Friedrich Merz, Germany's likely next chancellor, begins coalition talks on Monday after his conservative CDU/CSU won the federal election. The right-wing populist AfD achieved its best result with 20.8%, while Merz's party achieved 28.6%. However, the established parties have ruled out working with the AfD. Merz must therefore negotiate with the SPD, which could take a long time due to political differences. Merz also criticized the USA and emphasized that he wanted to make Europe more independent from the USA.
Elon Musk's Starlink is increasingly competing with China's SpaceSail and Jeff Bezos' Project Kuiper. SpaceSail is expanding internationally and is planning up to 15,000 satellites by 2030. China is investing heavily in satellite internet, which worries Western countries because of possible influence on the internet.
The US urges the UN General Assembly to support its resolution on the third anniversary of Russia's invasion of Ukraine and to reject competing texts. The US resolution aims for a quick end to the war, but avoids direct demands for a Russian troop withdrawal. There could be vetoes in the UN Security Council. President Trump is trying to broker peace, which is causing tensions with Ukraine and European allies. Russia and the EU states have tabled amendments that clarify the conflict and emphasize Ukrainian sovereignty.
The Pope thriller “Conclave” won Best Film Ensemble at the SAG Awards. Timothée Chalamet won Best Actor in a Leading Role for his role as Bob Dylan in “A Complete Unknown”. Demi Moore (The Substance), Kieran Culkin (A Real Pain) and Zoe Saldana (Emilia Perez) also received acting awards. Conclave is now considered the favorite for the Oscar.
Elon Musk sent an email to US officials asking them to disclose their weekly benefits - otherwise they could be dismissed. Several authorities, including the FBI and State Department, advised their employees not to respond. The largest federal union doubts Musk's authority.
Indonesia launches the sovereign wealth fund “Danantara”, which invests 20 billion US dollars in projects such as metal processing, AI and renewable energies. The aim is to increase economic growth to 8%. The fund manages state-owned company shares and is intended to promote long-term growth. Despite criticism, transparency is promised.
Bangladeshi students who protested against Prime Minister Sheikh Hasina last year are founding a political party this week. The Students Against Discrimination (SAD) group led the protests that led to Hasina's flight to India. Nahid Islam, a leading student, is to lead the party. According to the interim government under Nobel Prize winner Muhammad Yunus, elections could be held at the end of 2025.
Donald Trump announced that Dan Bongino, a conservative radio host and former New York City police officer, has been appointed as the new deputy FBI director. Bongino was nominated by FBI Director Kash Patel. The position does not require Senate confirmation. Bongino will give up his radio show to take on the role.
Pope Francis, who is battling double pneumonia and kidney problems, remains in critical condition. After a blood transfusion on Saturday, his blood values show a slight improvement. The 88-year-old is receiving oxygen and his kidney function is stable. However, the prognosis remains cautious. Pilgrims are praying for his recovery and special masses are also being held in his honor in Rome.
The President of the Democratic Republic of Congo, Félix Tshisekedi, is planning a unity government in response to the M23 rebels in the east of the country. Critics accuse him of being more interested in maintaining his power than in solving the crisis.
Friedrich Merz is set to become Germany's new chancellor, but he does not yet have a clear government plan. In the election on February 23, his conservative alliance won around 29% of the vote. However, he will have to form a coalition with other parties, which could be complicated given the geopolitical situation and the economic crisis. Discussions about tax increases and military aid for Ukraine are on the agenda, as Merz is counting on close cooperation with the Greens. Coalition talks could become difficult, partly due to the rise of extreme parties.
In the US, there is a shift in corporate policy towards diversity, equality and inclusion (DEI). Originally sparked by the wave of protests following the murder of George Floyd in 2020, many companies have had to introduce DEI initiatives. However, under pressure from legal threats such as the Supreme Court decision and statements from the Trump administration, large companies such as Citigroup and Meta are beginning to relax these policies. Some firms have removed diversity targets, which is seen as a response to the growing legal risks.
Market reaction to the German election shows relief at the CDU/CSU victory as DAX futures have risen 1.4%. The euro has also risen by 0.5% to a high for the month at $1.0528. However, a coalition government under Friedrich Merz has yet to be formed, which could take time. In Europe, Germany's leadership is urgently needed given the uncertainty surrounding President Trump's support for NATO and Ukraine. On March 6, EU leaders will hold a special summit to discuss additional support for Ukraine.
Meanwhile, Trump's poll ratings have plummeted in recent days, according to Reuters, as more Americans are concerned about negative developments in the US economy while the new president threatens to impose tariffs on many countries. The proportion of Americans who disapprove of his presidency rose to more than half in the latest poll, up from 41% immediately after he took office.
According to a journalist for The Times, Western officials have revealed plans for a possible deployment of military forces to Ukraine. The deployment is said to focus on critical infrastructure and would not include a presence in the east of the country.
Al-Qassam Brigades of Hamas - Tulkarm Battalion in West Bank claim responsibility for Tel Aviv terror attacks!
Another submarine cable between Finland and Germany has been damaged in the Baltic Sea. The break in the C-Lion 1 cable occurred in Sweden's exclusive economic zone off the coast of the island of Gotland.
The European Union will announce the suspension of its sanctions against Syria on Monday. - AFP
German Foreign Minister Annalena Baerbock threatened that Germany would break off relations with the United States because of its “pro-Russian stance”.
The Pentagon's civilian staff will be reduced by 5-8%. The department will lay off about 5,400 probationary employees starting this week and impose a hiring freeze.
Lilium files for bankruptcy again - the move likely seals the end of the air taxi company. Following discussions with insiders, financiers and investors, manager-magazin reconstructs what has been going on behind the scenes in recent weeks. Who gave money again - and who didn't. (MM)
Nikola bankruptcy has consequences for German companies - with the insolvency of the electric truck manufacturer Nikola, German business partners such as Bosch, ZF and Knorr also have to write off receivables. In total, millions are at stake, as Wirtschaftswoche reports. (WIWO)
Nissan now apparently wants to get Tesla on board - barely after negotiations with Honda broke down. Tesla is mainly interested in the Nissan factories in the USA, reports the Financial Times. (FT)
TikTok is increasingly relying on AI-generated content in the app - and has developed an AI model called “Goku” that creates realistic videos from simple text input. The question is: if platforms are increasingly creating their own AI-generated influencers, will human content creators become less important? (T3N)
Warren Buffett announced in his letter to shareholders that Berkshire Hathaway's cash reserves rose to a record high of USD 334 billion in 2024. Operating profit grew by 27% to USD 47.4 billion. Instead of making new investments, Berkshire sold USD 143 billion worth of shares and parked billions in US government bonds. Buffett increased his stake in five Japanese trading companies. There have been no share buybacks since May, indicating a wait-and-see attitude. This could indicate overvalued markets or Buffett's preparations for the handover to his successor Greg Abel.
- Bundestag election: CDU/CSU wins, SPD plummets, AfD second strongest force, FDP out (SPG)
- Krupp Mannesmann: Germany's second largest steelworks on the brink of closure (SUED)
- Kuka: Robot manufacturer plans to cut 400 jobs (MM)
- Nicotine pouches: Soon to be approved in Germany? (TAG)
- USA: Putting pressure on Ukraine to secure raw materials in the country (WP)
- Selenskyj: Ukraine president offers to resign - against Ukraine's NATO accession (FT)
- Japan: Inflation rises to 4% (CNBC)
- SPACs: Veterans drive revival as search for deals increases (BBG)
- OpenAI: Surpasses 400 million weekly active users (RT)
- Meta: Used massive amounts of pirated software for AI training (HEI)
- Monopoly position: NVIDIA receives 77% of all AI wafers (PCG)
- News industry: In France, an investigation into AI-powered news sites causes a stir (SUED)
- Allianz GPT: Internal AI platform launched at insurance giant (ALL)
- Spotify: Now accepts audiobooks spoken by audio AI ElevenLabs (EL)
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