Trump Tariffs: EU Seeks Permanent Exemption
European Union leaders called on Friday for a temporary exemption from U.S. import duties on steel and aluminium to be made permanent, saying they reserved the right to respond in an "in a proportionate manner" to protect the bloc's interests. The 40-day exemption granted by Washington was like U.S. President Donald Trump "putting a gun to our head", Belgium's prime minister complained. The EU's trade negotiator demanded that the United States drop "artificial deadlines". Trump said on Thursday he would suspend tariffs for the EU…
Merkel Visit aims to Soothe EU Migrant Tensions
German Chancellor Angela Merkel will use a visit to Turkey this weekend to try to soothe tensions over a deal meant to stem the flow of migrants to Europe as questions about its effectiveness and long-term viability mount. The pact, which came into force almost three weeks ago, aims to help end the chaotic arrival of migrants and refugees on the Greek islands, many fleeing war and poverty in the Middle East and Africa. More than one million reached Europe last year. The deal initially slowed the numbers of new arrivals to Greece sharply, but boats have been coming again with about 150 people a day, indicating the "hermetic sealing" of the route appears to be over, the International Organization for Migration (IOM) said.
Siemens Unveils Overhaul, Confirms Rolls-Royce Buy
German conglomerate Siemens announced a corporate overhaul on Tuesday which will streamline the structure of the company into nine divisions, see its healthcare business managed separately, and its audiology activities publicly listed. In a statement, the Munich-based group also confirmed it was buying the energy business of Rolls-Royce for roughly 950 million euros. The restructuring steps are part of a new strategy to be unveiled by Chief Executive Joe Kaeser on Wednesday in Berlin. The company said the measures, which include a streamlining of human resources and communications functions, would increase productivity by 1 billion euros per year, effective from the end of fiscal 2016. (Reporting by Noah Barkin)
Somali Pirate Sentenced to 12 Years by German Court
A German court sentenced a Somali asylum-seeker to 12 years in jail on Thursday, for his involvement in the pirate hijacking of a tanker in the Indian Ocean in 2010. The judge in the Osnabrueck court in northern Germany said the man was guilty of kidnapping and severe extortion. The ship was released for a ransom of $5.5 million after eight months in the hands of Somali pirates. "After four months of extensive evidence gathering, the court is convinced that the 44-year-old Somalian was a leading member of the pirates who kidnapped a chemical tanker," said the court in a statement. The man was not named. German courts do not usually provide the full names of defendants.
