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Economy

More job cuts on the way as German economy struggles to recover

After the news that Europe's largest car producer VW may close two plants, experts are sounding the alarm that the downsizing of manufacturing isn't just limited to the car industry. The German Institute for Economic Research (DIW) says companies need to evolve.

Business

VW workers blast management amid potential plant closures

The Volkswagen works council criticised the executive board for suggesting plant closures and threatening job security, as Volkswagen's Chief Financial Officer says the company may not survive the transition to electric cars unless it cuts costs.

Economy

Why are German stocks at record highs despite looming recession?

The DAX hit record highs, defying Germany's grim economic outlook. Despite a recession risk, SAP's AI-driven growth has significantly boosted the index, contrasting sharply with the decline in major automotive stocks.

Economy

Germany’s inflation rate tumbles to the lowest levels since March 2021

Germany's inflation rate dropped to 1.9% in August 2024, the lowest since March 2021, boosting expectations of ECB rate cuts. The euro and Bund yields fell, while the DAX index hit record highs.

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Economy

Economic sentiment lifts as services rebound - Dax hits record highs

A robust services sector and better employment prospects helped lift economic sentiment in the eurozone and European Union in August. The DAX hit record highs as inflation fell across German states.

Business

Germany’s business climate hits crisis-like levels as the DAX falters

The declining business climate in Germany was exacerbated by employment falling at the fastest rate in four years.

Economy

Eurozone business activity sees Olympic boost, but Germany contracts

Eurozone business activity expanded in August, driven by a surge in the services sector, notably in France due to the Olympic Games. However, manufacturing continued its contraction, and Germany's private sector economy worsened, raising concerns about a potential recession.

Economy

Eurozone growth unchanged but Germany's industrial sector still weak

Germany's surprise contraction in the second quarter this year was mainly due to a halt in equipment and buildings investments, as the industrial sector continues to weaken under pressure from rising interest rates.

Economy

Germany's economic sentiment crashes in August, dragging eurozone down

Germany and the eurozone's economic sentiment plunged in August, driven by global trade slowdown, stock market turmoil, and Middle East tensions.

Business Series

Mercedes misses revenue targets: Why the car industry is faltering

Mercedes-Benz's revenue fell short of expectations in the second quarter of 2024. The German luxury carmaker anticipates continued weak demand and has adjusted its margins guidance downward.

Economy

Germany's business climate worsens in July: European stocks plunge

Germany's business sentiment worsened more than expected in July, marking the second consecutive monthly decline, bolstering fears that the Eurozone's largest economy is once again under pressure.

Markets

Shares of German tech giant SAP soar after upbeat Q2 2024 results

SAP's Q2 2024 results show a 10% revenue increase to €8.29 billion, driven by a 25% rise in cloud revenue. Shares opened 5% higher, hitting record highs.

Economy

Producer prices in Germany decline due to lower energy costs

June’s fall was primarily due to the prices of energy, such as natural gas and electricity falling, as well as the costs of intermediate goods decreasing too.

Economy

Germany approves draft 2025 budget: Funds to Ukraine halved

The German government endorses a draft 2025 budget with €481 billion in spending, including €78 billion for investments. The budget allocates €75.3 billion for NATO's defence spending target, but halves funds to Ukraine.

Economy

Germany's economic sentiment slips: Is recovery at risk?

Germany's ZEW Economic Sentiment Index fell from 47.5 to 41.8 in July, missing forecasts and ending an eight-month of consecutive increases. Factors such as declining exports, political uncertainty in France, and unclear ECB monetary policy contributed to the decline.

Business

Discussions under way to split owner of Politico and Business Insider

The media conglomerate currently owns German publications Bild and Die Welt, along with US sites Business Insider and Politico. The company also unsuccessfully tried to buy the Financial Times in 2015.

Markets

Germany’s sale of seized Bitcoin could be dampening BTC prices further

The German government seized a quantity of Bitcoin cryptocurrency from Movie2K, a film piracy website in January. Since it started selling off the confiscated bitcoin, prices have fallen by 15% with some fearing that the slump may continue.

Business

Sanofi eyes €1.3 billion investment in insulin drug plant in Germany

Other healthcare companies such as Daiichi Sankyo have also announced investments in Germany recently, in a positive sign for the ruling coalition government.

Economy

Germans downbeat about the prospects for an early economic recovery

Consumers in Germany are pessimistic and have revealed that they were likely to focus more on saving, and expected to make fewer large purchases in July.

Economy

German wholesale inflation continues to drop on energy price falls

Falling natural gas and electricity prices were the main contributors to May’s figure, as well as the declining cost of intermediate goods.