FRANKFURT (Reuters) – Commerzbank AG (CBKG.DE: Quote, Profile, Research, Stock Buzz) moved to fend off government intervention on Monday, saying it would buy back 600 million euros ($806 million) in cut-price debt in a bid to shore up its capital.
The partly state-owned bank, which received an 18.2 billion euros bailout in the wake of Lehman Brothers’ collapse, is believed to need some 5 billion euros by mid-2012 to meet new capital rules, sources have told Reuters.
FRANKFURT, Dec 5 (Reuters) – Shares of SAP (SAPG.DE: Quote, Profile, Research)
fell on Monday after the German software group announced a $3.4
billion takeover of U.S. web-based services company
SuccessFactors (SFSF.N: Quote, Profile, Research) over the weekend that some analysts say
SAP shares were down 2.1 percent at 43.78 euros by 1028 GMT,
while Germany’s blue-chip DAX index .GDAXI was up 1 percent.
BERLIN (Reuters) – German Chancellor Angela Merkel believes her finance minister’s proposal of national funds in Europe for sovereign debt that is over 60 percent of gross domestic product could help restore confidence in the euro, her spokesman said on Friday.
“The chancellor welcomes the proposal of introducing national redemption funds as very interesting,” Steffen Seibert told a news conference.
BERLIN (Reuters) – German Chancellor Angela Merkel said on Friday clashes between NATO soldiers and Serbs on the border with Kosovo showed Serbia was not yet ready to be a candidate for European Union membership.
“The path of Serbia into the EU can only lead through the normalization of its relations with Kosovo,” Merkel told the German parliament.
BERLIN (Reuters) – Awareness of corruption has risen in some Arab countries in the wake of their uprisings earlier this year, a global league table released by Transparency International showed on Thursday.
North Korea was included in the Berlin-based watchdog TI’s annual corruption perceptions index (CPI) for the first time and was judged the most corrupt country, along with Somalia, putting them at the bottom of the table.
BERLIN, Nov 30 (Reuters) – Lufthansa Cargo,
the freight arm of Germany’s largest airline, stands to lose
about 40 million euros ($53 million) a year if a night-flight
ban in Frankfurt is made permanent, its finance chief said.
“Those are the additional costs for stopovers in Cologne,
cancelled flights and business that we lost because of the ban,”
Peter Gerber told Reuters on the sidelines of an event late on
FRANKFURT, Nov 25 (Reuters) – Manroland, the
world’s third-biggest printing machine maker, filed for
insolvency on Friday, a move that could give top rivals
Heidelberger Druck and Koenig & Bauer more
Bears see Heidelberg’s own troubles being too deep and its
business too far from Manroland’s for it to benefit. Bulls,
however, see Heidelberg achieving better prices and increasing
FRANKFURT, Nov 14 (Reuters) – German construction
group Hochtief revealed it may have to write down the
value of its road contracts in Greece due to mass toll dodging.
The news accompanied a gloomy outlook for 2012 and a warning
that the group might post a loss this year if it fails to sell
its airport business on schedule.
FRANKFURT/BERLIN (Reuters) – German state-controlled development bank KfW will buy a 7.5 percent stake in Airbus parent EADS (EAD.PA: Quote, Profile, Research, Stock Buzz) from Daimler AG (DAIGn.DE: Quote, Profile, Research, Stock Buzz), maintaining a Franco-German balance of influence over the aerospace company.
The agreement on EADS comes after months of negotiations with the German government, during which Daimler urged Berlin to find a solution so it could focus on its core car and truck businesses and reduce the drag on earnings from EADS.
FRANKFURT, Nov 9 (Reuters) – Deutsche Post DHL
raised its 2011 outlook after robust Asian demand helped it beat
expectations for the third quarter, marking a bright spot in an
industry battered by soaring costs and a weakening global
“We are not ignoring the possibility that the economic
environment could get rougher, especially in developed
countries,” Chief Executive Frank Appel said in a statement.