Germany Financial News

Euro zone government bond yields held near multi-year highs on Tuesday as the narrative that global central banks would keep interest rates «higher for longer» continued to drive price action. Italy is also under growing market scrutiny as Prime Minister Giorgia Meloni is set to announce a new budget against the backdrop of a weakening growth outlook. Reuters earlier reported that Italy is likely to raise its 2024 budget deficit target to between 4.1% and 4.3% of gross domestic product, however, the fiscal gap is seen below 4% of GDP under current trends, allowing leeway for several billion euros to fund measures in the upcoming budget. Germany's 10-year government bond yield, the euro area's benchmark, was last flat at 2.788%, having briefly hit a 12-year high of 2.813% in early trade. Bonds yields move inversely with prices. Italy's 10-year yield was last up 4.4 bps at 4.697%, after hitting its highest level since October.

By Christian Kraemer and Rene Wagner

By Nerijus Adomaitis

The head of the European Central Bank says interest rates will stay high long enough to restrict business activity for “as long as necessary” to beat back inflation because upward pressure on prices “remains strong.”

It's a historic moment for the renewable energy sector as WattPower introduces its cutting-edge factory in the heart of Chennai, India, offering advanced Smart PV solutions that will reshape the renewable energy landscape in the subcontinent. New Delhi, 03 June 2023: The future's looking brighter than ever as WattPower, Solar Photovoltaic solutions provider based with its roots in Germany, proudly announces the grand opening of its state-of-the-art facility in Chennai, Tamil Nadu, India. This exciting move comes in response to India's soaring appetite for green energy solutions.

streaming platform, is stepping up its game in the podcasting arena with a groundbreaking AI-powered tool, which allows creators to translate their episodes into different languages. On Monday, Daniel Ek, Spotify's founder and CEO, announced this new feature with a post on his official LinkedIn handle, along with a video that showed the workings of this new feature. He wrote, «We’re testing something new at Spotify! Starting today — a pilot group of podcasters can now automatically translate their podcast episodes into alternate languages — all while keeping it in their own voice. It’s called Voice Translation and uses AI to translate pods into Spanish, French and German. It’s pretty insane to hear. More languages and more podcasts to come soon! Let me know what you think.»

MAGDEBURG, Germany—Intel says it needs 3,000 people to staff the semiconductor factory it plans to build in eastern Germany by the end of the decade. This year, the local apprentice program for chip-making technicians is training two. The German government trumpeted Intel’s planned development as a game changer, backed by federal subsidies totaling 10 billion euros—equivalent to $10.59 billion—that would help the economy pivot toward new industry.

BERLIN (Reuters) — Germany's economy will grow more slowly than previously expected next year due to a lack of positive momentum towards the end of this year, the IMK institute said in its forecast on Tuesday.

Investing.com — European stock markets largely retreated Tuesday, as investors fretted on the prospect for a period of elevated interest rates, creating economic uncertainty.

By Gavin Jones and Valentina Za

European Central Bank’s (ECB) president Christine Lagarde said that there is a lot going on in crypto, however, a ‘digital Euro’ pilot “will probably take us another two years, at least, before it’s the final say.”

BEIJING — Europe has launched an investigation into Chinese electric vehicle subsidies, but no assumptions should be made about the probe's outcome, the head of trade for the European bloc's executive branch said Tuesday.

Swarm and Wrapped entered into a partnership on September 7 to improve Wrapped.com's existing services for transferring cryptocurrencies between different blockchain networks. The main goal is to make it easier to convert, or "wrap," cryptocurrencies for use in decentralized finance, commonly known as DeFi.

euro zone bond yields rose on Monday — with Germany's 10-year yield hitting its highest since 2011 — as investors continued to adjust to the new «higher-for-longer» interest rate stance of the world's biggest central banks. Germany's 10-year government bond yield was last up 6 basis points (bps) at 2.79% after reaching its highest level since July 2011 at 2.811%. Yields rise when prices fall, and vice versa. The ECB raised interest rates to a record high of 4% on Sept. 14.

By Maria Martinez and Riham Alkousaa

By Tim Hepher

Wildfires fueled by climate change have ravaged communities from Maui to the Mediterranean this summer, killing many people, exhausting firefighters and fueling demand for new solutions

Spotify Technology is testing an AI-powered feature that will translate podcasts from the likes of Dax Shepard and Lex Fridman to other languages, the audio-streaming company said on Monday. The feature marks the latest attempt by the Swedish company to capitalize on generative artificial intelligence, the technology that has taken the world by storm after the rise of ChatGPT, to tap new users and boost revenue.

Oil prices are up, and that affects people far and wide

After the first weekly loss in four, oil bulls will be raring to push crude oil towards the higher $90s, while top buyer China again faces its recurring bogeyman — an ailing property sector — that’s weighing on its stock market.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Elon Musk claims WSJ report ‘utterly false’; VinFast posts impressive results; and EVs are taking over EU.