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Aug 6, 2015

Adidas considers giving up golf as cycling booms

LONDON/MUNICH (Reuters) – German sportswear company Adidas has appointed investment bank Guggenheim Partners to help with the possible sale of its golf brands, which are struggling as the sport loses popularity, particularly in the United States.

Adidas made the announcement on Thursday as deteriorating golf sales overshadowed otherwise strong second-quarter results, boosted by double-digit sales growth in both western Europe and China, which it expects to continue for the rest of the year.

Aug 6, 2015

Adidas considers giving up golf

LONDON/MUNICH (Reuters) – German sportswear company Adidas (ADSGn.DE: Quote, Profile, Research, Stock Buzz) has appointed investment bank Guggenheim Partners to help with the possible sale of its golf brands, which are struggling as the sport loses popularity, particularly in its biggest market, the United States.

Adidas made the announcement on Thursday as deteriorating golf sales overshadowed otherwise strong second-quarter results, boosted by double-digit sales growth in both western Europe and China, which it expects to continue for the rest of the year.

Jul 29, 2015

ProSieben and Axel Springer say have no plans for tie-up

BERLIN/MUNICH, July 29 (Reuters) – German broadcaster
ProSiebenSat.1 and publisher Axel Springer
said they have no further tie-up plans beyond a project for
digital start-ups they announced on Wednesday.

Sources told Reuters earlier this month that the two
companies had revived talks over a merger, seeking to
consolidate their push into digital media, a decade after such a
deal was derailed by regulatory hurdles.

Jul 6, 2015

ProSieben and Axel Springer in early merger talks – source

MUNICH, July 6 (Reuters) – German commercial broadcaster
ProSiebenSat.1 and German publishing house Axel
Springer are in early-stage merger talks, a source
familiar with the matter said on Monday.

The news of the merger talks was first reported by the Wall
Street Journal, which cited sources saying the two companies
were considering a deal in which ProSieben would be the senior
partner.

Jun 29, 2015

Hahn sure to drive a hard bargain in quest for Formula One

MUNICH/FRANKFURT, June 29 (Reuters) – The combative German media magnate poised for another high-octane move against Formula One motor racing impresario Bernie Ecclestone is no stranger to conflict and is used to getting his own way.

Though a bribery case brought against Ecclestone by Dieter Hahn’s Constantin Medien was dismissed last year, Hahn is now working with a consortium on a bid to buy a controlling stake in Formula One in a potential $8 billion deal, a source told Reuters last week.

Jun 19, 2015

Greek debt crisis a small chink in tourists’ confidence

LONDON/MUNICH (Reuters) – An escalating debt crisis that may force Greece’s banks to shut next week has only slightly dented tourists’ appetite for island holidays in the country, with advance demand for package tours still robust, travel operators said this week.

Europeans make up the lion’s share of visitors to Greece, with Britons and Germans accounting for 20 percent last year. German and Swiss tour operators on Friday reported rising bookings for Greek holidays, and British holiday companies said they had mostly seen no drop-off.

May 8, 2015

Austria’s Heta must pay BayernLB 2.4 billion euro – Munich court

MUNICH (Reuters) – A Munich court ordered Austrian “bad bank” Heta to repay loans to BayernLB [BAYLB.UL] in a surprise ruling on Friday that hands the German state-controlled lender a partial victory in its efforts to recoup 2.4 billion euros (£1.7 billion).

Presiding Judge Gesa Lutz told Heta, the vehicle set up to wind down the remnants of former BayernLB unit Hypo Alpe Adria, to pay BayernLB 1.03 billion euros and 1.29 billion Swiss francs (£900 million) plus interest.

May 8, 2015

Austria’s Heta must pay BayernLB $2.5 bln – Munich court

MUNICH, May 8 (Reuters) – A Munich court ordered Austrian
“bad bank” Heta to repay loans to BayernLB in a
surprise ruling on Friday that hands the German state-controlled
lender a partial victory in its efforts to recoup 2.4 billion
euros ($2.7 billion).

Presiding Judge Gesa Lutz told Heta, the vehicle set up to
wind down the remnants of former BayernLB unit Hypo Alpe Adria,
to pay BayernLB 1.03 billion euros ($1.15 billion) and 1.29
billion Swiss francs ($1.39 billion) plus interest.

May 5, 2015

Prosecutor adds ex-Deutsche Bank operations chief to Kirch probe

MUNICH, May 5 (Reuters) – German prosecutors have widened an
investigation of Deutsche Bank executives over the
2002 collapse of the Kirch media empire to include the bank’s
former chief operating officer Hermann-Josef Lamberti, a Munich
judge said on Tuesday.

Adding Lamberti, who left Deutsche Bank in 2012, raises to
nine the number of bank executives past and present to be
investigated in the 13-year-old saga.

Mar 2, 2015

Deutsche Bank co-CEO Fitschen faces trial over Kirch case

MUNICH/FRANKFURT (Reuters) – Deutsche Bank co-CEO Juergen Fitschen faces a lengthy trial connected to the Kirch bankruptcy after a court agreed to hear the case in a blow to one of Germany’s most powerful bankers and a setback for its largest bank.

The Munich district court on Monday decided to let the prosecution proceed with a trial of Fitschen and four former executives at the bank following months of deliberation.