CashNews.co “When Valdis speaks, financial markets calm down,” said a former staffer of his. The Brussels bubble is rife with jokes about his somnolent press conferences and robotic demeanor. In his spare time he’s a keen sailor. But as a former finance commissioner and vice president for the economy, almost everyone agrees that he’s a […]
Germany’s Scholz says Intel committed to German site despite delay #NewsGerman
CashNews.co ASTANA (Reuters) -German Chancellor Olaf Scholz said on Tuesday that Intel is committed to its plan to build plants in eastern Germany despite the U.S. chipmaker saying that it is delaying construction by two years as part of its cost-cutting plans. “The decision to postpone the project in Germany for two years is a […]
Intel halts plans for flagship factories in Germany, Poland amid financial woes – Euractiv #NewsGerman
CashNews.co US chipmaker Intel has paused its planned new factories in Magdeburg, Germany and Wrocław, Poland, amid financial woes, in a blow to the EU efforts to build up domestic chipmaking capacity. “We will pause our projects in Poland and Germany by approximately two years based on anticipated market demand,” said Intel CEO Patrick P […]
Intel delays construction of Magdeburg factory – DW – 09/17/2024 #NewsGerman
CashNews.co US chipmaker Intel is delaying the construction of a factory in the eastern German city of Magdeburg, the company announced Monday. The postponement comes amid a struggle within German Chancellor Olaf Scholz’s ruling coalition on how to close a federal budget gap of €12 billion ($13.7 billion). What did Intel say about the delay? […]
Germany’s coalition argues over Intel subsidies in new budget dispute #NewsGerman
CashNews.co BERLIN (Reuters) – A new budget dispute emerged within Germany’s ruling coalition on Monday, with the finance ministry saying funds no longer needed to subsidize Intel’s new chip-making plants should be used to balance the books and the economy ministry pushing back. Berlin had in June agreed subsidies worth nearly 10 billion euros ($11.13 […]
Intel delays Germany, Poland chip factories for two years #NewsGerman
CashNews.co Intel has delayed two mega chip-making factories in Germany and Poland (I-Hwa CHENG) Chip-making giant Intel on Monday said it was delaying its plans to build two mega chip-making factories in Germany and Poland as the company faces lower demand than anticipated. The announcement will come as a major blow to the German and […]
German Banks Urge Ministry to Seize Momentum on Securitization – BNN Bloomberg #NewsGerman
CashNews.co (Bloomberg) — The lobby group representing Deutsche Bank AG and Commerzbank AG has urged the German government to seize on the recent interest in reviving the securitization market as a way to boost lending across the region. European Union rules on securitization scare off investors because they’re overly bureaucratic and make transactions too costly, […]
Berlin says still assessing situation after UniCredit’s Commerzbank purchase #NewsGerman
CashNews.co Berlin says still assessing situation after UniCredit’s Commerzbank purchase XM does not provide services to residents of the United States of America. XM does not provide services to residents of the United States of America. Home Trading Trading At XM we offer Ultra Low Micro and Ultra Low Standard Accounts that can match […]
Italy’s UniCredit raises eyebrows over Commerzbank move – DW – 09/16/2024 #NewsGerman
CashNews.co Why has UniCredit bought a stake in Commerzbank? Germany’s government, which bailed out Commerzbank after the 2008/9 financial crisis by taking a 16.5% stake, tipped off potential buyers last week that it wanted to sell part of its holdings in the country’s second-biggest lender. On Wednesday, Berlin confirmed that UniCredit had outbid other hopefuls to […]
Germany Struggles With Two Terrible Weeks of Bad News – BNN Bloomberg #NewsGerman
CashNews.co (Bloomberg) — Germany muscled its way through the Covid-19 pandemic and managed to avoid a devastating industrial shutdown after Russia cut off its gas supplies. Still, it never fully allayed concerns that economic trouble might lie ahead. The past two weeks provided dramatic evidence that these fears were justified. Elections in the eastern German […]