Economy
Germany's services sector remained in contraction for a third consecutive month in June, although the pace of decline eased as cost pressures moderated and business activity proved more resilient than initially estimated. The latest HCOB Germany Services Purchasing Managers' Index (PMI), compiled......
The German government has introduced a broad package of structural reforms aimed at strengthening the country’s economic performance, improving labour market efficiency and reducing administrative burdens, as Chancellor Friedrich Merz seeks to position Europe’s largest economy for long-term......
Deutsche Bank has reached a new wage agreement with labour unions covering thousands of employees at its Postbank division, concluding months of negotiations over pay increases in Germany’s banking sector. The deal provides structured salary rises for employees over a 28-month period, easing tensions......
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......
The United States government has opened an official investigation into Germany’s pharmaceutical pricing policies, in a move that could potentially lead to the imposition of new tariffs on medical products. The inquiry, announced by the Office of the United States Trade Representative (USTR), will......
Germany is in discussions over whether to extend a temporary waiver on its national oil reserve requirements, according to the country’s economy ministry, amid ongoing concerns about global energy stability. The waiver, introduced earlier this year, allowed Germany to partially reduce its mandatory......
German specialty chemicals group Evonik has announced plans to eliminate 3,200 jobs worldwide by 2029 as part of an expanded restructuring programme aimed at improving efficiency and adapting to challenging global economic conditions. The company stated that the job reductions will include approximately......
Swedish private equity firm EQT has announced the acquisition of Berlin-based space company Exolaunch, a key player in satellite deployment services that collaborates with major rocket operators, including SpaceX. The deal marks EQT’s first major investment in the space sector and reflects growing......
Germany has reached a significant milestone in its payment landscape, as cashless transactions have surpassed cash payments for the first time. The shift marks a major change in consumer habits in a country that has traditionally been known for its strong preference for cash. According to data released......
Germany’s economic recovery is expected to remain modest in the coming years, as rising energy costs linked to geopolitical tensions continue to weigh on inflation and household spending, according to a new forecast from the RWI economic institute. The institute projects that Germany’s gross......
European Central Bank policymaker Joachim Nagel has cautioned that inflationary pressures in the Eurozone are likely to remain elevated even if the Strait of Hormuz reopens in the near term, highlighting the ongoing risks linked to global energy markets. Nagel noted that any improvement in oil supply......
Germany’s economic recovery is expected to remain weak and gradual, as high energy and commodity costs continue to pressure growth, according to the country’s economy ministry. In its latest monthly report, the ministry indicated that the German economy is likely to expand only modestly......
