Tag Archives: Industry

Investing in Africa may be too risky…

November 29, 2024 By in Hard Facts, Heconomy, Helections, Helplessness, Hideology Tags: , , , , , , , Leave a comment

But it’s not as risky as investing in Germany.

German Fortune 500 companies have announced over 60,000 layoffs this year, but the biggest employee cull is still to come – German companies in the Fortune 500 Europe have announced over 60,000 layoffs this year, in a sign of the country’s ongoing economic malaise that has left manufacturers reeling.

Major German employers, including Bosch, Thyssenkrupp, Deutsche Bahn, and Siemens, have this year announced plans to lay off thousands of workers in a bid to combat falling profits following a rocky post-COVID economic landscape.

German of the day: Nostalgie

November 10, 2024 By in Hard Facts, Helplessness, Hideology, Home Cooking, Hurt Feelings Tags: , , , , , Leave a comment

That means nostalgia.

You know, the sentimental yearning for the happiness of a former place or time? Way back when? In the past?

Germany’s Volkswagen crisis: an ode to nostalgia – Germany’s car manufacturer and long-time economic powerhouse Volkswagen has shaped the lives and memories of generations of Germans. It’s current crisis gives pause to reflect on its importance in Germany’s history.

Sorry, we’re only firing at the moment

November 4, 2024 By in Hard Facts, Heconomy, Helplessness, Home Cooking, Hurt Feelings Tags: , , , , , , , Leave a comment

Hiring war gestern (was yesterday).

German companies’ hiring plans drop to four-year low, Ifo finds – German companies are less willing to hire new staff than at any point in more than four years, data from the Ifo institute showed on Monday, as weakness in Europe’s largest economy has left its mark on the country’s labour market.

Ifo’s employment barometer fell to 93.7 points in October from 94.0 points in September, the lowest level since July 2020.

Breaking up is hard to do

October 30, 2024 By in Hard Facts, Helections, Hideology, Home Cooking, Hurt Feelings Tags: , , , , , , , , , Leave a comment

But somebody has to do it.

Germany’s loveless coalition teeters on brink of break-up – Chancellor Olaf Scholz snubs partners, fuelling speculation of early elections in spring.

Chancellor Olaf Scholz held a much-vaunted “industrial summit” on Tuesday, sitting down with business leaders and union bosses to figure out how to pull Germany out its current malaise. Pointedly left off the guest list: his own finance and economy ministers.

Robert Habeck, the economy minister, responded by unveiling plans for a multibillion-euro, debt-financed investment fund — an idea not previously discussed with cabinet colleagues — while finance minister Christian Lindner simply scheduled his own, rival business summit on the same day…

Speculation is growing in Berlin that the alliance could soon collapse, pulled apart by its own internal contradictions. Several German media outlets have even named a possible date for snap elections — March 9, more than six months ahead of schedule.

Huge funeral attendance

October 28, 2024 By in Hard Facts, Helplessness, Hideology, Home Cooking, Hurt Feelings Tags: , , , , , , , , Leave a comment

At Germany’s automobile industry burial.

Volkswagen AG workers in Germany will pause production on Monday to join rallies about the automaker’s plans for unprecedented factory closures in the country.

Labor leaders plan to inform employees at 11 German sites about the latest on negotiations with the company. The events kick off a contentious week for Europe’s biggest carmaker, which is expected to post declining sales and profit when it reports third-quarter results on Wednesday…

The automaker has had a rough few weeks since it issued its second profit warning in three months in late September. While its premium brands including Audi and Porsche have been the carmaker’s biggest source of profit in recent years, they’re now struggling. Porsche AG on Friday said it’s weighing cost cuts and reviewing its model lineup after a demand slump in China hit its profits.

“Everything that could go wrong went wrong, or is going wrong”

October 24, 2024 By in Hard Facts, Heconomy, Hideology, Home Cooking, Hurt Feelings Tags: , , , , , , , , 1 Comment

Other than that though, alles ist in Ordnung (everything’s OK).

Germany’s lost decade: How the Fortune 500 Europe giant is flirting with long-term irrelevance – There is an elephant in the room of the 2024 edition of the Fortune 500 Europe. It’s not a crisis-riddled company or scandal-hit CEO. Rather, it’s the whole German economy.

For most of the 21st century, economists and neighboring countries have looked to Germany with admiration and envy as it managed to weather economic storms with relative ease, capitalizing on trade with growing economies and expanding the power of its industrial giants in the process.

However, a shifting world order has pulled the carpet out from underneath Germany. The industrial quirks that once helped it outgrow its European peers are fast becoming a burden, and crisis after crisis has exposed a lack of planning at the top of government.

“Declining connectivity” in Germany?

October 14, 2024 By in Hard Facts, Heconomy, Helplessness, Hideology Tags: , , , , , , , , Leave a comment

I wonder why.

It costs over four thousand euros for a commercial aircraft to leave a German airport. In other European countries it costs as little as 500 euros. Some say this has to do with German regulation and “green kerosene” madness but I’m sure there must be a more… reasonable explanation.

Lufthansa CEO concerned more airlines will cut German routes – After airlines such as Eurowings and Ryanair have cut back their connections in Germany due to excessive fees and costs, Lufthansa CEO Carsten Spohr fears a negative impact on Germany as a place to do business.

German of the day: “nicht zufriedenstellend”

October 9, 2024 By in Hard Facts, Heconomy, Helplessness, Hurt Feelings Tags: , , , , , , Leave a comment

That means not satisfactory or unsatisfactory.

Year number two. Germany is on a roll.

Germany expects economy to shrink after cutting 2024 forecast – Government predicts rebound in 2025 after 0.2% decline this year.

Germany is facing its first two-year recession since the early 2000s, as the government downgraded its growth forecast for 2024, predicting a contraction of 0.2 per cent.

“The situation is not satisfactory,” Robert Habeck, economy minister, said on Wednesday.

Car science isn’t rocket science, people

September 23, 2024 By in Hard Facts, Helplessness, Home Cooking, Hurt Feelings Tags: , , , , , , Leave a comment

Nobody wants Volkswagen’s electric cars.

The fewest German drivers do, anyway.

Driving on empty: The German government has few options to help an ailing car industry – Economy Minister Robert Habeck will meet with carmakers — but he has few weapons to stave off a car industry crisis.

Threats of historic job cuts and plant closures at German car giant Volkswagen and plunging earnings elsewhere in the industry are prompting Federal Economy Minister Robert Habeck to hold crisis talks on Monday.

But strained federal finances, fights with China over car tariffs and looming EU environmental regulations leave Habeck with few tools to help an industry which is the country’s economic backbone.

German arms exporters suddenly worried about “humanitarian law”

September 19, 2024 By in Hard Facts, Helplessness, Hideology, Home Cooking, Hypocrisy Tags: , , , , , , , , , Leave a comment

Silly me. I thought that was the only kind of law there was.

Germany has stopped approving war weapons exports to Israel, source says – Germany has put a hold on new exports of weapons of war to Israel while it deals with legal challenges, according to a Reuters analysis of data and a source close to the Economy Ministry.

A source close to the ministry cited a senior government official as saying it had stopped work on approving export licences for arms to Israel due to legal and political pressure from legal cases arguing that such exports from Germany breached humanitarian law.