Germany's economy will shrink by 0.4% this year and grow only by a relatively modest 0.7% next year, the government's panel of independent economic advisers forecast Wednesday, the Associated Press reported. The panel joined several other forecasters in revising downward its outlook for Europe's biggest economy. Its prediction for this year was in line with one issued by the government about a month ago, but next year's forecast was considerably gloomier than the 1.3% the government expects.

German inflation slowed markedly — and more than expected — in October as Europe’s biggest economy struggles to grow, Bloomberg News reported. At 3%, price pressures are the weakest since June 2021, the statistics office said Monday. Economists had predicted a moderation to 3.3%. The result underpins the European Central Bank’s argument that a record bout of interest-rate increases is starting to show its effects. A sharp retreat is also expected in Italy and, to a lesser extent, in France and in the 20-nation euro zone, with data due Tuesday.

Germany’s business outlook improved slightly, supporting expectations for Europe’s largest economy to rebound modestly — even as it faces a possible second recession in just over a year, Bloomberg News reported. An expectations index by the Ifo institute rose to 84.7 in October, up from a revised 83.1 the previous month. That beat the median estimate in a Bloomberg survey for an increase to 83.5. A measure of current conditions unexpectedly advanced. “What we see here does suggest that we see a certain stabilization,” Ifo President Clemens Fuest told Bloomberg Television on Wednesday.

Germany's economy ministry is planning 50 billion euros ($53 billion) in tax breaks over the next four years to help industry and businesses cope with high energy prices, according to a new industrial strategy to be presented Tuesday, Reuters reported. Small and medium-sized businesses in particular will benefit from the plan, the ministry said in the 60-page strategy paper seen by Reuters. The move is part of government efforts to support domestic industry in the face of high energy costs and the draw of incentive programmes in countries such as the United States.

Adler Group SA’s €6 billion ($6.4 billion) debt restructuring faced fresh legal scrutiny in a London court as some creditors appealed the deal that saved the embattled German real estate firm from slipping into insolvency, Bloomberg News reported. The plan, approved by a judge, was discriminatory according to dissenting creditors with debt maturing later that include DWS Group and Strategic Value Partners. “Our notes are at greatly material risk of not being paid,” Tom Smith, a lawyer for the bondholders, said at the Court of Appeal on Monday.

Signa Sports United has closed its U.S. offices, which included operations for the Vitus and Nukeproof bike brands and the Hotlines wholesale distribution business, all based in Park City. Signa, headquartered in Berlin, announced earlier this week that it had lost access to a 150 million euro ($159 million) equity commitment from its parent company, BicycleRetailer.com reported. The company has reported serious liquidity challenges and had begun the process of delisting from the New York Stock Exchange.

Germany's government said Wednesday that it expects the country's economy to shrink by 0.4% this year, joining a string of other forecasters in revising sharply downward its outlook for Europe's biggest economy, the Associated Press reported. The revised forecast contrasted with the 0.4% growth that the government predicted in late April.

In July this year, Nuremberg’s mayor celebrated the final beam being placed atop the redeveloped Quelle building, a monumental 1950s symbol of postwar Germany’s economic revival. Revamped with offices, shops and homes, a big part of the giant complex was slated to open in 2024, Bloomberg News reported. In recent weeks, however, the site’s developer Gerch Group, which has €4 billion ($4.2 billion) of projects under construction, has filed for insolvency proceedings, along with one of its project companies linked to the development. The opening date’s now in doubt.

Demire Deutsche Mittelstand Real Estate AG and its creditors are gearing up for debt refinancing talks as the Apollo-backed landlord faces a looming bond maturity amid an industry downturn, Bloomberg News. Demire has hired Rothschild & Co. to advise on its refinancing, according to people familiar with the matter who asked not to be named because the information is private. Bondholders have also been hearing pitches from potential advisors.

Germany has welcomed a show of support from China for the G20 debt restructuring framework for poorer countries in a joint statement after their financial dialogue in Frankfurt over the weekend, Reuters reported. "We welcome the fact that the Chinese side is also committed to this in our Joint Statement, because solutions are inconceivable without China as such an important player in world politics," German Finance Minister Christian Lindner said on Sunday, after his meeting with Chinese Vice Premier He Lifeng.