Germany · Country watch
Evonik Job Cuts, EU-Philippines Trade Deal
Evonik plans to cut 3,200 jobs in Germany; EU and Philippines agree on a free trade deal.
In this briefing Evonik Industries · Philip Lane · European Central Bank · Eurozone · Ursula von der Leyen · European Union · Philippines
Regulation
Nothing significant reported today.
Disruption
Nothing significant reported today.
Internal tension
Nothing significant reported today.
Safety & health
Nothing significant reported today.
Companies
Evonik to cut 3,200 jobs in Germany
Evonik Industries AG, a leading German specialty chemicals company, announced plans to cut 3,200 jobs, primarily in Germany, as part of a restructuring strategy. The company aims to focus on growth in Asia and America, reallocating tasks across six German sites, Handelsblatt and DIE WELT report. This move is part of ongoing efforts to adapt to structural challenges in the industry.
Impact Employers in the manufacturing sector face workforce reductions, affecting 3,200 positions.
Sources: Handelsblatt ↗, DIE WELT ↗
Markets
Energy price spikes may prolong Eurozone inflation
European Central Bank Chief Economist Philip Lane warns that recent spikes in oil and gas prices could prolong inflation in the Eurozone, Handelsblatt reports. The ECB is considering another interest rate hike in October to manage inflationary pressures. Energy prices remain a significant concern for financial markets.
Impact Lenders and borrowers in the Eurozone face potential interest rate hikes amid prolonged inflation.
Watch The ECB may raise interest rates in October. · 1 October 2026
Sources: Handelsblatt ↗
Trade
EU and Philippines agree on free trade deal
The European Union and the Philippines have reached a preliminary agreement on a free trade deal aimed at enhancing trade and investment, Handelsblatt and ARD Tagesschau report. The agreement will open new export markets and stabilize supply chains, particularly benefiting machinery, pharmaceuticals, and pork exports. Finalization is expected in the coming months.
Impact Exporters of machinery, pharmaceuticals, and pork in the EU gain access to new markets in the Philippines.
Sources: Handelsblatt ↗, ARD Tagesschau ↗, Handelsblatt ↗, Handelsblatt ↗
Politics
Nothing significant reported today.
Also today in Germany
- Studie: Wo die Gefahr für Immobilienblasen am größten ist — Handelsblatt
- Nach der Landtagswahl: Endgültiges Wahlergebnis der Landtagswahl steht fest — ZEIT
- Bundeskanzler Friedrich Merz: Mehrheit spricht sich laut Umfrage für Merz-Rücktritt aus — ZEIT
- Dax aktuell: Dax startet niedriger – Ölpreise schwanken um die 100 Dollar — Handelsblatt
- Bundesregierung: Reformen durchziehen oder aufweichen? Union streitet um ihren Kurs — Handelsblatt
- Wall Street: US-Börsen starten im Plus – Neue KI-Zuversicht als Kurstreiber — Handelsblatt
- Börse am 22. September: Sieben Punkte, die für Anleger heute wichtig sind — Handelsblatt
- Geldanlage: Kann eine 150 Jahre alte Grafik die Börsenkurse vorhersagen? — Handelsblatt
Sources in this briefing
Sources: each headline links to the original article on the publisher's site.
The same day elsewhere
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- Brazil: Senacon Targets Fuel Prices, Rio Winds Alert
- Canada: Canada's Bill C-39 and B.C. Election Called
- Egypt: Cybersecurity Boost, Emtelaak's New Licence
- Spain: Spain's Trade Deficit Widens, Ceuta Tensions Rise
- France: Fuel Aid Announced; Agriculture Relief Talks
- Israel: Direct Finance Expands, Iran's Hormuz Offer
- India: Fortis Legal Audit, FD Rule Changes, Textile Rally
- Iran: Iranian Airlines Halt, Dollar Surges
- Italy: Italy's Deficit Woes, Stellantis Production Halt
- Jordan: Amman Deploys Anti-Smoking Tech, Water Theft in Zarqa
- Kenya: Dangote Refinery Begins, New Pension Deadlines
- Lebanon: Fuel Prices Surge, Economic Concerns Deepen
- Morocco: Bank Al-Maghrib Holds Rates, Medicine Prices Cut
- Malaysia: Melaka Assembly Dissolved, UPM Partners with Himalaya
- Nigeria: NEPZA Cracks Down, NSCDC Raids Illegal Factory
- Netherlands: Dutch Settlement Ban, EU Sanctions, Fire Station Break-ins
- Poland: Poland Health Reforms, Fuel Prices Surge
- Portugal: Housing Market Risks, Licensing Code Changes
- Russia: Brent Oil Rises, Used Car Imports Surge
- Senegal: Severe Weather Alert and Senelec Vandalism
- Syria: US-Syria Relations, Financial Sector Transformation
- Turkey: BIST 50 Rule Change, Istanbul Power Outages
- United States: FAA Outage Disrupts Flights, San Diego Airport Chaos
- Vietnam: Interbank Rates Surge, Vietnam-US Trade Deal Nears