Business sentiment in Germany's chemical industry is at its lowest point in around two years, a leading think tank said on Thursday. The Munich-based ifo Institute said sentiment in the industry plunged by 9.7 points in July to minus 19.2 points. Business expectations slumped particularly sharply, falling from 8.6 to minus 9.2 points. "The chemical industry's temporary hopes for an economic recovery have vanished," ifo expert Anna Wolf said. The institute said the weak economy is weighing on demand for chemical products, reflected in the order backlog, which is at its lowest level since 2009 d...
Thomas Müller is still hungry for titles as he starts "an adventure" with new club Vancouver Whitecaps after 25 years at Bayern Munich, the only team he has ever played professional football until now. "Anyone who knows me knows that I'm keen on winning titles. (...) Sport is still the most important thing for me even if I consciously took a step out of Europe," he said in an interview with news portal One Soccer. "It's important to me that when I play it's about sporting success, that's what I've always strived for." After months of speculation, Müller announced the transfer to the MLS side o...
The recent tariff agreement between the European Union and the United States has left German car manufacturers in the dark, an industry association said on Thursday. "The deal between the EU and the US has not yet brought any clarity or improvement for the German automotive industry," said Hildegard Müller, president of the German Association of the Automotive Industry (VDA). The deal struck at the end of July foresees a baseline 15% tariff on most imports of EU products to the US. However, a customs duty of 27.5% will continue to apply to passenger cars and car parts. This places a considerab...
Adidas, the world's second-largest sportswear manufacturer, will no longer participate in collective bargaining agreements at its home base in Germany, a spokeswoman confirmed to dpa on Thursday. "We can confirm that we have switched to a membership in the employers' association without collective bargaining obligations," the spokeswoman. Adidas justified the move by pointing to a lack of flexibility in the collective bargaining framework. "Our employees are the best in the industry. To ensure this remains the case, we need to be able to offer salaries outside a collective structure and provid...