charge of $8.6 billion related to Sky assets for the third quarter of 2022.

☆ Roborock Is Building a Customer-First Brand of Robot Vacuums
▼ + stars: | 2023-01-02 | by ( Sponsor Post | Created Insider Studios With Roborock | ) www.businessinsider.com time to read: +6 min

"I never intended to create a robot of my own," Richard Chang, Roborock founder and CEO, said. Kickstarting an entrepreneurial journeyRoborockToday, Beijing-based Roborock is among the biggest robot vacuum manufacturers in the world. RoborockThe result was the launch in 2016 of the first Roborock robot vacuum cleaner the Mi Home Robot Vacuum Cleaner. Since then, Roborock has produced a steady stream of models that have continued to set the standard in robot vacuum technology, culminating in the Roborock S7 MaxV Ultra, which was featured on Time magazine's Best Inventions of 2022. It also allows users to operate their robot vacuum overnight, in complete darkness.

☆ 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.

☆ German exporters prepare for a challenging 2023
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +2 min

The United States and China are Germany's most important trading partners. "We have a stronger euro again because of the ECB interest rate increases. He added that higher interest rates were already having an impact in the United States where they have risen further, especially on the construction industry. To tame soaring inflation, the European Central Bank and the U.S. Federal Reserve have raised interest rates at the fastest pace in decades and both are expected to do more next year. German exporters had not been able to fully process all orders in recent months due to supply shortages, Jandura said.

☆ European countries switch off Christmas lights this winter to cut energy usage as Russia keeps tight hold on gas supply
▼ + stars: | 2022-12-21 | by ( Kate Duffy | ) www.businessinsider.com time to read: +4 min

European countries have turned off or reduced Christmas lights this year to cut down on energy use. Russia's crackdown on gas supplies to Europe has led to energy-saving measures on the continent. United KingdomThe infamous Christmas lights in London are running for fewer hours this year, according to the organizer the New West End Company. Smaller towns across the UK have also decided to switch off their Christmas lights in order to save money, per reports. GermanyAccording to the German non-profit environmental organization, Deutsche Umwelthilfe, Christmas lights in houses, apartments, and cities should be unplugged this year.

☆ Soccer-In year of drama, World Cup shines spotlight on growth in the sport
▼ + stars: | 2022-12-20 | by ( Manasi Pathak | ) www.reuters.com time to read: +5 min

Dec 20 (Reuters) - Lionel Messi's World Cup fairytale lit up the year in soccer as heroics and heartbreak at the finals captivated fans and highlighted the growth of the world's most popular sport despite the criticism of host country Qatar's human rights record. With matches played in air-conditioned stadiums to cope with the heat of the desert state and no beer on tap in stadiums, spectators experienced a World Cup like never before. Playing in a fifth World Cup for Argentina, the incomparable Messi once again left everyone in awe of his magical powers on the field as he smashed records and delivered on the hopes of a nation, bringing the World Cup home after 36 years. The South American giants were handed a shock defeat by Saudi Arabia in their first group game, which statisticians Gracenote credited as the biggest upset in World Cup history. With every continent represented in the World Cup last 16, the most diverse knockout stage in the tournament's history was evidence of the sport's expanding reach.

☆ Germany hands over 20 looted Benin Bronzes to Nigeria
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Lisi NiesnerABUJA, Dec 20 (Reuters) - Germany has handed over 20 Benin Bronzes from its museums to Nigeria, German Foreign Minister Annalena Baerbock said on Tuesday, making it the latest European country to return cultural artefacts to their African homeland. Germany had agreed to start returning Benin Bronzes held in its museums last year. Earlier this year, Germany signed a declaration with Nigeria to release all 1,130 Benin Bronzes - actually copper alloy relief sculptures, many showing court figures - in German public museums. The returns are likely to increase pressure on the British Museum in London, which holds by far the largest and most significant collection of Benin Bronzes. Nigeria's information minister called on the British Museum to release the more than 900 Benin Bronzes it has.

European Union energy ministers agreed to a "dynamic" cap on natural gas prices Monday after two months of intense negotiations. Introducing a limit on gas prices has proved controversial for European officials. When applied, it will set a "dynamic bidding limit" on natural gas futures transactions for 20 working days. The Dutch TTF traded around 109 euros per megawatt hour on Monday. Kremlin spokesman Dmitry Peskov said the measure was an attack on market pricing and "unacceptable," Reuters reported, citing Russia's Interfax news agency.

☆ Europe Can’t Afford to Name Its Gas Price
▼ + stars: | 2022-12-15 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Germany, which is building a new liquefied natural gas terminal at the port of Brunsbüttel, opposes a proposed cap on prices of the fuel. European governments are squabbling over plans to cap natural-gas prices. High energy bills are causing pain, but it might be for the best if they can’t strike a deal. Energy ministers will meet again next Monday after failing this week to agree to a cap on the wholesale price the European Union will pay for liquefied natural gas. Others want to protect consumers and industry from the sky-high prices since Russia invaded Ukraine.

CNN —The Biden administration is finalizing plans to send the Patriot missile defense system to Ukraine that could be announced as soon as this week, according to two US officials and a senior administration official. Unlike smaller air defense systems, Patriot missile batteries need much larger crews, requiring dozens of personnel to properly operate them. The training for Patriot missile batteries normally takes multiple months, a process the United States will now carry out under the pressure of near-daily aerial attacks from Russia. Last month US Secretary of State Antony Blinken told CNN that the US is “very focused” on providing air defense systems to Ukraine. “We’re now very focused on air defense systems and not just us, many other countries,” Blinken told CNN’s Christiane Amanpour.

☆ Robots set their sights on a new job: sewing blue jeans
▼ + stars: | 2022-12-12 | by ( Timothy Aeppel | ) www.reuters.com time to read: +5 min

[1/5] A robotic arm positions pieces of stiffened fabric for a demonstration of automated sewing at the Industrial Sewing and Innovation Center in Detroit, Michigan, U.S. August 19, 2021. Industrial Sewing and Innovation Center/Handout via REUTERSDec 12 (Reuters) - Will a robot ever make your blue jeans? Finding a way to cut out handwork in China and Bangladesh would allow more clothing manufacturing to move back to Western consumer markets, including the United States. Rather than teach robots how to handle cloth, the startup, Sewbo Inc., stiffens the fabric with chemicals so it can be handled more like a car bumper during production. The first step is getting robots into clothing factories.

☆ EU gets another reason for a gas cap U-turn
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, Dec 9 (Reuters Breakingviews) - The European Commission’s gas cap has taken some withering friendly fire. The European Central Bank has slammed the proposal for threatening financial stability and putting the central bank in an untenable position, in an opinion published on Thursday. The gas cap, put forward under intense political pressure, has exposed divisions among European Union member states. Instead of crafting a workable compromise, the Commission plan seems to have achieved the impressive feat of being both unusable and a danger to financial stability. Ahead of next week’s European leaders’ summit, the smart move is to scrap it.

☆ Scholz: Risk of Russia using nuclear weapons has diminished, for now
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Dec 8 (Reuters) - The risk of Russian President Vladimir President Putin using nuclear weapons as part of his war in Ukraine has decreased in response to international pressure, German Chancellor Olaf Scholz said in an interview published on Thursday. "Russia has stopped threatening to use nuclear weapons. Putin said on Wednesday that the risk of a nuclear war was rising but insisted Russia had not "gone mad" and that it saw its own nuclear arsenal as a purely defensive deterrent. Funke said the interview with Scholz was conducted on Monday and quotes authorised on Wednesday afternoon. "We are doing everything we can to prevent a direct war between Russia and NATO.

☆ Germany, Netherlands set out red lines on EU gas price cap
▼ + stars: | 2022-12-08 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

The group, which also includes Austria, Denmark, Estonia and Luxembourg, laid out their red lines on the proposed EU-wide gas price cap, which countries are aiming to approve at a Dec. 13 meeting of energy ministers in Brussels. Belgium, Italy, Poland and Greece are among the countries who say a price cap is needed to shield their economies from high gas costs. They want a far lower price limit than the one proposed by the Commission. Germany and the other cap sceptics also demanded stronger safeguards in case the price cap caused unintended consequences - which gas market participants have warned could be severe. They proposed "red light criteria" that would trigger an automatic suspension of the price cap in an emergency, for example if Europe's gas demand jumps.

His centre-left Social Democrats, the Greens and liberal Free Democrats, have had to wrangle to reach compromises, sometimes delaying decisions. Some European allies say the focus on domestic challenges and internal politicking have distracted Berlin from regional cooperation and especially the key German-French motor that traditionally drives the European Union. Relief measures worth hundreds of billions of euros have helped Scholz's coalition stave off serious social unrest due to soaring energy prices in the wake of the Ukraine war, but recent polls suggest it has lost its majority. MIXED MESSAGESTo be sure, Germany's allies have welcomed the Zeitenwende after years of warning the country of complacency on security. The government may for example not reach the NATO spending goal until 2025, a spokesman said this week.

☆ Germany team director Bierhoff leaves role after World Cup debacle
▼ + stars: | 2022-12-06 | by ( Karolos Grohmann | ) www.reuters.com time to read: +1 min

DOHA, Dec 6 (Reuters) - Germany team director Oliver Bierhoff has become the first casualty of their first-round World Cup exit in Qatar after agreeing to leave his post two years before his contract ends, the DFB said on Tuesday. Former Germany international Bierhoff, who had been in his post as team director for the last 18 years, was widely criticised following their second consecutive shock early exit at a World Cup. Bierhoff played a part in helping Germany win the last of their four World Cup titles in 2014 and Neuendorf said his efforts would not be forgotten. "He will always be linked with the World Cup success in Brazil," he added. The Germans had also tumbled out of the 2018 World Cup at the same stage - at the time their earliest exit in 80 years.

☆ Speed far above the limit and we'll take your car, Austria says
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +2 min

VIENNA, Dec 5 (Reuters) - Drivers in Austria guilty of extreme speeding will have their cars seized and auctioned off, the government said on Monday, seeking to deter "boy racers" by threatening to take away their prize possession. Local authorities say they are trying to bring illegal street races and other cases of extreme speeding under control. Specifically, anyone caught driving 60 km per hour (37 miles per hour) above the speed limit in towns, where the speed limit is usually up to 50 kph, or 70 kph above the limit elsewhere, where the limit is up to 130 kph, will have their car seized for up to two weeks, according to the government's plan. The latest plan is in addition to measures introduced last year that increased how long drivers lose their licenses for in cases of speeding and extreme speeding. "He who has no car anymore cannot speed anymore.

☆ Arsène Wenger claims teams who focused on ‘competition’ rather than ‘political demonstrations’ performed better at the World Cup
▼ + stars: | 2022-12-04 | by ( George Ramsay | ) edition.cnn.com time to read: +3 min

CNN —Former Arsenal manager Arsène Wenger said teams who focused on “competition” rather than “political demonstrations” performed better in the group stages of the World Cup. “Going to the World Cup, you know you have to not lose the first game,” said Wenger, who has taken up a role as FIFA’s chief of global football development since stepping away from management, said on Sunday. Seven European nations, including Germany, were set to wear the armbands at the World Cup, but chose not to so as not to put players at risk of receiving yellow cards. Social media users were critical of Wenger drawing a correlation between teams protesting and underperforming on the pitch. “Disgraceful comments by Wenger,” Craig Foster, a former Australian midfielder turned human rights activist, wrote on Twitter.

☆ Russia's Putin tells Germany's Scholz that Western line on Ukraine is 'destructive' - Kremlin
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +2 min

Dec 2 (Reuters) - Russian President Vladimir Putin told German Chancellor Olaf Scholz in a phone call on Friday that the German and Western line on Ukraine was "destructive" and urged Berlin to rethink its approach, the Kremlin said. "Attention was drawn to the destructive line of Western states, including Germany, which are pumping the Kyiv regime with weapons and training the Ukrainian military," the Kremlin said. Kyiv says peace talks are possible only if Russia stops attacking Ukrainian territory and withdraws its troops from Ukrainian soil. Putin "called on the German side to reconsider its approaches in the context of the Ukrainian events", the Kremlin added. It said Putin defended Russia's missile strikes on targets in Ukraine as a forced response to Ukrainian attacks on Russian infrastructure, including a key bridge between Russia and Crimea.

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