Tag Archives: German

London to lose $900 billion to Frankfurt due to Brexit, German finance group claims

Boris Roessler | Picture Alliance | Getty Images The skyscrapers of Frankfurt’s banking metropolis. London is predicted to lose up to 800 billion euros ($909 billion) of assets by March next year, as banks move their business operations to other hubs before Brexit takes place. Lobby group Frankfurt Main Finance (FMF) released the figure last week, which it calculated based ... Read More »

EU clears German plan for electric vehicle charging network

The European Commission said on Monday it had approved German plans for an infrastructure network for charging electric vehicles across the country. The plan, at a total cost of 300 million euros (255 million pounds) over four years, will require that the electricity comes from renewable energy sources, with contracts awarded through an open tender process. “Electric vehicles can provide ... Read More »

German economy slows in third quarter

Germany’s economic growth slowed in the third quarter of the year, dented by weaker exports, figures have shown. Europe’s largest economy grew by 0.2% between July and September, half the 0.4% rate seen in the previous three months. This was slower than economists had expected and well below the 0.7% rate recorded in the first quarter. “The development of foreign ... Read More »

German economy expecting golden autumn, says Ifo head

German business confidence has rebounded to a two-year high in September, according to the closely-watched Ifo survey. The index, which measures the morale of some 7,000 firms, rose to 109.5, from an upwardly-revised 106.3 in August. “The German economy is expecting a golden autumn,” said Ifo head Clemens Fuest. In August, confidence plunged sharply in the wake of the UK’s ... Read More »

HSBC considers hiking capital of its German unit: exec

HSBC (HSBA.L) is considering hiking the capital of its German unit as it seeks to expand in Europe’s largest economy, according to the head of HSBC Trinkaus (TUBG.D), which is 81-percent owned by the British bank. “If we wants to continue to grow we needs more capital,” Carola von Schmettow said in remarks set for release on Thursday. “I am ... Read More »

German exports fall in July after global demand weakens

German exports fell sharply in July, posting their steepest drop in nearly a year, after the country’s goods saw lower global demand. Seasonally adjusted exports fell 2.6% compared with the month before, the biggest monthly drop since August 2015. The figures from Destatis followed economic data that painted a gloomy picture for German manufacturing. Industrial orders barely rose in July ... Read More »

Slowing German inflation puts pressure on ECB

German annual inflation slowed unexpectedly in August, preliminary data showed on Tuesday, suggesting price pressures in Europe’s largest economy remain weak despite the European Central Bank’s ultra-loose monetary policy. The euro zone has struggled with little or no inflation for the past year, caused mainly by a plunge in oil prices. The ECB expects the bloc-wide figure to stay below ... Read More »

Refugees hold key to German economic growth, IMF says

The International Monetary Fund has urged Germany to do more to help find work for the hundreds of thousands of refugees in the country, saying such moves would help counter the effects of an ageing population. The country should also make the most of low borrowing costs to bolster spending on infrastructure, the IMF said in its annual assessment of ... Read More »

German Economy Minister cancels trip to Iran due to sickness

German Economy Minister Sigmar Gabriel has canceled his planned trip to Iran, saying that he is sick. Reuters reports that he was scheduled to co-chair an economic conference, along with his Iranian counterpart Ali Tayyebnia. There is no information yet about plans to reschedule the event. Germany is looking to increase its exports to the Islamic Republic now that the international sanctions ... Read More »

German resistance grows to London Stock Exchange merger

The London Stock Exchange’s merger with Deutsche Boerse is coming under fire in Germany, with politicians and industry veterans speaking out against the deal amid fears that Frankfurt’s status as a financial hub will be eroded. As both exchanges canvass investors about their £21bn merger, the decision to move the combined group’s headquarters to London while giving the German bourse’s ... Read More »