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German Business Confidence Slips Unexpectedly in December, Ifo Survey Shows

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German business sentiment unexpectedly weakened in December, highlighting ongoing struggles in Europe’s largest economy, according to a survey released by the Ifo Institute. The Ifo business climate index fell to 87.6 from a slightly revised 88.0 in November, defying expectations of a rise to 88.2. Commenting on the data, Ifo survey head Klaus Wohlrabe said the year was ending without any positive surprises for the German economy.

Economists said the latest reading reinforces concerns that Germany remains stuck in stagnation after two years of contraction, with only modest growth expected. Analysts noted that the decline aligns with recent drops in purchasing managers’ indexes and indicates that a long-anticipated recovery has yet to take hold. Fiscal stimulus measures announced by the government have so far failed to deliver a meaningful boost, partly due to delays in infrastructure spending and rising costs linked to an ageing population.

Outlook indicators also pointed to growing pessimism among companies for the first half of 2026, while assessments of the current situation remained unchanged. Ifo President Clemens Fuest said the year ended without renewed confidence, and economists added that the lack of broad-based economic reforms has weighed on sentiment. Chancellor Friedrich Merz has pledged further reforms, but businesses remain cautious as tangible policy action has yet to materialise.

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Zaporizhzhia Plant Operating on Single Power Line

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The Russian-controlled Zaporizhzhia nuclear power plant in Ukraine is currently running on only one of its two external power lines, Russian management reported on Tuesday. The second line was disconnected due to ongoing military activity, though officials confirmed that radiation levels remain normal. Repair work is planned to restore full power as soon as possible.

Europe’s largest nuclear facility, under Russian control since March 2022, is not generating electricity but depends on external power to keep nuclear material cooled and prevent a meltdown. The plant has experienced multiple power outages recently, including earlier this month, though connections were restored after each incident.

Both Russia and Ukraine have accused each other of shelling the site, raising concerns over safety. In September and October, the plant was without external power for 30 days, relying on backup diesel generators until a damaged line was repaired during a temporary local ceasefire coordinated with the U.N. nuclear agency.

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PSG to Pay Mbappe €60 Million in Court Ruling

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Paris Saint-Germain has been ordered by a French court to pay former striker Kylian Mbappe €60 million (£52.5m) in unpaid salary and bonuses. The ruling stems from a long-running contract dispute, with Mbappe initially seeking €263 million in damages while PSG counter-sued for €240 million. The court recognised that PSG failed to pay three months of his salary between April and June 2024, as well as an ethics and signing bonus.

Mbappe, who joined Real Madrid on a free transfer after seven seasons at PSG, had claimed ill-treatment and sought to legally modify his contract to an open-ended deal. The awarded sum primarily consists of bonuses rather than base salary, including the third instalment of his signing-on bonus and paid leave allowance. PSG will comply with the ruling, while retaining the option to appeal.

During his time at PSG from 2017 to 2024, Mbappe became the club’s all-time leading scorer with 256 goals in 308 appearances, winning 15 trophies. The dispute arose after Mbappe declined a move to the Saudi Pro League and refused a contract extension, leading to a protracted legal battle. PSG has expressed its intent to move forward, focusing on collective success and the club’s ongoing achievements without the forward.

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Thousands of 210-Million-Year-Old Dinosaur Footprints Discovered on Italian Mountain

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Thousands of dinosaur footprints dating back around 210 million years have been discovered on a mountain wall inside Stelvio National Park in northern Italy. The tracks, some measuring up to 40cm wide, appear in long, parallel rows and preserve clear impressions of toes and claws. Scientists believe the footprints were made by prosauropods—long-necked, plant-eating dinosaurs that lived during the Triassic period.

The discovery was made last September when a photographer noticed the tracks stretching for hundreds of metres across a steep rock face. Experts explain that during the Triassic era, the area was once a muddy tidal flat before becoming part of the Alpine mountain chain. The footprints suggest that dinosaurs moved in organised herds, including juveniles, and may have displayed complex behaviours such as gathering in circles, possibly for protection.

Researchers also identified occasional handprints alongside footprints, indicating that some dinosaurs rested their forelimbs on the ground. Due to the site’s remote and inaccessible location, scientists will rely on drones and remote-sensing technology to study it further. The Italian Ministry of Culture described the find as an extraordinary scientific treasure, symbolically linking ancient natural history with the region’s upcoming Winter Olympics.

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Tesla Expands Battery Cell Production at German Gigafactory

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Tesla has announced fresh investments to scale up battery cell production at its Gigafactory in Gruenheide near Berlin, aiming to produce up to 8 gigawatt hours of battery cells annually from 2027. The U.S. electric vehicle maker said it will invest an additional three-digit million euro amount, taking total investment in the local battery cell factory to nearly €1 billion.

The company said the expansion is part of a strategy to deepen vertical integration at the site, allowing everything from battery cells to complete vehicles to be manufactured at a single location. Tesla described this as a unique setup in Europe that will help strengthen supply chain resilience and reduce dependency on external suppliers.

Tesla also noted that producing battery cells economically in Europe remains challenging amid competition from China and the United States. The Gruenheide facility, Tesla’s only gigafactory in Europe, currently employs about 11,500 people and plays a critical role as the automaker works to stabilise its position in the European electric vehicle market.

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Bahrain-Based Al Namal Group Enters Indian Market with JVK Motors Showroom Launch in Kochi

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The grand opening of the JVK Motors showroom at Vyttila, Kochi, was held successfully on December 16, marking the official entry of the Bahrain-based Al Namal Group into the Indian market. The initiative to launch JVK Motors in India was led by Dr. Varghese Kurian, Chairman of the Al Namal Group, one of the largest business groups in Bahrain.

The showroom was inaugurated by Sri P. Rajeev, Hon’ble Minister for Industries, Law and Coir, Government of Kerala, in the presence of Dr. Varghese Kurian and noted cine artist Baiju Santhosh. Several dignitaries, industry representatives, and well-wishers attended the inaugural ceremony.

Speaking on the occasion, Dr. Varghese Kurian highlighted the group’s vision to bring innovative and sustainable mobility solutions to India. He noted that the launch of JVK Motors represents a major milestone for the Al Namal Group and reflects its long-term commitment to the Indian market.

The newly inaugurated showroom, located at 49/205B, Underpass, Vyttila, Kochi, Ernakulam – 682019, showcases a range of modern electric vehicles aimed at promoting eco-friendly transportation.

The event marked an important step toward strengthening international business collaboration while supporting Kerala’s and India’s green mobility initiatives.

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Polish Student Arrested Over Alleged Christmas Market Attack Plan

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Polish security services have detained a 19-year-old university student on suspicion of planning a terrorist attack at a Christmas market that could have caused mass casualties, authorities said. The suspect, identified as Mateusz W., is a student at the Catholic University of Lublin and was arrested in late November at his apartment in eastern Poland.

According to officials, the student allegedly sought contact with the Islamic State and intended to carry out an explosives-based attack in one of Poland’s cities during the festive season. Security services said they seized digital data carriers and items linked to Islam during the arrest. Authorities declined to reveal the planned location of the attack, citing concerns about public panic.

Prosecutors have charged the suspect with preparing a terrorist act that could have resulted in deaths or serious injuries, and a court has ordered him held in custody for three months. Polish officials linked the case to earlier incidents involving young suspects planning attacks and urged the public to remain vigilant ahead of Christmas, pointing to past attacks in Europe during the holiday period.

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EU Scrambles to Secure Italy’s Support for Mercosur Trade Deal Amid Growing Opposition

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The European Union and Germany are making an urgent push to persuade Italy to support a long-delayed free trade agreement with South America’s Mercosur bloc, warning the deal could collapse if it is not signed soon. The pact, negotiated over 25 years, would be the EU’s largest trade agreement in terms of tariff reductions, but faces resistance from several member states, according to a senior EU lawmaker.

While Germany, Spain and Nordic countries back the agreement, arguing it would boost exports hit by U.S. tariffs and reduce reliance on China for key raw materials, opposition is mounting elsewhere. France and Poland have raised strong objections, citing concerns that cheap agricultural imports—particularly beef—could harm European farmers. With Poland firmly opposed and France seeking delays, attention has shifted to Italy as the decisive swing vote.

European Parliament trade committee chair Bernd Lange said the deal would fail without Italy’s backing, noting high-level talks involving Italy’s prime minister, Germany’s chancellor and the European Commission president. Although Commission President Ursula von der Leyen hopes to sign the deal in Brazil this weekend, approval from EU governments is still required. Lawmakers warn that if the agreement is not finalised this year, Mercosur countries may abandon negotiations and seek partnerships elsewhere.

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German Business Activity Loses Momentum as Growth Slows in December

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Germany’s private sector growth lost more momentum in December, marking the second straight month of deceleration, according to a PMI survey. The HCOB flash composite Purchasing Managers’ Index fell to 51.5 from 52.4 in November, its lowest level in four months, though it remained above the 50 mark that signals expansion for a seventh consecutive month.

The slowdown was driven by weaker performance in both services and manufacturing. Services activity eased to its weakest pace since September, with slower growth in new business, while manufacturing output and new orders declined more sharply. The manufacturing PMI slipped further into contraction at 47.7, weighed down by falling export demand and reduced factory activity.

Business confidence dropped to an eight-month low amid economic and geopolitical concerns, even as manufacturing sentiment improved slightly on hopes linked to government infrastructure projects, bureaucracy reforms, and defence expansion. Employment in the private sector continued to fall, though at a slower pace, as job gains in services partly offset softer staffing levels in manufacturing.

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EU Backs Down on 2035 Combustion Engine Ban Amid Carmaker Pushback

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The European Commission is poised to ease its 2035 ban on new combustion-engine cars, allowing up to 10% of sales to include non-electric options like plug-in hybrids and range extenders using CO2-neutral biofuels or synthetic fuels. This reversal follows intense lobbying from Germany, Italy, and Europe’s auto sector, including giants like BMW, Mercedes-Benz, Renault, Volkswagen, and Stellantis, as they grapple with competition from Tesla and Chinese EVs. The proposal requires approval from EU governments and the European Parliament.

This marks the EU’s biggest retreat from its aggressive green policies in recent years, with carmakers also urging relaxed 2030 CO2 targets and fines. The European Automobile Manufacturers’ Association (ACEA) has described the situation as “high noon” for the industry. However, EV advocates warn that diluting the 100% zero-emissions goal to 90% could erode investments and hand more market dominance to China.

To counterbalance, the Commission plans incentives for EVs in corporate fleets—which drive 60% of new car sales—potentially with local content rules and tax breaks for small EVs. Credits toward CO2 targets may also reward sustainable practices like low-carbon steel production, though the auto sector prefers incentives over mandates.

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