News Bites

Software AG, Germany’s second-largest IT firm, will unveil a new strategy next February that may entail acquisitions in data storage, said CEO Sanjay Brahmawar. On Friday, the shares rose as much as 5.2% after the company said third-quarter operating profit rose 8% to €54.5 million.

Justice Minister Katarina Barley urged hardware retrofits of diesel vehicles to ease pollution and prevent further diesel bans. Last week, Berlin became the latest German city to block some of its roads to older diesels.

Deutsche Bank, Germany’s largest lender, next Wednesday is expected to report its third-quarter pretax profit fell nearly two-thirds, to €328 million from €933 million a year earlier. (Reuters)

The IPO of Primepulse, owner of Munich-based IT firm Cancom, on November 6 will raise up to €155 million, down from a previous estimate of €250 million. Primepulse, a private equity investor, will use the proceeds to buy Mittelstand companies.

Masked men robbed an armored car near Berlin’s central Alexanderplatz early Friday morning, shooting at a police car as they fled. No injuries were reported.

Porsche, part of the VW group, ruled out taking the luxury carmaker public. Earlier, Porsche CFO Lutz Meschke sparked talk of an IPO after praising the effects of Ferrari’s stock listing.

The head of industry association BDI, Dieter Kempf, warned a hard Brexit was increasingly likely as the UK’s negotiations on leaving the EU dragged on. “We’re looking into the abyss,” he said on Friday.

Germany’s military will end its jet reconnaissance missions against the extremist group IS in Iraq and Syria in 2019, the Bundestag decided on Thursday.

The Bundestag agreed to raise truck tolls on the country’s highways and federal roads from January, especially for loud and heavy vehicles. The increase will lift annual toll revenue by an estimated €2.5 billion to €7.2 billion.

Some 70% of Germany is still suffering from extreme drought, the German Weather Service reported. This year is likely to be among the five driest since records began in 1884.

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Financial protection

Germany prepares emergency laws to cope with hard Brexit

Berlin is bracing for the fallout of a no-deal Brexit by drafting legislation to shield Germany’s insurance and derivatives markets. The move is being coordinated with several other EU members.

Artificial intelligence

Firms try to control rise of the machines

With AI technology getting more powerful every week, companies are heeding to pressure and drawing up guidelines to police it. But the publication of house rules doesn't go far enough for some.

Good or bad?

For and against an EU unemployment fund

Two Handelsblatt writers debate the merits of an EU fund to support the jobless during a crisis, a proposal put forward by Germany’s Social Democrat finance minister but rejected by the ruling conservatives.

industrial espionage

Germany isn’t concerned about spy chips – but it should be

Governments worldwide are acting to protect their IT from snooping technology hidden in hardware. Berlin’s lack of angst is worrying.

Editors’ Pick

Mutt and Jeff

Jobless insurance highlights ‘rivalries over issues’ culture in Berlin

Economics Minister Peter Altmaier and Finance Minister Olaf Scholz personify the different objectives of the two parties in Germany’s fraying grand coalition.

Dive In
porsche taycan electric car to take on tesla

E-mobility

Porsche readies all-electric Taycan to take on Tesla

Germany’s iconic sports carmaker will start mass production of the Taycan next year in hopes it can make inroads in the global electric car market.

euro-zone reform

Finance Minister Scholz wants pan-European jobless fund

Troubled countries could borrow money to pay unemployment benefits, rather than dig around in their own treasuries to find the cash during times of crisis.

Ask a German

Handelsblatt explains

Much about Germany is confusing or surprising to foreigners - and even to Germans. Our editors provide clarity.

CSU seehofer bavarian vote

heart full of hope

Seehofer sidesteps responsibility for Bavarian debacle

CSU leadership has followed Chancellor Merkel’s example and ignored the parliamentary tradition of taking personal responsibility for party electoral defeats.

rewe ceo grocery stores germany eu

unfair play

Edeka and Rewe object to EU farmer protection proposal

German cooperative grocers Rewe and Edeka say amendments to a new EU directive designed to protect farmers would undermine their business models.

SME Power

Mittelstand

Volkswagen, Bayer and Adidas are household names. But more than 95 percent of Germany's economy is generated by lesser-known firms that aren’t listed on the blue-chip DAX Index.

Syrian refugee

Cologne officials hesitate to label attack ‘terrorism’

A suspect who tried to set a McDonald's on fire and then took a woman hostage at a train station claimed to be a terrorist. But police said the 55-year-old immigrant suffered from mental problems and was drunk.

bavaria fallout

Germany’s Social Democrats are history, and that’s a bad thing

Whatever your politics, the downfall of the SPD is a loss to the political landscape. Sadly, it seems inevitable, writes a Handelsblatt correspondent.

Gold bricks

German real estate

Long tipped as a rising star in the European market, Germany has finally come into its own. Our series on residential property highlights some favorite cities for expats and investors alike.

russia, nord stream pipeline

firm friends

Why we need to reach out to Russia

It’s wrong to demonize Russia and its government. Economic cooperation and partnership — without avoiding criticism — are the way forward, writes a German state premier.

audi dieselgate fines settlement

Costly absolution

Audi pays €800 million fine to settle Dieselgate probe

VW’s luxury car business will pay a heavy penalty to end the authorities' investigation into Audi’s manipulation of diesel emissions. It won’t be the last fine Volkswagen has to pay.

outgoing beiersdorf ceo

Global Brand

New Beiersdorf CEO is a move for continuity

Beiersdorf, the maker of Nivea and La Prairie, saw its share price double in the last CEO's tenure. The new boss, recruited from the executive board, could take the company to the next level.

life insurance in germany

millennial market

Finally, German insurers offer flexible life insurance for younger customers

Life insurance policies that let clients change and suspend premium payments have been available in other countries for years, but they don’t come cheap.

Emissions cheating

Dieselgate catches up to troubled Opel

Prosecutors raided the French-owned carmaker looking for evidence of emissions fraud, threatening massive recalls and thwarting Opel's comeback attempt.

Empowering Europe

Can euro-zone reform help contain Trump?

If the EU is serious about making the euro a global currency, the trading bloc needs a single finance minister. This would be a bright response to Washington's economic warfare, writes a leading German economist.

Poacher turns gamekeeper

From Goldman Sachs to Germany’s Finance Ministry

Deputy finance minister Jörg Kukies has had a fascinating career: From motorbike-riding Social Democrat, to Goldman Sachs banker with a million dollar salary and, now, back to politics again.

digital desire

High-tech toys dominate at Berlin sex industry trade fair

New sex toys on display at Berlin’s annual Venus trade fair promise to bring you pleasure by integrating with your phone, your virtual assistant and your long-distance lover. They also promise to work on the “orgasm gap.”

Germans and hogs

How pigs rooted their way into the German language

Germans have long had an unusually intense relationship with pigs, which shows up in peculiar phrases in everyday conversations, often harkening back to the Middle Ages in ways good and bad.

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