Day breaking brings together Scholz, Deutsche Post, Rheinmetall, Shell, and additional entities
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In the world of business and politics, several significant events have taken place in August 2025. Here's a roundup of some of the key developments:
U.S. Central Bank and Interest Rates
James Bullard, head of the St. Louis Federal Reserve branch, has expressed his support for a 0.75 percentage point increase in interest rates at the U.S. central bank's next meeting in September. This move is aimed at curbing inflation, which has been a concern for the U.S. economy.
European Economy and Tax Revenues
German tax revenues only increased slightly in July, rising by a minimal 0.3% year-on-year to €60 billion. The 2022 child bonus of €100 was paid out in July, contributing to the lower increase in tax revenues.
Many employees in Germany have benefited from the increase in the basic tax-free allowance and the employee tax allowance, both of which were increased retroactively from the beginning of the year 2022.
German Politics and the Cum-Ex Scandal
Chancellor Olaf Scholz has repeatedly denied any involvement in the Cum-Ex financial scandal. He is scheduled to testify before the Hamburg Parliament's investigative committee on Friday regarding the Cum-Ex scandal. However, as of early August 2025, there is no detailed or recent publicly available information about Chancellor Scholz's testimony or the progress of the investigation into his contacts with Warburg Bank related to the Cum-Ex scandal.
Tech Giants and Semiconductors
Applied Materials, a leading U.S. chip supplier, reported a 5% increase in revenue for the third quarter, reaching a record $6.52 billion. The company has also pleased the markets with its revenue forecast for the current fourth fiscal quarter.
Qualcomm, another U.S. semiconductor giant, is considering a return to the server market with a new chip, aiming to reduce dependence on the smartphone market. This move is linked to Qualcomm's acquisition of chipmaker Nuvia last year. Qualcomm is seeking customers for the new product, with Amazon's cloud division reportedly agreeing to take a look.
Deutsche Post and Tariff Approval
The Administrative Court of Cologne has declared the postage approval for 2019 to 2021 unlawful in five proceedings for Deutsche Post. The court's ruling has no effect on consumers, only the plaintiffs, including the industry association BIEK, can reclaim overpaid postage from the post office. The court's ruling on Deutsche Post's tariff approval is related to a legal dispute over the height of the letter postage.
[1] Note: As of early August 2025, there is no detailed or recent publicly available information about Chancellor Olaf Scholz's testimony or the progress of the investigation into his contacts with Warburg Bank related to the Cum-Ex scandal. The only relevant publicly noted reference is a social media mention from late July 2025 discussing Olaf Scholz and the Cum-Ex affair, but it does not provide substantive updates on testimony or investigation outcomes.
The events in August 2025 also saw significant developments in the finance and business industry, with Applied Materials, a leading U.S. chip supplier, reporting a 5% increase in revenue for the third quarter, reaching a record $6.52 billion. On the other hand, the European economy encountered a minimal 0.3% year-on-year increase in tax revenues in July, despite the payment of the 2022 child bonus. The German politics sector remains entangled in the Cum-Ex financial scandal, as Chancellor Olaf Scholz is scheduled to testify before the Hamburg Parliament's investigative committee, but the progress of the investigation remains unclear.
