Financial Insights That Matter The logo of the German arms manufacturers company Rheinmetall can be seen on a Bundeswehr vehicle at the NATO exercise Quadriga 2024. Kay Nietfeld/dpa A boom in the global defence industry again brought significant growth for German armaments maker Rheinmetall in the first quarter. According to preliminary calculations, revenue is expected […]
Financial Insights That Matter Germany’s incoming finance minister Lars Klingbeil is a self-styled political “bridge-builder” whose calm and personable demeanour belies his sharp political instincts. Despite the bruising election loss of his centre-left Social Democrats (SPD), he will control the purse strings of Europe’s top economy under conservative chancellor-in-waiting Friedrich Merz. Klingbeil — who studied […]
Financial Insights That Matter A coalition deal between the SPD and Merz’s conservative bloc was finalized Wednesday after two weeks of voting by SPD party members, 84 percent of which agreed to join the new government. Klingbeil, 47, will serve as Merz’s deputy in a grand coalition between the CDU, its Bavarian counterpart Christian Social […]
Financial Insights That Matter Germany’s benchmark stock index, the DAX, rose for the sixth consecutive trading day on Tuesday, poised to recover all losses in early April. The rally reflected global market trends as the Trump administration introduced further amendments to its tariff policy, easing concerns over a possible recession. On Tuesday, US President Donald […]
Financial Insights That Matter Revolut will announce on Wednesday that it will launch monthly mobile phone plans, hoping to disrupt the established telecoms market in the EU. The British-based fintech told Euronews that the plans will first be launched in the UK and Germany this year, with more markets to follow. Customers will have access […]
Financial Insights That Matter DUESSELDORF, Germany (Reuters) -DHL Express, a division of Germany’s Deutsche Post (DHL.DE), will resume global business-to-consumer shipments worth over $800 to individuals in the United States after a “constructive dialogue” with U.S. authorities, DHL said on Monday. DHL blamed the halt it implemented on April 21 on new U.S. customs rules […]
Financial Insights That Matter By Elvira Pollina and Klaus Lauer MILAN/BERLIN (Reuters) -Shares in ProSiebenSat.1 fell sharply after the TV group controlled by Italy’s Berlusconi family made a low-ball bid to other investors in the German media group as part of a plan to strengthen its grip on the company. The take-up for the bid, […]
Financial Insights That Matter Purchase price of $47 per share in cash represents an enterprise value of €3.0 billion ($3.4 billion), or an equity value of approximately $3.9 billion Planned acquisition will immediately add revenue and accelerate mid- to long-term growth for the Healthcare business of Merck KGaA, Darmstadt, Germany SpringWorks Therapeutics is a U.S. […]
Financial Insights That Matter Arne Dedert / picture alliance via Getty Images German drug company Merck KGaA said Monday it has struck a deal to buy U.S. biotech firm SpringWorks Therapeutics for around $3.9 billion, expanding its portfolio of rare disease and cancer treatments. Merck said it would offer $47 a share in cash for […]
Financial Insights That Matter By Ludwig Burger FRANKFURT (REUTERS) -German healthcare and materials group Merck KGaA has struck a deal, it said on Monday, to acquire U.S. biotech company SpringWorks Therapeutics for an equity value of $3.9 billion to boost its cancer drug business. The company based in Darmstadt, Germany, said the purchase price of […]