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BusinessGerman business associations pessimistic about 2025, IW says
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German business sentiment tumbles in December amid ‘chronic’ weakness
Date: December 17, 2024
By Rachel More BERLIN (Reuters) -German business morale worsened more than expected in December, a survey showed on Tuesday, weighed down by companies’ pessimistic assessment of the coming months amid geopolitical uncertainty and an industrial slump in Europe’s largest economy. The Ifo institute said its business climate index decreased to 84.7 in December from a...
German business activity ends year in contraction territory, PMI shows
Date: December 16, 2024
By Maria Martinez BERLIN (Reuters) – Germany’s economic downturn eased slightly in December but business activity still contracted for a sixth month running, according to a survey published on Monday. The HCOB German flash composite Purchasing Managers’ Index, compiled by S&P Global, rose to 47.8 from 47.2 in November, but remained in contraction territory. Analysts...
Pessimism prevails among German firms for 2025, survey shows
Date: December 16, 2024
(Reuters) – German companies feel pessimistic about the new year, with only 12.6% expecting business conditions to improve in 2025, according to a poll by the Ifo institute of some 8,000 firms published on Monday. “No sector is really optimistic about 2025. A lot of work awaits the new German government,” says Klaus Wohlrabe, head...
Allianz withdraws $1.63 billion offer for singapore’s income insurance
Date: December 16, 2024
By Yantoultra Ngui SINGAPORE (Reuters) – German insurer Allianz has withdrawn its offer to acquire at least 51% of Singapore’s Income Insurance for about $1.63 billion, the company said in a statement on Monday. Reuters reported on Dec. 13 that the insurer had scrapped the proposed acquisition. Allianz, which unveiled its offer in July, said...
Stellantis swiftly reshapes strategy under elkann after tavares exit
Date: December 16, 2024
By Giulio Piovaccari and Nora Eckert MILAN/DETROIT (Reuters) – Steered by Chairman John Elkann, Stellantis, owner of 14 brands including Fiat, Jeep and Ram, is acting swiftly to dismantle the legacy of its former CEO and repair relations with dealers, industry partners, governments and workers. Carlos Tavares abruptly resigned on Dec. 1, almost 18 months...
Bank of england’s dhingra calls for more interest rate cuts
Date: December 6, 2024
By David Milliken (Reuters) -The Bank of England needs to cut interest rates further as its policy stance is still very restrictive and is hurting living standards, business investment and potentially longer-term productivity, policymaker Swati Dhingra said on Friday. “A combination of all of those factors – the weak consumption, the weak investment and possible...