The chances for Germany’s Social Democrats leader Kurt Beck to lead his party into the upcoming national elections was in doubt after the domestic party revolution inclined SPD into chaos. Mt Kurt Beck by now is not popular politically after he did not keep his words by backing a controversial coalition with the anti-reform left […]
Last Thursday saw pollsters from the office of Central Statistics and Meteorologists join sanitation workers, bank officials and teachers in the wave of cautioning strikes occurring across the public service sector. This new action began just hours prior to employers and union representatives embarked on two days of talks ,in Potsdam, on wages and conditions. […]
E.ON, Germany’s major energy service provider, posted its fourth quarter profits, which fell more than had been estimated. Revenues of the energy service provider fell 23%, ending at 1.89 billion euros (2.9 billion dollars). According to the median estimation of seven analysts that were surveyed by Bloomberg, profits of E.ON was estimated to be around […]
Business leaders from Europe have warned that the euro may suffer if the EU fails to build up prevailing political organizations in order to stabilize the European Central Bank. President of Business Europe, one of the leading Pan-European Business organizations, Ernest-Antoine Seilliere, said that at present there is no stability between the supremacy of the […]
For the first time in almost a week European stocks saw upward movement. The momentum being led by the regions leading insurance company, Allianz SE, phone manufacturer Nokia, and the largest bank in the region HSBC Holdings. Estimations for the Dow Jones Stoxx 600 index were down to the lowest level since 2002. As reports […]
A fresh round of public sector strikes has created chaos within Germany’s public transport system. On March 6th, as members of labor union Ver.di held the strike, airports and other public transport systems were completely paralyzed. These unusual strikes affected state-run institutions such as healthcare centers and hospitals as well, though not to the […]
Russian gas giant, Gazprom, and Ukraine’s energy monopoly, Naftogaz Ukrainy, agreed last Wednesday to resume shipments to Kiev, which has been causing much concern to the European region.
This comes in spite of allegations of unfulfilled contracts and non-paid debts on the part of the Gazprom; who prior to this issue had a very good […]
The European consumer expenditure that accounts to about 60 % of the financial system, declined for the first time in the fourth quarter restricting the economic growth of the region. Since 2001 the consumer expenditure in the European region fell down to 0.1 % for the first time since six years. This happened after developing […]
On 4th March, finance minister of Europe made clear that their main concern about the euro against the US dollar. They believed that they had not forced down to manage the intercessions of the central bank in the markets of foreign exchange. Finance ministers from the Eurozone’s 15 countries issued a report on 3rd March […]
Tensions between the German and French leaders appear to have relieved as they have found solutions on the Mediterranean Union proposal. A freezing burst in the German-French relations might be melting at-least on the serious problem which had divided Paris and Berlin. On 3rd March, both Nicholas Sarkozy, French President and Angela Merkel, German Chancellor […]
Russian’s natural gas company Gazprom stopped its supply of gas to Ukraine after Ukraine failed to solve the disputes of debts which raised concerns over the European supplies. Sergei Kupriyanov said to the reporters in Moscow that Gazprom has cut down its supplies to Ukraine by almost 25 %. However, Gazprom is ready to supply […]
HSBC has cautioned that the rotation of its business in US might capture until the end of next year, since it disclosed a 17.2 billion dollars strike from the loan provisions and bad debts. The HSBC group exclaimed its write-downs in relation to the non-payments in the last year which climbed up to 63 % […]
The European inflation remained at a record high of 3.2 % in the month of February. This will further enhance possibilities of the ECB’s rate of interest to be left tightly on hold at the council meeting on Thursday the 7th of March. The ECB overturned its representation as a sluggish business, through its quick […]
Europe’s leading bank HSBC Holdings Plc revealed its second half profits of the year 2007 which rose up to 18 % since budding market loans and an accounting gain alleviates the subprime losses of the United States. According to the estimate of thirteen analysts investigated by Bloomberg, HSBC’s net income most likely rose up to […]
E.ON, Germany’s major energy service surprisingly made an announcement that it is likely to vend its transmission network, that might influence the European Commission’s future plan to ease up the energy sector. On Thursday the 28th of February, E.ON announced this breakup that could in fact influence the constant combat between the governments of the […]
The Russian leading gas producer Gazprom is expected to cut down shipments of natural gas to its neighboring country Ukraine on 3rd of March. Due to the price disputes which dented the gas supplies to Europe in the year 2006, both the countries confronted on their main energy supplies. At present the Russian gas dominant […]
On the 28th of February, the Dollar went one step lower to reach a record low against the Euro. The dollar has been doing very badly in the recent past against the euro. On Thursday it came down a bit too low to make a record. The reason for the decline in dollar value on […]
On the 28 of February, the chairman of the largest bank in Switzerland had to face the demand of majority of the shareholders in the bank for his resignation. The angry shareholders were asking for his resignation as a result of him admitting some of the mistakes the bank had made as a result of […]
On the 29th of February it was confirmed that the economic sentiment in the Euro zone has deteriorated a lot more than what was forecasted for the month of February. But inflation has remained at the forecasted level itself although many economic data suggests that energy and food costs triggered a record shoot up in […]
The job market of Germany seems to be heating up because the unemployment rate in the country slid down to lowest in February this year since November 1992. Pleasant weather and worldwide demand in cars and machinery forced companies to increase their number of workers. The Federal Labor Agency in Nuremberg said that the unemployment […]