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While BMW had fewer problems than rivals Volkswagen (VOWG_p.DE) and Daimler DIAGn.DE in selling cars that conform to the new Worldwide Harmonised Light Vehicle Test standards (WLTP), the onset of the rules has led to cutthroat competition, supply distortions and heavy discounting. Separately, BMW said it will purchase specific raw materials such as cobalt, and then make them available to battery cell suppliers as a way to secure a supply of electric car batteries. BMW is establishing a technology consortium with Swedish battery manufacturer Northvolt and Belgium’s Umicore (UMI.BR) to develop a value chain for battery cells in Europe, including development, production and ultimately recycling.
FRANKFURT (Reuters) - German state prosecutors confirmed they searched the Munich offices of investor BlackRock as part of a probe into an illicit tax trading scheme but exonerated the company’s local chairman, who is vying to succeed Chancellor Angela Merkel, The prosecutors are investigating a fraud known as cum-ex that typically involved trading company shares rapidly around a syndicate navy enamel inlaid tie clip cufflinks of banks, investors and hedge funds to create the impression of numerous owners, each entitled to a tax rebate..
On Tuesday, they searched the Munich offices of BlackRock, prompting the globe’s biggest investor to say that it was fully cooperating with the probe of cum-ex transactions between 2007-2011. The search has prompted wide national interest in Germany because Friedrich Merz, a potential successor to Merkel, has held the post of BlackRock’s chairman in Germany since 2016. Merz, who was not there at the time of the trades that are being investigated, said he had ordered the fund’s management board to investigate all incidents involving such cum-ex deals.
“Everything will be investigated and we will actively participate in that,” he said at a political event in navy enamel inlaid tie clip cufflinks the northwestern German city of Duesseldorf on Tuesday, Confirming the search, Cologne prosecutors said on Wednesday that Merz was not suspected of wrongdoing, Merz has taken an early lead in the race to succeed Merkel as leader of Germany’s Christian Democrats and secure the chance of running for chancellor, possibly as soon as next year, Gerhard Schick, a Greens party member of Germany’s parliament, said the case raised the question as to whether Merz had responded promptly enough..
NEW YORK (Reuters) - General Electric Co (GE.N) and other large companies are trying to chip away at rising childbirth costs for U.S. employees, working directly with hospitals to reduce cesarean sections and related complications. The efforts are in very early stages, with few details on their impact outside of cost savings of a few million dollars so far. But they illustrate yet another path companies are taking to bring down U.S. medical costs by working with doctors and hospitals to set health goals.
GE’s maternity strategy is designed to steer its employees to hospitals that are believed to provide better care and less likely to recommend unnecessary and costly interventions, company officials told Reuters, U.S, employer spending on maternity care rose 50 percent in the last decade, fueled by a jump in C-section rates despite years of efforts to curb the practice, according to research firm Truven Health Analytics, For a graphic, see: tmsnrt.rs/2P1MPRs, “Maternity is one of navy enamel inlaid tie clip cufflinks the main drivers of high cost claims,” for employers, said Ellen Kelsay, chief strategy officer at the National Business Group on Health, Avoiding unnecessary C-sections and minimizing complications “decreases turnover in the workforce following the birth of a child,” she said..
General Motors Co (GM.N) said it has included maternity goals, including reducing C-sections, in a new contract with a Detroit-area hospital. Dow Chemical demanded explanations from hospitals that care for its employees when its C-section rate hit 44 percent several years ago. Now part of the merged company DowDuPont Inc (DWDP.N), it is working on new payment agreements with doctors and administrators. “We went to them and said how do you explain this?” said Steve Morgenstern, Dow Chemical’s North American Health and Insurance Plan Leader, who called the rate “unacceptable.”.
GE launched its Maternity Care Select Program in Cincinnati, Ohio, home to its aviation business, where nearly 300 babies are born to employee families every year, Local hospital system TriHealth agreed to a single “bundled” payment rate to care for low navy enamel inlaid tie clip cufflinks and moderate-risk mothers from the start of pregnancy until 90 days after the baby is born, rather than charge for each visit and delivery separately, That typically removes the financial upside for C-sections, which cost nearly 60 percent more, on average, than a regular delivery..