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US envoys met with Vladimir Putin in Moscow and are traveling to Kyiv to advance a peace initiative. Both sides discussed concrete next steps to end the war in Ukraine. Ukraine agreed to suspend attacks, while Russia is confident it can conquer eastern Ukraine.
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Israel attacked Hezbollah targets in southern Lebanon after the militia fired drones at Israeli soldiers. The army urged residents of one town to evacuate. Over 4,300 people have been killed in Lebanon since the conflict began in March.
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Dr. Nikolas Stihl, Chairman of the Supervisory Board of STIHL, is calling for a 40-hour work week without wage compensation to strengthen the German economy. He criticizes domestic issues like high costs and bureaucracy, emphasizing the need to increase work volume to maintain prosperity and the welfare state.
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Volkswagen has decided on a savings plan that includes the elimination of around 100,000 jobs worldwide. The company also plans to halve its model range and reduce R&D investments to increase profitability. However, experts criticize a lack of a forward-looking strategy.
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Turkey plans to privatize the two Bosphorus bridges and eight highways for 30 years, with ownership remaining with the state. The awarding of operating rights is expected to be completed by the end of 2031.
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Rising temperatures since the 1980s have lowered the cold limits in European mountains, leading to an increase in plant species on summits. Species preferring cooler locations have increasingly disappeared.
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The EU Commission approved tenders for electricity capacities, primarily targeting new gas power plants, which could lead to a long-term fossil lock-in. A UN report confirms the 1.5-degree Celsius global warming limit has been exceeded, necessitating faster climate action.
Companies & MarketsConsumer ProtectionIT & Internet
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Ultra-fast fashion provider Shein's IPO in Hong Kong valued the company at around $27 billion, 70 percent below its 2022 peak. Investors expressed concerns about supply chains and environmental impact, leading to a significantly reduced valuation.
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