Germany’s Uniper Suffers 12 Billion-Euro Hit in Energy Shock
- Energy giant’s losses lay bare the severity of European crisis
- Company says volatility is clouding forecast for this year
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Uniper SE reported a loss of more than 12 billion euros ($12.2 billion) for the first half of the year, ranking among the biggest in German corporate history and laying bare the unprecedented crisis engulfing Europe’s energy markets.
The size of the hit for the utility, which last month received a government bailout, shows just how severe the situation is as the European Union braces for what could be a difficult winter.