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Product policy

Florida, Missouri and Louisiana siphon billions from BlackRock over ESG strategy

by archyde December 1, 2022

Blackrock

The wealth manager is under pressure to focus more on ESG criteria.

New York In the dispute over the ESG criteria of wealth managers, Florida has announced as another US state that it will withdraw funds from BlackRock. The chief financial officer responsible, Jimmy Patronis, justified the move on Thursday by saying that the company “openly stated that it has other goals than generating returns”.

In a statement, BlackRock said it was “concerned at the emerging trend towards such policy initiatives.” Missouri and Louisiana have also withdrawn funds from BlackRock, saying the company is now focusing too much on its environmental, social and governance (ESG) criteria at the expense of returns.

BlackRock has $8 trillion under management. At the same time, the company is under pressure from President Joe Biden’s Democrats to become more involved in ESG. Group boss Larry Fink said in October that he was being attacked equally from left and right: “So I’m doing something right.”

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December 1, 2022 0 comment

News

Panasonic wants to build Tesla super battery in Kansas

by archyde July 14, 2022

Panasonic-Akkus

The new battery generation of the type 4680 (left) is intended to replace the current 2170 batteries.

(Photo: Reuters)

Tokio Panasonic wants to build another battery factory together with the US electric car manufacturer Tesla. In the US state of Kansas, the Japanese are investing four billion dollars for another battery production, the group announced on Thursday. 4000 employees are to be hired for this.

“With the increasing electrification of the automotive market, expanding battery production in the US is crucial to meet demand,” said Kazuo Tadanobu, head of Panasonic Energy.
In fact, Panasonic is about defending its position as one of Tesla’s key battery suppliers.

The Japanese had already built the first “Gigafactory” in Nevada together with Tesla. Since then, Tesla has expanded its supplier network to include Chinese and Korean manufacturers. Panasonic is therefore under pressure because the Korean competition is investing heavily in US plants.

South Korea’s leading battery manufacturer LG Energy Solution and General Motors, for example, want to invest 2.6 billion dollars in a new battery plant in Michigan. Samsung SDI, another Korean battery giant, and transatlantic auto giant Stellantis announced a similarly large investment in May.

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Since former US President Donald Trump and his “America First” policy, the government has been urging domestic and foreign companies to invest more in the US. Panasonic’s billion-euro project is therefore a “new milestone for the economic and technological leadership of the USA and Japan,” explained US Ambassador Rahm Emanuel.

New battery generation

At the first Gigafactory in Nevada, there were massive problems when production started. Panasonic has learned from this experience: Before mass production starts in the USA, the Japanese group is testing the production of the new Tesla 4680 batteries on two production lines. The production processes are to be refined there so that the plants in other countries can then start more smoothly be able

Tesla boss Elon Musk has high hopes for the upcoming battery cell generation. The new 4680 batteries are to be installed in the Tesla Model Y in the future and increase the range by up to 30 percent.

By 2028, Panasonic wants to triple or quadruple its production capacity for cylindrical batteries from the current 50 gigawatt hours. Tesla is one of the few manufacturers to use cylindrical batteries that can be installed more flexibly in the vehicle. Panasonic brought its prismatic battery business, which most other automakers use, into Prime Energy Solutions, a joint venture with Japanese automaker Toyota.

More: A look at the Gigafactory Grünheide: This is how Tesla builds a car every 45 seconds

July 14, 2022 0 comment

Technology

German suppliers are building factories of the future

by archyde March 6, 2022

Elon Musk in Grünheide

Tesla works fundamentally differently than German car manufacturers. The hidden champions like that.

(Photo: Reuters)

Düsseldorf, New York For a good two years, Tesla has been building a “Gigafactory” in Brandenburg, a plant in which the electric mobility group wants to mass-produce its cars for the European market. On Friday, the US company also received the final building permit from the authorities for the major project.

Tesla boss Elon Musk has big plans in East Berlin, as an exclusive analysis shows. Numerous German companies supplied machines and other key technology to the company. Among other things, there are also 21 hidden champions who, according to a study by the FH Dortmund, which was carried out in cooperation with the Handelsblatt, are strongly represented in all production steps.

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March 6, 2022 0 comment

Technology

How Nestlé boss Mark Schneider is turning the food giant inside out

by archyde February 15, 2022

Mark Schneider

The Nestlé boss is the German model manager abroad.

(Foto: Reuters, Imago (2), Bloomberg/Getty Images)

Lausanne, Vevey The sweetish-bitter brew is entirely to Mark Schneider’s taste. “X-Tract” – an extract from olive leaves is said to combat fatigue – without any caffeine. A team of Nestlé employees developed the product, including an Italian food engineer, a Dutch marketing expert and a former Swiss professional skier.

Even the ancient Greeks consumed olive leaf extract before the ancient Olympic competitions to increase their performance, says the food engineer. Within a few months, the Nestlé team had the product ready for the market. But even before the market launch, “X-Tract” had convinced a prominent consumer, reports Loriane Sutter, the former professional skier: “Our first Nestlé fan was Mark Schneider.”

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February 15, 2022 0 comment

Economy

This applies to tenants and owners

by archyde February 12, 2022

New build apartments in Cologne

These buildings were still funded under the KfW program for efficiency houses KfW-55. In the future, a resource passport is to become an important part of the funding for energy-efficient houses.

(Photo: dpa)

Frankfurt It’s a document that virtually every homeowner and renter is familiar with. Anyone who has bought a property or rented an apartment in recent years has also been presented with an energy pass for the property.

Is the house energetically green? Or is the property poorly insulated and consuming an above-average amount of energy? Buyers of a home and future tenants of an apartment should be able to see this at a glance with the ID card.

The federal government is now planning to realign the energy pass. “Work on a new ‘sustainable building’ seal is well advanced,” said Bernhard Daldrup, spokesman for the SPD parliamentary group in the Committee on Building and Housing.

The new seal is intended to add an important aspect to the ID cards in the future and, after the much-criticised KfW ban, to become an important component of a new funding program. The following is an overview of what constitutes the new seal and how it is changing construction.

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February 12, 2022 0 comment

Entertainment

Daimler imposes an order freeze for the G-Class

by archyde January 27, 2022

Mercedes Benz G Class

The model has become a status symbol for city dwellers.

(Photo: imago images/Stefan Zeitz)

Munich It is a radical step, but apparently unavoidable from Daimler’s point of view. The Mercedes manufacturer has imposed an order freeze for its G-Class SUV, according to corporate circles on Thursday. Accordingly, interested customers have not been able to request the product since mid-January.

Background of the unusual measure: The brand with the star has been overwhelmed with orders for the G-Class for months. It will take well into 2024 just to process the existing orders in production, provided there are no cancellations, it said internally. The order stop should be limited. It is still unclear when Mercedes-Benz will start accepting new orders for the vehicle again, according to company circles.

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January 27, 2022 0 comment

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