Good morning dear readers,
after admiring the creativity of the united “Dylanologists” of this world – all these homages on the 80th birthday of the word master on Whit Monday, often with one of the 600 Bob Dylan songs as an anchor line (kathisch.de with “Knockin ‘on Heaven’s Door”) – so we direct our gaze towards this divine festival of contemporary history on the not at all lyrical world.
In that, a blood state like Belarus can simply force a Ryanair liner plane to make a stopover in Minsk on the way from the EU country Greece to the EU country Lithuania, to arrest a dissident blogger and his girlfriend in the group of passengers: “A Hard Rain’s a-Gonna Fall”.
At the EU summit of heads of state and government from 27 countries, which has been running since Monday evening, the aggression of the ruler Alexander Lukashenko immediately made it a hot topic. This “unprecedented incident” will “not remain without consequences”, announced Council President Charles Michel, many speak of an “act of state terrorism”.
Top jobs of the day
Find the best jobs now and
be notified by email.
–
–
–
Sanction number one: Belarusian airlines are no longer allowed to use EU airspace; conversely, many European airlines – including Lufthansa – no longer fly over Belarus. The EU Commission freezes three billion euros in investments.
Chancellor Angela Merkel, in turn, demands the immediate release of the imprisoned Roman Protasewitsch – who made a “confession” in Minsk. It is likely to be just as forced as the landing of the Ryanair jet.
The relationship with Belarus partner Russia is also on the summit agenda in Brussels. Just like the left-wing politician Gregor Gysi, the Kremlin has recently recalled that in 2013 a plane belonging to Bolivian President Evo Morales was forced to land in Austria at the behest of the USA. At the time it was hoped to find and arrest the whistleblower Edward Snowden – who, by the way, is now living in exile in Russia.
– –
–
When the debate about affordable rents boiled up in Berlin last year, market leader Vonovia behaved much more skillfully than its rival Deutsche Wohnen. Now the Primus wants to try for the third time to take over the second – for 53.03 euros per share, an increase of 18 percent compared to the last closing price. The transaction by the DAX companies should be perfect by the end of August, which is sure to scare politicians. Because it would create a giant with around 550,000 apartments.
Michael Zahn, CEO of Deutsche Wohnen, found the necessary critical words: In the event of a merger, there would be “virtually no more competition – and no choice for investors.” This is what he told the Handelsblatt months ago.
But now Zahn is talking about the “right moment” to combine the strengths of both companies. The man is possibly blinded by that sun, which can provide a lot of money.
A plan is made quickly, especially when it comes to good things such as a clean environment and the Federal Constitutional Court expressly advises them to do so. The federal government recently tightened its climate targets – and wants to make the republic climate-neutral as early as 2045, five years before the EU. But it will not work without energy-intensive industries such as chemicals, steel, paper or cement: The companies concerned are now demanding a concrete strategy and an aid fund from politicians.
It is time, says BASF boss Martin Brudermüller to the Handelsblatt, that politicians are leaving their “altitude of ambitions” and get to work. “It now has to be about implementation,” demands Bernhard Osburg, head of Thyssen-Krupp Steel Europe.
–
It is necessary to pool public funds in order to finance the conversion of energy-intensive industries. Sabine Nallinger, green board member of the 2 Grad Foundation, also sends a kind of emergency call: “The economy now needs a big hit with specific instruments for all sectors.”
There is a clear trend in the field of pharmaceutical companies fighting Covid-19. It has recently been shown that mRNA vaccines not only have better study results – they can also be produced more quickly. Now the manufacturers Biontech / Pfizer and Moderna are expanding their delivery commitments, most recently for low-income countries.
The US company Johnson & Johnson and the British-Swedish company Astra-Zeneca, which rely on other processes, cannot keep up. The Russian vaccine Sputnik V, on the other hand, is currently producing just 33 million doses – up to a billion doses were promised. “Whoever does not allow himself to be conquered by the truth, will be conquered by error,” says the philosopher Augustine Aurelius.
– –
–
A close observer of global financial policy is Mohamed El-Erian, Allianz’s chief economic advisor. In the big Handelsblatt conversation he says about …
- the loose monetary policy of the US Federal Reserve (even with rising prices): “The Fed should at least be open to the possibility that we are not only observing temporary effects. Otherwise she risks lagging behind. And then it could possibly have to brake heavily and risk a recession. “
- the markets: “Big companies have gotten even bigger in the pandemic. They have more power to enforce their prices. The supply chains no longer work as they used to. The problem is that while the Fed’s monetary policy is boosting demand, it cannot fix the supply-side problems. And the financial system is not prepared for a leap to higher interest rates. “
- the swing exchange with ascending and descending courses: “It’s like in the pub when the landlord announces that there will soon be no more beer. Then you get a shock first, and then you quickly order another beer while there is still something left. ”
And then there is the all-American gun legend Colt, the company with the drum revolver that Samuel Colt developed almost 200 years ago. Now the Czech producer CZ-Group has risen to the new owner of the traditional company, for 180 million euros and one million new shares. “Smoking Colts” in Prague.
With brands such as CZ, Dan Wesson and Brno Rifles, the CZ Group is one of the largest suppliers of small arms in Europe. The deal gives the Czechs better access to the important North American market. Incidentally, it was Heinrich Heine who decided that there was “nothing more quiet than a loaded cannon” – the thought-provoking quote at the start of the working week.
I wish you an inspiring day.
I warmly greet you
your
Hans-Jürgen Jakobs
Senior Editor
You can subscribe to the Morning Briefing here:
– .
