CashNews.co Published : 2 minutes agoon 03/12/2024 BERLIN (Reuters) – Germany’s cabinet has approved a proposal for a 1.3 billion euro ($1.37 billion) subsidy to offset electricity network fees for consumers next year, the economy ministry said on Tuesday. The plan, which seeks to stabilise electricity prices, comes as high energy costs strain household budgets […]
CashNews.co The blue-chip German stock index followed gains on the US and Asian markets to hit a new record (Daniel ROLAND) Germany’s blue-chip DAX stock index jumped above 20,000 points for the first time Tuesday following gains on US and Asian markets, defying multiple headwinds battering Europe’s biggest economy. The index, which groups the 40 […]
CashNews.co BERLIN (Reuters) – Germany’s cabinet has approved a proposal for a 1.3 billion euro ($1.37 billion) subsidy to offset electricity network fees for consumers next year, the economy ministry said on Tuesday. The plan, which seeks to stabilise electricity prices, comes as high energy costs strain household budgets and hinder industrial production in Europe’s […]
CashNews.co A general view of the Swedish battery manufacturer Northvolt Lab. Swedish battery manufacturer Northvolt’s financial troubles could cost the German federal government and the northern state of Schleswig-Holstein dearly, following the company’s bankruptcy filing in the United States. Britta Pedersen/dpa Swedish battery manufacturer Northvolt’s financial troubles could cost the German federal government and the […]
CashNews.co German Chancellor Olaf Scholz fired former Finance Minister Christian Lindner after he proposed sending Ukraine Taurus missiles instead of financial aid, Lindner said on Nov. 7, according to the German media outlet Berliner Zeitung. Scholz’s dismissal of Lindner on Nov. 6 triggered the collapse of Germany’s three-party governing coalition. Economic disagreements led to Lindner’s […]
CashNews.co Published : 3 days agoon 29/11/2024 (Reuters) – The German government is preparing billions of euros of new investments into the country’s semiconductor industry, Bloomberg News reported on Thursday. The subsidies are expected to be about 2 billion euros ($2.11 billion), Bloomberg reported, citing two people who attended an event about the funding plans. […]
CashNews.co BERLIN (Reuters) -Inflation rose in a number of German states in November, preliminary data showed on Thursday, suggesting that the national inflation rate would also increase as forecast. In Bavaria, the annual inflation rate rose in November to 2.6% from 2.4% the previous month. It inched up in Brandenburg to 1.9% from 1.8%, in […]
CashNews.co The German government is planning to allocate approximately €2bn ($2.11bn) into the semiconductor industry to bolster its chip production capabilities, reports Bloomberg. The move comes two months after US-based semiconductor manufacturing company Intel shelved its plan to build €30bn chip factory project in Magdeburg. German Economic Ministry spokesperson Annika Einhorn was cited by the […]
CashNews.co Germany’s constitutional court has ruled that the government’s use of renewable energy operators’ windfall profits to co-finance electricity price subsidies for consumers during the “emergency situation” in the energy market following Russia’s invasion of Ukraine in February 2022 was justified. “The enormous jump in electricity prices following the gas shortages resulting from the war […]
CashNews.co BERLIN (Reuters) -Germany’s cabinet on Wednesday approved a package of measures to promote startups and improve access to capital markets, government sources said, though it was unclear if it could get green-lit by parliament before February elections. The so-called Second Financing for the Future Act is meant to boost anaemic economic growth, in particular […]