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Habeck to Exit Bundestag as Gaza War Escalates and UniCredit Tightens Grip on Commerzbank

Political turnover, a deepening Gaza emergency, plus banking consolidation pressure define the day.

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Overview

  • Robert Habeck, former vice chancellor and economy minister for the Greens, will relinquish his Bundestag seat on 1 September.
  • The Israeli army signaled an advance to capture Gaza City, as the United Nations officially confirmed famine in northern Gaza over the weekend.
  • UniCredit said it lifted its direct stake in Commerzbank to about 26 percent, heightening expectations of a possible takeover bid for Germany’s second-largest private bank.
  • A large warehouse fire in the Port of Hamburg drew 275 firefighters, according to the city’s fire brigade.
  • The Institute for Employment Research published new findings on the 2015 refugee cohort’s labor-market integration, with Herbert Brücker describing the progress as greater than anticipated.