Exclusive: Hensoldt CEO on Germany's Defense 'Paradigm Shift'
German defense company Hensoldt has production capacity it can draw on "immediately", says CEO Oliver Dörre. Responding to incoming Chancellor Friedrich Merz' intentions to unlock funds for defense spending, Dörre adds "orders can come in very quickly." (Source: Bloomberg)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
23 minutes ago
- Bloomberg
Chanos Hits Back Strategy's Saylor, Calling Him a ‘Salesman'
Famed short-seller Jim Chanos denounced Strategy's Michael Saylor for using a misleading model to value his crypto-treasury firm and reemphasized his recommendation to short its shares and buy Bitcoin instead. 'Michael Saylor is a wonderful salesman,' Chanos said during a Bloomberg TV interview on Wednesday. While the executive chairman of Strategy argued his business should not be valued just on the basis of its Bitcoin holdings, Chanos called that 'financial gibberish.'
New York Post
28 minutes ago
- New York Post
GM doubles down on American manufacturing with $4B investment
General Motors is investing $4 billion in its U.S. plants over the next two years to boost the manufacturing of gas and electric vehicles. With the multibillion-dollar investment, the Michigan-based automaker will be able to assemble more than 2 million vehicles per year in the U.S. The latest investment comes just two weeks after the company announced it earmarked $888 million for its Tonawanda Propulsion plant near Buffalo, New York, to support production of its next-generation V-8 engine. Prior to the investments, the company was producing about 1.7 million vehicles in the U.S. It's just one of many automakers that have pledged to build vehicles in the U.S. and to support American jobs. 'We believe the future of transportation will be driven by American innovation and manufacturing expertise,' said GM CEO Mary Barra. The company's commitments, along with other heavy hitters in the industry, come as President Donald Trump imposes tariffs on imported vehicles to boost domestic auto manufacturing. In April, Trump imposed a 25% tariff on all imported passenger vehicles, followed by a separate 25% tariff on imported auto parts such as engines, transmissions, power-train parts and electrical components in May. 4 With the investment, GM will be able to assemble more than 2 million vehicles per year in the U.S. JHVEPhoto – 4 A worker installs an engine at the General Motors assembly plant in Fort Wayne, Indiana, US, on Tuesday, April 9, 2024. Bloomberg via Getty Images Barra recently backed the administration's automotive tariffs, saying they will pave the way for U.S. automakers to compete more fairly in the international market. There are currently 50 GM manufacturing plants and parts facilities in 19 states, including 11 vehicle assembly plants. Plants in Michigan, Kansas and Tennessee will expand finished vehicle production of several of GM's most popular vehicles. At the Orion Assembly plant in Michigan, the automaker will begin production of gas-powered full-size SUVs and light-duty pickup trucks in early 2027 to help meet continued strong demand. Meanwhile, GM's Factory ZERO in Detroit-Hamtramck, Michigan, will be the dedicated assembly location for the Chevrolet Silverado EV, GMC Sierra EV, Cadillac Esccalade IQ and GMC Hummer EV pickup and SUV, according to GM. 4 A worker on the trim assembly line at the General Motors assembly plant in Fort Wayne, Indiana, US, on Tuesday, April 9, 2024. Bloomberg via Getty Images 4 The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS At its Fairfax Assembly plant in Kansas City, Kansas, GM will produce the gas-powered Chevrolet Equinox beginning in mid-2027 after the company saw significant demand for the vehicle. Sales of the recently redesigned Equinox rose more than 30% year over year in the first quarter of 2025. The plant is on track to begin building the 2027 Chevrolet Bolt EV by the end of this year. Future investments in the plant will be geared toward GM's next generation of affordable EVs, according to GM. Meanwhile, GM will produce the gas-powered Chevrolet Blazer, the Cadillac Lyriq and Vistiq EVs, and the Cadillac XT5 at the Spring Hill Manufacturing plant in Tennessee. The company projected that its annual capital spending through 2027 will be in the range of $10 billion to $12 billion due to increased investment in the U.S., the prioritization of key programs and efficiency offsets.
Yahoo
35 minutes ago
- Yahoo
Senate GOP Seeks to Scale Back Food Aid Cuts in Trump Tax Bill
(Bloomberg) -- Senate Republicans plan to scale back cuts to federal food aid for the poor that their counterparts in the House used to help pay for Donald Trump's massive tax and spending package, a key senator said Wednesday. Trump's Military Parade Has Washington Bracing for Tanks and Weaponry Shuttered NY College Has Alumni Fighting Over Its Future NYC Renters Brace for Price Hikes After Broker-Fee Ban NY Long Island Rail Service Resumes After Grand Central Fire NYC Mayoral Candidates All Agree on Building More Housing. But Where? The Senate version of the tax legislation would exempt states that keep their food stamp payment error rates low from a new cost-shifting provision House Republican imposed requiring state governments to cover as much as a quarter of the cost of federal food stamps received by their residents, Senate Agriculture Chairman John Boozman said. Boozman, whose committee has jurisdiction over portions of the legislation covering federal food aid and farm subsidies, said the Senate version also would exempt parents of children younger than 10 years old from work requirements for food assistance. The House version of the tax bill imposes work requirements on parents once their children turn 7 years old. The House version of the legislation would require states to pay between 5% and 25% of the cost of benefits their residents receive through federal food stamps, formally known as the Supplemental Nutrition Assistance Program or SNAP. States with lower payment error rates would pay a smaller share of food stamp costs. The new requirements for SNAP will be delayed to 2028 to give states time to adjust, Boozman said. The Senate version would exempt states with a payment error rate below 6% from the cost-sharing requirement, Boozman said. Republicans on the Senate Agriculture Committee considered the House version too burdensome on states, the Arkansas senator said. New Grads Join Worst Entry-Level Job Market in Years The Spying Scandal Rocking the World of HR Software American Mid: Hampton Inn's Good-Enough Formula for World Domination The SEC Pinned Its Hack on a Few Hapless Day Traders. The Full Story Is Far More Troubling Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again ©2025 Bloomberg L.P. 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
