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  • BERLIN/ FRANKFURT, June 30- When Herbert Diess takes over on Wednesday as head of Volkswagen's namesake car brand, he will inherit one of the group's biggest problems: how to slash costs at the sprawling Wolfsburg complex. Diess summarized his views on Wolfsburg in a scathing internal report, telling superiors the plant's workforce of 50,000 is bloated with...

  • BERLIN, June 30- Germanwings is offering 25,000 euros compensation payments to close relatives of those killed in the March 24 plane crash for their pain and suffering, it said on Tuesday. Evidence shows co-pilot Andreas Lubitz locked the captain out of the cockpit of Germanwings flight 4 U9525 from Barcelona to Duesseldorf and deliberately steered the plane...

  • BRUSSELS/ PARIS, June 30- Euro zone governments are hammering home a series of coordinated messages to Greece in hopes of persuading voters to disavow Prime Minister Alexis Tsipras and vote "yes" to a debt deal with creditors on Sunday, EU officials and diplomats say. Yet in doing so, European Commission President Jean-Claude Juncker, German Chancellor Angela...

  • BERLIN, June 30- Germanwings is offering 25,000 euros compensation payments to close relatives of those killed in the March 24 plane crash for their pain and suffering, it said on Tuesday. Evidence shows co-pilot Andreas Lubitz locked the captain out of the cockpit of Germanwings flight 4 U9525 from Barcelona to Duesseldorf and deliberately steered the plane...

  • BERLIN— Report: Germany's Merkel rules out negotiations with Greece on new plans before referendum.

  • *Capital controls prevent transfers of cash out of Greece. LONDON, June 30- Monday was the day the music died for thousands of song downloaders and music streamers in Greece. Transfers of funds out of Greece were banned to prevent a collapse of the banking system after Prime Minister Alexis Tsipras rejected the terms of a bailout offer from international lenders.

  • Lufthansa, which owns Germanwings, is offering 25,000 euros in compensation per victim in all cases that fall under German law, plus payments of 10,000 euros each to immediate relatives. The airline said it also plans to set aside up to 7.8 million euros to support education for children who lost one or both parents, plus a 6 million euro fund that would provide "...

  • *Iraq exports hit record despite Baghdad, KRG tension. LONDON, June 30- OPEC oil supply in June has climbed to a three-year high due to record or near-record output from Iraq and Saudi Arabia, a Reuters survey found, underlining the focus of the group's top exporters on market share. OPEC supply has risen in June to 31.60 million bpd from a revised 31.30 million bpd in...

  • *Greece hours away from default, deal on Tuesday seen unlikely. LONDON, June 30- European shares fell again on Tuesday after a German government official said it was too late to consider an extension of Greece's bailout programme and Greece's finance minister said it will not pay a debt installment to the IMF due on Tuesday. Greek Finance Minister Yanis...

  • ATHENS, June 30- An opposition lawmaker in Greece touched a nerve on Tuesday when he told parliament the left-wing government had a team preparing the ground for a return to the drachma, a prospect many Greeks fear would bring chaos. But there are a growing number of warnings from Greece's European partners that a' No' vote in a referendum on Sunday on the terms of a...

  • *Brent seen rising to $70.80 in 2016, $75.90 in 2017. June 30- Oil prices are likely to be stable for the rest of this year and climb in 2016 and 2017 as global demand picks up, shrugging off setbacks from the Greek debt crisis and the possible lifting of sanctions on Iran, a Reuters poll forecast on Tuesday. "Oversupply will ease gradually in the second half of this year,...

  • BERLIN— German unemployment dropped again in June as the labor market in Europe's largest economy remained robust. The Federal Labor Agency said Tuesday that the unemployment rate dropped to 6.2 percent in June from 6.3 percent in May. Unemployment was lowest in the southern state of Bavaria at 3.4 percent, and highest in the city-state of Bremen at 10.9...

  • *Brent seen rising to $70.80 in 2016, $75.90 in 2017. June 30- Oil prices are likely to be stable for the rest of this year and climb in 2016 and 2017 as global demand picks up, shrugging off setbacks from the Greek debt crisis and the possible lifting of sanctions on Iran, a Reuters poll forecast on Tuesday. "Oversupply will ease gradually in the second half of this year,...

  • Turkish prime minister says his country is ready to help Greece overcome its economic crisis and is offering to expand cooperation in areas such as tourism, energy and trade. Ahmet Davutoglu said Turkey wants to live "in peace," and has no interest in seeing Greece "languish." Turkey and Greece have been long-time foes but the two countries have sought to build...

  • ATHENS, Greece— Greece is set to become the first developed nation to not pay its debts to the International Monetary Fund on time, as the country sinks deeper into a financial emergency that has forced it put a nationwide lockdown on money withdrawals. Greece owes the IMF about 1.6 billion euros by the end of Tuesday but has run out of money and after five months of...

  • LONDON- Reserve Bank of Australia Governor Glenn Stevens speaks at an event hosted by Official Monetary and Financial Institutions Forum- 0840 GMT. LONDON- Bank of England's Paul Fisher speaks at the Financial Times Future of Insurance event- 0840 GMT. VIENNA- European Central Bank Governing Council member Ewald Nowotny to give a keynote speech at "Raiffeisen...

  • *EU in legal quandary over Greece in the euro zone. Greece's Finance Minister Yanis Varoufakis has said Greece had no intention of quitting and cannot be forced out. The government in Greece, where a majority of people say they want to retain the euro currency and their 35- year-old membership of the European Union, correctly points out that neither the treaty...

  • Sierra Nevada Brewing Co. is putting a little more German influence into its seasonal Oktoberfest brew.

  • The "White Pearl" megayacht is expected to launch in July 2016.

    Russian billionaire Andrey Melnichenko is building what is believed to be the largest sailing yacht ever built, at a length of more than 480 feet.

  • BERLIN— Lufthansa is preparing to make a compensation offer this week to relatives of those who died in the March 24 Germanwings plane crash in the French Alps. French prosecutors believe the plane, operated by the Lufthansa subsidiary Germanwings, was intentionally crashed into a mountain 24 by co-pilot Andreas Lubitz, killing all 150 people on board.