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☆ Treasury yields fall as investors weigh state of U.S. economy
▼ + stars: | 2024-11-22 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

The 2-year Treasury yield was last trading at 4.3345% after dipping by more than one basis point. U.S. Treasury yields were lower Friday as investors weighed mixed economic data and assessed the state of the economy. Investors considered the current state and outlook for the U.S. economy after Thursday brought a series of mixed data points. Investors also assessed the latest comments from Federal Reserve officials, scanning them for hints about whether a third back-to-back interest rate cut could be announced when policymakers meet again next month. Chicago Federal Reserve President Austan Goolsbee on Thursday indicated that he saw the need for more rate cuts ahead, but cautioned that the pace of reductions could slow.

Persons: Austan Goolsbee, Michelle Bowman Organizations: Treasury, Investors, Wall Street, Philadelphia Federal Reserve, P Global, Federal Reserve, Chicago Federal Locations: U.S

☆ A long-standing debt rule helped collapse Germany's government. Now the policy is ripe for reform
▼ + stars: | 2024-11-22 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +5 min

But what is the debt brake and why is it so contentious? Germany's debt brake, or 'Schuldenbremse,' is a fiscal rule that forms part of the German constitution. In some exceptional circumstances, the debt brake can be suspended — this happened for example during the Covid-19 pandemic. watch nowWhen the debt brake was first implemented, its advocates argued that it would ensure a sustainable, responsible approach to public finances and spending. Critics meanwhile, say the debt brake is too restrictive, and that it has hampered investment which is necessary for a successful future.

Persons: Olaf Scholz, John Macdougall, Christian Lindner, Scholz, Lindner, Philippa Sigl, CNBC's Annette Weisbach, Holger Schmieding, Carsten Brzeski Organizations: Bundestag, Afp, Getty, Former, Green, European Commission, CNBC, ING Locations: Germany, Russia, Ukraine

☆ 10-year Treasury yield dips as investors await economic data, Fed speeches
▼ + stars: | 2024-11-21 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

One basis point equals 0.01%. The 10-year Treasury yield fell more than 1 basis point to 4.390%, while the yield on the 2-year Treasury slipped by nearly 2 basis points to 4.291%. The benchmark 10-year Treasury yield dipped on Thursday as investors await a fresh batch of economic data and a flurry of speeches from Federal Reserve policymakers. Existing home sales for October and the Kansas City Fed survey for November are scheduled to follow slightly later in the session. Cleveland Fed President Beth Hammack, Chicago Fed President Austan Goolsbee, Kansas City Fed President Jeff Schmid, Fed Vice Chair for Supervision Michael Barr are all poised to deliver remarks about the U.S. economy on Thursday.

Persons: Donald Trump's, Beth Hammack, Austan Goolsbee, Jeff Schmid, Michael Barr, Michelle Bowman, Samantha Subin, Sophie Kiderlin Organizations: Treasury, Federal Reserve, Philadelphia Fed, Kansas City Fed, Cleveland Fed, Chicago Fed Locations: Russia, Ukraine, Washington, Moscow, Kansas, U.S

☆ Why Musicians Aren't Making Money: Streaming, Record Labels & TikTok
▼ + stars: | 2024-11-21 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +19 min

Music has always been a business, but streaming, TikTok, inflation, and the ballooning costs of touring have dramatically altered a musician's traditional routes to making money. But a lot has changed since streaming usurped radio play as the kingmaker of a rising musician's career. Even the hitmakers who dominate your "For You" page are getting paid "almost nothing" from TikTok, as one music exec told Billboard. 1 song on TikTok doesn't mean anything in the grand scheme of things," Tinashe's longtime manager, Simonne Solitro, explains. "That's not just me," Violet tells me, "that's literally every single artist I know."

Persons: Raye, Conrad, She'd, Taylor, Taylor Swift, Stone, You've, there's, everybody's, Donald Passman, Kevin Baird, Chris Burnett, Chuck Berry, he'd, it's, —, TikTok, Ariana Grande, JC Olivera, Justin Ayers, Club's Baird, Tayla Parx, she's, Ariana Grande's, It's, Parx, that's, Muni, who's, Rihanna, Kelly Clarkson, Alexis, Long, I'd, Rachel Chinouriri, I've, Chinouriri, Sam Halliday, Alex Trimble, Katy Cummings, Derek Crownover, Loeb, he's, Crownover, Simonne, Tinashe, Tinashe's, Simonne Solitro, Solitro, Normani, aren't Taylor Swift, Jennifer Lopez, Bad Bunny, Shirlaine Forrest, Matt Jelonek, Tessa Violet, hasn't, That's, Violet, Solitro's, Tessa Violet's, Sarah Pardini, Halsey, Adele, Sophie Turner, Florence Pugh, Pugh, jostling Organizations: Spotify, Music, Northern, Cinema, BI, Apple Music, Billboard, Apple, YouTube, BMI, Suns, TaylaMade Inc, Fifth Harmony, Parlophone, Atlas Artists, Ticketmaster, Promoters, BI Social, Capitol Music, Capitol, Columbia, Chartmetric, DMs Locations: Manhattan, British, Northern Irish, TikTok, London, Los Angeles

☆ Treasury yields rise as investors weigh geopolitical tensions, economic data
▼ + stars: | 2024-11-20 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was up by over four basis points to 4.4178%. The 2-year Treasury yield was last trading at 4.2932% after rising by more than two basis points. U.S. Treasury yields were higher on Wednesday as investors considered the geopolitical situation and assessed the latest economic data. Elsewhere, investors weighed the latest economic data, with new housing starts falling short of expectations in October, and building permits slipping month over month, according to data published Tuesday. Later in the week, investors will be watching out for October's flash purchasing managers' index reports from S&P Global for the services and manufacturing sector.

Persons: Vladimir Putin, Donald Trump's Organizations: Treasury, U.S, Investors, Global, Federal Reserve Locations: Russia, Ukraine, U.S, Ukraine's, Kyiv

☆ Laken Riley death: What Allyson Phillips has endured during the trial of the man accused of killing her daughter
▼ + stars: | 2024-11-19 | by ( Holly Yan | ) edition.cnn.com time to read: +6 min

Minutes before her death, Riley called and texted her mother to see if she wanted to catch up. 9:24 a.m.: Riley’s mother called her daughter back, but Riley didn’t answer. 9:37 a.m.: Riley’s mother texted her daughter: “Call me when you can.”9:51 a.m.: Riley’s mother called her daughter again. 9:58 a.m.: Riley’s mother texted her daughter: “You’re making me nervous not answering while you’re out running. 11:47 a.m.: Riley’s mother texted her daughter: “Please call me, I’m worried sick about you.”12:07 p.m.: Riley’s mother called her daughter again.

Persons: Allyson Phillips, Jose Ibarra’s, Phillips, John, Jason Riley, Riley’s, Riley, Phillips sobbed, Riley “, ”, “, Ibarra, Ashley Hinkle, ” Hinkle, Joshua Epps, ” Epps, ” “, Epps, Sophie Raboud, Riley didn’t, I’m, asphyxiated, Michelle DiMarco, Asphyxia, DiMarco, asphyxia Riley, ” DiMarco, CNN’s Maxime Tamsett, Dawn Sawyer, Rebekah Riess, Eric Levenson, Sara Smart Organizations: Georgia CNN, University of Georgia’s, UGA, Augusta University’s College of Nursing, of Investigation, Georgia Bureau of Investigation Locations: Athens, Georgia, Venezuela, University of Georgia’s Oconee Forest, Ibarra , Georgia, Lake Herrick

☆ European markets set for higher open as investors look to shake off negative sentiment
▼ + stars: | 2024-11-18 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

City of London skyline view looking over the River Thames and Waterloo Bridge at sunset on 10th February 2024 in London, United Kingdom. European markets were on track to rise as a new trading week kicks off Monday, with investors looking to shake off last week's negative sentiment and attention turning to regional inflation data. Italy's FTSE MIB was also on track to open higher, adding 158 points to 34,060. Investors this week will be looking to several key regional data points, including the latest inflation data out of the U.K. on Wednesday. The figures come after Friday's U.K. gross domestic product reading, which came in at 0.1% in the third quarter, falling short of expectations.

Persons: Germany's DAX, Christine Lagarde Organizations: CAC, Markets, European Central Bank, ECB Locations: London, United Kingdom

☆ Russia hits power grid with one of its largest-ever attacks on Ukraine, foreign minister says
▼ + stars: | 2024-11-17 | by ( Sophie Tanno | Maria Kostenko | ) edition.cnn.com time to read: +1 min

CNN —Russia has launched one of the largest aerial attacks on Ukraine, Ukraine’s foreign minister said, hitting energy infrastructure across the country, killing at least two people, and causing widespread damage. Strikes were reported in several major cities, from Odesa in the south, Dnipro in the east to RIvne in the west. Ukraine’s President Volodymyr Zelensky said approximately 120 missiles and 90 drones were launched overnight in the Russian attack. Unfortunately, some facilities sustained damage from direct hits and falling debris,” Zelensky said Sunday morning. The Ukrainian leader added that some areas remain without power, which authorities are working to restore.

Persons: –, Andrii Sibyha, Sibyha, Vladimir Putin’s, Olaf Scholz, Putin, Volodymyr Zelensky, Zelensky Organizations: CNN, Authorities, Kyiv, Ukraine’s Locations: Russia, Ukraine, Odesa, Dnipro, RIvne, Kyiv –, Ukaine

Ford Motor Company has agreed to pay $165 million, the second-largest auto penalty ever issued by the National Highway Traffic Safety Administration, to settle charges it failed to comply with federal recall requirements. “The total civil penalty amount of $165 million is second only to the Takata airbag consent order in the agency’s 54-year history,” the NHTSA said in a statement. The Ford penalty stems from a multi-year investigation into the automaker's handling of defective rollover safety cameras on a number of its models, including its popular F-150 trucks and Explorer SUVs. In a statement, Ford said it disagreed with NHTSA's findings but that it was pleased to administratively settle the dispute with the regulator. Power's "initial quality" report earlier this year as a sign the company is making progress on addressing those issues.

Persons: Ford, Sophie Shulman, ” Ford, Jim Farley, Farley Organizations: Ford Motor Company, National, Traffic Safety Administration, NHTSA, Ford, Barclays Locations: J.D

☆ Zelensky says Ukraine war will end ‘faster’ under Trump presidency
▼ + stars: | 2024-11-16 | by ( Sophie Tanno | Maria Kostenko | ) edition.cnn.com time to read: +1 min

CNN —Ukrainian President Volodymyr Zelensky has said Russia’s war in Ukraine will end “faster” when Donald Trump takes over as US president. Trump, who was elected for a second term earlier this month, has repeatedly claimed that the Ukraine-Russia war would not have started if he had been president. In July, he said he could settle the war in one day. Throughout his campaign, the president-elect and his running mate, JD Vance, cast strong doubts on continued US commitment to Kyiv. The war has been ongoing for more than two and a half years, following the large-scale invasion of Russian forces in February 2022.

Persons: Volodymyr Zelensky, Donald Trump, Suspine, Zelensky, “, ”, Trump, JD Vance Organizations: CNN, White Locations: Ukraine, Russia, Kyiv, Russian

☆ Ford fined up to $165 million over delayed vehicle recalls
▼ + stars: | 2024-11-14 | by ( Erika Tulfo | ) edition.cnn.com time to read: +3 min

CNN —Ford is being fined up to $165 million after the National Highway Traffic Safety Administration ruled the company moved too slowly in recalling cars with faulty rearview cameras. The agency’s consent order says Ford failed to issue a “timely recall” and did not submit quarterly reports on time. The models covered by the Ford recall included the 2020 Ford Edge, Escape, Expedition, Explorer, F-150, Mustang, Ranger and Transit, as well as the Lincoln Corsair and Nautilus. Of the $165 million civil penalty fined by NHTSA, Ford must immediately pay $65 million up front. Ford and the NHTSA will meet quarterly to ensure its compliance with the terms of the consent order.

Persons: CNN — Ford, Ford, Maria Buczkowski, Sophie Shulman Organizations: CNN, Traffic Safety Administration, NHTSA, Ford, Lincoln Corsair, Nautilus

☆ Lindsey Vonn: US skiing legend to make surprise return after five-year retirement
▼ + stars: | 2024-11-14 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

CNN —Lindsey Vonn, one of the greatest skiers of all-time, is set to end her five-year retirement and return to the sport. “Getting back to skiing without pain has been an incredible journey,” Vonn said in a US Ski & Snowboard statement on Thursday. But after partial knee replacement surgery in April, Vonn has been testing her fitness over the last few months. “Lindsey has made an indelible mark on alpine skiing and our organization throughout her career. “I’ve always enjoyed racing in Cortina and I’ve had a lot of success in Cortina,” Vonn said.

Persons: CNN — Lindsey Vonn, Vonn, “, ” Vonn, “ Lindsey, We’re, ”, Sophie Goldschmidt, Jonathan Nackstrand, “ I’ve, I’ve Organizations: CNN, US Ski Team, Ski Team, US, Getty, The New York Times, Cortina d’Ampezzo, Cortina Locations: Colorado, AFP, Italy

☆ Germany sets early election date for February after collapse of the ruling coalition
▼ + stars: | 2024-11-12 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Germany is set to hold a federal election in February, earlier than Chancellor Olaf Scholz had originally proposed after his ruling coalition collapsed last week. The election is set to be held on February 23, according to sources within the parliamentary group of Scholz' social democratic party (SPD). It is a necessary step ahead of early elections in Germany as the chancellor must first call for the vote in parliament. Lindner was replaced by Jörg Kukies who was appointed as the new finance minister on November 7. Scholz' SPD and the Green party will form a minority government in Germany until the election in February.

Persons: Olaf Scholz, Joerg Kukies, Scholz, Christian Lindner, Chancellor Olaf Scholz, Lindner, Jörg Kukies Organizations: Bundestag, Authorities, Green Locations: Berlin, Germany

☆ ‘Venom 3’ leads box office again, A24’s ‘Heretic’ scares up $11 million bebut in sleepy weekend
▼ + stars: | 2024-11-11 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Variety-Live-Blog-Byline-Image.Png | ) www.nbcnews.com time to read: +5 min

“Venom: The Last Dance” is looming over the domestic box office in its third weekend of release. As a result, overall domestic box office revenues remain down more than 11% from 2023 and nearly 27% from 2019, according to Comscore. “Heretic,” featuring “Notting Hill” star Hugh Grant playing against type as a villain, notched third place with $11 million from 3,221 venues. The well-reviewed family film has endured at the box office with minimal week-to-week drops (this weekend was down only 11%), earning $130.2 million domestically and $292 million worldwide so far. Ticket sales declined 52% from its soft $5 million debut, bringing the Robert Zemeckis-directed film to $9.3 million domestically.

Persons: “, ”, Hill, Hugh Grant, Sophie Thatcher, Chloe East, Grant, Critics, David A, Gross, Dallas Jenkins, Judy Greer, Pete Holmes, Lauren Graham, Tom Hardy, Eddie Brock, ” Gross, Dwayne “, ” Johnson, Paramount’s “, ” “, Tom Hanks, Robin Wright, Robert Zemeckis, Ralph Fiennes, Paul Dergarabedian Organizations: Rotten, Entertainment Research, Sony Pictures, Everett, Universal, DreamWorks, Miramax, Sony Locations: Hollywood, North America, New York

In his last term, Trump paused some work visa programs used by tech firms to hire skilled talent. This order left many tech workers stranded outside of the US in 2017. The H-1B visa program is the nation's largest temporary work visa program, with over 600,000 workers across 50,000 employers. Vice President-elect JD Vance has a venture capital background, and Musk is an immigrant himself who has said he was on an H1-B visa previously. Shin Yi Chong, who received her H1-B visa in 2019, was recently laid off from her tech job as a product manager.

Persons: Donald Trump's, Trump, —, Donald Trump, Michael Greeley, What's, Hiba Mona Anver, Anver, Jenny Fielding, Biden, Palo, Sophie Alcorn, Anna Rathbun, Aaron Levie, Elon Musk, Levie, Elon, Alcorn, JD Vance, Anna Moneymaker, Chris Farmer, Vance, Musk, Shin Yi Chong, Shubhangi Goel, Riddhi Kanetkar Organizations: Service, Flare Capital Partners, Trump, Ventures, Hire, Experts, Business Locations: Cleveland, It's

☆ Princess of Wales attends Remembrance events with royal family
▼ + stars: | 2024-11-10 | by ( Lauren Said-Moorhouse | ) edition.cnn.com time to read: +6 min

London CNN —Catherine, Princess of Wales joined the royal family as they paid their respects to all those who have lost their lives in conflicts at the annual Remembrance Day service in London on Sunday. Prince William also left a floral tribute, featuring the Prince of Wales feathers and a new ribbon in Welsh red, at the war memorial. Toby Melville/ReutersWorld War II veterans Alec Penstone and Mervyn Kersh meet on Horse Guards Parade ahead of the Royal British Legion’s march past the Cenotaph. Kate, 42, announced she was cancer free in September and would be taking a phased approach to resuming public royal duties. The Princess of Wales joined , Britain's Prince William, Prince of Wales, Britain's King Charles and Britain's Princess Anne, Princess Royal attend "The Royal British Legion Festival of Remembrance" at the Royal Albert Hall in London, Britain, November 9, 2024.

Persons: London CNN — Catherine, Princess of Wales, King Charles III, “, King George VI, Prince William, Prince, King Charles, Chris Jackson, James Manning, Kate, Sophie , Duchess, Prince Edward , Princess Anne, Sir Tim Laurence, Duke, Duchess of Gloucester, Duke of Kent, –, Ben, Keir Starmer, Conservative Party Kemi Badenoch, John Major, Tony Blair, Gordon Brown, David Cameron, Theresa May, Boris Johnson, Liz Truss, Sunak, Kemi Badenoch, Toby Melville, Alec Penstone, Mervyn Kersh, Jaimi Joy, Princess, Wales, William, Royal Albert, Britain's Prince William , Prince of Wales, Britain's King Charles, Britain's Princess Anne, Princess Royal, Chris J, Camilla, Buckingham, I’m, King, Charles Organizations: London CNN, Royal Air Force, Foreign, Commonwealth, Development Office, Conservative Party, British, Reuters, Horse Guards, Royal, Windsor, Royal British Legion Festival of, Royal Albert Hall, Commonwealth Armed Forces personnel, NATO, Royal British Legion Festival, REUTERS, CNN’s Royal, Food Locations: London, Whitehall, Downing, Wales, Edinburgh, Royal British, Southport, England, Normandy, Kosovo, Afghanistan, Britain, Ratcliffe, Wiltshire, South Africa

☆ Russia and Ukraine exchange record numbers of drone strikes
▼ + stars: | 2024-11-10 | by ( Sophie Tanno | Maria Kostenko | ) edition.cnn.com time to read: +3 min

CNN —Russia and Ukraine have exchanged record numbers of drone strikes, with Moscow launching a total of 145 drones on Saturday night – the most ever in a single night-time attack of the war. “Last night, Russia launched a record 145 Shaheds and other strike drones against Ukraine,” Ukrainian President Volodymyr Zelensky said on Sunday. Shahed drones are cheap, one-way attack drones. The UAVs were shot down over the Moscow regions of Ramenskoye, Kolomna and Domodedovo, Andrey Vorobyov, governor of Moscow region, said. The previous largest drone attack on Moscow was in September, when Russia said it destroyed at least 20 Ukrainian attack drones.

Persons: “, Volodymyr Zelensky, Russia “, ”, Andrey Vorobyov, Tatyana Makeyeva, ” Vorobyov, Zhukovsky Organizations: CNN, Ukrainian Air Force Command, Air Force, Russian Ministry of Defense, Russian MOD, Getty, TASS, Ukrainian Locations: Russia, Ukraine, Moscow, Russian, Moldova, Belarus, ” Ukraine, Ramenskoye, Stanovoye, AFP, Domodedovo

☆ Ukraine says it launched drone attack on Russian chemical plant
▼ + stars: | 2024-11-09 | by ( Sophie Tanno | Victoria Butenko | ) edition.cnn.com time to read: +2 min

CNN —Ukraine launched a drone attack on a Russian chemical plant in the western city of Tula overnight on Friday into Saturday, according to the country’s security service. According to the SBU, Aleksinsky chemical plant was hit by at least 13 Ukrainian drones, resulting in explosions and clouds of smoke following the attack. Social media footage verified by CNN shows the attack on Aleksinsky chemical plant, which lies around 120 miles (200 km) south of Moscow, launched by Ukraine’s SBU Security Service and Special Operations Forces. The security service is carrying out a “comprehensive operation” against facilities in Russian territory that are involved in the war in Ukraine, a source in the SBU said. The governor of Tula region, Dmitriy Miliayev, said a drone attack overnight from Ukraine was foiled by Russia, but did not mention the chemical plant, in a statement on Saturday.

Persons: SBU, Dmitriy Miliayev, Miliayev, ” Organizations: CNN —, Staff, CNN, Ukraine’s SBU Security, Special Operations Forces, Russian Ministry of Defense, Russian Federation Locations: CNN — Ukraine, Tula, Ukrainian, Moscow, Russia, Ukraine, Russian, Kyiv

☆ The directors of A24's new horror film used their movie to slam Hollywood's 'weird' use of AI
▼ + stars: | 2024-11-09 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +4 min

"Heretic," the newest horror movie from indie studio A24, doesn't use any generative AI. AdvertisementA24's new horror movie "Heretic" is a terrifying rumination on faith and belief. But the duo still chose to include a disclaimer in their film's end credits stating that no generative AI was used to make their movie. They're specifically talking about generative AI, in which the technology creates new images, videos, or text content. "'Heretic' is very much a personal movie," Beck said.

Persons: Scott Beck, Bryan Woods, —, Hugh Grant, Beck, Woods, Sophie Thatcher, Chloe East, creatives, Romulus, Casey Affleck, Jason Blum Organizations: Hollywood, Service, Blumhouse, Meta

☆ Top German business leader recalls his days working with Trump: 'His administration was extremely receptive'
▼ + stars: | 2024-11-08 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

It's still uncertain what Donald Trump's second presidency will look like, but his first administration was highly responsive to business issues with a set way of operating, top German business executive Joe Kaeser told CNBC. "If I personally, for my company at the time, had an issue to resolve, his administration was extremely receptive," the chairman of the supervisory board of Siemens Energy said in an interview with CNBC's Annette Weisbach Thursday. Kaeser was Siemens' CEO throughout President-elect Trump's first term. Trump did "a lot of things which helped the economy" during his first four years in office, Kaeser said, noting that he believed the president-elect's tax cuts at the time were a positive. One study done at the time, however, showed that the Trump tax cuts, which were implemented in 2017, only had a limited contribution to the strong U.S. growth the following year.

Persons: It's, Donald Trump's, Joe Kaeser, CNBC's Annette Weisbach, Kaeser, Trump's, Trump Organizations: CNBC, Siemens Energy, Siemens, Trump Locations: New York

☆ Treasury yields fall as investors weigh economic outlook after Fed rate cut
▼ + stars: | 2024-11-08 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Yields and prices have an inverted relationship and one basis point is equivalent to 0.01%. U.S. Treasury yields were lower on Friday as investors considered the outlook for interest rates and the economy after the Federal Reserve's latest rate cut decision. Treasury yields had tumbled on Thursday after the Federal Reserve announced a 25 basis point interest rate cut to a target range of 4.50%-4.75%. The Fed began easing rates at its previous meeting in September with a more aggressive 50 basis point reduction. One Fed meeting remains on the agenda for this year on December 17 to 18, for which traders were last pricing in an around 75% chance of another rate cut, CME Group's FedWatch tool showed.

Persons: Jerome Powell, Powell Organizations: Treasury, U.S, Federal, Federal Reserve, Fed

CNN —Germany’s governing coalition has collapsed after disagreements over the country’s weak economy led Chancellor Olaf Scholz to sack his finance minister. The coalition has been at loggerheads over how to revive Germany’s economy. What problems is Germany’s economy facing? Germany’s economy, Europe’s largest, shrank last year for the first time since the onset of the Covid-19 pandemic. Party leader Alice Weidel has already hailed the coalition’s collapse as a “liberation” for Germany.

Persons: Chancellor Olaf Scholz, Christian Lindner’s, Scholz, Donald Trump, Europe’s, Angela Merkel, Gerhard Schröder, Merkel, Christian Lindner, Christoph Soeder, Friedrich Merz, Lindner, Liesa Johannssen, “ Lindner, ” Lindner, ”, Carsten Brzeski, “, Robert Habeck, Annegret Hilse, Merz, Alice Weidel, ” Weidel Organizations: CNN, Free Democrats Party, Scholz’s Social Democratic Party, SPD, Green Party, CDU, Trump, Social Democratic Party, Greens, ING, Volkswagen, CDU –, Christian Democratic Union, Party Locations: Germany, Germany’s, Nazi, Thuringia, France, Italy, Ukraine, China, ”

☆ 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

☆ Germany appoints new finance minister as pressure for quick snap elections mounts
▼ + stars: | 2024-11-07 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Olaf Scholz, Germany's chancellor, right, speaks with aide Joerg Kukies at the COP27 climate conference at the Sharm El Sheikh International Convention Centre in Sharm El-Sheikh, Egypt, on Monday, Nov. 7, 2022. Jörg Kukies was appointed as Germany's new finance minister on Thursday, as pressure mounts on Chancellor Olaf Scholz to call for a confidence vote and trigger snap elections after the dissolution of his ruling three-way coalition. Kukies replaces Christian Lindner, whom Scholz sacked on late Wednesday, citing the need to protect Germany from economic damage. Germany's Minister for Digital and Transport Volker Wissing — who was also a party member — said in a statement to the press that he would stay on in his role, but leave the FDP. On Thursday, Steinmeier announced that, in addition to his previous role, Wissing will also take over as justice minister.

Persons: Olaf Scholz, Germany's, Joerg Kukies, Jörg Kukies, Kukies, Christian Lindner, Scholz, Lindner, Lindner's, Frank, Walter Steinmeier, Transport Volker Wissing —, —, Steinmeier, Wissing Organizations: Sharm El Sheikh International Convention, Green, Germany's, Digital, Transport Locations: Sharm, Sharm El, Sheikh, Egypt, Germany

☆ German Chancellor Olaf Scholz fires Finance Minister Christian Lindner, leaving ruling coalition in disarray
▼ + stars: | 2024-11-06 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Chancellor Olaf Scholz announced Wednesday he had dismissed Finance Minister Christian Lindner, possibly bringing an end to Germany's ruling coalition after months of political wrangling. The three-year-old union between Scholz's Social Democratic Party (SPD), the Greens and Lindner's Free Democratic Party (FDP) has been on shaky ground for some time, with differing budget and economic policy positions causing tensions and clashes. It wasn't immediately clear if Lindner's departure would lead to the FDP exiting the coalition. Scholz said he would call for a vote of no confidence on Jan. 15 in parliament, raising the possibility of elections earlier than scheduled in March. But that is precisely not Christian Lindner's focus right now, he is focused on his own clientele."

Persons: Olaf Scholz, Christian Lindner, Scholz, Lindner Organizations: Scholz's Social Democratic Party, SPD, Greens, Lindner's Free Democratic Party, Green

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