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Many German industrial companies began to move their production to Germany, leaving in the past the mass allocation of industrial capacity in Asia, and mainly in China. Adidas, BSH, Rowenta and others are among such companies, Deutsche Welle reported. The factor of cheap labor has ceased to be important. Now the attention of entrepreneurs shifted to technological development, providing a high level of interaction between production systems. In addition, Chinese factory wages have risen, and labor in China has ceased to be cheap. The second reason for the return of production to homeland is its placement near the client. Therefore, German professor, Steffen Kinkel, believes that the transfer of production to Germany and the European Union as a whole will gain momentum.
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
The Dollar traded lower earlier on Thursday in European markets after new hope of an economic recovery in Europe bolstered sentiment. The Dollar index fell by 0.1% to 954.808 at 3:10 AM ET (0710 GMT), gaining only slightly from the four-month ...
On Tuesday, Ebay Inc. (EBAY.O) announced that it had reached a deal to sell off its classified ads business unit to Adevinta ASA (AD5B), a Norway-based classified ads publisher owned by Danish media company Schibsted (SBSTA.OL). The classified ...
Oil prices fell on Thursday after OPEC+ agreed to lessen output cuts from August, though the decline was dampened by a recovery in demand as U.S. crude stocks had an unprecedented drop. Brent crude slid 0.3%, or 13 cents, at $43.66 per barrel. ...
Tesla Inc will be manufacturing mobile molecule printers in an attempt to aid Germany’s biotech firm CureVac in developing a potential COVID-19 vaccine, according to a tweet by the electric-car maker’s CEO Elon Musk on Wednesday. CureVac ...
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