Latest news with #MadeInGermany
Bloomberg
a day ago
- Business
- Bloomberg
Bloomberg Talks: Christian Sewing & Roland Busch
The CEOs of Deutsche Bank and Siemens join Bloomberg's Oliver Crook in Berlin to discuss their "Made in Germany" initiative, which looks to help mobilize the private sector towards the goal of reviving the country's economic growth and competitiveness. The powerhouse pair discuss plans for over €600B of pledges to invest in the country over the coming period including in modernization, AI and the digital transformation.
Yahoo
2 days ago
- Business
- Yahoo
Germany's top firms present Merz with investment push to revive economy
Germany's Chancellor Friedrich Merz is meeting with executives from 61 companies on Monday who have collectively pledged €631 billion of investments by 2028 to restore confidence in the country's economy. The firms — including heavy hitters such as Deutsche Bank and Siemens — will present Merz and Finance Minister Lars Klingbeil with their "Made in Germany" initiatives. The €631 billion includes capital investments, expenditure on research and development as well as commitments from international investments, according to the companies. Germany's economy, once considered a powerhouse within Europe, has been in recession for two years in a row and is projected to face a tough 2025 with growth projections among the weakest in the developed world. Siemens CEO Roland Busch clarified to Handelsblatt newspaper that the money announced by the companies was "fresh capital, but also capital that has already been committed". He added: "We need the courage for structural changes in politics, and it is imperative that big steps follow." Firms at the meeting on Monday are expected to lobby the government for faster approvals for infrastructure projects and measures to combat Germany's labour market shortage. Related Chancellor hopeful Merz open to reform of Germany's debt brake Germany's economic sentiment hits highest level since early 2022 The German government outlined that the meeting will focus on how to improve the investment climate and attractiveness of Germany as a business location. Merz has made revitalising Germany's economy one of his top priorities since entering office, emphasising during his summer press conference last week that his coalition was "taking the issue of cutting red tape really seriously". The meeting's announcement comes ahead of an expected spending surge by the German government, enabled by a recent reform to lift debt brake rules and the creation of a special fund for infrastructure investment. According to the president of the country's Ifo Institute for Economic Research, Clemens Fuest, the initiative to promote innovation and new businesses is a good sign, as was the creation of the infrastructure fund. Despite this, the German government has "adopted a series of measures that neither limit spending nor strengthen growth potential,' Fuest said. These include an "early-start pension plan" burdened by bureaucracy as well as the permanent reduction in value-added tax in the hospitality sector. 'Overall, the review of the German government's economic policy reveals pros and cons,' he said.
Bloomberg
2 days ago
- Business
- Bloomberg
Siemens And Deutsche Bank Ceo's Make Their Joint Case For Germany
The CEO's of Deutsche Bank and Siemens join Oliver Crook in Berlin to discuss their 'Made in Germany' initiative which, looks to help mobilize the private sector towards the goal of reviving the country's economic growth and competitiveness. The powerhouse pair discuss plans for over €600B of pledges from various companies to invest in the country over the coming period including the roles of modernisation, AI & the digital transformation. The two leaders also discuss the impact of trade wars on Germany, with Siemens' Roland Busch saying there's a need to end uncertainty around tariffs, while DB's Christian Sewing dismisses any concerns that the country will cease being an exporting nation in the near future. (Source: Bloomberg)
Reuters
2 days ago
- Business
- Reuters
Over 60 German firms launch joint 'Made for Germany' initiative to boost investor confidence
BERLIN, July 21 (Reuters) - More than 60 German companies, including Siemens ( opens new tab, and Deutsche Bank ( opens new tab, announced the "Made in Germany" joint initiative on Monday with 631 billion euros ($733.92 billion) in pledged investments in Europe's largest economy by 2028. Reuters had reported on the initiative to boost investor confidence in Germany on July 8, citing sources familiar with the matter. Initiators are set to present the initiative to German Chancellor Friedrich Merz and Finance Minister Lars Klingbeil later on Monday. ($1 = 0.8598 euros)
