German utility firm Uniper on ‘brink of insolvency’

German utility company Uniper reported a €12.3bn first-half loss, saying it had been pushed to the “brink of insolvency” by a huge drop in Russian gas deliveries. The loss by Europe’s biggest importer of Russian gas is one of the largest by a German company, eclipsing Bayer’s €10.5bn loss in 2020. Uniper chief executive Klaus-Dieter Maubach warned on Wednesday that Europe faced a grim energy outlook this winter.

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