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Europe News Germany

  • A sharp drop in investment and government spending more than halved quarterly euro zone growth for April to June, but this is unlikely to stop further ECB interest rate rises as analysts expect the economy to pick up.

  • Germany's Deutsche Bank said in a surprise trading update Tuesday that it has suffered some impact from recent credit market problems, but said it hasn't made unsecured loans to hedge funds and that its margin calls are being met. 

  • German media group Bertelsmann, the purveyor of books, CDs and other entertainment, lost 51 million euros ($69.52 million) in the first half of 2006 after costs related to settling copyright claims that arose from its backing of file-sharing service Napster eroded its overall results, it said Tuesday.

  • European stocks closed mixed on Monday in thin trading because of a national holiday in the U.S. and on anticipation of a busy week.

  • Germany's IKB said on Monday it would return to its small-company lending roots, and expects to lose nearly $1 billion this year after its U.S. subprime investments turned sour.

  • European stocks closed in the green on Friday after the two top U.S. economic policymakers said it was not up to the government to rescue bad investments but acknowledged they would intervene to prevent a spillover of the U.S. credit market crisis into the broader economy.

  • Euro zone inflation was stable at the European Central Bank's target for the 12th straight month in August but consumer expectations of inflation jumped and economic sentiment weakened more than expected, data showed.

  • European stocks managed to close in the green Thursday after oscillating between the joy of some good corporate results on the continent and worries about credit market woes.

  • U.S. computer company Apple and German automaker Volkswagen are discussing the possibility of building an "iCar" that would feature products by the producer of the ubiquitous iPod personal music player.

  • The U.S. Justice Department and other authorities have stepped up investigations into several large European banks for violating sanctions against Iran, Libya, Cuba and Sudan, the Financial Times reported in its online edition.

  • European stocks closed mainly in positive territory, helped by a morning rally in the U.S.

  • European stocks closed down on Tuesday, as investors sold shares in banks following more bad news from subprime-affected financials and took their cue later in the afteroon from U.S. markets.

  • German business confidence slipped again in August for the third month in a row amid volatility on global financial markets, a closely watched survey showed Tuesday, but the decline was smaller than expected.

  • Software maker SAP said on Tuesday it has doubled its number of customers in India to 2,000 in the past year, and reaffirmed that it planned to invest $1 billion in the country by 2010 to boost growth.

  • European stocks closed mixed in the afternoon session Monday, after European Central Bank President Jean-Claude Trichet kept the options open for euro-zone rate moves ahead of an ECB monetary policy meeting next week.

  • European Central Bank President Jean-Claude Trichet said on Monday his remarks on August 2 were made before the current market turbulence, leaving the options open on whether the ECB will raise its key interest rate at a meeting next week.

  • European stocks finished the week in the green after stronger-than-expected U.S. durable goods orders and new home sales data on Friday pushed back fears of a spillover of the credit markets crisis to the wider economy.

  • The owners of stricken state lender SachsenLB aim to sell the German bank quickly after its near collapse under heavy losses from U.S. subprime mortgages and other risky debt, sources familiar with the matter said.

  • The European Central Bank is not set on raising rates in September, and its recent reference to its Aug. 2 policy statement was intended to keep options open, national central bank officials have told Reuters.

  • France on Friday kept up the pressure on the European Central Bank to take account of global financial market turmoil and economic growth when setting interest rates, and said a September rate rise was not a done deal.