Germany Financial News

By David Shepardson and Maria Martinez

Germany’s struggle to revive its sluggish economy is about to take an experimental turn as a host of companies test out the merits of working less. A six-month program starting Feb. 1 will grant a day off every week for hundreds of employees while keeping them on full pay. The study aims to find out if labor unions are right that it could not only leave staff healthier and happier, but also more productive. “I’m absolutely convinced that investments in ‘new work’ pay off because they increase well-being and motivation, subsequently increasing efficiency,” said Sören Fricke, co-founder of event planner Solidsense, one of 45 companies taking part in the pilot. “The four-day week, if it works, won’t cost us anything either in the long run.”

In December, about 20 people sipped Champagne at Lincoln Center’s David H. Koch Theater as members of New York City Ballet rehearsed the Nutcracker. The attendees toured backstage and chatted with the dancers before decamping to Bad Roman, a glitzy Italian restaurant in Columbus Circle, for dinner.

With Canadian GDP per capita dropping like a stone, what would you expect our minister of finance, Chrystia Freeland, to say last week at the elite Davos confab? “Come to Canada! We have $135 billion to give you!” is what she did say. Given our poor investment performance, it seems the only way to attract capital is to offer billions of tax dollars to foreign multinationals.

India matches the international standards, they said. «The long-term plans are comprehensive and strategically aligned to national priorities, including initiatives such as Make in India, green hydrogen, drones, semiconductors, smart mobility, electronics, defence and space,» a senior government official told ET. «Besides, the government is putting in place a robust quality assurance mechanism to ensure that skill development initiatives meet international benchmarks.»

Crypto exchange Kraken has announced the hiring of a former N26 Chief Product Officer and a former Coinbase Managing Director. In an statement published on January 25th, Kraken announced it had hired Gilles BianRosa and Marcus Hughes to strengthen its leadership team. The company said the hires would help situate the company for “continued growth amid evolving global regulatory environments.”

The share of diesel in total sales of luxury vehicles in the local market declined to 35% last year, from about 80% five years, even as buyers continued to shift to feature-rich SUVs. Sales of electric cars, meanwhile, increased to account for 6% of overall volumes in the segment — thrice of that in the mass market — with rich young, aspiring consumers emerging as front runners in adoption of clean technologies.

(This Jan. 25 story has been refiled to add the missing word 'Central,' in paragraph 1)

 USA? American football

shares jumped nearly 13% to a more than 10-year high on Thursday after the company reported a better-than-expected revenue outlook backed by strong demand for its artificial intelligence (AI) services. Orders from IBM's generative AI business, which includes bookings and sales from services such as those powered by its Watsonx AI platform, doubled in the fourth quarter and are expected to help its revenue grow by around 4%-6% in 2024, the company reported late on Wednesday. Consulting firms and software companies, including Germany's SAP SE, account for much of IBM's AI-related bookings, IBM Chief Financial Officer James Kavanaugh told Reuters. IBM shares rose to a peak of $196.89, their highest since June 2013, adding about $20 billion to the company's market capitalization.

Masters of the Air is set to hit Apple TV+ soon, marking the arrival of the third series following the acclaimed Band of Brothers and its 2010 companion, The Pacific. The show unfolds in 2024, years after filming commenced, promising a gripping narrative. Episode Count

The European Central Bank has kept its key interest rate unchanged at a record high

₹300 crore to buy all six aircraft," said a top executive at a private jet operator company on the condition of anonymity. “The plane can fly to any part of the country and can also land on difficult runways under difficult conditions. So, it is an apt aircraft for domestic usage." The executive added that if the company had decided to buy new airplanes, six new Pilatus PC-24 would have cumulatively cost around ₹450 crore.

₹8-11 lakh, whereas a master’s programme costs ₹15 lakh," said Ankur Dhawan, the president of upGrad’s international arm, upGrad Abroad. “Canada has also upped the guaranteed investment certificate (GIC) from CAD $10,000 ( ₹6 lakh) to CAD $20,635 ( ₹12 lakh). Students will have to look at more options in Europe now." A GIC acts as a proof that the student has the means to live and pay for expenses in Canada.

FRANKFURT, GERMANY : The European Central Bank left its key interest rate untouched at a record-high 4% on Thursday, keeping credit expensive for businesses and consumers as it tries to make sure inflation is firmly under control before cutting borrowing costs — a move expected later this year. The question is, how much later this year. Financial markets are expecting a rate cut as early as April, while ECB President Christine Lagarde has indicated it likely would happen this summer.

net migration to the country compensated for its low birth rate and ageing population, the statistics office said on Thursday. The increase was in line with averages seen between 2012 and 2021, but considerably weaker than 2022, when hundreds of thousands of Ukrainian refugees came to Germany seeking shelter. Migration is a key topic in Germany currently, where the government has bolstered border controls and promised to speed up deportations, while also addressing the need for foreign workers with reforms easing access to citizenship. The far-right party Alternative for Germany (AfD) has surged to second place in opinion polls, seizing on migration as a key concern for voters. The statistics office put net migration to Germany at between 680,000 and 710,000 people in 2023.

(Reuters) -Autonomous vehicle technology company Aurora Innovation said on Wednesday it had cut 3% of its workforce as part of a reorganization exercise.

Switzerland’s financial markets authority is getting a new chief executive as the country looks at ways to strengthen banking regulations following the crisis at Credit Suisse

Germany’s train drivers have brought rail traffic to a standstill again when they began a six-day strike to push their demands in a rancorous dispute with the country’s main railway operator over working hours and pay

By Arsheeya Bajwa

By Tom Wilson