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Germany will need thousands more troops under new NATO targets, says defence minister

Germany will need thousands more troops under new NATO targets, says defence minister

Reuters2 days ago

BRUSSELS, June 5 (Reuters) - Germany will need around 50,000 to 60,000 additional active troops under the new NATO targets, German defence minister Boris Pistorius said on Thursday ahead of a NATO meeting in Brussels.
Pistorius added that NATO should make clear in its summit declaration that Russia is its greatest threat.

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Mercedes CEO Has a Trump Tariff Deal That Could Reshape US-EU Auto Trade
Mercedes CEO Has a Trump Tariff Deal That Could Reshape US-EU Auto Trade

Auto Blog

time2 hours ago

  • Auto Blog

Mercedes CEO Has a Trump Tariff Deal That Could Reshape US-EU Auto Trade

Ola Källenius's comments to Der Spiegel comes as German automakers like Mercedes, BMW and Volkswagen negotiate with the Trump Administration. Tariffs have the auto industry on watch Hours before an event in Michigan on April 29, President Trump signed two executive orders aimed at reducing the impact of trade tariffs on the automotive industry. One order prevents automakers, who face 25% tariffs on auto imports, from being subject to additional levies on materials. The other order allows automakers to apply for tariff relief, which will reduce a portion of the costs associated with their imported components. However, these benefits will be gradually phased out over the next two years. Ola Källenius, CEO of the Mercedes-Benz Group, and Winfried Kretschmann, Minister President of Baden-Württemberg, stand in the production area during a tour of the Mercedes-Benz passenger car plant in Rastatt. During a rally that night in Michigan, Trump described this move as providing 'a little flexibility' to the automotive industry, hoping to persuade automakers to produce their cars and components in the United States. He said, 'We gave them a little time before we slaughter them if they don't do this. They're going to make so much money. They're going to have so many jobs.' Despite the developments, German luxury car manufacturer Mercedes-Benz withdrew its earnings guidance for 2025 during the announcement of its Q1 results. This decision was driven by uncertainty regarding the potential impact of President Trump's tariffs on imported vehicles. The company also stated that if auto tariffs remained at their current levels, it would decrease profit margins by 300 basis points on cars and 100 basis points on vans. Mercedes CEO offers some guidance on a potential tariff solution In a new interview with German business publication Der Spiegel, Mercedes-Benz CEO Ola Källenius said that while he is looking at different scenarios, the kind of investments he has to make are ones that could last for decades, rather than ones made 'in response to a volatile situation' such as the current US-EU tariff situation that is currently unfolding. Recognizing that the current administration has the impression 'that we in Europe are closed to certain issues and only demand openness where we have strengths,' the CEO proposed a deal meant to balance its imports and exports. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. 2025 Mercedes-Benz G 580 EQS — Source: Mercedes-Benz In his proposal, Källenius would allow duty-free imports of U.S.-built cars into Europe in exchange for tariff waivers on an equal number of vehicles exported by EU automakers to the U.S., adding that it would alleviate and fulfill its desire to reindustrialize and become an attractive destination for companies to set up factories for exported goods. 'For every car that leaves the USA or Europe, a car from the other side comes in duty-free,' Källenius told Spiegel. 'We have put this idea to both sides, and it is a possible component of the negotiations between the USA and the EU.' Such a solution would work for a company like Mercedes-Benz. In the same interview, Källenius noted that Mercedes 'is a major producer' of cars in the United States, adding that the company builds and sells around 350,000 vehicles in the country, which could count for consideration in trade talks. 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Post Office compensation chief steps down after Sir Alan Bates raised 'serious concerns' about schemes
Post Office compensation chief steps down after Sir Alan Bates raised 'serious concerns' about schemes

Daily Mail​

time2 hours ago

  • Daily Mail​

Post Office compensation chief steps down after Sir Alan Bates raised 'serious concerns' about schemes

A Post Office boss who backed compensation for Horizon IT scandal victims has left his position as Sir Alan Bates raised 'serious concerns' about schemes. Leader of the Post Office's Remediation Unit, Simon Recaldin, is believed to have opted for voluntary redundancy and left his post this week. It comes as the first part of a public inquiry report into the controversy, analysing the compensation process as well as the affect on victims, is anticipated to be released in the coming weeks. More than 900 sub-postmasters were prosecuted between 1999 and 2015 after faulty accounting software made it look as though money was missing from their accounts. Hundreds are still waiting for payouts despite the previous government announcing that those who have had convictions quashed are eligible for £600,000. A Post Office spokesperson said yesterday Mr Recaldin's departure was a part of an 'organisational design exercise' across the firm. Now Joanne Hanley, who was previously a managing director and global head of client servicing, data and operations for Lloyds', is understood to have taken up a large portion of the former Post Office chief, according to The Telegraph. It comes as Post Office hero Sir Alan Bates accused the government of running a 'quasi kangaroo court' payout system for the scandal's victims last month. More recently, Sir Alan said he would prefer to see the compensation schemes thrown out rather the people working on them. 'We have got serious concerns about the transparency and the parity across the schemes,' he told The Telegraph. Last November, Mr Recaldin giving evidence to the inquiry, apologised after it was unearthed staff who were managing compensation claims had also been embroiled in prosecutions relating to the scandal. When queried about ex Post Office investigators he said: 'So my regret – and it is a genuine regret – is that when I came in, in January 2022, that I didn't do that conflicts check, check back on my inherited team, and challenge that.' It comes as the Sir Alan, who famously won his High Court battle with the Post Office in 2019 revealed that he had been handed a 'take it or leave it' compensation offer of less than half his original claim. Mr Bates, 70, said the first offer, made in January last year, was just one sixth of what he was asking for, adding that it rose to a third in the second offer. He has now been given a 'final take it or leave it offer' - which he said amounts to 49.2 per cent of his original claim. He, alongside 500 other sub-postmasters, will now have to lodge their bid for compensation via the Group Litigation order, managed by the Government. Bates, who led the sub-postmasters' campaign for justice, attacked the government for reneging on assurances given when the compensation schemes were set up The Post Office currently manages the Horizon Shortfall Scheme, which is seperate to the aforementioned. This scheme was organised for victims who have not been compensated but believe they experienced financial loses due to the IT scandal. A Post Office spokesman said: 'As part of the Post Office's commitment to deliver a 'new deal for postmasters', we have undertaken a review of our operating model to ensure we have the right structure in place. 'We have been in consultation with a number of colleagues from across the business, including the Remediation Unit. As a result of this Post Office-wide organisational design exercise, Simon Recaldin has left the business.'

Ukraine war briefing: We bomb their warplanes, they bomb our civilians, says foreign minister
Ukraine war briefing: We bomb their warplanes, they bomb our civilians, says foreign minister

The Guardian

time2 hours ago

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Ukraine war briefing: We bomb their warplanes, they bomb our civilians, says foreign minister

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