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Europe News Germany

  • 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.

  • Deutsche Telekom said Thursday that its second-quarter net profit fell by 40% as it continued to lose customers from its fixed-line unit.

  • DaimlerChrysler still believes it has excess liquidity on hand but has not yet decided what to do with it, a spokesman for the world's fifth-biggest carmaker said on Wednesday.

  • Adidas, Europe's biggest sports goods maker, said on Wednesday its second-quarter net income rose 27% despite nearly flat revenue because of lower brand Reebok sales and currency effects.

  • German airport operator Fraport said Tuesday second-quarter profit dipped nearly 6% largely because of rising costs and the lack of several one-off gains from last year.

  • St Gobain, the world's biggest building materials group, said on Tuesday it would buy clay and mortar company Maxit Group from Germany's HeidelbergCement in a deal worth around $3 billion.

  • BMW, the world's biggest producer of luxury automobiles, said Tuesday that sales rose in July, as well as in the January-July period, on continued demand for its BMW, Mini and Rolls-Royce brands.

  • Bayer, which raised its profit guidance in June, posted a 30% rise in quarterly operating profit on Tuesday, driven by strong sales of its cancer and contraceptive drugs.

  • Germany's Munich Re on Monday reported a 2.2% increase in second-quarter net profit, beating expectations as a lower tax rate offset lower premiums, lower capital investment gains and higher claims.

  • Luxury car maker BMW said Wednesday that its second-quarter profit slipped 4.3 percent, hurt by a strong euro, rising materials costs and the costs of launching new models.

  • BASF, one of the world's biggest chemical companies, said Wednesday that its second-quarter profit rose 11.3% as demand and higher prices for its products padded global sales.

  • Deutsche Bank sidestepped the crisis in U.S. sub-prime mortgage lending to deliver the best second-quarter profit in its history on the back of a strong performance from its trading arm.

  • The ranks of the unemployed in Germany ticked nominally higher in July, rising to 8.9% from 8.8% in June, the government said Tuesday, as workers took an expected pause at the peak of the country's vacation season.

  • Truckmaker MAN said Tuesday that improved demand in eastern Europe for its trucks along with lower costs helped its second-quarter earnings more than double as it confirmed its outlook for the rest of 2007.

  • Britain's ICI has rejected an improved 7.8 billion-pound ($15.9 billion) takeover proposal from Dutch rival Akzo Nobel, saying the 85 increase in the offer price is not enough.

  • Volkswagen, the world's fourth largest carmaker, will meet its 2008 pretax profit target of 5.1 billion euros ($7 billion) a year earlier than planned, the company said on Friday.