Tag #German Economy

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welt.de

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May 14, 13:15

Saxony Attracts €128.5 Million in Investments, Creates 949 Jobs in 2024

Saxony's economy recorded 19 new company settlements and expansions in 2024, attracting €128.5 million in investments and creating or securing 949 jobs, showcasing its resilience amidst global economic challenges.

Saxony Attracts €128.5 Million in Investments, Creates 949 Jobs in 2024

Saxony's economy recorded 19 new company settlements and expansions in 2024, attracting €128.5 million in investments and creating or securing 949 jobs, showcasing its resilience amidst global economic challenges.

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What were the key economic achievements of Saxony in 2024, and what is their significance in the current global economic context?

In 2024, Saxony recorded 19 new company settlements and expansions, resulting in €128.5 million in investments and 949 jobs created or secured. This occurred despite challenging global economic conditions.

welt.de

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May 13, 19:12

Bayer to Close Frankfurt Plant by 2028

Bayer announced it will close its Frankfurt plant by 2028, affecting 500 employees, due to Asian competition, overcapacity, and regulations; the Hessian state government and labor unions strongly oppose the decision.

Bayer to Close Frankfurt Plant by 2028

Bayer announced it will close its Frankfurt plant by 2028, affecting 500 employees, due to Asian competition, overcapacity, and regulations; the Hessian state government and labor unions strongly oppose the decision.

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What are the immediate consequences of Bayer's decision to close its Frankfurt plant, and what is the significance of this action for the German economy?

Bayer plans to close its Frankfurt plant by the end of 2028, impacting around 500 employees. While some jobs may transfer to other locations or be absorbed by a potential buyer, the Hessian state government strongly criticizes this decision, citing principles of social partnership.

zeit.de

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May 13, 19:13

Bayer to Close Frankfurt Plant, Sparking Criticism and Competitiveness Concerns

Bayer announced the closure of its Frankfurt plant, employing around 500 people, by 2028 due to Asian competition, overcapacities, and regulation, prompting strong criticism from the Hessian state government and concerns about Germany's industrial competitiveness.

Bayer to Close Frankfurt Plant, Sparking Criticism and Competitiveness Concerns

Bayer announced the closure of its Frankfurt plant, employing around 500 people, by 2028 due to Asian competition, overcapacities, and regulation, prompting strong criticism from the Hessian state government and concerns about Germany's industrial competitiveness.

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What factors contributed to Bayer's decision to close the Frankfurt plant, and what are the broader implications for German industry?

The closure reflects challenges faced by German industry, including competition from Asia, overcapacities, and increasing regulation. While some jobs may be transferred or the production sold, the decision represents a significant loss for Frankfurt's Industriepark Höchst, which employs 20,000 people in the chemical and pharmaceutical sector. This follows BASF's similar announcement last year.

welt.de

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May 9, 13:19

US-China Trade War Threatens 17,000–25,000 German Jobs

The US-China trade war jeopardizes 17,000–25,000 German industrial jobs, primarily in southern Germany, due to anticipated Chinese export diversions totaling approximately $33 billion USD over three years, according to Allianz Trade analysis.

US-China Trade War Threatens 17,000–25,000 German Jobs

The US-China trade war jeopardizes 17,000–25,000 German industrial jobs, primarily in southern Germany, due to anticipated Chinese export diversions totaling approximately $33 billion USD over three years, according to Allianz Trade analysis.

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What is the immediate impact of the US-China trade war on German employment and which sectors are most affected?

The US-China trade war threatens 17,000 to 25,000 German industrial jobs, primarily in southern Germany's manufacturing hubs like Oberfranken, Tübingen, and Freiburg, according to Allianz Trade. This is due to anticipated Chinese export diversions to the European market, spurred by 145% US tariffs on Chinese goods.

welt.de

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May 9, 13:19

Bafin Warns of Economic, Geopolitical Risks to German Financial Stability

Bafin chief Mark Branson voiced concerns at a press conference about the impact of weak German economic conditions and unpredictable US policies on German financial institutions, highlighting rising insolvency rates and shifting investment patterns that could destabilize the market; the Bafin is clo...

Bafin Warns of Economic, Geopolitical Risks to German Financial Stability

Bafin chief Mark Branson voiced concerns at a press conference about the impact of weak German economic conditions and unpredictable US policies on German financial institutions, highlighting rising insolvency rates and shifting investment patterns that could destabilize the market; the Bafin is clo...

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What immediate threats to the German financial sector are highlighted by Bafin chief Mark Branson, and what specific actions is the Bafin taking in response?

The German Federal Financial Supervisory Authority (Bafin) chief, Mark Branson, expressed concerns about the weak German economy and unpredictable US policies, which pose potential risks to the financial stability of German banks, insurance companies and asset managers. While current non-performing loan rates remain low, Branson highlighted the increasing insolvency rates in Europe and Germany, particularly in commercial real estate financing and corporate lending, as areas demanding close monitoring. The unexpected market reaction to potential US import tariffs, deviating from traditional safe-haven investment patterns, further complicates the outlook.

zeit.de

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May 9, 16:19

Schleswig-Holstein to receive €521 million in additional debt for infrastructure

Germany's federal states agreed on a plan to increase their debt capacity for infrastructure projects. Schleswig-Holstein will receive an additional €521 million annually, based on the Königsteiner Schlüssel, a formula considering tax revenue and population.

Schleswig-Holstein to receive €521 million in additional debt for infrastructure

Germany's federal states agreed on a plan to increase their debt capacity for infrastructure projects. Schleswig-Holstein will receive an additional €521 million annually, based on the Königsteiner Schlüssel, a formula considering tax revenue and population.

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What is the immediate financial impact of the debt agreement on Schleswig-Holstein?

Schleswig-Holstein will be able to take on an additional €521 million in debt annually, representing 0.35 percent of its gross domestic product (GDP). This agreement was reached at a finance ministers' conference, where the federal states decided on a distribution plan for new debt capacity for infrastructure improvements, using the Königsteiner Schlüssel as a basis.",

sueddeutsche.de

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May 13, 01:12

ECB Navigates Uncharted Waters Amidst Trump's Economic Uncertainty

ECB officials Joachim Nagel and José Luis Escrivá discuss the challenges posed by the Trump administration's unpredictable economic policies, emphasizing the need for cautious monetary policy and highlighting the importance of maintaining central bank independence and European Union cohesion.

ECB Navigates Uncharted Waters Amidst Trump's Economic Uncertainty

ECB officials Joachim Nagel and José Luis Escrivá discuss the challenges posed by the Trump administration's unpredictable economic policies, emphasizing the need for cautious monetary policy and highlighting the importance of maintaining central bank independence and European Union cohesion.

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How is the unpredictability of the Trump administration impacting the European Central Bank's monetary policy decisions?

The unpredictable decisions of the Trump administration are creating a complex economic environment, making monetary policy decisions significantly more challenging for the European Central Bank (ECB). The ECB is prioritizing data-driven, incremental adjustments to interest rates due to the high level of uncertainty.

welt.de

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May 13, 16:11

Saxony-Anhalt Demands Urgent Economic Policy Shift

Saxony-Anhalt's Minister of Economic Affairs, Sven Schulze (CDU), calls for a rapid change in the new federal government's economic policy due to high energy prices and the struggling automotive supplier industry, while opposition parties criticize the government's approach and offer alternative sol...

Saxony-Anhalt Demands Urgent Economic Policy Shift

Saxony-Anhalt's Minister of Economic Affairs, Sven Schulze (CDU), calls for a rapid change in the new federal government's economic policy due to high energy prices and the struggling automotive supplier industry, while opposition parties criticize the government's approach and offer alternative sol...

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What immediate actions are being proposed to address the economic challenges faced by German businesses, particularly in Saxony-Anhalt?

We need to get back to a point where businesses are successful because they are based in Germany, not despite being based in Germany." This statement by Saxony-Anhalt's Minister of Economic Affairs, Sven Schulze (CDU), highlights the urgent need for a change in German economic policy. He plans to hold an automotive supplier summit next week to address the industry's need for support, reflecting the immediate crisis facing the sector.

welt.de

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May 12, 16:10

Bafin Lowers German Real Estate Loan Risk Surcharge Amid Market Recovery

Germany's financial regulator, Bafin, lowered the risk surcharge for real estate loans from 2 percent to 1 percent on October 26, 2023, reflecting a stabilizing housing market but acknowledging persistent economic uncertainties and a housing shortage of over 300,000 units annually.

Bafin Lowers German Real Estate Loan Risk Surcharge Amid Market Recovery

Germany's financial regulator, Bafin, lowered the risk surcharge for real estate loans from 2 percent to 1 percent on October 26, 2023, reflecting a stabilizing housing market but acknowledging persistent economic uncertainties and a housing shortage of over 300,000 units annually.

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How does the Bafin's decision balance the need for market stability with ongoing economic risks?

The German financial regulator, Bafin, reduced the risk surcharge for real estate loans from 2 percent to 1 percent, the first such reduction in three years. This follows a period of relatively low interest rates and high customer debt. The reduced risk reflects market stabilization, though uncertainties remain.

welt.de

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May 9, 13:19

Commerzbank's Strong Q1 Earnings Bolster Defense Against Unicredit Takeover

Commerzbank announced record Q1 2024 earnings of €834 million, exceeding expectations despite job cuts and countering Unicredit's takeover attempt; the bank projects a full-year profit of approximately €2.4 billion.

Commerzbank's Strong Q1 Earnings Bolster Defense Against Unicredit Takeover

Commerzbank announced record Q1 2024 earnings of €834 million, exceeding expectations despite job cuts and countering Unicredit's takeover attempt; the bank projects a full-year profit of approximately €2.4 billion.

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What is the significance of Commerzbank's Q1 2024 earnings in relation to Unicredit's takeover bid?

The Commerzbank reported its best quarterly earnings since early 2011, reaching €834 million in Q1 2024, exceeding last year's €747 million. This strong performance offset job cuts and increased personnel costs, exceeding expectations despite decreased interest income. The bank anticipates a full-year profit of around €2.4 billion, or €2.8 billion excluding restructuring charges.

welt.de

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May 9, 16:19

Germany Allocates €100 Billion for Infrastructure Projects

Germany's federal states have agreed to allocate €100 billion in debt-financed infrastructure projects and an additional €15 billion in borrowing capacity, using the Königsteiner Schlüssel formula based on tax revenue and population, with North Rhine-Westphalia receiving the largest share.

Germany Allocates €100 Billion for Infrastructure Projects

Germany's federal states have agreed to allocate €100 billion in debt-financed infrastructure projects and an additional €15 billion in borrowing capacity, using the Königsteiner Schlüssel formula based on tax revenue and population, with North Rhine-Westphalia receiving the largest share.

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What is the immediate impact of the agreed-upon allocation of €100 billion for infrastructure projects in Germany?

Germany's federal states unanimously agreed on a plan to allocate €100 billion in debt-financed infrastructure projects and additional borrowing capacity of €15 billion. The distribution will follow the Königsteiner Schlüssel, a formula based on tax revenue and population, with North Rhine-Westphalia receiving the largest share (€21 billion). This decision aims to address significant infrastructure deficits across the country.",

sueddeutsche.de

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May 8, 07:14

German Construction Association Urges Government for Faster Infrastructure Development

Klaus Rohletter, President of the Rhineland-Palatinate Construction Association, criticized Germany's bureaucratic processes and called for a faster decision-making process and a more proactive approach to infrastructure development, urging the new government to efficiently use its billion-euro infr...

German Construction Association Urges Government for Faster Infrastructure Development

Klaus Rohletter, President of the Rhineland-Palatinate Construction Association, criticized Germany's bureaucratic processes and called for a faster decision-making process and a more proactive approach to infrastructure development, urging the new government to efficiently use its billion-euro infr...

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How does excessive bureaucracy and slow decision-making processes in Germany hinder economic growth, particularly within the construction and housing sectors?

Rohletter advocates for a state-driven demand impulse via the special fund to stimulate private investment in housing, currently lacking due to insufficient private investment. He criticizes excessive bureaucracy, causing project delays and hindering economic growth. The construction industry's readiness contrasts with the slow governmental processes, highlighting a need for faster decision-making and reduced regulation.

Showing 85 to 96 of 481 results