The German government is trying to block the sale of shares in grid operator 50Hertz to a Chinese company by convincing Belgian shareholder Elia to exercise its option to acquire the 20-percent stake up for sale, Handelsblatt reported.
BMW paid $2.2 million to settle a US complaint that it had failed to refund lease payments to military personnel when they were called to duty. Most of the money will go to the leasing customers. (Reuters)
The houses and offices searched by Munich prosecutors as part of the diesel emission cheating scandal belonged to former Audi management board member Ulrich Hackenberg and former development head Stefan Knirsch. (WirtschaftsWoche)
Munich’s Dero Bank was pushed into insolvency protection by Germany’s financial services regulator, Bafin. The bank specializes in issuing shares and bonds for small- and mid-sized companies. (WirtschaftsWoche)
On Thursday evening, Germany’s lower house of parliament will mull changing a law that bans doctors from advertising abortions, after a physician was fined €6,000 for including the service on her website.
Some 24,000 cases of flu were registered this week by the Robert Koch Institut, a season record. So far this year, 82,000 people in Germany have caught the illness, leading to 136 deaths. (Tagesschau)
A court won’t rule on the legality of urban driving bans for diesel cars until Feb. 27. Germany’s federal administrative court had been expected to rule Thursday on the practice, which would protect city air quality.
Seven German publishers including Burda, Axel Springer, Gruner + Jahr and Spiegel Verlag are creating an “advertisement sales coalition” to counter Google and Facebook, which bring in an annual €5 billion in ads in Germany.
In a speech to the German parliament, Chancellor Angela Merkel labeled recent Syrian government attacks on its people a “massacre,” adding she would contact Russian officials to seek a solution to end the violence.
A food charity in Essen is no longer accepting non-Germans as members because foreigners account for 75% of its ranks, up from 35% in 2015. The charity, Essener Tafel, fears needy Germans are being elbowed out. (Westdeutsche Allgemeine Zeitung)
In an interview, Foreign Minister Sigmar Gabriel said he wouldn’t fight for his post in Germany’s proposed “grand coalition” and declined to comment on reports he might take a private-sector job. (Braunschweiger Zeitung)
Last year, Germany approved arms sales worth €1.3 billion to the nine countries involved in the Yemen civil war, a 9% increase over 2016. Berlin’s likely next administration promised to halt sales to those countries.
ProSiebenSat.1, Germany’s biggest private broadcaster, sold 25.1% of its e-commerce unit to financial investor General Atlantic in a deal valuing the division at €1.8 billion. The pair wants to turbocharge the unit’s growth.
Deutsche Telekom’s adjusted ebitda grew a mere 3.8% to €22.2 billion last year, as its vibrant T-Mobile US unit offset its sluggish German business and T-Systems, its troubled corporate computer services unit.
Deutsche Bank CEO John Cryan said his bank is moving institutional equity investors to its Frankfurt offices in preparation for a hard Brexit, but would prefer the UK gradually secede from the EU.
Workers at E.ON-run nuclear power plants in Grohnde, Unterweser and Stade will strike Monday due to stalled wage talks. The company has offered a 2.2% raise over 18 months, while unions want 5.5% over 12 months.
Germany is the 12th least corrupt country in the world, according to Transparency International’s annual Corruption Perceptions Index. Somalia is the most corrupt of 180 nations and New Zealand the least.
Munich prosecutors said they had searched the homes and offices of two former, unnamed Audi executives in connection with the carmaker’s emissions cheating software on diesel vehicles.
A US congressman wants to question Volkswagen executives and probe the carmaker for selling vehicles that were rigged against emissions tests despite a $14.7 billion penalty levied by the US against VW. (Bloomberg)
Markus Söder, Bavaria’s finance minister, is accused of ignoring indications Russian criminals working to launder cash were part of a consortium that bought 32,000 state-owned flats in 2013.
Deutsche Telekom announced that the company’s chief financial officer, Thomas Dannenfeldt, is leaving the company at the end of the year. He will be replaced by Christian Illek, the company’s personnel officer.