https://feeds.thelocal.com/ Read the latest news and views from Germany in English en-us news@thelocal.com (TheLocal) webmaster@thelocal.com (TheLocal) TheLocal RSS Feed Germany's financial watchdog on Wednesday ordered online bank N26 to step up "internal controls and safeguards" to prevent money laundering and terrorist financing, and said it was appointing a special representative to monitor progress. https://www.thelocal.de/20210512/german-watchdog-steps-up-monitoring-of-popular-n26-online-bank Wed, 12 May 2021 20:05:55 +0200 german-watchdog-steps-up-monitoring-of-popular-n26-online-bank The German government will seek to suspend a constitutional rule against the state taking on new debt for the third year in a row in 2022, AFP learned from ministry sources Monday, as Berlin looks to soften the economic blow of the pandemic. https://www.thelocal.de/20210322/debt-averse-germany-to-take-on-new-borrowings-to-soften-pandemic-blow Mon, 22 Mar 2021 18:06:12 +0100 debt-averse-germany-to-take-on-new-borrowings-to-soften-pandemic-blow Germany's second-largest lender Commerzbank said Thursday it will cut 10,000 jobs and close 340 branches by 2024 as it grapples with a switch to online banking and cashless payment options. https://www.thelocal.de/20210128/commerzbank-to-cut-10000-jobs-and-close-340-branches Thu, 28 Jan 2021 18:28:10 +0100 commerzbank-to-cut-10000-jobs-and-close-340-branches Germany took on record new debt in 2020 to shield the economy from the coronavirus pandemic, but less than expected, official data showed Tuesday. https://www.thelocal.de/20210119/we-have-finances-well-under-control-germany-takes-on-less-debt-than-expected-in-2020 Tue, 19 Jan 2021 16:43:54 +0100 we-have-finances-well-under-control-germany-takes-on-less-debt-than-expected-in-2020 Germany's main stock index reached a record high on Monday, buoyed by a pandemic recovery package agreed in the US and Britain's Brexit deal with the EU. https://www.thelocal.de/20201228/why-german-stocks-just-hit-a-record-high Mon, 28 Dec 2020 13:48:47 +0100 why-german-stocks-just-hit-a-record-high Germany on Friday passed a 2021 budget that once again smashes its "debt brake" rule, promising to shield businesses and workers from the economic hit of the pandemic as cases continue to rise. https://www.thelocal.de/20201211/well-be-struggling-well-into-next-year-german-debt-set-to-soar-in-2021-amid-pandemic Fri, 11 Dec 2020 17:21:06 +0100 well-be-struggling-well-into-next-year-german-debt-set-to-soar-in-2021-amid-pandemic New figures released by the Federal Statistics Office (destatis) show that the hourly wage gap has been coming down for several years. But experts say that the picture isn’t completely rosy. https://www.thelocal.de/20200915/minimum-wage-helping-to-reduce-difference-between-high-and-low-earners Tue, 15 Sep 2020 12:06:04 +0200 minimum-wage-helping-to-reduce-difference-between-high-and-low-earners Germany, long adverse to being in the red, on Tuesday posted a public deficit of €51.6 billion for the first half of 2020, with coronavirus lockdowns undercutting government revenue as it increased spending. https://www.thelocal.de/20200825/germany-sees-record-gdp-decline-amid-coronavirus-spending Tue, 25 Aug 2020 12:16:08 +0200 germany-sees-record-gdp-decline-amid-coronavirus-spending German Finance Minister Olaf Scholz came under fire Friday after documents showed he knew about suspicions of misconduct at disgraced payments company Wirecard as early as 2019. https://www.thelocal.de/20200717/german-finance-minister-scholz-under-fire-over-wirecard-warnings Fri, 17 Jul 2020 19:09:03 +0200 german-finance-minister-scholz-under-fire-over-wirecard-warnings German payments provider Wirecard filed for insolvency Thursday, just days after admitting €1.9 billion missing from its accounts likely "do not exist" and its ex-CEO was arrested. https://www.thelocal.de/20200625/five-things-to-know-about-the-wirecard-scandal Thu, 25 Jun 2020 17:45:40 +0200 five-things-to-know-about-the-wirecard-scandal The former chief executive of Wirecard, Markus Braun, has been arrested on suspicion of market manipulation, German prosecutors said Tuesday, after the payments provider admitted that €1.9 billion missing from its accounts likely "do not exist". https://www.thelocal.de/20200623/former-ceo-of-scandal-hit-wirecard-arrested-in-germany Tue, 23 Jun 2020 13:24:29 +0200 former-ceo-of-scandal-hit-wirecard-arrested-in-germany The founder and chief executive of scandal-hit Wirecard resigned on Friday after the German payments provider was hit with fresh fraud allegations that have left it struggling for survival. https://www.thelocal.de/20200620/wirecard-founder-makes-bombshell-resignation-over-fraud-probe Sat, 20 Jun 2020 10:49:45 +0200 wirecard-founder-makes-bombshell-resignation-over-fraud-probe Germany's Finance Minister Olaf Scholz is planning an aid package worth €57 billion to help local authorities weather the devastating economic storm unleashed by the coronavirus pandemic, German media reported Saturday. https://www.thelocal.de/20200518/germany-to-shore-up-local-authorities-with-57-bn-euro-aid-report Mon, 18 May 2020 11:54:01 +0200 germany-to-shore-up-local-authorities-with-57-bn-euro-aid-report The Bundestag has already agreed on emergency action, now the Federal Council wants to get started: The enormous aid programs in the Corona crisis should come into effect quickly, but nobody knows yet whether they will be enough. https://www.thelocal.de/20200330/financial-help-in-the-corona-crisis-who-gets-what Mon, 30 Mar 2020 14:11:13 +0200 financial-help-in-the-corona-crisis-who-gets-what German finance minister Olaf Scholz said Saturday that Berlin could help lift a 40-billion-euro debt burden off struggling local authorities, potentially enabling new outlays on schools and infrastructure. https://www.thelocal.de/20191221/germany-announces-massive-funding-plan-for-local-authorities Sat, 21 Dec 2019 10:11:21 +0100 germany-announces-massive-funding-plan-for-local-authorities An international analysis has concluded that Germany’s pensions system is among the best in the world – but there is lots of room for improvement. https://www.thelocal.de/20191023/how-does-germanys-pension-system-measure-up-worldwide Wed, 23 Oct 2019 17:54:35 +0200 how-does-germanys-pension-system-measure-up-worldwide Germany's second-largest lender Commerzbank said Friday it plans to cut the equivalent of 4,300 full-time posts, one-tenth of its workforce, and shutter 200 branches in a fresh bout of restructuring. https://www.thelocal.de/20190920/commerzbank-says-to-slash-4300-jobs-in-new-restructuring-round Fri, 20 Sep 2019 17:13:48 +0200 commerzbank-says-to-slash-4300-jobs-in-new-restructuring-round Germany faced renewed pressure on Friday to boost public spending and help revive a sputtering European economy, a day after the European Central Bank warned it had reached the limit of its powers to avert recession. https://www.thelocal.de/20190913/should-germany-give-into-pressure-and-boost-spending-to-revive-europe Fri, 13 Sep 2019 17:05:58 +0200 should-germany-give-into-pressure-and-boost-spending-to-revive-europe German Finance Minister Olaf Scholz presented a 2020 budget that sticks to the country's longstanding no-new-debts "black zero" policy, defying speculation on financial markets that Berlin might borrow to fund investments. https://www.thelocal.de/20190910/germany-clings-to-no-debt-policy-in-2020-budget Tue, 10 Sep 2019 16:21:15 +0200 germany-clings-to-no-debt-policy-in-2020-budget The deadline to submit tax returns may have moved to July 31st. But you should still be prepared. Here's how to make tax day into your own personal pay day. https://www.thelocal.de/20190506/taxes-in-germany-how-to-get-more-money-back-on-your-return Mon, 06 May 2019 10:35:40 +0200 taxes-in-germany-how-to-get-more-money-back-on-your-return