Germany’s economic output shrank by more than initially estimated in the second quarter, with industry faring worse than expected as U.S. tariffs hurt exports, the Wall Street Journal reported. Gross domestic product in Europe’s largest economy fell 0.3% on quarter in the three months to the end of June, according to fresh estimates, a sharper rate than the 0.1% decline initially estimated made last month, statistics agency Destatis said. That performance offset much of the 0.3% increase in GDP in the first quarter. Exports of goods fell 0.6% in the quarter as U.S.

Deutsche Pfandbriefbank AG is working on a debut significant risk transfer tied to billions of dollars of U.S. commercial real estate loans, Bloomberg News reported. The Garching-based bank is sounding out investors about the potential transaction. In June, PBB said it would discontinue its US business completely and planned to wind down, securitize or sell a portfolio of about €4.1 billion of US commercial real estate loans. Earlier this month it booked €314 million in charges linked to its decision to exit the U.S.

German banks’ asset quality will come under pressure from rising corporate insolvencies in the coming months amid a challenging macroeconomic environment and persistent high interest rates, Fitch Ratings says. Fitch expects banks’ exposure to vulnerable sectors and anaemic economic growth to result in heightened credit losses in corporate and SME loan portfolios.

Germany’s goods exports to the U.S. slid further in June, as the impact of tariffs on the country’s export-oriented economy continued to bite, while industrial production also took an unexpectedly strong hit, the Wall Street Journal reported. Exports from Europe’s largest economy to the U.S. slid 2.1% to 11.8 billion euros ($13.76 billion), the third consecutive monthly decrease to the lowest value since February 2022, according to adjusted figures published by Germany’s statistics agency Destatis on Thursday. They were 8.4% lower than the same month last year.

Italian-inspired premium denim label Closed has filed for insolvency and placed a corresponding application with the Hamburg district court in Germany. Despite its financial difficulties, business operations are to continue unchanged, FashionNetwork.com reported. Hamburg-based lawyer Stefan Denkhaus from the law firm BRL has been appointed provisional insolvency administrator. The pre-financing of insolvency benefits for the approximately 400 employees has already been initiated to ensure continuous salary payments and thus the stability of the operating business.

The Esports Advocate has learned that Berlin-based esports data firm Bayes Esports Solutions GmbH was put under administration and filed for insolvency in late May (case no. 3602 IN 3585/25),ESportsAdvocate.net reported. On Aug. 1, the Charlottenburg district court in Berlin determined that Bayes is both illiquid and over-indebted, triggering a main insolvency proceeding (Hauptinsolvenzverfahren) in accordance with EU Regulation 2015/848. The court received the insolvency filing on May 26. Berlin-based attorney Dr.

German antenna technology company Kathrein Broadcast has emerged from a period of financial uncertainty with the backing of a new investor consortium, BroadbandTVNews.com reported. Lenbach Capital, a Munich-based investment firm, will secure the long-term continuation of operations, according to the company. Financial details of the transaction were not disclosed. The deal lays the groundwork for the conclusion of the insolvency proceedings that were initiated in March 2025.

German industrial orders unexpectedly fell in June, declining for a second straight month, due to falling demand from abroad, a trend that looks set to continue due to increased tariffs on exports to the United States, data showed on Wednesday, Reuters reported. Orders were down by 1% on the previous month on a seasonally and calendar adjusted basis, the federal statistics office said. Foreign orders fell 3.0% on the month, while domestic ones rose 2.2%. Those from outside the euro zone dropped 7.8%, while inside the euro zone, they grew by 5.2%.

Germany’s “oldest and biggest” gay dance club has declared itself bankrupt after nearly half a century in business, falling victim to inflation and an evolving party culture threatening Berlin’s nightlife, The Guardian reported. Management troubles and dating apps were among the factors putting SchwuZ on the ropes last year and in May the club shortened its opening hours, laid off staff and asked regulars for help to plug a growing shortfall, to little avail. On Thursday, the management team posted on Instagram: “SchwuZ has filed for insolvency.

The Leipzig-based tram manufacturer Heiterblick is currently grappling with significant challenges as it faces insolvency, The Munich Eye reported. Once aspiring to become the leading name in the streetcar manufacturing sector, the company now finds itself in a precarious situation. Earlier this year, the managing director of Heiterblick expressed optimism about the company's future, even seeking recognition as the Saxon Entrepreneur of the Year.