Germany’s Merz fails to be elected chancellor in shock first-round parliamentary vote

Germany’s Merz fails to be elected chancellor in shock first-round parliamentary vote


Friedrich Merz, designated Federal Chancellor (CDU), is pictured during the signing of the coalition agreement between the SPD, CDU, and CSU on May 05, 2025 in Berlin, Germany.

Florian Gaertner | Photothek | Getty Images

Friedrich Merz failed to get the majority needed to become German chancellor in a parliamentary vote Tuesday.

Merz needed at least 316 votes to become chancellor and only 310 members of parliament voted in his favor.

The German Dax stock market index extended losses after the result to trade around 1% lower by 9:30 a.m. London time.

The result marks an unanticipated setback for Merz who was widely expected to secure the necessary votes and be officially sworn in later in the day.

After the result of the vote was announced the parliamentary session was halted to allow for factions to discuss among themselves. A second vote is expected at some point.

This is a breaking news story and will be updated shortly.



Source

Barclays second-quarter profit beats estimates as investment banking revenues swell
World

Barclays second-quarter profit beats estimates as investment banking revenues swell

One Churchill Place skyscraper, the Barclays Plc headquarters, at Canary Wharf in London, U.K., on Thursday, Jan. 7, 2021.  Bloomberg | Bloomberg | Getty Images British bank Barclays on Tuesday beat profit expectations and announced a £1 billion ($1.33 billion) share buyback as market volatility boosted investment banking revenues. Pre-tax profit beat estimates at £2.5 […]

Read More
Europe sets its sights on multi-billion-euro gigawatt factories as it plays catch-up on AI
World

Europe sets its sights on multi-billion-euro gigawatt factories as it plays catch-up on AI

Data storage tapes are stored at the National Energy Research Scientific Computing Center (NERSC) facility at the Lawrence Berkeley National Laboratory, which will house the U.S. supercomputer to be powered by Nvidia’s forthcoming Vera Rubin chips, in Berkeley, California, U.S. May 29, 2025. Manuel Orbegozo | Reuters Europe is setting its sights on gigawatt factories […]

Read More
Stock of Singapore Airlines fall over 8% after first quarter profit plunges
World

Stock of Singapore Airlines fall over 8% after first quarter profit plunges

Civil jet airplanes of Singapore Airlines and its subsidiaries — Tigerair, Silkair and Scoot — at Changi International Airport, Singapore. Universal Images Group | Getty Images Shares of Singapore Airlines (SIA) fell after the carrier reported a 59% decline in earnings for the first quarter of its 2025/2026 financial year. Stock of SIA fell more […]

Read More