Word: germanically
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Shaking off years of lethargy, the German economy is showing the first signs of a turnaround. Can the national zeitgeist keep...
...first indications of a national turnaround are starting to show up in the numbers. The German Institute for Economic Research in Berlin in July revised its GDP growth estimate from 1.4% to 1.8% for this year and from 1.8% to 2.1% for next year. The Germans got a boost as economies in the U.S. and Asia began to grow again, and also from the run-up to E.U. enlargement, as exports to new members in Eastern Europe surged. "Germany remains an export machine that keeps running and running," says Holger Schmieding, an economist at Bank of America. "Despite the strong...
...executives by consultant Ernst & Young recently ranked Germany the third most attractive country in which to invest, behind China and the U.S. Deutsche Bank and Dresdner Bank reported healthy profits in the first three months of 2004, after heavy losses for the same period last year, a sign that German banks can succeed by cutting excess retail staff and pruning bad debt. Media companies like Axel Springer, publisher of Bild and Die Welt, are bouncing back from a crippling advertising drought. Companies are winning important labor concessions. Siemens just sealed deals with workers in two of its mobile-phone factories...
...foreign investors' billions to flow into Russia. But Putin apparently announced his plan before his ministers had agreed on its details: Industry and Energy Minister Viktor Khristenko cooled expectations, saying that liberalization "doesn't mean the removal of limits." Shortly afterward, Economic Development and Trade Minister German Gref promised that all restrictions would be lifted. Who's right? "I'd rather give credence to Khristenko's stance as more realistic," says Mikhail Zadornov, former Finance...
...INDICATORS Erasing A Bad Memory German chipmaker Infineon Technologies was fined $160 million after pleading guilty in the U.S. to fixing the price of memory chips between...