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Finance

Steinbrueck: Germany Doing Enough for EU in Recession

German Finance Minister Peer Steinbrueck

Germany is already doing its share and would not spend more money to help lift the European Union out of recession, the country's finance minister Peer Steinbrueck said Monday. »

 

Finance

Bayern LB Slashing 5,600 Jobs After Requesting Bailout

Woman walking out of revolving doors at the BayernLB bank

Bayern LB, one of Germany's state-owned banks, plans to slash cut more than a quarter of its workforce, eliminating 5,600 out of 19,000 jobs before 2013, the bank said. »

 

Finance

Recession Threatens in 2009 if Stimulus Fails, UN Report Says

Graphic of world map with line graph imposed atop

UN economists warned that the world economy will enter a deep recession if numerous stimulus packages being worked out by individual nations fail to improve the credit crunch and restore consumer confidence soon. »

 

Auto Industry

Faced with Finance Crisis, German Auto Firms Cut Production

Daimler factory in Sindelfingen, Germany

As the global finance crisis ravages the auto industry, German carmakers and car parts manufacturers are forcing their employees not only to take extended holiday breaks but also to work fewer hours.  »

 

Asia

German Firms Big on Investing in Emerging Vietnam

Vietnamese woman in fishing boat

More than 30 years after the end of the Vietnam War, the economy has become one of fastest growing in Asia and has attracted German investors, who regard its young population as the next "Asian Prussians."  »

 

Business

Falling European Inflation to Pave Way for Rate Cuts

People walking on a road of euro bank notes towards a giant euro coin

Inflation in the 15-member euro zone slipped to below three percent for the first time in more than 12 months in November, data to be released Friday is forecast to show, paving the way for a hefty rate cut next week. »

 

Business

Commerzbank to Speed Up Dresdner Bank Takeover

The logos of Commerzbank (left) and Dresdner Bank seen on their Frankfurt headquarters

German bank Commerzbank announced late Thursday that it would accelerate its planned takeover of Dresdner Bank from the current parent, insurance group Allianz, at barely half the earlier price. »

 

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