Flöther had already participated in the first insolvency proceedings, at the end of which the entrepreneur Heinrich von Nathusius took over Mifa and built a new factory. Von Nathusius now handed over the management.
The Halle district court had granted the corresponding application, announced the restructuring manager of Mifa-Bike GmbH, Joachim Voigt-Salus, in Sangerhausen (Saxony-Anhalt). Together with his management colleague Matthias Herold, he wants to reposition the company. “Our goal is to secure the existence of Mifa and as many jobs as possible here at the Sangerhausen site in the long term,” said Voigt-Salus. The lawyer specializes in restructuring companies. The insolvency expert Lucas Flöther has been appointed as provisional trustee, it said. Flöther had already participated in the first insolvency proceedings, at the end of which the entrepreneur Heinrich von Nathusius took over Mifa and built a new plant. Von Nathusius now handed over the management. With more than 500 employees, the company produces around 400,000 bicycles per year and is the largest remaining employer in the southern Harz region. The Mitteldeutsche Fahrradwerke (Mifa), founded in 1907, had to file for bankruptcy in September 2014 because the planned entry of the Indian bicycle manufacturer Hero had failed .
A few months later, the entrepreneur Heinrich von Nathusius took over the company. Shortly before Christmas of this year, however, it became known that the company was again in financial difficulties. The reasons were, on the one hand, the “” enormous investments “” for the new plant in Sangerhausen and the high relocation costs, explained Voigt-Salus. In the past few months, sales have also lagged behind plan; In addition, hardly any bicycles are bought in autumn and winter.
Mifa now has to procure parts for the start of production for the spring business. There is not enough money for this, and around 520 employees receive insolvency benefits for three months. According to Voigt-Salus, the trainees can continue their training. Source: ntv.de, wne / dpa / AFP “In Italy prices have fallen for the first time in 57 years.
The national statistical office announced that the average inflation rate in 2016 was minus 0.1 percent. The main reason for this was the cheap energy in the wake of the low oil price, but improvement is in sight, with inflation picking up again noticeably by the end of the year. In December, inflation soared to 0.5 percent, the highest level in a good two and a half years. In the rest of the euro area, too, prices rose significantly. Low inflation is often seen as evidence of a sluggish economy. Read more about deflation in Italy here. Source: ntv.de “The central bank of Japan in Tokyo. (Photo: dpa) Economic weakness and years of deflation are troubling Japan.https://123helpme.me/biology-essay-writing-service/
The Japanese monetary authorities are trying to counteract this by buying securities and are turning on the money tap even further. The Bank of Japan (BoJ) decided to further ease monetary policy at its council meeting. This was what economists expected given the low inflation and ailing economy. The easing is intended to support the stimulus package planned by Prime Minister Shinzo Abe, with the central bank increasing the annual purchase volume for exchange-traded index funds (ETF) to 6 from the previous 3.3 trillion yen. This should boost both growth and inflation. The BoJ is also doubling the dollar-borrowing program to $ 24 billion from $ 12 billion. Another reason for the easing is the UK’s planned exit from the European Union.
With its measures, the central bank wants to prevent the consequences of Brexit from having an impact on the economy and consumer confidence, as the declaration said. There were long faces on the Tokyo Stock Exchange after the decision. Economist Tsuyoshi Ueno from the NLI Research Institute spoke of a disappointing announcement. This can also be seen in the reactions on the markets.
The Nikkei was 1.3 percent lower at 16,267 points. The yen was clearly up. The dollar was two percent lower against the Japanese currency to 103.15 yen, while the deposit rate, which is the base rate, remained unchanged at minus 0.1 percent, the government bond purchase program at 80 trillion yen per year and that for the real estate funds known as J-Reits with 90 billion yen annually. According to the BoJ, the Council decided to confirm interest rates and expand ETF purchases with a 7-2 vote. At the same time, the central bank adjusted its forecasts for inflation and economic growth. The gross domestic product should be in the current fiscal year (until 31.
March) will only grow by 1.0 instead of 1.2 percent, for the coming year it is assuming a more significant increase of 1.3 instead of 0.1 percent, for 2018/19 then 0.9 instead of 1.0 percent. The BoJ sees annual taxation in the current fiscal year at only 0.1 instead of 0.5 percent, but continues to expect an increase to 1.7 and 1.9 percent respectively for the two following years. Source: ntv.de, hul / DJ / rts / dpa “ECB President Mario Draghi. (Photo: REUTERS) The interest rates for ten-year Bunds have fallen near the record low. Local yields should soon follow the Japanese into negative territory. This is more than just an economic warning signal.
ECB boss Mario Draghi is making savers blush: he has increased the monthly bond purchase program from April 60 billion to 80 billion euros, thereby pushing interest rates ever lower. They are now negative for federal papers with a term of up to nine years. The ten-year-olds are likely to follow suit soon. In many other industrialized countries, interest rates are also falling significantly, indicating a massive slowdown in the global economy. “” Actually, this would be a step forward and a perfect environment for finance ministers like Wolfgang Schäuble to finally move away from the black zero and start a large infrastructure program to stimulate the economy, “” says Stefan Riße, chief strategist at broker Ayondo, a way out but so far it has not been so, and so the head of the International Monetary Fund (IMF) Christine Lagarde notes that the IMF must probably lower its expectations for growth. “The recovery is too slow, too fragile and the risks are growing,” said Lagarde. There are more than enough reasons for a possible downward revision: The fall in commodity prices is putting a considerable strain on economies such as the USA, Russia, Saudi Arabia, Australia and Canada. At the same time, economic growth in China is noticeably weakening, putting a strain on export-dependent countries such as Germany. Lagarde was convinced that the world’s very loose monetary policy would support the global economy.
However, there have been no sustainable successes so far. An example of this is, alongside Europe, Japan. The central bank there is buying more and more government bonds and has recently introduced penalty interest rates.
Accordingly, interest rates for ten-year bonds have slipped 0.1 percent to near the record low. Yet Japan has been in recession five times in the past seven years. The next recession is already around the corner after economic output contracted 0.3 percent in the fourth quarter of 2015 compared to the previous quarter, but things would look much worse without a loose monetary policy in Japan or Europe. There is currently no discernible alternative to the ECB’s monetary policy.
Klaus Bauknecht, chief economist at IKB Deutsche Industriebank, sees the reason for this in a lack of will to reform within the EU. “” The problem is that hardly any government has managed to master the transition between short-term crisis policy and long-term reform policy. “” The historically high unemployment rate in the euro zone is proof of this However, there are also side effects associated with it, namely the expansion of debt and low returns for savers. The debtors are being relieved more and more of the falling interest rates, but there are incentives for states, private households and companies to continue to produce substantial debts. At the same time, savers miss hundreds of trillion dollars in interest every year after government bonds with a volume of 6.6 trillion dollars are now “paying off” interest. The lack of interest income in turn slows consumption, which is also threatened from other sources, namely that of many Countries existing deflation.
The weak global economy could ensure that deflation continues to spread. It occurs when consumer prices fall compared to the previous year. When consumers suspect that prices will continue to fall due to a weak economic situation, they tend to be reluctant to consume.
Because they could buy even cheaper in the future. Deflation is an enormous problem for the ECB for another reason: While inflation devalues debts, exactly the opposite happens with deflation. The ECB is fighting deflation all the more resolutely, although record-low bond rates signal further economic risks for the euro zone. Deflation cannot be defeated so easily, inflation or a turnaround in interest rates on the bond market are therefore not yet in sight. Source: ntv.de “News and information at a glance. Collection of articles by n-tv.de on the subject of deflation The standard of living in Germany rose by one percent in September compared to the previous year, which is very low in a European comparison.
Is there a threat of deflation? Against the background of falling share prices worldwide, a discussion has begun about whether and what consequences this could possibly have on economic development. Fears of recession and deflation play a role here. How good is the global economy and what are its prospects?
The Japanese government presented its new program to fight deflation on Wednesday. Observers criticize the concept as it does not go beyond the earlier announcements made by Prime Minister Koizumi. The leading Asian exchange in Tokyo got off to a weaker start in the new week, with a trader saying losses were contained in hopes of solid government action to combat deflation. The cost of living in Germany increased by one percent in September compared to the previous year.
This is very low in a European comparison. Is there a threat of deflation? Against the background of falling share prices worldwide, a discussion has begun about whether and what consequences this could possibly have on economic development. Fears of recession and deflation play a role here. How good is the global economy and what are its prospects?
The Japanese government presented its new program to fight deflation on Wednesday. Observers criticize the concept as it does not go beyond the earlier announcements made by Prime Minister Koizumi. The leading Asian exchange in Tokyo got off to a weaker start in the new week. A trader said the losses had been limited because of the hope for solid government measures to combat deflation. (Photo: picture alliance / dpa) Falling prices, falling wages, sluggish investments: Japan has been suffering from deflation for years.
The government recently almost halved its growth forecast. Now she is taking billions in hand to push the economy. According to a media report, the Japanese government is planning an economic stimulus program with a volume of at least 186 billion dollars. The aim of the package is to overcome deflation and ward off the negative economic consequences of a Brexit, reported the Kyodo news agency. The economic stimulus plan will likely be twice as large as originally planned, the agency reported, citing people familiar with the matter. It should also be extended to the 2017 budget year and beyond, with Prime Minister Shinzo Abe wanting to get the program off the ground in early August.
Abe had announced a stimulus program but left the details open. Last week, the Tokyo government drastically revised its growth forecast for the fiscal year ending March 2017 down to just 0.9 percent. At the beginning of the year she had estimated 1.7 percent. The country’s economy has been suffering from deflation for years with falling prices, falling wages and stagnating investments. Source: ntv.de, bad / rts “Geld (Photo: dpa) For years, the financial markets have been trembling with deflation. In fact, rising prices are more likely .
Because since there has been money, there has been inflation. It won’t be any different this time: consumer prices in Germany rose by 1.5 percent in May. In the euro zone, the rate of inflation was similarly high at 1.4 percent. This means that the European Central Bank (ECB) has almost reached its inflation target of just under two percent.
Nonetheless, ECB boss Mario Draghi is still busy buying bonds – for 60 billion euros per month. It’s nothing more than printing money. The ECB’s total assets are bigger than ever. In the past three years it has more than doubled to 4,100 billion euros and is expected to increase further to 4,500 billion euros by the end of the year.
The Japanese and American central banks have also pumped massive amounts of liquidity into the financial system in recent years, but while there is more and more money, prices are barely rising. However, the statement is only correct for consumer prices, i.e. for what people need for their daily needs: living, heating, refueling or eating. In contrast, asset prices have been rising for years.
For example stocks – they are at record levels. The stock market rally has been going on for more than eight years. That is also inflation: Marco Herrmann has been responsible for the investment strategy at FIDUKA depot management since 2010. Together with his colleague Urban Bacher and the economics professor Hanno Beck, he published the book “” Inflation – The First Two Thousand Years “”. The same goes for real estate prices.
Last year they rose by an average of almost seven percent in Germany. In Munich, buyers of a new apartment meanwhile pay an average of 7500 euros per square meter. In Berlin and Hamburg it is almost 5000 euros.