Watch CNBC's full interview with BaFin President Mark Branson
Monday - Friday, 08:00 - 11:00 CET | 14:00 - 17:00 HK/SG Squawk Box Europe Podcast
Mark Branson, president of German financial watchdog BaFin, discusses market risks and regulation at the regulator's annual press conference.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
32 minutes ago
- Miami Herald
While Rivals Falter, Hyundai Has a Hidden Advantage
Hyundai has reportedly stockpiled a significant supply of rare earths used for an array of car parts as other automakers grapple with China's export restrictions on the elements. China mines 70% of the world's rare earth materials but processes and refines 90% of them. Vehicle parts such as automatic transmissions, throttle bodies, cameras, power steering, speakers, seat belts, lights, and more use magnets primarily made from rare earth materials. According to an unnamed source who attended a private Hyundai investor call and told Reuters about it, Hyundai's rare earth stockpile can last about a year, eliminating concerns of a near-term supply shortage. China's decision to restrict rare earth and related magnet exports dates back to April, when the country curbed its exports of dysprosium, gadolinium, scandium, terbium, samarium, yttrium, and lutetium rare earth elements by introducing a new licensing requirement. Hyundai reportedly increased its rare earth stockpile recently when the country relaxed its export restrictions, but declined to comment on whether it and its sister company, Kia, personally formed the reserve or if they sourced it from suppliers. Ford and BMW have already been impacted by the rare earth shortage. In May, Ford halted production on its Explorer SUV at its Chicago plant for a week. BMW said parts of its supplier network were disrupted, but its plants ran normally. Last week, China issued rare earth licenses to suppliers of the top 3 U.S. automakers, including General Motors (GM), Ford, and Stellantis. Some of the licenses are valid for six months. BMW and GM are working on motors with low-to-zero rare-earth content to avoid situations like this, but scaling production while managing costs remains challenging. "We must reduce our dependencies on all countries, particularly on a number of countries like China, on which we are more than 100% dependent," European Union Commissioner for Industrial Strategy Stephane Sejourne said, according to Reuters. Mathias Miedreich, board member for electrified propulsion at German automotive supplier ZF Friedrichshafen, expressed worries earlier this month that the rare earths bottleneck could resemble the auto industry's computer chip shortage during the COVID-19 pandemic, which subtracted millions of units from manufacturers' production. On Wednesday, President Trump said: "Our deal with China is done, subject to final approval with President Xi and me," adding that China will supply full magnets and any necessary rare earths upfront. The deal has been described as a framework agreement, but auto industry players in India have urged the country's government to accelerate Chinese approval of a rare earths deal. According to ET Times, Indian auto executives are awaiting confirmation for a meeting with China. The U.S. auto industry could encounter future troubles with China's rare earth exports, even with the recently announced framework, since China dominates the elements' global supply chain. GM appears to be in one of the best positions to avoid future rare earth export disruptions beyond the immediate term since it formed strategic alliances with two rare earth mineral processing companies four years ago for domestic rare earth sourcing and processing. The alliance's processed rare earth minerals were initially planned for GM's electric cars, and while they're not yet active, they could provide much-needed diversification in the supply chain. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Yahoo
an hour ago
- Yahoo
Ukraine's Zelensky hopes to push Trump on US Russia sanctions at G7
Ukrainian President Volodymyr Zelensky said Thursday he hoped to press his US counterpart Donald Trump at the G7 summit this weekend to step up sanctions against Russia, as peace talks between the warring sides stall. In two rounds of negotiations in Istanbul, Moscow and Kyiv have so far only agreed large-scale prisoner exchanges, with Russia rejecting calls to halt its three-year invasion. Trump has urged both sides to strike a peace deal and shown increasing frustration with both Zelensky and Russian President Vladimir Putin for not having found a way to end the war. He has at times threatened new sanctions on Russia, which has ramped up its aerial attacks during the talks, but has so far failed to follow through. "I count on having a conversation" with Trump at the G7, Zelensky said at a press conference in Kyiv. "This sanctions package is very important... the final decision is still in the White House, it depends on the President of the United States," he added. US Republican Senator Lindsey Graham, a close Trump ally, is pushing what he calls a bipartisan "bone-breaking" bill to introduce a 500-percent tariff on countries buying Russian oil and gas, mostly targeting China and India. - 'Appeasement' - Tens of thousands have been killed since Russia invaded in February 2022, with millions forced to flee their homes as towns and cities across eastern Ukraine have been flattened by heavy bombardments. Trump's return to the White House has upended the West's vital aid for Kyiv. Europe has been left scrambling to see how it could fill any gap if he decides to pull US military, financial and intelligence support. German Defence Minister Boris Pistorius appeared to deliver a blow to those plans during a visit to Kyiv on Thursday. Speaking alongside Zelensky, he said Berlin was not planning to deliver Taurus long-range missiles to Ukraine. "Asked whether we are considering this, my answer is no," he told a reporter of the possibility of sending the missiles, which could allow Ukraine to strike deep into Russian territory. Instead, Pistorius announced 1.9 billion euros ($2.2 billion) in additional military aid. The setback came just after Ukrainian Foreign Minister Andriy Sybiga told a security conference in Rome that the "diplomacy of appeasement does not work with Russia" -- a veiled reference to Trump's soft approach towards Putin. "We want to end this war this year," he said. Russia has been advancing on the battlefield for months and launched record drone strikes at Ukraine in recent days. Two civilians were killed in the frontline Donetsk region in a drone strike on Thursday, Ukrainian officials said. Kyiv has responded to Russian bombardments with its own wave of drone strikes. In Russia's Belgorod region bordering Ukraine, a two-year-old child was killed following one such attack, Governor Vyacheslav Gladkov said on Telegram. - POW swap - The warring sides completed the latest stage of a prisoner swap on Thursday, freeing wounded soldiers in line with a deal struck at talks in Istanbul. "Today, warriors of our Armed Forces, National Guard, and Border Guard Service are back home," Zelensky said on social media. The two sides agreed to each free more than 1,000 prisoners of war -- all wounded or under the age of 25 -- and return the bodies of killed soldiers. Zelensky published pictures of the Ukrainian servicemen, all with freshly shaved heads, draped in national flags and smiling as they made phone calls and hugged people welcoming them at the border. "They all require medical treatment," as they were "severely wounded and seriously ill", Zelensky added. At the exchange, AFP reporters saw dozens of people -- mostly women -- waiting with pictures of their captured or missing relatives, hoping the freed soldiers could offer news about them. Russian state media showed Moscow's returned troops in uniforms chanting "Russia, Russia" with national flags around their shoulders. Russia later accused Ukraine of not being "ready to conduct exchanges" on a daily basis, as it said the two sides had agreed at the Istanbul talks. Kyiv said further swaps would take place in the coming days. bur-mmp-asy/jc/phz
Yahoo
an hour ago
- Yahoo
COVID-19 Vaccine Maker BioNTech Buys CureVac as It Aims for Cancer Treatments
BioNTech is buying fellow German firm CureVac for approximately $1.25 billion as the COVID-19 vaccine maker moves to expand into cancer treatments. For each CureVac share they own, investors will get about $5.46 worth of BioNTech American Depositary Shares. CureVac is developing cancer medicines using the same mRNA technology that BioNTech uses for its COVID-19 (CVAC) shares skyrocketed 37% Thursday when the biotech company agreed to be bought by COVID-19 vaccine maker and fellow German firm BioNTech (BNTX) in an all-stock deal valued at about $1.25 billion. The purchase boosts BioNTech's move into producing new cancer treatments. CureVac said its investors will receive approximately $5.46 worth of BioNTech American Depositary Shares for each CureVac share they own. That a 34% premium to yesterday's closing price. The company noted it is "developing a novel class of transformative medicines in oncology and infectious diseases based on messenger ribonucleic acid ("mRNA")." BioNTech's COVID-19 shot is also mRNA-based. BioNTech co-founder and CEO Dr. Ugur Sahin said the deal is aimed at "advancing the development of innovative and transformative cancer treatments and establishing new standards of care for various types of cancer in the coming years." The transaction is expected to close this year and would see CureVac's operating subsidiary become a wholly owned subsidiary of BioNTech. Shares of CureVac soared to their highest level since December 2023. U.S.-listed shares of BioNTech were little changed and remain down nearly 8% year-to-date. Read the original article on Investopedia 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
