FT News Briefing Germany’s pension crisis
91 snips
Aug 26, 2025 The podcast dives into the controversial firing of a Federal Reserve governor by Trump, raising eyebrows about political influence. Shares in Ørsted tumble after the U.S. halts a major wind farm project, highlighting challenges in the renewable energy sector. Germany's pension crisis takes center stage, focusing on the push for young people to invest in the stock market as a lifeline. There's a debate on whether reforms to the pension system are needed, with differing opinions between trade unions and private experts.
AI Snips
Chapters
Transcript
Episode notes
Nearly Finished Wind Farm Halted
- Ørsted had completed foundations and installed 45 of 65 turbines, aiming to power 350,000 homes.
- The US order stopping work came after permits were secured and construction was near completion.
Ørsted's Financial Distress
- Ørsted's shares are down nearly 90% from their peak and it plans a rights issue nearly equal to current market cap.
- Milne warns this raises severe dilution risks for existing shareholders and signals deep company stress.
Political Risk Hits Wind Investment
- Ørsted was four-fifths complete on a $1.5bn US offshore wind project when work was halted on national security grounds.
- Richard Milne links the stoppage to political hostility and says it signals higher investment risk for US renewables.