The Halle Institute for Economic Research (IWH) has predicted Germany’s GDP will fall by 0.6 percentage points over 2023, a sharp revision to previous predictions. One of the most-prominent economic organisations on the continent, the IWH has called its new forecast a “strong downward revision” of 0.9 percentage points. It cited a slower recovery in […]
The economies of Europe have proved a drag on worldwide economic growth, according to new work from the OECD. The organisation’s Interim Report September 2023: Confronting Inflation and Low Growth found global GDP advanced at an annualised pace of 3.2% in the first half of the year. While growth was strong in the US and […]
Three major property developers in Germany have gone into insolvency in the space of two months. According to reports from Berlin, Centrum Group, Development Partner and Euroboden have all begun to declare bankruptcy in recent weeks due to financial problems caused by a constraint on the nation’s property markets. A report from Reuters suggested Euroboden […]
The German government has earmarked more than €57bn for green investment over the course of 2024. According to Reuters, the money will be distributed through the Climate and Transformation Fund and includes €18.9bn in subsidies in renovations and new construction. The entire amount is up more than 60% from its 2023 target, noted the German […]
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The Destatis agency said German CPI reached 6.4 per cent in June
Individual investors in Germany have identified inflation as their biggest concern, according to a report from Natixis Asset Managers. Almost three-quarters (71%) of respondents in Germany told the Natixis Global Survey of Individual Investors that inflation was their biggest fear – compared with 58% of respondents globally. This comes at a time when inflation in […]
The lawsuits over UBS’s ‘shotgun wedding’ rescue of Credit Suisse are growing in number. US law firm Quinn Emanuel Urquhart & Sullivan has already been instructed by key holders of Credit Suisse’s ‘additional tier one’ (AT1) capital instruments to represent them in discussions with the Swiss authorities and in any possible litigation. Now, however, it […]
Asset manager DWS has restructured some of its senior management team, reports from Germany have indicated. As reported by the German site Fonds Online, Björn Jesch, the firm’s global head of investment, has seen his duties transferred to Vincenzo Vedda, head of active at the firm, with immediate effect. Fonds Online quoted a message it […]
The implications of UBS’s takeover of Credit Suisse last month is continuing to roil the Swiss financial space, according to reports throughout the country’s media. UBS will look to shed between 25,000 and 36,000 roles within the company, with 11,000 of those being in Switzerland, Sonntags Zeitung has reported. The newspaper went on to note […]
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