Financial Insights That Matter Germany is in a financial pickle of its own making. The coalition government’s attempt to repurpose €60 billion ($65.5 billion) in unused pandemic funds for climate spending was ruled unconstitutional in November, forcing ministers to agree on emergency budgetary cuts, including to electric-vehicle subsidies. The economy is set to more or […]
Financial Insights That Matter EPA Robert Habeck has previously warned that the economic situation in Germany was ‘dramatically bad’ The German economy is in “troubled waters,” according to country’s economy minister. Robert Habeck said the German government’s forecast for economic growth for 2024 had been revised down from 1.3% to 0.2%. This means that Europe’s […]
Financial Insights That Matter Cannabis-related stocks such as Tilray Brands (TLRY), Canopy Growth (CGC), Aurora Cannabis (ACB) jumped on news out of Canada and Germany. In Canada, a government group brought together to study the impacts of the legalization legislation recommends the country reduce the excise taxes producers have to pay. Meanwhile, Germany has decriminalized […]
Financial Insights That Matter German industry got rich thanks partly to its close energy trading relationship with its political and economic rival Russia. The past few years have shown just how misguided that relationship was, as Russia invaded Ukraine and cut off Germany’s cheap, vital gas supply. Now, one of Germany’s leading renewable power bosses […]
Financial Insights That Matter German Finance Minister Christian Lindner announced plans for €23 billion ($25 billion) in income-tax relief for households through 2026 even as he wrestles with his coalition partners over how to plug a hole in next year’s budget. The proposal includes increasing the tax-free allowance for low earners, as well as lifting […]
Financial Insights That Matter Justin Sun Offers To Buy Germany’s Remaining $2.3B in Bitcoin to Stabilize Market Tron founder Justin Sun has proposed purchasing the remaining $2.3 billion worth of Bitcoin seized by the German government. This offer comes amid a series of significant Bitcoin transfers by Germany to exchanges in a bid to offload […]
Financial Insights That Matter It’s not the country of Germany that’s been selling millions of dollars worth of bitcoin, but a small German state called Saxony. The state confiscated almost 50,000 BTC in January and has been selling its holdings as per standard practice for assets seized during criminal investigations, an expert said. For days, […]
Financial Insights That Matter Germany Sells Off Final Bitcoin Reserves From Initial $3B Worth of Holdings The German government completed the sale of its remaining Bitcoin holdings on July 12. The final transaction involved 3,846 Bitcoin, valued at around $62,604 per Bitcoin, which were sent to “Flow Traders and 139Po,” entities likely to institutional deposit/OTC […]
Financial Insights That Matter A passer-by walks in front of a branch of the fashion group Esprit. The global fashion retailer Esprit plans to close all of its 56 shops in Germany by the end of the year. Sebastian Kahnert/dpa The global fashion retailer Esprit plans to close all of its 56 shops in Germany […]
Financial Insights That Matter Friedrichshafen For a symbol of the depth of the malaise at the heart of Germany’s once-mighty economy, look no further than the announcement of enormous job cuts by one of the world’s largest suppliers of car parts. ZF Friedrichshafen is shedding as many as 14,000 jobs in Germany out of a […]