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☆ Continental to phase out activities at Gifhorn plant by end of 2027
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

BERLIN, July 7 (Reuters) - Continental (CONG.DE) said on Friday it plans to phase out business activities at its Gifhorn plant by the end of 2027, with 450 out of 900 jobs at the site affected. The decision was taken "against the backdrop of the sharp increase in cost pressure in the automotive industry, the declining automotive markets, and the high and by international standards uncompetitive cost structure at the site", the company said in a statement. The measures will include relocation of the assembly of latest-generation air supply systems in 2024, relocation of the spare parts business from 2024, and outsourcing of valve block and piston head production to suppliers by the end of 2027. The supervisory board supports the initial measures but will decide on the phase-out at its December meeting, the company said. Reporting by Friederike Heine, Editing by Rachel More and Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Friederike Heine, Rachel More, Miranda Murray Organizations: Thomson Locations: BERLIN

A lawyer for Woehrmann said DWS' internal investigations "did not reveal any evidence of misconduct on the part of my client". A spokesperson for prosecutors in Frankfurt, where DWS is headquartered, would only say an individual was targeted but would not name the person. DWS declined to comment on Woehrmann, but has said that it stands by its financial disclosures and fund prospectuses and is cooperating with investigators. At present, we cannot estimate when and how the proceeding of the Frankfurt Public Prosecutor’s Office will be concluded," DWS said. Woehrmann resigned as CEO of DWS last year after German prosecutors raided the offices of DWS and Deutsche Bank in Frankfurt over the allegations.

Persons: DWS's, Asoka Woehrmann, Patrizia, Woehrmann, DWS, BaFin, Matthias Inverardi, Miranda Murray, Sabine Wollrab, Susan Fenton, Louise Heavens Organizations: Deutsche Bank, Frankfurt Public, U.S . Securities, Exchange Commission, Thomson Locations: FRANKFURT, Frankfurt

☆ Thyssenkrupp Nucera shares up in Frankfurt debut
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT/LONDON, July 7 (Reuters) - Shares in hydrogen firm Thyssenkrupp Nucera (NCH2.DE) traded at 20.20 euros ($21.97) in their market debut in Frankfurt on Friday, in an encouraging sign for Europe's capital markets. The opening price was higher than the 20 euros per share paid by investors in the initial public offering (IPO), which valued the company at around 2.5 billion euros. Nucera is a joint venture between Germany's Thyssenkrupp (TKAG.DE) and Italy's De Nora (DNR.MI). "The IPO is the start of an exciting new phase in our company's history," Nucera CEO Werner Ponikwar said during an opening ceremony at the Frankfurt Stock Exchange, adding that the firm will "accelerate the adoption of green hydrogen". ($1 = 0.9193 euros)Reporting by Christoph Steitz in Frankfurt and Pablo Mayo Cerqueiro in London; Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Thyssenkrupp, Germany's, Italy's De Nora, DNR.MI, Werner Ponikwar, Christoph Steitz, Pablo Mayo, Miranda Murray Organizations: Frankfurt Stock Exchange, Pablo Mayo Cerqueiro, Thomson Locations: FRANKFURT, LONDON, Frankfurt, London

☆ Mercedes to extend CEO Kaellenius' contract - source
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: 1 min

BERLIN, July 6 (Reuters) - Mercedes-Benz wants to extend Chief Executive Ola Kaellenius' contract, a source with knowledge of the matter told Reuters on Thursday, confirming a report in the Handelsblatt business daily. The person said no surprises were expected on the question of another term for Kaellenius, which would keep the 54-year-old at the helm of the German carmaker until at least mid-2029. Kaellenius' contract is currently set to expire in May 2024. Handelsblatt reported that a supervisory board decision was expected on the matter this summer. Reporting by Ilona Wissenbach; writing by Miranda Murray and Rachel More; editing by Sabine Wollrab, Matthias Williams, Madeline ChambersOur Standards: The Thomson Reuters Trust Principles.

Persons: Ola Kaellenius, Kaellenius, Handelsblatt, Ilona Wissenbach, Miranda Murray, Rachel More, Sabine Wollrab, Matthias Williams, Madeline Chambers Organizations: Benz, Reuters, Thomson Locations: BERLIN

☆ Germany's Scholz hints at more chip investments
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

"I know of other plans by German companies and many others," Scholz told the Bundestag lower house of parliament after listing recent projects announced by chipmakers Intel (INTC.O) and Infineon (IFXGn.DE). He vowed that Germany's efforts would help companies become less dependent on semiconductor supplies from other regions, days after China announced restrictions on two metals used in high-speed computer chips. "Many people around the world have understood that we have to become resilient, and that there are certain industries that should necessarily be located here in Europe and in Germany," Scholz said. Intel announced plans last month to spend more than 30 billion euros ($33 billion) on developing two chip-making plants in the central city of Magdeburg. "It's an impressive signal that so many German and international companies are choosing Germany for the expansion of their semiconductor production," Scholz told the Bundestag.

Persons: Olaf Scholz, Scholz, Taiwan's TSMC, Tesla, Matthias Williams, Sarah Marsh, Miranda Murray, Friederike Heine, Emma Rumney Organizations: chipmakers Intel, Infineon, Union, Intel, Thomson Locations: BERLIN, Germany, Europe, China, Moscow, Magdeburg, Berlin

☆ German industry urges reduced dependency after China export controls
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +2 min

The Chinese export restrictions "illustrate the urgency for Europe and Germany to quickly reduce their dependency on critical raw materials now," said Wolfgang Niedermark, a member of the BDI German industrial association. In a position paper, the group said that Germany's and Europe's dependency on mineral raw materials such as rare earths from China was "already greater than that of oil and natural gas from Russia". Another German industry group, Bitkom, called for steps to massively increase Germany and Europe's digital sovereignty . Last week, European Union member states adopted the Critical Raw Materials Act, a centrepiece of the EU strategy to ensure industry can compete with the United States and China. The BDI's Niedermark said that agreement to recycle and process raw materials sent an important signal but called for a similar push to establish domestic mining in Europe.

Persons: Wolfgang Niedermark, Bernhard Rohleder, Niedermark, Rachel More, Hakan Ersen, Madeline Chambers, Miranda Murray, Emelia Organizations: Union, Thomson Locations: BERLIN, Europe, China, Germany, Russia, Berlin, Ukraine, Beijing, United States

☆ German alternative Mastodon gets boost from newly restricted Twitter
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +1 min

BERLIN, July 3 (Reuters) - Turmoil at Twitter following new limits to the amount of posts users can see appears to be driving a surge in activity at Mastodon, a German rival that prides itself on its decentralised, user-driven structure. "Looks like Mastodon's active user base has increased by 110K (110,000) over the last day. Not bad," Eugen Rochko, creator and chief executive of Mastodon, wrote on the platform late on Sunday. "I would prefer it if Elon Musk was destroying his site during the work week. On Saturday, Twitter boss Elon Musk announced new limits on the number of posts accounts can read in a day.

Persons: Eugen Rochko, Elon Musk, Musk, Hakan Ersen, Rachel More, Miranda Murray Organizations: Twitter, Mastodon, Thomson Locations: BERLIN, German

☆ Deutsche Bank completes final phase of Postbank tech integration
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, July 3 (Reuters) - Deutsche Bank (DBKGn.DE) on Monday said that it had completed a fourth and final phase of a years-long technology integration process with Postbank. Germany's largest bank said it would result in cost savings in 2023 and 2024, with annual savings of 300 million euros ($326.52 million) from 2025. Germany's largest bank began acquiring Postbank, with its millions of clients and roots in the country's postal system, in 2008 during the global financial crisis, but it has struggled to complete its integration. Some customers did not have access to all services over the weekend as the bank completed the merger of its IT platforms with Postbank customers. Deutsche will now begin to decommission Postbank hardware and software, contributing to the cost savings.

Persons: Tom Sims, Miranda Murray Organizations: Deutsche Bank, Deutsche, Thomson Locations: FRANKFURT, Germany's

☆ Ford finds international investor for German plant in Saarlouis
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

HAMBURG, June 30 (Reuters) - Ford (F.N) has found what it described as a major international investor for the U.S. carmaker's German plant in Saarlouis and has signed initial agreements together with the western state of Saarland, it said at a works meeting at the plant on Friday. "This is an excellent basis for further negotiations, with the potential to create around 2,500 jobs in Saarlouis," said Martin Sander, head of the company's German unit Ford Werke. "This week we have taken a big step towards this goal," he said, adding that the aim was still to transform the plant and create future employment opportunities. A Ford spokesperson did not name the investor but said only that it is a major international investor. Reporting by Jan Schwartz, Writing by Miranda Murray; editing by Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Martin Sander, China's, Jan Schwartz, Miranda Murray, Matthias Williams Organizations: U.S, Ford Werke, Ford, Street, Thomson Locations: HAMBURG, Saarlouis, Saarland

☆ May retail sales bump in Germany not here to stay - analysts
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

June 30 (Reuters) - German retail sales rose more than expected in May from the previous month, data showed on Friday, though analysts said the surprise rise does not indicate a change in depressed spending. The Federal Statistics Office said retail sales were up 0.4% month-on-month in real terms, beating expectations by analysts polled by Reuters that sales would remain unchanged. Compared with May 2022, sales fell 3.6% in real terms. "Even if May surprised us with an increase in retail sales and April also proved robust, the basic constellation of weak private consumption will change little for the time being," said VP Bank chief economist Thomas Gitzel, who predicted that retail sales will fall again in June compared with the month before. Alexander Krueger, chief economist at Hauck Aufhaeuser Lampe private bank, said consumers were still putting the brakes on spending due to real income losses.

Persons: Thomas Gitzel, Alexander Krueger, Hauck Aufhaeuser Lampe, Rene Wagner, Andrey Sychev, Miranda Murray, Maria Sheahan, Friederike Heine Our Organizations: Federal Statistics Office, Reuters, Bank, Thomson

☆ Deutsche Bank set to finalise Postbank IT integration project this weekend
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, June 30 (Reuters) - Some Deutsche Bank (DBKGn.DE) customers will not have access to all services this weekend as the bank completes the merger of its IT platforms with Postbank customers, a project that will save hundreds of millions of euros in the years to come. In the fourth and final wave of the integration process this weekend, Deutsche Bank will transfer 4 million contracts of 2 million Postbank customers to a common IT system, a Deutsche Bank spokesperson said. It will mean that customers will not have all access to all services over the weekend, which the bank has communicated on Twitter and elsewhere. Deutsche Bank is currently in the process of cutting costs and reducing headcount, and the Postbank technology integration, dubbed internally as project "Unity", will eventually bring savings of 300 million euros ($325.29 million) a year by 2025, the bank has said. After completion, Deutsche will have 19 million customers' contracts from Postbank on a single platform, a milestone for CEO Sewing as he continues to turn around the bank after years of losses and scandals.

Persons: Deutsche, Tom Sims, Miranda Murray, Jane Merriman Organizations: Deutsche Bank, Twitter, Sewing, Deutsche, Postbank, Thomson Locations: FRANKFURT

☆ Biden mocks Republicans for accepting pandemic relief funds while opposing student loan forgiveness: 'My program is too expensive?'
▼ + stars: | 2023-06-30 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

President Joe Biden tore into Republicans for opposing his student loan forgiveness plan. The PPP loans were aimed at keeping business afloat during the pandemic by providing critical backstops to meet payroll and other limited needs. "College loan forgiveness benefits one person and undermines the basic principles of personal responsibility." The Sarasota Republican had over $2.7 million in forgiven PPP loans and interests for car dealerships connected to him. A spokesperson for the Oklahoman blasted Biden for suggesting there was something wrong with opposing student loan forgiveness in light of accepting PPP money.

Persons: Joe Biden, Biden, —, John Roberts, Roberts, Chuck Edwards, Edwards, Vern Buchanan, Buchanan, Kevin Hern, Hern, Miranda Dabney Organizations: Service, Friday's, White, Biden, . Nebraska, North Carolina Republican, Asheville Citizen Times, Florida Republican, Sarasota Republican, Tampa Bay Times ., Oklahoma Republican, Oklahoman Locations: ., Florida, Oklahoma

☆ German inflation bucks downward trend in June with higher-than-expected rise
▼ + stars: | 2023-06-29 | by ( Maria Martinez | Thomson Reuters | Maria Martinez Is A Reuters Correspondent In Berlin Covering German Economics | ) www.reuters.com time to read: +3 min

French and euro zone inflation data is due on Friday. Economists polled by Reuters expect euro zone inflation to fall to 5.6% in June from 6.1% in May. "The June figures in Germany only interrupt the downward trend in the inflation rate and do not mark its end," said Ralph Solveen, senior economist at Commerzbank. Non-harmonized consumer prices rose 6.4% in June year-on-year, following a 6.1% rise in the previous month. The year-on-year rebound in German inflation midway through the second quarter is almost exclusively due to base effects from last year's temporarily-reduced rail fare, said Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics.

Persons: Analysts, Ralph Solveen, year's, Claus Vistesen, Carsten Brzeski, Commerzbank's Solveen, Brzeski, Maria Martinez, Friederike Heine, Miranda Murray, Angus MacSwan, Conor Humphries Organizations: Union, Reuters, Commerzbank, Pantheon, European Central Bank, ING, Economists, ECB, Thomson Locations: BERLIN, Spain, Italy, Germany

Having sex in a car is usually a last resort, born from the trappings of youth. But, without a private place to go to, they found themselves having sex in the back seat of the teamster’s car. Today, Susan shares how car sex turned into something deeper. Want more from Modern Love? We also have swag at the NYT Store and two books, “Modern Love: True Stories of Love, Loss, and Redemption” and “Tiny Love Stories: True Tales of Love in 100 Words or Less.”

Persons: Susan Silas, Susan, —, Anna Martin, Julia Botero, Christina Djossa, Elyssa Dudley, Hans Buetow, Sara Sarasohn, Jen Poyant, Sophia Lanman, Maddy Masiello, Rowan Niemisto, Pat McCusker, Dan Powell, Daniel Jones, Miya Lee, Mahima Chablani, Jeffrey Miranda, Renan Borelli, Nina Lassam, Julia Simon, Anna Diamond, ”

☆ Bayer claims early lead in Parkinson's stem cell therapy
▼ + stars: | 2023-06-28 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

Some of this work is done by Britain's' Cambridge University, South Korea's Bundang CHA Hospital, International Stem Cell Corp's (ISCO.PK) Cyto Therapeutics in Australia, the Chinese Academy of Sciences, Harvard University and Japan's Kyoto University Hospital. For BlueRock's experimental therapy, researchers took induced pluripotent stem cells, which are modified to regain the ability to form any type of specialised tissue, and transformed them into dopamine-producing nerve cells. When surgically implanted into the brain of a person with Parkinson's disease, the therapeutic cells are designed to restore neural networks destroyed by the disease. Initial trial results showed the cells multiplied and started making dopamine, an important brain signalling molecule which is lacking in Parkinson's patients. Parkinson's, for which there is no cure and which affects more than 10 million people worldwide, causes progressive brain damage.

Persons: Wolfgang Rattay, Bayer, BlueRock, Britain's, Jennifer Doudna, Ludwig Burger, Miranda Murray, Mark Potter Organizations: Bayer AG, REUTERS, Bayer, Cambridge University, South Korea's, CHA Hospital, Cyto Therapeutics, Chinese Academy of Sciences, Harvard University, Japan's Kyoto University Hospital, BlueRock Therapeutics, Mammoth Biosciences, Thomson Locations: Leverkusen, Germany, FRANKFURT, Australia, San Francisco Bay

☆ SAP CEO: huge growth potential in generative AI
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of German software group SAP is pictured at its headquarters in Walldorf, Germany, May 12, 2016. REUTERS/Ralph Orlowski/File PhotoJune 28 (Reuters) - German business software maker SAP (SAPG.DE) sees huge growth potential in generative AI technology, Chief Executive Officer Christian Klein told the business daily Handelsblatt in an interview published on Wednesday. The whole development is a huge growth driver for SAP," he said. The SAP CEO also said that generative AI will be able to take over some administrative tasks, such as business appointment management. SAP said in mid-May that it will deepen collaboration with Microsoft (MSFT.O) on joint generative AI projects in the field of personnel recruiting.

Persons: Ralph Orlowski, Christian Klein, Klein, Andrey Sychev, Miranda Murray Organizations: SAP, REUTERS, Microsoft, Thomson Locations: Walldorf, Germany

☆ More Data in the Cloud Means More Centers on the Ground to Move It
▼ + stars: | 2023-06-27 | by ( Miranda S. Spivack | ) www.nytimes.com time to read: +1 min

Known as the Digital Gateway, the land is close to Manassas National Battlefield Park, whose superintendent has expressed concerns about “potential irreparable harm” to the site. Ann Wheeler, chairman of the board of supervisors in Prince William and a strong backer of the zoning change, lost her re-election bid in the Democratic primary last week after a grass-roots campaign to oust her emphasized her support for more data centers. Data centers will increasingly be built farther from some of the traditional locations and will move closer to the clients they serve, according to research by Gartner, an I.T. “They are essentially inhaling massive amounts of energy.”The demand for data centers is so great that as soon as one is on the drawing board, the space is quickly scooped up, even before it goes to market. “Every building that gets built gets leased,” said Ryan Goeller, a commercial real estate broker and principal at KLNB, who specializes in Northern Virginia.

Persons: Ann Wheeler, Prince William, ” Mr, Coakley, “, ”, Ryan Goeller Organizations: Digital, Democratic, Gartner Locations: KLNB, Northern Virginia

☆ Joyce Carol Oates Examines a Dystopian Future
▼ + stars: | 2023-06-23 | by ( Antonia Hitchens | Photography Miranda Barnes For Wsj. Magazine | ) www.wsj.com time to read: 1 min

“Whenever you are writing, it seems like it’s the first time,” says Oates, whose forthcoming book ‘Zero-Sum’ attends to the sinister undercurrents of home life. “I have so many ideas, and I have so many notes here at my study. I just won’t live to write them all,” Joyce Carol Oates said recently. Her oeuvre spans novels, novellas, short stories, plays, poetry, nonfiction and, occasionally, viral tweets, not to mention a Substack. When it comes to her books, the 85-year-old author has often taken on the sinister and the tragic, as with 2022’s Babysitter, a novel about a serial killer in Detroit who chases children, and Blonde (2000), a fictionalized memoir of Marilyn Monroe, which last year was adapted into a film of the same name.

Persons: ”, Oates, ’, “, ” Joyce Carol Oates, Marilyn Monroe Locations: Detroit

☆ ‘And Just Like That …’ Season 2, Episodes 1 and 2 Recap: Relationship Place
▼ + stars: | 2023-06-22 | by ( Ali Trachta | ) www.nytimes.com time to read: +2 min

Meanwhile, Seema actually gives up her Met Ball ticket in order to meet the son of her beau, Zed (William Abadie). This isn’t the only love interest we come to find still has a problematic tie to a former spouse. Over on the West Coast, Miranda finds herself stranded in Malibu without a phone to call an Uber. Which brings me to an argument I made throughout Season 1, which most people disagreed with me on. And it’s not the only swift pack-up we see within these episodes.

Persons: Seema, Zed, William Abadie, Victoire, Rachel Kylian, Miranda, Uber, Che, Lyle, Oliver Hudson, shrugs, biggie, Steve Brady, David Eigenberg, —, Nya, Andre Rashad, LeRoy McClain, hasn’t Organizations: Met Ball Locations: West Coast, Malibu

☆ 'And Just Like That': Carrie Bradshaw is back for spinoff season two
▼ + stars: | 2023-06-20 | by ( Alicia Powell | ) www.reuters.com time to read: +2 min

REUTERS/Caitlin Ochs/File PhotoNEW YORK, June 20 (Reuters) - Carrie Bradshaw is back navigating love in New York City once again in season two of "And Just Like That," where an old flame comes back into her life. "I feel excited about this season," Sarah Jessica Parker, who plays Bradshaw, said in an interview. In this season, Carrie meets up with former fiance Aidan, and there is a surprise appearance by original cast member Kim Cattrall, who played Samantha. In the first season of "And Just Like That," Carrie is only seen messaging with now London-based Samantha by phone. "She appears in text in this season as well and ... just the idea of adding the face to the text felt nice," Parker said.

Persons: Nicole Ari Parker, Kristin Davis, Sarah Jessica Parker, Karen Pittman, Caitlin Ochs, Carrie Bradshaw, Carrie, Bradshaw, Miranda, Charlotte, Samantha, Che, Seema, Nya, Parker, Michael Patrick King, Aidan, Kim Cattrall, Alicia Powell, Marie, Louise Gumuchian, Jonathan Oatis Organizations: REUTERS, Thomson Locations: New York City, U.S, London

☆ Gannett tiptoes into generative AI, giving humans the last word
▼ + stars: | 2023-06-16 | by ( Helen Coster | ) www.reuters.com time to read: +6 min

Their caution follows well-publicized generative AI gaffes at media outlets including CNET and Men’s Journal. Generative AI is a sticking point in some negotiations with the company, the union said. Other news outlets are approaching generative AI with varying levels of commitment and caution. Bloomberg, which competes with Reuters, is developing its own generative AI model, BloombergGPT, which it trained on financial data. The New York Times, Washington Post and Bloomberg declined to provide additional comment on their plans.

Persons: Larry Downing, Renn Turiano, Turiano, ”, We’re, Paul Bascobert, Nicholas Diakopoulos, Ilana Keller, Gannett, Alessandra Galloni, Miranda Marcus, Marcus, “, we’re Organizations: YORK, Gannett, Gannett Co, USA, Gannett Co's, U.S, Reuters, ” Gannett, Northwestern University, CNET, Men’s, USA Today, Journalists, Asbury Park Press, Microsoft, USA Today’s, New York Times, Washington Post, Bloomberg, BBC News Labs Locations: McLean , Virginia, New Jersey, USA, Washington

☆ Germany in intensive talks with Intel on chip plant, economy ministry says
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

BERLIN, June 16 (Reuters) - Germany is in intensive talks with Intel (INTC.O) on plans to set up a new chip-making complex on its soil, the economy ministry said on Friday, without commenting on how much state funding the company was set to receive for the project. "The goal of the government is clear: We want to strengthen Germany as a location for microelectronics. This is highly important for transformation and technological sovereignty, and for this reason we are conducting intensive talks," a ministry spokesperson said. She did not say how much the company would receive in state subsidies for the site in the central German city of Magdeburg. German Chancellor Olaf Scholz will meet with Intel CEO Pat Gelsinger on Monday, according to a government spokesperson.

Persons: Olaf Scholz, Pat Gelsinger, Handelsblatt, Rachel More, Miranda Murray Organizations: Intel, U.S ., Thomson Locations: BERLIN, Germany, German, Magdeburg, U.S

Then, a deep dive into MrBeast and what his YouTube empire says about the future of the internet. Reddit came along and said, oh, we need to protect Reddit from the rise of these large language models. So I don’t think they’re totally out of the woods. But I don’t think people would say it was a golden age for how safe the platforms fell to use. But I want to challenge you on this, because I don’t necessarily think that it’s a bad thing if we have past peak trust and safety.

Persons: kevin roose, you’ve, casey newton, casey newton Yes, I’ve, there’s, kevin roose I’m, Kevin Roose, ” casey newton, Casey Newton, Casey, Reddit, casey newton Right, roose, Steve Huffman, you’re, Kevin, It’s, They’re, casey newton Well, they’ve, we’re, Huffman, “, Redditors, We’ve, Everyone’s, we’ve, I’m, let’s, Sam Walton, Max, kevin roose Hey, kevin roose Oh, kevin roose Max Read, MrBeast, it’s, Jimmy Donaldson, He’s, Willy Wonka, he’s, somethings, haven’t, kevin roose We’ll, We’ll, kevin roose She’s, she’s, kevin roose MrBeast, Jeremiah, jeremiah howard, Jeremiah Howard who’s, Jimmy, Burger, You’re, Stefan Molyneux, PewDiePie, Paul, Let’s, Raman, kevin roose It’s, MrBeast financials, doesn’t, Logan Paul, they’re, Vincent Miller, Jon Hamm’s, Matthew Weiner’s, kevin roose Max, Will, Max Read, ” kevin roose, casey newton Max, Robert F Kennedy, COVID, Kennedy, Instagram, Connor Roy, Marjorie Taylor Greene, Robert F Kennedy Jr, Elon, Donald Trump, We’re, Jim Jordan, kevin roose Totally, Alex Jones, casey newton Totally, Kate Kalanick, Trump, Tucker Carlson, aren’t, — casey newton, hasn’t, Rachel Cohn, Jen Poyante, Caitlin Love, Alyssa Moxley, Dan Powell, Elisheba Ittoop, Marion Lozano, Sofia Lanman, Rowan Niemisto, Paula Szuchman, Tam, Nell Gallogly, Kate LoPresi, Jeffrey Miranda Organizations: The New York Times, Twitter, YouTube, Lamborghini, Netflix, Walmart, News, Producers, Meta, Instagram, COVID, Democratic, Washington Post, Apple, Republicans, Facebook, 4chan, Republican Party, Trump, Fox News, Stanford, Davis Locations: Hawaii, Reddit, Greenville , North Carolina, hysterics, New Jersey, New York, Greenville, North Carolina, Central, United States, Bay, San Francisco, Stanford

☆ Volkswagen to hold series of capital market days for brands, software and battery units
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

Companies Volkswagen AG FollowBERLIN, June 16 (Reuters) - Volkswagen (VOWG_p.DE) will hold a series of capital markets days to present the results of mock listing exercises at each of its brand groups and its software and battery units, according to two sources familiar with the matter. At its capital markets day next Wednesday, the company will present an overview of the group's targets in the next 3-4 years, the sources said on Friday, declining to be named. But the sources said the results will instead be staggered over a series of events focused on the brand groups, software unit and battery unit held over a longer period of time. Executives have repeatedly emphasised that the mock exercises will not necessarily lead to actual listings, though the carmaker is speaking to outside investors about its battery unit PowerCo and has said a listing is a possibility. Reporting by Victoria Waldersee and Jan Schwartz Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Victoria Waldersee, Jan Schwartz, Miranda Murray Organizations: Volkswagen, BERLIN, Shareholders, Thomson

☆ Volkswagen: battery unit PowerCo will be 'investor-ready' early next year
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: 1 min

BERLIN, June 16 (Reuters) - Volkswagen's (VOWG_p.DE) battery unit PowerCo will be ready for investors at the beginning of next year, battery chief Thomas Schmall said at a roundtable in Berlin on Friday. Schmall's statement followed comments made last month by Chief Financial Officer Arno Antlitz that onlookers "shouldn’t be surprised if in 2024 there might be a first step taken with a strategic investor" in the unit. The battery chief declined to give further information on Friday, stating more would be disclosed at Volkswagen's capital markets day next Wednesday. Antlitz said in May that interest in the unit was high but the carmaker was evaluating how long to keep it on its books. Reporting by Victoria Waldersee, Jan Schwartz Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Schmall, Arno Antlitz, shouldn’t, Antlitz, Victoria Waldersee, Jan Schwartz, Miranda Murray Organizations: Thomson Locations: BERLIN, Berlin

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