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Europe Top News and Analysis Germany

  • Germany's KarstadtQuelle, owner of tour operator Thomas Cook, agreed Monday to merge with British package holiday company MyTravel.

  • Currency issues are expected to take center stage this weekend as finance ministers and bankers from the world’s seven richest nations gather for a meeting in Essen, Germany. Weakness in the Yen will likely spark a debate involving Germany, who wants the G-7 nations to prevent hedge funds from having too much influence over currency markets.

  • Germany's Deutsche Bank's profit tripled in the fourth quarter over the same period the previous year, part of a sharp rise in full-year profits, the Frankfurt-based bank said Thursday.

  • Germany's unemployment rate jumped in seasonally unadjusted terms to 10.2% from 9.6% the month before, as some 239,000 more people were out of work, the government labor office said Wednesday.

  • German real wages declined in 2006, rising at a slower rate than inflation, the Federal Statistics Office said Monday.

  • Germany's Porsche forecast it would be able to maintain profits this fiscal year after first-half pretax profit easily beat analyst expectations on Friday.

  • Chancellor Angela Merkel said on Wednesday that Germany would seek to remove exchange rate imbalances, boost hedge fund transparency and launch a new dialogue with emerging powers during its presidency of the Group of Eight (G8) industrialized nations.

  • Germany's leading breweries all posted increased sales for 2006, partially due to an increase in domestic beer consumption credited to a hot summer of partying surrounding the soccer World Cup.

  • Germany's budget deficit dropped more than expected in 2006 to 1.9 % of gross domestic product, Finance Minister Peer Steinbrueck said Friday.

  • German gross domestic product grew 2.5 % in 2006, a significant improvement over the previous year, the Federal Statistics Office reported Thursday.

  • German consumer confidence has fallen back from recent highs as shoppers in Europe's biggest economy worry about the impact of an imminent increase in value-added tax, a survey showed Friday.

  • The project, codenamed "Herkules," foresees the modernization of the administrative information technology system and of communication networks for the German armed forces, the Bundeswehr.

  • IBM and Siemens have been commissioned by the German armed forces to oversee a 7.1 billion-euro ($9.3-billion), 10-year IT modernization project, the two companies confirmed on Thursday.

  • German sporting goods firm Adidas will not enter a bidding war with rival Nike to keep its sponsorship of Germany's national soccer team, Adidas's chief executive told the Sueddeutsche Zeitung.

  • Swedish truck maker Scania -- subject to a hostile takeover offer by German rival MAN --_ will report its full-year results earlier than planned in a move to give shareholders more information on its finances, company officials said Friday.