German business confidence deteriorated in June, a survey showed on Monday, suggesting the mood among company executives in Europe’s biggest economy is darkening in light of the threat of a global trade war. The Munich-based Ifo economic institute said its business climate index fell to 101.8, falling slightly less than predicted in a Reuters consensus forecast of 101.7. “The tailwind enjoyed by the German economy is calming down,” Ifo chief Clemens Fuest said. (full story)