Financial Insights That Matter FRANKFURT (Reuters) – Germany is particularly vulnerable to US trade tariffs, which could curb growth for years to come and hold back an economy already suffering through two straight years of contraction, Bundesbank President Joachim Nagel said on Monday. Germany, Europe’s largest economy, has been in a deep industrial recession, due […]
Financial Insights That Matter (Bloomberg) — Two years ago, Thyssenkrupp AG, the nation’s biggest steelmaker, was awarded €2 billion ($2.1 billion) in subsidies to help pay for a hydrogen furnace. It was the biggest-ever commitment of its kind, and a high point in Germany’s planned transition to clean fuel. Most Read from Bloomberg Yet plans […]
Financial Insights That Matter FRANKFURT, Germany (AP) — Germany hasn’t seen significant economic growth in five years. It’s a stunning turnaround for Europe’s biggest economy, which for much of this century had expanded exports and dominated world trade in engineered products like industrial machinery and luxury cars. So what happened? Here are five reasons for […]
Financial Insights That Matter BERLIN (Reuters) -Volkswagen wants to achieve the majority of its billion-euro savings drive through pay cuts, Handelsblatt reported on Tuesday, citing a management board document. A proposed 10% cut to salaries at the core brand alone would bring in almost 800 million euros ($864 million) annually, Handelsblatt cited the document as […]
Financial Insights That Matter – Completion of Acquisition (Subsidiarization) of SH HoldCo GmbH Shares – TOKYO, Feb. 14, 2025 /PRNewswire/ — NIPPON EXPRESS HOLDINGS, INC. is pleased to announce that the agreement concluded on September 30, 2024for the acquisition of entire shares in SH HoldCo GmbH, the parent company of the Germany-based Simon Hegele Group, […]
Financial Insights That Matter German lender Commerzbank has announced plans to axe 3,900 full-time equivalent (FTE) positions by 2028, primarily within Germany. The move is part of the bank’s strategic revamp amid a hostile buyout bid by Italy’s UniCredit. However, Commerzbank will also make hires outside Germany, which will keep the FTE roles constant at […]
Financial Insights That Matter The company logo lights up on the Commerzbank headquarters at sunset. Arne Dedert/dpa Germany’s Commerzbank is considering slashing thousands of jobs as the bank battles to fend off a takeover bid from Italian banking giant UniCredit, according to multiple media reports. A Commerzbank spokeswoman declined to comment on the reports, but […]
Financial Insights That Matter By Tom Sims and Patricia Weiss FRANKFURT (Reuters) -Commerzbank said on Thursday it would cut 3,900 jobs and unveiled more ambitious financial targets as part of a strategy revamp designed to head off UniCredit’s advances for a tie-up between the German and Italian lenders. The job cuts, mainly in Germany and […]
Financial Insights That Matter Commerzbank has been seeking to fight off UniCredit’s advances (MARCO BERTORELLO) German lender Commerzbank said Thursday it plans to cut about 3,900 jobs, around 10 percent of its workforce, seeking to fight off pressure for a tie-up from Italian bank UniCredit. The bank also hiked its financial targets, as executives aim […]
Financial Insights That Matter Apple (NASDAQ:AAPL) has been notified by Germany’s antitrust authoritythe Bundeskartellamt, regarding potential violations tied to its App Tracking Transparency Framework (ATTF). The regulator raised concerns that Apple’s rules impose stricter requirements on third-party apps than on its own services, which may constitute self-preferencing under German competition law. Since ATTF’s launch in […]