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Canyon, Deutsche Bank, Joe Biden's bet and the tech craze of the industry

2021-03-12T17:52:30.993Z


Once a day we summarize the most important economic news for you. Also there: an Apple veteran in the racing bike company Canyon, a windfall for Americans, German bankers and Douglas as well as the tech enthusiasm of the German industry.


The garage is a downright mythical place in the modern business world.

Far away from state bureaucracy, the inventive spirit of true visionaries materializes into successful entrepreneurship.

Walt Disney, Google, Amazon - all founded in suburban garages.

The HP garage, now a neatly restored board shed, is even considered the birthplace of Silicon Valley.

The motif has been tried and tested in the history of salvation for centuries (just think of the stable in Bethlehem) - it has lost none of its fascination.

At the German racing bike manufacturer

Canyon

, the garage is a blue car trailer from which the father of today's boss

Roman Arnold

sold bicycle parts in the 1980s.

Today Canyon is one of the world's largest bicycle retailers.

The business with high-tech racing machines is booming.

Now a group of prominent investors, including Apple veteran and iPod inventor

Tony Fadell

, have big plans.

Canyon has great products, enthuses Fadell, he brings "the West Coast mindset" with him.

Which brings us back to the story of the garage.

Read the full story here.

Icon: enlarge

Outlier

: Entrepreneur

Roman Arnold

is now planning electric vehicles with Canyon

Photo: 

Katrin Binner for manager magazin

The most important economic topics of the day:

  • US President

    Joe Biden

    can record the first major success of his term in office: After all chambers had approved, he signed the

    $ 1.9 trillion

    corona aid package.

    It should help to revive the country's economy.

    "It is never a good bet to bet against the American people. This country is coming back," Biden announced a little pathetically in his first televised address to the nation.

    The first direct payments of $ 1,400 to Americans are expected this weekend - enough to rent a garage.

  • So much money will have an impact far beyond the borders of the United States.

    Demand is being driven elsewhere too, thanks to fiscal rocket fuel.

    But - as an analysis from the current "

    Economist

    " shows, which we would like to present to you - the rest of the world will not be able to keep up with the pace.

    Joe Biden's Bet.

  • Money blessing also at

    Deutsche Bank

    .

    Hardly in the black when the institute rewards its top people.

    Christian Sewing's

    board of directors

    gets more (Sewing's total remuneration increases by 50 percent to 7.4 million euros) - and especially the reinvigorated investment bankers can look forward to bonuses.

    The result: Hundreds of new income millionaires in Deutsche Bank.

  • The perfumery chain

    Douglas

    , headed by

    Tina Müller

    , is getting fresh money to refinance debts of around 2.1 billion euros.

    Owner

    CVC

    , who is aiming for Douglas to return to the stock exchange, is also one of the financiers.

  • On the

    stock exchanges

    , prices fell a little today, but at the end of the week the Dax remained up by four percent.

What else was on our mind:

  • As

    is well known, an intense election campaign has broken out for

    the chairmanship of the

    OECD

    , the head of the most important think tank in the developed economies.

    Sweden's candidate

    Cecilia Malmström

    was considered the favorite for the OECD top job.

    Your Australian rival

    Mathias Cormann

    has now managed to win the race.

  • The

    Frankfurt Higher Regional Court

    does not regard the now notorious "Cum-Ex" share transactions as just tax evasion.

    According to the court, there is an urgent suspicion of commercial gang fraud and tax evasion.

    That has consequences.

My recommendations for the evening:

Icon: enlarge

Tick-tack tech:

VW brand boss

Ralf Brandstätter

is just one of the tech preachers.

Photo: Peter Hartenfelser / imago images / Hartenfelser

  • With all his might and above all a lot of money, CEO

    Herbert Diess is

    currently converting

    the

    Volkswagen

    group into a tech company.

    At the beginning of March, VW brand boss

    Ralf Brandstätter presented

    the multi-billion dollar plans of the group in concrete terms.

    It all sounded very much like the future, but it still felt like a lot of hope: The company wants to earn money with data and offer its customers software services in the future, also for money, of course.

    The terms tech and software play a role in almost everything that the largest German industrial group and practically all other German industrial strategists are currently communicating.

    Will the strong industrial core of Germany make the leap into the tech and software age?

    Or will the country become an industrial museum?

    Where are the former and current flagship companies such as

    Bosch, BMW, Daimler, SAP, Siemens

    or

    Thyssenkrupp

    ?

    My colleagues Michael Freitag, Martin Noé and Sven Clausen discuss these questions in our weekly podcast "Das Thema", which I would like to bring to your ear.

  • And here's a tip from the American economist, business trainer and keynote speaker

    Deborah Grayson Riegel.

    The spring-like temperatures draw us to nature for a walk.

    Out of the home office, away from the desk, that sounds tempting.

    At the weekend anyway, but also as a resolution for the coming working week.

    Because you can also use the time out outdoors for your work.

    Why walks are important.


Stay healthy, cordially, your Lukas Heiny

Source: spiegel

All news articles on 2021-03-12

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