Bayer said it will sell more of its crop sciences business to BASF for €1.7 billion to win approval from US antitrust authorities for its takeover of Monsanto.
Defense Minister Ursula von der Leyen declared her preference Thursday for the Eurofighter to replace Germany’s Tornado jet fighters. Lockheed-Martin hopes to get at least some orders for its F-35.
Audi is partnering with Airbus to provide connecting limousine service for the aircraft maker’s helicopter ride-hailing venture, Voom. Audi will join Voom pilot projects in Sao Paulo and Mexico City this summer.
US regulatory approval for Bayer’s acquisition of agro-chemical and seeds company Monsanto is on track for the end of May, according to insiders.
The European Central Bank reaffirmed it will stick with its ultra-low interest rate policy well-beyond the end of bond purchasing, in order to stimulate the economy.
Despite Chancellor Angela Merkel prioritizing trade talks when she meets US President Donald Trump Friday, government insiders expect the US to introduce tariffs on EU steel and aluminum from May 1.
Police collected T-shirts featuring an SS logo and reading “Security Service Aryan Brotherhood” from a Neonazi festival in eastern Germany. The designs could be unlawful.
Germans will pay an average of 40% more for their asparagus this season compared to last year. Every year between April and June, so-called white gold becomes something of an obsession among northern Germans. (The Local)
Look away now if you pay tax in Germany: The country finished second in the OECD’s annual list of highest taxers, with the average single worker paying 49.7% of their hard-earned cash in social security and tax. Only Belgium finished higher.
Deutsche Bank chairman Paul Achleitner receives the highest supervisory board pay in Germany. The Austrian received €800,000 in 2017, according to a study by consultants HKP.
Police officers were invited to join in a bondage session after responding to a complaint of suspected sexual abuse. The participants were “well and in a good mood,” the Neustadt officers reported, but they “politely declined” the offer. (DW)
Chancellor Angela Merkel will lobby US President Donald Trump to not pull out of the Iran nuclear deal when she visits Washington tomorrow, according to sources. (Reuters)
British competition authorities will step up their investigation of German power firm Innogy’s venture with British rival SSE. Initial checks showed the deal could force up electricity prices, the authorities said.
EU budget commissioner Günther Oettinger will next week announce a new credit scheme offering emergency interest-free loans to euro-zone members hit by economic crises. (WirtschaftsWoche)
Demand for workers in Germany stopped growing in April, but still remains very high compared to a year ago, the Federal Employment Agency said.
The German economy will grow by 0.7% in the second quarter, according to the German Institute for Economic Research (DIW). That’s more than the 0.4% growth expected from the first quarter.
RWE boss Rolf Martin Schmitz told shareholders the decision to break up fossil-fuel subsidiary Innogy was in the company’s best strategic and financial interests. The energy firm has agreed an asset-swap deal with rival E.ON.
Lufthansa does not want to take over bankrupt Italian flagcarrier Alitalia unless it undergoes major restructuring, said CFO Ulrik Svensson.
The German-Russian Foreign Chamber of Commerce called on Angela Merkel to lobby US President Donald Trump to exempt German businesses from parts of US sanctions against Russia. The Chancellor visits Washington tomorrow.
Despite selling more vehicles, first quarter operating profits at VW fell 3.6% to €4.2 billion. The carmaker said that without accounting changes the figure would be slightly up.
DWS, the recently floated former asset division of Deutsche Bank, saw adjusted earnings fall to €136 million in the first quarter, down more than a third on the same period last year. It blamed stock market volatility.
The number of building permits granted in Germany was down 2.5% in the first quarter of 2018, following a trend started in 2017. The drop was blamed on a decline in refugee accommodation construction.
Struggling Deutsche Bank posted first quarter net profits of €120 million, down 79% from the same period last year. It also announced cuts to its bond and equities trading business, particularly in the US and Asia.
Lufthansa’s integration of parts of the bankrupt airline Air Berlin into its lowcost unit Eurowings hit first quarter profits. Germany’s largest carrier had an operating profit of €26 million compared to €25 million a year earlier.
Operating profits at plastics maker Covestro, spun-off by Bayer in 2015, jumped 25% to €1.1 billion in the first quarter.
Berlin is considering stricter data privacy regulation in light of Facebook’s role in the Cambridge Analytica scandal. Sites such as Facebook that pass on personal details without “effective consent” could be punished, the interior ministry said.
Deutsche Börse CEO Theodor Weimer named three new executive board members for key areas of custody, trading and IT and disclosed an ambitious target of 10 to 15 percent profit growth per year through 2020.
Europe will need 5,000 new tanks by 2050, and will spend €100 billion on them and new howitzers as it replenishes obsolete systems, Frank Haun, CEO of tank maker Krauss-Maffei Wegmann told Handelsblatt.
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