German economy to grow after two straight years of contraction, IfW says
The economic institute raised its forecast to 0.3% growth from the stagnation it had previously envisaged.
The revision is due to a better-than-expected first quarter, when the economy grew by 0.4%.
"The German economy is seeing some light at the end of the tunnel," the economists said in their new forecasts.
They are also more optimistic about next year, raising the forecast for Europe's largest economy to 1.6% growth from the previous forecast of 1.5% in 2026.
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Daily Mail
4 minutes ago
- Daily Mail
It's Brendan v The Board, Part 2... another summer of transfer discontent has left an unhappy manager and Celtic walking a £40m Champions League tightrope
By the time the 100th minute of a desperate struggle against Kairat had come and gone, it had become impossible to ascertain what Celtic 's plan was. Liam Scales, nominally a centre-half, was playing at left back. Daizen Maeda no longer seemed sure if his role was through the middle or out on the flank. Shin Yamada, a striker who'd replaced a midfielder in Benjamin Nygren, was everywhere the ball had just been. A bench which began with £6million Auston Trusty and £11m Arne Engels seated on it had been accommodating £9m Adam Idah since half-time with James Forrest giving the Irishman company once his 34-year-old legs could give no more. With a bang average visiting team comfortably defending their box on the rare occasion a dismal Celtic side ventured anywhere near it, there was an air of resignation among the home support long before the Norwegian referee mercifully blew for time. If ever a display mirrored a club's off-field preparation for a match then this was it: The most pitiful transfer window in recent memory manifest in a woefully inadequate show. While Brendan Rodgers ' players still ought to have acquitted themselves far better than they did, it was telling that the fingers of blame were angrily pointed in the direction of chief executive Michael Nicholson and chairman Peter Lawwell. Frankly, the level of rancour in the stadium suggested it's going to take more than an unlikely triumph in Kazakhstan on Tuesday to stop the disconnect between the supporters and the boardroom from deepening. Celtic's hierarchy had known that Scotland's champions would require to negotiate a play-off match since April of last year. They made £40m through direct entry last season. With a modest investment across the past two months, they'd have been all but assured of banking that gargantuan sum again. Instead, a squad with glaring inadequacies must pull this one out of the fire next week. Make no mistake - if they fail, it will be nothing short of a humiliation. Rarely has the old wisdom about what happens when you fail to prepare felt more apt. In the media room afterwards, the manager did his best to answer questions which mostly related to the chants of 'Sack the Board' - the response of thousands present to the lack of backing he's enjoyed from his paymasters to this stage. When pointedly asked if the fans should fans accept how their club's being run, the Northern Irishman played a straight bat. 'Well listen, that's not for me to answer.' In other words, ask those above me. If only we could. This speaks to one of the main issues at Celtic. The complete lack of communication between the boardroom and the rank and file. If the directors did hatch a plan beyond crossing their fingers and toes to get through this tie, then no one has made it known. It's not a good look to be stockpiling money when the team is crying out for reinforcements. Has Nicholson hit the bar with a succession of deals for players with pedigree or has he not even come close? In the unlikely event that he ever agrees to be scrutinised on the matter, it would be interesting to hear. From 20 paces, the picture is inscrutable. At last check, Celtic had £65.4m in the bank - with the promise of more money to come from the back end of last season's commendable run in Europe. Another £10m was piled on top when Kyogo Furuhashi left for Rennes in January. A further £16.5m followed when Nicolas Kuhn joined Como. As well as the regular season ticket money, the pot was further swollen by the sales of Gustaf Lagerbielke and Kwon Hyeok-kyo. All told, that's approximately £100m. More than enough to bolster the squad with plenty left in reserve. But instead of refuelling the vehicle and trying to go one better than their near miss against Bayern Munich, Celtic have put a few drips in the tank. Kieran Tierney returned from Arsenal on big wages but for no transfer fee. The £1.8m spent on Nygren from Nordsjaelland is the biggest outlay so far with Yamada costing £1.5m from Kawasaki Frontale. As well as the outgoing transfers of Furuhashi and Kuhn, the side has lost Jota to a long-term injury. That's an awful lot of pace, ingenuity and goals. The need to compensate for that ahead of Kairat was abundantly clear. Rodgers said it time and time again. They had the funds, yet they failed to deliver. You cannot blame those who've parted with their hard-earned cash feeling angry at watching the engine cough and splutter on Tuesday. Celtic as a club have never been more astute at making money. Their inability to reinvest it this year made Tuesday's debacle feel like an accident waiting to happen and again raises questions about how it operates. Appointed head of football operations in October, one of Paul Tisdale's stated roles included the 'identification and development of talent'. What's become of him? Have the targets he's presumably flagged up not matched up with the manager's expectations? Or have the club simply not been able to get deals over the line? Whatever the reason, it's clearly dysfunctional. There was a moment towards the end of Rodgers' pre-match press conference on Monday which got lost at the time but is now worthy of revisiting. Asked why Hayato Inamura, a defender who joined to much fanfare from Albirex Niigata, wasn't in his Champions League squad, the manager's answer was revealing. 'Yeah, very easy,' said the Rodgers. 'He's not quite at the level, as of yet, that I would expect.' Seriously? So why, you might well ask, is he even here? Who's sanctioning a move for a 23-year-old who isn't up to scratch when the team's crying out for players to help them reach the Champions League? It doesn't smack of a club where everyone is on the same page. Rodgers stopped just short of admitting this is the heart of the matter after Tuesday's stalemate. 'I don't necessarily need control,' he stressed. 'If there's alignment, I want what's best for the football team.' While it would be hard to argue that Idah, Trusty, Arne Engels or Paulo Bernardo (an unused sub against Kairat) have delivered value for money so far, a failure to give the manager what he so clearly needs to take the club forward serves no purpose. It's all becoming very reminiscent of seven years ago when Rodgers' barbs at the board preceded a loss to AEK Athens at this juncture and his departure in the February. As things stand, the smart money is on him heading for the hills when his contract expires next summer. The difference, this time around, is that no one will blame him.
The Sun
4 minutes ago
- The Sun
Travel industry applauds Sun investigation into celeb ‘get rich' scheme pushed by Strictly star… while agents protest
INDEPENDENT travel agency, InteleTravel, is answering questions about their business practices after The Sun's investigation shined a light on the true cost of joining their organisation to sell travel. With glamorous celebrities like Strictly's Vicky Pattison and TOWIE's Jess Wright promoting the scheme on their huge social platforms, it was revealed they could be earning over £200,000 as fans sign up to the scheme. 5 5 However, our report showed that almost 90 per cent of people don't make a single penny working as an Independent Travel Agent (ITA) - with many ending up out of pocket. Those selling travel through the Vicky's Vacay team will almost certainly have signed up with recruitment firm, PlaNet Marketing, who are a separate company to InteleTravel. Even though they are different companies, The Sun could find no way of joining InteleTravel without signing up to PlaNet Marketing and paying an initial fee of £140 and then £30 per month thereafter. Industry experts TTG, have reported that since The Sun called for clarity on how many Brits are affected negatively by joining the scheme, InteleTravel is now reviewing its partnership with the US-headquartered company that recruits agents on its behalf. In our report, we looked at how likely it is for everyday women and fans of these glamourous celebrities to earn money selling holidays to their friends and family for a small commission. Social media messaging flaunting a jet-set lifestyle and ability to 'be your own boss' is rife on platforms like Instagram. And it's not just the celebrities who are at it. Many ITAs who say they make 'big money' from selling travel are, in fact, doing so with an elaborate recreruitment downline. This means anyone they sign up to their 'team' must pay them a commission, as well as the commission to InteleTravel - an ABTA-approved travel agency - on anything they go on to sell. InteleTravel came under criticism as recruiters for the network, appear to approach people, most-often women and mums, on social media. Avoid being ripped off by car hire companies with these four top tips Subtle messaging, which some women who spoke to The Sun allege they are trained for, is used to lure new agents in by telling them a glamorous lifestyle can be achieved while on their family holiday. It's heavily implied that a huge salary can be achieved while being a full-time mum or working in another job. A recruiter told our reporter that she earned £27,000 alongside her full time job in a different sector. Tricia Handley-Hughes, InteleTravel's UK and Ireland managing director, insisted the agency's partnership with PlanNet Marketing had 'not run its course' but added: "discussions need to take place". 5 5 Senior industry agents also reacted to the story, calling it 'deeply concerning'. In a article published by trade publication, Travel Weekly, they raised concerns about InteleTravel's recruitment methods and about the impact of the story on the professional reputation of other agents in the sector. Advantage Travel Partnership chief executive Julia Lo Bue-Said said: 'It's important to remember the vast majority of travel agents across the UK are highly professional and trustworthy". 'Being a travel agent is not a hobby. It should never be treated as a casual side hustle to make some extra money". While marketing consultant Steve Dunne, chief executive of Digital Drums, said such stories 'could push back the reputation of the travel agents a generation'. A number of InteleTravel agents have reacted to our report in defence of InteleTravel. They were keen to tell their followers that agents can 'just sell holidays' and do not have to sign up to be part of the business responsible for the recruitment of other agents. James Pirie-Warsop said: 'I've been with Intele for about two or three years and I'm glad I did [join them]. Yes, there's a multi-level marketing side, but you don't have to do it". Whilst no-one is forced to recruit a 'dream team of travel agents' like Vicky and Jess, official data from the Direct Selling Association reveals that 63 per cent of agents in the sector do go on to build a 'team'. InteleTravel's own figures may differ from the UK wide average, but when asked directlt by The Sun, they declined to comment on the amount their agents earn. 5
The Sun
31 minutes ago
- The Sun
Major change to how shoppers buy National Lottery tickets in UK supermarkets as rollout of new machines begins
SHOPPERS will soon notice a big change when buying their National Lottery tickets in supermarkets as thousands of new machines are rolled out across the UK. Allwyn, the operator of the National Lottery, has started introducing more than 30,000 state-of-the-art Lottery Wave terminals in stores nationwide. 3 3 The high- tech terminals are part of a £350million investment to modernise the Lottery and improve both the player and retailer experience. The machines come with faster processors for speedier transactions, larger adjustable screens, and advanced barcode scanners. They also include a new play slip reader that can be fed both horizontally and vertically, making ticket purchases easier for shoppers. Retailers will benefit too, with the terminals offering enhanced reporting features and the option to update numbers on Fast Pay cards. In the first half of this year, around 8,000 stores had already received the new kit. By the end of August, another 4,000 shops will see their old Altura terminals replaced. From September, Allwyn says it plans to install thousands of the machines every week. Retailers have welcomed the upgrade. Nisa store owner Stephen Harrison said: 'Having the new terminal in store has been amazing. I'm a lottery strategist - avoid a common myth about scratchcards to win the biggest jackpots "It is so much more responsive and easier to use, which has been especially important to us as we recently had some PR around a millionaire made in store, so our store has been much busier selling those lucky tickets.' Allwyn director of operations Jenny Blogg said: 'This is another massive undertaking from Allwyn as we deliver generational change to the National Lottery. 'We have invested more than £350m in a comprehensive plan to transform the National Lottery, substantially improving its operations and technology. 'These will support exciting plans we have for new games, a better player experience, and a commitment to double returns to Good Causes from £30m to £60m every week by the end of our 10-year licence.' As reported by The Grocer, the rollout follows the biggest technology upgrade in the Lottery's history since it began in 1994. Between 2 and 4 August, systems were taken offline to allow new software and data migrations to take place. This meant players could not log into their online accounts, buy draw tickets, or claim prizes until services restarted on the Monday morning. While most shops were back up and running quickly, some retailers complained about problems with older machines. Go Local retailer Reuben Singh Mander said: 'We always said that we expected that a small proportion of legacy Altura terminals may experience delays coming back up for various reasons, including some that didn't download the new software successfully. 'We've been busy visiting and troubleshooting with the very small number of retailers who have experienced any residual issues.' Despite the disruption, Allwyn said the changes were vital to deliver its long-term plan to modernise the Lottery. The move comes after earlier changes this year, when Asda trialled a new digital scratchcard dispenser for the first time in 30 years. That system featured a touchscreen display and an automated dispenser designed to make buying scratchcards faster and easier.
