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Volkswagen delays decision on gigafactory in Eastern Europe, by Reuters

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© Reuters. FILE PHOTO: The Volkswagen logo is pictured at the 2022 New York International Auto Show, in Manhattan, New York City, US, April 13, 2022. REUTERS/Brendan McDiarmid

PRAGUE/FRANKFURT (Reuters) – Volkswagen has delayed its decision on where to build a giant electric car battery plant in Eastern Europe until after 2022, citing economic uncertainty and rising energy prices in the region.

“Volkswagen AG (OTC:) and its battery subsidiary Powerco are constantly evaluating suitable locations for its next giant plant in Europe,” the automaker said in an email Thursday.

“There is no pressure to act because we are taking more time to decide given the current circumstances,” she said. “At present, there is no impact on the planned start of construction or start of production.”

The European Union fears a mass exodus of investment to the United States in light of the generous subsidies for green energy provided by companies under the law to reduce inflation, just as energy prices in Europe recorded record levels with the continued lack of securing supplies for next year.

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Sweden’s Northvolt said in October that it may prioritize expanding battery plants in the United States over Europe in light of Europe’s energy landscape.

In an interview on Tuesday, Volkswagen (ETR:) brand chief Thomas Schaefer said energy prices in Europe make it difficult for shareholders to justify to shareholders why the automaker is building a battery plant there.

“If you have the option of building a battery plant in Europe, where electricity costs 15 cents a kilowatt-hour, but you can get it in China or America for 2-3 cents, we’re not in a position under financial corporation law to say we’ll do that,” Schaefer said. Here in solidarity.

“This is a hot topic and people often underestimate the complexity of it going forward here,” he added.

The Eastern European plant will be the fourth under former CEO Herbert Diess’ plan to build six such sites with partners across Europe by the end of the decade.

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The sites under study include the Czech Republic, Hungary, Poland and Slovakia.

Skoda Auto, Volkswagen’s Czech unit, said in October that it expected the parent company to make a decision on the site by the end of 2022.

However, Volkswagen’s new chief Oliver Blum is putting much of his predecessor’s legacy under the microscope, overhauling the company’s software strategy and reevaluating the factories that make the models.

It began looking for sites for its first large-scale factory outside Europe, in Canada.

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Red Flags That Your Spouse Is Hiding Money (And What To Do About It)

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Marriage can be hard enough without one spouse hiding money from the other.

When financial infidelity occurs in the form of “hidden cash,” a marriage or a live-forever relationship can easily be ended.

The truth is About 30% of American couples suffer from financial infidelity. Other evidence shows that more than 75% of couples describe the hidden money situation as negative and common 10% of these scenarios end in divorce.

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US judge orders Norwegian Cruise Line to pay $110m for use of Cuba port By Reuters

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© Reuters. Norwegian American Airlines cruise ship Marina arrives in Havana Bay, Cuba on March 9, 2017. REUTERS/Alexander Meneghini/File/File Photo

Written by Brian Ellsworth

MIAMI (Reuters) – Norwegian Shipping Line (NYSE) has to pay $110 million in compensation for the use of a port confiscated by the Cuban government in 1960, a US judge said Friday, marking a significant milestone for Cuban Americans. Who are seeking reparations for the Cold War era. Assets confiscation.

The decision by US District Judge Beth Bloom in Miami follows her decision in March that use of the Havana Cruise Terminal constituted smuggling of forfeited property belonging to the plaintiff, Delaware-registered Havana Docks Corp.

The decision read: “The judgment is made in favor of Plaintiff Havana Docks Corporation and against Norwegian Cruise Line Holdings, Ltd.”

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“The plaintiff was awarded $109,848,747.87 in damages,” it says, adding that the Norwegian must also pay an additional $3 million in legal fees and costs.

Norwegian Cruise Line did not immediately respond to a request for comment.

Cuban President Miguel Diaz-Canel has sharply criticized the Helms-Burton Act, calling it an extraterritorial violation of international law.

Havana Docks also sued Carnival Cruise Lines (NYSE: ), Royal Caribbean (NYSE:) and MSC under the Helms-Burton Act, which allows US citizens to sue over the use of property seized in Cuba after 1959.

The ruling could fuel more lawsuits by Cuban exiles pursuing claims, worth $2 billion, according to one estimate, over asset seizures under late Cuban leader Fidel Castro.

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It may also serve as a reminder to multinational companies of the complexities that can come with doing business in Cuba.

In 2016, US cruise ships began traveling to Cuba for the first time in decades after a détente negotiated by former President Barack Obama eased some provisions of a Cold War US embargo.

But the Trump administration in 2019 ordered a halt to all such cruises amid efforts to pressure Cuba over its support for Venezuelan President Nicolas Maduro, Washington’s ideological foe.

The Trump administration has also allowed US citizens to sue third parties for using property seized by Cuban authorities, a provision of the Helms-Burton Act that every previous president has waived since the law was passed in 1996.

Havana Docs says Cuba, which has been under a US trade embargo for decades, has never compensated it for taking the drug.

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The four cruise lines sued in 2019 in the US District Court for the Southern District of Florida. Bloom in March held the companies liable for damages under the Helms-Burton Act, also known as the Libertad Act.

According to the US-Cuban Economic and Trade Council, a nonprofit organization that provides information on relations between the two countries, 5,913 validated claims related to property seized in Cuba represent an estimated liability of nearly $2 billion.

Forty-four lawsuits have been filed under Title III of the Helms-Burton Act, the organization says.

“For the current plaintiffs of Cuban descent, (the decision) will give them a moment of relief,” said John Cavulich, the group’s president. “It will give them a moment to say ‘You can run but you can’t hide,’” Cavulich said.

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Is a Royal Caribbean or Carnival beverage package worth it?

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An all-inclusive beverage package that gives you access to beer, wine, liquor, bottled water, soda, specialty coffee, and even shakes/juices may cost more than your cruise fare.

This is especially true right now when many cruise cabins are being sold at discounted prices while the drinks package prices have gone up.

Deciding whether to purchase a drink package is a challenge because you have to estimate whether you will be drinking enough to cover the cost. Or, more importantly, whether you’d spend more if you decided not to purchase a drink package.



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