Chancellor Angela Merkel’s third- term government will seek to slow the expansion of land and sea- based wind power to cut the cost of the country’s unprecedented switch from nuclear energy to renewable sources.
Most stocks in Europe fell as an unexpected European Central Bank interest rate cut pointed to prolonged weak growth in the region and stronger U.S. economic data fueled speculation the Federal Reserve may reduce the pace of its bond buying in the coming meetings.
Siemens AG, Europe’s largest engineering company, will buy back as much as 4 billion euros ($5.4 billion) of shares as Chief Executive Officer Joe Kaeser bets that an efficiency push will boost profitability next year.
U.S. stocks and commodities slid as faster economic growth spurred concern the Federal Reserve will scale back stimulus sooner than expected, while Twitter Inc. surged in its trading debut. The euro fell, while the region’s bonds rose, as the European Central Bank cut interest rates.