Hanover launches campaign to attract British companies

Updated 08 July 2016
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Hanover launches campaign to attract British companies

BERLIN: The German city of Hanover, best known for hosting trade fairs, has launched a campaign to woo UK companies to move there after Britain’s decision to quit the European Union.
Under the slogan “Remain in the center of Europe — select Hannover,” the Hanover Marketing and Tourism company (HMTG) said it planned advertisements in Britain and mailings to firms as it competed with other cities for British business.
Hanover is the latest German city vying to attract British companies after the June 23 ‘Brexit’ vote cast uncertainty over the future of British trade with the rest of the 28-member bloc.
Cosmetic firms Lush told local British media it will focus on growing its business in Germany following the vote and has plans for a new factory in Duesseldorf.
Frankfurt, Germany’s financial capital, kicked off an image campaign the day after the referendum aiming to court banks and financial institutions considering relocating staff from London.
Berlin’s Senator for Economics, Technology and Research Cornela Yzer has sent letters to British firms and hopes to lure tech firms from London’s start-up scene.
Located in north-central Germany, Hanover has a population of around 520,000 and is home to reinsurer Hannover Re, auto parts and tire maker Continental and European travel group Tui AG.
The marketing authority boasted of “ideal infrastructure connections” such as direct flights to the UK and good rail and road links, as well as “affordable office facilities” as among the reasons to choose Hanover.


Pompeo says China is engaging in ‘predatory economics 101’

Would China have allowed America to do to it what China has done to America asked US Secretary of State Mike Pompeo. (AP)
Updated 18 June 2018
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Pompeo says China is engaging in ‘predatory economics 101’

  • He said China’s recent claims of “openness and globalization” are “a joke.”

DETROIT: China is engaging in “predatory economics 101” and an “unprecedented level of larceny” of intellectual property, Secretary of State Mike Pompeo told a business audience Monday.
Pompeo made the remarks at the Detroit Economic Club as global markets reacted to trade tensions between the US and China. Both nations started putting trade tariffs in motion that are set to take effect July 6.
He said China’s recent claims of “openness and globalization” are “a joke.” He added that China is a “predatory economic government” that is “long overdue in being tackled,” matters that include IP theft and Chinese steel and aluminum flooding the US market.
“Everyone knows ... China is the main perpetrator,” he said. “It’s an unprecedented level of larceny.”
“Just ask yourself: Would China have allowed America to do to it what China has done to America?” he said later. “This is predatory economics 101.”
The Chinese Embassy in Washington did not immediately respond to a request for comment.
Pompeo raised the trade issue directly with China last week, when he met in Beijing with President Xi Jinping and others.
“I reminded him that’s not fair competition,” Pompeo said.
President Donald Trump has announced a 25 percent tariff on up to $50 billion in Chinese imports. China is retaliating by raising import duties on $34 billion worth of American goods, including soybeans, electric cars and whiskey. Trump also has slapped tariffs on steel and aluminum imports from Canada, Mexico and European allies.
Wall Street has viewed the escalating trade tensions with wariness, fearful they could strangle the economic growth achieved during Trump’s watch. Gary Cohn, Trump’s former top economic adviser, said last week that a “tariff battle” could result in price inflation and consumer debt — “historic ingredients for an economic slowdown.”
Pompeo on Monday described US actions as “economic diplomacy,” which, when done right, strengthens national security and international alliances, he added.
“We use American power, economic might and influence as a tool of economic policy,” he said. “We do our best to call out unfair economic behaviors as well.”