DIRS.INFO The most relevant business & tech news

☆ Germany to speed up power market reform in 2023, minister says
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Feb 20 (Reuters) - Germany will do most of the work this year to prepare its power market for greater reliance on renewable supplies by the end of the decade, Economy Minister Robert Habeck said on Monday. "We will do most of the necessary work in 2023," he said at a consultation meeting on power market reform. To back up swings in green power as more reliable nuclear and coal production is phased out, the government will prepare tenders for gas-fired power capacity, Habeck said. Habeck said the government was working on the assumption that national power usage would reach 700-750 TWh by the end of the decade. Germany's plan may set it apart from some other European Union countries that may hold on to more stable sources of power, said Habeck.

☆ Hungary must bolster judiciary 'very soon' to recover billions from EU, official says
▼ + stars: | 2023-02-18 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +3 min

BRUSSELS, Feb 18 (Reuters) - Hungary must bolster the independence of its judiciary "very soon" to stand a realistic chance of getting any of the 15.4 billion euros envisaged for Budapest from the European Union's COVID recovery stimulus, said a top official in the bloc. Hungary can get some 5.8 billion euros ($6.20 billion) in free grants and another 9.6 billion euros in cheap loans from the EU but the bloc has suspended any payments until Budapest implements reforms to improve judicial independence and tackle corruption. NO TRUSTThe EU Commission has put an end-year deadline on accessing the COVID funds, though several countries have already said they need more time to spend the large emergency aid package. "Those supermilestones for the judiciary have to be done soon" for that to be realistic, said Jourova. The bloc has also long frowned at what international watchdogs say is Orban channelling EU funds to associates to entrench himself in power.

☆ How Putin's Russian goon squad used Mexican gig workers to troll an American election
▼ + stars: | 2023-02-18 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +25 min

Posting to social media sounded like an easy work-from-home gig, so he applied. This post from the Prigozhin-backed Social CMS network in Mexico referred to America as "we." He verified his account by providing chat transcripts, screenshots, contracts, and internal company documents. But just because Social CMS didn't yield an immediate, large-scale impact doesn't mean it should be ignored. "I didn't know who are you," wrote the person who is listed in the corporate directory as Prigozhin's media liaison.

☆ In Argentina's drought-hit fields, billion dollar losses and farmers going under
▼ + stars: | 2023-02-16 | by ( Lucila Sigal | ) www.reuters.com time to read: +4 min

[1/5] Dried sunflowers are seen on a farm, amid Argentina's worst drought in sixty years, in Tostado, northern Santa Fe Argentina February 8, 2023. The wheat harvest was already slashed in half by drought. Like many farmers, Giailevra - who has experienced bad droughts before - has seen his livelihood hammered over the last year. Many farmers in the area say they have lost early-sown corn, wheat and soy, so to rake back income they have planted fields with more drought-resistant cotton. The government has rolled out some tax relief measures for farmers, though with depleted state coffers has limited firepower.

☆ TenneT, Germany's sonnen harness EV batteries to stabilise power grid
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Feb 15 (Reuters) - German solar firm sonnen said on Wednesday it has successfully stored excess grid power in electric car batteries owned by its customers to help stabilise power networks operated by Dutch company TenneT (IPO-TTH.AS), and will expand the business model. Sonnen supplies owners of photovoltaic (PV) installations for generating electricity from rooftop solar panels with storage batteries, to release power to the home when needed and to reduce purchases from the national grid. It introduced a digital "community" for buyers of its residential batteries in 2015 who share home batteries which were aggregated into a virtual power plant (VPP) in 2019. The project with TenneT, which operates 14,000 kms(8,699 miles) of high-voltage grids in Germany, extends to EV batteries as another storage medium, sonnen said in a statement. "Integrating electric cars into the power grid is an important milestone towards responding to the challenges of future power availability," said TenneT chief operation officer Tim Meyerjuergens.

☆ EU lawmakers' body agrees on safeguards against illegal data transfers
▼ + stars: | 2023-02-09 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, Feb 9 (Reuters) - A key committee at the European Parliament on Thursday agreed to stringent safeguards to prevent non-EU governments from gaining illegal access to EU data, drawing criticism from a tech lobbying group. EU concerns about data transfers have grown since former U.S. intelligence contractor Edward Snowden in 2013 revealed mass U.S. surveillance. The committee introduced safeguards against unlawful international data transfer by cloud service providers and set stricter conditions on business-to-government data requests. Tech trade association ITI said lawmakers may be going too far with provisions restricting transfers of non-personal data that exceed those set out under EU privacy rules for personal data. "Data flows are the backbone of the digital economy and allow companies to reach consumers and access new markets.

☆ EU 'disappointed' in Twitter report on how the company fights disinformation
▼ + stars: | 2023-02-09 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

Twitter issued the report, along with other major social media platforms, as part of the 2022 Code of Practice on Disinformation, a set of regulatory standards that 34 companies agreed to follow. "Russia is engaged also in a full-blown disinformation war and the platforms need to live up to their responsibilities," Jourová added. After speaking with Musk, Breton tweeted in November he welcomed the CEO's intent to get Twitter ready for the new regulations. "Huge work ahead still — as Twitter will have to implement transparent user policies, significantly reinforce content moderation and tackle disinformation," Breton said at the time. But in a statement Thursday following Twitter's report, Breton struck a somewhat different tone, though he did not name Twitter directly.

☆ Elon Musk pledged transparency at Twitter. But he’s walling off researchers
▼ + stars: | 2023-02-09 | by ( Brian Fung | ) edition.cnn.com time to read: +10 min

But Twitter’s changes erecting a paywall for API access may jeopardize all that, Tromble and other researchers said. Undermining the fight against botsMusk has framed Twitter’s API restrictions as part of his wider effort to stamp out spammy, automated accounts. Ironically, however, Musk’s looming changes to the Twitter API might make it harder to study bot behavior on Twitter. API access has provided a critical resource for that work. “The researchers who were signed up to the program have heard nothing from the company in months, since Musk’s acquisition.”Adding to Twitter’s scrutiny by regulatorsBeyond the immediate impact to researchers, Twitter’s transparency issues could land the company in hot water with policymakers.

☆ Twitter's efforts against disinformation lagging behind, EU says
▼ + stars: | 2023-02-09 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

The companies on Thursday presented progress reports on compliance with a beefed up European Union (EU) code of practice on disinformation in the last six months. The reports included data on how much advertising revenue the companies had averted from disinformation actors, the number or value of political advertisements accepted or rejected and instances of manipulative behaviours detected. "I am disappointed to see that Twitter's report lags behind others and I expect a more serious commitment to their obligations stemming from the Code," she said in a statement. The EU executive said Twitter's report lacked data and did not contain information on commitments to empower fact checkers. The signatories to the code on Thursday launched a transparency centre allowing EU citizens, researchers and NGOs to access online information about their efforts combating disinformation.

☆ Germany's Scholz: Putin has not threatened me or Germany - Bild
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Feb 5 (Reuters) - Russian President Vladimir Putin in his telephone conversations with German Chancellor Olaf Scholz "has not made any threats against me or Germany," Scholz said in an interview with Sunday newspaper Bild am Sonntag. Scholz said the conversations he had with Putin made it clear they had very different views of the war in Ukraine, which Russia calls a "special military operation." "I make it very clear to Putin that Russia has sole responsibility for the war," Scholz said. "Russia has invaded its neighbour for no reason, in order to take parts of Ukraine or the whole country under its control," Scholz said. Putin casts the military operation in Ukraine as a fight to "disarm" his neighbour, a fellow former Soviet republic, and defend Russia against an aggressive West.

BERLIN, Feb 5 (Reuters) - Germany's Economy Minister Robert Habeck has called for cooperation in green investments between Europe and the United States ahead of meetings in Washington next week with U.S. Treasury Secretary Janet Yellen and other officials. "The USA is now gearing its economy towards green markets and driving forward cost reductions in the development of climate-friendly technologies," Habeck said. EU governments are worried the IRA could not only put European producers at an unfair disadvantage but lure investment away from Europe to the United States. They are likely to want to explore exceptions when the United States implements the plans. The talks will be focused on the U.S. subsidy package in the context of future trade relations between the EU and the United States.

☆ Germany's DFL presses on with deal for media rights
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Feb 4 (Reuters) - Germany's soccer governing body is pressing on with plans to sell parts of the Bundesliga media rights for the country's first and second leagues to private investors, the Deutsche Fussball Liga (DFL) said in a media release on Friday. Valuing the business at between 17 and 20 billion euros, the transaction could bring in 2.5-3 billion euros ($2.70-3.24 billion), Bild said. It stressed it was not about a sale of shares in the Bundesliga but a temporary minority interest in license revenue from the media rights. A spokesperson for DFL, contacted on Saturday about the Bild report, said there was no new comment beyond the Friday night press release. The rights, according to the Bild report, would be granted for 25 to 30 years, with the 36 clubs retaining control.

☆ A Mexico soccer icon entered politics. Prosecutors say narcos followed
▼ + stars: | 2023-02-03 | by ( Cuernavaca | ) www.reuters.com time to read: +27 min

Regional politicians, officials and military officers gathered in the Morelos state capital of Cuernavaca for breakfast in February 2022 to mark Mexico’s annual Army day. Mexican drug lords have a long tradition of buying off politicians in exchange for government protection of their illicit trade. Attempts to reach two of the alleged drug traffickers in the photo – Figueroa and Irving Solano Vera – were unsuccessful. Prosecutors in April asked the Morelos state congress to impeach Blanco so that he could be stripped of that shield. “He likes me very much because I’m not a politician,” Blanco told Reuters, in reference to the president.

☆ 'Party is over': Hapag Lloyd CEO says freight rates to keep declining
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +2 min

HAMBURG, Feb 1 (Reuters) - Container freight rates will keep declining in the current realignment of shipping demand and supply, said the chief executive of Germany's liner Hapag Lloyd (HLAG.DE), the world's number five by transport capacity. "Now we have to fight for every box again to get our ships full," he said. However, he expects freight rates will not fall below costs, which were being kept high by expensive charter rates, high fuel costs and the need to adjust fleets to running on low carbon fuel. Ship docking and scrapping was increasing this year after a period when ship owners kept old vessels running to meet high demand, he said. At the same time, Hapag Lloyd expects to receive a series of new ships it ordered in recent years, including some giant 23,600 twenty foot equivalent unit (TEU) vessels.

☆ Kohl's vs. T.J. Maxx: 5 reasons I find shopping at Kohl's faster, cheaper, and less overwhelming
▼ + stars: | 2023-01-30 | by ( Danielle Bauter | ) www.businessinsider.com time to read: +5 min

Danielle Bauter recently compared shopping at her local Kohl's and T.J. Maxx in Upland, California. Though T.J. Maxx offers more variety, Bauter said shopping there makes her feel a bit overwhelmed. T.J. Maxx also has a rewards program, but it requires that you sign up for a TJX Rewards credit card. Kohl's carries fewer brands than T.J. Maxx, but they speak more to my styleBauter compared shopping at T.J. Maxx to shopping at Kohl's. Though T.J. Maxx carries a wider variety of designers, I can be easily overwhelmed by too many options.

☆ Thousands join rightist rally against Spanish government
▼ + stars: | 2023-01-21 | by ( ) www.reuters.com time to read: +2 min

[1/4] People protest against the government of Spanish Prime Minister Pedro Sanchez at Cibeles Square in Madrid, Spain, January 21, 2023. REUTERS/Susana VeraMADRID, Jan 21 (Reuters) - Thousands of people packed into central Madrid on Saturday to protest against the Socialist government and accuse it of undermining the constitution, in a rally backed by rightist parties. Protesters massed in the Plaza de Cibeles in front of City Hall, waved Spanish flags, called on Prime Minister Pedro Sanchez to resign and shouted out "traitor". Around 200km (120 miles) away in the northwestern city of Valladolid, Sanchez told a Socialist rally that the protesters in Madrid were defending a "uniform" and therefore "discriminatory" Spain. Its recent decision to replace the crime of sedition with a lesser crime was opposed on the right.

☆ Germany publishes plans to hit 30 GW offshore wind target in 2030
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Jan 20 (Reuters) - Germany on Friday said it has drawn up new development plans for offshore wind turbine sites to reach a target for 30 gigawatts (GW) of installed wind power capacity by 2030. When the current government took power in late 2021, its coalition agreement stipulated 30 GW wind power, adding 10 GW to previous plans. Germany aims to derive 80% of its power from clean sources by 2030, compared with just under half in 2022. To speed up development of the offshore sites and override other uses, offshore wind has been declared to be of high public interest, and measures to create links to onshore electricity networks have been accelerated. Because offshore wind can be turned into clean hydrogen via electrolysis plants, plans for a North Sea-originating pipeline to carry 1 GW hydrogen were also integrated.

Below are answers to the most urgent questions:HOW HAS GERMANY RESPONDED TO THE LOSS OF RUSSIAN GAS? Germany launched a multi-layered strategy to reign in demand and source alternatives following Russia's invasion of Ukraine and the subsequent decline in gas deliveries. Germany is now getting more pipeline gas from neighbouring Europe and Norway, buying liquefied natural gas (LNG) via existing European terminals, and constructing new LNG terminals on German coastlines, as well as achieving gas savings. Gas stocks are 89% full, enough to get Germany to the end of March even in a prolonged cold spell, according to most recent statistics, before re-filling starts in the April to September storage season. As a rule of thumb, Germany depletes its stocks by a rate of around 1% per day if temperatures fall below zero degrees, the regulator has said.

☆ Nord Stream 2 German subsidiary wound up -report
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Jan 20 (Reuters) - The German subsidiary of the consortium behind the Nord Stream 2 gas pipeline has been wound up, German news portal T-Online reported on Friday citing trade registry documents. Nord Stream 2 would have doubled Russia's gas export capacity to Germany via the Baltic Sea but Germany withheld permission to operate after Moscow's sent troops into Ukraine last February. "It has no information about a dissolution of the company," the spokesperson said, but noted a provisional debt restructuring moratorium granted to Nord Stream 2 AG, the company's Switzerland-based parent, had been extended until January 10. Nord Stream 2 was not immediately available for comment. As-yet unexplained explosions occurred on the parallel Nord Stream 1 pipeline and on one line of the twin-piped Nord Stream 2 in Swedish and Danish waters in September 2022.

☆ Germany's gas situation is secure this winter, regulator says
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

[1/2] The landfall facilities of the 'Nord Stream 1' gas pipeline are pictured in Lubmin, Germany, March 8, 2022. REUTERS/Hannibal HanschkeBERLIN, Jan 17 (Reuters) - Germany's gas supply situation is secure and gas shortage is unlikely to happen this winter, the head of the country's network regulator said on Tuesday. "With savings, gas inflows, good storage levels ... We are very, very optimistic that we will no longer have to worry about a gas shortage this winter," Klaus Mueller said at an energy summit organised by Handelsblatt newspaper. Mueller said he expected a relatively warm winter which will help the power supply situation in both France and Germany. Reporting by Riham Alkousaa, Christoph Steitz and Vera Eckert Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

☆ Uniper CEO: Nord Stream can be fixed, but unclear if Germany wants Russian gas
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

Companies Uniper SE FollowGazprom PAO FollowFRANKFURT, Jan 17 (Reuters) - The damaged Nord Stream pipelines can be fixed in around six months to a year, the boss of bailed out German gas trader Uniper said on Tuesday, adding that it still remained unclear whether Germany wants the supply relationship to continue. "The first question that needs answering: what's the political will on a European level and in Berlin to bring Russian gas to Germany?" outgoing Uniper (UN01.DE) CEO Klaus-Dieter Maubach told the annual Handelsblatt Energy summit. Reporting by Christoph Steitz and Vera Eckert; editing by Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

"We have the ambition to become a profitable company in 2023," Laege said, adding the group had also secured long-term regasification capacity at the planned Hanseatic Energy Hub terminal in Stade, Germany. Laege said that Sefe, formerly called Gazprom Germania, was successful in sourcing LNG mainly from the United States, both short-term deals and for longer periods. The company, whose name is short for Securing Energy for Europe, had already unloaded a first cargo at Dunkirk, he said. However, next winter and beyond could be tight again if cold periods and a fast recovery of Asian LNG demand coincide. Reporting by Vera Eckert, Christoph Steitz, Tom Kaeckenhoff, editing by Kirsti Knolle and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Spanish pets blessed by priests in annual ritual
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

[1/7] "Lola" reacts upon getting blessed at San Anton Church during celebrations on the feast of Spain's patron saint of animals, Saint Anthony, in Madrid, Spain, January 17, 2023. REUTERS/Susana VeraMADRID, Jan 17 (Reuters) - Hundreds of Spanish pet owners took their animals to church on Tuesday where Catholic priests blessed them on the Day of St Anthony the Abbott, the patron saint of animals. A few dogs barked, but most animals waited patiently to be sprinkled with holy water on the steps of the baroque St Anthony's Church in central Madrid. Priest Angel Garcia then said Mass in front of dozens of pets inside, also to some barking from the pews. Reporting by Guillermo Martinez and Silvio Catellanos, writing by Andrei Khalip, editing by David Latona, Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

☆ Wintershall Dea urges Germany to clear CO2 exports for storage
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Jan 16 (Reuters) - German oil and gas producer Wintershall Dea (WINT.UL) (BASFn.DE) urged Berlin on Monday to clear exports of carbon dioxide to European neighbours that would be buried in so-called carbon capture and storage facilities (CCS). Wintershall is involved in various CCS projects, including in Norway and Denmark, which aim to store CO2 in depleted oil and gas fields. The early capture of CO2 emissions in the production process and their subsequent storage could help achieve climate targets and provide a new area of activity for hydrocarbon exploration companies. Unavoidable residual emissions in Germany currently amount to well over 40 million tonnes per year from industries such as chemicals and cement, Langemann said. Wintershall Dea plans to build up a business capturing 20-30 million tonnes of CO2 per annum by 2040.

☆ German hard coal importers able to replace Russian supply -industry body
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +2 min

"Traders have found new focal points: United States, South Africa and Colombia," industry association VDKi said in a statement. Between January and October 2022 Russia still accounted for a leading 34% of hard coal volumes imported by Germany, data presented by VDKi showed. That reflected Russia's role as a major supplier before the EU introduced a ban on Russian coal imports last August amid sanctions following Russia's invasion of Ukraine. Hard coal imports into Germany last year amounted to 43 million tonnes, 4.7% more than recorded in 2021, preliminary VDKi data also showed. Out of the total, 30 million tonnes were steam coal for electricity plants, up 11.7% year-on-year, and 11 million tonnes were coking coal for steelmaking, down 7.3%.

Search resuls for: "Vera"

25 mentions found