Germany Business & Economics
German watchdog to issue further diesel-car recalls: Audi CEO
MBDA and Lockheed form joint venture for German missile defense project
German discount supermarket Kaufland beefs-up recruitment drive ahead of local launch
Amazon-Chef Jeff Bezos ist nun der reichste Mensch der Welt
US-Europe trade war must be avoided: German carmakers
VW tells court it did not break rules over dieselgate disclosure
No sign of violations in Geely purchase of Daimler stake: Merkel
Großinvestor Soros stegit ins Bitcoin-Business ein
2018-04-09 12:01:17 Noch im Januar hatte der Devisenhändler und Groß-Investor George Soros (87) klar über die Krypto-Währungen geurteilt: „Eine Blase.“ Und tatsächlich brachen die Kurse seither um mehr als 40 Prozent ein. Jetzt lässt er die Anleger erneut aufhorchen, denn sein 26 Milliarden Dollar schweres „Familienbüro“ plant plötzlich, das digitale Geld selbst zu handeln! Tatsächlich hatte Adam Fischer, der die Groß-Investitionen des „Soros Management Fond“ in New York überwacht, bereits in den vergangenen Monaten von dem gebürtigen Ungarn die Zustimmung bekommen, „virtuelle Taler“ zu kaufen   Read More ...
ECB’s German Skew Raises Questions Over Draghi’s Successor
2018-03-20 12:00:13 Updated March 20, 2018 5:54 a.m. ET FRANKFURT—Germany’s outsize influence at the European Central Bank is raising concerns among some eurozone officials and banking executives ahead of a decision over whether to name a German to lead the institution for the first time. The ECB, based here in Germany’s financial capital, has more German nationals on its staff than French, Italians and Spanish combined, according to new data that could heighten concerns over German dominance of the European Union’s most important institutions   Read More ...
Germany's push towards renewables fuels major reshuffle in the energy sector
2018-03-13 00:18:36 A major asset swap in the German energy sector lifted Europe stocks Monday, as two behemoths of the industry restructured their firms to adjust to the current political climate. Green energy business Innogy, separated from parent company RWE and publicly listed in 2016, is to be broken up. Under the terms of the deal, which has been agreed in principle and was announced Sunday, RWE will sell its 76   Read More ...
Innogy shares soar in pre-market on break-up plans
2018-03-12 10:09:09 ESSEN, Germany (Reuters) - Innogy saw its stock jump 16 percent in pre-market trade on Monday after parent RWE and rival E.ON announced plans to divide up the operations of Germany’s largest energy company by market value. The plans, announced on Sunday, are part of sweeping changes by utilities as they look to bolster green energy and prepare for Germany’s exit from nuclear power in 2022   Read More ...
Germany: Trump's tariff plan bad for US economy
2018-03-12 09:33:16 The German economy minister has warned about the consequences of the US president’s plan to slap tariffs on aluminum and steel imports. Brigitte Zypries stressed that the move will cost jobs and hinder economic growth. She noted that Donald Trump's policies put the order of a free global economy at risk. The German economy minister said imposing tariffs on aluminum and steel imports jeopardizes market prosperity. Zypries underlined the necessity for a collective response from the European Union in order to show Washington that there will be countermeasures if Trump goes ahead with his plan. The US president’s announcement has been met by strong objections from Washington’s allies and main trade partners who believe the move amounts to an open war on their interests   Read More ...
German energy giant EON to buy RWE subsidiary Innogy
2018-03-11 19:30:27 BERLIN: German energy giant EON plans to take over Innogy, the renewables subsidiary of competitor RWE, in a complex deal valued at around €20 billion (US$25 billion), both companies said on Sunday (Mar 11). The in-principle agreement involving asset swaps is part of a major restructuring of Germany's energy market as Europe's top economy switches from conventional to renewable power. The aim is for EON to focus on the retail, energy networks and customer solutions business, while RWE would take over the renewables power generation of both companies   Read More ...
Internet tycoon challenges Deutsche Telekom to team up on German broadband
2018-03-10 17:42:02 FRANKFURT (Reuters) - The billionaire founder of United Internet has urged internet providers to found a joint company to build out Germany’s high-speed broadband network, challenging market leader Deutsche Telekom to back the venture. Ralph Dommermuth said industry should take the lead on laying the glass fiber network in Germany, where just 2.5 percent of households are directly hooked up to such ultra-fast connections - less than in other developed nations   Read More ...
Germany: US import duty hike would 'hurt both sides'
2018-03-10 15:06:52 (5 Mar 2018) Germany said Monday a hike in U.S. import duties for European-made products would hurt both sides. U.S. President Donald Trump has backed tariffs on foreign-made aluminum and steel and warned European cars might face taxes higher too. German government spokesman Steffen Seibert said such measures “would sorely affect international trade flows,” European industries and in particular “workers and consumers on both sides of the Atlantic.” Seibert told reporters that in Berlin’s view comparing individual tariffs was misleading because each side sets import duties across a range of sectors. He said Germany would consult with European partners about what steps to take next   Read More ...
German watchdog to issue further diesel-car recalls: Audi CEO
2018-03-09 14:01:31 INGOLSTADT, Germany: Germany's KBA automotive watchdog will recall more vehicles with larger diesel engines as part of a recall of 850,000 models issued last year, Audi's chief executive said. Volkswagen's luxury division last July said 850,000 diesel models with 6-cylinder and 8-cylinder engines needed an update of their engine-management software to bring emissions into line with legal limits. The affected models also include vehicles from the VW brand and Porsche   Read More ...
German industry warns against "spiral of protectionism" after U.S. tariffs
2018-03-09 10:43:21 BERLIN, March 9 (Reuters) - Four German industry groups on Friday warned against a “spiral of protectionism” after U.S. President Donal Trump’s imposition of tariffs on steel and aluminum, urging the government and the European Union to remain committed to free trade. The DIHK trade group, BDA employers association, BDI industry group and German Confederation of Skilled Crafts (ZDH) also raised concerns about German domestic policy issues in a joint statement issued after a meeting in Munich   Read More ...
MBDA and Lockheed form joint venture for German missile defense project
2018-03-08 11:01:01 BERLIN: The German unit of European missiles maker MBDA and U.S. arms company Lockheed Martin Corp have formed a joint venture to press ahead with a new air and missile defense system being negotiated with the German military, they said on Thursday. The 60-40 MBDA-led venture will serve as prime contractor for the new multibillion-dollar TLVS system, which the two companies have been negotiating to get under contract with the German defense ministry since 2015   Read More ...
VW to pay increased 4,100-euro bonus to German staff: document
2018-03-08 10:01:24 BERLIN: Volkswagen will increase bonus payments to its staff in Germany by over 40 percent after the carmaker posted record profit and sales last year, a labor union publication showed. The annual bonus for 2017 will be raised to 4,100 euros (US$5,088.10) per worker from 2,905 euros a year earlier, according to the publication seen by Reuters that will be distributed to staff on Thursday   Read More ...
German discount supermarket Kaufland beefs-up recruitment drive ahead of local launch
2018-03-08 07:07:11 KAUFLAND is coming. And when it does, Aussie shoppers are set to hit the jackpot with plummeting grocery prices across the country. KAUFLAND is preparing to mount its attack on Australia’s supermarket giants — and shoppers are set to benefit. The German discount supermarket heavyweight has launched a high-level recruitment drive ahead of its launch into the Australian market. The chain’s owners, the Schwarz Group, have already purchased a former Bunnings site in Dandenong, Melbourne for $16   Read More ...
Germany economic boom pushes job vacancies to record high of 1.2 million
2018-03-07 23:11:29 Job vacancies in Germany hit an all-time high in the last three months of 2017, data has revealed, underlining the strength of a labour market that is pushing up wages and fuelling a consumer-led upswing in Europe’s biggest economy. Vacancies surged by 85,000 on the quarter and by 128,000 on the year to reach 1.18 million in the fourth quarter, a survey by the IAB labour office research institute found   Read More ...
Germany could re-examine foreign investment threshold: senior official
2018-03-07 16:42:52 BERLIN (Reuters) - The German government has set the threshold at which it can intervene in response to foreign investments in German companies too high and may have to think about lowering it, a senior official in the economy ministry said on Wednesday. Berlin tightened controls on foreign investments last year after a series of high-profile takeovers in Germany by Chinese firms, by extending a 25 percent shareholding threshold at which Berlin can intervene to additional business sectors   Read More ...
German foreign investment threshold was set too high - senior official
2018-03-07 15:10:14 BERLIN, March 7 (Reuters) - The German government set the threshold at which it can intervene in response to foreign investments in German companies too high and may have to think about lowering it, a senior official in the German economy ministry said on Wednesday. The government tightened controls on foreign investments last year after a series of high-profile takeovers in Germany by Chinese firms, setting the threshold at which Berlin can intervene at a shareholding of 25 percent   Read More ...
Amazon-Chef Jeff Bezos ist nun der reichste Mensch der Welt
2018-03-06 21:06:21 Amazon-Chef Jeff Bezos hat dem Microsoft-Gründer Bill Gates den Rang als reichster Mensch der Welt abgelaufen. Laut der vom US-Magazin "Forbes" veröffentlichten Rangliste der Milliardäre hat sich Bezos' Vermögen in den vergangenen zwölf Monaten nahezu verdoppelt - dank des enormen Anstiegs der Aktie seines Internetkonzerns. Das Vermögen des 54-Jährigen liegt demnach nun bei geschätzten 112 Milliarden Dollar (97 Milliarden Euro). Das von Gates schrumpfte hingegen um etwa 400 Millionen Dollar und liegt nun bei 90 Milliarden Dollar   Read More ...
Berlin: Warren Buffett drängt auf Berliner Immobilien-Markt
2018-03-05 20:43:37 Die Kauf- und Mietpreise für Immobilien gelten in deutschen Großstädten als drängendste soziale Frage. In Berlin interessiert sich jetzt auch US-Starinvestor Warren Buffettfür Immobilien. Buffetts Firma Berkshire Hathaway Home Services (BHHS) geht nach eigenen Angaben eine Allianz mit dem Berliner Immobilienmakler Rubina Real Estate ein. Es sei der erste internationale Vertrag des Unternehmens, sagte BHHS-Chef Gino Blefari. "Wir werden in den kommenden Monaten weitere renommierte Immobilienagenturen in Europa, Asien, Nordamerika und darüber hinaus zu Franchisenehmern machen", sagte Blefari   Read More ...
Trump trade threats alarm German carmakers, hit investor morale
2018-03-05 16:01:27 FRANKFURT/BERLIN: German car companies urged policymakers on Monday to avoid a trade war with the United States "at all costs" after U.S. President Donald Trump threatened to tax car imports from the European Union. The United States is the second-biggest export destination for German auto manufacturers after China, while vehicles and car parts are Germany's biggest source of export income. "Punitive duties can't be the answer," Bernhard Mattes, president of Germany's VDA automotive industry association, said in a statement   Read More ...
Trump trade threats alarm German carmakers, hit investor morale
2018-03-05 15:50:48 FRANKFURT/BERLIN (Reuters) - German car companies urged policymakers on Monday to avoid a trade war with the United States "at all costs" after U.S. President Donald Trump threatened to tax car imports from the European Union. The United States is the second-biggest export destination for German auto manufacturers after China, while vehicles and car parts are Germany's biggest source of export income   Read More ...
Germany tells Airbus to behave responsibly after job cut report
2018-03-05 13:01:06 BERLIN: Airbus must take responsible decisions, Germany said on Monday after a French magazine reported that Airbus plans to move or cut 3,600 jobs due to a decline in production rates of the A380 and A400M planes. A spokesman for the economy ministry declined to comment on the report but said in general, Airbus must take responsible decisions and act responsibly toward its factory locations   Read More ...
US-Europe trade war must be avoided: German carmakers
2018-03-05 12:30:31 FRANKFURT: German carmakers said on Monday that a trade war between the United States and Europe must be avoided, expressing their profound concern after U.S. President Donald Trump threatened to tax car imports. "Punitive duties can't be the answer," Bernhard Mattes, president of Germany's VDA automotive industry association, said in a statement. "A trade war between the USA and Europe must be avoided at all costs   Read More ...
Faced with U.S. tax cuts, France, Germany hasten harmonisation - Merkel
2018-03-03 12:47:05 BERLIN (Reuters) - Germany and France will bring forward plans to introduce a common corporation tax system in response to tax cuts announced by the Trump administration, Chancellor Angela Merkel said. The announcement comes amid unprecedented tensions between the U.S. under President Donald Trump and its long-standing European allies over Washington's planned introduction of steel tariffs that Europe fears will distort global trade   Read More ...
Faced with US tax cuts, France, Germany hasten harmonisation - Merkel
2018-03-03 12:30:25 BERLIN: Germany and France will bring forward plans to introduce a common corporation tax system in response to tax cuts announced by the Trump administration, Chancellor Angela Merkel said. The announcement comes amid unprecedented tensions between the U.S. under President Donald Trump and its long-standing European allies over Washington's planned introduction of steel tariffs that Europe fears will distort global trade   Read More ...
Faced with U.S. tax cuts, France, Germany hasten harmonization: Merkel
2018-03-03 12:10:16 BERLIN (Reuters) - Germany and France will bring forward plans to introduce a common corporation tax system in response to tax cuts announced by the Trump administration, Chancellor Angela Merkel said. The announcement comes amid unprecedented tensions between the U.S. under President Donald Trump and its long-standing European allies over Washington’s planned introduction of steel tariffs that Europe fears will distort global trade   Read More ...
Eurozone bonds sailing into weekend of key risk events
2018-03-02 18:18:04 LONDON Germany’s 10-year government bond yield hit a five-week low on Friday, as an Italian election and a milestone in German coalition politics this Sunday together with news of stiff U.S steel and aluminium tariffs boosted demand for safe-haven debt. But Italian bond yields also fell, pushing the gap over German peers to its tightest in two weeks and suggesting some confidence among investors heading into an election weekend   Read More ...
German new car sales jump in February: industry data
2018-03-02 18:16:33 FRANKFURT AM MAIN Sales of new cars increased strongly in Germany in February, industry data showed Friday, but shipments of diesel vehicles continue to fall in the wake of repeated scandals. The number of new cars registered on the country’s roads rose by seven per cent to 261,700 last month, figures from manufacturers’ association VDA showed. That brought the total for the first two months of the year combined to 531,100 vehicles, the highest level since 1999, the VDA said in a statement   Read More ...
Trade war? Germany urges U.S. to rethink steel, aluminum tariffs
2018-03-02 15:01:10 U.S. President Donald Trump said on Thursday the United States would impose tariffs of 25 percent on steel imports and 10 percent on imported aluminum, starting next week. Rough Cut (no reporter narration). Video provided by Reuters Newslook. BERLIN — U.S. President Donald Trump risks sparking a trade war with his closest allies if he goes ahead with plans to impose steep tariffs on steel and aluminum imports, German officials and industry groups warned Friday   Read More ...
VW tells court it did not break rules over dieselgate disclosure
2018-03-01 20:01:08 HANOVER, Germany: Volkswagen's bosses missed warning signs ahead of its diesel emissions scandal, but did not break market rules by delaying the disclosure of its problems, the carmaker's lawyers said in a submission to a German court reviewed by Reuters. Investors from around the world are seeking 9 billion euros (US$11 billion) in damages from Volkswagen (VW), which they say didn't inform shareholders quickly enough over its use of illegal software to cheat U   Read More ...
Germany: Economics minister reproaches Russia for lack of 'openness'
2018-03-01 17:33:27 German Minister of Energy and Economics Brigitte Zypries used her appearance at the Russia Conference to criticise Russia for its economic conduct and to reaffirm the German government’s stance towards sanction relief, in Berlin on Thursday. Speaking to a packed hall of representatives of middle- and big-size businesses of both Russia and Germany, Zypries stated that sanctions can only be lifted if Russia reaches progress in the Minsk agreement, while complaining about what she said is “protectionist” economic politics by Russia referring to import substitution and the country’s efforts to ‘diversify’ its economy. “We say that the relationship [between Germany and Russia] has blurred   Read More ...
With Eye on BMW Alliance, Daimler to Buy Partner’s Stake in Car2Go
2018-03-01 13:08:56 The German carmaker Daimler is set to buy Europcar’s 25 percent stake in the car-sharing service Car2Go for 70 million euros, paving the way for Mercedes and BMW to develop driverless taxis, the two companies announced on Thursday. Daimler, the owner of the Mercedes brand, and BMW, Germany’s two biggest luxury carmakers, are already in discussions to combine their car-sharing services Car2Go and DriveNow   Read More ...
Germany would not oppose suitable French candidate as Airbus CEO: minister
2018-03-01 12:30:32 BERLIN: The German government would not oppose a suitable French candidate to replace Tom Enders as chief executive of European planemaker Airbus when his term expires in 2019, German Economics Minister Brigitte Zypries said on Thursday. Zypries told reporters it would be difficult for Germany, which holds a stake in the company, to block a French candidate after years of having Enders, a German citizen, at the helm   Read More ...
Germany signs Expo contract
2018-02-28 18:17:57 DUBAI Germany has pledged to spend €50 million (Dh226 million) to build and run one of the largest national pavilions at Dubai Expo 2020 after signing its participation contract on Wednesday. The budget also covers an allocation for cultural events throughout the duration of the Expo and takedown of the pavilion after the Expo ends. Under rules laid down by the Bureau International des Expositions (BIE), the World Expo governing body, national pavilions must be handed back as bare plots, and do not form part of Expo 2020 Dubai’s legacy plans   Read More ...
Start-ups in Italy | DW English
2018-02-28 12:10:09 Conditions in Italy for start-ups may not be so great, but some innovative firms are thriving. We meet two entrepreneurs in Milan. There is concern about the general election in March. What will the economic policies of the next government look like? This may also interest you: http://p.dw.com/p/2mzj9.   Read More ...
Germany to consider tightening markets disclosure rules: Economy Ministry
2018-02-28 09:01:12 BERLIN: The German government will investigate whether rules governing when an investor needs to disclose a holding in a company should be tightened, according to an Economy Ministry report seen by Reuters. Chinese Geely revealed it had built up a 9.7 percent stake in carmaker Daimler on Friday, surprising the market as it had not disclosed that it had crossed regulatory thresholds of 3 and 5 percent   Read More ...
No sign of violations in Geely purchase of Daimler stake: Merkel
2018-02-27 15:01:24 BERLIN: Germany is open towards its trading partners and at a first look, there are no obvious violations linked to Geely's acquisition of a US$9 billion stake in Daimler , Chancellor Angela Merkel said on Tuesday. "We are open to our trading partners and at a first look there are no violations in this regard," she told reporters. She added that there were questions about possible holes in transparency around disclosure requirements but that was a matter for BaFin financial sector regulator   Read More ...
German court rules in favor of city bans on diesel cars
2018-02-27 13:01:15 LEIPZIG, Germany: A top German court ruled on Tuesday in favor of allowing major cities to ban heavily polluting diesel cars, a move likely to hit the value of 12 million vehicles in Europe's largest car market and force carmakers to pay for costly modifications. There has been a global backlash against diesel-engine cars since Volkswagen admitted in 2015 to cheating U   Read More ...
Germany ‘watchful’ of Chinese investment in Daimler
2018-02-26 15:44:05 , Frankfurt am Main, Germany will be “especially watchful” over a new major investor in Mercedes-Benz maker Daimler, a minister said Monday, in the latest sign of European disquiet over Chinese influence over business. “We must keep an especially watchful eye” on auto billionaire Li Shufu’s investment, Economy Minister Brigitte Zypries told the Stuttgarter Zeitung. Daimler confirmed Friday that Li bought a 9   Read More ...
Norwegian wealth fund wants to invest in German Mittelstand: Focus
2018-02-24 18:08:40 FRANKFURT (Reuters) - Norway’s $1 trillion sovereign wealth fund, the world’s biggest, wants to invest in German medium-sized private companies if the Norwegian government allows it to do so this year, its head Yngve Slyngstad told German magazine Focus. The Norwegian fund is seeking permission to broaden its investments to include unlisted companies, and has in the past lamented its inability to make early investments in fast-growing companies such as Uber [UBER   Read More ...
Brexit: Britain's largest house builder considers relocating block building operations from Germany to UK
2018-02-22 12:10:41 Britain’s largest house builder is considering relocating its construction block manufacturing operations from Germany to the UK to mitigate the possible impact of Brexit. Barratt Developments said that 90 per cent of its large format blocks used in residential projects are sourced from the UK but the remainder are imported from abroad – potentially leaving it vulnerable to a shortfall in materials post-Brexit   Read More ...