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German Industry Calls for More Support to Diversify Outside China By Reuters

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© Reuters. FILE PHOTO: The German and Chinese national flags flutter in Tiananmen Square before visiting German Chancellor Angela Merkel in Beijing, China, May 23, 2018. REUTERS/Thomas Peter/File Photo

BERLIN (Reuters) – One of Germany’s main industry lobby groups on Monday called for more support for industry to diversify trade outside China, as the government prepares new policies aimed at reducing the economy’s dependence on Beijing.

The Confederation of German Chambers of Industry and Commerce (DIHK) said companies faced an administrative burden from planned measures such as stress tests and more scrutiny of investments in China, outlined in a draft document seen by Reuters.

“Everything we’ve heard so far about the German government’s strategy towards China is very defensive,” said Volker Trier, DIHK’s head of foreign trade.

“There is a lack of a strategy to encourage building sustainable economic relations, particularly in the broader Asia-Pacific region, to avoid unilateral dependencies.”

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Asked about the draft document, China’s Foreign Ministry in Beijing told Reuters that it hopes Germany will develop its relations in an “objective and rational manner,” and adopt a policy that benefits the people of the two countries.

The Russian war in Ukraine, which German officials say has revealed that the economy is highly dependent on Russian energy, has prompted a re-examination of relations with Beijing, which is close to German companies, especially in manufacturing.

Just four German companies – automakers Mercedes-Benz, BMW, Volkswagen (ETR:) and chemical giant BASF – accounted for a third of all European investment in China in 2018-2021, according to a study by Rhodium Group.

The State Department document, which still has to be approved by other ministries, said key industries including automobiles and chemicals should avoid risks to businesses and the state from investing heavily in China.

A Mercedes-Benz spokesperson declined to comment on the specific policies in the document but said the company sees it as “our mission to work on greater diversification of our supply chains.”

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“We need an active and flexible industrial policy and strategy in Europe in terms of raw materials, batteries or semiconductors.”

A BMW spokesperson also declined to comment on the details of the document but said the group is investing heavily in Europe and the Americas as well as in China, and will continue to pursue the goal of opening up new sales markets in the future.

Volkswagen and BASF declined to comment.

Diversified group Merck KGaA, whose investments in the region include a laboratory equipment production site in Wuxi near the commercial hub of Shanghai, said the facilities in China will primarily serve customers in the country.

In response to a question to comment on Germany’s plans, she said, “We need a constructive dialogue with the aim of strengthening national pluralism in the face of building the international bloc.”

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Taco Bell has an answer for Chipotle’s most beloved menu item

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Chipotle (CMG) – Get a free report It quietly grabbed the number one spot among Mexican fast food chains using a completely different recipe (so to speak) than its main competitor Yum Brands. (Yum) – Get a free report Taco Bell. Basically, the newer player in the quick service/fast food/quick casual space has decided that prices aren’t going to be a driving factor for it. Instead, Chipotle has built its menu around the idea of ​​using more natural food than well-sourced food.

This was a successful plan until the company was created. The Coli scandal dates back in 2016 as this type of chain fell victim to its own marketing. Fresh foods come with higher risks, and when people get sick at Chipotle, a lot of other fast food chains point to less fresh, processed foods as a safe option.



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Ben & Jerry’s does not have authority to sue over sale of Israeli ice cream By Reuters

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© Reuters. FILE PHOTO: Ben & Jerry’s, a brand of Unilever, is displayed in a store in Manhattan, New York City, US, March 24, 2022. REUTERS/Andrew Kelly

Written by Jessica DiNapoli and Jonathan Stempel

NEW YORK (Reuters) – Unilever (NYSE: plc) has asked a U.S. judge to dismiss a Ben & Jerry’s lawsuit over the sale of the Israeli ice cream maker, saying the subsidiary’s “insistence on taking sides” in the conflict Palestinian Israeli gives its board of directors no authority to stop or even sue the sale.

In a statement Friday afternoon in Manhattan federal court, Unilever said the Ben & Jerry’s board “is no ordinary board.”

In the filings, she said the board has some responsibility to maintain its “social mission” and protect the brand under a shareholder agreement from 2000, when Unilever’s bought Ben & Jerry’s. But Unilever said the board could not sue.

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Unilever also said that the board’s “recent insistence on taking sides in the Israeli-Palestinian conflict has created an intolerable situation” for both sides.

Ben & Jerry’s could not immediately be reached for comment.

The maker of Cherry Garcia and Chubby Hubby ice creams sued Unilever in July to prevent the sale of its businesses in Israel and the occupied West Bank to local licensee Avi Zenger.

Ben & Jerry’s products have been on sale in Israel for more than three decades, but the company said last year that West Bank sales were not in line with its values.

In August, a judge denied Ben & Jerry’s bid to stop those sales outright.

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Last month, Ben & Jerry’s board of directors gave up selling Zinger ice cream, saying its products were “not to be confused with products” made by Ben & Jerry’s.

“Selling products bearing the Ben & Jerry’s insignia in the Occupied Palestinian Territories is contrary to our values,” the council said.

In its motion to dismiss the lawsuit, Unilever also said that Ben & Jerry’s had waited too long to claim that its trademark rights were “taken away” more than 20 years ago, and that the accusations behind the claim are a public matter.

(This story has been reworded to fix a typo in paragraph 1)

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Twitter users are running Musk Over Kanye West

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Even Elon Musk has his limits.

Musk, Tesla (TSLA) – Get a free report The CEO, Twitter’s latest owner and self-described free-spirited free-lancer, has confirmed the microblogging site to be “an actual town square” ever since he walked through the front door with sink in hand.

“It’s mad!” The richest man in the world chirp On November 25 “I’m just fighting for free speech in America.”

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In his quest, Musk recently Welcome back Donald Trump, ending a 22-month ban on the former Republican president.



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