Germany's Merz Criticizes Plan to Make Car-Rental Firms Buy EVs
Under the deliberations, companies like Sixt SE and Europcar Mobility Group SA would only be allowed to purchase electric vehicles from that date, Bild reported on Sunday, citing EU sources it didn't identify.
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Fox News
a minute ago
- Fox News
EU defense chief warns of 'most dangerous moment' – coordinated Russian-Chinese aggression by 2027
The European Union's first-ever defense commissioner has issued a stark warning: the world's "most dangerous moment" could arrive as soon as 2027, when Russia and China may coordinate aggressive moves designed to overwhelm Western defenses. Andrius Kubilius, the EU's commissioner for defense and space, echoed recent remarks by U.S. Air Force Gen. Alexus Grynkewich, NATO's top commander for air operations. Both officials highlighted 2027 as a potential flashpoint year when simultaneous military actions by Moscow and Beijing could stretch the transatlantic alliance to its limits. "The most dangerous moment can be in 2027, when both Russia and China will make these aggressive moves in a coordinated way," Kubilius told reporters during a briefing in Washington. Grynkewich had warned last week that the United States and its European allies must be prepared to fight two wars simultaneously – one in Europe, should Russian President Vladimir Putin escalate in Ukraine or Eastern Europe, and another in the Pacific if Chinese President Xi Jinping launches an invasion of Taiwan. "We're going to need every bit of kit and equipment and munitions that we can in order to beat that," Grynkewich said. In a speech later Monday evening, Kubilius said the U.S. has the "right and reason" to turn its focus to China. "We are recognizing that you, Americans, have really the right and the reason in the longer-term perspective to start to shift more and more toward the Indo-Pacific in order to mitigate Chinese rising military power," he said. "We Europeans need to ramp up our defense capabilities," the former Lithuanian prime minister said, adding: "That is what we are doing." Their warnings align with growing concerns across the U.S. defense establishment over what is often referred to as the "Davidson Window" – a term coined by former Indo-Pacific Command chief Adm. Philip Davidson, who testified before Congress in 2021 that China could attempt to forcibly reunify with Taiwan by 2027. The assessment has since become a widely cited benchmark for military planners preparing for a potential crisis in the Indo-Pacific. The 2027 window has taken on added urgency as China rapidly accelerates its military modernization program, aiming to achieve what Xi Jinping has called "world-class" warfighting capabilities by the People's Liberation Army's centennial in 2027. U.S. and NATO officials also fear that Russia, despite sustaining major losses in Ukraine, could reconstitute and redirect its forces toward renewed aggression in Eastern Europe by that same timeframe – placing strategic pressure on two fronts simultaneously. Kubilius traveled to Washington to assess potential shortfalls in European defense capabilities as the U.S. increasingly pivots its strategic attention toward the Indo-Pacific. He said EU member states are actively preparing for a shift in the American military posture on the continent. As of 2025, more than 80,000 U.S. troops are stationed in Europe – a presence widely expected to decline in the coming years as the Pentagon presses its European allies to assume greater responsibility for their own defense. "We are preparing ourselves to take responsibility on our shoulders," Kubilius said. "We don't know what Americans will decide." Kubilius emphasized that Europe must not only fund its own defense but also build it. He noted that the EU has reduced its reliance on U.S.-made weapons from 60% of total imports to 40%, and hopes to lower that dependency further through increased domestic production. As defense commissioner, Kubilius is tasked with implementing an $840 billion framework to "Re-Arm Europe," including a €150 billion loan facility available to member states for building out their armed forces and industrial capacities. Separately, NATO leaders at last month's summit in Washington agreed to a sweeping pledge to increase defense spending – raising the benchmark from 2% of GDP to 5% for member countries, a historic shift in alliance posture amid growing global instability. Adding to the sense of urgency, President Donald Trump announced that the United States would offer advanced weapons systems to Ukraine – on the condition that European partners cover the cost. Western defense ministers convened on Monday to discuss the proposed financing mechanism. "We're going to be sending Patriots to NATO and then NATO will distribute that," Trump said last week, referring to the high-value air defense systems that Kyiv has long sought. Kubilius declined to elaborate on which other weapons may be included in the package, but underscored the critical importance of maintaining unwavering support for Ukraine's defense against Russia's full-scale invasion. "China is watching," he said. "China will be able to make a conclusion that if the West is weak in Ukraine, then we can expect aggressive behavior from China against anyone."
Yahoo
29 minutes ago
- Yahoo
Berentzen-Gruppe issues profit warning on weak consumer demand
Berentzen-Gruppe has cut its forecasts for annual revenue and operating profit, pointing to continued low consumer confidence. Ahead of the planned publication of the Germany-based distiller and soft-drinks maker's half-year results next month, the Pushkin vodka set out new projections for revenue and operating profit. The business now expects its revenues to be between €172m ($201m) and €178m in 2025, down from its previous forecast of €180-190m. In 2024, the group recorded revenue of €181.9m. Berentzen-Gruppe is projecting consolidated operating profit to range between €8m and €9.5m this year. In 2024, it generated EBIT of €10.6m and had been forecasting between €10m and €12m for 2025. 'Development in the first half of 2025 thus fell short of our expectations, which is primarily attributable to very challenging market conditions in the spirits segment,' Berentzen-Gruppe CEO Oliver Schwegmann said. 'When we set our forecast at the beginning of the year, we still assumed that the very poor consumer sentiment that manifested itself in 2024 would brighten significantly again in 2025. Instead, this trend has continued in 2025 and has even intensified across the entire alcoholic beverages market.' Schwegmann said all promotions with discount retailers for the company's Berentzen-branded liqueurs were cancelled in the first half. 'This was one of the main reasons why the second quarter was weak for our branded spirits,' he added. However, Schwegmann pointed to the 13.2% increase in revenues from the company's Mio Mio soft-drinks brand, which he described as 'finally back on its dynamic growth path'. He added: 'We achieved double-digit revenue growth with our premium and medium products from our private label spirits segment, which are strategically important, particularly for our international business. Overall, our strategic core areas therefore recorded an increase in revenues. This shows once again how important and right it was to position ourselves broadly as a group of companies. 'Despite this market environment, we expect the marketing initiatives outlined above to take effect later in the year, enabling us to report revenues and earnings figures for the second half of the year at the strong level of the previous year.' Last week, Berentzen-Gruppe announced a deal to source Bourbon from Whiskey House of Kentucky. Berentzen-Gruppe, which supplies private-label Bourbon, said the tie-up has started, with the first whiskey barrels filled. A spokesperson for Berentzen-Gruppe told Just Drinks: 'We are one of the largest Bourbon suppliers in Europe for private-label business. 'Particularly in view of the long storage times, we need firm, long-term contracts that ensure we will have sufficient quantities available in the coming years.' "Berentzen-Gruppe issues profit warning on weak consumer demand" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
New York Times
31 minutes ago
- New York Times
The Gift of a New Opera House, With a Grim Family History Attached
When the Hamburg State Opera's new general director, Tobias Kratzer, explained his plans to revitalize the company earlier this year, he said his first season was all about embracing risk. As images of models dressed in gender-bending costumes flashed across the screen at a presentation in March, Kratzer outlined a season of reinvented classics and new commissions that combined avant-garde stagings with big political themes. The creative shift is happening alongside an even riskier development for the institution: a flashy new opera house near the city's waterfront. Sitting alongside Kratzer, Hamburg's culture minister, Carsten Brosda, unveiled the plans for the new building, which is expected to cost approximately 340 million euros, around $394 million. In a rarity for Germany, where flagship cultural projects are usually financed with public funds, the construction will be financed by a private benefactor. The city will only need to provide the land and some infrastructure, like flood protection measures. Brosda said it was 'incredible' that someone was willing to 'donate an opera house to a city.' Brosda didn't mention that benefactor's name: Klaus-Michael Kühne, 88, a German billionaire. Nor did Brosda mention the controversy around the source of Kühne's fortune. His family's company, Kühne + Nagel, is one of the world's largest logistics firms, and collaborated with the Nazi regime to transport goods stolen from Jews during World War II. Unlike the leadership of most other companies implicated in the crimes of the Third Reich, Kühne has resisted calls for an investigation by independent historians into its actions during the war and publicly stated that its behavior in the Nazi era is no longer relevant. Want all of The Times? Subscribe.
