Germany considers raising retirement age to 70 amid pension system pressure

Germany is reportedly exploring far-reaching reforms to its pension system, including a potential gradual increase in the retirement age to as high as 70, as policymakers seek to address mounting financial pressure caused by demographic change. A government-appointed expert commission, established under Chancellor Friedrich Merz, has proposed......

Germany’s private sector contracts at fastest rate in 18 months, PMI signals weak growth

Private sector activity in Germany weakened further in June, reaching its lowest level in 18 months, as a prolonged downturn in the services sector weighed on overall business conditions, according to a new survey. The latest flash Composite Purchasing Managers’ Index (PMI), compiled by S&P Global, fell to 48.0 in June from 48.8......

Key European powers gather in Berlin to coordinate Ukraine war strategy

A group of leading European political and military powers is set to convene in Berlin on Wednesday, as part of renewed efforts to coordinate strategy on the ongoing war in Ukraine and strengthen the continent’s role in shaping the conflict’s diplomatic trajectory. The meeting will bring together the heads of government of Italy,......

ECB study finds limited impact of AI on US employment and wages so far

The rapid adoption of artificial intelligence across industries is beginning to reshape the US labor market, but fears of widespread job destruction and declining wages have not materialized on a broad scale, according to a new study published by the European Central Bank. The research suggests that while AI is influencing hiring patterns......

Germany prepares to acquire 40% stake in KNDS before major defense IPO

Germany is expected to take a decisive step this week in the future ownership structure of defense manufacturer KNDS, as lawmakers prepare to review a proposal for the acquisition of a 40% stake in the group ahead of its planned stock market debut. According to a report from Germany’s Ministry of Defence, the country’s parliamentary......

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