Ukraine attacked Moscow with 91 drones - the largest attack to date. At least one person was killed, three injured and airports were closed. Russia shot down a total of 337 drones, including 126 in Kursk. The attack came ahead of planned peace talks while Russia encircles Ukrainian troops in Kursk.
Trump's new tariffs on Canada, Mexico and China have unsettled the markets and led to a sell-off. The S&P 500 has lost 8.6 % since its February high, down more than 4 trillion dollars in value. The Nasdaq fell by 4 %, the biggest one-day loss since 2022, with technology stocks such as Tesla and Nvidia coming under particular pressure. Investors fear a recession and economic damage from the trade war.
Trump wants to build refineries for critical minerals on Pentagon property to reduce dependence on China. A decree to this effect could be signed as early as Wednesday. The Pentagon bases offer enough space and avoid conflicts with communities. The project is intended to secure the production of key minerals for the defense industry. A “Buy American” bid or the establishment of a state mineral stockpile are not planned.
Former Philippine President Rodrigo Duterte has been arrested at the request of the International Criminal Court (ICC) in Manila. The ICC is investigating thousands of alleged extrajudicial killings as part of Duterte's “war on drugs”. Duterte denies the allegations. Human rights organizations see the arrest as an important step towards justice.
The Syrian interim president Ahmed al-Sharaa has signed an agreement with the Kurdish-led Syrian Democratic Forces (SDF). The SDF will thus be integrated into Syria's state institutions. The agreement covers border crossings, an airport and oil and gas fields in north-eastern Syria. The aim is to create stability after the fall of Bashar al-Assad in December. However, the integration of the SDF into the Ministry of Defense remains controversial.
A parliamentary election is held in Greenland, which could push for independence from Denmark. US President Donald Trump has promised billions in investment if Greenland joins the USA. The ruling Inuit Ataqatigiit and the opposition Naleraq party support independence, but are at odds over the timetable. Greenland is economically heavily dependent on Denmark, particularly in the areas of defense and foreign policy.
The CDU/CSU and SPD are negotiating a 500 billion euro financial package for defense and infrastructure with the Greens. The Greens reject the current draft and are calling for a reform of the debt brake. A compromise could be to split the package into separate defense and infrastructure measures. The Left Party has signaled its willingness to discuss a reform of the debt brake, while the CDU/CSU and SPD are pushing for a quick agreement before the Bundestag session on Thursday.
VW earned only €12.4 billion (-30.6%) in 2024 due to weak business in China and high conversion costs. Turnover rose slightly to €324.7 billion. Despite crisis, 120,000 employees receive € 4,799.50 bonus. Executive Board waives 11% salary, dividend falls by 30%. 35,000 jobs to be cut by 2030.
After a collision in the North Sea, two ships continue to burn. The tanker “Stena Immaculate” was rammed by the freighter “Solong”, causing explosions and a kerosene leak. The search for a missing crew member was called off. Environmental organizations warn of possible toxic substances in the water, as the freighter was carrying sodium cyanide. The British coastguard and German helpers are trying to fight the fire and prevent environmental pollution.
Following a warning strike at airports, the trade union ver.di calls for further work stoppages in the public sector. Strikes are planned for the coming days in areas such as waste collection, daycare centers and clinics. The airport association reports around 3,500 canceled flights and 560,000 affected passengers. The union is demanding a pay rise of 8 percent or at least 350 euros more per month. The next round of negotiations for the public sector will take place on Friday.
The German economy is currently sending out mixed signals. Although the production of German companies increased at the beginning of the year (industry, construction and energy suppliers produced 2% more in January than in the previous month), German exports have surprisingly shrunk at the same time (2.5% less than in the previous month). (TAG)
The US markets slumped yesterday - the S&P500 lost 2.7 %, having already lost 3.1 % in the previous week. The technology-heavy Nasdaq even lost 4 %, its worst day in 2.5 years. The main reason for the nervousness on the US markets is concern about the economic impact of the rigorous tariff policy announced by US President Trump. (FT)
Siemens Energy had a black day on the stock market yesterday - the share price fell by almost 10 %. Background: The Greens are refusing to approve the debt package for armaments and infrastructure plans from the CDU/CSU and SPD. Siemens Energy would probably benefit greatly from debt-financed, state investments - if they come. (INV)
- DAX: Loses significantly - in view of uncertainty about special assets of CDU/CSU and SPD (MM)
- Building interest rates: Rising faster than at any time since the financial crisis (NTV)
- HelloFresh: Fears decline in sales, share crashes (HB)
- Volkswagen: Sells more curry sausages than cars - board members cut their salaries by +10% (TAG)
- Adidas: Deals sponsorship deal with Liverpool (LFC)
- Does not rule out US recession - as a result of interest rate policy (TAG)
- US labor market: Unemployment rate rises to 4.1% (CNBC)
- China: Core inflation shows deflationary tendencies for the first time in four years (RT)
- Nasdaq: Plans 24h trading (BBG)
- Larry Page: Google co-founder launches new AI startup (TI)
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