Business News Berlin

  • SINTRA, Portugal, June 19- Mario Draghi is seeing out the final weeks of his tenure in charge of the European Central Bank, but his overt hint of more stimulus to come could mean his influence is felt on ECB policy long after he has left the bank's Frankfurt home. Fresh stimulus would protect the Draghi legacy at least for some time if a hawk like Germany's Jens...

  • *Germany, with its powerful car sector, had been hesitant. BRUSSELS/ BERLIN, June 17- Germany has joined a growing number of EU nations to back going carbon neutral by mid-century, EU documents show, building momentum for the bloc's leaders to agree the ambitious climate goal at a summit this week. Despite a push by eight nations for greater climate ambition- Belgium,...

  • PARIS, June 17- Spain on Monday joined a Franco-German project to build a next-generation fighter jet, an initiative touted as key to ensuring Europe can defend itself without depending on allies in an increasingly uncertain world. The defence ministers of France, Germany and Spain signed an accord launching a trilateral framework of cooperation at the Paris...

  • The defense ministers of France, Germany and Spain signed an accord launching a trilateral framework of cooperation at the Paris Airshow, sat in front of a mock-up of the jet and with French President Emmanuel Macron applauding behind them. Dassault and Airbus have delivered a joint industrial proposal to the governments of France and Germany.

  • BERLIN, June 12- The Federal Reserve remains independent from political interference, a senior U.S. Treasury official told a sceptical Berlin audience on Wednesday, a day after President Donald Trump renewed criticism of the bank's policy stance. Deputy Secretary of Treasury Justin Muzinich said there was no indication of tensions between the Fed and the...

  • BERLIN, June 12- The Federal Reserve remains independent from political interference, a senior U.S. Treasury official told a skeptical Berlin audience on Wednesday, a day after President Donald Trump renewed criticism of the bank's policy stance. Deputy Secretary of Treasury Justin Muzinich said there was no indication of tensions between the Fed and the...

  • *Tech stocks rise on hopes of U.S.- China trade thaw. June 7- European stocks posted their best weekly performance since early April on Friday, aided by strong gains in Paris, against a backdrop of hope among investors that central banks would support global growth with more accommodative policies. The Bundesbank slashed its growth projections for Germany and...

  • *Party proposes coalition talks in Bremen with SPD, Linke. BERLIN, June 6- Germany's opposition Greens hit record highs in two opinion polls on Thursday, topping one to confirm growing disillusionment with the fragile ruling coalition as they angle for a central role in the government of a northern state. The Greens, buoyed amid growing concern across Europe...

  • June 6- Euro zone shares underperformed their broader European peers on Thursday, hit by a stronger euro after the European Central Bank matched investors' expectations in keeping rates untouched but refrained from providing as dovish an outlook as hoped. Germany's DAX shed 0.2%, while French stocks fell 0.3%. London- traded equities eked out a gain.

  • *Springer's Stepstone unit has complained to European Commission. *Berlin publisher in talks with KKR to take company private. BERLIN/ FRANKFURT, June 6- A leading German jobs portal hit out on Thursday at Google's launch of its own job-search product in Europe's largest economy, saying the U.S. company had abused its dominant position to grab an overnight market...

  • *Greens propose coalition talks in Bremen with SPD, Linke. BERLIN, June 6- Germany's Greens have proposed holding coalition talks in the city state of Bremen with the Social Democrats and far-left Linke, in a reminder to Chancellor Angela Merkel's conservatives that even if they come first in any elections, they are not guaranteed power. While Bremen is a tiny...

  • June 6- European shares rose more than half a percent on Thursday, bolstered by expectations of stimulus from the European Central Bank and a rise for Fiat-Chrysler shares after the shock collapse of its merger with Renault-Nissan. The pan-European STOXX 600 index rose 0.6% by 0816 GMT, with bank-heavy indexes in Milan and Madrid both up nearly 1% on the...

  • BERLIN, June 4- German Finance Minister Olaf Scholz on Tuesday poured cold water on calls by the powerful BDI industry lobby group for massive corporate tax cuts, saying that Berlin would not enter a race to the bottom to match similar steps in the United States. "The United States will not be able to afford its high level of public debt in the long term," Scholz told the...

  • BERLIN, May 29- German builders completed nearly 285,900 new dwellings last year, the highest number in 16 years, data showed on Wednesday, but construction still fell short of expectations and may not ease a drastic shortage of affordable housing. With demand outstripping supply in many urban areas, property prices and rents have soared in major cities such as...

  • ZURICH, May 29- The Swiss government proposed on Wednesday allowing grey market imports as a way to help cut high domestic prices for hard-pressed consumers who often pay far more than in neighbouring Germany or France for the same products. The issue has gained prominence due to a campaign for a binding voter referendum to ensure fair prices in Switzerland,...

  • BRUSSELS, May 27- The results of the European parliamentary election are likely to lead to less ambitious euro zone integration plans and set Italy up for more clashes with the European Commission over its fiscal policy, euro zone officials said on Monday. French President Emmanuel Macron was the champion of a large euro zone budget, financed from dedicated...

  • *CEO speaking at annual general meeting. FRANKFURT, May 23- Deutsche Bank's chief executive promised shareholders "tough cutbacks" at its underperforming investment bank on Thursday as he battled to convince them he can turn around Germany's biggest lender, whose shares hit a record low. Although Deutsche Bank posted its first profit in four years in 2018, it...

  • PARIS, May 21- Total said on Tuesday it had curbed output at its German refinery at Leuna due to continuing problems with contaminated Russian crude oil supply, while Germany's oil industry's lobby said national supply security was not at risk. Russia's oil export flows have been disrupted since April when high levels of organic chloride were found in crude...

  • BERLIN, May 21- Germany will pass a draft law on Wednesday to support corporate research and development with annual incentives of 1.25 billion euros, officials said on Tuesday, in an effort to boost cutting-edge technologies in Europe's largest economy. Germany's private sector, which is highly dependent on the large, export-oriented car industry, is at risk...

  • WASHINGTON/ BEIJING, May 17- China struck a more aggressive tone in its trade war with the United States on Friday, suggesting a resumption of talks between the world's two largest economies would be meaningless unless Washington changed course. The tough talk capped a week that saw Beijing unveil fresh retaliatory tariffs, U.S. officials accuse China of...