Germany Business & Economics
Any rule on Bitcoin must be global, Germany's central bank says
Bitcoin: Warren Buffett rechnet mit Crash der Kryptowährung
Pondy varsity signs MoU with German business school
Germany lays charges in Ryanair pilots 'tax fraud' probe
Bitcoin: Elmar Brok warnt Kleinsparer vor Kryptowährungs-Blase
Bitcoin: Was der Hype über den Finanzkapitalismus verrät- Kolumne
Patrols at Potsdam Christmas market after bomb scare
Bitcoin-Kurs stürzt unter 10.000 Dollar
2018-01-17 14:04:08 Schwarze Woche für die Bitcoin-Community: Nachdem die Kryptowährung bereits am Dienstag bis zu 25 Prozent an Wert verloren hatte, setzt sich der Absturz fort. Am Mittwoch verlor der Kurs noch einmal zwischenzeitlich mehr als elf Prozent und durchschlug zeitweilig die Marke von 10.000 Dollar. Gegen Mittag erholte sich der Kurs leicht wieder auf 10.588 Dollar. Zum Vergleich: Vor einem Monat hatte der Kurs noch bei etwa 20   Read More ...
German central bank chief says it would be 'appropriate' for ECB to stop its bond buying this year
2018-01-17 12:28:33 It would be "appropriate" for the European Central Bank to stop its bond purchases, due to run at least until September, this year, Germany's representative on the bank's policymaking body said in an interview to be published on Wednesday. "I would hold that for appropriate from today's point of view," Bundesbank's head Jens Weidmann told the Frankfurter Allgemeine Zeitung according to a preview of the interview   Read More ...
German startup AUTO1 gets $558 million Softbank investment
2018-01-17 04:54:54 BERLIN (AP) -- Japan's Softbank is investing 460 million euros ($558 million) in German used car trading platform AUTO1. The Berlin-based company was launched in 2012 and operates in over 30 countries, selling more than 40,000 cars a month on its associated sites. AUTO1 said in a statement Monday that the investment from Softbank Vision Fund values its business at 2   Read More ...
Any rule on Bitcoin must be global, Germany’s central bank says
2018-01-16 12:21:11 Frankfurt: Any attempt to regulate cryptocurrencies such as Bitcoin must be on a global scale as national or regional rules would be hard to enforce on a virtual, borderless community, a director at Germany’s central bank said on Monday. National authorities across the globe, and particularly in Asia, have attempted to put the brakes on a global boom in the trading of Bitcoin and other cryptocurrencies — a form of digital money created and maintained by its users   Read More ...
Any rule on Bitcoin must be global, Germany's central bank says
2018-01-15 17:46:25 FRANKFURT (Reuters) - Any attempt to regulate cryptocurrencies such as Bitcoin must be on a global scale as national or regional rules would be hard to enforce on a virtual, borderless community, a director at Germany’s central bank said on Monday. National authorities across the globe, and particularly in Asia, have attempted to put the brakes on a global boom in the trading of Bitcoin and other cryptocurrencies - a form of digital money created and maintained by its users   Read More ...
German startup AUTO1 gets $558 million Softbank investment
2018-01-15 16:38:39 BERLIN (AP) — Japan's Softbank is investing 460 million euros ($558 million) in German used car trading platform AUTO1. The Berlin-based company was launched in 2012 and operates in over 30 countries, selling more than 40,000 cars a month on its associated sites. AUTO1 said in a statement Monday that the investment from Softbank Vision Fund values its business at 2   Read More ...
German carmakers eye further US market share gains in 2018-VDA
2018-01-15 15:01:35 DETROIT: German automakers expect to continue to grow market share in the United States this year thanks to a raft of new models, even as demand in the world's second largest car market is seen falling again slightly, Germany's VDA industry lobby said. Manufacturers including Volkswagen , Daimler and BMW raised their combined share of the U.S. auto market to 7   Read More ...
In surplus and growing fast, German economy powers on
2018-01-14 12:12:28 BERLIN: Germany’s economy expanded at its fastest in six years in 2017 as its public finances posted a record surplus, fuelling expectations of another strong showing in 2018 and sharpening a political debate about how the windfall should be managed. Growth reached 2.2 per cent last year, the federal statistics office said on Thursday. That missed a Reuters poll forecast of 2   Read More ...
Euro scales 3-year dollar pinnacle on German deal hopes
2018-01-13 11:01:15 NEW YORK: The European single currency surged Friday to a three-year peak against the dollar as German Chancellor Angela Merkel moved closer to a new coalition government. The euro's advance came as most global equity markets pushed higher, with US stocks again surging to fresh records as earnings season got underway amid optimism following tax reform. Near 2140 GMT, (5.40 Malaysia time) the euro was at US$1   Read More ...
German Economic Growth Hits Six-Year High
2018-01-11 18:00:07 Jan. 11, 2018 6:16 a.m. ET BERLIN—Germany’s economy grew at the fastest annual pace in six years in 2017, according to data released Thursday, adding further weight to a pickup in growth across the eurozone. The German statistics office said gross domestic product grew 2.2% last year, after economists polled by The Wall Street Journal expected growth of 2.3%. Still, it was the fastest pace of growth recorded since 2011   Read More ...
German GDP grew 2.2 percent in 2017, strongest rate in six years
2018-01-11 12:16:21 The German economy grew by a less than expected 2.2 percent in 2017, the strongest rate in six years and an improvement on the previous year, a preliminary estimate from the Federal Statistics Office showed on Thursday. Europe's largest economy is benefiting from rising private consumption and resurgent exports buoyed by a recovery of the global economy. Economists polled by Reuters had expected growth in gross domestic product (GDP) of 2   Read More ...
German car suppliers could lose thousands of jobs over hard Brexit - study
2018-01-11 11:41:59 BERLIN (Reuters) - A so-called “hard Brexit” involving tariffs and a lasting devaluation of the pound could cause thousands of job losses at German automotive suppliers, a study by accounting firm Deloitte showed. An arrangement where Britain gives up full access to the single market and customs union could threaten as many as 14,000 jobs at automotive suppliers in Germany and shrink their sales by 3   Read More ...
Brexit: UK must keep paying into EU budget if its banks want to trade in Europe, Germany to demand
2018-01-11 11:04:09 The UK will be asked to make substantial indefinite contributions to the EU budget after Brexit in exchange for British banks having access to Europe’s financial markets, under plans being considered in Brussels. German government officials told the Bloomberg news agency that a trade deal with the UK could only include financial services if the UK makes payments to Brussels and continues to follow EU law   Read More ...
Bitcoin: Warren Buffett rechnet mit Crash der Kryptowährung
2018-01-10 17:44:00 Star-Investor Warren Buffett hat sich zum Hype um Kryptowährungen geäußert. Für den 87-Jährigen kommen Bitcoin und andere Digitalwährungen als Investition nicht infrage. Im US-Sender CNBC warnte er Anleger stattdessen vor den Digitalwährungen. "Ich kann mit annähernder Sicherheit sagen, dass sie ein böses Ende nehmen werden," sagte Buffett. Nach eigenen Angaben spekuliert er mit seiner Investmentfirma Berkshire Hathaway aber bislang noch nicht auf einen Crash   Read More ...
Britain presses Germany for Brexit financial services deal
2018-01-10 15:46:02 LONDON (AP) — Two senior British officials urged Germany on Wednesday to support a post-Brexit deal that protects the important financial services sector and doesn't hamper trade with unnecessary red tape. Britain's Brexit minister and Treasury chief are trying to woo Europe's biggest economy and gain leverage in ongoing talks about the EU's future relationship with London after the U.K.'s departure from the bloc in March 2019   Read More ...
Britain presses Germany for EU financial services deal
2018-01-10 15:45:26 LONDON – Britain's Brexit minister and Treasury chief pressed for German support for a future trade deal that encompasses the important financial services sector as they prepared Wednesday for trips to the European Union's biggest economy. Britain is to leave the EU in March 2019. London last month secured an agreement with the other 27 countries to move on to the next phase of exit talks — discussing future relations, including trade, and transition arrangements   Read More ...
Kryptowährungen wie Bitcoin: Kodak setzt auf den Hype & Aktienkurs steigt
2018-01-10 11:47:33 Offenbar muss man zur Zeit nur irgendetwas mit Bitcoin oder Kryptowährung machen – und schon geht der Aktienkurs durch die Decke. Vor Weihnachten erlebte das eine Tee-Firma, indem sie das Wort „Blockchain“ in ihren Namen packte. Jetzt reicht es, dass Kodak einen eigenen „Coin“ erfindet. Die Aktie schloss im US-Handel mit einem Plus von 120 Prozent bei knapp sieben Dollar. Und da war noch nicht Schluss: Nachbörslich kletterte die Aktie auf neun Dollar   Read More ...
Lidl and Aldi share title of Britain’s fastest growing supermarket, data reveals
2018-01-09 10:35:50 German discounter duo Lidl and Aldi shared the title of Britain’s fastest growing supermarket in the three months to the end of December, figures published by Kantar Worldpanel on Tuesday revealed. Both retailers managed to grow their sales by an impressive 16.8 per cent compared to the same period last year, taking Aldi’s share of the entire UK grocery market to 6   Read More ...
European stocks stick to 2-year highs despite German orders disappointment
2018-01-08 12:21:16 European stocks rose Monday, with gains in German shares helping the broad market build on a more than two-year highs despite downbeat data from Europe’s largest economy. What are markets doing: The Stoxx Europe 600 index was up 0.2% to 398.19, led by the basic material and financial sectors. But tech, utility and consumer-goods shares were lower. The gauge on Friday finished at its highest since August 2015, according to FactSet data, leading to last week's rise of 2   Read More ...
Forbes-Liste auf den Kopf gestellt - Krypto-Milliardäre plötzlich reicher als Zuckerberg
2018-01-08 10:01:11 Der Bitcoin-Hype produziert neue Milliardäre am laufen Band – zumindest auf dem Papier. Einer dieser Neu-Milliardäre ist Chris Larsen (57), Gründer der Krypto-Währung Ripple. Innerhalb eines Jahres wurde der Bitcoin-Herausforderer zur zweitgrößten digitalen Währung – und Larsen für einen Tag reicher als Facebook-Chef Mark Zuckerberg (33). Laut Forbes-Liste stieg Larsens Vermögen zu Jahresbeginn auf 59 Milliarden Dollar (Zuckerberg: 56 Milliarden Dollar)   Read More ...
Rising German retail sales point to strong private consumption
2018-01-05 12:17:00 BERLIN German retail sales surged more than expected in November and were estimated to have risen sharply in 2017 overall, data showed on Friday, boosting hopes that private consumption propped up growth in Europe’s biggest economy last year. Germans revelling in record-high employment, a secure job market, rising wages and low borrowing costs are casting their traditional thriftiness aside to spend more, helping private consumption replace exports as the main growth driver   Read More ...
German tax office targets Chinese online retailers: Handelsblatt
2018-01-04 15:01:44 FRANKFURT/BERLIN: German tax investigators have seized goods and accounts of about 100 Chinese online retailers selling products via Amazon.com Inc in Germany and failing to pay sales taxes, daily Handelsblatt reported on Thursday, citing industry sources. The investigation is led by the Berlin-Neukoelln tax office, which is responsible for value added tax (VAT) registration of Chinese retailers in Germany, the paper said   Read More ...
German tax office targets Chinese online retailers: Handelsblatt
2018-01-04 14:42:52 FRANKFURT/BERLIN (Reuters) - German tax investigators have seized goods and accounts of about 100 Chinese online retailers selling products via Amazon.com Inc () in Germany and failing to pay sales taxes, daily Handelsblatt reported on Thursday, citing industry sources. The investigation is led by the Berlin-Neukoelln tax office, which is responsible for value added tax (VAT) registration of Chinese retailers in Germany, the paper said   Read More ...
German tax office targets Chinese online retailers -Handelsblatt
2018-01-04 14:08:57 FRANKFURT/BERLIN, Jan 4 (Reuters) - German tax investigators have seized goods and accounts of about 100 Chinese online retailers selling products via Amazon.com Inc in Germany and failing to pay sales taxes, daily Handelsblatt reported on Thursday, citing industry sources. The investigation is led by the Berlin-Neukoelln tax office, which is responsible for value added tax (VAT) registration of Chinese retailers in Germany, the paper said   Read More ...
Pondy varsity signs MoU with German business school
2018-01-03 19:20:28 The Department of International Business at the School of Management, Pondicherry Central University, and the Friedrich-Alexander- Universität Erlangen-Nürnberg (FAU), School of Business and Economics, Nürnberg, Germany, on Wednesday signed a Memorandum of Understanding (MoU) on research and teaching. After the ceremony, Pondicherry University Vice Chancellor Dr. Gurmeet Singh stressed the importance of cooperation in research and teaching, and sharing of good conventions and best practices, among higher learning institutions   Read More ...
ECB governor calls for tax, regulation on bitcoin
2018-01-03 16:01:55 BERLIN (AFP) - A top European Central Bank official on Wednesday called for governments to regulate and tax bitcoin, labelling the cryptocurrency an object of speculation and a tool for money laundering. "One ought to apply what the basic rule is in any other financial transaction: everyone involved should reveal their identity," ECB governing council member Ewald Nowotny told the German daily Sueddeutsche Zeitung   Read More ...
German court to decide on Niki insolvency challenge on Thursday
2018-01-03 12:00:53 FRANKFURT/VIENNA: A German court is likely to decide on Thursday whether to reverse the insolvency filing of airline Niki, according to a statement from Berlin's civil courts, which could derail the sale of the Air Berlin unit to Britain's IAG . Niki filed for insolvency last month after Germany's Lufthansa scrapped plans to buy the Austrian unit, grounding the airline's fleet and stranding thousands of passengers   Read More ...
German court to decide on Niki insolvency challenge on Thursday
2018-01-03 11:41:15 FRANKFURT/VIENNA (Reuters) - A German court is likely to decide on Thursday whether to reverse the insolvency filing of airline Niki, according to a statement from Berlin’s civil courts, which could derail the sale of the Air Berlin () unit to Britain’s IAG (). Niki filed for insolvency last month after Germany’s Lufthansa () scrapped plans to buy the Austrian unit, grounding the airline’s fleet and stranding thousands of passengers   Read More ...
Germany's JAB Holding seeks funds for coffee and cosmetics deals
2018-01-02 09:39:40 FRANKFURT, Jan 2 (Reuters) - JAB Holding, a private investment company that has grown fast through a string of coffee deals in recent years, wants to make further acquisitions and is seeking funds from investors, an executive told a German paper. “Our transactions are getting bigger and we need more money,” JAB partner and chairman Bart Becht said in an interview with German daily Handelsblatt published on Tuesday   Read More ...
Merkel's allies seek cuts to tax and migrant benefits
2018-01-02 04:05:44 Berlin: Germany's Bavarian conservatives are pressing for corporate tax cuts and cuts to welfare payments for asylum seekers, further complicating talks to form a new government. Chancellor Angela Merkel hopes to secure a fourth term in office by persuading the centre-left Social Democrats (SPD) to extend the "grand coalition" that ruled Germany for the past four years, even though both blocs suffered big losses in September's election   Read More ...
Merkel's allies, further defying SPD, seek cuts to tax and asylum seeker benefits
2018-01-01 20:39:14 BERLIN (Reuters) - Germany’s Bavarian conservatives are pressing for corporate tax cuts and cuts to welfare payments for asylum seekers, which could complicate talks with the Social Democrats (SPD) on forming a new government. Chancellor Angela Merkel hopes to secure a fourth term in office by persuading the center-left SPD to extend the “grand coalition” that ruled Germany for the past four years, even though both blocs suffered big losses in September’s election   Read More ...
Merkel's allies, further defying SPD, seek corporate tax cuts
2018-01-01 14:39:20 BERLIN (Reuters) - Germany’s Bavarian conservatives are pressing for corporate tax cuts and abolition of a tax imposed after reunification to help poorer eastern states, which could complicate talks with the Social Democrats (SPD) on forming a new government. Chancellor Angela Merkel hopes to secure a fourth term in office by persuading the center-left SPD to extend the “grand coalition” that ruled Germany for the past four years, even though both blocs suffered big losses in September’s election   Read More ...
German lawmaker blasts EU for opposing Niki sale to Lufthansa
2017-12-31 15:00:35 BERLIN: The German government will probably lose a 150 million-euro government-backed loan to insolvent Air Berlin because the European Union opposed Lufthansa's purchase of Air Berlin's Austrian unit, Niki, a senior member of Chancellor Angela Merkel's conservatives said on Sunday. British Airways owner IAG said on Friday that it would buy Niki for 20 million euros and provide additional liquidity to the company of up to 16   Read More ...
Germany lays charges in Ryanair pilots 'tax fraud' probe
2017-12-30 19:30:34 BERLIN: German prosecutors said on Thursday they had charged five employees of a British recruitment agency working with Irish low-cost carrier Ryanair over millions of euros in allegedly unpaid social security payments for its pilots. No Ryanair staff were among the accused but "investigations against employees of Ryanair over incitement to the alleged activities continue," said the prosecution service in the western city of Koblenz   Read More ...
Volkswagen loses German court bid over diesel scandal audit
2017-12-30 10:05:35 Germany’s highest court has rejected a bid by Volkswagen for an injunction blocking the deployment of a special auditor sought by a shareholders’ rights group in its diesel emissions scandal. Last month, a court in Celle backed an independent check on events surrounding the scandal that pushed down VW shares when it erupted in 2015. The DSW shareholders’ group had previously failed to get VW’s regular general meeting to agree to such a review on top of an investigation already commissioned by the automaker   Read More ...
Dilemma for ECB as German inflation hits five-year high
2017-12-29 17:08:02 BERLIN (Reuters) - German inflation hit its highest level in five years in 2017, initial data showed on Friday, sowing the seeds of more discord among rate setters at the European Central Bank, where some policymakers want to stop pouring money into the euro zone. “This is the correction to the inflation course desired by the ECB,” said Alexander Krueger of Bankhaus Lampe   Read More ...
Bitcoin unter Druck: Südkorea will gegen Spekulation vorgehen
2017-12-28 11:46:04 Der Kurs der umstrittenen Kryptowährung rutschte auf der Handelsplattform Bitstamp zeitweise unter die Marke von 14 000 US-Dollar (umgerechnet knapp 11 700 Euro) . Zuletzt notierte der Bitcoin noch 7,90 Prozent im Minus bei 14 150,68 Dollar. Zur Wochenmitte hatte sich der Kurs noch auf mehr als 16 000 Dollar (knapp 13 400 Euro) erholt, bevor er wieder bröckelte. Am Donnerstag beschleunigte sich die Talfahrt dann, nachdem die südkoreanische Regierung über Maßnahmen zur Eindämmung der Spekulation mit dem Bitcoin nachgedacht hatte   Read More ...
CapitaLand acquires first office building in Germany
2017-12-28 04:30:41 SINGAPORE: CapitaLand has acquired its first office building in Germany, marking the expansion of its commercial business beyond Asia, the group announced on Thursday (Dec 28). CapitaLand said in a press release that it purchased the Main Airport Centre (MAC), a freehold multi-tenanted office in Frankfurt, for 245 million euros (S$392 million) through a joint venture. The group holds a 94   Read More ...
Germany energy consumers paid to use power over Christmas as supply outstrips demand
2017-12-27 12:34:18 German energy consumers were paid to use power over the Christmas period, thanks to a slump in demand, warm weather and plenty of wind power on the grid, trading data shows. Power prices slipped into negative territory on 24 December and again on 26 December, according to the website of the EPEX Spot, which is Europe’s biggest power trading exchange   Read More ...
Power Prices Go Negative in Germany, a Positive for Energy Users
2017-12-25 10:34:00 Photo Germany has spent $200 billion over the past two decades to promote cleaner sources of electricity. That enormous investment is now having an unexpected impact — consumers are now actually paid to use power on occasion, as was the case over the weekend. Power prices plunged below zero for much of Sunday and the early hours of Christmas Day on the EPEX Spot, a large European power trading exchange, the result of low demand, unseasonably warm weather and strong breezes that provided an abundance of wind power on the grid   Read More ...