German factory orders fall more than expected in December
(AP Photo/Michael Probst)BERLIN โ German factory orders fell more sharply than expected in December, suggesting recent coronavirus lockdown measures are starting to impact industry in Europe's largest economy, new statistics showed Friday. Industrial orders fell 1.9% in December over the previous month, following a slightly upwardly revised 2.7% increase in November, the Federal Statistical Office reported. Domestic orders decreased by 0.9% while foreign orders dropped by 2.6% in December. New orders from the eurozone fell 7.5%, while those from other countries increased by 0.5%. German industry had remained almost unharmed by the November lockdown," he said in a research note.
Germany's Commerzbank to cut 10,000 jobs, slash branches
FILE - In this April 1, 2020 file photo, the buildings of the banking district are reflected in the river Main in Frankfurt, Germany. (AP Photo/Michael Probst, File)FRANKFURT โ Germany's Commerzbank said Thursday that management proposed to cut 10,000 jobs under a restructuring program aiming to increase digitalization, slash branches and cut annual costs. The company said in a statement to investors that the cuts would affect every third job at the bank in Germany. Costs would be lowered by 1.4 billion euros ($1.7 billion), or around 20% by 2024. It said revenues were expected to remain stable as the bank puts profitability ahead of growth.
German government cuts 2021 economic growth forecast to 3%
The lights of a bridge are reflected in the river Main in Frankfurt, Germany, Thursday, Jan. 21, 2021. (AP Photo/Michael Probst)BERLIN โ The German government on Wednesday cut its growth forecast for this year to 3% as Europe's biggest economy faces persistent headwinds from the coronavirus pandemic. In late October, the government had forecast growth of 4.4% this year. Official data released earlier this month showed that the economy shrank by 5% last year, ending a decade of growth. He didn't provide any specific forecast for 2022.
Police investigating bomb threat in Downtown Harbor Springs
HARBOR SPRINGS, Mich. โ Harbor Springs police received a bomb threat in the area of Main and State streets in Downtown Harbor Springs. The Harbor Springs Police Department, Michigan State Police and the Emmet County Sheriffโs Department are actively investigating the threat. Harbor Springs schools were locked down until 4:15 p.m., which is when students were released. The public is asked to avoid the Downtown Harbor Springs area. Anyone with information should contact Harbor Springs police at 231-526-6211.
German economy shrank 5% in pandemic year 2020
FRANKFURT โ The German economy, Europe's largest, shrank by 5% in the pandemic year 2020, ending a decade of growth as lockdowns wiped out much business and consumer activity. The U.S. had a downturn of 4.6% while China's economy grew 2.1%, according to the estimates used by Destatis. In the fourth quarter, German growth โroughly stagnated,โ said Michael Kuhn, head of the GDP and output calculation group at the agency. The pandemic downturn, which followed 10 straight years of annual growth, was smaller than that experienced during 2009, when the economy shrank by 5.7% The 2020 figure compares to modest growth of 0.6% in 2019. In 2020, the economy seesawed between lockdowns and a robust upswing that still left growth below the previous year.
AP-NORC poll: America's virus concerns stable as cases spike
The surge has led to record numbers of daily virus deaths as the U.S. nears 300,000 people dying from the virus over the course of the pandemic. Roughly three-quarters of Americans say they're at least somewhat worried about the virus, a figure that's about the same as in October. Fifty percent now support requiring Americans to stay home except for essential errands, up somewhat from 44% in October. About 9 in 10 are at least somewhat worried about infections, compared with about 6 in 10 Republicans. โIn complete honesty, I think this pandemic is kind of blown out of proportion,โ said Main, who is a Republican.
Give your mom Diamonds for Mothers Day!
Diamonds Steak and Seafood in Royal Oak is one of them, still serving up their sizzling steaks and scrumptious seafood for carryout. The Royal Oak location is actually the second Diamonds location, with the first one being in Howell. The Royal Oak location is lighter, and more modern, with diamonds sketched on the walls and their alcohol selection on full display. For Mothers Day, they are offering many specials for Mothers day including an oven-ready feast, brunch, and other kits you can prepare at home. All orders for Mothers Day must be placed by 8 pm today, May 8th.