After months of labor strife and fruitless discussions between the company and Germany’s biggest labor union, Volkswagen’s factory workers walked off the job on 2 December.
Tag: Germany
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GERMANS CUT SPENDING AS ECONOMY WEAKENS, SURVEY FINDS
Germans are continuing to lose confidence in their economic future, a new survey found.
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TOP TREND 2024: EV GO FU
Europe’s weak economy, the slumping market for electric vehicles (EVs), and sharpened competition, especially in and from China, has prompted Ford Motor to announce layoffs of about 4,000 workers on the continent—about 14 percent of its workforce there—before 2028.
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WOLFSPEED ABANDONS PLAN FOR CHIP FACTORY IN GERMANY
U.S. chip maker Wolfspeed has suspended plans to build a €3-billion, cutting-edge semiconductor factory in Germany, damaging chancellor Olaf Scholz’s plan to transform the country into a high-tech hotbed as its flagship auto industry continues to decline.
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WWII ENEMIES UNITE: GERMANY’S RHEINMETALL TO PRODUCE GUN BARRELS IN THE UK
What a difference a few decades make. Rheinmetall, Germany’s behemoth arms maker, announced last week that it will begin the production of gun barrels in the U.K. as part of a new defense agreement between London and Berlin—Europe’s two top military spenders.
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GERMANY AND U.K., ECONOMIC BLUES
In Germany, the highly-regarded ZEW Indicator of Economic Sentiment plunged from 19.2 in August to 3.6 in September. Analysts had expected a reading of 15.5.
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AS FORECAST: EUROPEANS TURN TO POPULISTS AS THEIR COUNTRIES GO TO SHIT
Countries like France and Germany have seen a recent rise in populist political parties that were once written off as archaic extremists but have been picking up seats in governments because of a growing public frustration with the political establishment.
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GERMAN EXPORTERS FACE A RECESSION, TRADE GROUP WARNS
Germany’s economic model is under “massive pressure” as manufacturers making goods for export face a recession, the Federation of German Wholesale, Foreign Trade and Services (BGA) warned on 4 September after new data showed foreign trade continuing to decay.
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EUROZONE’S SECOND-QUARTER GROWTH MISSES ESTIMATE
The economic output of the 20-country Eurozone grew just 0.2 percent in this year’s second quarter, Eurostat, the European Union’s statistics agency, reported after previously estimating a 0.3-percent expansion.
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GERMANY AGING LIKE JAPAN, WHILE PUTIN OFFERS RUSSIA AS HAVEN FOR DISAFFECTED WESTERNERS
Europe is dying, not just from yet another calamity of war, but because of the calamity of twisted Western modernity.