Fraport said it got city permission to build a new terminal for discount airlines at the Frankfurt Airport. Flights could take off from Terminal G in 2021. (Reuters)
Interior Minister Horst Seehofer’s new migration proposal, seen by Handelsblatt, aims to secure skilled workers and “prevent immigration into social systems.”
Just months after its split from carsharing service DriveNow, rental company Sixt said it plans to invest €100 million in “mobility services” over the next five years. (Reuters)
The Industrial and Commercial Bank of China and the Bank of China are interested in taking stakes in NordLB, a bank partly owned by the German state of Lower Saxony. (WiWo)
CEO Martin Zielke said if Commerzbank drops out of the DAX, “for our customers, for our business, nothing changes at all.” He added it would reinforce his strategy of “further developing the bank technologically.” (Reuters)
German defense company MBDA and America’s Lockheed Martin are getting closer to a contract for a billion-dollar missile defense system for the German Bundeswehr.
Germany’s Biontech is working on a $305 million project with Pfizer of the US. The biotech company from Mainz is researching personalized immunotherapy for cancer and other illnesses.
Claims paid out by reinsurers totaled $20 billion in the first half of the year, down $10 billion from the same period in 2017, Swiss Re reported. (Reuters)
The city of Hamburg is selling off 50 refugee shelters for just €1,000 each. The catch? You have to pick them up yourself. (Spiegel)
The EU’s trade surplus with the US grew 16% in the first half of the year, reaching €66.9 billion, Eurostat said.
With the Turkish lira in crisis, the German Finance Ministry has assured it would ignore the usual €1.5 billion annual cap on export guarantees. Berlin guaranteed €831.7 million in goods to Turkey in the first half of 2018. (DPA)
Spooked by US sanctions, Deutsche Bahn and Deutsche Telekom are halting operations in Iran. Telekom ended business with Tehran in May; DB will phase out projects by September. (WiWo)
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Germany’s gaming market grew by 17% in the first half of the year, with sales of computer and video games totaling €1.5 billion, Gamescom reported.
The German hospitality industry grew by 2.5% in the first half of 2018 compared to a year earlier. (Destatis)
Berlin’s U-Bahn is in a “precarious position,” with operations threatened by worker shortages, difficult schedules and equipment breakdowns, employees wrote to BVG management in an open letter.
After a strong second quarter, payment services startup Wirecard raised its earnings projection for this year to as much as €560 million.
Monsanto, Bayer’s agrochemical subsidiary, may face more fines in the US after farmers in Arkansas and South Dakota filed lawsuits over alleged damages from the herbicide glyphosate. (WirtschaftsWoche)
Consumer goods giant Henkel said currency swings and higher raw materials prices weighed on its second-quarter results. Pre-tax profits rose 1.8% to €926 million.