A mammoth economic stimulus passed last year in Germany was meant to jolt the country—and Europe—out of its economic slumber. The problem: Germany has been reticent to spend the money, according to a Wall Street Journal analysis. A year on, much of the planned $584 billion infrastructure plan remains unspent, locked behind bureaucratic bottlenecks set up to guard against excessive spending in the notoriously frugal country. Money from the “Big Berlin Bill”—as Deutsche Bank called it—has yet to show up in a meaningful way.
Read more
This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
Already a member? Login here.
This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
Already a member? Login here.
This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
Already a member? Login here.
German and Spanish inflation climbed again in April to multiyear highs as tensions in the Middle East continued to drive up energy prices, the Wall Street Journal reported. Consumer prices were 2.9% higher than a year earlier in Germany, an increase in the annual rate of inflation from 2.8% in March, according to EU-harmonized figures published by Destatis on Wednesday, its highest since January 2024. Spain’s statistics agency INE said inflation rose to 3.5% in April from 3.4% in March, reaching its strongest level since June 2024.
Read more
Two German carmakers are suing a U.K. watchdog over its £9bn car finance redress scheme, The Telegraph reported. Mercedes-Benz and Volkswagen have both launched legal challenges against the Financial Conduct Authority (FCA) over the scheme, which will compensate customers for mis-sold car loans. A Volkswagen spokesman said it had “identified issues that require independent clarification” and so had decided to take the FCA to court. “Our referral is focused on ensuring the redress scheme is applied accurately and fairly,” they added.
Read more
The month ahead is shaping up to be one of the most consequential periods for Allianz in recent memory, as the insurer's shareholders prepare for a whirlwind of corporate events that will test the company's narrative of resilience against a stark warning from its own credit insurance arm, AktienCheck.de. reported. On one side of the equation sits an impressive run of financial strength.
Read more
German business confidence sank to a near six-year low as firms counted the cost of soaring energy prices driven by the conflict in the Middle East, the Wall Street Journal reported. The Ifo Institute said Friday that its business-climate index, based on around 9,000 monthly responses from businesses, fell to 84.4 in April from 86.3 in March. That marked the lowest level since May 2020, when lockdowns and restrictions hit businesses as the Covid-19 pandemic spread worldwide.
Read more
Germany's Chancellor Friedrich Merz said on Sunday that artificial intelligence for industrial use will require more regulatory freedom in the European Union than other AI areas such as consumer use to boost productivity, Reuters reported. "I will push to ease the regulatory burden in the EU on AI and, where possible, to exempt industrial AI from the current regulatory straightjacket that is too tight for AI within the European Union," Merz said in a speech at the annual industrial fair Hannover Messe.
Read more
German cutting and post-press machinery manufacturer PCT Maschinenbau is set to enter a self-administered insolvency process, PrintWeek.com reported. Managing director Yorck Richter confirmed the Hofheim mechanical engineering firm had filed for insolvency proceedings on 9 April. Richter said a statement would be issued after the receipt of official court documents. PCT is owned by SOL Capital. Printweek understands the firm employs around 240 staff.
Read more