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autotldr t1_j9tzz9w wrote

This is the best tl;dr I could make, original reduced by 84%. (I'm a bot)

> The German chemicals company BASF has said it will cut 2,600 jobs as Europe's largest economy braces for recession triggered by the energy crisis that intensified after Russia's full-scale invasion of Ukraine a year ago.

> The year was "Dominated by the consequences of the war in Ukraine and in particular by increased raw material and energy prices", BASF said in a statement on Friday.

> "Continuing large price increases and the ongoing energy crisis had a negative effect on the German economy towards the end of the year," the office said.

Extended Summary | FAQ | Feedback | Top keywords: energy^#1 price^#2 BASF^#3 Europe^#4 high^#5

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Test19s t1_j9u4ku9 wrote

God damn the 2020s. Liberal trade makes everyone more prosperous, and countries like Germany having to source more raw materials locally decreases their carrying capacity.

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