Zalando reportedly cutting another 200 jobs in Berlin
The online fashion retailer Zalando is planning to cut around 200 more jobs at its Berlin headquarters, according to a media report citing internal documents.
Category Economy
Economic news on companies, work, consumer issues, markets and developments in Germany and Europe.
DAX closes flat at 24,847 points at start of the week
The DAX remained stable at 24,847 points on Monday. Tensions in the Middle East influenced the markets.
EU Commission relaxes methane rules due to supply shortages
The EU Commission has proposed temporarily relaxing methane rules in response to warnings about supply shortages. Violations of the requirements will not be penalized for now.
Italo orders Siemens high-speed trains for 3 billion euros
Italian rail operator Italo has ordered 26 high-speed trains from Siemens Mobility for three billion euros. The company plans to enter Germany's long-distance rail market from 2028.
80 Billion Euros: EU Launches Fund for Start-ups
EU member states, the European Investment Bank (EIB) and private investors have set up an 80-billion-euro fund to promote young technology companies, the EIB announced on the sidelines of an EU finance ministers' meeting in Brussels.
Bayer board member warns: GKV savings plan endangers Germany as a pharma hub
The savings plan for Germany's statutory health insurance funds (GKV) is driving the pharmaceutical industry out of the country, warns Bayer board member Stefan Oelrich in a guest commentary for Handelsblatt. The federal government is thus risking one of the last high-tech sectors in which Europe still leads globally.
DAX opens nearly flat despite US strikes on Iran
Germany's benchmark DAX index is expected to open nearly unchanged, according to initial calculations. Despite ongoing US strikes on Iran and a rally in chip stocks in New York and Asia, the DAX is unable to benefit from the gains.
VW CEO Blume’s Shrink Plan: Supervisory Board Refuses Approval
Volkswagen CEO Oliver Blume presented his new 'Group Target Picture' to the supervisory board – a radical downsizing plan involving plant closures and billions in cuts. But the board refused to approve it, as Handelsblatt reports.
VW Works Council Issues Ultimatum to Blume After Supervisory Board Meeting
Volkswagen's supervisory board meeting, the works council has given CEO Oliver Blume until Friday to unequivocally address rumors about potential plant closures, according to NDR.
Family doctors urge German states to block health insurance savings package
The German Association of Family Doctors has called on the country's 16 states to stop a planned savings package aimed at stabilizing statutory health insurance contributions. The Bundestag is set to vote on the bill on Friday.
Trade Republic settles legal dispute over interest rates
The neobroker Trade Republic has reached an out-of-court settlement with the consumer advice center of Baden-Württemberg over its interest rate offering. According to WirtschaftsWoche, Trade Republic agreed to stop using certain advertising claims.
Salzgitter AG takes over HKM – 2,000 jobs to be cut
Salzgitter AG is fully acquiring Duisburg-based steel company HKM. Around 2,000 of the 3,000 jobs are expected to be eliminated.
Showrooms Planned in MediaMarkt Stores
The electronics chain Saturn has shrunk to 27 stores, but parent company Ceconomy does not plan to abandon the brand. Starting in 2027, Saturn showrooms are planned in MediaMarkt stores, the company announced.
Survey: More Than Half of Germans Want to Save More
According to a survey by credit agency Crif, more than half of Germans plan to save more or cut spending in the future. Nearly four out of five respondents worry about their financial situation.
ExxonMobil invests one billion dollars in Nigeria
The US oil company ExxonMobil is investing one billion dollars in Nigeria, marking its return to drilling activities in the country. The new project is expected to deliver first production within 18 months.
Heating Subsidies: Application Stop from July 9, New Rules from July 21
From July 9 to 20, there will be a transition period before new conditions take effect on July 21. Anyone who already has a valid confirmation of application or a technical project description can still apply under the previous conditions during the transition period.
Housing Construction: Why Germany Must Build More Simply and Cheaply
Germany builds too expensively and too complicatedly. A new study shows that excessive standards are slowing housing construction and that square meter prices have risen by 600 euros in 25 years.
Hesse: Federal Housing Corporation Unnecessary
In Hesse, a federal housing corporation is seen as unnecessary. According to FAZ, the state already has capable companies building homes, such as in Frankfurt's Schönhofviertel, the largest new development quarter in Hesse.
DAX falls back as oil prices rise on Middle East tensions
Oil prices have risen again while the DAX posted significant losses. The reason is the ongoing tensions in the Middle East, which are unsettling investors, as reported by Tagesschau.
Nuremberg-Regensburg railway line: renovation delayed again
Deutsche Bahn has announced another delay in the renovation of the Nuremberg-Regensburg line. The company said the connection, which has been closed since February, will now remain shut until July 31.
DAX in the Red: Oil Price Rises Four Percent After US Strikes
The DAX is trading in the red on Wednesday morning, while the oil price has risen by up to four percent. The background is new US bombings of Iranian targets and tightened sanctions.
EnBW CEO Calls for Correction of Wind Power Expansion Targets
The head of German energy company EnBW, Georg Stamatelopoulos, is calling for a reduction in the country's offshore wind power expansion targets. Citing rising costs, he argues for postponing the 70-gigawatt goal, as reported by the Frankfurter Allgemeine Zeitung.
German Parliament Approves New E-Car Subsidy of Up to 6,000 Euros
The Bundestag has created the legal basis for a new purchase premium for electric cars. Starting in May, buyers can receive between 1,500 and 6,000 euros depending on the model and income.
Germany ranks third globally in intangible investments
German industry invests little in factories and machinery, but according to a study by the World Intellectual Property Organization (WIPO), it is among the top performers in intangible assets such as research and development.
AI Token Costs: Many Executives Lack Clarity
According to a KPMG survey, nearly a third of executives struggle to understand the cost structures of AI usage in their companies. 42 percent have only partial insight into AI spending.
Germany Plans Strategic Reserve for Emergencies
Germany plans to build a strategic gas reserve to protect against future supply disruptions. According to Reuters, the Federal Ministry for Economic Affairs is pushing ahead with plans for an emergency reserve.
Heating overhaul: German government cuts subsidies for heat pumps
The German government plans to significantly reduce grants for heat pumps and other climate-friendly heating systems. According to Spiegel, around 2.1 billion euros are to be saved by 2030.
German industrial production rises 0.9 percent in May
Industrial production in Germany rose by 0.9 percent in May compared to the previous month, driven by the automotive and construction sectors, according to the Federal Statistical Office.
Proxima Fusion: Munich startup valued at over €2.4 billion
The Munich-based nuclear fusion startup Proxima Fusion has raised €411 million in a funding round and is now valued at more than €2.4 billion.
1&1 Customers Without Cloud App for Months – Company Cites Isolated Cases
Customers of internet provider 1&1 have been unable to use the company's cloud app for months. The company describes the outage as isolated cases and asks affected users for patience.
IG Metall calls for nationwide protest day at VW
The IG Metall union has called for a nationwide day of action at Volkswagen on Thursday, coinciding with a supervisory board meeting that will discuss tightened cost-cutting plans.
IMF: Five European Economies Growing Twice as Fast as Eurozone
The International Monetary Fund (IMF) projects that five smaller European economies will grow by more than 3.5 percent annually through 2031—more than double the eurozone's expected rate. Ukraine ranks third with an average of 3.8 percent.
German industrial orders unexpectedly rise in May
German industry received more orders than expected in May, according to the Federal Statistical Office. Orders rose by 1.9 percent compared to the previous month.
Trade Republic introduces best-price execution and 30 trading venues
The neobroker Trade Republic is expanding its trading offering to 30 domestic and international exchanges and introducing automatic best-price execution, the company announced.
Helsing Gets Green Light for Factory in Hallbergmoos – Community Approves
The defense startup Helsing can build a factory in Hallbergmoos near Munich. The community approved the project with a large majority, as Heise reports.
DAX starts new week cautiously after record high – rate worries and Middle East tensions weigh
After hitting a record high on Friday, the DAX is expected to start the new week cautiously, according to Tagesschau. While US rate hikes are becoming less likely, the situation in the Middle East and concerns about the AI sector are dampening sentiment.
Porsche reportedly cutting another 4,000 jobs
The sports car manufacturer Porsche may cut up to 4,000 additional jobs, according to information from the Handelsblatt. The cuts would come on top of already announced job reductions.
WhatsApp Identity Theft and Alibaba Anthropic AI
Security experts warn that WhatsApp usernames could be used for identity theft, while Alibaba prohibits employees from using Anthropic's Claude AI. Meanwhile, the Stargate UK data center project turns out to be a PR stunt.
Trade associations demand Sunday opening for all retail
After the German government announced that bakeries and libraries would be allowed to open longer on Sundays from 2027, trade associations are calling for the rule to be extended to all retail stores.
Capital Pension: DAI Director Warns Against ESG Overload
Franz-Josef Leven, director of the German Equity Institute (DAI), warns against overburdening the new capital pension with ESG requirements and forcing investments domestically.