Coronavirus latest: Germany’s population shrinks for first time in a decade

Martin Arnold in Frankfurt

Germany’s population shrank for the first time in a decade after the coronavirus pandemic triggered a sharp drop in immigration this year, intensifying a recent demographic slowdown.

The number of people living in Germany fell by 40,000 in the first six months of this year to 83.1m, which the federal statistics agency said on Tuesday was the first decline in the population of Europe’s largest economy since the second half of 2010.

The main cause of the drop in German inhabitants was a sharp drop in arrivals from other countries since the pandemic started in March.

In the first six months of the year, there was a 29 per cent decline in the number of immigrants arriving in Germany to 529,000, while those emigrating fell 22 per cent to 455,000.

That means Germany had net immigration of 74,000 people in the first half of this year

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Germany’s auto show struggles to attract foreign automakers

MUNICH — One year before the IAA, Germany’s top auto show that is moving from Frankfurt to Munich, organizers are still struggling to confirm the attendance of a single non-German automaker or supplier.

Even among German automakers, BMW is still the only company to commit to appearing at the show in its home city.

Volkswagen, Audi, Porsche, Mercedes-Benz and Opel yet to confirm attendance, according to inquiries by Automobilwoche, a sister publication of Automotive News Europe.

With automakers increasingly opting to save money and launch their latest products with online streaming debuts or at private events, the pressure is on the show, known by its acronym IAA (Internationale Automobil-Ausstellung), to attract top global car companies.

The VDA, the German industry group that organizes the IAA, decided that Frankfurt would no longer host the show because of falling attendance figures after the city was the home of the biannual exhibition

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Germany’s pandemic recovery raises age-old questions about European economy | Business| Economy and finance news from a German perspective | DW

In 1947, two years after the end of World War II, the European economy was in severe trouble. “We are threatened with total economic and financial catastrophe,” said then French Economy Minister Andre Philip in April that year.

There were many problems but the biggest was Germany. Two years after the Nazis had been defeated, Germany’s recovery had in many ways already been remarkable but economically it remained a basket case and Europe realized it needed its engine back. In part, the Marshall Plan’s purpose was to restore the German economy to the heart of Europe.

By the start of the 1950s, the European economy was in miracle territory but Germany’s miracle burned brightest. The next two decades were among the most prosperous in history.

Here in 2020, the European economy also finds itself at a pivotal and potentially perilous historical moment. The pandemic is ongoing and the economic recovery

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Here’s Everything I Fixed To Prep My 250,000-Mile Diesel Manual Chrysler Minivan For Germany’s Rigorous Inspection

Illustration for article titled Heres Everything I Fixed To Prep My 250,000-Mile Diesel Manual Chrysler Minivan For Germanys Rigorous Inspection

Photo: David Tracy

I’ve been wrenching for over a month on my Graz, Austria-built 1994 Chrysler Voyager (diesel, manual!), preparing it for Germany’s notoriously tough “TÜV” safety and emissions inspection. Here’s every single thing I fixed to give myself the best chance of passing one of the toughest mandatory vehicle inspections on earth.

It’s been over two weeks since I’ve given an update on Project Krassler, a diesel manual Chrysler Voyager designed in the U.S., built in Austria, and sold in Italy before making its way to Germany. I bought it sight unseen for $600. My vision when I initially asked my Nürnberg-based friend Andreas to purchase the van on my behalf — far from my Michigan home — was to fix the machine, somehow get it past Germany’s vehicle inspection, turn it into a mobile apartment, and then live in the van as I road-trip through

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HDBank Issues Convertible Bonds to Strategic Partner Germany’s DEG

HO CHI MINH CITY, VIETNAM – Media OutReach – 25 September 2020 – The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank – HoSE: HDB) today announced the signing of an agreement to issue convertible bonds and enter into a strategic tie-up with DEG – DEUTSCHE INVESTITIONS- UND ENTWICKLUNGSGESELLSCHAFT MBH (“DEG”).

DEG will invest in convertible bonds issued by HDBank.

The two parties will have a strategic partnership for developing products, services and finance packages for German businesses in Vietnam and Vietnamese exporters to Germany and Europe, contributing to boost the trade cooperation between Vietnam and Germany as well as with other European countries.

DEG is a development finance institution owned by German state-owned development bank KWF and is one of Europe’s15 leading development finance institutions.

It is currently present in 19 countries, managing a portfolio of around EUR8.6 billion in private groups around the world. In Vietnam,

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Germany’s IG Metall trade union establishes fund to eliminate “overcapacity” in auto parts industry

 

Germany’s IG Metall trade union establishes fund to eliminate “overcapacity” in auto parts industry

By
Dietmar Gaisenkersting

25 September 2020

The IG Metall trade union established its own private equity fund earlier this summer to finance the restructuring of Germany’s auto industry. The fund, named “Best Owner Group” (BOG), is headed by the former head of the Federal Work Agency, Frank-Jürgen Weise, and Bernd Bohr, who previously headed the vehicle division at Bosch.

For the start-up capital, IG Metall invested “a few hundred thousand euros of union funds” with the IG Mining, Chemical and Energy (IGBCE) union. Weise and Bohr are now seeking further investments from wealth managers, private investors and hedge funds, as well as from “foundations, producers, business families and the government,” according to a report from IG Metall.

Bosch workers demonstrate against job cuts on March 13, 2019 in Stuttgart

The trade union has set an initial

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Today’s Logistics Report: Planning Vaccine Delivery; Germany’s Export Cloud; Assembling Ford Trucks

Plans for distributing a Covid-19 vaccine remain a work in progress as the shots move closer to approval. State officials and medical-supply experts say critical issues weren’t resolved in the federal government’s release of two vaccine-distribution plans this week. The WSJ’s Peter Loftus and Jared S. Hopkins report the slow ramp-up for a distribution strategy could hamper efforts to get doses quickly to health-care workers and others at high risk of infection. Some states might not initially get all of the supplies they were expecting, or have the freezer capacity needed to safely store their drug allocation.

Transportation and logistics companies have been preparing for the potential sudden rush to distribute doses through temperature-controlled networks with little margin for error. The federal program through Operation Warp Speed sketches out distribution of any vaccine that regulators authorize for use, including starting shipments within 24 hours of the green light. But medical

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Volkswagen’s new electric car panned by Germany’s leading test publication

FRANKFURT (Reuters) – Germany’s Auto Motor und Sport said Volkswagen’s <VOWG_p.DE> new electric car, the ID.3, had fallen short of the carmaker’s usual standards of fit and finish, and had a limited operating range, when it reviewed the car ahead of its launch.

“The inner side of the hood looks like it was painted with a spray can,” the publication said, lamenting the absence of Volkswagen’s trademark build quality in a pre-production model they were testing in this week’s edition.

The criticism comes as Volkswagen chief executive Herbert Diess relinquished day-to-day management responsibility for the VW brand, following criticism by the company’s labor leaders over his management style.

Uneven panel gaps, an infotainment system which takes a long time to fire up, and a navigation system which fails to work were other features which the publication help up for criticism.

The powertrain and ride were good, but the operating range

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Germany’s Nurburgring Nordschleife – A Guide For Bikers

NURBURGRING – A BRIEF HISTORY

The original 27-mile long Nurburgring racetrack was completed in 1927 and immediately became famous (some might say infamous) around the world. Over time various changes were made to the circuit but it always remained challenging and very long. However, as the decades past, safety became more and more of an issue for riders and drivers. The lack of run-off areas and bumpy, uneven corners were just two concerns that were raised. Jackie Stewart is famed for calling the circuit “The Green Hell”, a reference to its scenic location and dangerous and demanding nature. Growing concerns finally reached their peak after Niki Lauda’s horrific crash in 1976 when he was severely burned during a Formula 1 race. This resulted in the end of Formula 1 races at the old circuit, but the German motorcycle Grand Prix continued to be held there until 1980, when that too … Read More

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