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

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

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

☆ Fact Check-Handelsblatt cover on Ukraine’s ‘bloody crash test’ is fake
▼ + stars: | 2023-07-05 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A fabricated cover of what purports to be a weekend issue of German magazine Handelsblatt reporting on Ukraine’s counteroffensive against Russia is being shared online. "This is not a counteroffensive // it's a bloody crash test," says the headline on the fake cover, posted to Facebook (here ). It also purports to be magazine issue 119 and is dated June 23, 24, 25. The cover of weekend issue 119, as seen in the archive, is dedicated to a piece about climate, and it features different visuals (here ). There is no record in the Handelsblatt archive of a cover calling Ukraine’s counteroffensive a “bloody crash test”.

Persons: Handelsblatt, Read Organizations: Facebook, Twitter, Reuters Locations: Russia

The pan-European STOXX 600 index (.STOXX) closed 0.7% higher, tracking overnight gains in Wall Street. Shares of Sage Group Plc (SGE.L) gained 5.1% to a 23-year high after J.P. Morgan upgraded its rating on the stock to "overweight" from "neutral". Shares of chip equipment maker ASML Holding (ASML.AS) rose 2.3% while Nordic Semiconductor (NOD.OL) jumped 6.4%, making technology (.SX8P) among the top European sectoral gainers. Semiconductor shares were in focus after a report stated the U.S. was considering new restrictions on exports of artificial intelligence chips to China. Also boosting the STOXX 600, Roche Holding (ROG.S) gained 1.5% after the U.S. health regulator declined to approve Regeneron's (REGN.O) Eylea drug.

Persons: Christine Lagarde, Jerome Powell, what's, Danni Hewson, AJ Bell, Morgan, Hewson, Roche, Morgan Stanley, Christian Klein, Matteo Allievi, Subhranshu Sahu, Sherry Jacob, Phillips, Alex Richardson Organizations: Sage Group, UBS, CS, . Federal, ASML, Nordic Semiconductor, Semiconductor, Carrefour, Credit Suisse, SAP, Thomson Locations: Wall, U.S, China, Swiss, Gdansk, Amruta, Bangalore

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

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

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

The facility in Poland will employ 2,000 workers and create several thousand additional jobs during the construction phase and hiring by suppliers, the company said in a statement. "Poland was just a little bit hungrier to win this site," Intel CEO Pat Gelsinger said in a news conference. Handelsblatt newspaper reported on Thursday that the German government and Intel were close to an agreement for 9.9 billion euros ($10.83 billion) in subsidies, up from a previously agreed 6.8 billion. The level of any subsidy offered to Intel by Poland was not made public during Friday's announcement. Mateusz Morawiecki, prime minister of Poland, called Intel's factory "the largest greenfield investment in the history of Poland".

Persons: chipmaker, Pat Gelsinger, Gelsinger, Olaf Scholz, Mateusz Morawiecki, Karol Badohal, Supantha Mukherjee, Jason Neely, Conor Humphries Organizations: Intel, Labour, AMD, Nvidia, Samsung, Thomson Locations: Poland, WROCLAW, STOCKHOLM, Wrocław, Europe, U.S, Germany, Ireland, France, Berlin, Wroclaw, Stockholm

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

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

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

☆ Intel near deal on 9.9 bln euro German government subsidy, Handelsblatt says
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

June 15 (Reuters) - Intel (INTC.O) and the German government are close to an agreement for the chipmaker to receive 9.9 billion euros ($10.83 billion) in subsidies, up from a previously agreed 6.8 billion, Handelsblatt reported on Thursday, citing government sources. Final negotiations will take place this weekend, the newspaper reported, with Intel Chief Executive Pat Geisinger and government representatives to sign an agreement in Berlin on Monday. Intel and the economy ministry were not immediately available for comment outside working hours. The additional funds are to come from a budget under the responsibility of the economy minister, who campaigned heavily for the extra subsidies in the face of resistance from Finance Minister Christian Lindner, according to Handelsblatt. Intel, which announced last year it had picked the central German city of Magdeburg for a new chip-making complex, had raised its demand for subsidies to around 10 billion euros citing higher energy and construction costs.

Persons: Handelsblatt, Pat Geisinger, Christian Lindner, Victoria Waldersee, Barbara Lewis Organizations: Intel, Finance, Thomson Locations: Berlin, German, Magdeburg

☆ Ukraine to get more Leopard-2 tanks from Western partners
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: 1 min

Berlin, June 15 (Reuters) - Ukraine will get a further 14 Leopard-2 battle tanks worth a three-digit million euro sum from Western partners, financed by Denmark and the Netherlands, Handelsblatt business daily reported on Thursday, citing NATO sources. The vehicles will be supplied and refurbished by the Rheinmetall group, the paper reported. Contracts for the new delivery have already been signed and the German government was involved as it has to agree to the export of vehicles, it added. Delivery of the battle tanks is to take place by the end of January, reported Handelsblatt. Writing by Anastasiia Kozlova Editing by Madeline ChambersOur Standards: The Thomson Reuters Trust Principles.

Persons: Anastasiia, Madeline Chambers Organizations: NATO, Rheinmetall, Thomson Locations: Berlin, Ukraine, Denmark, Netherlands

☆ Volkswagen supervisory board to discuss savings programme on Tuesday
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +1 min

BERLIN, June 12 (Reuters) - Volkswagen's (VOWG_p.DE) supervisory board will meet on Tuesday to discuss a planned savings programme ahead of its capital markets day on June 21, two sources close to the company said on Monday. The board will discuss cost-cutting measures amounting to at least 3 billion euros ($3.22 billion) across the Volkswagen, Seat, Skoda and Cupra brands, said one source. Germany daily Handelsblatt, which first reported on the savings programme, reported that Chief Executive Oliver Blume wants to curb duplicate development work and better utilise German plants, particularly at Audi and Volkswagen. Volkswagen brand chief Thomas Schaefer said in an internal memo in May that the brand was targeting a 6.5% return on sales, compared to 3% achieved in the first quarter of this year. The Volkswagen brand must act," he wrote at the time.

Persons: Oliver Blume, Arno Antlitz, Thomas Schaefer, Jan Schwartz, Miranda Murray, Victoria Waldersee, Susan Fenton Organizations: Volkswagen, Skoda, Audi, Group, Reuters, Thomson Locations: BERLIN, Germany

☆ 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

☆ Tesla instructed employees to only communicate verbally about complaints so there was no written record, leaked documents show
▼ + stars: | 2023-05-27 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +4 min

Handelsblatt published a series of stories detailing unreported customer complaints and possible data mishandling. One of the leaked documents contained a Tesla policy to only discuss customer complaints verbally, not in writing. Thousands of documents leaked to a German newspaper indicate Tesla enforced a company policy that discouraged creating a written record of customer complaints involving acceleration, braking, and crashes. "Do not copy and paste the report below into an email, text message, or leave it in a voicemail to the customer," Tesla instructed employees, according to files leaked to Handelsblatt. Handelsblatt reported conversations with dozens of those affected by the complaints, including some who showed reporters video of the incidents or their communications with Tesla.

☆ Dutch watchdog looking into alleged Tesla data breach
▼ + stars: | 2023-05-26 | by ( ) edition.cnn.com time to read: +3 min

Reuters —The data protection watchdog for the Netherlands said on Friday it was aware of possible Tesla data protection breaches, but it was too early for further comment. Germany’s Handelsblatt reported on Thursday that Elon Musk’s Tesla had allegedly failed to adequately protect data from customers, employees and business partners, citing 100 gigabytes of confidential data leaked by a whistleblower. Handelsblatt said Tesla notified the Dutch authorities about the breach, but the AP spokesperson said they were not aware if the company had made any representations to the agency. Tesla was not immediately available for comment on Friday on the Handelsblatt report, which said customer data could be found “in abundance” in a data set labelled “Tesla Files”. The data protection office in Brandenburg, which is home to Tesla’s European gigafactory, described the data leak as “massive”.

☆ Volkswagen plans core brand revamp to boost returns -internal memo
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +2 min

Companies Volkswagen AG FollowBERLIN, May 17 (Reuters) - German carmaker Volkswagen (VOWG_p.DE) plans to overhaul its core brand to increase efficiency and returns, according to an internal memo from VW brand chief Thomas Schaefer seen by Reuters on Wednesday. "We can see that our brand – despite all its strengths – is not yet on a sufficiently solid economic footing," Schaefer wrote in the memo. The Volkswagen brand must act," he wrote. Handelsblatt business daily first reported the plans, saying they involved cost savings and were designed to increase annual results by at least 3 billion euros. In the memo seen by Reuters, Schaefer wrote that details of the revamp would be worked out in coming weeks and months.

☆ Rheinmetall and Ukraine's Ukroboronprom form JV to build, repair tanks
▼ + stars: | 2023-05-13 | by ( ) www.reuters.com time to read: +1 min

May 13 (Reuters) - Rheinmetall (RHMG.DE) has founded a joint venture with Ukrainian state-owned conglomerate Ukroboronprom to build and repair tanks in Ukraine, the company said on Saturday. Closing of the agreement to set up the joint venture is scheduled for late June with operations to begin from mid-July. The German company expects to sign contracts for two more joint ventures in the coming days for ammunition and air defence, according to Handelsblatt. Rheinmetall has ridden a rise in defence spending since Russia's invasion of Ukraine last year, with Germany also supplying aid and weapons to Kyiv. Rheinmetall makes ammunition and other military equipment as well as jointly producing the Leopard tanks that Germany is sending to Ukraine with Krauss-Maffei Wegmann.

☆ Liechtenstein to allow payment for certain state services in Bitcoin - Handelsblatt
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

May 8 (Reuters) - Liechtenstein plans to allow Bitcoin payments for certain state services, Prime Minister Daniel Risch told the German business daily Handelsblatt in an interview. "A payment option with Bitcoin is coming," Risch said in the interview on Sunday, without giving a specific timeframe. Risch, who is also Liechtenstein's finance minister, said the country plans to accept deposits in Bitcoin and immediately exchange them for the Swiss franc, the national currency. The prime minister said there was no plan for any big risks with state money but added he was open to investing state reserves in Bitcoin in the future. The state's reserves, which are primarily invested in the capital market, currently amount to 2.23 billion Swiss francs, ($2.51 billion), Handelsblatt reported, citing the finance ministry.

☆ 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.

☆ Canada offering more than C$13 bln for VW battery plant - govt source
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

Companies Volkswagen AG FollowOTTAWA, April 20 (Reuters) - Canada has agreed to provide up to C$13 billion ($9.7 billion) in subsidies and a C$700 million grant to lure Volkswagen AG (VOWG_p.DE) into building its North American battery plant in the country, a government source said on Thursday. The carmaker declined to comment on the subsidies, which the source said would be disbursed over a decade. The plant will cost about C$7 billion to build, the source told Reuters, confirming an earlier report by Bloomberg News. The new Volkswagen battery plant in Canada will have a maximum capacity of 90 gigawatt hours, enough to provide batteries for more than a million cars annually, Handelsblatt reported, citing a company source familiar with the matter. PowerCo, set up last year, is targeting more than 20 billion euros ($21.94 billion) in annual sales by 2030.

☆ Deutsche Bank says cutting risks from Russian IT operations
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +2 min

April 12 (Reuters) - Deutsche Bank (DBKGn.DE) is looking for ways to minimise business disruption as it reduces risks from its Russian technology operations in line with the law, Germany's biggest lender said on Wednesday. The comments by a bank spokesperson followed a report in the Financial Times that the bank was winding down its remaining software technology operations in Moscow and St Petersburg as it looks to end its decades-long reliance on Russian IT expertise. "We continue to de-risk our operations in the Russia technology centre," the spokesperson told Reuters in an email. "This process is being conducted in a way that minimises business disruption and is in full compliance with relevant Russian legislation." Deutsche Bank has not yet made the formal decision to completely shutter its Russian IT operations, but the move is considered a done deal internally, the Financial Times added.

☆ Deutsche Bank to close down remaining Russian IT operations - FT
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

April 12 (Reuters) - Deutsche Bank (DBKGn.DE) is winding down its remaining software technology operations in Russia's Moscow and St Petersburg as the German lender looks to end its two decades of reliance on Russian IT expertise, the Financial Times reported on Wednesday. The lender subsequently started relocating several hundred Russian IT experts to Berlin with Handelsblatt reporting that a mid-three-digit number of the IT experts having moved as of June last year. Deutsche Bank has not yet made the formal decision to completely shut down its Russian IT operations but the move is considered a done deal internally, the report said. Deutsche Bank did not immediately respond to a Reuters request for comment. Reporting by Kanjyik Ghosh in Bengaluru; Editing by Jacqueline Wong and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ Siemens aims to raise software businesses sales share to 20%
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

BERLIN, April 12 (Reuters) - Germany's engineering firm Siemens (SIEGn.DE) wants to raise the share of software and digital business sales in the group to around 20% in the long term, its Chief Executive Roland Busch was quoted as saying as the company seeks growth in that market. Busch said he was very confident that the company could reach its target of digital growth of more than 10% this year, despite the ongoing switch to a "Software-as-a-Service" rental model. "We have gained new customers and additional sales, especially from small and medium-sized companies, via the Siemens Xcelerator platform," Busch was quoted as saying by Handelsblatt newspaper on Wednesday. The platform which Siemens presented last year now has 70 external partners offering 91 applications and 333 products, he added. Reporting by Riham Alkousaa; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Italy became the first Western country to ban ChatGPT. Here's what other countries are doing
▼ + stars: | 2023-04-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

Stefani Reynolds | AFP | Getty ImagesItaly has become the first country in the West to ban ChatGPT, the popular artificial intelligence chatbot from U.S. startup OpenAI. watch nowVarious regulators are concerned by the challenges AI poses for job security, data privacy, and equality. "It's more, if you're using AI, these are the principles you should be thinking about," Holmes told CNBC. Ireland is typically the most active regulator when it comes to data privacy since most U.S. tech giants like Meta and Google have their offices there. The U.S. hasn't yet proposed any formal rules to bring oversight to AI technology.

☆ Italy will fall behind if ChatGPT not reactivated soon - deputy PM
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +2 min

ROME, April 4 (Reuters) - Italy's competitiveness will suffer relative to European Union peers if the popular ChatGPT chatbot is not reactivated soon, Deputy Prime Minister and Infrastructure Minister Matteo Salvini said on Tuesday. Microsoft-backed (MSFT.O) OpenAI took ChatGPT offline in Italy on Friday after the national data protection agency raised concerns over possible privacy violations, and for failing to verify that users were aged 13 or above. Italy's data authority, also known as Garante, said it would have a video-conference meeting on Wednesday evening with OpenAI's representatives, after the company expressed its readiness to cooperate. Privacy regulators in France and Ireland have reached out to counterparts in Italy to find out about its probe, and Germany could follow in Italy's footsteps, the German commissioner for data protection told the Handelsblatt newspaper on Monday. Reporting by Alvise Armellini and Elisa Anzolin Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Germany could block ChatGPT if needed, says data protection chief
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

BERLIN, April 3 (Reuters) - Germany could follow in Italy's footsteps by blocking ChatGPT over data security concerns, the German commissioner for data protection told the Handelsblatt newspaper in comments published on Monday. "In principle, such action is also possible in Germany," Ulrich Kelber said, adding that this would fall under state jurisdiction. Privacy watchdogs in France and Ireland said they had also contacted the Italian data regulator to discuss its findings. "We are following up with the Italian regulator to understand the basis for their action and we will coordinate with all EU data protection authorities in relation to this matter," said a spokesperson for Ireland's Data Protection Commissioner (DPC). The privacy regulator in Sweden said it has no plans to ban ChatGPT nor is it in contact with the Italian watchdog.

☆ Germany in principle could block Chat-GPT if needed - data protection chief
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: 1 min

BERLIN, April 3 (Reuters) - Germany could follow in Italy's footsteps by blocking Chat-GPT over data security concerns, the German commissioner for data protection told the Handelsblatt newspaper in comments published on Monday. "In principle, such action is also possible in Germany," Ulrich Kelber said, adding that this would however fall under state jurisdiction. However, he did not outline any current plans to take such action. Kelber said that Germany has requested further information from Italy on its temporary ban, which prompted Microsoft-backed (MSFT.O) OpenAI to take ChatGPT offline in the country. Writing by Rachel More; editing by Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Andrew Bailey says Bank of England on high alert as investors 'test' banks
▼ + stars: | 2023-03-28 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

On Monday, European bank shares rose, boosted by news that First Citizens Bank in the United States would buy most of the assets of Silicon Valley Bank, which collapsed earlier this month. “I think there are moves in markets to, if you like, test out firms,” Bailey told a UK parliamentary committee Tuesday. José Manuel Campa, the head of the European Banking Authority, told Germany’s Handelsblatt Monday that European lenders remained vulnerable. The Swiss heavyweight was rescued by UBS, while SVB UK was bought by HSBC (HBCYF) for £1 after its US parent was shut by regulators. Despite being well-capitalized, SVB UK would not have survived the demise of its US parent, according to Bailey.

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