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EU to Force Car-Rental Firms to Buy EVs Only From 2030: Bild

EU to Force Car-Rental Firms to Buy EVs Only From 2030: Bild

Yahooa day ago
(Bloomberg) -- The European Commission is working on a plan to prohibit car-rental firms and large corporations from buying non-electric vehicles for their fleets from 2030, according to German newspaper Bild.
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Under the deliberations, companies like Sixt SE and Europcar Mobility Group SA would only be allowed to purchase electric vehicles from that date, the publication said, citing European Union sources it didn't identify.
The move would affect 60% of the new car business, if enacted, it cited one Brussels lawmaker as saying. The Commission plans to present the proposal, which would be a de facto acceleration of the EU's plan to phase out combustion engines, later in the summer before submitting it for parliamentary approval, the newspaper said.
The EU confirmed to Bild that work is underway on new regulations, while declining to provide details.
The EU currently plans to phase out combustion vehicle sales by 2035.
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Whiskey House of Kentucky strikes Bourbon supply deal with Berentzen-Gruppe
Whiskey House of Kentucky strikes Bourbon supply deal with Berentzen-Gruppe

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Whiskey House of Kentucky strikes Bourbon supply deal with Berentzen-Gruppe

Whiskey House of Kentucky is to ship Bourbon to Germany's Berentzen-Gruppe, an Bourbon and American whiskey supplier to customers in Europe. Berentzen-Gruppe, a private-label Bourbon supplier, said the tie-up has started, with the first whiskey barrels filled. A spokesperson for Berentzen-Gruppe said: '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." Whiskey House of Kentucky was founded in 2021 with the aim of 'transforming' the whiskey market in America. The Berentzen-Gruppe spokesperson added the deal would enable the company to 'maintain our position in the European market and, where possible, expand it further'. They added: 'In this context, an exclusive deal is a win-win for both sides. New barrels will be added each year and then transferred step by step to Germany at the end of the aging process.' Former Bardstown Bourbon Company president and CEO David Mandell set up Whiskey House of Kentucky. According to the company' LinkedIn page, the distiller produces rye, whiskey and Bourbon for brands including Jefferson's and High West. It has no brands of its own. In a statement, Mandell said: "We're proud to announce the signing of a long-term supply agreement and strategic partnership with Berentzen-Gruppe, the largest importer of bourbon and American whiskey in Europe. With a 260 year-old history, Berentzen-Gruppe is a leader in the spirits and beverage alcohol business in Europe and more than 60 countries around the world." Berentzen-Gruppe manufactures spirits and non-alcoholic drinks. The company markets its own brands including Berentzen shots, Pushkin vodka and Mio Mio soft drinks. The principal market for the group's own spirits is Germany. "Whiskey House of Kentucky strikes Bourbon supply deal with Berentzen-Gruppe" 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.

Companies pledge to invest over $700 billion in Germany over the next 3 years
Companies pledge to invest over $700 billion in Germany over the next 3 years

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timean hour ago

  • Yahoo

Companies pledge to invest over $700 billion in Germany over the next 3 years

BERLIN (AP) — A group of dozens of companies pledged Monday to invest at least 631 billion euros ($733 billion) in Germany over the next three years, sending a signal of confidence in Europe's biggest economy as the new government tries to breathe new life into it. The economy has shrunk for the past two years and is expected to stagnate this year. Chancellor Friedrich Merz's administration has made revitalizing it a top priority since it took office May 6. It has launched a program to encourage investment and set up a 500 billion euro fund to pour money into Germany's creaking infrastructure over the next 12 years. It is promising to cut red tape and speed up the country's lagging digitization. On Monday, Merz welcomed representatives of an initiative titled 'Made for Germany' to the chancellery to send a signal of confidence from and to private investors. The group currently includes 61 companies from across the economy, among them industrial conglomerate Siemens and financial giant Deutsche Bank. 'The investments by the initiative are a very powerful signal that we are now experiencing a shift in sentiment and consolidating it," Merz said. 'The message ... is very clear: Germany is back. It's worth investing in Germany again. We are not a location of the past, but a location of the present and above all the future.' He stressed that private investment is crucial to encouraging growth. The overall figure pledged Monday includes at least some already planned investments. Merz said the plans include investments in new facilities and in modernizing infrastructure, in research and development. Deutsche Bank CEO Christian Sewing praised the new government as being 'determined to end the reform backlog that has slowed us down for too long.' But he said that it still needs to do more, and the companies 'encouraged' the government 'to continue the course of reform.' 'Our priorities are clear: We want economic growth, we want to strengthen Germany's competitiveness, we want to defend or further expand our technological leadership and we want to bring our infrastructure into the digital age,' Siemens CEO Roland Busch said. The Associated Press 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

Companies pledge to invest more than $700 billion in Germany over the next 3 years
Companies pledge to invest more than $700 billion in Germany over the next 3 years

Yahoo

timean hour ago

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Companies pledge to invest more than $700 billion in Germany over the next 3 years

BERLIN (AP) — A group of dozens of companies pledged Monday to invest at least 631 billion euros ($733 billion) in Germany over the next three years, sending a signal of confidence in Europe's biggest economy as the new government tries to breathe new life into it. The economy has shrunk for the past two years and is expected to stagnate this year. Chancellor Friedrich Merz's administration has made revitalizing it a top priority since it took office May 6. It has launched a program to encourage investment and set up a 500 billion euro fund to pour money into Germany's creaking infrastructure over the next 12 years. It is promising to cut red tape and speed up the country's lagging digitization. On Monday, Merz welcomed representatives of an initiative titled 'Made for Germany' to the chancellery to send a signal of confidence from and to private investors. The group currently includes 61 companies from across the economy, among them industrial conglomerate Siemens and financial giant Deutsche Bank. 'The investments by the initiative are a very powerful signal that we are now experiencing a shift in sentiment and consolidating it," Merz said. 'The message ... is very clear: Germany is back. It's worth investing in Germany again. We are not a location of the past, but a location of the present and above all the future.' He stressed that private investment is crucial to encouraging growth. The overall figure pledged Monday includes at least some already planned investments. Merz said the plans include investments in new facilities and in modernizing infrastructure, in research and development. Deutsche Bank CEO Christian Sewing praised the new government as being 'determined to end the reform backlog that has slowed us down for too long.' But he said that it still needs to do more, and the companies 'encouraged' the government 'to continue the course of reform.' 'Our priorities are clear: We want economic growth, we want to strengthen Germany's competitiveness, we want to defend or further expand our technological leadership and we want to bring our infrastructure into the digital age,' Siemens CEO Roland Busch said. 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

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