As energy prices continue to burden businesses and consumers, the German Ministry of Economic Affairs has predicted that the country's GDP will shrink, while inflation will remain at a near-record high, a phenomenon known as 'stagflation' in 2023

The conservative CDU/CSU bloc of German election winner Friedrich Merz and the Social Democrats reached an agreement in principle with the Greens on plans for a massive increase in state loans ahead of next week's parliamentary vote

Carmaker Porsche plans to cut a further 1.900 jobs company-wide over the next four years, after a programme already initiated proved insufficient; the news came just weeks after sports brand Adidas announced it would cut 500 in its headquarters in Bavaria

A major reform of the Advisory Commission for Cultural Property Looted by the Nazis has been announced; it is specifically designed to deal with claims for compensation for works of art looted during the Nazi era