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German growth forecasts slashed, Merz under pressure
German growth forecasts slashed, Merz under pressure
by  AFP

Leading German institutes on Thursday downgraded their 2026 growth forecasts, in another bad sign for Chancellor Friedrich Merz whose efforts to reboot Europe's biggest economy face mounting criticism. But critics say his efforts so far have not been radical enough as challenges mount for the economy, from a deepening industrial slump to US tariffs.

Thyssenkrupp pauses steel production at two sites citing Asian pressure
Thyssenkrupp pauses steel production at two sites citing Asian pressure
by  AFP

Europe's largest steelmaker Thyssenkrupp is to pause steel production at two sites for about two weeks because of Asian competition, the German firm said Thursday, as the European Union considers tightening its steel tariffs. Hammered by exorbitant energy costs and cheaper Asian competition, Germany's steel industry has been mired in deep crisis for several years.

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