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Porsche considers selling MHP, possible valuation of over 1 billion euros, Handelsblatt reports
Porsche considers selling MHP, possible valuation of over 1 billion euros, Handelsblatt reports

Yahoo

timea day ago

  • Automotive
  • Yahoo

Porsche considers selling MHP, possible valuation of over 1 billion euros, Handelsblatt reports

BERLIN (Reuters) -Porsche is looking to sell its consulting and IT services business MHP, which could possibly be valued at over 1 billion euros ($1.17 billion), the German business daily Handelsblatt reported on Friday, citing two people familiar with the matter. Porsche was not immediately available for comment. Handelsblatt cited the German carmaker as saying it was "continuously reviewing potential optimisations for its investments." ($1 = 0.8540 euros)

Porsche considers selling MHP, possible valuation of over 1 bln euros, Handelsblatt reports
Porsche considers selling MHP, possible valuation of over 1 bln euros, Handelsblatt reports

Reuters

timea day ago

  • Business
  • Reuters

Porsche considers selling MHP, possible valuation of over 1 bln euros, Handelsblatt reports

BERLIN, June 27 (Reuters) - Porsche (P911_p.DE), opens new tab is looking to sell its consulting and IT services business MHP, which could possibly be valued at over 1 billion euros ($1.17 billion), the German business daily Handelsblatt reported on Friday, citing two people familiar with the matter. Porsche was not immediately available for comment. Handelsblatt cited the German carmaker as saying it was "continuously reviewing potential optimisations for its investments." ($1 = 0.8540 euros)

EU needs rare earths strategic reserves against China threat
EU needs rare earths strategic reserves against China threat

Free Malaysia Today

time3 days ago

  • Business
  • Free Malaysia Today

EU needs rare earths strategic reserves against China threat

The EU's commissioner for industrial strategy Stephane Sejourne is expected to launch tenders to promote alternative raw material sources. (EPA Images pic) BRUSSELS : EU countries should create joint reserves of rare earths to prevent supply chain disruptions and economic blackmail from China, the EU's commissioner for industrial strategy, Stephane Sejourne, told the Handelsblatt newspaper. Sejourne also said he would launch further tenders this year to promote alternative raw material sources, the German newspaper said. 'All European countries today have strategic reserves for oil and gas. 'We should do the same for strategic raw materials,' Sejourne was quoted as saying today. The EU in June announced 13 new raw material projects outside the bloc to increase its supplies of metals and minerals essential to its competitiveness in the energy transition, as well as defence and aerospace. The announcement followed China's decision in April to impose export curbs on rare earth magnets until new licences are obtained, leaving diplomats, carmakers and other companies from Europe and elsewhere scrambling to secure meetings with Beijing officials and avert factory shutdowns. Sejourne also warned Beijing that the EU has the tools to defend itself in a potential trade war. 'Europe must finally use the same weapons as its competitors,' he said. China in June said it attached great importance to the EU's concerns and would look into speeding up the approval process to ship rare earth exports to the EU.

EU needs rare earths strategic reserves against China threat, commissioner tells paper
EU needs rare earths strategic reserves against China threat, commissioner tells paper

Reuters

time5 days ago

  • Business
  • Reuters

EU needs rare earths strategic reserves against China threat, commissioner tells paper

June 23 (Reuters) - European Union countries should create joint reserves of rare earths to prevent supply chain disruptions and economic blackmail from China, the EU's Commissioner for Industrial Strategy, Stephane Sejourne, told the Handelsblatt newspaper. Sejourne also said he would launch further tenders this year to promote alternative raw material sources, the German newspaper said. "All European countries today have strategic reserves for oil and gas. We should do the same for strategic raw materials," Sejourne was quoted as saying on Monday. The European Union in June announced 13 new raw material projects outside the bloc to increase its supplies of metals and minerals essential to its competitiveness in the energy transition as well as defence and aerospace. The announcement followed China's decision in April to impose export curbs on rare earth magnets until new licences are obtained, leaving diplomats, carmakers and other companies from Europe and elsewhere scrambling to secure meetings with Beijing officials and avert factory shutdowns. Sejourne also warned Beijing that the EU has the tools to defend itself in a potential trade war. "Europe must finally use the same weapons as its competitors," he said. China in June said it attached great importance to the EU's concerns and would look into speeding up the approval process to ship rare earth exports to the EU.

Disenchanted Aston Martin Valkyrie Owner Files A Dramatic Lawsuit
Disenchanted Aston Martin Valkyrie Owner Files A Dramatic Lawsuit

Yahoo

time19-06-2025

  • Automotive
  • Yahoo

Disenchanted Aston Martin Valkyrie Owner Files A Dramatic Lawsuit

Disenchanted Aston Martin Valkyrie Owner Files A Dramatic Lawsuit originally appeared on Autoblog. We've all seen a new hypercar and dreamed that, in the right circumstances, we'd gladly make numerous comfort and practicality concessions to experience their brilliance in other areas. But one such buyer in Germany believes the incomparable Aston Martin Valkyrie pushes the limits of one's compromise beyond all reasonable measure. With a Cosworth-developed naturally aspirated 6.5-liter V12 capable of delivering over 1,000 horsepower at 10,500 rpm (with a redline at 11,100), it's to be expected that the highly strung engine will be fairly loud, but a new lawsuit suggests that the visceral noise it makes is dangerous, and wearing the protective headphones that must be used whenever the car is driven could actually put drivers of the Valkyrie in danger. And that's far from the only issue he's faced in his time owning the car, reports local publication Handelsblatt. The publication protected the disenchanted owner's identity with the alias Sebastian Kunze. Herr Kunze claims that on the 27th of August, the headphone system failed. As a result of the extreme noise, he alleges, he nearly crashed into an ambulance, despite the latter blowing its horn. The publication did not use the German word for siren, but one should surely be able to hear any car horn when driving anyway. After that encounter, Kunze's lawyer, Marco Rogert, says he hasn't dared drive the car again. Not that Kunze appears to want to, anyway. Kunze bought the car in February 2022 for €3 million, or around $3.5 million. But in the three years and 271 miles since, he's allegedly had numerous issues. One of the biggest was an issue with the "Rocket Locker," a locking system that keeps the car's hydraulic suspension from sagging when power is cut off. This was allegedly removed without Kunze's knowledge, causing the car to rest on its wheels. He claims this led to visible damage "during transport and visits to the workshop." Following this, and a claim of numerous warning lights related to the high-voltage hybrid system shortly after taking delivery, he wanted to return the car, but then Aston Martin told him to pay a usage fee of roughly €55,000 (~$63,000) for the 441 km/271 miles he'd done. View the 3 images of this gallery on the original article An Aston Martin statement obtained by Handelsblatt, apparently in response to the cost-per-mile Kunze was asked to pay, reportedly said, "Most owners drive around 300, and certainly no more than 1,000 kilometers per year." Kunze also reportedly took issue with the short service intervals, perhaps not understanding the highly specific nature of this barely legal hypercar. This isn't a Bugatti Tourbillon, meant to crush continents at 250 mph without breaking a sweat or allowing its occupants to. This is an Adrian Newey-designed aerodynamic wonder that does the bare minimum to meet regulations. It's not meant to be used as a daily driver, and Kunze's argument that the Valkyrie had more defects "than all my other cars combined" might seem a little sensational. Moreover, Aston Martin says that the blame for the damaged wheels lies not at the feet of the Rocket Locker system, but with the owner himself, saying that the car's issues are "typical signs of wear or marks that arise from improper wheel replacement. In this context, we point out that the plaintiff insisted on changing the wheels on the vehicle himself and even purchased a jack set from the defendant specifically for this purpose." Unfortunately, this case will likely drag on a little longer. The presiding judge suggested a mutual settlement, but after arguments about where the case could be tried, and two earlier attempts by Aston Martin to arrange trade-ins for the Valkyrie, a court ruling of some sort seems to be the objective. Each side has six weeks to submit further statements, and if the Aachen Regional Court declines jurisdiction, the case may have to be argued back in the United Kingdom, where Aston wanted the case heard in the first place. Disenchanted Aston Martin Valkyrie Owner Files A Dramatic Lawsuit first appeared on Autoblog on Jun 19, 2025 This story was originally reported by Autoblog on Jun 19, 2025, where it first appeared.

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