AGP Executive Report
Last update: 4 hours agoBudget: The Bundestag’s budget committee approved a record €560.9 billion spending plan for 2027, including nearly €123 billion in new borrowing; total borrowing could exceed €200 billion, while a proposed electricity-tax cut remains unresolved. AI and robotics: Munich-based Agile Robots raised $500 million in a SoftBank-led round valuing it at $8.5 billion, with plans to expand production in Germany and enter new markets. Automotive: Mercedes-Benz is halting new investment in German plants and weighing closures, as rising costs pressure its domestic operations. Cybersecurity: A cyberattack on drone maker Quantum Systems led the Bundeswehr to temporarily ground its fleet; the company says its equipment is ready to operate again. Industry: Germany’s chemical sector is losing momentum, with production, orders and sales sliding; IG Metall is planning nationwide warning strikes in a separate wage dispute. Retail: China’s JD.com completed its €1.34 billion takeover of Ceconomy, parent of MediaMarkt and Saturn, gaining a controlling stake in a retailer with more than 1,000 European stores.
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