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☆ Mercedes to release a smaller version of its G Class luxury SUV
▼ + stars: | 2023-09-03 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

The Mercedes-Benz G Class is a luxury SUV that has become popular in the U.S.Mercedes plans to launch a smaller version of its high-end G Class sports utility vehicle, the German carmaker's CEO told CNBC in an interview Sunday. The G Class, a rugged off-road car which starts at just under $140,000, is popular with buyers in the U.S. Now Ola Kallenius, CEO of Mercedes, confirmed a "little G" is on the horizon, a smaller version of the G Class. The G Class is known for being difficult to get your hands on, with Mercedes controlling the supply of the luxury off-road car. "The G Class is an icon, it is difficult to get one.

Persons: Mercedes, Ola Kallenius, Kallenius, CNBC's Annette Weisbach, Bentley Organizations: Mercedes, Benz, CNBC, Rover Locations: U.S

☆ Mercedes to release a 'little' G-Class in a 'few years,' CEO says
▼ + stars: | 2023-09-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMercedes to release a 'little' G-Class in a 'few years,' CEO saysSpeaking at the IAA motor show, Mercedes CEO Ola Källenius talks to CNBC's Annette Weisbach about plans for a "little" G-Class, as well as the path to zero emissions and the future of the brand.

Persons: Mercedes, Ola Källenius, CNBC's Annette Weisbach Organizations: IAA

☆ A marathon, not a sprint: Mercedes-Benz CEO outlines challenges in shift to EVs
▼ + stars: | 2023-07-28 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +2 min

The shift to zero-emission mobility should be viewed as a marathon not a sprint, according to the CEO of Germany's Mercedes-Benz. His comments came as the Mercedes-Benz Group reported earnings for the second quarter this week. "We have a whole host of our, so to speak, first generation electric vehicles on the market now," Kallenius told CNBC Thursday. "So we are bullish on electric vehicles and zero emission driving and we're putting billions into it," he added. "In this case, our production network is flexible to produce both high-tech electrified combustion engines and electric vehicles," he added.

Persons: Germany's Mercedes, Ola Kallenius, CNBC's Annette Weisbach, Kallenius, Mercedes, Benz's EVs Organizations: Benz, Benz Group, CNBC

☆ The ECB has not discussed further reductions to its balance sheet, Lagarde says
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe ECB has not discussed further reductions to its balance sheet, Lagarde saysEuropean Central Bank President Christine Lagarde tells CNBC's Annette Weisbach that its Governing Council has not discussed further reductions to the ECB's balance sheet.

Persons: Christine Lagarde, CNBC's Annette Weisbach Organizations: ECB, European Central Bank

☆ Mercedes-Benz CEO talks product pipeline, China and India
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMercedes-Benz CEO talks product pipeline, China and IndiaMercedes-Benz CEO Ola Källenius made his comments during an interview with CNBC's Annette Weisbach.

Persons: India Mercedes, Ola Källenius, CNBC's Annette Weisbach Organizations: Mercedes, Benz Locations: China, India

☆ Thyssenkrupp Nucera CEO: IPO will help us to be seen in the market
▼ + stars: | 2023-07-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThyssenkrupp Nucera CEO: IPO will help us to be seen in the marketThyssenkrupp Nucera CEO Werner Ponikwar speaks to CNBC's Annette Weisbach. The clean energy firm made its Frankfurt debut on Friday.

Persons: Werner Ponikwar, CNBC's Annette Weisbach Organizations: Frankfurt

☆ ECB chief economist warns markets against pricing in rate cuts within the next two years
▼ + stars: | 2023-06-28 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

European Central Bank Chief Economist Philip Lane on Tuesday warned markets against pricing in cuts to interest rates within the next two years. Earlier this month, the ECB hiked its main rate by 25 basis points to 3.5%, making the latest in a series of increases since July 2022, as policymakers strive to reel in record-high inflation in the euro zone. Headline inflation across the bloc came in at an annual 6.1% in May, down from 7% the previous month. "Where I do think the market should ask itself questions is about the timing or the speed of reversal of restrictive policy," Lane said. His comments echoed those of ECB President Christine Lagarde, who said in a keynote address Tuesday that the central bank had made "significant progress" but "cannot declare victory yet."

Persons: Philip Lane, CNBC's Annette Weisbach, Lane, it's, Christine Lagarde Organizations: European Central Bank, ECB, Central Bank of Ireland Locations: Sintra, Portugal

☆ Belgium's central bank governor: Core inflation needs to go down before there is a pause in rate hikes
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBelgium's central bank governor: Core inflation needs to go down before there is a pause in rate hikesPierre Wunsch, governor at the National Bank of Belgium, speaks to CNBC's Annette Weisbach from the ECB's Sintra Forum.

Persons: Pierre Wunsch, CNBC's Annette Weisbach Organizations: National Bank of Belgium Locations: Sintra

☆ Markets are pricing in rate cuts too soon, IMF's Gopinath says
▼ + stars: | 2023-06-27 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Major central banks will have to keep interest rates high for much longer than some investors expect, Gita Gopinath, first deputy managing director of the International Monetary Fund, told CNBC Tuesday. "Now this is unlike, for instance, what several markets expect, which is that things are going to come down very quickly in terms of rates. The ECB began raising rates in July 2022 and has increased its main rate from -0.5% to 3.5% since then. Nonetheless, Fed Chairman Jerome Powell has suggested there could be at least two more rate hikes this year. In a note to clients on Friday, Nomura said it expects both the ECB and the Bank of England to announce rate cuts in about a year's time.

Persons: Gita Gopinath, Gopinath, CNBC's Annette Weisbach, Jerome Powell, Nomura Organizations: International Monetary Fund, CNBC, European Central Bank, ECB, U.S . Federal Reserve, Fed, Bank of England Locations: Sintra , Portugal, Europe

☆ German energy prices are so high they're driving companies to relocate, industry body says
▼ + stars: | 2023-06-21 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

German energy prices are so high that some companies are considering leaving the country altogether, according to Siegfried Russwurm, head of the German Industry Federation (BDI). CNBC's Annette Weisbach asked Russwurm whether the ongoing energy situation was "bad enough" for companies to relocate, to which he responded: "It is indeed." "A lot of family-owned companies ... have very operational plans to relocate," Russwurm said, adding that the current business conditions in Germany had created a "cocktail" of obstacles for companies. "In my view Germany is an attractive location for both new and existing companies," Habeck said, according to a translation by CNBC. "Of course, materials industries are under pressure as a result of higher energy prices, but there are political decisions to be made."

Persons: Siegfried Russwurm, CNBC's Annette Weisbach, Russwurm, Robert Habeck, Habeck Organizations: German Industry Federation, Industry, CNBC Locations: Germany, Berlin

☆ BaFin president: 'We don't have a global banking crisis at the moment'
▼ + stars: | 2023-05-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaFin president: 'We don't have a global banking crisis at the moment'Mark Branson, president of the German regulator BaFin (Federal Financial Supervisory Authority), told CNBC's Annette Weisbach that Germany has seen the same impacts from higher rates as many other nations around the world.

☆ German regulator warns of a 'nervous time' for banks, predicts stress in the property market
▼ + stars: | 2023-05-09 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Photo: Arne Dedert/dpa (Photo by Arne Dedert/picture alliance via Getty Images)Germany's financial regulator on Tuesday warned that the country's banking system is undergoing a real-life stress test amid the current volatility, also predicting significant weakness for the commercial property sector. Pressures facing the sector have intensified as many central banks push up their benchmark rates, leading to specific market dislocations. Mark Branson, president of the German regulator BaFin (Federal Financial Supervisory Authority), told CNBC that Germany has seen the same impacts from higher rates as many other nations around the world. He said that the German banking system "has taken some pain," but highlighted that there is "no systemic danger" and the financial system has managed to absorb the impacts of higher rates well. However, problems can arise when banks take on additional risk and fail to keep up with a continued and sharp increase in rates.

☆ Volkswagen posts drop in quarterly profit, says it must speed up to catch Chinese EV market rivals
▼ + stars: | 2023-05-04 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

First-quarter sales revenue rose by 22% to 76 billion euros, Volkswagen said, primarily driven by a recovery in sales volumes in Europe and North America. Volkswagen said operating profit fell 31% to 5.7 billion euros ($6.3 billion) through the first three months of 2023, down from 8.3 billion euros over the same period last year. Europe's biggest carmaker said operating profit before valuation effects from commodity hedging, however, increased by 35% to 7.1 billion euros. First-quarter sales revenue rose by 22% to 76 billion euros, Volkswagen said, primarily driven by a recovery in sales volumes in Europe and North America. Asked about the sliding first-quarter sales in China, Volkswagen's replied Antlitz, "We had a slow start in China."

☆ Carrier Global Corp to acquire Viessmann unit in $13.17 billion deal
▼ + stars: | 2023-04-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCarrier Global Corp to acquire Viessmann unit in $13.17 billion dealMax Viessmann, the CEO of Viessmann Group, speaks to CNBC's Annette Weisbach.

☆ Danish Energy Agency: Renewables the answer to Europe's energy sovereignty
▼ + stars: | 2023-03-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDanish Energy Agency: Renewables the answer to Europe's energy sovereigntyKristoffer Böttzauw, director general at the Danish Energy Agency, speaks to CNBC's Annette Weisbach at the Berlin Energy Transition Dialogue Conference.

☆ Stubborn inflation will remain at a very high level, German central bank president says
▼ + stars: | 2023-03-01 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

Joachim Nagel, president of Germany's Bundesbank and one of the ECB's more hawkish members, told CNBC's Annette Weisbach Wednesday that consumer price rises are set to remain stubbornly high. "But still, what we expect for this year for Germany is an average inflation rate of around 6 to 7%." The yield on the 10-year German bund — seen as the main benchmark in the region — rose to its highest level since 2011 on Wednesday. Goldman Sachs said Wednesday that it was increasing its expectations for peak interest rate hikes in the euro area. The ECB is this month starting to sell bonds at a pace of 15 billion euros a month until June.

☆ Inflation will remain at a very high level, German central bank president says
▼ + stars: | 2023-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation will remain at a very high level, German central bank president saysJoachim Nagel, president of the Germany's Bundesbank and one of the ECB's more hawkish members, told CNBC's Annette Weisbach Wednesday that consumer price rises are set to remain stubbornly high.

☆ After a year of death and destruction, Ukraine braces itself for a major escalation in the war
▼ + stars: | 2023-02-24 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +9 min

Emergency service workers extinguish a fire after shelling on the Bakhmut frontline in Ivanivske, Ukraine as Russia-Ukraine war continues on January 02, 2023. Anadolu Agency | Anadolu Agency | Getty ImagesWhen Russia invaded Ukraine a year ago, it shocked the world. Russia and Ukraine have only published data sporadically on their own casualty rates in the war — so we have to rely on estimates. One former NATO official told CNBC that, sooner or later, Ukraine would need to be given combat aircraft. Kenzo Tribouillard | Afp | Getty ImagesAsked whether he believed Ukraine could prevail and win the war before the end of 2023, Shea said two things need to happen: Western weapons need to arrive quickly and Ukraine must be given aircraft.

☆ Mercedes-Benz flags market uncertainty despite 2022 earnings boost
▼ + stars: | 2023-02-17 | by ( ) www.cnbc.com time to read: +2 min

The Mercedes star logo is seen in front of the Mercedes-Benz customer center in Sindelfingen, southwestern Germany, on February 13, 2023. Mercedes-Benz Group on Friday beat analysts' forecasts with annual earnings of 20.5 billion euros ($21.80 billion), but the premium carmaker warned of lower earnings this year due to economic uncertainty. The company hit its forecast of a 13%-15% adjusted return on sales in the cars division, reporting a 14.6% margin for 2022. But it forecast a lower adjusted return of 12%-14% on sales for the cars division in 2023 and group earnings slightly below 2022, even though sales at the Mercedes-Benz Cars business are expected at the same level. Roughly 50% of the company's annual portfolio is financed, he said, meaning that higher rates will have an impact.

☆ Commerzbank chief says he's not preparing for disaster, sees a mild recession
▼ + stars: | 2022-11-18 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

A "mild recession" is on the cards, according to Commerzbank CEO Manfred Knof. Commerzbank CEO Manfred Knof says the bank has prepared for an uplift in nonperforming loans, but the situation is "definitely not a disaster or default issue" as a "mild recession" is likely in the cards. "We have already made provisions but still at the moment we don't see a lot of issues ahead of us," Knof told CNBC's Annette Weisbach at the European Banking Congress in Frankfurt Friday. Nonperforming loans are bank loans likely to be repaid late or not in full and are also known as "bad debt." The chief economist at Berenberg, Holger Schmieding, told CNBC that consumer confidence had "plunged so badly that the recession will likely not be shallow."

☆ ECB will do 'whatever is necessary' to get inflation to 2%, vice president says
▼ + stars: | 2022-11-16 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

De Guindos told CNBC the ECB will do "whatever is necessary" to tame inflation. It is crucial for the European Central Bank to convey its commitment to bringing prices down in order to keep inflation expectations anchored, according to its vice president. Luis de Guindos told CNBC's Annette Weisbach on Wednesday that the main risk of a wage-price spiral was the perception that the central bank's credibility was not strong enough. "That's why we are making such a commitment with price stability … and that we will do whatever is necessary in order to reduce inflation to the level that we consider as price stability, which is 2%," he said. Euro zone inflation is running at 10.7%, the highest level in the bloc's history, and the ECB has hiked its benchmark rate to 1.5%, a level not seen since 2009, before the sovereign debt crisis.

☆ ECB will do 'whatever is necessary' to get inflation to 2%, says Luis de Guindos
▼ + stars: | 2022-11-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB will do 'whatever is necessary' to get inflation to 2%, says Luis de GuindosThe European Central Bank's vice president tells CNBC's Annette Weisbach it is crucial to prove its credibility and anchor inflation expectations by signalling a commitment to bringing down prices.

☆ Porsche shares rise in landmark Frankfurt debut
▼ + stars: | 2022-09-29 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Porsche shares rose in their stock market debut Thursday, in one of the biggest public offerings in Europe ever. Parent company Volkswagen is offering 911 million shares, a reference to Porsche's famous 911 model. "Today is a great day for Porsche and a great day for Volkswagen," Arno Antlitz, Volkswagen's chief financial officer told CNBC's "Squawk Box Europe" Thursday. The organization knew the IPO would be successful, according to Antlitz, citing "strong financials" and "a very convincing strategy for the future." "We were convinced despite the challenging environment this IPO would prove successful, and we were right," he told CNBC's Annette Weisbach.

☆ Confident EU council will introduce gas cap in October, Paolo Gentiloni says
▼ + stars: | 2022-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConfident EU council will introduce gas cap in October, Paolo Gentiloni saysPaolo Gentiloni, the EU's commissioner for the economy, speaks to CNBC's Annette Weisbach at the 2022 Atlantic Council.

☆ Deutsche Bank CEO sticks to targets, promises dividend in 2022
▼ + stars: | 2019-12-10 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

Deutsche Bank shareholders can expect a dividend in 2022, the bank's chief executive confirmed to CNBC Tuesday. Christian Sewing, who has been leading Deutsche Bank since April, said the lender has come a long way over the last few months and remained committed to its targets. "We also want to return capital to the shareholders from the year 2022 on. The bank has been hit by higher competition, lower market share in investment and commercial banking; different litigation charges and various management reshuffles. Its share price has dropped about 82% from 10 years ago.

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