Hours before the Wisconsin primary, it’s clear Ted Cruz is way out in front as GOP favorite. He has collected endorsements from the party insiders like other people collect stamps. But Cruz shouldn’t get ahead of himself: He’s not the new leader of the conservatives, just their bazooka.
By the way Donald Trump: In today’s Handelsblatt Global Edition my colleague Hans-Jürgen Jakobs tells us how the presidential hopeful started out as construction tiger in Germany in 2000 – but ended up as a bedside rug.
Together with a local partner, Ulrich Marseille, “Trump Deutschland AG” planned a 150-meter-high skyscraper on Berlin’s Alexanderplatz, a “Trump Tower Europe” on the Main River in Frankfurt and a 220-meter-tall building in Stuttgart. None of the projects came off. Today, Marseille remembers Trump as: “friendly, vain and pushy.”
Today, Marseille remembers Trump as: “friendly, vain and pushy.”
The first airplane with new refugees from Turkey has landed in Germany. In return, the Greek government has begun sending back refugees from their shores to Turkey. Europe has started a new business venture – the export and import of devastated people. Unfortunately for them, the lofty yields are going to the Turkish dealer.
Looking for a profession with a future? How about becoming a tax and money laundering detective? After the “Panama Papers” leak into the shady world of offshore companies, investigations are being launched around the world. Assets hermetically sealed off are now suddenly open to review and criminal prosecution. The super-rich thought they could fool the drowsy night-watchman state – only to find it had one eye open.
Rising sales, more profits, more dividends: Things are looking up for Daimler shareholders ahead of Wednesday’s annual get-together. Rivals at BMW should heed Daimler boss Dieter Zetsche tomorrow.
The super-rich thought they could fool the drowsy night-watchman state – only to find it had one eye open.
Until now, BMW has invested more relative to sales into research and development than Daimler. That’s what Zetsche wants to change: Capital expenditure at Daimler in 2016 and 2017 is to rise to an average €7 billion per year – almost €2 billion more than 2015. R&D will get €600 million more annually. The star isn’t just being polished; it’s being gold-plated.
Everyone seems to agree a Brexit would be bad for the E.U., bad for Britain and bad for London as a financial center. But what would it mean for real estate investors?
If the Brits leave, experts anticipate big banks will pull employees from London. That could send hungry property investors to the Continent, generating demand in finance hubs like Frankfurt and Paris. Maybe Donald Trump should think about a second run at European real estate. It’s never too late to crown yourself “King of Frankfurt.”
The Handelsblatt Morning Briefing Global Edition is an e-mail newsletter sent to your inbox at around 6 a.m. Wall Street time. It gives you the most important news from Germany and Europe, commented by Handelsblatt Publisher Gabor Steingart.