Category: German energy crisis

Germany Shutting Down Its Last 3 Nuclear Plants

April 11, 2023
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Germany will be shutting down its remaining three nuclear power plants this weekend, with the government hoping that renewable energy will be able to compensate for the loss of nuclear power. The plants are scheduled to be shut down on Saturday, April 15. Two of the plants, Neckarwestheim 2 and Isar 2, are located in…

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Switzerland Considering Bans on Electric Car Use, Power Cuts Amid European Energy Crunch

December 2, 2022
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Switzerland is mulling banning the use of electric cars in the nation for non-essential purposes among other measures in a bid to save energy as the European region grapples with an ongoing energy crisis. During a recent press conference, Federal Councilor Guy Parmelin announced the decision to curtail energy use among Swiss citizens, according to…

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German Firms Now More Pessimistic Than At Peak of COVID-19

November 2, 2022
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Businesses in Germany are becoming less confident about their economic future, according to a survey conducted by the Association of German Chambers of Industry and Commerce (DIHK). Among the over 24,000 companies that took part in the survey, 52 percent are expecting their business to deteriorate over the next 12 months, with only 8 percent…

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FedEx CEO Anticipates ‘Worldwide Recession’; Germany Seizes Russian Oil Refinery | NTD Business

September 16, 2022
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FedEx stock suffers its worst day ever after cutting its sales forecast, and the CEO warns of a slowing global economy. Germany takes control of a Russian energy firm’s subsidiaries amid the energy crisis. We ask an analyst why this is a big deal. A U.S. Space Force general says China wants the ability to destroy…

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Winter Gas Shortages in Europe Likely to Last 3–5 Years, Says Commodities Expert

September 8, 2022
Business & Marketseconomyenergyenergy costsenergy crisisEuropeeuropean sanctions on russiagas shortageGerman energy crisisinflationRussian Oil TradeWorld
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Europe, which is currently reeling under an energy crisis, could see winter gas shortages last another three years at a minimum according to Ed Morse, global head of commodities research at Citigroup Inc. “It’ll be somewhere between 2025 and 2027 that we’ll see the prices in Europe coming back to where they were at the…

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Labor Economist: Job Market Remains Tight; Twitter Laying Off 1/3 of Its Talent Team | NTD Business

July 8, 2022
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Twitter is laying off a third of its recruiting team after saying it was just going to pause hiring. Why is it cutting jobs now? The United States adds more jobs than expected in June despite recession fears. Which sectors did well? And what’s the outlook for the economy? German renters are bracing for a cold…

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Chances of US Recession at 85 Percent: JPMorgan; Biden: Decision on Gas Tax Holiday Soon | NTD Business

June 20, 2022
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Recession fears grow; investment bank JPMorgan says there’s an 85 percent chance of a recession for the U.S. economy. President Joe Biden is considering pausing the federal gas tax to help at the pump, saying he’ll make a decision soon. Germany is going back to coal for power generation. It wants to reduce natural gas…

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