Business
Germany Latest: Economy Suffers First Recession Since Covid Pandemic
Germany suffered its first recession since the start of pandemic, extinguishing hopes that Europe’s top economy could escape such a fate after the war in Ukraine sent energy prices soaring. Oliver Crook reports on Bloomberg Television.
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Bank of America’s stock and fixed-income traders missed estimates in the third quarter, with bond-trading revenue falling 17% to $2.55 billion and equity trading down 10% to $2.51 billion. The bank’s results were also hurt by a charge tied to a regulatory penalty over money laundering and sanctions violations. Kristine Aquino reports on Bloomberg Television.
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Treasuries led a global bond rally as a selloff in artificial-intelligence shares deepened, spurring demand for havens from a growth slowdown. A measure of CoreWeave’s credit risk climbed to an all-time high Thursday as its high-yield bonds extended declines. We get reaction from Bloomberg Tech host Ed Ludlow. Steve Kaplan of JPMorgan Asset Management joins to discuss trends in portfolio diversification. Bloomberg’s Austin Carr examines Marc Andreessen’s rise as a MAGA power player ahead of midterms. Plus – US producer prices rose in September at the fastest pace in more than four years as higher energy costs reverberated through the US economy. We examine what it could mean for monetary policy with Frank Monkam, Bloomberg News Macro Strategist. All on the latest episode of Bloomberg Businessweek Daily.
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A rout in Asian chipmakers led the MSCI Asia Pacific Index to its lowest since August as investors grow uneasy about whether massive AI spending will pay off. Matthew Bloxham of Bloomberg Intelligence has more.
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@MariaKasova59
December 20, 2023 at 4:19 pm
EU play stupid game , win stupid prize 🏆 , Russia oil get cut by America , that benefit to be America lackey
@Dragon-Slay3r
December 20, 2023 at 4:19 pm
They should have spread the germs then, has it got down because they got caught? 😂 is this why you wanted the red light from the router
@topman5750
December 20, 2023 at 4:19 pm
So funny how you tell,,open your eyes,see recession is decreased, in september germany will be out of recession, news people always be like earning food by telling lies in present not showing positive things whuch is going to happen,ahame on you media
@jkim3275
December 20, 2023 at 4:19 pm
hope German finance minister to assess the economy and make right decision like an adult rather than zombie like soulless drug addicted old smelly grandpa.
And stop talking about delusional hypocritical energy policy and nationalwide greenwashing.
@missl8923
December 20, 2023 at 4:19 pm
Hallelujah! 🙏
@5erforlife318
December 20, 2023 at 4:19 pm
That’s what happens When your dependent ass fucks with a real super power.
@kevt3318
December 20, 2023 at 4:19 pm
Viva le brexit.
@SilkyH
December 20, 2023 at 4:19 pm
Thank to the German government!!! The inflation relief bonus (Inflationsausgleichsprämie) allows employers to pay their employees a bonus of up to EUR 3,000 tax-free and free from social security costs before 31 December 2024. In addition to the possibility to make a one-off payment to all employees!!!
@rettro6578
December 20, 2023 at 4:19 pm
SLAVA recession!
@iamsorryforbeingrudebefore1626
December 20, 2023 at 4:19 pm
Sanctioning Russia has been proven effective and make significant result to German economy. 😂😂😂🎉
@luckylotus
December 20, 2023 at 4:19 pm
One dog looks towards the dark and starts barking loudly, seeing it, the remaining 8-10 dogs also start barking towards the dark.
The relations between America and Europe countries are also like this.
@gregorywilson2124
December 20, 2023 at 4:19 pm
Change in mood? What a soft way of putting it. The prices are sky high!!! They don't have the money to spend!!!
@real-investing-trades
December 20, 2023 at 4:19 pm
Germany is a slave of america so german should do as america say them to do. Dont use your brain. We dont care if germany go to hell but order of america should be obey by germans. Make it a point.
@alexanderjdivic4784
December 20, 2023 at 4:19 pm
Germans, I’m from the US, so take this seriously- our government is compromised, you are blindly following people who intentionally wanted to destroy you all along. And still, you’ll, follow us. I can’t understand it, wth is the matter with you?
@GeorgeIllustrations
December 20, 2023 at 4:19 pm
I think you should put more money and send it to Ukraine!a😂😂😂😂
@gerdaleta
December 20, 2023 at 4:19 pm
And the shame is up and the rest of the world will follow you can f*** with numbers all you want you can't hide from the truth when the truth is you're out of money and its economic system is at its end so too is this entire world and everything that we've done milk government and nothing the way it is now can survive ai and ww3
@Israeliavicohen
December 20, 2023 at 4:19 pm
BUT WE NEED UKRAINE AHHHHH
@dirkstrauss8818
December 20, 2023 at 4:19 pm
Late 20's of the last century there also was a recession. Ans then came 1933… You understand?
@LOVEU.0
December 20, 2023 at 4:19 pm
Das ist schlimm, das ist schlimm, das ist schlecht. Was soll ich tun, was soll ich tun, was soll ich tun, was sollen die Deutschen tun, die unserer Wirtschaft das verdammt noch mal antun?😞🇩🇪🤣😔💀
@LOVEU.0
December 20, 2023 at 4:19 pm
NEIN NEIN NEIN NEIN NEIN NEIN NEIN NEIN NEIN NEIN my lovely country just blowup it's own economy i can't slept what should german people do I'm crying ahhhggggggffgfgfffgibishciihfhihcihwichishcihichsuh ishxis😞💀🤣😔
@operationzenith6030
December 20, 2023 at 4:19 pm
Maybe let YOUR OWNER Joe Biden
blow up another pipeline 🤣🤣🤣
@souravjaiswal-jr4bj
December 20, 2023 at 4:19 pm
But but Russia bad…
@josdav07
December 20, 2023 at 4:19 pm
Those sanctions were supposed to hurt the other side, maybe the 20th round will do the trick.
@vibhutivaibhav2423
December 20, 2023 at 4:19 pm
consumer spending less what about oil prices due to war in russia
@graemekeeley4497
December 20, 2023 at 4:19 pm
Putin has the last laugh as Germany the third largest contributor to NATO and leading European economy enters recession,
German is learning the price of thinking you can just shut off Russia Oil and Gas,
Germany’s industrial sector depends on gas as both an energy source as a feedstock for the production of fertilizers and other chemicals. The threat of potential industry and economic damage to the Nation was not headed as Germany rushed to completely turn off the taps.
The fears it could spark a recession came true and those who said an end to Russian oil and gas imports would hurt Germany more than Russia was indeed the case
Nato and the West were euphoric that sanctions would have severe and lasting economic costs and would help impede Russian war machine.
“The illegitimate restrictions imposed on the Russian economy in the medium term have had a negative impact on it.
Russia’s economy recovered its poise, the IMF expects it to grow by 0.7% this 2023 year—on a par with France, and even as the British and German economies shrink. The hope that the state of Russia’s economy will provide any sort of constraint on the war has faded.
It's the German economy that paying the price, no more war toys for Volodymyr Zelenskyy from Germany
@wurf5336
December 20, 2023 at 4:19 pm
wow sanctions on Russia worked so well :O
@BDRioga
December 20, 2023 at 4:19 pm
A recession created by incompetent politicians making bad decisions.
@rosshilton
December 20, 2023 at 4:19 pm
Since before Christmas I have been pointing out on the internet the obvious:
The UK is doing Ok, Germany is in the shit.
There are good economic reasons for me saying this: Germany is a manufacturing nation with no raw material. It relies upon Russian gas and minerals to make things, which it mainly sells to China.
With the war in Ukraine all of that has disapeared. China relied upon the West to buy Chinese goods, allowing it to buy German goods. That entire loop has collapsed.
And as Germany is the economic power house of the EU – when Germany struggles so does the EU.
I had argued this long and hard, and had been ridiculed by many posters.
It didn’t help that the UK press is always doom and gloom, the glass is half full, whereas the EU press never talks about problems.
Well finally I am vindicated. Germany is officially in a recession, (which both Press and Posters assured me would not happen), and the UK isn’t (which they assured me it was).
Nice to now post all over Youtube “I told you so”
@Meowie765
December 20, 2023 at 4:19 pm
This is what shooting yourself in the foot(Sanctioning Russia) looks like.