Thursday, November 14, 2019
Business

Ready for take off: Tom Enders parts ways with Airbus and hands the reins to Guillaume Faury

By Jens Flottau

It had to be those red cowboy boots. “My favorite shoes, very comfortable,” Tom Enders says, raising his jeans a bit to show off his footwear. His last meeting with the media in a Munich hotel, no pressure any more. Enders is relaxed and in a good mood, his aides will confirm that this has not always been the case in past years.

He just received his first lifetime achievement …

The once-proud Deutsche Bank is in dire straits

By Mark Schieritz

It should have been the high point of its global conquest. In 1999, after a series of acquisitions, in terms of its balance sheet Deutsche Bank rated as the biggest bank in the world. In actuality, it was the beginning of its downfall. Today’s Deutsche Bank is but a shadow of its former self. Its share price, at $144 in 2007, is now less than $10. The largest German bank …

Bayer’s purchase of Monsanto is giving the aspirin makers a big headache

By Wolfgang Mulke

The chief executive of the pharmaceutical and chemical giant Bayer is preparing for a tumultuous meeting with his shareholders. They will convey their displeasure about the company’s massive loss in value to Werner Baumann at the corporation’s general meeting on April 26. Their anger is understandable. While before the acquisition of Monsanto, a share of Bayer was worth €105, it currently sells for around €60. For a short time, the …

The US ridesharing company Uber is facing considerable resistance in Germany

By Martin Gropp

If you’re flying from the United States to Germany and you want to use the American ride-hailing company Uber to get from the airport to downtown, there are two things you need to know: first, you’re going to have to land in one of only a few German cities and, second, you should bring a lot of time to spare. While in many US cities and several countries around the …

Listen up: Huawei, 5G and the new geopolitics

By Daniel Leisegang

The next generation of wireless systems – 5G –
promises to revolutionize our lives. The new mobile communications technology will blow away all current wireless standards and set in place certain pre-conditions for telemedicine, driverless cars and Smart Cities. These advancements are made possible, in part, by a data transmission rate of more than 10 gigabytes per second – i.e. 20 times faster than what 4G can achieved.

Only four …

Climate change is transforming viticulture in Germany

By Nikolas Rechenberg

Vineyards that reach the Baltic Sea? We’ve seen it once before – some 800 years ago. Today’s climate change is bringing warmer and warmer weather to Germany. And accordingly, German winemakers have started moving even further north, all the way to the coast. Near Kiel, Germany’s northernmost big city in the state of Schleswig-Holstein, the Montigny Winery now operates a vineyard on two hectares of land surrounding Hof Altmuehlen. And …

A company is founded every 20 minutes in Berlin

A company is founded every 20 minutes in Berlin
By Magdalena Thiele

Daniel Stammler and Janosch Sadowksi came to Berlin by way of Karlsruhe, the city in southwest Germany where they founded Kolibri, their gaming startup. Stammler and Sadowski see the town as having been an ideal springboard for their business, especially thanks to its proximity to the Karlsruhe Institute for Technology (KIT) and all the creative minds studying there. “However, in order to take things to the next level, we had …

Businesses will learn to cope with Brexit, and EU member states will do everything they can to avoid complete chaos

By Mark Schieritz

If the past few years have taught us anything, it’s the wisdom of taking predictions with a grain of salt. When Donald Trump was elected president of the United States, it was said the US economy would collapse. That has not happened. It has, in fact, grown at a healthy clip. In a similar vein, the argument went that if the British chose to leave the European Union, prices on …

Germany’s sharing economy is catching on

By Manfred Ronzheimer

If you want to build a building, you need construction machinery and industrial cranes. When the work of those excavators and wheel loaders is done and the building is standing erect, the machines are taken back to the depot. In fact, a large portion of building equipment is active on construction sites for only 50 percent of its “lifetime.” In the case of cranes, that number sinks to only 25 …

US Ambassador Richard Grenell’s threats against German companies make waves, but produce little more than petty victories

By Peter H. Koepf

In the dispute over the Nord Stream 2 gas pipeline, German Minister for Economic Affairs and Energy Peter Altmaier is openly seeking a compromise with the United States. The German government will ensure that there is a liquefied natural gas (LNG) terminal in Germany, he said. American LNG – albeit expensive – could then be brought into the country. Europe cannot be “susceptible to blackmail,” Altmaier said on Feb. 13 …