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☆ Volkswagen to reduce headcount at 'no longer competitive' VW brand
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

A Volkswagen logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. "With many of our pre-existing structures, processes and high costs, we are no longer competitive as the Volkswagen brand," Schaefer told a staff meeting at the carmaker's headquarters in Wolfsburg, according to a post on the company's intranet site and seen by Reuters. The company had previously said it planned to take advantage of the "demographic curve" to reduce its workforce, having pledged that it would not carry out dismissals until 2029. In Monday's meeting, human resources board member Gunnar Kilian said this would be achieved through agreements on partial or early retirement. ($1 = 0.9168 euros)Reporting by Victoria Waldersee Writing by Matthias Williams Editing by Miranda Murray and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Thomas Schaefer, Schaefer, Gunnar Kilian, Kilian, Victoria Waldersee, Matthias Williams, Miranda Murray, David Goodman Organizations: New York, REUTERS, BERLIN, VW, Volkswagen, Reuters, Victoria, Thomson Locations: Manhattan , New York City, U.S, Wolfsburg

View of the construction site of the Elbtower building, owned by Rene Benko’s Signa and a Commerzbank subsidiary, in Hamburg Germany, November 2, 2023. On Friday, Signa Real Estate Management filed for insolvency in a local court in Berlin, according to a court filing. The real estate sector was a bedrock of Germany's economy for years, accounting for roughly a fifth of output and one in 10 jobs. Now a sharp rise in rates has put an end to the run, tipping some developers into insolvency as deals freeze and prices fall. Weakness in commercial real estate in the United States as offices remain empty after the pandemic and the struggles of major property developers in China have focused global attention on the sector.

Persons: Rene Benko’s Signa, Fabian Bimmer, Signa, Elliott, Rene Benko, Switzerland's Julius Baer, Hannes Moesenbacher, Matthias Inverardi, John O'Donnell, Miranda Murray, Sharon Singleton, Mark Potter Organizations: REUTERS, Rights, Elliott Investment Management, Chrysler, Estate Management, Austria's Raiffeisen Bank, Thomson Locations: Hamburg Germany, Austrian, Germany, Austria, Switzerland, Sweden, Berlin, Bavaria, Hesse, Hamburg, Europe's, United States, China

☆ Stephen Sondheim Doesn’t Want to Be Your Savior - The New York Times
▼ + stars: | 2023-11-25 | by ( Ben Brantley | ) www.nytimes.com time to read: +3 min

It should be noted that, when he was alive, Mr. Sondheim was aware of and amused by rampant tendencies to deify him. Consider this sardonic ditty from a show called “Sondheim on Sondheim,” a 2010 Broadway revue commemorating his 80th birthday. He wrote the song in response to a 1994 headline in New York magazine that asked, “Is Stephen Sondheim God?” His musical answer: “You have to have something to believe in. There’s a half-voiced fear among musical acolytes, understandable in a time in which theater itself is newly under siege, that on some level Stephen Sondheim represents the end of the line for a once-flourishing art form. Yet none, with the qualified exception of Mr. Miranda, seem likely to engender the kind of enduring, passionate cult that Mr. Sondheim has inspired.

Persons: Shakespeare, Auden’s, Yeats, Mr, Sondheim, ”, “, Stephen Sondheim God, I, Stephen Sondheim, Lin, Manuel Miranda, Michael John LaChiusa, Adam Guettel, Michael R, Jackson, Jeanine Tesori, Miranda, Sondheim’s Locations: ”, New York, There’s

The court ruling has called into question Germany's traditionally strict fiscal policy and sparked warnings that German companies could be starved of support to keep them globally competitive. HANDS TIEDThe crisis has sparked calls for reforming the debt brake. "With the debt brake as it is, we have voluntarily tied our hands behind our backs and are going into a boxing match," he said. A poll by broadcaster ZDF suggested only a minority of Germans supported suspending the debt brake. Some 57% wanted the budget shortfall from the court ruling to be covered by spending cuts, 11% favoured tax increases and 23% wanted the state to take on additional debt.

Persons: Olaf Scholz, Robert Habeck, Christian Lindner, Scholz, Lindner, Habeck, Steffen Hebestreit, Holger Hansen, Christian Kraemer, Miranda Murray, Rene Wagner, Matthias Williams, Toby Chopra, Gareth Jones, Deepa Babington Organizations: Climate, Finance, BERLIN, Greens, Social Democrats, Free Democrats, FDP, ZDF, Thomson Locations: Germany, Europe's, East Germany, China

Lindner plans to lift self-imposed limits on borrowing and present a supplementary budget next week after a constitutional court ruling wiped billions from the federal budget and forced the government to freeze most new spending commitments. HANDS TIED IN A BOXING MATCHThe crisis has sparked calls for reforming the debt brake. "With the debt brake as it is, we have voluntarily tied our hands behind our backs and are going into a boxing match. A poll by the broadcaster ZDF suggested only a minority of Germans, 35%, supported suspending the debt brake however, compared to 61% wanting it to stay in place. Some 57% wanted the budget shortfall from the court ruling to be covered by spending cuts, 11% favoured tax increases and 23% wanted the state to take on additional debt.

Persons: Christian Lindner, Lindner, hawkish Lindner, Chancellor Olaf Scholz's, Robert Habeck, Habeck, Thomas Gitzel, Holger Hansen, Christian Kraemer, Miranda Murray, Rene Wagner, Matthias Williams, Toby Chopra Organizations: BERLIN, German Finance, Greens, ZDF, Bank, Thomson Locations: Germany, China, Europe

The court ruling has called into question Germany's traditionally strict fiscal policy and sparked warnings that German companies could be starved of support to keep them globally competitive. The debt brake, introduced after the global financial crisis of 2008/09, was first suspended in 2020 to help the government support firms and health systems during the COVID-19 pandemic. HANDS TIEDThe crisis has sparked calls for reforming the debt brake. "With the debt brake as it is, we have voluntarily tied our hands behind our backs and are going into a boxing match," he said. A poll by broadcaster ZDF suggested only a minority of Germans supported suspending the debt brake.

Persons: Christian Lindner, Fabrizio Bensch, Scholz, Olaf Scholz, Lindner, Robert Habeck, Habeck, Steffen Hebestreit, Holger Hansen, Christian Kraemer, Miranda Murray, Rene Wagner, Matthias Williams, Toby Chopra, Gareth Jones Organizations: REUTERS, BERLIN, Finance, Greens, ZDF, Thomson Locations: Berlin, Germany, Europe's, East Germany, China

☆ Germany's economy shrinks slightly in third quarter
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsBERLIN, Nov 24 (Reuters) - Germany's economy shrank slightly in the third quarter compared with the previous three months, data from its statistics office showed on Friday. The figure confirmed an initial estimate, published in late October, that saw Europe's largest economy shrink by 0.1%. In the second quarter, Germany's economy had grown by 0.1% after stagnating in the first three months of the year. Private consumer spending, which accounts for about two-thirds of GDP, was 0.3% lower than in the previous quarter, the statistics office said. The Bundesbank said in its monthly economic report on Monday that the German economy will likely shrink again in the fourth quarter and show signs of slight improvement early next year.

Persons: Kai Pfaffenbach, Ruth Brand, Thomas Gitzel, Miranda Murray, Linda Pasquini, Jamie Freed Organizations: REUTERS, Rights, Bank, Thomson Locations: Frankfurt, Germany, Europe

☆ German union Verdi calls for strikes at Amazon on Black Friday
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +1 min

The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, January 5, 2023. REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsNov 23 (Reuters) - German trade union Verdi has called on members to go on strike at five Amazon (AMZN.O) distribution centres across Germany on Black Friday, it said in a statement on Thursday. Strong demand thanks to bargains on Black Friday mean the day is usually one of the most profitable for online retailers like Amazon. "Amazon employees have decided to rename Black Friday 'Make Amazon Pay Day'", said Silke Zimmer, the member for retail on Verdi's governing board. "It's not for nothing that half of our colleagues have been with us for over five years," the Amazon spokesperson said.

Persons: Pascal, Verdi, Silke Zimmer, Matthias Inverardi, Louis van Boxel, Woolf, Emma, Victoria Farr, Miranda Murray, Daniel Wallis Organizations: REUTERS, Amazon, Bad, Thomson Locations: Lauwin, France, Germany, Koblenz, Leipzig, Rheinberg, Dortmund, U.S

☆ German budget hole puts industry at risk, steel sector warns
▼ + stars: | 2023-11-23 | by ( Christoph Steitz | ) www.reuters.com time to read: +3 min

Steel coils are waiting for delivery at the storage and distribution facility of German steel maker ThyssenKrupp in Duisburg, Germany, November 16, 2023. Bernhard Osburg, president of the German steel association and CEO of Thyssenkrupp's (TKAG.DE) steel division, the country's top steelmaker, told reporters that it was vital for Germany to protect its future competitiveness. His comments highlight major uncertainty within Germany's industrial firms, which are already struggling with local economic conditions and are increasingly looking to alternative, more favourable, markets, such as the United States. So he called on Berlin to hold a summit soon with German industry leaders to provide answers on how these investments could be protected, warning of an "utmost pressure to act". Germany's steel sector, which apart from Thyssenkrupp also includes Salzgitter (SZGG.DE), directly employs around 80,000, while around 4 million jobs indirectly depend on it.

Persons: Wolfgang Rattay, Bernhard Osburg, Osburg, Berlin, Chancellor Olaf Scholz's, Christoph Steitz, Miranda Murray Organizations: REUTERS, Thomson Locations: Duisburg, Germany, Berlin, FRANKFURT, United States, decarbonisation, Thyssenkrupp

☆ How climate change got sucked into the culture wars
▼ + stars: | 2023-11-23 | by ( Laura Paddison | Ella Nilsen | ) edition.cnn.com time to read: +11 min

For an example of how climate change is increasingly becoming a flashpoint in the culture wars, Germany is a good place to start. Meanwhile, Spain’s far-right Vox party vowed to defend the country against “the new climate religion.”But to understand why climate change and the culture wars have become so enmeshed globally, experts say the United States probably holds the key. It’s effective, it does scare people.”The origins of the climate culture war in the US lie in the early 1990s, when a new push for global climate action collided with big geopolitical change, McCright said. Lightning rod for right wing mediaConservative media has played an outsized role in fueling culture war narratives, according to experts. Fox has “been laying the groundwork necessary for positioning climate policies as a culture war issue for a long time,” she said.

Persons: —, stoked, ”, Miranda Schreurs, Anger, Green, Kristin Brinker, Jörg, Stephan Lewandowsky, Rishi Sunak, “, ” Sunak, Vox, Ron DeSantis, ” DeSantis, Aaron McCright, McCright, ” McCright, ’, Brandon Bell, Lewandowsky, “ you’d, ” Alec Tyson, Alexandria Ocasio, Cortez, Sen, Ed Markey, Allison Fisher, Fisher, Fox, didn’t, Ed Matthew, Matthew said, Jennie King, ” King, Germany —, Matthew of E3G, ” Schreurs, “ it’s Organizations: CNN, Green Party, Technical University of Munich, University of Bristol, British, Justice, Florida Gov, Republican, Michigan State University, Oil, Republicans, Pew Research, Pew, Conservative, Massachusetts, Green, Deal, Fox, Media, Institute for Strategic Locations: Germany, Charlottenburg, Berlin, Europe, United States, West Texas, Florida, American, Kyoto, Soviet Union, Federal, Midland , Texas, Alexandria, Cortez of New York

Steel coils are waiting for delivery at the storage and distribution facility of German steel maker ThyssenKrupp in Duisburg, Germany, November 16, 2023. As a result of the impairment, Thyssenkrupp, which has been trying to divest its steel division for several years, posted a 2-billion-euro net loss for the fourth quarter. Shares of the company, which proposed a stable dividend of 0.15 euros apiece, were indicated to open 1.8% lower in pre-market trade. Thyssenkrupp - which apart from steel builds submarines, car parts and operates a large materials trading business - said it was in constructive and open-ended talks with EPH about a potential steel joint venture. EPH, controlled by Czech billionaire Daniel Kretinsky, would support Thyssenkrupp Steel Europe with its energy expertise in any joint venture, the company said.

Persons: Wolfgang Rattay, Miguel Lopez, Daniel Kretinsky, Thyssenkrupp, Christoph Steitz, Tom Kaeckenhoff, Sandra Maler, Miranda Murray, Sherry Jacob, Phillips Organizations: REUTERS, Wednesday, EPH, Thyssenkrupp Steel, Thomson Locations: Duisburg, Germany, FRANKFURT, DUESSELDORF, Czech, Europe

Their options include drawing up a supplementary budget for 2023 and suspending Germany's self-imposed debt brake before reinstating it for next year. "Our goal is to discuss the budget quickly but with due care," said a joint statement of ruling party lawmakers. The delay has heightened uncertainty about spending in all areas of the German economy and meant the 2024 budget might not be concluded before the end of the year. "I firmly assume that the commitments for Intel and TSMC will remain," a government source said, adding: "This is very important to the chancellor, as well as to the economy minister." This will happen in the course of next early 2024 and we will see how far hydrogen is available," CEO Miguel Lopez said.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Olaf Scholz's, Scholz's, Siegfried Russwurm, TSMC, Scholz, Miguel Lopez, Holger Hansen, Christian Kraemer, Victoria Waldersee, Andreas Rinke, Madeline Chambers, Matthias Williams, Miranda Murray, Alex Richardson, Christina Fincher Organizations: Finance, Climate, Government, Ukraine Industry, Intel, TSMC, Wednesday, Social Democrat, Greens, Free Democrats, Fund, Eurasia Group, U.S, BMW, Volkswagen, Thomson Locations: TSMC BERLIN, Germany's, Ukraine, EU, Saxony, Anhalt, Berlin, Germany

☆ German defence contractor Hensoldt sees investment opportunities in AI
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

A logo of defense supplier Hensoldt AG is pictured during Hensoldt's initial public offering (IPO) at the Frankfurt Stock Exchange in Frankfurt, Germany, September 25, 2020. REUTERS/Ralph Orlowski/File Photo Acquire Licensing RightsNov 22 (Reuters) - Hensoldt (HAGG.DE) sees artificial intelligence (AI) and analytics as an area with investment opportunity, the German defence electronics maker said at its Capital Markets Day. "Investment opportunities arise, for example, in the areas of artificial intelligence and analytics as well as in the services and integration business," it said in a statement. According to slides from Hensoldt's Capital Markets Day presentation, the company plans to invest in AI development "across all business for all relevant products and solutions". Last week, Hensoldt announced plans for a capital increase to finance the acquisition of German military service firm ESG.

Persons: Ralph Orlowski, Thomas Mueller, Hensoldt, Andrey Sychev, Alexander Huebner, Miranda Murray Organizations: Hensoldt, Frankfurt Stock Exchange, REUTERS, IRIS, Hensoldt's, Markets, Thomson Locations: Frankfurt, Germany, Ukraine

☆ Pressure mounts on German government to find way out of budget hole
▼ + stars: | 2023-11-22 | by ( Holger Hansen | ) www.reuters.com time to read: +4 min

The court ruled the budget manoeuvre was incompatible with the debt restrictions enshrined in Germany's constitution. The pressure is even more intense as talks for next year's budget are on the final stretch. Highlighting the gravity of the situation, the government has already imposed a freeze on most new spending commitments on ministries. "German industry is looking at the current political situation with the greatest concern," said Siegfried Russwurm, president of the BDI industry association. One obstacle to reforming the debt brake, which restricts Germany's structural budget deficit to the equivalent of 0.35% of gross domestic product, has been Finance Minister Christian Lindner.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Chancellor Olaf Scholz's, Siegfried Russwurm, Holger Hansen, Christian Kraemer, Andreas Rinke, Madeline Chambers, Miranda Murray, Alex Richardson Organizations: Finance, Climate, Europe's, Social Democrat, Greens, Free Democrats, Fund, Reuters, Ukraine, Greens Economy, U.S, Intel, European, Thomson Locations: BERLIN, reallocating, Berlin, Ukraine

☆ Austria's RBI: realized extra 150 mln euros of property sector risk provisions
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +1 min

The logo of Raiffeisen Bank International (RBI) is seen at its headquarters in Vienna, Austria, March 14, 2023. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsVIENNA, Nov 21 (Reuters) - Raiffeisen Bank International (RBI) (RBIV.VI) has realized additional forward-looking risk provisions of around 150 million euros ($163 million) for the real estate sector, the Austrian bank's risk chief, Hannes Moesenbacher, said on Tuesday. Chief Executive Johann Strobl added that these provisions are "on top" and therefore go beyond what can be modelled. "In total, our top five commitments in the real estate sector amount to 2.2 billion euros," said Moesenbacher, who added that number one position amounted to 755 million euros. At its general meeting in March, RBI had decided not to distribute a dividend for the time being due to uncertainties.

Persons: Leonhard Foeger, Hannes Moesenbacher, Johann Strobl, Moesenbacher, Rene Benko, Strobl, Alexandra Schwarz, Miranda Murray, David Evans Organizations: Raiffeisen Bank, REUTERS, Rights, Signa Group, RBI, Thomson Locations: Vienna, Austria, Austrian, Russia

Miniatures of windmill and electric pole are seen in front of Siemens Gamesa logo in this illustration taken January 17, 2023. One Frankfurt-based trader said the investor event, where Siemens Gamesa disclosed around 400 million euros in cost cuts by 2026, was bringing "no new insights". At 1610 GMT, shares in Siemens Energy, in which Siemens AG (SIEGn.DE) owns a direct 25.1% stake, were still down 6.3%. Siemens Gamesa will likely cut onshore turbine capacity outside Europe and outsource the production of some components, the division's Chief Executive Jochen Eickholt said, outlining the group's restructuring roadmap. Reuters last month reported that Siemens Gamesa was considering shutting plants and sales offices as well as outsourcing some production.

Persons: Dado Ruvic, Siemens Gamesa, Christian Bruch, Jochen Eickholt, Eickholt, Christoph Steitz, Tom Kaeckenhoff, Danilo Masoni, Madeline Chambers, Miranda Murray, David Evans Organizations: Siemens, REUTERS, Siemens Energy, Siemens Gamesa, Siemens AG, Reuters, Thomson Locations: Europe, FRANKFURT, DUESSELDORF, Frankfurt

The government is considering whether to suspend Germany's constitutionally enshrined debt brake as a way out of the spending crunch, a source told Reuters, while a leading member of Scholz's own party also called for such a move. Habeck said he was not proposing to abolish Germany's constitutionally enshrined debt brake, but added that "it is inflexible". We are now being forced to modernize the economy with fewer public subsidies," he told the Bild am Sonntag newspaper. "Rather, it is the unsound and unconstitutional budget policy of the federal government and the (three-way) coalition. "One possibility could be to suspend the debt brake in 2023 ... but then not in 2024.

Persons: Robert Habeck, Minister Christian Lindner, Chancellor Olaf Scholz's, Germany's, Lindner, Habeck, Sebastian Brehm, Markus Wacket, Christian Kraemer, Matthias Williams, Miranda Murray, Ed Osmond, Paul Simao Organizations: Minister, Reuters, Greens, Free Democrats, CDU, CSU, Thomson Locations: United States

☆ Bayer stops blood thinner drug trial due to lack of effect, in major setback
▼ + stars: | 2023-11-20 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

Logo and flags of Bayer AG are pictured outside a plant of the German pharmaceutical and chemical maker in Wuppertal, Germany August 9, 2019. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsNov 19 (Reuters) - Germany's Bayer (BAYGn.DE) has aborted a large late-stage trial testing a new anti-clotting drug due to lack of efficacy, dealing a fresh blow to the embattled drugmaker and throwing its most promising medium-term development project in doubt. The trial halt, which followed recommendation of independent trial supervisors, marks another setback for a company burdened by a weak herbicide business, high debt and by U.S. lawsuits over the alleged carcinogenic effect of its commonly used Roundup weedkiller. Bayer said it will further analyse the data of the discontinued trial, known as OCEANIC-AF, which was initiated in August 2022. It said the independent trial supervisors recommended the continuation of a separate phase III trial, OCEANIC-STROKE, testing asundexian to prevent repeated strokes in participants who have already suffered one.

Persons: Wolfgang Rattay, Germany's Bayer, Bill Anderson, Bayer, Stefan Oelrich, Johnson, Ludwig Burger, Jose Joseph, Miranda Murray, Christopher Cushing Organizations: Bayer AG, REUTERS, Bristol, Myers Squibb, Johnson, Thomson Locations: Wuppertal, Germany, United States, asundexian, U.S, Frankfurt, Bengaluru

☆ Julius Baer lowers profit expectations as credit provisions rise
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

The logo of Swiss private bank Julius Baer is seen at their headquarters in Zurich, Switzerland February 2, 2022. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsZURICH, Nov 20 (Reuters) - Julius Baer (BAER.S) on Monday dampened profit expectations after it booked valuation adjustments of 82 million Swiss francs ($92.6 million). The Swiss bank said that of the 82 million francs in valuation adjustments, 70 million francs were booked against the group's credit portfolio after Oct. 31, 2023. Analysts at Zuercher Kantonalbank had expected 15 billion francs, with Baer having already reported inflows of 7 billion francs for the first half of 2023. Assets under management rose 3% to 435 billion francs during the period, driven mainly by inflows and the strength of the global equity market.

Persons: Julius Baer, Arnd, Baer, Rene Benko, Andreas Venditti, Zuercher Kantonalbank, Noele, Miranda Murray, Christopher Cushing, David Goodman Organizations: REUTERS, Rights, Signa, Reuters, Analysts, Thomson Locations: Zurich, Switzerland, Swiss, Zuercher

They used to take advantage of a grain elevator in Mayfield, Kentucky — a massive facility that bought and stored millions of bushels of grain from farmers. “The swings in the weather events that we have ... that’s kind of scary,” he said, especially for those with smaller farms. Human-caused climate change is only anticipated to amplify the number and intensity of those extreme events, from flash droughts to increased rainfall. Although he took some losses, he says that he and other farmers are used to dealing with uncooperative weather. On smaller farms, if farmers are forced to put everything in a low-lying area that floods, an entire crop can be affected, Schmitz said.

Persons: — Justin Ralph, he's, They're, you’ve, Ralph, Keith Lowry, Lowry, What’s, ”, Miranda Rudolph, Hans Schmitz, Jed Clark, Schmitz, Adam Kough, Murray, Kough, Joshua Bickel, ___ Read, Melina Walling Organizations: ” Farmers, University of, Farmers, Associated Press, AP Locations: MAYFIELD, Ky, Mayfield , Kentucky, Southern, Mayfield, Graves County, Kentucky, Indiana, ___

☆ Exclusive: German court ruling could hit growth next year - econ ministry source
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 17 (Reuters) - A German court ruling that forced Berlin to freeze 60 billion euros ($65 billion) in planned green investment spending could have a negative impact on growth in Europe's biggest economy, an economy ministry source told Reuters on Friday. "According to initial rough estimates, a loss of investment funds could cause growth in 2024 to be about half a percentage point lower," the source, who is familiar with the economy ministry's forecasts, said. "So the ruling could have a negative impact on economic growth," the source added. Last month, the economy ministry predicted 1.3% growth for next year. The economy ministry is run by the Greens, who share power with Scholz's Social Democrats (SPD) and the pro-business Free Democrats (FDP).

Persons: Chancellor Olaf Scholz's, Christian Lindner, Andreas Rinke, Miranda Murray, Madeline Chambers, Sabine Wollrab Organizations: Greens, Scholz's Social Democrats, Free Democrats, Thomson Locations: Berlin, Europe's

☆ Bradley Cooper practiced six years to do six minutes of conducting in ‘Maestro’
▼ + stars: | 2023-11-16 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

Cooper broke down a scene in which Bernstein famously conducted the 1976 London Symphony Orchestra in Ely Cathedral. “That was the London Symphony Orchestra. And I spent six years learning how to conduct six minutes and 21 seconds of music.”Whew. Cooper, who also directed the film and co-wrote the script, said he watched raw footage of Bernstein conducting at the event to replicate it as authentically as possible. “Maestro” will have a limited theatrical release on Nov. 22 before it starts streaming on Netflix in December.

Persons: Bradley Cooper, Leonard Bernstein, “ Maestro, ”, IndieWire, “ Hamilton ” Tony, Lin, Manuel Miranda, Cooper, Bernstein, ” Cooper, Maestro ” Organizations: CNN, Symphony Orchestra, London Symphony Orchestra, Netflix Locations: Los Angeles, Ely Cathedral

☆ Eli Lilly plans to invest 2 bln euros in new German plant -source
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. REUTERS/Mike Segar/File Photo Acquire Licensing RightsCompanies Eli Lilly and Co FollowBERLIN, Nov 16 (Reuters) - U.S. pharma company Eli Lilly (LLY.N) plans to invest 2 billion euros ($2.17 billion) in a new plant in Alzey, western Germany, a source close to the negotiations told Reuters on Thursday. Separately, people familiar with the plans told Reuters that at least 1,000 jobs would be created. Reuters had reported on Wednesday that the pharma group intended to invest in Germany after Eli Lilly called a news conference for Friday but few details were available. ($1 = 0.9217 euros)Reporting by Andreas Rinke and Rene Wagner Writing by Madeline Chambers Editing by Kirsti Knolle and Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Persons: Eli Lilly, Mike Segar, Andreas Rinke, Rene Wagner, Madeline Chambers, Kirsti Knolle, Miranda Murray Organizations: Company, REUTERS, . pharma, Reuters, pharma, Thomson Locations: Branchburg , New Jersey, Alzey, Germany

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. The company declined to comment on the plans but news conferences are planned in Alzey, where sources say the plant will be built, and Berlin on Friday. Other people familiar with the plans told Reuters that at least 1,000 jobs would be created. Eli Lilly said it would unveil "far-reaching investment plans" at Friday's news conference, which will be attended by Germany's economy and health ministers. Mounjaro's success helped Lilly post a 37% gain in third-quarter revenues to $9.5 billion, topping Wall Street estimates.

Persons: Eli Lilly, Mike Segar, Mounjaro, TSMC, Lilly's, Lilly, Rene Wagner, Klaus Lauer, Andreas Rinke, Ludwig Burger, Thomas Escritt, Madeline Chambers, Miranda Murray, Christina Fincher Organizations: Company, REUTERS, Basf, Reuters, BASF, U.S ., U.S, Intel, European Union, Novo Nordisk, U.S . Food, Drug Administration, Thomson Locations: Branchburg , New Jersey, BERLIN, Germany, Alzey, Berlin, U.S, Ukraine, European, Indianapolis, Danish, Eisai

☆ German police raid Iran-linked centre over suspected Hezbollah support
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

[1/2] German police officers walk towards the Islamic Center Hamburg, during a raid, due to suspicion of members acting against a constitutional order and supporting the militant group Hezbollah in Hamburg, Germany, November 16, 2023. REUTERS/Fabian Bimmer Acquire Licensing RightsBERLIN, Nov 16 (Reuters) - German police conducted raids early on Thursday in seven states over the Islamic Centre of Hamburg's suspected support for the militant group Hezbollah, the interior ministry said. "I want to make clear that we are acting against Islamists, not against a religion or another state," said German Interior Minister Nancy Faeser. In Hamburg alone, 300 officers conducted 31 searches in connection with the centre, the city's interior senator said. "The suspicions against the Islamic Centre of Hamburg are serious," and it has long been monitored by the domestic intelligence agency for Islamist activities, said Faeser.

Persons: Fabian Bimmer, Nancy Faeser, Linda Pasquini, Miranda Murray, Madeline Chambers, Edmund Klamann Organizations: Islamic Center, Hezbollah, REUTERS, Rights, Islamic, Authorities, of, Lebanese, Thomson Locations: Islamic Center Hamburg, Hamburg, Germany, Israel, Gaza, Iran, of Hamburg

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