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☆ Trump victory deals latest severe blow to a struggling Germany
▼ + stars: | 2024-11-07 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Krisztian Bocsi | Bloomberg | Getty ImagesDonald Trump's election as U.S. President could mark yet another major blow for the struggling German economy. The print came after the German economy ministry in October said it was now expecting the country's economy will contract, rather than grow this year. Trump's victory could make matters worse. Reliance on exportsThe German economy is heavily reliant on exports — and Trump is set to slap tariffs and other restrictions on imports. The German statistics office Destatis last month said that the U.S.' importance as a trading partner for Germany has been growing.

Persons: Olaf Scholz, Germany's, Krisztian Bocsi, Donald Trump's, Moritz Schularick, Trump, Schularick, ifo, Morningstar DBRS, Lisandra Flach Organizations: Bloomberg, Getty, PMI, P Global, Hamburg Commercial Bank, Kiel Institute, Trump, Reliance, China, Beijing, Destatis, ifo Center, International Economics, European Union, EU Locations: Berlin, Germany, Federal Republic of Germany, Europe, U.S

☆ Point of no return: Australians fight for the right to work from home permanently
▼ + stars: | 2023-08-01 | by ( Byron Kaye | ) www.reuters.com time to read: +6 min

You can actually finish work at five, rather than finishing at five spending 45 minutes trying to get home." When you have a jolt, you never return to the way the world was," said John Buchanan, head of the University of Sydney's Health and Work Research Network. That same week, the public sector union struck a deal the which lets Australia's 120,000 federal employees request work-from-home an unlimited number of days. By comparison, Canada's federal workers ended a two-week strike in May with a wages agreement that came without the WFH protections they wanted. Among employees with WFH experience, 19% wanted to return to the office full-time, the survey found.

Persons: David Gray, SYDNEY, Nicholas Coomber, Coomber, Jamie Dimon, Elon Musk, John Buchanan, We're, Jones Lang Lasalle, Melissa Donnelly, WFH, Mathias Dolls, Jim Stanford, Stanford, Byron Kaye, Miral Organizations: REUTERS, JPMorgan Chase, Twitter, University of Sydney's Health, Work Research, Commonwealth Bank of Australia, National Australia Bank, NAB, European Union, Community, Public Sector Union, CBA, ifo, Macroeconomics, Stanford University, Workers, Centre, Australia Institute, Thomson Locations: Melbourne, Southbank, Australia, New Zealand, Tokyo, New York, JLL.N, Hamburg

☆ Canadians and Brits spend the most time working from home, even though Americans want to most, survey shows
▼ + stars: | 2023-07-19 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

It found that Canadians and Brits spend the most time working from home. US workers are in third place, despite both staff and employers wanting to spend the most time. It found Americans were in third place for the number of days spent working from home, at an average of 1.4 per week. That's only narrowly behind the UK's 1.5, and Canada, whose workers spend an average of 1.7 days working from home each week. Globally, workers spend an average of 0.9 days working from home, despite employers planning for 1.1 days, and staff wanting two days.

Persons: That's, Mathias Dolls Organizations: Brits, Service, IFO, Macroeconomics, McKinsey Locations: Wall, Silicon, German, Canada, Koreans

☆ Ukrainian refugees could help Germany's labor market, but not for long: They're 'ready to go home'
▼ + stars: | 2023-02-24 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +3 min

Germany's labor market is under pressure, but the recent influx of Ukrainian refugees is "no silver bullet" for the workforce issues. Germany's labor market is under severe pressure, and the recent influx of Ukrainian refugees is unlikely to solve the country's workforce issues in the long term. "If I compare to the previous asylum seekers, Ukrainians are clearly better educated and have integrated much faster into the German labor market," he added, noting that Germany is an attractive country for people looking to join the labor market. But Ukrainian refugees can't be expected to fill the gaps in the German labor market. Language barriersAround 60% of Ukrainian refugees in Germany perceived language barriers as the biggest challenge in their new environment, according to an OECD survey.

The visit — the first by a G7 leader to China in roughly three years — comes as Germany slides towards recession. A spokesperson for Hamburger Hafen und Logistik (HHLA), the company operating the port terminal, told CNN Business on Thursday that it was still negotiating the deal with Cosco. “The restrictions are suffocating economic growth and heavily impact China’s attractiveness as a destination for foreign direct investment,” he told CNN Business. The ministry did not respond to a request for comment from CNN Business. He predicted that “the large majority will stay committed to the Chinese market and is expecting to expand their business.”Companies appear to be toeing that line.

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