BMW is joining a consortium for recycling electric car batteries to ensure they remain sustainable. Other members are Belgian recycler Umicore and Swedish battery maker Northvolt. (Reuters)
Beiersdorf board member Stefan De Loecker, 51, will become CEO of the consumer products company in January, after current CEO Stefan Heidenreich steps down, as previously announced. De Loecker has been with the company for six years.
The main reason why voters abandoned the CSU during Sunday’s election was death. Some 240,000 of its voters died and another 220,000 migrated to the Free Voters party as well as 190,000 to the Greens. (ARD)
Chancellor Merkel said the CSU, the Bavarian sister party to her CDU, performed poorly in Sunday’s state election because voters have lost faith in the government. A strong economy and employment aren’t enough.
The BVG, Berlin’s public transport authority, is reviewing vacant rooms in subway stations for their suitability as homeless shelters during the winter. Portable toilets would be placed in front of the rooms.
Ceconomy shares rose some 5.4% after the electronics retailer said CEO Pieter Haas would step down immediately and CFO Mark Frese would leave once a replacement is found. The resignations follow two profit warnings.
Police in Cologne freed a hostage and severely injured a suspect after a standoff at a pharmacy in the Cologne train station, police said. Afternoon train traffic at the main station was disrupted as police negotiated.
Porsche CFO Lutz Meschke said the sports carmaker is contemplating floating at least part of the company to raise funds. He said Porsche could be worth as much as €70 billion, though the company denies the speculation.
Drugmaker Bayer is contemplating outsourcing some of its R&D activities to save €1.2 billion annually in EBITDA. Savings will also come through synergies after it paid $63 billion for agrochemical company Monsanto.
Suspecting that software was used to manipulate emissions of 95,000 Opel vehicles, police in the central German state of Hesse raided the carmaker’s offices. Up until now, Opel was left out of Dieselgate investigations.
Porsche unveiled test versions of their new electric sports car Taycan at an event in Stuttgart. Sales will begin next year.
Germany’s federal, state and municipal governments had a surplus of €26.8 billion in the first half of 2018. This is four times the surplus reported in the first six months of 2017, the statistics office said.
About 4,000 RWE employees blocked the entrances to strip mines and power plants in the Rhineland to protest possible job cuts. A judge this month halted mining at Hambach Forest.
Italian Interior Minister Matteo Salvini, leader of the right-wing Lega party, tweeted that the Bavarian election was a protest against Chancellor Merkel and the European Union.
Interior Minister Horst Seehofer said he would not resign as head of the Bavarian Christian Social Union after the party’s disastrous loss in Sunday’s state election.
The number of people who immigrated to Germany versus those who emigrated fell last year over 2016, according to the statistics office. Last year, a net 416,000 people moved to Germany compared to 500,000 in 2016 and 1.1 million in 2015.
Due to a technical error at the Frankfurt stock exchange, trading was delayed to about 10:15 am.
Berlin fintech Penta raised €7 million in a Series A fundraising round, primarily from Madrid venture capitalist Inception Capital. Penta specializes in bank accounts for small- and medium-sized businesses.
Productivity in German industrial manufacturing plants is lower than before 2009. Digital innovation hasn’t helped boost productivity and the Netherlands, Austria and Sweden outpace Germany. (Rheinische Post)
China’s HNA, which owns 7.6% of Deutsche Bank, is considering selling or listing its IT unit Pactera to pay off creditors. HNA bought Pactera for $675 million in 2016.
Clothing chain C&A cut its European board from seven members to three in order to become more competitive with rivals like Aldi, Primark and H&M.
Health Minister Jens Spahn has committed €115 million over four years to the World Health Organization. The contribution will be announced during the World Health Summit in Berlin.
An 8-year-old boy was killed in Berlin Sunday after being hit by a log that was thrown out of a 15-story-high apartment building. Police don’t know if it was an accident or intentional.