Germany could be forced to suspend a constitutional law that limits borrowing, after court ruling upended Chancellor Olaf Scholz’s spending plans and threw his government into chaos.
Category: Scholz, Olaf (1958- )
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German Court Says Government Cannot Shift Covid Funds to Climate Projects
The decision could rip a hole in Berlin’s budget and complicate the transition to a greener economy.
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Germany Says China Trade Could Create Perilous Dependence
A long-awaited strategy statement is an attempt to set a coherent approach for dealing with China, Germany’s largest trading partner, in policy and business.
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German Government Slashes Spending, Except on the Military
The proposed package foresees spending about 6 percent less in 2024 from this year, in a return to financial austerity. But the severity of the cuts to social services drew sharp criticism.
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Markets Climb as Silicon Valley Bank Finally Finds a Buyer
The New York Times – Business:First Citizens agreed on Sunday to acquire the failed lender’s retail operations, a move that will cost taxpayers but is reassuring investors.
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Germany’s Leader Seeks Accord With China on Covid Vaccines
The New York Times – Business:Chancellor Olaf Scholz said during a visit to Beijing that China and the European Union were working toward approval of each other’s pandemic vaccines.
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BlackRock Expands Client Voting in Shareholder Elections
The New York Times – Business:The money manager said it will let more clients vote individually in companies’ elections, as it faces criticism of its own shareholder power.