CashNews.co LONDON (Reuters) -Volkswagen plans to shut at least three factories in Germany, lay off tens of thousands of staff and shrink its remaining plants in Europe’s biggest economy as it plots a deeper-than-expected overhaul, the carmaker’s works council head said on Monday. Here are some statements and comments in reaction to the news: VOLKSWAGEN […]
CashNews.co By Maria Martinez WASHINGTON (Reuters) – Progress on European banking union is vital to policymakers’ push to encourage cross-border mergers because banks will only be able to leverage synergies if there is a common market for their services, the head of Germany’s banks’ association said. Designed after the financial crisis, the banking union aims […]
CashNews.co Ailing auto giant Volkswagen plans to close at least three factories in Germany and slash tens of thousands of jobs as part of drastic cost-savings drive, workers’ representatives said Monday, calling the proposed cuts “of historic dimensions”. The plan laid out by management, which affects the namesake VW brand, also includes a 10-percent pay […]
CashNews.co By Axel Schmidt and Christoph Steitz WOLFSBURG, Germany (Reuters) -Volkswagen plans to shut at least three factories in Germany, lay off tens of thousands of staff and shrink its remaining plants in Europe’s biggest economy as it plots a deeper-than-expected overhaul, the carmaker’s works council head said. Europe’s biggest carmaker has been negotiating for […]
CashNews.co By Maria Martinez WASHINGTON (Reuters) – Politicians within Germany’s three-way coalition government should put their differences aside to address the country’s stagnating growth, the president of the German Savings Banks Association (DSGV) told Reuters in an interview. The German economy contracted last year and the government foresees it will shrink again this year, while […]
CashNews.co Stay informed with free updates Simply sign up to the German economy myFT Digest — delivered directly to your inbox. Chancellor Olaf Scholz’s ambitions to turn Germany into a semiconductor powerhouse have suffered a fresh blow after US tech company Wolfspeed shelved plans to build a factory in the country, prompting the opposition to […]
CashNews.co On Friday, German Finance Minister Christian Lindner issued a warning about the dangers of a potential trade war between the United States and the European Union. Speaking at the International Monetary Fund’s annual meeting in Washington, DC, Lindner emphasized that trade conflicts inevitably lead to losses for both sides. He called for diplomatic efforts […]
CashNews.co HE the Minister of Finance Ali bin Ahmed al-Kuwari met separately with Federal Minister of Finance of Germany Christian Lindner and Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance of the Republic of Korea Choi Sang-mok, on the sidelines of the annual meetings of the International Monetary Fund (IMF) and […]
CashNews.co Washington: Minister of Finance HE Ali bin Ahmed Al Kuwari met separately with Federal Minister of Finance of Germany HE Christian Lindner and Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance of the Republic of Korea HE Choi Sang-mok, on the sidelines of the annual meetings of the International Monetary […]
CashNews.co By Maria MartinezWASHINGTON (Reuters) – A trade conflict between the United States and the European Union would not see any winner but only losers, German Finance Minister Christian Lindner told Reuters in an interview. Lindner said he was following the toss-up U.S. presidential race between Republican Donald Trump and Democrat Kamala Harris, and saw […]