German Business Activity Falls to 18-Month Low as Services Sector Weakens

By admin June 23, 2026 No comment

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Germany’s private sector activity contracted at its fastest pace in 18 months during June, according to the latest S&P Global survey. The Composite Flash Purchasing Managers’ Index (PMI) dropped to 48.0 from 48.8 in May, falling short of market expectations and remaining below the 50-point mark that separates growth from contraction. The decline was driven […]

BMW Prepares Staff Talks After Profit Warning Amid China Slowdown and Rising Costs

By admin June 20, 2026 No comment

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German luxury carmaker BMW is preparing discussions with employee representatives after issuing its latest profit warning and announcing plans to accelerate efficiency measures. The company cited continued weakness in the Chinese market and rising costs linked to the conflict involving Iran as key reasons for the weaker outlook. Industry analysts believe BMW could consider

US Liquor Maker Shifts Production to Canada Amid Ongoing Trade Dispute

By admin May 30, 2026 No comment

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Minnesota-based Phillips Distilling Company has moved part of its production to Canada after a widespread boycott of American-made alcohol by Canadian provinces severely impacted its business. The company lost around 70% of its Canadian sales following restrictions introduced in response to U.S. tariffs, with its popular Sour Puss liqueur being among the hardest-hit

Germany’s Economic Recovery Stalls as Geopolitical Conflict Deepens Private Sector Contraction

By admin May 21, 2026 No comment

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Germany’s private sector activity has contracted for the second consecutive month in May, as the broader economic recovery faces severe headwinds from the ongoing war involving Iran. The HCOB flash Composite Purchasing Managers’ Index (PMI) for Germany, compiled by S&P Global, ticked up marginally to 48.6 from April’s 48.4, slightly beating analyst

Eurozone Factories Stockpile as War Fears Hit Confidence

By admin May 4, 2026 No comment

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Manufacturers across the Eurozone accelerated purchases of raw materials in April, building up inventories amid fears of supply disruptions and rising costs linked to tensions in the Middle East. The S&P Global Eurozone Manufacturing PMI rose to 52.2, indicating growth, as both producers and customers rushed to secure supplies before prices climb further. Despite the

Euro Zone Manufacturing Growth Hits Four-Year High Amid War-Driven Cost Pressures

By admin April 1, 2026 No comment

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Euro zone manufacturing activity expanded at its fastest pace in nearly four years in March, according to a survey by S&P Global, with the Manufacturing Purchasing Managers’ Index rising to 51.6 from 50.8 in February. While the headline figure signaled growth, analysts noted that supply chain disruptions linked to the Middle East conflict temporarily inflated […]

Russia Turns to Indian Workers to Tackle Labour Shortage

By admin February 11, 2026 No comment

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Russia is increasingly recruiting workers from India to address a severe labour shortage worsened by the war in Ukraine. Officials estimate the country needs at least 2.3 million additional workers, particularly in manufacturing, construction and services. With fewer migrants arriving from Central Asia — traditionally Russia’s main source of foreign labour — Moscow has

Tesla Expands Battery Cell Production at German Gigafactory

By admin December 17, 2025 No comment

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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 […]

German Business Growth Slows in November as Manufacturing Contracts: PMI

By admin November 21, 2025 No comment

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Germany’s private sector lost momentum in November, with manufacturing unexpectedly contracting and the services sector expanding at a slower pace, according to the latest HCOB flash composite Purchasing Managers’ Index (PMI) compiled by S&P Global. The index slipped to 52.1 from 53.9 in October, marking a two-month low. Despite the decline, the reading stayed above

Hungary opens up to Chinese tech despite protests

By admin April 27, 2024 No comment

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Hungary’s ambition in electric vehicle (EV) battery manufacturing has surged, with plans to become a significant player globally. Despite ranking third behind China and the US, Hungary aims to surpass the US soon, as articulated by Foreign Minister Peter Szijjarto during his visit to Beijing. This push aligns with Hungary’s broader strategy of strengthening