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Germany is considering a 10% tax on major online platforms such as Google and Facebook, as stated by the new culture minister. This proposal could escalate trade tensions with the Trump administration, especially as Chancellor Friedrich Merz plans a visit to Washington to meet President Trump, who opposes foreign governments taxing American companies.
Israel faces increasing international condemnation for its military operations in Gaza, with recent actions resulting in significant civilian casualties, including entire families. Despite the EU, UK, and Canada finally taking steps to address the situation, the effectiveness of these measures remains uncertain, raising questions about the delayed response to the ongoing humanitarian crisis. The urgency for a more decisive international approach is critical as the conflict continues to escalate, with calls for accountability and a reassessment of diplomatic strategies.
Germany is considering a 10% digital service tax on major tech companies like Google and Facebook, led by Chancellor Friedrich Merz. This proposal aims to address the significant revenue these firms generate in Germany while contributing minimally in taxes, aligning with a global trend of taxing digital giants. However, it may provoke international backlash, particularly from the U.S., which has threatened tariffs against countries imposing such taxes.
Credit Suisse shareholders are seeking compensation from the Swiss Confederation following the bank's takeover by UBS, claiming losses after purchasing shares based on misleading reassurances about the bank's stability. The Federal Department of Finance is appealing a court ruling that deemed the reduction of bonuses for former executives unlawful, arguing that exceptional circumstances justify their stance. Meanwhile, Japan faces rising inflation, with consumer prices hitting 3.5% in April, driven by soaring rice prices, prompting speculation about potential monetary policy changes by the Bank of Japan.
The Swiss Federal Department of Finance is appealing to the Federal Supreme Court against a ruling that deemed the reduction or elimination of bonuses for former Credit Suisse executives unlawful. This follows the Confederation's financial support to Credit Suisse during its liquidity crisis in March 2023. Meanwhile, Germany's economy showed unexpected growth in Q1 2025, attributed to anticipatory effects of US tariffs, although experts warn of a potential GDP contraction later in the year due to ongoing industrial challenges.
The euro has declined for four consecutive weeks, trading around $1.12, influenced by improved confidence in U.S. economic policy amid easing trade tensions and better economic data. While short-term pressures may push EUR/USD to $1.08, the long-term outlook remains positive due to capital outflows from the U.S. and rising public deficits in Europe, particularly from Germany's new fiscal measures. The technical trend has turned slightly bullish, but fluctuations are expected as the market reacts to economic developments on both sides of the Atlantic.
German Chancellor Friedrich Merz has reassured that there is no immediate risk of Italy's UniCredit pursuing a takeover of Commerzbank. He noted that UniCredit's stake in Commerzbank is currently below the threshold required for a formal bid, leaving the situation stable for now.
German Chancellor Friedrich Merz has stated that there is no risk of Italy’s UniCredit taking over Commerzbank. He noted that UniCredit's stake in Commerzbank has fallen below the threshold that would require a takeover offer, and it remains uncertain if this threshold will be surpassed.
Germany has rejected UniCredit's potential full bid for Commerzbank, as stated by Chancellor Friedrich Merz after a meeting with Italian Prime Minister Giorgia Meloni. UniCredit, which currently holds a 28% stake, plans to postpone any takeover decision until 2026-2027, with Merz emphasizing that the current shareholding does not necessitate a buyout offer. The German finance ministry also denied rumors of a meeting to discuss UniCredit's merger ambitions.
Karsten Wildberger, appointed as Germany's Minister for Digitalization and State Modernization, is drawing comparisons to Elon Musk due to his business background and focus on efficiency. His ministry consolidates powers from five others, aiming to streamline IT infrastructure and digital services. However, unlike Musk, Wildberger's approach is more collaborative, emphasizing respect and teamwork while navigating Germany's federal system and regulatory landscape.
Friedrich Merz
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