Surrounded by vineyards and filled with atmospheric wine gardens, small, tourist-friendly Würzburg (just 70 minutes by train from Frankfurt) is easy to navigate by foot or streetcar. Today, one in five of its 130,000 residents are students – making the town feel young and very alive. Standing on Würzburg’s venerable bridge – the second-oldest in…
‘Massive Scars’: Germany’s Uniper Posts Record 40 Billion Euro Net Loss
November 3, 2022
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FRANKFURT/DUESSELDORF—Soon-to-be-nationalized gas importer Uniper reported a record 40 billion euro ($39.3 billion) net loss in the first nine months of this year, the biggest in German corporate history, after Russia stopped its supplies. The loss further highlights how Russia’s decision to sever a decade-long supply relationship with Europe, most notably Germany, is impacting the continent’s…
Germany’s Scholz Seeks Reset in China Relations as Beijing Ramps Up ‘Avowals of Marxism-Leninism’
November 3, 2022
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German Chancellor Olaf Scholz said Berlin needs to change the way it deals with Beijing and reduce “risky dependencies” as China’s communist leadership has made increased “avowals of Marxism-Leninism” and as bilateral tensions between the two countries simmer. Scholz made the remarks in an op-ed published on Nov. 3 in Politico, a day ahead of…
Germany Sees Unexpected Growth in 3rd Quarter; Inflation Up
BERLIN—The German economy grew in the third quarter, an unexpectedly positive performance powered largely by private spending, official figures showed Friday. But the immediate outlook for Europe’s biggest economy remained gloomy, with inflation rising again in October. Gross domestic product expanded by 0.3 percent in the July-September period compared with the previous quarter, the Federal…
Steel Giant Shuts Down Plants in Germany, Sparking Energy Crisis Fears
October 26, 2022
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The energy crisis has been hitting Europe’s largest economy hard, with two of Germany’s largest steel manufacturing plants being forced to shut down. ArcelorMittal’s plan to deactivate one of its largest steel plants in Hamburg last month caused shockwaves through out the industry. The world’s second largest steel company also said it would later shut down…
Energy Costs Push Germany Flash PMI to 29-Month Low: S&P Global
BERLIN—Germany’s economic downturn deepened in October, the flash S&P Global composite purchasing managers’ index showed on Monday as its reading fell to 44.1 from 45.7 in September, the lowest since May 2020, when the country was under a COVID-19 lockdown. High energy costs were a major factor, especially in manufacturing, where the rate of contraction…
2 Killed in Stabbing in Southwest Germany, Suspect Detained
BERLIN—Two people were killed and another seriously wounded in a stabbing Tuesday in southwestern Germany, police said. The suspected assailant was detained. Police said that they were alerted to the stabbing in a suburb of the city of Ludwigshafen on Tuesday afternoon. The 25-year-old suspect initially fled the scene and was detained in a drugstore….
Germany to Keep Nuclear Plants Running Into 2023, Green Party Unhappy With Decision
German Chancellor Olaf Scholz has ordered the country’s three remaining nuclear plants to remain open beyond Dec. 31, a decision criticized by some of his coalition party members. The Isar 2, Neckarwestheim 2, and Emsland nuclear power plants will remain in operation until April 15, 2023. Scholz has asked the Environment, Finance, and Economy ministries…
Russia Rebukes Germany, Denmark, Sweden for Not Including It in Nord Stream Probe
October 13, 2022
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LONDON—Russia said on Thursday it had summoned diplomats from Germany, Denmark, and Sweden to complain that representatives from Moscow and Gazprom had not been invited to join an investigation into ruptures of the Nord Stream gas pipelines. “Russia will obviously not recognise the pseudo-results of such an investigation unless Russian experts are involved,” the foreign…
German Companies Look at Offshore Production as Energy Prices Rocket
October 10, 2022
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BERLIN—Germany’s 200 billion euro ($197 billion) energy aid package will provide limited relief for businesses and is unlikely to dissuade companies that are already looking to relocate to cheaper manufacturing bases overseas. The German government set out its energy relief package last month, including a gas price brake and a cut in sales tax for…
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