German subsidies.

The German government has agreed on a “massive” new package of tax subsidies for industry worth up to €28bn by 2028 as it seeks to further shield manufacturers from high energy costs, the FT reports.

Germany's competitiveness is in danger and the huge subsidy package shows industry's challenge to adapt to a world without cheap Russian gas.

Anca heashot

Anca Gurzu

Chief Europe Correspondent