Germany

Germany’s utilities warn of insolvencies amid energy crisis

DUESSELDORF/FRANKFURT, Sept 14 (Reuters) - Germany's local utilities stand to face insolvencies amid cost pressures from high energy prices and possible defaults of their own clients, the head of the…

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Inflation, contraction to plague German economy in 2023 -Ifo

BERLIN, Sept 12 (Reuters) - Germany's economy will contract next year as a dramatic rise in energy costs due to the war in Ukraine extinguishes the chances of recovery after…

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Germans switch to costly fan heaters as gas shortage fears bite

FRANKFURT, Sept 11 (Reuters) - Germans could overload their power grid as they switch to inefficient electric heaters in an attempt to avoid gas shortages this winter, utilities warned in…

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Rising energy prices threaten backbone of German industry – survey

BERLIN, (Reuters) - More than 90% of medium-sized German companies see rising energy and raw materials prices as a major or existential threat, a survey showed this week, highlighting the…

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Women make small gains in leadership of private German banks

FRANKFURT (Reuters) - Women made up 35.2% of leadership positions at private banks in Germany in 2021, figures from the bank employment lobby AGV Banken showed on this week, as…

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France, Germany pledge unity to support economy against inflation

France and Germany pledged on Friday to act together to protect households and companies from soaring energy prices, while also using fiscal policy to fight record high inflation. French Finance Minister Bruno Le…

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Germany to introduce ‘green card’ to bolster workforce

The German government is introducing its own version of a "green card", the Chancenkarte (literally "opportunity card"), in an attempt to plug its desperate labor shortage. Industry associations have been complaining…

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Germany’s IfW predicts recession, record inflation for 2023

BERLIN, Sept 8 (Reuters) - Germany's IfW economic institute sharply lowered its forecast for the German economy next year, predicting that it would shrink due to high energy prices as…

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Germany to subsidise basic level of power for homes, businesses – ministry paper

BERLIN, Sept 8 (Reuters) - Germany plans to subsidise a basic level of electricity usage for households and set aside cheaper power for small and medium-sized businesses, according to measures…

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Deutsche Bank CEO warns on recession, China and U.S. banks

FRANKFURT, Sept 7 (Reuters) - Deutsche Bank chief Christian Sewing, painting a bleaker assessment of the Germany economy, on Wednesday warned that China was a considerable risk for the nation…

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Lufthansa to make pilots new offer in wage dispute as union plans strike

German airline Lufthansa said it would make an improved offer to pilots on Tuesday in a bid to stop an escalation of a wage dispute after the union said it would go…

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Germany keeps two nuclear reactors on standby to weather gas crisis

Germany plans to keep two of its three remaining nuclear power stations on standby, beyond a year-end deadline to ditch the fuel, to ensure enough electricity supply through the winter…

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German services sector stumbles as soaring inflation hits confidence – PMI

BERLIN, Sept 5 (Reuters) - Germany's services sector contracted for a second month running in August as domestic demand came under pressure from soaring inflation and faltering confidence, a survey…

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Germany says it will expand military presence in Indo-Pacific

BERLIN (Reuters) - Germany will expand its military presence in the Indo-Pacific by sending more warships and joining drills with allies as it keeps an eye on the "enormous" build-up…

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Germany’s Scholz announces 65 bln euro inflation-busting package

BERLIN, Sept 4 (Reuters) - Germany will spend a further 65 billion euros ($64.7 billion) on shielding customers and businesses from soaring inflation, Chancellor Olaf Scholz said on Sunday, two…

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Rhine water holds above crisis levels in Germany, but could drop again

HAMBURG, Sept 2 (Reuters) - Water depths on the river Rhine in Germany remained stable this week, holding above recent crisis low levels after rain, but dry weather could mean…

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Germany: Issue of WW2 reparations is closed

BERLIN, Sept 1 (Reuters) - The question of reparations has been concluded, a spokesperson for Germany's foreign ministry said after Poland estimated its World War Two losses caused by Germany…

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German retail sales unexpected rise in July

BERLIN, Sept 1 (Reuters) - German retail sales rose unexpectedly in July, as online retail and the food sector showed recovery, data showed on Thursday. Retail sales increased 1.9% in…

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German ramps up military exports, mainly to arm Ukraine

BERLIN, Aug 31 (Reuters) - German exports of military equipment have surged so far this year as Berlin supplies arms to Ukraine to help it defend itself against Russia's attack,…

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German unemployment again rises in August due to Ukrainian refugees

BERLIN, Aug 31 (Reuters) - German unemployment rose in August, Labour Office figures showed on Wednesday, driven primarily by a large number of Ukrainian refugees entering the system and the…

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Germany’s SPD plans new steps to ease energy price impact, document shows

BERLIN, Aug 28 (Reuters) - Germany's ruling Social Democrats (SPD) will propose further measures to help its citizens cope with rising energy prices, including another discounted national transport ticket, a document seen…

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German government sees problems with coal, oil supplies -document

BERLIN, (Reuters) - Germany's government is concerned about possible problems with the coal supply for power plants in the autumn and winter due to low water levels on the river…

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Germany criticised by FATF over money laundering

FRANKFURT, (Reuters) - Germany has been criticised by a global watchdog for failing to do enough to tackle money laundering, such as by prosecuting very few for the crime despite…

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Ukraine war, energy crisis send German business sentiment to lowest level since June 2020

BERLIN, Aug 25 (Reuters) - German business morale in August fell to its lowest reading since June 2020 amid high uncertainty due to the Ukraine war, the resulting energy crisis…

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Relief as Rhine water rises in Germany, but expected to drop again

HAMBURG, Aug 24 (Reuters) - Water levels on the river Rhine in Germany have risen after recent rain but are expected to fall again with mostly dry weather forecast in…

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War hit to German economy will last years -economist

BERLIN, Aug 24 (Reuters) - The economic impact on Germany of Russia's invasion of Ukraine will last years, influential economist Marcel Fratzscher of the German Institute for Economic Research told…

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Mass fish die-off sparks political row between Poland and Germany’s leaders

The death of thousands of fish in a river bordering Germany and Poland has sparked a political row between the two countries. Scientists are still trying to find an explanation…

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German recession increasingly likely, Bundesbank says

FRANKFURT, Aug 22 (Reuters) - A recession in Germany, the euro zone's biggest economy, is increasingly likely and inflation will continue to accelerate and could peak at more than 10%…

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Record two thirds of Germans unhappy with Chancellor Scholz

BERLIN (Reuters) - Around two thirds of Germans are unhappy with the work of German Chancellor Olaf Scholz and his fractious coalition, which has faced crisis after crisis since taking…

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FACTBOX – Why low water levels on the Rhine river hurt Germany’s economy

BERLIN, (Reuters) - Water levels on the Rhine river are very low because of unusually hot and dry weather, preventing many vessels from navigating the critical European shipping route fully…

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Scholz denounces Russian repression on 2nd anniversary of Navalny poisoning

BERLIN (Reuters) - German Chancellor Olaf Scholz has praised jailed Russian opposition politician Alexei Navalny on the second anniversary of his attempted poisoning and denounced Russia's clampdown on freedom of…

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Seven out of 10 Germans using less energy due to soaring prices -survey

BERLIN, (Reuters) - Seven out of 10 Germans are using less energy due to decades-high inflation in Europe's largest economy while half are spending less on leisure activities, according to…

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German dependence on China growing ‘at tremendous pace’, research

BERLIN, Aug 19 (Reuters) - The German economy became more dependent on China in the first half of 2022, with direct investment and its trade deficit reaching new heights, despite…

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German economic outlook gloomy, finance ministry says

BERLIN, Aug 19 (Reuters) - The economic outlook for Germany, Europe's largest economy, is gloomy due to energy price rises and supply chain disruptions, the Finance Ministry said in its…

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Germany’s Scholz to testify over handling of multibillion-euro tax fraud

BERLIN, Aug 19 (Reuters) - German Chancellor Olaf Scholz is set to testify in front of lawmakers on Friday over his role as Hamburg mayor in tackling a multibillion-euro tax…

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Olympics-Germany may consider Games bid after multi-sport Munich event

Germany is considering bidding for the Olympic Games, a top official suggested, building on the success of an international event in Munich featuring nine sports and using many of the…

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UPDATED: Germany and Israel condemn Palestinian president’s Holocaust remarks

BERLIN/JERUSALEM, Aug 17 (Reuters) - German Chancellor Olaf Scholz voiced disgust on Wednesday at remarks by Palestinian President Mahmoud Abbas that the German leader said diminished the importance of the…

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German wholesale prices post first fall in over 1.5 years

BERLIN, Aug 15 (Reuters) - German wholesale prices fell by 0.4% in July compared with the previous month, the first decline since Oct. 2020, the Federal Statistical Office reported on…

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UPDATED: German energy bills to rise by another 480 euros a year under gas levy

BERLIN, Aug 15 (Reuters) - Germany's incoming gas price levy, which is meant to distribute the high costs of replacing Russian gas among all end-consumers from October, has been set…

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Inflation a growing concern for Germans, poll shows

BERLIN, Aug 12 (Reuters) - Forty percent of Germans - more than ever before - expect to be worse off in a year's time, an opinion poll published on Friday…

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Low Rhine water levels another drain on Germany’s economy

BERLIN/LOBITH, Netherlands, (Reuters) - Already bracing for recession and winter energy shortages, German businesses are grappling with the lack of another precious commodity: rain. Weeks of baking temperatures and scant rainfall this…

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Rushdie told German magazine just weeks ago his life is now ‘relatively normal’

FRANKFURT, Aug 13 (Reuters) - In an interview conducted just weeks before he was stabbed and seriously wounded by an attacker in New York state, author Salman Rushdie said his…

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Public buildings in Germany to be heated to 19° Celsius

BERLIN, Aug 12 (Reuters) - Public buildings in Germany should be heated to a maximum of 19 degrees Celsius (66.2°F) under planned legislation to save energy, the Sueddeutsche Zeitung quoted…

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Mass fish die-off in German-Polish river blamed on unknown toxic substance

BERLIN, Aug 12 (Reuters) - An unidentified highly toxic substance in the Oder river, which runs through Poland and Germany, appears to be the cause of a mass die-off of…

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German ex-chancellor Schroeder sues Bundestag to regain privileges

BERLIN, Aug 12 (Reuters) - Gerhard Schroeder, who has become increasingly derided in Germany for his pro-Russian views, has filed a suit against Germany's Bundestag lower house of parliament that…

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Corruption allegations shake Germany’s public broadcasters

Big questions are again being asked about the future of Germany's public broadcasters after Patricia Schlesinger, director of Berlin's public broadcaster RBB, resigned over mismanagement charges. Until recently, she was…

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German economic situation is deteriorating – FinMin Lindner

BERLIN, Aug 10 (Reuters) - The economic situation in Germany, Europe's largest economy, is deteriorating and the outlook is fragile, Finance Minister Christian Lindner said on Wednesday, defending his plans to raise…

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German finance minister draws up 14 billion eur relief plan – Spiegel

German Finance Minister Christian Lindner plans a 10.1 billion euro ($10.29 billion) relief package to help taxpayers in 2023 which he is set to present next week, the Spiegel news weekly…

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Rhine level in Germany falls again, ships only part-loaded

HAMBURG (Reuters) - Water levels on the Rhine in Germany fell again during hot dry weather over the weekend and cargo vessels cannot sail fully loaded, vessel brokers and commodity…

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German industrial output ticks up unexpectedly

BERLIN, Aug 5 (Reuters) - German industrial production posted an unexpected but modest increase in June, official data showed on Friday, despite supply chain problems weighing on manufacturing. Industrial output grew by…

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UPDATED: BASF may have to cut production due to low Rhine water levels

BERLIN, Aug 5 (Reuters) - German chemicals giant BASF said it could not rule out needing to make cuts to production in the coming weeks due to low water levels on the Rhine…

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Shipping prices rise as Rhine water in Germany falls again, water level hits output at Staudinger 5 and Datteln 4 plants

HAMBURG, (Reuters) - Water levels on the river Rhine in Germany fell again in hot, dry weather this week and cargo vessels are sailing with reduced loads with transport prices rising, vessel…

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Fire erupts at bomb disposal site in Berlin forest

BERLIN, Aug 4 (Reuters) - Some 15,000 square metres of forested area was on fire in western Berlin on Thursday after a fire broke out at a bomb disposal site…

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German exports surge to record level in June

BERLIN, Aug 3 (Reuters) - German exports beat forecasts with 4.5% growth in June, hitting a record level thanks to demand from the European Union, the United States and China, data showed on Wednesday.…

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Ukraine gets more U.S., German rocket launcher systems – minister

Ukraine has received more German and U.S.-made multiple rocket launcher systems, part of a series of deliveries of the high-precision heavy weapons promised by its allies, its defence minister said on…

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Lufthansa pilots vote for industrial action over pay

BERLIN, July 31 (Reuters) - Pilots at German flagship carrier Lufthansa LHAG.DE voted on Sunday by a margin of 97.6% in favour of industrial action, threatening further disruption during the busy summer travel season.…

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Rhine level in Germany falls again, vessels only part-loaded

HAMBURG, (Reuters) - Water levels on the Rhine in Germany have fallen again with vessels often sailing only half full and prices for cargo transport rising, commodity traders and shipbrokers said. Shallow…

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