Bundesbank President Jens Weidmann said it will be difficult to avoid raising the retirement age as people live longer in better health. (Reuters)
A Merkel ally criticized Donald Trump’s reaction to the disappearance of Saudi journalist Jamal Khashoggi. The US President effectively gave Saudi Prince Mohammed bin Salman a license to do what he pleases as long as Saudi Arabia buys US weapons, parliamentarian Norbert Röttgen said. (ARD)
German export growth is expected to slow further in 2019 after forecast growth of 3.5% this year, BGA, an export lobby group, said. Current developments are “the beginning of a downward trend.”
European economies might face longer periods of recession as the combination of aging populations, pension obligations and high state-debt levels limit governmental options for mitigating economic downturns, ECB member Peter Praet said.
The European Commission has rejected Italy’s budget plan for 2019, EU budget Commissioner Günther Oettinger told magazine Spiegel.
Mr. Oettinger denied the EU had taken a decision about Italy’s budget, but said on Twitter he assumed the European Commission would demand a change in Rome’s plans for 2019.
At least 17 children and teachers were killed on the Crimean peninsula, which was annexed by Russia in 2014 from Ukraine, after an 18-year old pupil shot randomly at people in his school. Some witnesses also heard an explosion.
Federal prosecutors have taken over the investigation of a Cologne hostage case where the suspect is a 55-year old Syrian refugee. Authorities want to know if the crime was an act of Islamic terrorism.
German industry wants to make diesel cars popular again by improving the technology and restoring consumer trust, carmaker lobbyist VDA said.
Ahead of a Brussels summit about Brexit, Angela Merkel said there was still a chance the European Union could reach a deal with Britain about the latter’s exit from the 28-nation bloc.
German exports to Turkey dropped more than a quarter in August to €1.3 billion following the Mediterranean country’s economic crisis and plunging currency, the lira.
An alleged hack of a Berlin police officer turned out to be a practical joke: A colleague wanted to access the computer to jokingly give himself €1 million in credit for office coffee.
Support for the EU remains high in Germany with an approval rate of 81%, compared with an average figure of 62% in the 28-nation bloc. In Italy and the Czech Republic, approval was lowest at 43% and 39%, respectively.
The former boss of engineering firm Trumpf, Berthold Leibinger, died at the age of 87 after a long illness. He invented machines to punch or shape steel and recognized early the metal-cutting potential of lasers.
German states are lobbying Berlin to allow carmakers to deduct CO2 emissions from their car fleets’ output, based on the usage of synthetic fuels produced with renewable energy. Hydrogen or gasoline made with green power is carbon-neutral.
Soccer star Bastian Schweinsteiger, currently playing for Chicago Fire in the US, became the face of a new campaign to promote Germany’s gambling halls, home to almost 300,000 slot machines nationwide.
Shares in Fresenius Medical Care, the world’s biggest specialist for dialysis treatment, dropped 19% after it cut growth forecasts for full-year revenue and earnings. Its US business, its single biggest market, isn’t doing well. Fresenius Holding dropped 12%.
General Electric will likely trump Siemens in winning an Iraqi government contract worth up to €13 billion after the US administration pushed Baghdad to favor GE. The US company is expected to win a large share of the contract. (FT)
The German Finance Ministry, led by Social Democrat Olaf Scholz, has drafted details of a “European Unemployment Stabilization Fund,” which EU states would finance with contributions. It would loan money to national unemployment funds in times of economic crisis.
The Economics Ministry, led by Angela Merkel’s conservative ally Peter Altmaier, rejected the plan. In the end, Berlin wants to agree with the French government on the proposal to make the 19-nation euro zone more crisis-proof following the 2011-2012 debt bailouts of Greece and other countries.
Germany has the third-best competitive economy in the world after the US and Singapore, scoring high on the factors economic stability, health, infrastructure and innovation capability, which all support productivity. The rankings didn’t change over 2017. (WEF)
European car sales fell 23% in September to 1.1 million vehicles as stricter emissions tests came into force. In August, sales had risen 31% year-on-year. In the first nine months, unit sales were up 2.3%.
Peter Tauber, an ally of Angela Merkel and deputy minister in the Defense Ministry, drew criticism after posting a Twitter message commemorating Nazi general Erwin Rommel’s death 74 years ago, after Hitler’s men forced him to commit suicide.
The conservative politician, a member of Merkel’s CDU, noted that Rommel was part of a resistance movement against Hitler in 1944 and he repeatedly ignored Nazi orders. (Bild)
The far-right party AfD wants to expel a local Berlin representative after photos emerged online showing her and wine bottles with images of Hitler in the background. (RBB)
Interior Minister Horst Seehofer said he would name a new domestic spy chief by early November to replace Hans-Georg Maassen, who was ousted after remarks questioning right-wing disturbances in Chemnitz. (Reuters)
Siemens and Iberdrola said they named David Mesonero, son-in-law of Iberdrola chief Ignacio Galan, CFO of their wind energy joint venture, Siemens Gamesa. Markus Tacke, a former Siemens executive, remains CEO, though Iberdrola claimed the right to name candidates to that position. (Reuters)
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