Germany
Nord Stream 2 cost $11 billion to build. Now, the Russia-Europe gas pipeline is unused and abandoned
A worker adjusts a pipeline valve at the Gazprom PJSC Slavyanskaya compressor station, the starting point of the Nord Stream 2 gas pipeline, in Ust-Luga, Russia, on Thursday, Jan. 28, 2021. Bloomberg | Bloomberg | Getty Images One of the early casualties of Russia’s invasion of Ukraine — and its continuing geopolitical and economic fallout […]
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German economic advisors send recession warning as Putin’s gas deadline nears
Berlin’s Brandenburg Gate on the occasion of the Earth Hour, on March 26, 2022. Tobias Schwarz | Afp | Getty Images Germany’s heavy reliance on Russian energy could tip its economy into recession, an independent economic think tank warned on Wednesday. There are rapidly rising concerns over what Russia’s unprovoked invasion of Ukraine will mean […]
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European markets pull back amid doubts over latest Russian pledges over Ukraine
LONDON — European stocks retreated on Wednesday following the latest round of talks between Russia and Ukraine, aimed at finding a solution to the conflict. The pan-European Stoxx 600 fell 0.5% in early trade, with autos shedding 1.6% to lead losses, while oil and gas stocks gained 2.1%. In terms of individual share price movement, […]
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Putin should think about the consequences of asking for energy payments in rubles, Germany says
Germany has some advice for Russian President Vladimir Putin: think about the consequences of asking for energy payments in rubles. Russia’s Putin said last week that “unfriendly” nations would be asked to pay for their natural gas in rubles — causing a spike in European gas prices. By asking for payments in the Russian currency […]
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Venture capital fund backed by Russian oligarch Abramovich removes all traces of operations online
Chelsea owner Roman Abramovich is seen on the stand during the Barclays Premier League match between Chelsea and Sunderland at Stamford Bridge on December 19, 2015 in London, England. Clive Mason | Getty Images A venture capital fund backed by sanctioned Russian billionaire Roman Abramovich appears to be trying to wipe any trace of its […]
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Omicron’s ‘stealth’ subvariant BA.2 could go ‘wild’ in Europe before going global, top epidemiologist says
Doctor Immanuel Hardtmann holds a syringe with the vaccine Moderna in a temporary vaccination center inside the Excursion boat Alexander von Humboldt on the first day of the #HierWirdGeimpft (Get Vaccinated Here) Covid-19 vaccination campaign on September 13, 2021 in Berlin, Germany. Carsten Koall | Getty Images News | Getty Images LONDON — While war […]
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German firms sign deals in UAE as Berlin seeks alternative energy supplies
Electricity transmission pylons beside the gas-fired power plant, operated by Uniper SE, in Irsching, Germany, on Wednesday, July 7, 2021. Michaela Handrek-Rehle | Bloomberg | Getty Images German companies have signed agreements with firms in the United Arab Emirates (UAE) to build up a hydrogen supply chain, Germany’s economy ministry said on Monday, as Berlin […]
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Hydrogen-powered train a step closer to passenger service in Germany
A model of Siemens Mobility’s Mireo Plus photographed in 2019. Nicolas Armer | Picture Alliance | Getty Images Plans to deploy a hydrogen-powered train in the southern German state of Bavaria took a step forward this week after Siemens Mobility and rail operator Bayerische Regiobahn put pen to paper on a leasing contract. The signing […]
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Intel commits $36 billion to making chips in Europe
Patrick Gelsinger, chief executive officer of Intel Corp., speaks during a Bloomberg Studio 1.0 interview at the company’s headquarters in Santa Clara, California, Feb. 3, 2022. David Paul Morris | Bloomberg | Getty Images Intel announced Tuesday that it plans to invest over 33 billion euros ($36 billion) into boosting chipmaking across the European Union […]
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With Putin’s war in Europe, the legacy of Germany’s Merkel is now being seen in a very different light
Former German Chancellor Angela Merkel waves goodbye as she departs from the Chancellery for the last time. Sean Gallup | Getty Images News | Getty Images With Vladimir Putin‘s unprovoked attack against Ukraine, political analysts are now reassessing the long and deeply complicated relationship the Russian leader had with ex-German Chancellor Angela Merkel, and how […]
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