BERLIN, March 27 (Reuters) – Yapital, a cashless payment
company owned by German e-commerce firm Otto, thinks
it has good chance to become Europe’s answer to Pay-Pal as
dozens of competing smartphone applications start to shake up
Licensed in 2011 as an electronic money institution, Yapital
has gone live in thousands of stores in Germany in recent
months, including Rewe, the second-biggest supermarket group,
and on e-commerce websites in Germany, Austria and Luxembourg.
FRANKFURT, March 25 (Reuters) – Technology entrepreneur,
merger manager and turnaround expert, Olaf Koch believes he has
enough experience of big challenges to steer Europe’s
fourth-biggest retailer Metro through its next one: e-commerce.
In so doing, the tall 43-year-old chief executive aims to
return the group to revenue growth and clean up its balance
sheet to improve a credit rating that was cut to just above junk
territory in 2012 at the height of the euro zone debt crisis.
FRANKFURT (Reuters) – German retailer Metro plans to keep investing in its fast-growing Russian business despite the crisis in Ukraine, so long as threatened G7 sanctions do not influence trade flows, its chief executive told Reuters.
German Chancellor Angela Merkel has warned economic sanctions could follow Russia’s annexation of Ukraine’s Crimea region, prompting her country’s main trade body to warn of “catastrophic losses” for more than 6,000 German companies which do business with Russia.
BERLIN, March 20 (Reuters) – German discount supermarket
chain Lidl has removed Karl-Heinz Holland from his position as
chairman, citing “unbridgeable”, but undisclosed, differences
over future strategy.
In an unusually blunt statement, the secretive company said
Holland was leaving after more than five years as chairman, 12
years on the board and a total of 23 years at Lidl, but did not
say who would be replacing him.