GERMANY
Dollar stuck near 5-month low, struggles to shake off growth concerns
The U.S. dollar remains near a five-month low against the euro and other major currencies due to fears of an economic slowdown from President Trump's tariff policies. The dollar index has dropped 6% since January. Investors are awaiting guidance from the Federal Reserve's upcoming meeting and Germany's vote on a significant stimulus package.
Audi announces massive job cuts, sends big message to luxury car industry
Audi employs about 88,000 people worldwide, including 55,000 in Germany.
India is exporting metro coaches, locomotives, and bogies: Ashwini Vaishnaw
India is exporting Metro coaches to Australia and propulsion systems to several countries including France and Germany, according to Union Railways Minister Ashwini Vaishnaw. He highlighted increased safety with a 90% reduction in railway accidents since 2014 and mentioned that Indian Railways fares are among the lowest globally.
European shares little changed on trade war jitters
European shares were largely unchanged on Monday as investors started the new trading week with slight caution around the escalating trade war, while focus remained on the week's upcoming parliamentary vote on Germany's debt reform deal.
Countries that offer extended Work Visas for international graduates
Extended work visas provide Indian students the opportunity to stay and work in their study destination countries. Popular options include the UK, Germany, Canada, Australia, New Zealand, Ireland, and the Netherlands, among others, offering pathways for a seamless transition from education to long-term career success.
IndoPac security, terrorism in focus at global intel chiefs' meet; Bangladesh also on agenda
Global intelligence chiefs are meeting in New Delhi for an annual conference hosted by NSA Ajit Doval, focusing on Indo-Pacific security, terrorism, and extremism. Notable attendees include Tulsi Gabbard, director of national intelligence, alongside intelligence heads from over 20 countries, including Canada, Britain, Australia, Germany, Russia, and Saudi Arabia. Bilateral meetings, including one between Doval and Gabbard, are also scheduled.
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Spurred by Trump turnabout, European nations debate conscription
European countries are reconsidering compulsory military service as they face the threat of Russian aggression and potential US security withdrawal. Fears heightened after Russia's invasion of Ukraine and changes in US foreign policy, pushing nations like Poland, France, and Germany towards boosting defense efforts.
Charting the global economy: Tariffs fuel US inflation concerns
US consumers are increasingly anxious about the impact of rising tariffs, with both sentiment and long-term inflation expectations deteriorating. The UK economy contracted unexpectedly at the year's start, and China’s economy continues to struggle with deflation. Other global economies, including India and Japan, also face economic challenges.
Dad’s life changes after sandwich incident leads to devastating cancer diagnosis
39-year-old landscape contractor Des Longstaff’s life took a devastating turn when he struggled to swallow a bacon and sausage sandwich, leading to a diagnosis of stage-four oesophageal cancer that has spread to his liver. Given just 12 months to live, he is undergoing immunotherapy and chemotherapy to slow the cancer’s progression. Seeking hope beyond the NHS, Des and his family have launched a GoFundMe campaign to fund alternative treatment in Germany, which could extend his life expectancy.
ET Graphics: Diesel runs aren't over yet
The share of diesel-powered cars and utility vehicles in passenger vehicle sales across India and three major auto markets—Germany, Japan, and Canada—increased in 2024 compared to the previous year, according to data from S&P Global Automotive. This growth comes despite the rising push for electric and hybrid vehicles, as policymakers remain committed to cutting carbon emissions and reducing reliance on fossil fuels.
BMW expects 1 billion euro hit to earnings as tariff war escalates
BMW anticipates trade tariffs will cost the company 1 billion euros in 2024, impacting its earnings margin. Tariffs, including 25% on steel and aluminium, and import tariffs on BMW vehicles to the U.S., are affecting global trade. Net profit fell by over a third due to weak sales in China and Germany. Investors were disappointed by the lower-than-expected margin forecast.
German city 'seismograph' for far-right AfD surge
The far-right AfD party achieved a significant victory in the recent German elections, particularly in the ex-communist east. Voters expressed ongoing grievances about immigration, lack of political representation, and economic disparity. Local voices echoed admiration for nationalist leaders like Donald Trump and dissatisfaction with mainstream parties, highlighting deep-seated frustrations and desires for drastic change.
Its car profits down, Volkswagen has a new idea: Tanks
Volkswagen is considering a shift towards military production as its auto business faces challenges, including high costs and declining profits. CEO Oliver Blume stated the company is open to exploring military vehicle production. This move comes amid increased European military spending and Volkswagen's need to support its struggling business. Potential collaborations with defence companies like Rheinmetall are being discussed.
More kit, better barracks: Germany's military in need of overhaul
Germany plans to significantly boost its military spending to better equip the Bundeswehr amidst a changing global security landscape and reduced US commitments. The focus includes modernizing technology, addressing infrastructure deficiencies, and securing long-term funding. Additionally, Germany may explore collaboration with European nuclear powers for a shared nuclear deterrent.
Global trade to grow despite US tariff policies, says DHL Group CEO
Global trade is expected to grow, though less robustly, influenced by U.S. President Trump's tariff policies. The DHL Trade Atlas projects a 3.1% annual growth rate from 2024 to 2029, with India, Vietnam, Indonesia, and the Philippines leading the growth despite potential tariff impacts.
An unexpected Donald Trump bump for the world's centrists
Global politics are being reshaped by President Trump’s policies, bolstering centrist leaders and destabilizing right-wing populists. Britain's Prime Minister Starmer has gained domestic approval through diplomatic efforts, while his rival Farage faces criticism. Similarly, Trump’s impact is felt in Canada, Germany, and beyond, where mainstream leaders are consolidating power against rising populist forces.
US dollar hits one-week high against Canadian dollar on Trump tariffs
The U.S. dollar rose to a one-week high against the Canadian dollar on Tuesday after President Donald Trump hit Canada with more tariffs while the euro hit a new four-month peak against the U.S. currency on hopes a German defence spending deal.
Report says German military is ageing and shrinking as parties seek funding
Germany's military faces challenges with ageing personnel and falling numbers, despite increased defence spending. A new report highlights that significant funds have already been allocated, but equipment and infrastructure issues persist. Efforts to further boost spending face parliamentary resistance, complicating the path to strengthening the Bundeswehr.
Airport strike to all but freeze German air travel on Monday
More than half a million people are experiencing travel disruptions as a 24-hour strike by German airport workers results in thousands of flight cancellations. The strike impacts 13 airports, including Frankfurt, Munich, Berlin, and Dusseldorf. Verdi union demands an 8% wage increase, while employers deem the request unaffordable. Negotiations are set for later this month.
Flight cancellations at Germany's Hamburg Airport affect more than 40,000 passengers after strike
A surprise strike by workers at Hamburg Airport on Sunday disrupted flights for over 40,000 passengers, with only 10 of over 280 scheduled flights going as planned. The pre-announced wider protest, organized by the ver.di union, is set for Monday at 13 airports across Germany amid ongoing contract negotiations.
Flight cancellations at Germany's Hamburg Airport affect more than 40,000 passengers after strike
Over 40,000 passengers were affected by flight cancellations at Hamburg Airport due to a surprise strike by workers. The strike took place on Sunday, ahead of a broader protest at 13 airports in Germany organized by the ver.di union, to pressure company representatives amid ongoing contract negotiations.
France, Germany, Italy and UK back Arab plan for Gaza reconstruction
The foreign ministers of France, Germany, Italy, and Britain support an Arab-backed $53 billion plan for Gaza's reconstruction, aiming to avoid displacing Palestinians. The plan, proposed by Egypt and adopted by Arab leaders, envisions an administrative committee of independent Palestinian technocrats and excludes Hamas from governance over Gaza.
Frankfurt Airport to be shut on Monday; what international travellers headed to Germany need to know
German trade union Verdi has called a 24-hour strike on March 10, disrupting operations at Frankfurt Airport and other major German airports. Employees from the public sector and ground handling services demand an 8% wage increase. Departures from Frankfurt Airport will be canceled or heavily disrupted, and travelers are advised to check with airlines for rebooking options.
France, UK, Germany urge 'unhindered' access for Gaza aid
France, the United Kingdom, and Germany have jointly urged Israel to ensure the unobstructed delivery of humanitarian aid to Gaza, emphasizing that such aid must not be used as a political tool. They warned that blocking aid could violate international humanitarian law and called for the sustained ceasefire and the release of all hostages.
Tanks not cars: How a pivot to defence could help Germany's economy
German defence companies are shifting capacity from the declining car industry to ramp up military production, driven by Europe's increasing defence spending. Plans involve significant investments and repurposing existing plants, potentially boosting Germany's economy and creating jobs, as European leaders commit to higher defence budgets amid rising geopolitical tensions.
Elon Musk-led Tesla’s sales plummet over 75% in Germany amid political backlash
Tesla's German sales fell by 76 percent in February. The sales have dropped steeply for a second consecutive month. Like Germany, the electric vehicle manufacturer's sales are down across Europe. Analysts blame the fall on Elon Musk's politics, namely his support for far-right parties.
Euro rallies as Germany's historic debt overhaul boosts growth outlook
The euro extended its rally on Wednesday and hovered near four-month highs as Germany's proposed 500 billion euro ($531 billion) infrastructure fund boosted Europe's growth prospects despite global trade tensions worrying investors.
Germany set for massive rearmament as divide with US widens
Germany plans to significantly increase defence spending with 100 billion euros annually, indicating its readiness to strengthen military capabilities and address EU security concerns. The move, led by likely next chancellor Friedrich Merz, marks a significant shift in Germany's fiscal policy and its role in European defence.
Tanks not cars: How a pivot to defence could help Germany's economy
German defence companies are considering repurposing car industry facilities as Europe plans significant increases in military spending. Companies like Rheinmetall and Hensoldt are aiming to expand production by utilizing idle automotive plants and workers, potentially boosting Germany's economy after two years of contraction.
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