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Deutsche Bank Reveals Bold Cost-Savings Plan Amid Job Cuts

The German bank s poor performance in the last quarter of 2023 indicated economic challenges for the financial outfit. Despite problems such as a trading downshift and high inflation, the bank s chief aims to boost its share price and drive banking consolidation in Europe. ....

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Germany's economy: Europe's biggest economy shrank last year as Germany struggles with multiple crises

Germany s economy shrank 0.3% in 2023 due to expensive energy, lack of skilled labor, and a budget crisis. The country has been facing stagnation since late 2022 and the IMF predicted Germany to be the worst-performing developed economy. Energy-intensive industries faced higher natural gas prices, inflation deterred consumer spending, and a global manufacturing slowdown affected the factory sector. ....

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German economy shrinks slightly in Q3

Germany's economy shrank slightly in the third quarter, data showed on Monday, as Europe's largest economy continues to be weighed down by weak purchasing power and higher interest rates. Gross domestic product fell by 0.1% quarter on quarter in adjusted terms, the federal statistics office said. "These data alone underline that the German economy has at least become one of the growth laggards of the euro zone," said Carsten Brzeski, global head of macro at ING. ....

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Germany to dislodge Japan as world's 3rd-largest economy

International Business News: Germany is expected to overtake Japan as the world's third-largest economy in 2023, according to projections from the International Monetary Fund. The ....

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Eurozone Signposts Intensified Economic Decline as Triggering Recession Fears

As HCOB Flash PMI survey data reveals a sharp fall in key indicators, calls for ECB to halt interest rate hikes grow amidst weakening business activity. ....

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