Tag #German Economy

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faz.net

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Aug 6, 07:18

German Economists Condemn Unsustainable Pension Plan

German economists Veronika Grimm and Monika Schnitzer criticized the government's pension plan, slated for cabinet approval on August 6th, 2025, for its unsustainable expansion of the mothers' pension and Rente mit 63, calling for reforms linking retirement age to life expectancy and adjusting pensi...

German Economists Condemn Unsustainable Pension Plan

German economists Veronika Grimm and Monika Schnitzer criticized the government's pension plan, slated for cabinet approval on August 6th, 2025, for its unsustainable expansion of the mothers' pension and Rente mit 63, calling for reforms linking retirement age to life expectancy and adjusting pensi...

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What specific reforms do the economists propose to ensure the long-term sustainability of the German pension system?

The criticism highlights the conflict between the government's commitment to social benefits and the need for pension system sustainability. Grimm and Schnitzer advocate for necessary reforms such as linking retirement age to life expectancy, adjusting existing pensions based on inflation instead of wages, and reinstating the sustainability factor. These measures aim to alleviate the burden on younger generations.

zeit.de

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Aug 6, 16:15

Thuringian Businesses Face Closure as Owners Retire Without Successors

In Thuringia, Germany, the successful transfer of Braun & Höfler GmbH to two former employees highlights a broader trend of thousands of businesses facing closure due to retiring owners, particularly in trades like plumbing and mechanics, creating potential economic and social disruptions.

Thuringian Businesses Face Closure as Owners Retire Without Successors

In Thuringia, Germany, the successful transfer of Braun & Höfler GmbH to two former employees highlights a broader trend of thousands of businesses facing closure due to retiring owners, particularly in trades like plumbing and mechanics, creating potential economic and social disruptions.

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What are the immediate economic and social consequences of the predicted closure of thousands of Thuringian businesses due to a lack of successors?

In Elxleben, Germany, Stephan Wreden and Tobias Theis, former employees, took over Braun & Höfler GmbH, a heating company, in 2024. This successful succession contrasts with the thousands of Thuringian businesses facing closure due to retiring owners. The Thuringian Crafts Council considers this a model for successful business transfers.

zeit.de

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Aug 3, 07:12

Hesse Hospitality Suffers Revenue Losses Due to Erratic Summer Weather

Unstable summer weather in Hesse, Germany, caused significant revenue losses for the hospitality sector in May 2025, with businesses in southern Hesse and the Rhine-Main area particularly affected by extreme heat, leading to decreased guest visits and shorter hotel stays.

Hesse Hospitality Suffers Revenue Losses Due to Erratic Summer Weather

Unstable summer weather in Hesse, Germany, caused significant revenue losses for the hospitality sector in May 2025, with businesses in southern Hesse and the Rhine-Main area particularly affected by extreme heat, leading to decreased guest visits and shorter hotel stays.

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How does the current situation in Hesse relate to broader trends in the German hospitality industry?

This weather-related downturn follows a broader trend; May 2025 saw a 4.6 percent drop in real turnover in the German hospitality sector, mirroring a 2.8 percent decrease in Hesse from January to May 2025 compared to the previous year. This adds to the ongoing challenges faced by the industry since the start of the Corona pandemic.

sueddeutsche.de

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Aug 1, 19:16

Daimler Truck Forecasts Significant Sales and Profit Decline, Announces Job Cuts

Daimler Truck's Q2 results showed a 5% decline in sales, a 6% drop in revenue to €11.8 billion, and a 4% decrease in adjusted EBIT to €1.1 billion; the company forecasts an 11% sales decline to 410,000 vehicles and a 13% revenue drop to €44 billion by the end of the year, prompting 2,000 job cuts in...

Daimler Truck Forecasts Significant Sales and Profit Decline, Announces Job Cuts

Daimler Truck's Q2 results showed a 5% decline in sales, a 6% drop in revenue to €11.8 billion, and a 4% decrease in adjusted EBIT to €1.1 billion; the company forecasts an 11% sales decline to 410,000 vehicles and a 13% revenue drop to €44 billion by the end of the year, prompting 2,000 job cuts in...

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What are the key financial projections for Daimler Truck, and what are the immediate consequences of these projections?

Daimler Truck forecasts an 11% decline in unit sales to 410,000 vehicles and a 13% drop in revenue to €44 billion. Operating profit is projected to fall by up to 23%, reaching €3.6 billion. Despite a significant sales decrease, North America remains Daimler's most profitable market, with a projected 10-12% return.

welt.de

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Jul 31, 13:17

ZF Friedrichshafen Continues Job Cuts Amidst Slow E-Mobility Growth

ZF Friedrichshafen, a German auto supplier, is continuing job cuts due to slow e-mobility adoption and US tariffs, reporting a 10.3% revenue drop to €19.7 billion despite an increased adjusted EBIT of €874 million in the first half of 2024. Over 10,000 employees protested against the cost-cutting me...

ZF Friedrichshafen Continues Job Cuts Amidst Slow E-Mobility Growth

ZF Friedrichshafen, a German auto supplier, is continuing job cuts due to slow e-mobility adoption and US tariffs, reporting a 10.3% revenue drop to €19.7 billion despite an increased adjusted EBIT of €874 million in the first half of 2024. Over 10,000 employees protested against the cost-cutting me...

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What is the immediate impact of slow e-mobility growth and US tariffs on ZF Friedrichshafen's workforce and financial performance?

ZF Friedrichshafen, a struggling German auto supplier, announced that job cuts will continue due to slow e-mobility growth and US tariffs, resulting in lower sales and higher costs. Despite a rise in adjusted EBIT to €874 million, overall revenue dropped 10.3 percent to €19.7 billion in the first half of the year, partly due to the sale of its axle assembly unit. The company is accelerating restructuring efforts.

zeit.de

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Jul 30, 10:15

Record €24.8 Billion Deficit Cripples German Municipalities

German municipalities recorded a €24.8 billion deficit in 2024, three times higher than in 2023, primarily due to increased social spending (€85 billion) and personnel costs (doubled in 10 years), despite a 5 percentage point revenue increase. The Bertelsmann Stiftung highlights insufficient federal...

Record €24.8 Billion Deficit Cripples German Municipalities

German municipalities recorded a €24.8 billion deficit in 2024, three times higher than in 2023, primarily due to increased social spending (€85 billion) and personnel costs (doubled in 10 years), despite a 5 percentage point revenue increase. The Bertelsmann Stiftung highlights insufficient federal...

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What is the primary cause of the record €24.8 billion deficit in German municipalities in 2024, and what are its immediate consequences?

German municipalities faced a record deficit of €24.8 billion in 2024, driven by rising social spending and personnel costs, according to the Bertelsmann Stiftung's Kommunaler Finanzreport 2025. This is three times higher than the deficit in 2023, marking a significant reversal from a decade of surpluses. The increase in spending, up 10 percentage points, outpaced revenue growth of 5 percentage points.

zeit.de

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Aug 6, 07:18

US-EU Trade Deal: German Businesses Face Increased Burdens

A DIHK survey shows that the new US-EU trade deal, effective August 7th, is causing major concerns among German businesses; 58% expect increased burdens, while only 5% expect benefits, largely due to higher tariffs, increased bureaucracy, and reduced competitiveness.

US-EU Trade Deal: German Businesses Face Increased Burdens

A DIHK survey shows that the new US-EU trade deal, effective August 7th, is causing major concerns among German businesses; 58% expect increased burdens, while only 5% expect benefits, largely due to higher tariffs, increased bureaucracy, and reduced competitiveness.

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What are the immediate economic consequences for German businesses resulting from the new US-EU trade deal?

A recent DIHK survey reveals that the new US-EU trade deal, while politically necessary, is causing significant concerns among German businesses. 58% anticipate increased burdens, rising to 74% for companies with direct US trade. Only 5% expect positive effects.

taz.de

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Aug 3, 19:17

Küppersbusch on Gaza, Zelenskyy, and German Politics

Friedrich Küppersbusch, in a taz interview, comments on the Gaza conflict, Chancellor Merz's airlift proposal, the resignation of the Green Youth leader, Germany's economic struggles, the acquittal of Querdenker Ballweg, the Ukrainian anti-corruption efforts, the death of Horst Mahler, and the Deuts...

Küppersbusch on Gaza, Zelenskyy, and German Politics

Friedrich Küppersbusch, in a taz interview, comments on the Gaza conflict, Chancellor Merz's airlift proposal, the resignation of the Green Youth leader, Germany's economic struggles, the acquittal of Querdenker Ballweg, the Ukrainian anti-corruption efforts, the death of Horst Mahler, and the Deuts...

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Peace, Justice, and Strong Institutions

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What are the most significant global implications of the ongoing situation in Gaza, and how are world leaders responding?

Last week's negative news included disturbing images from Gaza. This week, the focus shifts to increased visibility of the situation. German Chancellor Merz's proposed airlift for Gaza aims to demonstrate his engagement to both Israel and its critics.

welt.de

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Aug 3, 07:12

Hesse's Hospitality Industry Faces Revenue Losses Due to Erratic Summer Weather

Erratic summer weather in Hesse, Germany, since May 2025, caused significant revenue losses for hotels and restaurants, particularly those dependent on outdoor seating, with smaller businesses and rural areas disproportionately affected; a nationwide trend shows a 4.6 percent decrease in real revenu...

Hesse's Hospitality Industry Faces Revenue Losses Due to Erratic Summer Weather

Erratic summer weather in Hesse, Germany, since May 2025, caused significant revenue losses for hotels and restaurants, particularly those dependent on outdoor seating, with smaller businesses and rural areas disproportionately affected; a nationwide trend shows a 4.6 percent decrease in real revenu...

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What are the immediate economic consequences of the unpredictable summer weather on Hesse's hospitality sector?

The erratic summer weather in Hesse, Germany, significantly impacted the hospitality industry, with extreme heat in southern Hesse and the Rhine-Main area causing many guests to avoid outdoor seating or cancel visits altogether. This particularly affected businesses reliant on terraces or beer gardens. While central and northern Hesse experienced milder temperatures and higher outdoor patronage, all businesses remained heavily weather-dependent.

sueddeutsche.de

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Jul 31, 19:17

ZF Friedrichshafen Reports Loss, Plans Layoffs Amidst Restructuring

ZF Friedrichshafen, Germany's second-largest auto supplier, reported a €195 million first-half loss due to stagnant vehicle production, slow electric vehicle adoption, and US trade uncertainties, prompting intensified cost-cutting and potential layoffs while restructuring its powertrain division.

ZF Friedrichshafen Reports Loss, Plans Layoffs Amidst Restructuring

ZF Friedrichshafen, Germany's second-largest auto supplier, reported a €195 million first-half loss due to stagnant vehicle production, slow electric vehicle adoption, and US trade uncertainties, prompting intensified cost-cutting and potential layoffs while restructuring its powertrain division.

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How does ZF Friedrichshafen's restructuring plan address the challenges of the electric mobility transition and global market conditions?

ZF's restructuring program focuses on its powertrain technology division (Division E), described by the works council as the company's core. An agreement with employees aims to restore profitability by September. While the company hasn't ruled out partnerships to share costs, the immediate priority is internal restructuring of Division E.

welt.de

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Jul 31, 19:17

Germany to Review Social Security System Amid Sustainability Concerns

German Economy Minister Katharina Reiche announced a comprehensive review of the nation's social security system this fall, citing concerns about its long-term sustainability and the need for reforms in response to demographic changes and evolving employment patterns. Chancellor Merz supports this i...

Germany to Review Social Security System Amid Sustainability Concerns

German Economy Minister Katharina Reiche announced a comprehensive review of the nation's social security system this fall, citing concerns about its long-term sustainability and the need for reforms in response to demographic changes and evolving employment patterns. Chancellor Merz supports this i...

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How do the proposed reforms to the social security system connect to broader issues of demographics, immigration, and labor market dynamics in Germany?

The impending review of Germany's social security systems is driven by demographic shifts and evolving employment patterns. Minister Reiche highlights the urgent need to integrate diverse work biographies, address labor demands, and manage immigration effectively to maintain high levels of work productivity. This challenge is intensified by an approaching "tipping point.

taz.de

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Jul 30, 19:17

US Tariffs Trigger German GDP Decline

Germany's GDP fell 0.1 percent in Q2 2025, impacted by newly implemented US tariffs on EU imports ranging from 15 to 27.5 percent, hitting sectors like automotive exports and potentially leading to a third consecutive year of recession.

US Tariffs Trigger German GDP Decline

Germany's GDP fell 0.1 percent in Q2 2025, impacted by newly implemented US tariffs on EU imports ranging from 15 to 27.5 percent, hitting sectors like automotive exports and potentially leading to a third consecutive year of recession.

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What is the immediate economic impact of the new US tariffs on the German economy, and what specific sectors are most affected?

Germany's GDP decreased by 0.1 percent in the second quarter of 2025, following a revised 0.3 percent growth in the first quarter. This slowdown is attributed to the recently implemented US tariffs on EU imports, impacting export-oriented German industries.

Showing 37 to 48 of 560 results