China is not getting away from coal – Handelsblatt Morning Briefing

Climate protection or growth? It is an old conflict that is now becoming abundantly clear in China. The country, which is suffering from power outages, is mining more coal again, securing as many energy resources as possible on the world market and running its coal-fired power plants to full operation. On the one hand this is bad for the world climate, since China causes more than 25 percent of global greenhouse gas emissions, on the other hand it is good for the weakened gross domestic product and satisfaction among the people.

Such calamities will be the subject of the world climate summit in Glasgow at the end of October. Will Beijing continue to cut emissions by 2030 and achieve CO2 neutrality by 2050? The fear of the next blackout precedes all environmental policy ambitions. We remember a saying by Peer Steinbrück: “If someone claims that he sees light at the end of the tunnel, it can happen to him that it is the lights of the oncoming train.”

In Washington, the FBI moved into the villa of the Russian oligarch Oleg Deripaska, a close confidante of President Vladimir Putin. The driveway to Deripaska’s house was blocked with the notice: “Crime scene, do not enter” – “Tatort, do not enter”. A property related to Deripaska was also searched in New York.

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The reason for the raids is believed to be the American sanctions against the Putin intimate, which were imposed in 2018 in response to Russian interventions in the 2016 US election campaign. Deripaska is accused of money laundering, corruption and illegal wiretapping. He tried in vain to end the sanctions in court. Deripaska appears dubious through and through, after all, he loaned Paul Manafort ten million dollars, former head of campaigns for Donald Trump. In other words: Enter your email to sign up for the “Meanwhile in America” ​​newsletter.

Bonjour petitesse: For one Quasi-monopolists like Google are miniature values ​​somewhere between shame, pain and shame. The US giant has Android, one of the two most important operating systems for smartphones, but it only has a homeopathic 0.3 percent market share for devices.

Hardware board member Rick Osterloh is now relying on “Pixel 6”, the youngest mobile phone from our own production. With the new “Tensor” processor, after four and a half years of development work, it is supposed to bring sophisticated applications of artificial intelligence into the telephone, for example for razor-sharp photos. The only thing missing is customer success. Google’s Osterloh declares war on Apple’s iPhone in the Handelsblatt: “We will market the Pixel much more aggressively.”

It is not yet clear whether and how a traffic light coalition will come about. For example, will the Greens foregoing the finance ministry be compensated for with a super climate ministry and the Bundestag presidency? Will the middle-class bogeyman Kevin Kühnert, who will be negotiating on the subject of housing from Friday, be a minister in the end?

As far as the seating arrangements in the new Bundestag are concerned, the SPD, Greens and FDP want to sit together in the middle, left of them Gregor Gysi & Co., right Union and AfD. Too bad that the CDU and CSU do not want to get out of the middle and approach Alice Weidel’s party. CSU politician Stefan Müller railed that the Bundestag seating arrangements were “not a carousel that should be turned around at will.” Yes, but sometimes sitting is political. The FDP has already made the move.

Springer boss Mathias Döpfner wants to work internally on a better corporate culture.

(Photo: Bloomberg)

Yesterday we dealt extensively with the “fourth estate” – the press. Namely with the overthrow of the “Bild” editor-in-chief because of women’s stories of all kinds, which is also a story of his protector, the Springer boss Mathias Döpfner. One reader suggested that we should have looked into the third power, the judiciary. In fact, the story in all media yesterday turned out to be too small, how the Federal Constitutional Court ironed out a petition for bias against its own President Stephan Harbarth.

With the ex-CDU member of the Bundestag, a professional politician came to Karlsruhe again after a long time. It was a bit disreputable that he and other constitutional judges came to the Federal Chancellery for dinner in June. You chatted with fellow party member Angela Merkel and the cabinet about the Corona policy that you have to judge. Regarding the cause of bias, Karlsruhe now decided that the dinner topic chosen at the time, “Decision making under uncertainties”, was diverse and abstract. Wilhelm Busch comments: “As to virtue, as one uses to say / nobody is really in the mood.”

The regional airport Frankfurt-Hahn in Rhineland-Palatinate has filed for bankruptcy.

The fact that an airport in the Rhineland-Palatinate Hunsrück, which is more than 100 kilometers from the Main, is called “Frankfurt-Hahn” is bizarre enough. Now the wondrous airport is even experiencing a double bankruptcy among the seven dwarfs. The rather opaque main shareholder from China, the HNA Group, is at the end and can no longer provide liquidity – and the airport company itself is slipping into bankruptcy because fewer Ryanair flights started due to the pandemic.

An increasing freight business didn’t help either. The state of Hesse, with a 17.5 percent stake, and Rhineland-Palatinate have a block on their feet, after all, subsidies for “Frankfurt-Hahn” are no longer allowed.

And then there are the “lions” from the Vox show “Die Höhle der Löwen” – who now simply don’t do business with start-ups, but prefer to deal with each other. So ex-TV-Zampano Georg Kofler took over the trading company “DS Produkte” of co-juror Ralf Dümmel with his listed, loss-making Social Chain AG for not a mere 220 million euros. One has access to social media channels and “influencers”, the other brings in marketable products and brands. Self-made man Dümmel, whom one calls “Mr. Regal “, formulated in the intoxication of feelings of fusion:” 1 plus 1 is not 2, but 11. ”
For the next balance he will have to calculate better, perhaps like André Kostolany: “On the stock exchange, 2 times 2 is never 4, but 5 minus 1. You just have to have the nerve to endure minus 1.”

I wish you a nervous day.

Greetings you warmly
Hans-Jürgen Jakobs
Senior editor

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