Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
The airport closed last night due to a serious fire, and all flights were suspended. The fire broke out in a multi-storey car park, causing it to collapse. Today Birkenstock, the orthopaedic, 250-year-old German shoe brand, will float on the New York stock market. The sandal maker, once seen as frumpy, now is the go-to footwear of hippies willing to sacrifice style for arch support, sold its shares at $46 ahead of its first day of trading, giving the company a market valuation of $8.6bn. Rural residents living near new power pylons and cables that are being rolled out as part of the UK's shift to net zero could be offered home insulation, heat pumps and other energy efficiency measures by National Grid, the daily Telegraph reported.
National Grid's chief strategy officer, Ben Wilson, said the company wanted people living alongside pylons and cabling to benefit from the infrastructure. He told the paper: ''It's time to tell people what we're doing,'' he said.
He added that the National Grid could also offer training academies to boost employment in the areas most affected by new transmission lines.
Germany's inflation has eased to an annual rate of 4.3%, the latest official figures show. Brand, the head of the Federal Statistical Office, said the agency's data showed that inflation was at the highest level in the United States.
The International Monetary Fund and the World Bank are preparing to hold annual meetings in Marrakech, Morocco. The group warned that the UK will have to maintain high interest rates until 2024 as the UK struggled with a combination of weaker growth and constant inflation.
In its half-yearly update on the global economy, the IMF said growth had already slowed 'fairly sharply' and painted a downbeat picture for the government as it enters what will almost certainly be an election year.