DIRS.INFO The most relevant business & tech news

☆ China-Germany Cooperation Has Become More Solid and Dynamic - China's Xi
▼ + stars: | 2023-11-03 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

BEIJING (Reuters) - Cooperation between China and Germany has become more robust, solid and dynamic, Chinese President Xi Jinping told German Chancellor Olaf Scholz through a video link chat on Friday. In a wide-ranging discussion that touched on global trade, climate goals, the Israel-Hamas war and Ukraine crisis, the two leaders agreed that China-German relations are improving on several fronts. "China-Germany trade is developing steadily, two-way investment enthusiasm is high, and the cooperation between the two countries is becoming more stable, more solid and more dynamic," Xi was quoted as saying by state broadcaster China Central Television (CCTV). Xi said both countries must not only develop good bilateral relations, but also safeguard the international order and multilateralism and work together to address global challenges, according to state media. In their meeting last November, both leaders jointly condemned threats of using nuclear weapons as the Ukraine-Russia conflict escalated.

Persons: Xi Jinping, Olaf Scholz, Xi, Scholz, Ella Cao, Bernard Orr, Tomasz Janowski, William Maclean Organizations: China Central Television, European Union Locations: BEIJING, Cooperation, China, Germany, Israel, Ukraine, Russia, Palestinian

[1/2] Pedestrians walk past the main entrance to the Reserve Bank of Australia building in central Sydney, Australia, October 3, 2016. Interest rate swaps markets are only attaching a one-in-three probability of a hike, and around a two-in-three likelihood of no move. In another Reuters poll, economists said they expect annual consumer price inflation in South Korea to have slowed in June to 2.85% from 3.30%. Figures on Monday showed that factory activity in South Korea shrank for a record 12th consecutive month in June. Here are key developments that could provide more direction to markets on Tuesday:- Australia interest rate decision- South Korea inflation (June)- Germany trade balance (May)By Jamie McGeever; Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

Persons: David Gray, Jamie McGeever, Marguerita Choy Organizations: Reserve Bank of Australia, REUTERS, U.S, Investors, Japan, Wall, Traders, Thomson, Reuters Locations: Sydney, Australia, U.S, Asia, South Korea, Korea, Germany

☆ Brexit an 'economic disaster' for UK and German trade - DIHK
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

BERLIN, June 22 (Reuters) - Brexit has been an "economic disaster" for trade and investment ties between the United Kingdom and Germany, leading to a fall in German direct investment and seeing the UK decline in importance as a trading partner, German economists said. "Brexit is an economic disaster for both sides of the channel," Volker Treier, head of foreign trade at the German Chamber of Industry and Commerce (DIHK), told Reuters on Thursday. According to the DIHK, some 2,163 German companies are now active in the UK, 5.2% fewer than in 2016. Germany Trade and Invest (GTAI), an organisation that helps international companies set up business in Germany, has counted more than 1,000 new businesses from the UK since the Brexit vote. Germany's size and central location are an advantage when it comes to attracting UK companies, he added.

Persons: Volker Treier, Treier, Robert Hermann, Rene Wagner, Maria Martinez, Emma Rumney Organizations: European Union, German Chamber of Industry and Commerce, Reuters, Germany Trade, Invest, EU, Thomson Locations: BERLIN, United Kingdom, Germany, Britain, U.S, Switzerland

Berlin has agreed subsidies worth nearly 10 billion euros with the U.S. chipmaker, a person familiar with the matter said, more than the 6.8 billion euros it had initially offered Intel to build two leading-edge facilities in the eastern city. "Today's agreement is an important step for Germany as a high-tech production location – and for our resilience," Scholz said after Monday's signing. Globally, semiconductor manufacturing is expected to become a trillion-dollar industry by 2030, expanding from $600 billion in 2021, according to McKinsey. Initially, Intel wanted to invest 17 billion euros in the Magdeburg plant, an amount that has nearly doubled to more than 30 billion. About 7,000 construction jobs will be created in the first expansion, plus around 3,000 high-tech jobs at Intel and tens of thousands of jobs across industry, the U.S. chipmaker said.

Persons: Olaf Scholz, Pat Gelsinger, Scholz, Israel, Dado Ruvic, Robert Hermann, Taiwan's TSMC, Tesla, Robert Habeck, chipmaker, Gelsinger, Maria Martinez, Riham, Christoph Steitz, Rachel More, Jason Neely, Sharon Singleton, Catherine Evans Organizations: Intel, Intel Intel, Germany's, U.S, AMD, Nvidia, Samsung, Union, McKinsey, REUTERS, Germany Trade, Invest, Reuters, Germany, Thomson Locations: Germany, Frankfurt BERLIN, STOCKHOLM, Magdeburg, Europe, Berlin, Saxony, Anhalt, EU, chipmaking, Poland, United States, South Korea, Taiwan, Frankfurt, U.S, Ireland, France, Asia

☆ Morning Bid: Hawkish pause for thought?
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

Asian equities are carrying on the global rally, setting Europe up nicely to do the same. The Fedspeak that has been such a big driver of markets in recent weeks, will go quiet in the days ahead with officials in a blackout period. There's been a slight pullback in expectations for further tightening after last week's data showed euro-area CPI cooling more than analysts predicted. Lagarde said that day that there was still "ground to cover" in the tightening cycle. The lira weakened more than 1% to 21.12 per dollar in thin Asian trading, approaching the record low of 21.80 marked last week.

Persons: Kevin Buckland, Chris Weston, Christine Lagarde, There's, Lagarde, Ignazio Visco, Brent, Tayyip Erodogan, Mehmet Simsek, Sam Holmes Organizations: Fed, Reuters Graphics Reuters, ECB, Economic, Monetary Affairs, Bank of Italy, PPI, Thomson Locations: Europe, United States, Saudi Arabia, OPEC, Germany, Switzerland, Spain, Italy, France

☆ Morning Bid: Next up ECB - Will it be a hawkish 25 or dovish 50?
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +2 min

[1/2] Signage is seen outside the European Central Bank (ECB) building, in Frankfurt, Germany, July 21, 2022. REUTERS/Wolfgang Rattay/File PhotoA look at the day ahead in European and global markets from Vidya Ranganathan. The spotlight moves swiftly from the Fed's "possible pause or pivot" message overnight to the European Central Bank, where the direction of rates is not in question. It will be a seventh rate rise for the ECB, the central bank for a 20-country zone whose headline inflation is 7%, and it has so far dismissed the ongoing banking crisis as U.S.-specific. Will the ECB go for a heavier 50 basis-point hike and signal a possible pause, allowing President Christine Lagarde to echo Fed Chair Jerome Powell's "credit tightening" excuse?

☆ Jobs report to give clues about where economy is headed
▼ + stars: | 2023-01-29 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

Investors will get another clue when the January jobs report is released on Friday. Economists predict that 185,000 jobs were added last month, a slowdown from the gain of 223,000 jobs in December and 263,000 in November. A further deceleration in the labor market would likely please the Fed, as it would show that last year’s rate hikes are successfully taking some air out of the economy. Along those lines, average hourly earnings, a measure of wages that is also part of the monthly jobs report, are expected to increase 4.3% year-over year. So far, tech earnings season is not off to an inspiring start, with Microsoft (MSFT), Intel (INTC) and IBM (IBM) all reporting weak results.

Search resuls for: "Germany Trade"

7 mentions found