Bitpanda CEO says Donald Trump is forcing Europe to unite again
Eric Demuth, the CEO of Bitpanda, discusses his expectations for the new German government, the crypto industry in Europe, and more at the Tegernsee Summit in Bavaria.
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Thyssenkrupp to spin off 49% of defence division TKMS to shareholders
KIEL, Germany (Reuters) -Thyssenkrupp plans to spin off 49% of its defence division TKMS to shareholders as part of a listing later in the year, a board member of the German conglomerate said on Wednesday. The comments were made at a press event in Kiel, Germany, where Thyssenkrupp revealed the new branding for the division. TKMS has benefited from strong demand for military equipment that has helped boost its order book to a record 18 billion euros ($20.5 billion). Volkmar Dinstuhl, in charge of M&A and Thyssenkrupp's automotive division, said the conglomerate's shareholders "will hold a 49% stake as part of the spin-off", disclosing for the first time the size of the stake to be floated. Thyssenkrupp has so far only said it would keep a majority of TKMS, which makes frigates, submarines as well as sensor and mine-hunting technology, as part of the divestment which is planned to take place in 2025. The move continues Thyssenkrupp's strategy to sell stakes in its main business lines and turn into a holding company. Last year, the German firm sold a 20% stake in its steel division after listing its hydrogen business Thyssenkrupp Nucera in 2023. ($1 = 0.8797 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
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Large majority of Germans want tighter controls on arms exports to Israel
BERLIN (Reuters) -Some 73% of Germans want tighter controls on arms exports to Israel, including 30% who favour a total ban, a poll showed on Wednesday, reflecting growing public unease over the government's Israel policy. Since Hamas' October 7, 2023 attack on Israel, Germany has remained one of Israel's staunchest allies and its second largest arms supplier, despite Israel's increasing international isolation and rising criticism over its devastating war in Gaza. Between Hamas' attack and mid-May this year, Germany approved military equipment exports to Israel worth 485 million euros ($553.72 million), according to a response to a parliamentary inquiry published on Tuesday. The deliveries included firearms, ammunition, weapons parts, special equipment for the army and navy, electronic equipment, and special armoured vehicles. No lawsuit challenging German arms exports to Israel has yet succeeded, including a case brought by Nicaragua at the International Court of Justice. But Germany's stance shifted last week when new Chancellor Friedrich Merz criticised Israel's intensified airstrikes in Gaza, calling them no longer justified or comprehensible. His foreign minister, Johann Wadephul, warned of possible consequences - hinting at steps towards arms export sanctions. Three out of four Germans back Merz's criticism of Israeli actions in Gaza, according to a poll by public broadcaster ARD. The survey, conducted among 1,292 respondents on June 2-3, also found that 55% reject the idea that Germany bears a special responsibility to protect Israel due to the legacy of the Nazi-era Holocaust of European Jews. Thirteen percent of those surveyed believe Germany should stand unconditionally with Israel in the Middle East conflict, while 74% opposed such a stance. Additionally, 63% said Israel's military response in Gaza has gone too far, an increase of six percentage points since August, while 73% consider Israeli military actions unjustified. ($1 = 0.8759 euros)
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Ukraine allies pledge continued support despite US minister's absence
Defence ministers from the Ukraine Defence Contact Group pledged further support for Ukraine on Wednesday despite the absence of US Secretary of Defense Pete Hegseth from the meeting. The talks, once led by the United States, are chaired by German Defence Minister Boris Pistorius and UK Defence Secretary John Healey and aim to coordinate and raise further military support for Kiev. The format, also dubbed the Ramstein Group, comprises around 50 countries and was initiated by former US secretary of defense Lloyd Austin to help Ukraine defend itself from a full-scale Russian attack. Dutch Defence Minister Ruben Brekelmans announced a new support package for maritime security worth €400 million ($457 million). The package will include over 100 vessels, like patrol boats, transport boats, interceptors, special operations craft, over 50 sea drones, weapon systems, reserve parts and training, Brekelmans said. Ukraine's European allies are under increased pressure to step up aid to Ukraine after Washington suspended US military aid to Kiev and put its commitment to safeguarding Europe into question. Hegseth did not attend the meeting in Brussels, after Washington had previously made clear that it no longer wants to lead the pledging meetings. Instead, it aims to push Kiev and Moscow towards reaching a ceasefire agreement as quickly as possible. Other countries fear that such an agreement could come at Ukraine's expense. Pistorius said that so far there was no indication that Washington's decision to suspend military aid to Ukraine was final. "But the Europeans are ready, and Germany is ready to take responsibility," he stressed. "What we can compensate for remains to be seen. But we are making it very clear that we are determined not to leave Ukraine alone and to do what is necessary and possible to support Ukraine in its defence," Pistorius said. "The important thing is that we remain in discussion, and that's what we're doing," Pistorius said of Hegseth's absence. Brekelmans also suggested that the US position on military aid for Ukraine might change in the near future. "We see that Russia and [Russian President Vladimir] Putin are not willing to truly negotiate. And I think the United States is also starting to realize that," he said. For the time being, Ukraine's allies should increase pressure on Russia and keep supporting Ukraine, Brekelmans said.
