German Wind Output Sinks, Risking Profit at Renewable Generators
Wind generation in the country has averaged 18,000 megawatt so far in the season that started in October, the lowest since the winter of 2020/2021, Rabobank energy analysts said in a report. That could dent earnings for the renewable energy divisions of big utilities like RWE AG, SSE Plc and Orsted A/S, though higher power prices might help them balance that out, said Bloomberg Intelligence senior analyst Patricio Alvarez.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
9 hours ago
DC unemployment rate is the highest in the US for the third straight month
WASHINGTON -- The seasonably adjusted unemployment rate in Washington, D.C., was the highest in the nation for the third straight month, according to new data released Tuesday by the Bureau of Labor Statistics. D.C.'s jobless rate reached 6% in July, a reflection of the mass layoffs of federal workers, ushered in by President Donald Trump's Department of Government Efficiency, earlier this year. An overall decline in international tourism — which is a main driver of D.C.'s income — is also expected to have an impact on the climbing unemployment rate in the District. Neighboring states also saw an uptick in unemployment rates in July — with Maryland at 3.4% (up from 3.3%) and Virginia at 3.6% (up from 3.5%), according to the state-by-state jobless figures. Since the beginning of Trump's second term, federal workers across government agencies have been either laid off or asked to voluntarily resign from their positions. Those actions have drawn litigation across the federal government by labor unions and advocacy groups. In July, the Supreme Court cleared the way for Trump administration plans to downsize the federal workforce further, despite warnings that critical government services will be lost and hundreds of thousands of federal employees will be out of their jobs. The latest D.C. Office of Revenue Analysis figures show that payments made to unemployed federal workers have been climbing month-over-month. In April, unemployed workers received $2.01 million in unemployment payments. By June, that figure reached $2.57 million. The DC Fiscal Policy Institute argues that the federal worker layoffs will exacerbate D.C.'s Black-white unemployment ratio. The latest nationwide unemployment rate according to the BLS is 4.2% — South Dakota had the lowest jobless rate in July at 1.9%. In addition, international tourism, a major source of D.C., to the U.S. is declining. Angered by Trump's tariffs and rhetoric, and alarmed by reports of tourists being arrested at the border, some citizens of other countries are staying away from the U.S. and choosing to travel elsewhere — notably British, German and South American tourists, according to the World Travel & Tourism Council. A May report from the organization states that international visitor spending to the U.S. is projected to fall to just under $169 billion this year, down from $181 billion in 2024 — which is a 22.5% decline compared to the previous peak. The latest jobs numbers come after the Republican president and a group of GOP governors have deployed National Guard troops to D.C. in the hopes of reducing crime and boosting immigration enforcement.
San Francisco Chronicle
10 hours ago
- San Francisco Chronicle
DC unemployment rate is the highest in the US for the third straight month
WASHINGTON (AP) — The seasonably adjusted unemployment rate in Washington, D.C., was the highest in the nation for the third straight month, according to new data released Tuesday by the Bureau of Labor Statistics. D.C.'s jobless rate reached 6% in July, a reflection of the mass layoffs of federal workers, ushered in by President Donald Trump's Department of Government Efficiency, earlier this year. An overall decline in international tourism — which is a main driver of D.C.'s income — is also expected to have an impact on the climbing unemployment rate in the District. Neighboring states also saw an uptick in unemployment rates in July — with Maryland at 3.4% (up from 3.3%) and Virginia at 3.6% (up from 3.5%), according to the state-by-state jobless figures. Since the beginning of Trump's second term, federal workers across government agencies have been either laid off or asked to voluntarily resign from their positions. Those actions have drawn litigation across the federal government by labor unions and advocacy groups. In July, the Supreme Court cleared the way for Trump administration plans to downsize the federal workforce further, despite warnings that critical government services will be lost and hundreds of thousands of federal employees will be out of their jobs. The latest D.C. Office of Revenue Analysis figures show that payments made to unemployed federal workers have been climbing month-over-month. In April, unemployed workers received $2.01 million in unemployment payments. By June, that figure reached $2.57 million. The DC Fiscal Policy Institute argues that the federal worker layoffs will exacerbate D.C.'s Black-white unemployment ratio. The latest nationwide unemployment rate according to the BLS is 4.2% — South Dakota had the lowest jobless rate in July at 1.9%. In addition, international tourism, a major source of D.C., to the U.S. is declining. Angered by Trump's tariffs and rhetoric, and alarmed by reports of tourists being arrested at the border, some citizens of other countries are staying away from the U.S. and choosing to travel elsewhere — notably British, German and South American tourists, according to the World Travel & Tourism Council. A May report from the organization states that international visitor spending to the U.S. is projected to fall to just under $169 billion this year, down from $181 billion in 2024 — which is a 22.5% decline compared to the previous peak. The latest jobs numbers come after the Republican president and a group of GOP governors have deployed National Guard troops to D.C. in the hopes of reducing crime and boosting immigration enforcement. City officials say crime is already falling in the nation's capital.
Yahoo
12 hours ago
- Yahoo
Stada Owners Are Said to Resume IPO Work as CapVest Talks Stall
(Bloomberg) -- Stada Arzneimittel AG's private equity owners are resuming preparations for a listing of the German drugmaker after talks stalled on a potential sale to CapVest Partners, people with knowledge of the matter said. Bain Capital and Cinven, which jointly own Stada, have started gearing up to hold an initial public offering of the business as soon as October, the people said. London-based buyout firm CapVest was in discussions to acquire Stada but it's been unable to reach an agreement, according to the people, who asked not to be identified because the information is private. Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone A Photographer's Pipe Dream: Capturing New York's Vast Water System Why New York City Has a Fleet of New EVs From a Dead Carmaker A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Princeton Plans New Budget Cuts as Pressure From Trump Builds CapVest was in talks to buy Stada together with a group of other institutional investors in a transaction valuing the business at around €10 billion ($11.7 billion) including debt, Bloomberg News has reported. The potential acquisition would have been a large deal for CapVest, which manages about €12 billion in assets. Talks cooled in part due to disagreements over valuation as well as the structure of CapVest's bid, according to some of the people. Bain and Cinven are now returning to plans for an IPO, which has always been their preferred exit route, the people said. While negotiations on a potential deal with CapVest have hit an impasse, the situation is fluid and there's still a chance they could overcome their differences and reach an agreement, the people said. Representatives for Bain, CapVest, Cinven and Stada declined to comment. Bain and Cinven started weighing options for Stada in 2023. The company manufactures and sells a range of products such as consumer health-care items, generic drugs and specialty medication for rare and chronic diseases. Stada told investors in June that it's on track to achieve its earnings guidance of €930 million to €990 million of adjusted Ebitda for the year. It's targeting €4.25 billion to €4.4 billion of adjusted revenues. The company's brands include Grippostad, which helps treat colds and flu infections, and Hirudoid cream for bruises and hematoma. Bain and Cinven agreed to buy Stada for €5.3 billion in 2017, a deal that gave them control of one of Europe's last independent generic-drug companies. --With assistance from Pamela Barbaglia. Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Women's Earnings Never Really Recover After They Have Children Americans Are Getting Priced Out of Homeownership at Record Rates Yosemite Employee Fired After Flying Trans Pride Flag ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
