Sweden slams German ‘green’ energy policy reliance on ‘weather gods’
The recent spike in energy prices has caused diplomatic friction between Sweden and Germany, with Sweden's Deputy Prime Minister Ebba Busch pointing the finger at…
Economy
Latest reporting and analysis on economy.
Cold Christmas for employees at Austrian motorcycle giant KTM as production comes to a halt
The crisis at Austrian motorbike manufacturer KTM is worsening, with the company unable to pay its 6,000 employees the previously promised November and December…
Moody’s hands France surprise downgrade over deteriorating finances
Credit ratings agency Moody's unexpectedly downgraded France's rating on Friday, adding pressure on the country's new prime minister to corral divided lawmakers…
German electricity prices soar to 2022 levels
Energy prices in Germany have returned to 2022 levels, driven by a combination of factors that have exacerbated the energy crisis stemming from the invasion of Ukraine…
Norway mulls cutting electricity links with Europe over price spikes
The spike in European electricity prices on December 12, caused primarily by German electricity imports, has sparked anger throughout northern Europe.
German chemicals giant Evonik says 7,000 jobs on the line
A major restructuring and cost-cutting operation at Evonik, a publicly-listed German specialty chemicals company, could reduce its workforce by one-fifth.
Moldova to declare state of emergency as Russian gas runs out
Moldova will be in a state of emergency for 60 days due to looming gas shortages.
Bribe people €1,000 in fuel to buy electric cars, German Green ministry suggests
Germany's Green-led ministry for economic affairs has argued in favour of bribing consumers with €1,000 in fuel credit to buy a new or used electric car.
EU overregulation gives edge to Russian AI, Moscow bank boss says
Overregulation of artificial intelligence in the European Union has given Russia's technology sector an advantage, a leading Russian banking executive argued.
European electricity prices skyrocket as German renewables fail to deliver power
Prices for electricity in central Europe have skyrocketed to record highs, as German renewable sources fell short of meeting demand.
Bosch, ‘absolutely unbearable,’ to cut up to 10,000 jobs as German economy slows
German industrial giant Bosch will lay off thousands more employees than it had already announced, it said on December 11.
Oil giants backslide on climate commitments, citing profitability drop
TotalEnergies, an energy company headquartered in Paris, has become the latest fossil fuel giant to retreat from its climate commitments, citing disappointing results…
Idiot Tax? Chinese companies use Germany’s ‘green’ rules in suspected €1bn scam
Chinese companies are believed to have scammed the German taxpayer out of around €1 billion using the country's own 'green' rules, a major economic research centre…
German Greens call for relaxing EU emissions fines on carmakers
Germany's Greens party economy minister Robert Habeck has called for the relaxing of fines on automotive emissions that were set to hit European Union carmakers…
‘Keep cash at home due to geopolitical threat’, Dutch banks warn
Dutch Banks will advise people to keep cash at home because of the tense international situation, a spokesperson of the Dutch Banking Association (NVB) has said.
Audi to recall more than 700,000 cars in new blow for owner VW
Audi, a Volkswagen subsidiary, has said it will have to recall hundreds of thousands of cars due to technical issues.
Economic expert dismantles EU’s industrial policy of ‘picking winners and losers’
Jonas Grafström, an economic researcher and visiting fellow at the Oxford Institute for Energy Studies, has written a highly critical report on the European Union's…
High-born French and low-born Italians against Chinese Commies: car wars
European car companies are locked in an increasingly bitter struggle to maintain profits and market share amid a secular downturn in sales of internal combustion…
Turkish construction companies rally on expectations of Syria rebuild boost
Shares in Turkish construction and cement companies surged on December 9, buoyed by expectations they will benefit from rebuilding in Syria after rebels overthrew President…
France claims ‘EC chief betrays European farmers’ with EU-Mercosur
French farmers view the European Union-Mercosur trade deal, endorsed by European Commission President Ursula von der Leyen, as a "betrayal" of European agricultural…
French hard-left chief brands Trump a ‘threat’, accuses US of ‘economic imperialism’ via NATO
French leader of the hard-left La France Insoumise (LFI) party Jean-Luc Mélenchon has criticised US President-elect Donald Trump, describing him as "a threat" and…
Greta Thunberg: ‘Fuck Germany! And fuck Israel!’
Swedish climate activist Greta Thunberg has been filmed laughing and talking to a crowd, shouting at one point, "Fuck Germany! And fuck Israel!
Tension between Brussels and airlines over cabin-baggage charges
Apostolos Tzitzikostas, European Commissioner for Sustainable Transport and Tourism, has met with the Spanish Minister of Transport, Óscar Puente, to discuss a…
Largest tender process for offshore wind in Danish history ends in failure
The Danish wind industry has taken a hit after not a single bid was received for tenders for three offshore wind farms in the North Sea.
EC chief von der Leyen in Uruguay to push EU-Mercosur wrap-up amid French opposition
European Commission President Ursula von der Leyen has arrived in Uruguay, signalling a last effort to finalise the long-delayed European Union-Mercosur trade agreement.
Airbus to cut more than 2,000 jobs across Europe, including almost 700 in Germany
Airbus has announced it is cutting more than 2,000 jobs across Europe within its Defence and Space division, citing economic challenges and intensifying competition…
Trump can make world energy prices tumble, hitting Putin hard
A negotiated peace between Russia and Ukraine shortly after Donald Trump takes office in January of 2025 seems more and more likely.
UK pays £1 billion to turn off wind farms
Problems and difficulties in managing the electric grid have forced the UK government to spend £1 billion (€1.21 billion) so far this year to cut wind farm output.
ECB’s Lagarde sees weak growth, dominated by downside risks
Eurozone economic growth could be weaker in the months ahead and the medium-term outlook is uncertain with downside risks dominating, European Central Bank President…
Germany to see weakest growth of all industrialised countries in 2025, says OECD
Germany, traditionally the engine of the European economy, will have the weakest growth of all industrialised countries in 2025, the Organisation for Economic Co-operation…