In the News
Energy Crisis - Germany nationalises energy giant Uniper
The German government has taken the drastic step of taking a 98% stake in Uniper, effectively nationalising it via a Euro 29 billion bail-out. The firm is one of the country's biggest gas suppliers and is also in negotiations with another, VNG.
Because of Germany's dependence upon Russian gas - it had previously been the largest European importer of gas until the closure of Nordstream 1, and the government has introduced a range of measures designed to reduce energy consumption including a restriction on the temperature to which offices can be heated as well as sought out new sources of gas to ensure that storage facilities are close to full capacity.
Take a look below at what happened almost immediately to their share price!