Latest news with #Krupp
Yahoo
6 hours ago
- Business
- Yahoo
Former First-Rounder Rasmus Kupari Signs In Switzerland
Finnish forward Rasmus Kupari, 25, has signed a two-year contract with HC Lugano, the National League club announced on Tuesday. 'I think Lugano is the ideal place to take the next step in my career,' Kupari is quoted. 'I want to be a leader on and off the ice and bring my game to the entire rink, both defensively and offensively. I think my most important skill is skating.' Advertisement 'Rasmus has played his last five seasons in the NHL and AHL,' said Lugano GM Janick Steinmann. 'He's a first-line forward, a good skater with important qualities in every area of the rink. In North America, he has often been assigned more defensive roles, but with us he will be able to assert his skills as a two-ways player. I am convinced that his qualities adapt very well to the National League and he will also have a strong impact offensively. I am extremely happy to have him with us in Lugano and to be able to observe all his potential.' Kupari hails from Kotka, Finland, and turned pro with the Kärpät club in Oulu at age 17. He recorded 52 points in 104 Liiga regular-season and playoff games. Kupari was picked 20th overall by the Los Angeles Kings in the 2018 NHL Entry Draft. Despite this, he never played more than 66 NHL games in a season or recorded more than 15 points. Between 2020 and 2025, Kupari played in 217 regular-season games, scoring 14 goals and adding 24 assists for 38 points with 52 penalty minutes for the Kings and Winnipeg Jets. He also played 11 playoff games for Los Angeles, where he was held without a point. Internationally, Kupari played in three IIHF World Junior Championships, playing a large part in Finland's gold-medal win in 2019 with five points in seven games and scoring the winning goal in the final, but getting injured in the first game of the 2020 tournament. Advertisement Kupari joins a Lugano team that is trying to rebuild its roster after missing the playoffs last season. Photo © Bob Kupbens-Imagn Images Lugano Dismisses Coach Krupp And Several Noteworthy Players Lugano Dismisses Coach Krupp And Several Noteworthy Players Just days after the team saved its position in Switzerland's National League by defeating HC Ajoie in a playout series, HC Lugano parted ways with head coach Uwe Krupp and several notable players, including goaltender Adam Húska, defenseman Valtteri Pulli, and forwards Mark Arcobello, Daniel Carr, Radim Zohorna and Aleksi Peltonen.
Epoch Times
27-05-2025
- Business
- Epoch Times
Thyssenkrupp, Owner of Germany's Iconic Steelmaker, to Become Holding Company After 200 Years
The owner of Germany's largest steelmaker, Thyssenkrupp, said on Monday it aims to turn into a holding company after two centuries as a manufacturer. The company, once a symbol of German manufacturing might, has struggled in recent years with high costs, tariffs, cheaper Asian competitors, and difficulties around the steel industry's green transition. On May 26, Thyssenkrupp said it is planning to Thyssenkrupp is the result of a 1999 merger between Germany's oldest industrial giants Krupp, which was founded in 1811, and Thyssen, which was founded in 1891. The company now says the aim is to become a holding company, a setup that does not produce goods or services itself but instead owns shares in other companies, with shareholdings in independent business areas. 'Such a step will enable us to leverage the full value creation potential of the businesses and use their independence in a targeted way for investments, market opportunities, and further growth,' Thyssenkrupp CEO Miguel Lopez said. Related Stories 5/22/2025 12/21/2024 Earlier in the month, Thyssenkrupp said that it planned to cut 11,000 of its 27,000 jobs—or around 40 percent of its steel workforce—over the coming years. On May 15, Thyssenkrupp's steel division—of which Czech billionaire Daniel Kretinsky owns 20 percent and wants to By 2045 at the latest, steel production in Germany must produce 'almost zero' emissions due to German laws aimed at making the entire economy greenhouse-gas neutral. Authorities want However, earlier in the month, Thyssenkrupp said that it can't guarantee that its 3-billion-euro ($3.3 billion) 'green steel site,' the company's single biggest investment, will be economical. Lopez said that his expectation was that sufficient amounts of affordable green hydrogen would be available at the time of completion. However, now he says those assumptions were too ambitious. 'Under the current conditions, there is no guarantee that we will be able to operate the plant economically in the foreseeable future,' Lopez said. 'If this does not change, there is a risk that Duisburg will be home to one of the world's most modern steel production plants, without an adequate supply of the desired green hydrogen.' The co-leader of the populist Alternative for Germany (AfD) party, which came a close second in recent federal elections, said the breakup of Thyssenkrupp 'symbolizes the decline of our economy.' 'The once proud steel company is representative of many German companies that are running out of steam due to high costs,' Alice Weidel The United States maintains a 25 percent tariff on EU steel and aluminum imports as well as reciprocal tariffs of 10 percent on almost all other goods. The implementation of a further Germany, Europe's largest economy, is known for its skilled labor force and high-end exports. According to a The country has been struggling with the loss of affordable Russian gas, historic Volkswagen plant closures, and fierce competition from cheaper Chinese electric vehicles. The German government's deficit is set to remain elevated, and the government debt ratio is expected to increase to 64.7 percent of gross domestic product in 2026. Reuters and Guy Birchall contributed to this report.
Bloomberg
26-05-2025
- Business
- Bloomberg
Thyssenkrupp Plans to End Conglomerate Era in Bid for Turnaround
Thyssenkrupp AG plans to transform itself into a holding company with majority stakes in standalone business units, marking the end of its era as a fully integrated industrial conglomerate. The German engineering group will spin off its materials services trading arm and its automotive-technology division, building on previously announced plans to sell or partially sell its steelmaking and naval shipbuilding operations, the company said Monday. The shift caps a drawn-out breakup of a company that traces its roots to Germany's Krupp steel and armaments empire.
CNN
08-05-2025
- Business
- CNN
It had become a shabby relic. Now one of Europe's grandest hotels is being restored to its former glory
Commanding a prime view of the River Danube, Hotel Gellért has long been a beacon of architectural splendor and pride in Budapest. Since its grand debut in 1918, this Art Nouveau landmark has hosted royals, artists and dignitaries, carving out a lasting place in the story of a city that rose to become one of Europe's most impressive capitals before enforced decline under decades of communism. The Gellért bore witness to all this turbulent history, but the years clearly took their toll. After decades of continuous operation, the Gellért closed in 2019, its opulence faded, and interiors worn. And for the past few years, although the beautiful — if also somewhat faded — spa next to the hotel has continued to draw in visitors as one of Budapest's top thermal bath houses, the Hotel Gellért has been shuttered. Its once-bustling lobby left cluttered with old furniture, viewable only through dusty windows. Now, more than a century after it first opened, the iconic hotel is undergoing a full renaissance. Set to reopen in 2027 under the prestigious Mandarin Oriental Hotel Group, the new Gellért promises to fuse its rich past with modern luxury. Designed by Hungarian architects Ármin Hegedűs, Artúr Sebestyén and Izidor Sterk, the hotel broke new ground when it opened with features far ahead of its time: in-room telephones, piped thermal water and even carbonated taps. Guests could pay in their native currency and enjoy the first airport transfer service in Hungary — small details that established big benchmarks in early 20th-century hospitality. The hotel's thermal baths were a huge draw, attracting clientele from near and far. By the 1930s, the hotel had become the heartbeat of Budapest's high society. Over the years, figures like the Maharaja of Kapurthala — one of India's last dynastic royal rulers — New York Mayor Jimmy Walker and Shah Reza Pahlavi of Iran passed through its storied halls. Former President Richard Nixon was a guest of the hotel, and Hollywood greats such as Jane Fonda sought privacy within its walls. Violinist Yehudi Menuhin found inspiration in its calm. Elizabeth Taylor and Richard Burton famously stayed at the Gellért while filming in Budapest. Burton is said to have presented her with the famous Krupp diamond in the hotel. The Gellért's allure has even been echoed in cinema, with elements of Wes Anderson's 'The Grand Budapest Hotel' seemingly modeled after its whimsical charm. Anderson's fictional hotel also shared a similar fate to the Gellért, with the glamor of its pre-war years fading in later life — in this case a grim 1970s Soviet-style functionality. Thankfully, the real-life hotel is on the brink of a renaissance. Recognizing its cultural significance, Hungarian private equity investors BDPST Group acquired the property in 2022, launching an ambitious restoration in October 2024. Guided by strict heritage preservation principles, the team behind the revival seeks to restore the hotel's place in the city. 'We often think of historic buildings as part of our lives — but with the Gellért, I see it differently. I believe we are the ones who briefly become part of its life,' says Zoltán Kecskeméthy, managing director of BDPST Real Estate Development. For Kecskeméthy, the Gellért represents a national treasure — witness to wars, revolutions, and generations of Hungarian life. 'It's not just a hotel,' he continues. 'It's a symbol.' 'We strive to make international guests feel they are walking into a story much bigger than themselves — and for locals to once again feel that this building is theirs. If we do our job well, we'll pass it on with even more meaning than we found it.' The restored hotel will offer 134 rooms, including 34 suites, crafted to honor tradition while meeting modern standards. Signature spaces such as the lobby, the Danube Room and the Gobelin Room are being meticulously restored using archival photographs and original blueprints. British design studio Alexander Waterworth Interiors is in charge of the interiors, while Hungarian firm Archikon Architects oversees the architectural work. Recent demolition inside the Gobelin Hall has revealed hidden original features long obscured. Beneath layers of green adhesive paint, faded red decorative motifs have resurfaced. A coffered ceiling — once covered by a second Communist-era suspended ceiling — has been carefully uncovered, revealing the craftsmanship of the past. These discoveries are guiding the restoration team as they work to return the space to its 1918 splendor. While the hotel's bones are historic, the team renovating the hotel recognizes its soul is forward-looking. 'We believe that innovation is part of the Gellért's DNA,' Kecskeméthy explains. 'In its prime, the hotel was a pioneer in several aspects: certain guests arrived by hydroplane from Vienna. Every room had a telephone — a rarity at the time. Thermal water was piped directly into some rooms. Selected bathrooms even had carbonated water — these features made headlines internationally in an instant. And the spa featured a wave pool, decades ahead of its time.' That spirit continues today, with new additions such as a rooftop sky bar — a contemporary flourish in keeping with the hotel's original daring design. 'We wish to channel the spirit of progress that made the Gellért exceptional to begin with,' he adds. 'Respecting its history and traditions, we want it to be that again — in a 21st-century way.' The transformation reaches beyond brick and mortar. As Gábor Zsigmond, director-general of the Hungarian National Museum, notes, 'The Gellért has always been a symbol of Budapest — a prominent venue for social and cultural life, luxury, healing and even gastronomy.' From interwar gala evenings to milestone diplomatic gatherings, the hotel has been a stage for Hungarian history. Architecturally, it remains one of the most distinctive examples of Hungarian Art Nouveau, layered with Oriental and modern flourishes that make it unlike any other in the city. 'In the past, it was best known for its social events, luxury and illustrious visitors,' Zsigmond adds. 'In the future, as part of the Mandarin Oriental chain, it is expected to continue emphasizing its historical and cultural heritage, complemented by modern luxury services, making it attractive to new generations as well.' The revival respects the idiosyncrasies of the past. While the historic Gellért Baths, adjacent to the hotel, will remain under city management, a new on-site spa will offer Mandarin Oriental's signature wellness experiences. The culinary offerings will blend past and present, with restaurants designed to delight both locals and international guests. Kecskeméthy is especially passionate about restoring the hotel's local relevance. 'We want our restaurants to be places locals love, just how they were in the past. This hotel was once at the heart of Budapest's social life. We wish that feeling back.' The partnership with Mandarin Oriental is seen as key. 'They don't impose a standard style. Instead, they cooperate, in order to create something unique,' says Kecskeméthy. 'They care about the culture, the partners, and the place — and that's especially important when developing a spa concept in a hotel like this.' Every decision, from treatments to design, is made with longevity in mind. The renovation team is evaluating 'the treatments, experiences, and design' that will feel both timeless when the hotel re-opens but also innovative in the years to come. As the Gellért prepares for its next chapter, those behind its revival are proud to re-imagine a cornerstone of Budapest's past for the future, ready to welcome the world once more with grace, grandeur and a touch of daring.
CNN
08-05-2025
- Business
- CNN
It had become a shabby relic. Now one of Europe's grandest hotels is being restored to its former glory
Commanding a prime view of the River Danube, Hotel Gellért has long been a beacon of architectural splendor and pride in Budapest. Since its grand debut in 1918, this Art Nouveau landmark has hosted royals, artists and dignitaries, carving out a lasting place in the story of a city that rose to become one of Europe's most impressive capitals before enforced decline under decades of communism. The Gellért bore witness to all this turbulent history, but the years clearly took their toll. After decades of continuous operation, the Gellért closed in 2019, its opulence faded, and interiors worn. And for the past few years, although the beautiful — if also somewhat faded — spa next to the hotel has continued to draw in visitors as one of Budapest's top thermal bath houses, the Hotel Gellért has been shuttered. Its once-bustling lobby left cluttered with old furniture, viewable only through dusty windows. Now, more than a century after it first opened, the iconic hotel is undergoing a full renaissance. Set to reopen in 2027 under the prestigious Mandarin Oriental Hotel Group, the new Gellért promises to fuse its rich past with modern luxury. Designed by Hungarian architects Ármin Hegedűs, Artúr Sebestyén and Izidor Sterk, the hotel broke new ground when it opened with features far ahead of its time: in-room telephones, piped thermal water and even carbonated taps. Guests could pay in their native currency and enjoy the first airport transfer service in Hungary — small details that established big benchmarks in early 20th-century hospitality. The hotel's thermal baths were a huge draw, attracting clientele from near and far. By the 1930s, the hotel had become the heartbeat of Budapest's high society. Over the years, figures like the Maharaja of Kapurthala — one of India's last dynastic royal rulers — New York Mayor Jimmy Walker and Shah Reza Pahlavi of Iran passed through its storied halls. Former President Richard Nixon was a guest of the hotel, and Hollywood greats such as Jane Fonda sought privacy within its walls. Violinist Yehudi Menuhin found inspiration in its calm. Elizabeth Taylor and Richard Burton famously stayed at the Gellért while filming in Budapest. Burton is said to have presented her with the famous Krupp diamond in the hotel. The Gellért's allure has even been echoed in cinema, with elements of Wes Anderson's 'The Grand Budapest Hotel' seemingly modeled after its whimsical charm. Anderson's fictional hotel also shared a similar fate to the Gellért, with the glamor of its pre-war years fading in later life — in this case a grim 1970s Soviet-style functionality. Thankfully, the real-life hotel is on the brink of a renaissance. Recognizing its cultural significance, Hungarian private equity investors BDPST Group acquired the property in 2022, launching an ambitious restoration in October 2024. Guided by strict heritage preservation principles, the team behind the revival seeks to restore the hotel's place in the city. 'We often think of historic buildings as part of our lives — but with the Gellért, I see it differently. I believe we are the ones who briefly become part of its life,' says Zoltán Kecskeméthy, managing director of BDPST Real Estate Development. For Kecskeméthy, the Gellért represents a national treasure — witness to wars, revolutions, and generations of Hungarian life. 'It's not just a hotel,' he continues. 'It's a symbol.' 'We strive to make international guests feel they are walking into a story much bigger than themselves — and for locals to once again feel that this building is theirs. If we do our job well, we'll pass it on with even more meaning than we found it.' The restored hotel will offer 134 rooms, including 34 suites, crafted to honor tradition while meeting modern standards. Signature spaces such as the lobby, the Danube Room and the Gobelin Room are being meticulously restored using archival photographs and original blueprints. British design studio Alexander Waterworth Interiors is in charge of the interiors, while Hungarian firm Archikon Architects oversees the architectural work. Recent demolition inside the Gobelin Hall has revealed hidden original features long obscured. Beneath layers of green adhesive paint, faded red decorative motifs have resurfaced. A coffered ceiling — once covered by a second Communist-era suspended ceiling — has been carefully uncovered, revealing the craftsmanship of the past. These discoveries are guiding the restoration team as they work to return the space to its 1918 splendor. While the hotel's bones are historic, the team renovating the hotel recognizes its soul is forward-looking. 'We believe that innovation is part of the Gellért's DNA,' Kecskeméthy explains. 'In its prime, the hotel was a pioneer in several aspects: certain guests arrived by hydroplane from Vienna. Every room had a telephone — a rarity at the time. Thermal water was piped directly into some rooms. Selected bathrooms even had carbonated water — these features made headlines internationally in an instant. And the spa featured a wave pool, decades ahead of its time.' That spirit continues today, with new additions such as a rooftop sky bar — a contemporary flourish in keeping with the hotel's original daring design. 'We wish to channel the spirit of progress that made the Gellért exceptional to begin with,' he adds. 'Respecting its history and traditions, we want it to be that again — in a 21st-century way.' The transformation reaches beyond brick and mortar. As Gábor Zsigmond, director-general of the Hungarian National Museum, notes, 'The Gellért has always been a symbol of Budapest — a prominent venue for social and cultural life, luxury, healing and even gastronomy.' From interwar gala evenings to milestone diplomatic gatherings, the hotel has been a stage for Hungarian history. Architecturally, it remains one of the most distinctive examples of Hungarian Art Nouveau, layered with Oriental and modern flourishes that make it unlike any other in the city. 'In the past, it was best known for its social events, luxury and illustrious visitors,' Zsigmond adds. 'In the future, as part of the Mandarin Oriental chain, it is expected to continue emphasizing its historical and cultural heritage, complemented by modern luxury services, making it attractive to new generations as well.' The revival respects the idiosyncrasies of the past. While the historic Gellért Baths, adjacent to the hotel, will remain under city management, a new on-site spa will offer Mandarin Oriental's signature wellness experiences. The culinary offerings will blend past and present, with restaurants designed to delight both locals and international guests. Kecskeméthy is especially passionate about restoring the hotel's local relevance. 'We want our restaurants to be places locals love, just how they were in the past. This hotel was once at the heart of Budapest's social life. We wish that feeling back.' The partnership with Mandarin Oriental is seen as key. 'They don't impose a standard style. Instead, they cooperate, in order to create something unique,' says Kecskeméthy. 'They care about the culture, the partners, and the place — and that's especially important when developing a spa concept in a hotel like this.' Every decision, from treatments to design, is made with longevity in mind. The renovation team is evaluating 'the treatments, experiences, and design' that will feel both timeless when the hotel re-opens but also innovative in the years to come. As the Gellért prepares for its next chapter, those behind its revival are proud to re-imagine a cornerstone of Budapest's past for the future, ready to welcome the world once more with grace, grandeur and a touch of daring.
