Across the country, property prices were up 5 per cent during the first half of 2016. The greatest increases have been in cities such as Frankfurt, where prices of new-build apartments have risen 59 per cent since the beginning of 2008. A building shortage is exacerbating the problem. Source: FT
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George Soros, the billionaire who earned fame by betting against the pound in 1992, said Britain was approaching a tipping point that would see the economy slow to such an extent that Brexit might even be reversed. Source Reuters
Germany’s foreign intelligence service long spied on numerous official and business targets in the United States, including the White House, Spiegel weekly reported Thursday. The magazine said it had seen documents showing that the intelligence service, the BND, had a list of some 4,000 so-called selector keywords for surveillance between 1998 and 2006. Source The Local
Germany’s Thyssenkrupp (TKAG.DE) said it planned cost cuts worth at least 100 million euros ($112 million) to meet financial targets at its troubled unit that engineers industrial plants and builds ships, despite early signs of improvement. Source Reuters