German economy shrunk by 0.2% in the final quarter of 2024
Germany's economy signed during the 0.2% quarter in the last three months of 2024, the country's Federal Statistics Bureau said Tuesday it confirmed a reserve reading at the end of January.
Fourth quarter performance continued with quarterly growth in stretches from July to September.
Authorities cited a major drop in exports and a continuing recession of ongoing results during the headwinds facing Germany's economy late last year.
– Chloe Taylor
Unilever CEO Schumacher resigns
A bathtub of Ben & Jerry ice cream in the store's freezer.
Bloomberg | Bloomberg | Getty Images
Unilever CEO Hein Schumacher has resigned after working for less than two years, the company said Tuesday.
Schumacher, who took the reins in July 2023 and was tasked with leading the overhaul of the consumer goods giant, stopped in March as CEO and board director and will leave the company on May 31st. The consumer goods company said.
Fernandez's new role comes into effect on March 1st.
Unilever said there will be no changes to the outlook for 2025 or the company's medium-term guidance after the announcement.
“On behalf of the Board, I would like to thank Hein for resetting Unilever's strategy. For the focus and discipline he brought to the company, and for the solid financial advancement in 2024.”
“The board is pleased with Unilever's performance in 2024, but there is more to deliver best-in-class results. We have worked closely with Fernando for the past 14 months, and the board has been working closely with us. is extremely confident in its ability to lead high performance. Management team recognizes the benefits of gaps [Growth Action Plan] With urgency, it provides the shareholder value that the company's potential demands require,” Meakins added.
Unilever's current assistant CFO and group controller, Srinivas Phatak, will take over as interim CFO. Currently, internal and external searches have begun to be launched to fulfill roles forever, the company added.
– Karen Gilchrist
Markets mitigated by German election results remain uncertain in key industries
Frankfurt's DAX index rose 0.6% on Monday, overtaking the flat British FTSE 100 and 0.78% losses on France's CAC 40, but the euro is higher against the US dollar, the UK pound and German borrowing costs I did.
The German elections have won the conservative alliance of the Christian Democratic Union (CDU) and the Christian Social Union (CSU). This has set up the CDU-CSU candidate Friedrich Merz. Friedrich Merz is a central right professional business politician who works on the boards of Ey Germany and Deutsche Börse to take over as the next prime minister.
However, some uncertainty remains, and the period of coalition consultations proceeds ahead and small-scale policies are enacted to enact promised policies, including reforms to Germany's controversial “debt brake” rules. There is a future where political parties need support.
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– Jenni Reed
European Market: Opening Calls are as follows
The European market is scheduled to open in the mixed territory on Tuesday.
UK FTSE 100 The index is expected to remain unchanged at 8,637 in Germany Dachshund France's 22,381 down 29 points CAC 8,084, 2 points lower in Italy ftse mib According to IG data, 38,542 is 27 points higher.
Proceeds come from Fresenius Medical Care, Smith & ne, Heidelberg material, and Arcón. At the forefront of data, the final quarter of German GDP data will be released.
– Holly Eliatt
