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☆ Dutch Prime Minister Rutte to update king on government collapse
▼ + stars: | 2023-07-08 | by ( ) www.reuters.com time to read: +3 min

[1/4] Dutch Prime Minister Rutte arrives at the Huis ten Bosch Palace to meet with Dutch King Willem-Alexander in The Hague, Netherlands July 8, 2023. REUTERS/Piroschka van de WouwTHE HAGUE, July 8 (Reuters) - Dutch Prime Minister Mark Rutte is due to meet King Willem-Alexander on Saturday, to discuss a caretaker administration the day after his centre-right government collapsed following a row on migration policies. Rutte, 56, in power since 2010, is already the Netherlands' longest serving prime minister. The crisis in Dutch politics came after Rutte's conservative VVD party pushed to limit the flow of asylum seekers to the Netherlands. Farmers' protest party BBB became the biggest party in the March provincial elections which determine the make-up of the Dutch senate.

Persons: Rutte, Dutch King Willem, Alexander, Wouw, Mark Rutte, King Willem, it's, Stephanie van den Berg, Ros Russell Organizations: Dutch, Bosch, REUTERS, Christian Union, Vox, BBB, Thomson Locations: The Hague, Netherlands, HAGUE, Dutch, Rutte, Spain, Farmers

☆ Audi names Volkswagen strategy chief Doellner as new CEO
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, June 29 (Reuters) - Volkswagen's (VOWG_p.DE) Audi named the German group's strategy chief as its new CEO on Thursday, as the luxury carmaker seeks to catch up with rivals in the dash towards electrification, including in China, the world's top car market. Gernot Doellner, who replaces Markus Duesmann, will become CEO with effect from September, Audi said, after the luxury automaker's supervisory board passed a resolution on Thursday. Doellner is a Volkswagen Group veteran who joined the company as a doctoral student in 1993 and rose through the ranks to become head of product development at Porsche. He headed up the Panamera series from 2011 to 2018 and became head of product strategy at Volkswagen AG in 2021. "Audi is a fantastic company with a rich history," Doellner said, adding: "I look forward to shaping the company's future together with the entire team at Audi."

Persons: Gernot Doellner, Markus Duesmann, Doellner, Oliver Blume's, Bentley, Peter Bosch, Christina Amann, Jan Schwartz, Ilona Wissenbach, Christoph Steitz, Victoria Waldersee, Tom Sims, Emma Rumney, Hans Seidenstuecker Organizations: Audi, Volkswagen Group, Porsche, Volkswagen AG, Volkswagen, BMW, Mercedes, Benz, Thomson Locations: FRANKFURT, China

☆ These 'A.I. humans' are letting gamers modify their voices in real time
▼ + stars: | 2023-06-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Voicemod has created 20 "AI humans," digital personas that allow gamers to speak in voices other than their own. An artificial intelligence firm in Spain has unveiled a number of "AI humans" that allow people to modify their voices in video games — in real time. The voices are trained on voices from professional human voice actors. While many of today's AI algorithms allow people to submit text and receive something AI generated back, the feat of ensuring this is done in real time is much harder. The company is close to finishing a "watermarking" solution that can identify whether voices have been generated using modification systems.

Persons: Voicemod, Jaime Bosch, Bosch Organizations: CNBC, Apple, Bitkraft Ventures, Bosch, Cannes Lions Locations: Spain, Valencia, Barcelona, Europe

☆ U.S. lawmakers to urge automakers to cut their reliance on China
▼ + stars: | 2023-06-19 | by ( ) www.cnbc.com time to read: +2 min

A bipartisan group of U.S. lawmakers will urge the CEOs of Ford Motor and General Motors to shrink reliance on China auto parts, particularly electric vehicle batteries, sources told Reuters on Monday. The focus on Chinese auto parts comes soon after U.S. Secretary of State Antony Blinken made a rare visit to Beijing and hours of meetings failed to produce any major breakthroughs. The $430 billion Inflation Reduction Act (IRA) signed by President Joe Biden in August aims to wean U.S. EV production from Chinese supply chains by imposing new conditions on EV tax credits. Ford's deal announced in February to use technology from Chinese battery company CATL as part of the automaker's plan to spend $3.5 billion to build a battery plant in Michigan has drawn criticism from some lawmakers. Republican Senator Marco Rubio has asked the Biden administration to block EV tax credits for batteries produced using Chinese technology.

Persons: Bolt, Tesla, Jim Farley, Mary Barra, Mike Gallagher, John Moolenaar, Raja Krishnamoorthi, Haley Stevens, Antony Blinken, Ford, Gallagher, Joe Biden, Ford's, Marco Rubio, Biden Organizations: Ford, Ford Motor, General Motors, Reuters, China, Bosch, Energy, U.S, Republican, Bloomberg Locations: Orion Township , Michigan, EVs, U.S, China, Detroit, Continental, Beijing, Shanghai, American, Michigan

☆ Russia takes over another Western asset with Bosch plant deal
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

NAMI, Russia's Central Automobile and Engine Research and Development Institute, has been snapping up assets from global carmakers that left Russia over its invasion of Ukraine. NAMI has already taken over plants that were previously run by carmakers Renault (RENA.PA), Nissan (7201.T) and Toyota (7203.T). The price of the transaction was not disclosed, but NAMI has picked up other assets for nominal fees. "Previously the company was engaged in the production of steering systems, anti-lock braking systems and electronic stability programme systems," NAMI said in a statement. Reporting by Alexander Marrow and Gleb Stolyarov Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: NAMI, Robert Bosch, carmakers, Alexander Marrow, Gleb Stolyarov, Mark Potter Organizations: Central Automobile, Research, Development Institute, carmakers Renault, Nissan, Toyota, Thomson Locations: Russia, Ukraine, Samara

☆ German firms to receive 4 bln euros through EU microelectronics push
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +1 min

BERLIN, June 8 (Reuters) - Over 30 microelectronics projects in Germany will receive about 4 billion euros ($4.29 billion) in funding after the European Commission approved a support scheme for such technologies, the German Economy Ministry said on Thursday. "The 31 microelectronics projects from 11 federal states strengthen Germany as a microelectronics location across the board and are an important industrial policy milestone," said Economy Minister Robert Habeck. A document provided by the German economy ministry showed Infineon (IFXGn.DE), Elmos Semiconductor (ELGG.DE) and Robert Bosch [RIC:RIC:ROBG.UL] among the companies to receive funds. The economy ministry did not immediately respond to an emailed request for comment on the report. ($1 = 0.9316 euros)Reporting by Miranda Murray Writing by Rachel More Editing by Madeline ChambersOur Standards: The Thomson Reuters Trust Principles.

Persons: Robert Habeck, Robert Bosch, Habeck, Miranda Murray, Rachel More, Madeline Chambers Organizations: European Commission, German Economy Ministry, European, Infineon, Elmos Semiconductor, Thomson Locations: BERLIN, Germany, German, Hamburg, Netherlands

HANOI, May 30 (Reuters) - Samsung and other foreign companies are pushing Vietnam to introduce a multi-million-dollar reform that would compensate them for higher levies they face from next year under a global overhaul of tax rules, a source involved in the talks said. The discussions precede the introduction from January of a minimum tax rate of 15% for large multinationals under a landmark global reform led by the Organisation for Economic Cooperation and Development (OECD). The global rule requires companies paying less in a low-tax jurisdiction to face a top-up levy in their home country. Samsung's tax rate varies by district, and ranged between 5.1% and 6.2% in 2019 in the two northern provinces where it produces smartphones, according to government data cited by local media. Smaller companies that are not within the scope of the new global rules may also receive handouts, the source said.

☆ China's BYD beefs up autonomous driving credentials with new unit, hiring spree
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +3 min

Current BYD recruiting advertisements for engineers specialising in autonomous driving that target top Chinese universities such as Zhejiang University, indicate that the hiring is ongoing. BYD set up an intelligent driving research division in Shanghai last year, according to three sources with direct knowledge of the matter. The automaker, which is 9.87% owned by Warren Buffett's Berkshire Hathaway Inc (BRKa.N) and had some 660,000 employees as of April, declined to elaborate on its autonomous driving strategy. BYD has also this year teamed up with autonomous driving chip technology firms Nvidia (NVDA.O) and Horizon Robotics (RBOT.TO), saying it wanted to develop more intelligent vehicles. Both are high-volume models and further advances in BYD autonomous driving features would popularise the technology within China.

☆ US set to issue $362 mln loan for vehicle wiring production
▼ + stars: | 2023-05-12 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, May 12 (Reuters) - The U.S. Energy Department on Friday said it intends to loan California startup CelLink $362 million to help finance construction of a U.S. manufacturing facility to improve key vehicle wiring components. The conditional commitment from the government's Advanced Technology Vehicles Manufacturing loan program is for the development of lighter, more efficient flexible circuit wiring harnesses for automotive and other industries. Once fully operational, the Georgetown, Texas facility is expected to produce flex harnesses to support some 2.7 million electric vehicles per year, the department said. CelLink, which already has products installed in more than a million vehicles on the road, currently operates a manufacturing facility in San Carlos. The new Texas facility will eventually hold up to 25 manufacturing lines that will be brought online in stages over the next several years depending on demand.

☆ Bentley production chief to lead Volkswagen's software overhaul - sources
▼ + stars: | 2023-05-08 | by ( Jan Schwartz | ) www.reuters.com time to read: +2 min

May 8 (Reuters) - Volkswagen (VOWG_p.DE) will announce later on Monday the removal of leadership at its troubled software arm Cariad and the appointment of Bentley production chief Peter Bosch to take the unit's helm, two sources close to the company said. Volkswagen is set to dismiss all but one of the unit's current executive board members, with only human resources head Rainer Zugehoer to remain. Bosch will also take over financial management at Cariad, the sources said, confirming an earlier report by Handelsblatt. Sources said at the time that Diess' failure to put Cariad, a business he set up, on a solid footing contributed to his ousting. Reporting by Jan Schwartz, Writing by Victoria Waldersee, Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen, Bosch give up joint venture plans for battery cells
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

[1/2] A Volkswagen logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' DelgadoMay 4 (Reuters) - Volkswagen (VOWG_p.DE) and Bosch (ROBG.UL) have cancelled their plans to create a joint venture to equip battery cell factories, Bosch said on Thursday. "We are not setting up a joint venture," Bosch Chief Executive Officer Stefan Hartung said, adding that the partnership with the German carmaker to digitise its battery factories would continue. The joint venture, announced at the beginning of 2022, was designed to deliver battery production systems, as well as assisting battery cell manufacturers in scaling up and maintaining their production sites. "Volkswagen and PowerCo are sticking to their plan to get involved in equipping battery cell factories in the future.

☆ Berenberg names stocks to play A.I. transformation in the auto industry - including one expected to double
▼ + stars: | 2023-05-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

He said the auto industry is in the midst of a transformation that "parallels the evolution of consumer electronics from 1985 to 2010," noting both companies are poised to benefit from innovation propelled by AI and the growth of driving automation systems. Despite a crowded market, Maymon expects both names to "cut through the noise." When combined with Nvidia and Qualcomm, he forecasts all four names will account for at least 90% of the more than $30 billion Tier 2 silicon and software market for driving automation by 2030. Of the group, he views Mobileye as the "best pure-play" silicon and AI algorithm supplier and a driving automation systems "pioneer." MBLY YTD mountain Mobileye shares in 2023 Mobileye shares fell last month after the company slashed its guidance and said it now expects a wider-than-expected operating loss.

☆ Bosch looks to growth in cars, heating systems
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: 1 min

Companies Robert Bosch GmbH FollowFRANKFURT, May 4 (Reuters) - German technology group Robert Bosch expects 6% to 9% revenue growth this year from 88.2 billion euros ($97.49 billion) in 2022 and an EBIT margin of 5%, up from 4.3% last year, it said on Thursday thanks to growth in both its cars and heating systems businesses. The transformation of energy systems to protect the climate creates business potential, Bosch Chief Executive Stefan Hartung said, making clear that opportunities lay in both the electrification of cars and heating systems. "Growth is not only on the road, even though we are very successful there," he said. ($1 = 0.9047 euros)Reporting by Ilona Wissenbach Writing by Madeline Chambers Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

☆ TSMC, partners plan to invest up to $11 billion in German fabrication plant, Bloomberg reports
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

May 3 (Reuters) - Taiwan Semiconductor Manufacturing Co (2330.TW) is in talks with partners to invest as much as 10 billion euros ($11.04 billion) to build a chip fabrication plant in Germany, Bloomberg News reported on Wednesday, citing people familiar with the matter. The venture between TSMC, NXP Semiconductors NV (NXPI.O), Robert Bosch GmbH and Infineon Technologies AG (IFXGn.DE) will have a budget of at least 7 billion euros, including state subsidies, but is likely to end up closer to 10 billion euros, according to the report. TSMC is still evaluating the possibility of building a fab in Europe, the company told in an emailed statement to Reuters, but declined to comment further. Infineon and Robert Bosch declined to comment, while NXP did not immediately respond to a Reuters request for a comment. ($1 = 0.9061 euros)Reporting by Nilutpal Timsina in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Importantly, smaller firms are also starting to raise pay even as many of them face a margin crunch. Big firms offered pay hikes of 3.8% this year in annual wage talks with unions that ended in March, the largest increase in three decades. Attention has now shifted to whether small firms, which employ seven out of 10 workers in Japan, would follow suit. The BOJ's tankan business sentiment survey showed last month that small firms' current profits fell 2.7% in the last fiscal year to March, while big firms' earnings rose 11.5%. Less than half of small firms said they were able to pass on rising costs to customers as of last September, government data showed.

Bosch said it plans to invest $1.5 billion to retool TSI's chip production facilities in Roseville, California to start producing silicon carbide chips by 2026. Bosch said the TSI facility would become the "third pillar" of in-house semiconductor production, along with two sites in Germany. The silicon carbide chips Bosch said it will manufacture at the TSI Roseville site are increasingly in demand by electric vehicle manufacturers. U.S-based Wolfspeed Inc (WOLF.N) is building new plants to make silicon carbide chips in New York State and in Germany. Bosch plans to acquire the buildings, machines and infrastructure of TSI as well as well as its commercial semiconductor business.

☆ To my son, born in the climate crisis: I see signs of hope
▼ + stars: | 2023-04-23 | by ( Bill Weir | ) edition.cnn.com time to read: +11 min

The first looked at the twin crises of Covid and climate change as River was born; the second introduced him to Earth Day and what he could do. Watch Weir investigate “How to Unscrew a Planet,” on CNN’s “The Whole Story with Anderson Cooper,” Sunday at 8 p.m. Energy from clean sources, like this windmill in Texas, is heating and cooling more homes in America than ever before. “We call it climate intervention,” Kelly Wanser told me as we sat under bluebird skies and the Washington Monument. So far, it feels like your future will be marked in new stories to frame our wants and needs, and new tools to build Life As We Know It Could Be.

☆ Russian electronics retailer M.Video-Eldorado's sales drop in 2022
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine. The West moved to curb technology exports to Russia after Moscow sent tens of thousands of troops into Ukraine last year, while several leading manufacturers pulled out of the Russian market. The company cited high volatility in sales of household appliances and electronics. The overall size of the electronics and appliances market in Russia dipped from 2.5 trillion roubles in 2021 to 2.3 trillion in 2022, M.Video estimated in the investor presentation. With government support, Russia's retailers have also moved to boost their sales of electronics from countries that have not imposed sanctions on Russia, such as China, Turkey and India.

☆ Burrowing badgers threaten to undermine Dutch rail system
▼ + stars: | 2023-03-22 | by ( Piroschka Van De Wouw | ) www.reuters.com time to read: +2 min

REUTERS/Rebecca Naden/File PhotoAMSTERDAM, March 22 (Reuters) - Badgers have dug out a home underneath a major rail line in the Netherlands, leaving tens of thousands of passengers facing delays. But the company that maintains the country's rail network says the badgers are protected by law and must be removed before repairs can begin. The Dutch government on Wednesday said that 50,000 people per day use the affected train line. Badgers, not an endangered species, nearly died out in the Netherlands in the 1980s but have since made a strong recovery. "I have asked ProRail to keep a close watch on the activities of badgers," Heijnen said.

The Swiss cabinet held an emergency meeting about the central bank's move on Thursday but gave no public statement after, with most politicians, including Finance Minister Karin Keller-Sutter, tight-lipped. Greens lawmaker Gerhard Andrey said managers should take responsibility and Switzerland should look at its regulations, with the Credit Suisse debacle putting the country "in a very difficult situation". That Credit Suisse has problems has been known for a long time," said Martin Staub speaking in central Zurich. The financial sector makes up about 9% of Swiss gross domestic product, according to Finance Swiss, and employs 5.5% of the workforce. "The Credit Suisse crisis is negative for Switzerland, but not enough to damage the reputation of Switzerland on its own.

The EU law would require all new cars sold from 2035 to have zero CO2 emissions, making it effectively impossible to sell new fossil fuel-powered cars. E-fuels, like e-kerosene, e-methane, or e-methanol, are made by synthesizing captured CO2 emissions and hydrogen produced using renewable or CO2-free electricity. Germany and Italy want clearer assurances from the EU that sales of new ICE cars can continue beyond 2035, if they run on CO2-neutral fuels. Most major carmakers are betting on battery-electric vehicles - a technology that is already widely available - as the main route to cut CO2 emissions from passenger cars. Supporters say e-fuels offer a route to cut the CO2 emissions of our existing passenger car fleet, without replacing every vehicle with an electric one.

☆ This collection of minimalist homes with a California flair are built in a factory, trucked to their final location, and start at $1,680 per month — take a look inside
▼ + stars: | 2023-02-25 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: 1 min

Each Abodu has laminate flooring, with three different color options for buyers to choose from. The kitchen of a one-bedroom Abodu ADU in San Jose Courtesy of AboduThey also come with Bosch appliances including a dishwasher, refrigerator, oven, hood, and electric stove. Everything in this unit runs on electric. In the kitchen of this one-bedroom Abodu ADU in San Jose, the countertops are quartz and the cabinetry has a matte-black finish. The hanging lamps are an add-on called the hanging concrete pendant.

☆ Goldman names 2 global stocks to play the 'clean hydrogen revolution,' giving one 50% upside
▼ + stars: | 2023-02-20 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The boom in clean hydrogen is picking up pace, according to investment bank Goldman Sachs. "The clean hydrogen revolution continues to accelerate," analysts at the bank said in a Feb. 13 note. The cleanest type — green hydrogen — uses energy from renewable sources, while so-called blue hydrogen is produced from natural gas. Industrie De Nora Goldman said De Nora is a key beneficiary of the IRA incentives given its high exposure to U.S. sales. Goldman gave the stock a price target of 24 euros ($25), or potential upside of nearly 30%.

☆ The green transition is bringing lots of different opportunities, Bosch CEO says
▼ + stars: | 2023-02-06 | 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 green transition is bringing lots of different opportunities, Bosch CEO saysStefan Hartung, CEO of Bosch, joins CNBC to discuss the earnings from the home appliances giant.

☆ Bosch says Chinese recovery is key to 2023
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

BERLIN/STUTTGART, Feb 3 (Reuters) - German automotive supplier Bosch considers recovery in China as key to success this year, it said on Friday, steering clear of concrete forecasts despite reporting a more than 15% jump in full-year operating profit. It was hugely dampened last year," Chief Executive Stefan Hartung said of the Chinese market, adding that he expects the European and U.S. economies to weaken because of rising interest rates. Demand in 2022 remained weaker than before the pandemic, but Bosch sales benefited from strong demand for climate-friendly technology from carmakers and those seeking alternative fuel sources to Russian gas, the private company said. "Despite semiconductor shortages and a weak economy, all business sectors were able to increase their sales," said finance chief Markus Forschner. Pushed by Germany's attempt to wean itself off Russian gas, demand for energy efficient heat pumps rose last year, with sales jumping 50%, Bosch said, adding that it will expand its manufacturing capacity for heat pumps in Europe.

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