Inflation in Germany is negative for the fifth month in a row in December. The average price level decreased by 0.7 per cent compared to a year earlier, reported the German Federal Statistical level. It is the lowest level of inflation in more than a decade. The negative inflation rate is largely caused by a temporary VAT reduction introduced by the German authorities as a measure to counter the...
FedEx delivery company has more than doubled his profits in the last quarter. Because of the pandemic, many people had to stay at home and physical shops closed the doors. As a result, the number of online purchases increased and couriers from the American company had much more work. For the first time in the second quarter of the year in which FedEx was broken, turnover rose to over USD 20...
Producer prices in Germany increased by 0.1 percent in October compared with the previous month. The German Federal Statistical Office reported the figures. Economists had expected an average increase of 0.1 percent. In September, German manufacturers ‘ prices for their products increased by 0.4 percent. On an annual basis, German producer prices fell by 0.7 percent in October, after a 1...
The French economy experienced a strong recovery in the third quarter. Economists in general did not expect such a strong upturn. However, many connoisseurs remain pessimistic as new lockdown measures are now creating new economic problems. Compared with the second quarter, the French economy rose by 18.2% in July, August and september, according to preliminary figures from the French statistical...
The production of German industry fell slightly in August against the expectation. This brings to a halt the earlier recovery of industry in Europe’s largest economy, as is shown by data from the German Federal Statistical Office. Production fell by 0.2 per cent in August compared to July, where economists in general expected an increase of 1.5 per cent. However, the growth rate for the...
Online supermarket Picnic is in talks with the Dutch supermarket Superunie for a joint purchasing organization with the German supermarket company EDEKA. This confirms co-founder Michiel Muller of Picnic, following a Friday published article in the Financial Daily (FD). Picnic, which has been active in Germany since 2018, has ambitions to enter the French and British markets, according to Muller...
The Spanish economy shrank slightly less in the second quarter than previously expected. This was apparent from the final figures of the National Statistical Office. The country was severely affected by the coronacris during the measurement period and took heavy measures to contain the spread of the coronavirus. The economy shrank by 21.5% on an annual basis in the measurement period, where it...
According to Bloomberg, Deutsche Bank has no intention to buy Wirecard’s banking branch. The price of EUR 100 million would be far too high. That is the minimum amount that Wirecard-curator Michael Jaffe wanted for the sale of the assets in order to avoid liquidation, according to the sources. Last week, a bid by Deutsche Bank for Wirecard parts was refused because it would have been too...
The rate of the Turkish lira went down again on Friday in the midst of financial turmoil in Turkey. High inflation, with food and transport becoming more expensive for citizens, for example, and the economic concerns caused by the COVID-19 pandemic, led to a new low. The ongoing gas dispute between Turkey and neighbouring Greece also brought pressure. The two countries have been in conflict for...
The Swiss seed dealer and producer of pesticides Syngenta is still on a track to stock exchange in mid-2022. That’s what top man Erik Firwald said on Thursday during the presentation of the six-month figures. It appeared earlier that the owner China National Chemical, also known as ChemChina, wants to reduce its debt with the proceeds of the IPO. The stock market, possibly one of the...