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☆ Novo Nordisk quarterly profit meets expectations as Wegovy maker narrows full-year guidance
▼ + stars: | 2024-11-06 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Novo Nordisk on Wednesday reported third quarter earnings broadly in line with expectations and narrowed its 2024 full-year growth guidance. The Danish pharmaceutical giant said that its net profit in the third quarter hit 27.3 billion Danish kroner ($3.92 billion), above an LSEG aggregate estimate of 26.95 billion Danish kroner. EBIT — earnings before tax and income — came to 33.8 billion Danish kroner, also just above the LSEG forecast of 33.51 billion Danish kroner. The guidance reflected the company's expectations for sales growth in North America and internationally, which is largely driven by volume growth of treatments based on Glucagon-like peptide-1 (GLP-1), Novo Nordisk said. Novo Nordisk added that it was investing in capacity both internally and externally to increase supply in the short- and long-term.

Persons: —, — CNBC's Annika Kim Constantino Organizations: Novo Nordisk, Wednesday, Novo, Nordisk, U.S . Food, Drug Administration Locations: Danish, North America, Novo, U.S

☆ How athletes turned entrepreneurs optimize payments for their sports retail businesses
▼ + stars: | 2024-11-04 | by ( Sponsored Paypal | ) www.businessinsider.com time to read: +4 min

Cricket player Jamie Harvey and foosball player Oke Harms turned their love of sport into business. German national foosball player Oke Harms launched his online store Kickerkult.de in 2008 to serve fellow foosball enthusiasts with equipment and training. "The beginning of the business was pretty hard because it was uncommon at that time to order a foosball table online," Harms said. Cricket-Hockey has seen success by offering its customers flexible payment options, such as PayPal Pay Later, which helped sales grow over time. "PayPal gives our customers many payment methods, whether they shop online or in-store," Harms said.

Persons: Jamie Harvey, Oke Harms, Harvey, Harms, it's, Ose Harms, Sophie Wedgwood, " Harms, Kickerkult, 1Available Organizations: Cricket, Hockey, Southern Premier League, PayPal, Insider Studios

☆ Germany's government is on the brink of collapse — here’s what could happen now
▼ + stars: | 2024-11-04 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

Holger Schmieding, chief economist at Berenberg, noted that the three coalition partners have been acting "as if they were preparing to campaign against each other soon." Separately, the Green party's Robert Habeck, who is Germany's economy minister, proposed a policy plan to stimulate business investment that was criticized by the FDP. The Lindner paperAnother escalation took place on Friday, when Finance Minister Christian Lindner published a paper about reviving the struggling German economy. "The paper reads like a serious attempt to analyze Germany's problems and propose solutions. A hotly contested budgetA recent key issue within the coalition has been Germany's budget for 2025 — a topic that also features heavily in Lindner's paper.

Persons: Christian Lindner, Robert Habeck, Olaf Scholz, Sean Gallup, Chancellor Olaf Scholz's, Carsten Brzeski, Holger Schmieding, Scholz, Lindner, Greg Fuzesi, Morgan, Fuzesi, Berenberg's Schmieding Organizations: Climate, Bundestag, Getty, Chancellor Olaf Scholz's Social Democratic Party, SPD, Greens, Free Democratic Party, ING, FDP, Green, ZDF Locations: Berlin, Germany

☆ China urges France to get EU to arrive at palatable EV trade solution
▼ + stars: | 2024-11-04 | by ( ) www.cnbc.com time to read: +1 min

European leaders have struggled to formulate a unified Sino-European strategy, with some states echoing U.S. calls for a complete disassociation — or decoupling — while others have preferred a softer, derisking approach. China has urged France to take on "an active role" to push the European Commission towards a solution acceptable to both the European and Chinese electric vehicle industries, Beijing's commerce ministry said on Monday, citing its minister. Wang Wentao, in a meeting with French junior trade minister Sophie Primas in Shanghai on Sunday, reiterated the European Union's investigation into China's EVs is a major concern and has "seriously hindered" China-EU auto industry cooperation. The EU launched an anti-subsidy investigation into imports of Chinese-made battery EVs last year and in October voted for tariffs on those vehicles. China in the past year has launched its own investigations into European pork and dairy, and imposed temporary anti-dumping measures on imports of brandy from the EU early this month.

Persons: Wang Wentao, Sophie Primas Organizations: European Commission, French, Sunday, EU Locations: China, France, Shanghai, EU

☆ More wealthy travelers are going on luxury safaris — some for more than $2,500 a day
▼ + stars: | 2024-11-04 | by ( Brittany Chang | ) www.businessinsider.com time to read: +7 min

Some luxury travel agencies and tour operators say they've seen an uptick in travelers booking luxury safaris. She's not alone — as of late, a growing number of travelers have been itching to go on a luxurious African safari, too. Micato SafarisLuxury tour operator Abercrombie and Kent's African safaris have always been among its best-selling vacations, the company told BI in an email. AdvertisementSome luxury travel agencies are noticing it, tooLuxury travel agency Indagare told BI in an email that safari bookings are "trending upward. AdvertisementWith such prices, some travelers might consider luxury safaris a once-in-a-lifetime experience.

Persons: —, Sophie Serrano, Serrano, " Serrano, She's, Abercrombie, buffalos —, Dennis Pinto, Safaris, Micato, Pinto, Richard Waite, Oprah, Ellen DeGeneres, — Singita, Singita, Melissa Krueger, Indagare, Scott Dunn, Julie Durso, Jackie Roth, Sophie Serrano Misty Belles, Take Serrano, Isabella John Organizations: Service, Micato's, Scott Dunn Private, Nomad, Kruger Locations: Zanzibar, Africa, Kenya, Tanzania, Rwanda, Tanzania's, Botswana, South, Umlani's

☆ IKEA will pay 6 million euros to East German prisoners forced to build their furniture in a landmark move
▼ + stars: | 2024-11-03 | by ( Sophie Tanno | ) edition.cnn.com time to read: +4 min

CNN —Furniture giant IKEA has agreed to pay 6 million euros ($6.5 million) towards a government fund compensating victims of forced labor under Germany’s communist dictatorship, in a move campaigners hope will pressure other companies to follow. Political as well as criminal prisoners in Germany during the Cold War era were forced to build flatpack furniture for IKEA. IKEA representatives at the time were likely aware that political prisoners were being used to supplement labor, the report found. Sven Hoppe/picture-alliance/dpa/AP“After it became known that the company was involved in forced prison labor, IKEA accepted our invitation to talk. According to UOGK, IKEA is one of many companies that benefitted from forced prison labor in communist Germany.

Persons: Ernst, Young, Andreas Hampel, East Germany’s, Walter Kadner, “, ”, Dieter Dombrowski, UOGK, Sven Hoppe, ” Dombrowski, Rainer Wagner, Evelyn Zupke Organizations: CNN, IKEA, German Democratic, Getty, Union of Victims ’, of Communist, IKEA Germany Locations: Germany, East Germany, Soviet Union, German Democratic Republic, Rothensee, IKEA Germany, GDR, Eching, Bavaria

CNN —Ukraine’s army chief has warned that his forces are facing “one of the most powerful Russian offensives” since the start of the war as Russia claimed it captured more settlements on the eastern frontline. Russia has steadily been making gains in the eastern Donbas region, which Russia’s President Vladimir Putin aims to capture in full. Vyshneve is close to Pokrovsk, a key logistics hub in the east and a major target of the Russian offensive. Meanwhile Russian drone attacks continue, with Ukraine bracing for what could be a difficult winter with energy infrastructure already badly hit. Over the past week, Russia has dropped more than 900 bombs on Ukraine, and launched about 30 missiles and nearly 500 Shahed drones in various regions of Ukraine, he added.

Persons: CNN —, Vladimir Putin, Ukraine’s, Oleksandr Syrskyi, Vyshneve, Volodymyr Zelensky, Zelensky, ” Zelensky, Genya Savilov, Kamala Harris, Biden, Donald Trump Organizations: CNN, Reuters, Getty, North, Ukraine Locations: Russia, Donetsk, Pokrovsk, Russian, Ukraine, Moscow, China, Europe, America, Lyman, AFP, Russia’s Kursk

☆ Iran’s supreme leader vows ‘teeth-breaking response’ to Israel and US
▼ + stars: | 2024-11-02 | by ( Vasco Cotovio | Sophie Tanno | ) edition.cnn.com time to read: +3 min

CNN —Iran’s Supreme Leader Ayatollah Ali Khamenei has promised a “teeth-breaking” response to Israel and the United States after Israel targeted Iranian military sites in retaliatory strikes late last month. He was speaking during a meeting with students on Saturday, ahead of the anniversary of the 1979 seizure of the US embassy in Tehran, Iran’s state-run Press TV reported. Iran and Israel have long been enemies, a rivalry that deepened following Hamas’ attacks of October 7 last year and the subsequent Israeli invasion of Gaza. Khamenei’s remarks on Saturday signal a departure from Iran’s initial attempts to downplay the severity of the strikes carried out by Israel on October 25. He also said Iran is capable of producing nuclear weapons but remains curbed by a mandate by Supreme Leader Ayatollah Ali Khamenei against weapons of mass destruction, Press TV reported.

Persons: CNN —, Ayatollah Ali Khamenei, ”, Khamenei, Israel, Khamenei’s, Iran ”, Karine Jean, Pierre, Kamal Kharrazi, Lebanon’s Organizations: CNN, CNN — Iran’s, Zionist, Hamas, Press, Wednesday, Iran’s Strategic, Foreign Relations Locations: Israel, United States, Iran, Tehran, Iran’s, Gaza, Lebanon, Tira, Islamic Republic of Iran

☆ Treasury yields rise as investors look to key jobs data
▼ + stars: | 2024-11-01 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by over one basis point to 4.2947%. The 2-year Treasury yield was last trading at 4.1806% after rising by more than one basis point. U.S. Treasury yields were higher on Friday as investors awaited the all-important October jobs report and digested key economic data released throughout the week. Investors weighed a series of key economic reports published throughout the week, including Thursday's personal consumption expenditures price index, the Federal Reserve's favored inflation gauge. It is also some of the last key economic data before the U.S. election next week.

Persons: Dow Jones, nonfarm payrolls, payrolls Organizations: Treasury, Federal, PCE, Fed, Bureau of Labor Statistics

☆ Sophie Turner says American politics made it too hard to cope with living in the US
▼ + stars: | 2024-11-01 | by ( Erin Liam | ) www.businessinsider.com time to read: +4 min

In an interview with Harpers Bazaar, Sophie Turner opened up about her marriage to Joe Jonas and her life in the US. AdvertisementSophie Turner said she struggled with American politics when she was married to Joe Jonas and living in the US. After marrying Jonas, Turner moved to LA in 2019, and they relocated to Miami in 2021. "The gun violence, Roe v. Wade being overturned... Everything just kind of piled on," she said. AdvertisementTurner, who now lives in West London, told Harpers Bazaar she's "so happy to be back."

Persons: Sophie Turner, Joe Jonas, —, Jonas, Turner, Roe, Wade, Willa, Delphine, Turner didn't, Genie Doi, Chris Ouellet Organizations: Harpers, Service, Harpers Bazaar, Bazaar, British Vogue, Business Insider, Pew Research Center, BI Locations: British, LA, Miami, Uvalde, West London, England, California, Japan, Chicago, British Columbia

☆ Serbia: Eight killed after railway station roof collapses in Serbia
▼ + stars: | 2024-11-01 | by ( Sophie Tanno | Stephanie Halasz | ) edition.cnn.com time to read: +1 min

CNN —Eight people were killed in the Serbian town of Novi Sad on Friday when the roof of a railway station collapsed, according to the country’s interior minister. Rescuers were at the scene of the accident within minutes of an emergency call being made, according to Dacic. APSerbia’s Prime Minister, Milos Vucevic, offered his condolences to families of victims affected by the incident, while thanking first responders. According to CNN affiliate N1, the railway station’s roof was renovated in 2021. More renovation work took place months later, and the building was officially reopened on July 5 this year.

Persons: Ivica Dacic, ”, Milos Vucevic Organizations: CNN, Ministry, Serbia’s Locations: Serbian, Novi Sad

☆ A "Game of Thrones" movie is reportedly in the works. It comes after a year of box office hits and misses for Warner Bros. Discovery.
▼ + stars: | 2024-11-01 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +6 min

Multiple outlets reported, citing unnamed sources, that a "Game of Thrones" movie is in the works. Warner Bros. Martin first suggested a "Game of Thrones" movie to tie up the franchise in a 2014 interview with The Hollywood Reporter. They grossed $1.8 million at the box office, according to Box Office Mojo. Warner Bros. PicturesA "Harry Potter" TV series reboot was announced last year after the box office failure of the "Fantastic Beasts" spin-off series.

Persons: —, aren't, George R.R, Martin, David Benioff, Weiss, Arya Stark, Maisie Williams, Bran Stark, Isaac Hempstead Wright, Sansa Stark, Sophie Turner, HBO Matthias Frey, Shawn Robbins, Robbins, Max, Frey, David Zaslav, Harry Potter, Denis Villeneuve's, Matt Reeves, " Frey Organizations: HBO, Warner Bros, Service, Hollywood, Discovery, Business, Wall Street, Department of Media, Creative Industries, City , University of London, Thrones, Office, Warner Bros ., HBO Warner Bros, Variety

☆ Spain hit by deadliest floods in decades. Here’s what we know
▼ + stars: | 2024-10-31 | by ( Sophie Tanno | Laura Paddison | ) edition.cnn.com time to read: +7 min

Oscar Del Pozo/AFP/Getty ImagesAt least 40 people, six of whom were in a retirement home, died in the town of Paiporta in Valencia, Spanish state news agency EFE reported, citing its mayor. Extreme rain warnings were put in place for some areas including around Valencia, according to Spain’s Meteorological Agency, AEMET. “This suggests the system for alerting people to the dangers of floods in Valencia has failed, with fatal consequences. Extreme weather warnings continue for portions of eastern and southern Spain, according to AEMET, with more rain expected. This week’s floods are the most deadly Spain has suffered in decades.

Persons: Oscar Del Pozo, EFE, Margarita Robles, Carlos Mazon, Hannah Cloke, ” Cloke, ”, Pedro Sanchez, Sanchez, don’t, Eva Manez, Ernesto Rodríguez Camino, Vega Organizations: CNN, Vehicles, Getty, Spain’s, Spain’s Meteorological Agency, UK’s University of Reading, Valencia, Spanish, Spanish Securities, Emergencies, Spanish Meteorological Association Locations: Spain, Valencia, Spanish, Letur, AFP, Paiporta, Murcia, Malaga, Andalusia, Spain’s, Europe, Orange, Castellon, Ribadelago, Biescas, Germany, Belgium

☆ Switzerland is now flirting with deflation, causing a dilemma for its central bank
▼ + stars: | 2024-10-31 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

Urbazon | Istock | Getty ImagesSwitzerland could be at risk of slipping into deflationary territory next year, as a stronger Swiss franc beleaguers policymakers' efforts to get a handle on price growth. The central bank also revised down its forecasts, putting the average annual inflation rate for 2024 at 1.2% from 1.3%, while projecting price increases will grow by 0.6% in 2025, compared with a previous outlook of 1.1%. Foreign exchange (FX) interventions take place when a bank buys or sells its currency in the FX market to raise or lower its value against another currency. Swiss inflation has meanwhile continued to fall. In March, with inflation at 1.2%, the SNB become the first major Western central bank to cut interest rates.

Persons: Thomas Jordan, Adrian Prettejohn, Sophie Altermatt, Julius Baer, Prettejohn, Jordan Organizations: Istock, Getty, Swiss National Bank, Capital, Capital Economics, CNBC, FX Locations: Bern, Switzerland, Adrian Prettejohn Europe, Europe

☆ Germany's inflation surges to 2.4% as it narrowly skirts a technical recession
▼ + stars: | 2024-10-30 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Germany's inflation surged to 2.4% in October, back above the European Central Bank's 2% target, even as the country narrowly avoided a technical recession in the third quarter. The preliminary print, announced by German statistics office Destatis, is harmonized across the euro area for comparability. Harmonized inflation had dropped to 1.8% in September, after coming in at the European Central Bank's 2% target in August. So-called core inflation, which strips out more volatile food and energy costs, came in at 2.9% in October, the German statistics office said Wednesday, an increase from the 2.7% reading of September. In a note translated by CNBC, Deutsche Bank economist Sebastian Becker said that the renewed rise in core inflation showed that the problem of growth in price increases was not resolved, and that further patience was needed.

Persons: Sebastian Becker, Carsten Brzeski, meanwhile, Destatis Organizations: Central, German, comparability, Reuters, CNBC, Deutsche Bank, ING Locations: Bavarian, Germany

☆ Volkswagen profit plunges 42% in third quarter amid sweeping overhaul plans
▼ + stars: | 2024-10-30 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

German automaker Volkswagen on Wednesday reported a 42% drop in operating profit in the third quarter. Operating profit fell to 2.86 billion euros ($3.1 billion), while third quarter sales revenues slipped 0.5% year on year to around 78.5 billion euros. Vehicle sales fell 8.3% in the third quarter of 2024 compared to the same time period a year earlier, Volkswagen said. Net liquidity across the Volkswagen Group stood at negative 160.6 billion euros at the end of September 2024, it said. Operating profit between January and September of this year was 21% lower on an annual basis.

Persons: Arno Antlitz Organizations: Volkswagen, Volkswagen Group Locations: Germany

☆ 10-year Treasury yield rises above 4.3% as investors look to key data
▼ + stars: | 2024-10-29 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by over 2 basis points at 4.304%. The 2-year Treasury yield was last up by less than 1 basis point at 4.146%. U.S. Treasury yields were higher on Tuesday, with the 10-year Treasury yield continuing to trade at multi-month highs as investors looked to upcoming economic data. On Tuesday investors will be watching out for fresh consumer confidence insights and home price data as well as the latest JOLTS job openings figures. Those are the first of a series of labor market related data releases slated for the week.

Organizations: Treasury, U.S, Federal, Traders, Fed

☆ I quit my 9-to-5 to lead a slow, minimalist life as a YouTuber. I'm happier, calmer, and more fulfilled.
▼ + stars: | 2024-10-28 | by ( Kim Schewitz | ) www.businessinsider.com time to read: +6 min

I tried to make it work, but I never really felt fulfilled, and I couldn't pinpoint why. At first, that was what slow living was for me—rearranging my days and my life to physically slow down. I started doing YouTube more and my 9-to-5 less until I was able to become a full-time YouTuber. Even though we are now living in the city, I plan to always live a slow living lifestyle. Over time, slow living has transitioned into a whole mindset for me.

Persons: Sophie Daquis, Daquis, —, I'd, I've Organizations: Service, Nokia, Habitat, Humanity, YouTube Locations: San Diego, Maui, Hawaii, Lisbon, Portugal

☆ Volkswagen targets layoffs and 10% pay cuts amid plans for German plant closures, union says
▼ + stars: | 2024-10-28 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Volkswagen is considering widespread pay cuts and layoffs as well as the closure or size reduction of its plants in Germany, the company's works council said Monday. The Volkswagen management recently presented plans to the council that include a 10% reduction in pay across the board, as well as wage freezes in 2025 and 2026, according to Daniela Cavallo, head of the works council. All factored in, the body estimates workers will suffer pay cuts of around 18% over the period. Volkswagen also intends to shut three factories and downsize all other plants in Germany, Cavallo said. She warned that sweeping job cuts were part of carmaker's plans, noting that tens of thousands of jobs were at risk.

Persons: Daniela Cavallo, Cavallo Organizations: Volkswagen, VW Locations: Germany

European markets were higher as trading began on Monday as investors reviewed the geopolitical situation in the Middle East. The pan-European Stoxx 600 was up 0.13% at 9:31 a.m. London time after paring back some of its earlier gains, with most regional bourses and sectors starting the week in positive territory. Media and construction and materials stocks added over 1% each, while oil and gas stocks fell around 2.3%.

Organizations: Media Locations: London

We've put together everything you need to know about where to watch Love Island Australia, including free streaming options. Arriving on the heels of this summer's new seasons of Love Island USA and Love Island UK, Love Island Australia returns for what the show is billing as the spiciest season ever. Where to watch Love Island Australia in AustraliaLove Island Australia streams on 9Now in Australia. Where to watch Love Island Australia in New ZealandLove Island Australia is available through TVNZ in New Zealand. Where to watch Love Island Australia in the USLove Island Australia streams on Hulu in the US.

Persons: We've, Sophie Monk, ExpressVPN Organizations: Business, Love, Australia, New Zealand Love, TVNZ, Hulu, Love Island Locations: Australia, Australia Love, 9Now, New Zealand, New Zealanders, Love Island Australia

☆ Previously unseen photos of Prince William with his mother Diana visiting homeless charity released
▼ + stars: | 2024-10-27 | by ( Sophie Tanno | ) edition.cnn.com time to read: +3 min

CNN —Prince William has opened up about how a powerful childhood experience with his brother and late mother helped shape his work in combatting homelessness. In the Prince of Wales’ forthcoming documentary, “Prince William: We Can End Homelessness,” the 42-year-old heir to the British throne recalls visiting The Passage, a British charity for the homeless, alongside his late mother, Diana. “My mother took me to The Passage; she took Harry and I both there,” William says in a newly released clip from the two-part documentary. The series, directed by BAFTA winner Leo Burley, features stories of those currently facing homelessness or who have experienced it. Speaking at an awards ceremony for the Centrepoint homelessness charity earlier this month, the prince said homelessness is”a complex societal issue” but that he “passionately” believes it can be eradicated.

Persons: Prince William, Prince, Wales, “ Prince William, Diana, William, “, Harry, ” William, “ I’d, ” Prince William, ”, everyone’s, Leo Burley, Diana , Princess, I’m, Princess, Homewards Organizations: CNN, Royal Foundation, BAFTA, Reuters, Royal Foundation of, ITV, CNN’s Royal Locations: British

☆ Criminals are looting millions from ATMs in Europe. Here’s why Germany is a prime target
▼ + stars: | 2024-10-27 | by ( Sophie Tanno | ) edition.cnn.com time to read: +8 min

Rather than staging dramatic and risky bank robberies, criminal groups in Europe have been targeting ATMs as an easier and more low-key target. An explosive device used to blow up ATMs shown at a press event in Stuttgart, Germany on November 21, 2023. The majority of Germany’s 83.3 million citizens have to travel no further than one kilometer to reach their nearest ATM, according to the central bank, Bundesbank. Bodo Marks/picture alliance/Getty Images/FileA 2023 BKA report notes that ATM robberies in Germany have been rising since 2005, although they dropped slightly from 2022 to 2023. In July, the German government announced that ATM robberies would receive harsher punishment.

Persons: Europol, Bernd Weißbrod, ” Europol, Baden Württemberg, ” Bundesbank’s Johannes Beermann, –, Bodo Marks, ’, Nancy Faeser, ” Organizations: CNN, Federal Criminal Police, Germany –, Getty, German Banking Industry Committee, “ Locations: Kronberg, BKA, Europe, Germany, France, Netherlands, Stuttgart, Wiernsheim, German, Baden, Bundesbank, Sparkasse, Schenefeld, –, “ Germany

A general view of Tehran after several explosions were heard, in Tehran, Iran, on October 26, 2024. The Israeli military said the strikes, which have now concluded, were in retaliation for Iran’s ballistic missile barrages on Israel earlier this month and in April. The Israeli military said it struck manufacturing sites used to produce missiles that Iran has fired at Israel over the past year. “The Israel Defense Forces completed precise and targeted strikes against military targets in a number of areas in Iran. “This should be the end of this direct exchange of fire between Israel and Iran,” a senior US administration official said after the strikes.

Persons: Majid Asgaripour, ”, ” IRNA Organizations: Wana News Agency, Reuters, Israel Defense Forces, Islamic Republic News Agency Locations: Tehran, Iran, Israel, United States, Yemen, Gaza, Ilam, Khuzestan

☆ German finance minister warns of retaliation if U.S. kicks off trade war
▼ + stars: | 2024-10-25 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

German Finance Minister Christian Lindner on Friday warned that if the U.S. kicked off a trade war with the European Union, there could be retaliation. Trade is one of the main pillars of the German economy, suggesting heightened tensions, uncertainty and tariffs would hit the country harder than others. Trade tensions between the U.S. and China, and the EU and China, have been rising throughout the year. Both the U.S. and EU have implemented higher tariffs and on some goods imported from China, citing unfair trade practices. China in turn has also announced higher temporary tariffs on some imports from the EU.

Persons: Christian Lindner, Janet Yellen, Lindner, CNBC's Karen Tso, Donald Trump, it's, Chancellor Olaf Scholz's, Trump Organizations: IMF, World Bank, German, European Union, International Monetary, Washington , D.C, Free Democratic Party, Chancellor Olaf Scholz's Social Democratic Party, U.S, EU, Reuters Locations: Washington , DC, U.S, Washington ,, China, EU, Germany

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