The United States and Germany have reached an agreement on the controversial gas project Nord Stream 2. If Moscow uses the gas pipeline that runs from Russia to Germany to exert political pressure, it risks sanctions. “Should Russia try to use energy as a weapon or take further aggressive actions against Ukraine, Germany will take action itself and insist on sanctions at European...
Google has reached a settlement of 220 million euros with the French watchdog in France. The tech company pays the settlement after the authority filed a complaint for abuse of power in the advertising market. The French Competition Authority says that Google is abusing its monopoly position in the sale of online ads. Google’s tool to help websites and apps sell advertising would have given...
The financial stability of the euro area remains fragile. This was concluded by the European Central Bank on Wednesday in the Financial Stability Review in May. Interconnection between countries, banks and companies can pose a threat to financial stability, according to the ECB. A new coronavirus wave has slowed the recovery in the euro area and is weighing on the short-term economic outlook...
The German economy, the largest in Europe, grew somewhat stronger than previously thought in the fourth quarter of last year. This was partly due to increased investments in the construction sector and higher exports. However, there were weaker consumer spending, in connection with the lockdowns against the coronavirus. The German Federal Statistical Office reports on the basis of a new estimate...
Production in German industry stagnated in December after seven months of sustained growth. According to the German Federal Statistics Office, industrial production remained unchanged last month compared to November. The German industry is faced with the new lockdowns against the coronavirus and also chips shortages. According to the statistical office, industrial production increased by an...
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...