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☆ HeatTransformers, a one-stop-shop for heat pumps, just raised $16 million. Check out the 10-slide pitch deck it used to raise the fresh funds.
▼ + stars: | 2023-04-04 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

HeatTransformers, a Dutch one-stop-shop for heat pumps, has just secured $16 million. A startup positioning itself as a one-stop-shop for heat pumps has just secured 15 million euros (around $16 million) in a Series A round. They ended up reevaluating the homes of some referrals, which Otten said had been quoted for the wrong heat pumps. Heat pump sales across Europe grew by almost 38% in 2022 with 3 million units sold, according to the European Heat Pump Association. Still, heat pumps heat just 16% of homes and commercial buildings, the association found.

☆ Europe throws ignition cars a thin lifeline
▼ + stars: | 2023-03-28 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

Bowing to pressure from automaking Germany, the European Union has agreed to exempt cars that run on carbon-neutral synthetic fuel from a ban on new combustion engine vehicles in 2035. loadingFor mass-market brands, electric cars will likely remain the cheapest option. RBC industry analysts expect electric and plug-in hybrid vehicles to make up 90% of Western European passenger vehicle sales by 2035. Yet, it will do little to stop the hollowing out of Europe’s combustion engine supply chain. The deal paves the way for EU ministers to approve the 2035 phaseout law for CO2-emitting cars on March 28.

☆ How Ukraine's closest allies turned the tide on sending advanced tanks, and could do the same for military jets
▼ + stars: | 2023-03-28 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +10 min

Their success, an expert told Insider, shows how Europe's balance of power has shifted eastwards since Russia's invasion in February 2022. Sergei Grits/APEstonian Foreign Minister Urmas Reinsalu told Insider that Ukraine's allies had been "too slow" when deciding to send weapons to Ukraine. AP Photo/Martin Meissner, FileReinsalu, Estonia's foreign minister, told Insider that he had repeatedly engaged with his German counterpart about the decision. Kallas and Šimonytė, the two prime ministers, both told Insider that they support Ukraine getting military jets. "Ordinarily, on less critical matters, peer pressure happens but the public sees very little of it or none of it," he told Insider.

☆ French prosecutors search bank offices over dividend stripping
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

The PNF financial prosecution office said in a statement the probe was linked to so-called "cum-ex" dividend stripping, a trading scheme whereby banks and investors swiftly trade shares of companies around their dividend payout day. The searches by French prosecutors are the latest to hit global banks as similar investigations have been conducted in other European countries, including Germany. It was the highest-profile prosecution and longest sentence to date in a series of trials that have also convicted British bankers. It said six German prosecutors were also assisting the investigations. Reporting by Tassilo Hummel, Blandine Hénault and Sudip Kar-Gupta; writing by Silvia Aloisi, Editing by Giles ElgoodOur Standards: The Thomson Reuters Trust Principles.

☆ Europe’s rush to LNG could turn into ‘world’s most expensive and unnecessary insurance policy'
▼ + stars: | 2023-03-23 | by ( Sam Meredith | ) www.cnbc.com time to read: +4 min

The Golar Tundra project is a key part of Italy's plan to reduce its reliance on Russian gas following the invasion of Ukraine. Europe must carefully balance its gas and LNG systems, and avoid tipping the scale from reliability to redundancy. "This is the world's most expensive and unnecessary insurance policy," said Ana Maria Jaller-Makarewicz, energy analyst for IEEFA Europe and author of the analysis. "Europe must carefully balance its gas and LNG systems, and avoid tipping the scale from reliability to redundancy. Boosting Europe's LNG infrastructure will not necessarily increase reliability — there's a tangible risk that assets could become stranded," Jaller-Makarewicz said.

☆ EU executive says no decision yet on financial sector commission ban
▼ + stars: | 2023-03-22 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, March 22 (Reuters) - The European Union's executive said on Wednesday that upcoming plans to bolster retail investor protections will be "ambitious", but any ban on banks offering commission in return for business from financial advisers has yet to be decided. The European Commission in the coming weeks is due to propose its "retail investment strategy" to deepen its capital market, a step made more urgent by Britain's exit from the bloc. His boss, EU financial services commissioner Mairead McGuinness, has suggested that inducements or commission offered by banks to financial advisers who send business their way should be banned to end a conflict of interest and cut fees. Industry officials talk of the idea of a ban being dropped or introducing over many years. Any follow-up legislative proposal would be for the new commission from late 2024, he added.

Speaking alongside Netanyahu after talks in Berlin, Scholz said he hoped that a compromise on the reforms suggested by Israel's President Isaac Herzog was not off the table. Netanyahu visited Germany while protests erupted once again in Israel over the reforms by his far-right government that have triggered mass unrest in recent weeks. Netanyahu called criticism of the plans "absurd", assuring Scholz that "Israel will remain a liberal democracy". Netanyahu wanted the meeting with Scholz to focus on efforts to prevent Iran from obtaining nuclear weapons. Netanyahu, who is on trial for corruption charges that he denies, says the judicial changes will strengthen democracy and boost business.

The Greens in particular, but also the SPD, want to invest more in the transition to a low-carbon economy. The FDP on other hand, seeks a return to solid public finances after signing off on hundreds of billions of euros of exceptional expenditure during the pandemic and energy crisis. German coalition disputes are also spilling over into European Union policymaking, sparking irritation among partners. Proportional representation, for example, means coalition governments are the norm, which can slow down decision-making. However singling out just one minister could could result in that minister's party exiting the coalition, he said.

☆ Poland may give Ukraine MiG-29 jets in next 4-6 weeks, says PM
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

WARSAW, March 14 (Reuters) - Poland could give Ukraine MiG-29 fighter jets in the coming four to six weeks, Prime Minister Mateusz Morawiecki said on Tuesday, suggesting that Kyiv's allies were moving closer to an agreement on the next step in their military support for the country. Poland has said it would be prepared to send Soviet-designed MiG-29 jets to Ukraine as part of a coalition of countries. "That could happen in the coming 4-6 weeks," Morawiecki told a news conference when asked how long it could be before Warsaw supplies the aircraft. Nad said the time had come also for Slovakia to make a decision on whether or not to send jets to Ukraine. Poland has sent 14 German-made Leopard 2 tanks to Ukraine.

☆ Putin says Germany remains "occupied"
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

March 14 (Reuters) - Russian President Vladimir Putin said Germany's response to the explosion on North Sea pipelines showed that the country remained "occupied" and unable to act independently decades after its surrender at the end of World War Two. Putin, interviewed on Russian television, also said European leaders had been browbeaten into losing their sense of sovereignty and independence. "The matter is that European politicians have said themselves publicly that after World War Two, Germany was never a fully sovereign state," Russian news agencies quoted Putin as telling state Rossiya-1 TV channel. Putin told the interviewer that the blasts were carried out on a "state level" and dismissed as "complete nonsense" suggestions that an autonomous pro-Ukraine group was responsible. The pipelines were intended to bring Russian gas to Germany, though since Moscow's invasion of Ukraine a year ago Berlin has taken steps to reduce its reliance on Russian hydrocarbons.

Investigations are ongoing as to what caused the Nord Stream pipelines, supplying Russian energy to Europe, to rupture and spew bubbles of natural gas into the Baltic Sea last September. "We have to make a clear distinction whether it was a Ukrainian group, whether it may have happened at Ukrainian orders, or a pro-Ukrainian group (acting) without knowledge of the government. Pistorius said earlier the likelihood was "equally high" that it could have been a "false flag operation staged to blame Ukraine". UKRAINE PLAYS DOWN CONCERNSThe New York Times said there was no evidence that Ukrainian President Volodymyr Zelenskiy or other Ukrainian government officials had played any role in the attacks. U.S. officials said no American or British nationals were involved," according to the New York Times report.

☆ Europe is trying to move from planes to trains. Here's how that's going
▼ + stars: | 2023-03-07 | by ( Miquel Ros | ) edition.cnn.com time to read: +11 min

Aviation emissions in Europe increased an average of 5% year-on-year between 2013 and 2019, according to the EU. Not surprisingly these moves have set alarm bells ringing in the aviation industry. “For many decision-makers, banning short-haul flights and showing support to the rail industry is an easy win to gain favor with the public, especially in Europe,” Montserrat Barriga, the ERA’s director general, told CNN. “Governments continue ignoring the biggest source of aviation emissions – long-haul flights, that remain unpriced and unregulated,” says T&E’s Dardenne. Better connectivity between intercity rail and airports would also reduce the need for short-haul flights.

☆ Logistics Giant Kuehne + Nagel Seeks Expansion
▼ + stars: | 2023-03-07 | by ( Paul Berger | ) www.wsj.com time to read: +5 min

Kuehne + Nagel CEO Stefan Paul. Photo: Kuehne + NagelAs a forwarder, Kuehne + Nagel helps companies move freight around the world by ocean, air and land and is a dominant player in the automotive, industrial, retail, aerospace, healthcare and high-tech industries. What do you see as potential growth areas for Kuehne + Nagel in the contract logistics space? Does that make it easier for a company like Kuehne + Nagel to jump in? How would that affect Kuehne + Nagel?

☆ Protests break out in Iran over schoolgirl illnesses
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +3 min

Iranian officials believe the girls may have been poisoned and have blamed Tehran's enemies. Iran's interior minister said on Saturday investigators had found "suspicious samples" that were being studied. Similar protests were held in two other areas in Tehran and other cities including Isfahan and Rasht, according to unverified videos. Iran rejected what it views as foreign meddling and "hasty reactions" and said on Friday it was investigating the causes of the incidents. Schoolgirls were active in the anti-government protests that began in September.

Scholz set off on the one-day trip, which unusually will not include a press delegation, late on Thursday. His visit comes days after Biden's security adviser, Jake Sullivan, said that Biden only sent Abrams tanks to Ukraine because Scholz made it a pre-condition for sending German Leopards. Berlin has insisted that Biden came to see it was necessary and so the decision was consensual. "The Biden administration will use the Scholz visit to try to shift Germany’s balance in the direction of stronger pushback." Scholz and Biden would discuss ongoing support for Ukraine, the upcoming NATO summit, and cooperation on the challenges posed by China and cooperation in the Indo-Pacific, U.S. officials said.

[1/5] The logo of Nord Stream AG is seen at an office building in the town of Vyborg, Leningrad Region, Russia August 22, 2022. Nord Stream 1 and Nord Stream 2, each consisting of two pipes, were built by Russia's state-controlled Gazprom to pump 110 billion cubic metres (bcm) of natural gas a year to Germany under the Baltic Sea. Three of the pipes were ruptured by unexplained blasts in September, and one of the Nord Stream 2 pipes remains intact. Engie (ENGIE.PA), Gasunie (GSUNI.UL) and Wintershall DEA (WINT.UL) (BASFn.DE) - stakeholders in Nord Stream AG, the operator of Nord Stream 1 - declined to comment. The similar-sized Nord Stream 2 had been completed in September 2021 as tensions with Russia were growing and ran in trouble as Germany's regulators refused to certify it.

☆ Eurozone Inflation Eases, but Core Measure Hits Record High
▼ + stars: | 2023-03-02 | by ( Paul Hannon | ) www.wsj.com time to read: 1 min

Eurozone inflation eased in February for the fourth straight month, but a strong pickup in services prices makes it likely that the European Central Bank will continue to raise interest rates in coming months. Despite the overall easing in price rises, inflation accelerated in many of the eurozone’s largest members—including Germany, France and Spain—underlines how difficult a task central bankers face in bringing it back under control. Strikes and labor unrest across the region are pushing wages higher, something that makes inflation stickier.

☆ Two Germans parked a mangled Russian tank in front of the Russian embassy in Berlin as an anniversary gift
▼ + stars: | 2023-02-24 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

A ruined Russian tank has been dumped outside the country's embassy in Berlin. The rusted heap appeared as a vivid symbol on the anniversary of Russia's invasion of Ukraine. The gesture came on the first anniversary of Russia's invasion of Ukraine. The destroyed T-72 1B tank sits at an intersection near the embassy on the city's famed Unter den Linden boulevard. A ruined Russian T-72 tank sits on a flatbed truck outside the Russian embassy in Berlin, in February 2023.

☆ Rolling EU debt would boost investment and markets
▼ + stars: | 2023-02-21 | by ( Rebecca Christie | ) www.reuters.com time to read: +8 min

From 2009 to 2019, the EU sold just 78 billion euros’ worth of debt into global capital markets. As of January 2023, outstanding issuance stood at 344 billion euros, including more than 275 billion euros sold since 2020. EU debt is in the hands of more than 1,000 investors from more than 70 different countries, according to the bloc’s investor relations team. Contrary to what proponents of Teutonic austerity claim, more EU debt would be safer EU debt. EU debt is rated AAA by Moody’s, Fitch, Scope and DBRS.

☆ A fat cat has become the top-rated tourist attraction in a Polish city with a perfect 5-star average on Google Maps
▼ + stars: | 2023-02-19 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +2 min

A black-and-white cat named Gacek is the top-rated tourist attraction in Szczecin, Poland. The fat feline has a perfect five-star rating on Google Maps. Gacek has a perfect five-star rating on Google Maps. The rotund feline has beaten out Szczecin's other tourist hotspots, including a Pomeranian Dukes' Castle built in 1346. A local animal shelter has urged visitors not to feed Gacek, per Gazeta.pl.

☆ BlackRock downgrades Japan stocks on possible monetary policy shift
▼ + stars: | 2023-02-15 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

Kazuhiro Nogi | Afp | Getty ImagesBlackRock, the world's largest asset manager, cut Japanese stocks to "underweight" – as Japan is set to appoint a new governor to lead its central bank. "We downgrade Japanese stocks on policy uncertainty and a worsening economic environment," BlackRock's research arm said Monday, before the government submitted its central bank picks to parliament. U.S. Treasury yields spiked, with the 10-year note and the 30-year note jumping 7 and 8 basis points respectively. One possibility is the Bank of Japan further widening its tolerance range beyond 50 basis points. Nikkei separately reported earlier this month that the central bank purchased 23.7 trillion yen ($182 billion) of JGBs in January, a new record high.

☆ Challenging the U.S. Is a Historic Mistake
▼ + stars: | 2023-02-04 | by ( Robert Kagan | ) www.wsj.com time to read: +1 min

These goals are achievable, Mr. Xi asserts, because the world is undergoing “great changes unseen in a century,” namely, the “great rejuvenation” of Chinese power and the decline of American power. “Time and momentum are on our side,” according to Mr. Xi. There is no denying that China has acquired substantial global power and influence in recent decades. Left to itself, a modernizing China could one day dominate its neighbors much as a unified, modernizing Germany once dominated Europe and a modernizing Japan once dominated China and the rest of East Asia. Those powers also believed that “time and momentum” were on their side, and in many respects they were right.

☆ Putin evokes Stalingrad to predict victory over 'new Nazism' in Ukraine
▼ + stars: | 2023-02-02 | by ( Tatiana Gomozova | ) www.reuters.com time to read: +4 min

Russian officials have been drawing parallels with the struggle against the Nazis ever since Russian forces entered Ukraine almost a year ago. REUTERS/Kirill Braga 1 2 3 4 5VICTORY PARADEAs Putin finished speaking, the audience gave him a standing ovation. Thousands of people lined Volgograd's streets to watch a victory parade as planes flew overhead and modern and World War Two-era tanks and armoured vehicles rolled past. Some of the modern vehicles had the letter 'V' painted on them, a symbol used by Russia's forces in Ukraine. Irina Zolotoreva, a 61-year-old who said her relatives had fought at Stalingrad, saw a parallel with Ukraine.

☆ Danish Crown says Chinese pork demand subdued, set to cut 550 jobs
▼ + stars: | 2023-01-30 | by ( Jacob Gronholt-Pedersen | ) www.reuters.com time to read: +2 min

Chinese pork demand is weak despite relaxation of the country's COVID policies as many people continue to avoid restaurants, said Jais Valeur, the head of Europe's biggest pork producer. "Right now I don't see any signs that Chinese imports are on the rise," Valeur told Reuters in an interview, adding that the Chinese market would probably normalize within six months. Slow Chinese demand has a knock-on effect on the European market. The outbreak of African swine fever in some European countries, including Germany, prompted producers in Spain to boost output aimed at the Chinese market. "All that meat is now flooding the European market, where consumers are now coping with inflation and are worried about the future," Valeur said.

☆ Russia's war in Ukraine backfired by uniting NATO, even as cracks emerged over nearly a year of fighting
▼ + stars: | 2023-01-30 | by ( Jake Epstein | John Haltiwanger | ) www.businessinsider.com time to read: +12 min

When Putin invaded Ukraine, he miscalculated the response from Western countries. NATO has been largely united in its response to Russia's war, consistently providing Kyiv with military aid. Russian President Vladimir Putin has effectively succeeded in remaking the Western bloc, Araud said, adding that "the Western alliance is back." After the Soviet Union collapsed, both Finland and Sweden became NATO partner countries but stopped short of pursuing full membership. Even under the intense pressure of war, the alliance is "holding the way that they have in the past," he said.

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