The German government approved €2.6 billion in weapons exports in the first half of the year, about €1 billion less than in the same period in 2017. Algeria was the biggest buyer, followed by the US and Saudi Arabia.
Chinese car parts supplier Ningbo Jifeng succeeded in winning control of its German peer Grammer, obtaining a 37.7% stake.
Fifty-six percent of Germans said Europe can guarantee its own safety without US support, according to a survey. (RTL/N-TV)
Online video platform Maxdome and Eurosport Player, owned by broadcaster ProSiebenSat.1 and US-listed Discovery Communications respectively, won antitrust approval to merge operations.
British Foreign Minister Jeremy Hunt, on his first trip abroad to Berlin, praised Germany as one of the UK’s best friends in the world. He also warned that a “No-deal” Brexit could occur by accident if EU leaders don’t show more “flexibility and creativity.”
Allianz will buy Multiasistencia, a Spanish provider of repair services, from private equity fund, Portobello Capital. The German insurer will add the service to its existing repair-in-kind products.
After a lull from January to March, Germany’s economy has picked up steam in the second quarter, the Bundesbank said.
European Commission President Jean-Claude Juncker will not present concrete proposals to Donald Trump on how to solve the trade conflict. “It is a dialogue,” a spokesman said ahead of his Wednesday visit to Washington D.C.
The German economic think tank Ifo urged the European Union to take the US up on its offer to conclude a trade agreement, which would apply to large industrialized countries.
Germany finally wants a terminal to import liquified natural gas, which could make it less dependent on Russian gas and enable LNG imports from the US and other far-flung destinations, such as Qatar and Australia.
Mesut Özil resigned from the national soccer team after widespread criticism of his photograph with Turkey’s president. He condemned the racism he experienced, and lack of support from the DFB, Germany’s football association.
Mr. Özil’s departure from the national soccer squad is a blow to Germany’s integration efforts and will have repercussions beyond the sport, said Germany’s former National Soccer League president Theo Zwanziger. (DPA)
Chancellor Angela Merkel said Mr. Özil’s decision to resign should be respected and praised him as a great soccer player.
Germany’s national soccer association rejected soccer player Mesut Özil’s racism allegation, saying it supports diversity and has established numerous integration projects.
The Turkish government praised Mr. Özil’s decision to resign from the German national team. The country’s justice minister said it was his “most beautiful goal … against the fascist virus.”
Bankrupt British fashion label Bench will close its 14 stores in Germany, Austria and the Netherlands, as decided by the new US owner of the brand, Gordon Brothers.
JD.com, China’s second-largest e-commerce provider, plans to expand into European and US markets, boss Richard Liu told Handelsblatt.
New, stricter engine emissions test has caused bottlenecks at Volkswagen. The company will rent parking spaces for up to 250,000 vehicles, starting August. (Reuters)
Two German pharma giants, Merck and Bayer, said drug prices would not be increased in the US this year, after Trump tweeted the companies “should be ashamed” last month. Other drugmakers – Novartis, Pfizer and Roche – also froze US drug prices. (Reuters)
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The French payment services company, Wordline, says its subsidiary, equensWordline, will process payments for Germany’s Commerzbank. The parties have entered into a 10-year partnership worth over €200 million. (Reuters)
Daniela Gerd tom Markotten, of Moovel, will switch to lead the new Daimler-BMW car-sharing alliance which aims to take on the likes of Lyft and Uber. (manager magazin)
In Munich, 25,000 people demonstrated in opposition to right-wing populism and to protest the CSU’s tough stance on migration.
The SEC will fine two Deutsche Bank subsidiaries in the US $75 million for mishandling ADRs.
Fiat Chrysler boss Sergio Marchionne was replaced on Saturday due to his illness. Mike Manley is the carmaker’s new CEO.