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Europe News Germany

  • Global financial turmoil prompted the Bank of Japan to hold rates on Thursday and warn that the tremors would take time to settle, and the European Central Bank was inundated with demand at a new money market tender.

  • Deutsche Bahn is in a good position to sell a stake in the state-run rail operator in a public stock offering, its chief executive said Thursday.

  • Germany posted a public sector budget surplus in the first six months of 2007, the first time it has achieved this in the January-June period in nearly two decades, the Federal Statistics Office said on Thursday.

  • The pace of growth in Europe's biggest economy slowed from the first quarter to the second quarter, the German government said Thursday as it issued its final numbers on growth for the country of 82 million people.

  • ProSiebenSat.1 Media said second-quarter operating profit rose 6% to 140.4 million euros ($189.54 million) as it cut costs but revenues remained flat.

  • A global credit crunch pushed German investor morale to its lowest level in eight months in August, raising pressure on the European Central Bank (ECB) to keep interest rates on hold for the time being.

  • German banks face a critical situation because foreign banks are reluctant to lend to them after the joint rescue of small-company lender IKB, state-backed lender WestLB's chief executive said.

  • German producer price inflation dropped last month to its lowest level since early 2004, pushed down by falling energy prices, according to government figures released Friday.

  • French President Nicolas Sarkozy has written a letter to German Chancellor Angela Merkel, saying that authorities must be "very vigilant" over financial market corrections, according to the letter published on Thursday.

  • Consumer prices in Germany rose 0.4% in July from June and were up 1.9% from a year earlier, according to final figures from the Federal Statistics Office.

  • Deutsche Telekom will cut more jobs when a self-imposed moratorium expires at the end of 2008, the company said Wednesday.

  • German economic growth cooled slightly in the second quarter, with gross domestic product expanding by 0.3%, according to government figures released Tuesday.

  • Dutch chemicals group Akzo Nobel has agreed a deal to buy Britain's ICI for 8 billion pounds ($16.2 billion) to boost its position as the world's biggest industrial coatings maker.

  • Between the shelves of product catalogues on the wall of a spartan office in an eastern German lighting factory sits a framed quotation, in bold black lettering on silver paper, from Winston Churchill.

  • German pay-TV broadcaster Premiere said Monday that its long-serving chief executive, Georg Kofler, is stepping down.

  • Internal investigators have uncovered more than 1 billion euros ($1.4 billion) of dubious payments at Siemens' telecoms and turbines divisions, far more than previously thought, the Sueddeutsche Zeitung said.

  • German charter airline LTU said Saturday it reached a new wage agreement with its pilots, averting the threat of a strike.

  • Steelmaker ThyssenKrupp on Friday  reported a 62% increase in net profit in its fiscal third quarter as rising demand for steel lifted its sales.

  • German utility RWE said Thursday that its first-half net profit rose by 58% amid high power prices in Germany and elsewhere in Europe, and raised its full-year earnings forecast.

  • Commerzbank, Germany's second-largest bank, said Thursday that its second-quarter profit doubled on gains from the sale of its asset management business Jupiter.