News Bites

President Emmanuel Macron affirmed France will take back refugees registered there as Chancellor Merkel seeks backing for a European solution to the migrant problem. The two also agreed to launch an EU investment fund.

Chancellor Angela Merkel is set to meet with Hungarian Prime Minister Viktor Orbán on July 5 in Berlin to discuss asylum policy.

Germany’s Criminal Police Office recorded a slight decrease in the number of cars stolen in 2017, with half of all thefts occurring in Berlin and North Rhine-Westphalia. Imported sports cars and SUVs were most commonly hijacked.

Germany’s public health insurance providers want to see doctors extend their hours later into the evening and on weekends to help patients schedule appointments more easily.

German car-parts maker Continental is moving forward with plans to list its powertrain unit, which in 2017 generated €7.7 billion in sales, on the stock market, said inside sources. (Bloomberg)

Deutsche Bank parted with some of its performing and non-performing ship loans valued at $1 billion to Oak Hill Advisors and Varde Partners.

Customs agents at Düsseldorf’s airport seized 22 tarantulas from a 48-year-old man who brought the spiders back from Paraguay as souvenirs. A local veterinary clinic is checking the arachnids’ health.

The new B’mine hotel set to open in Düsseldorf in 2019 fitted its rooms with balconies spacious enough for guests’ cars, letting occupants see them from their room after they are brought up via a special lift. (DPA)

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Audi’s non-executive supervisory board reportedly placed CEO Rupert Stadler on leave after his arrest Monday, according to insiders. Bram Schot, head of sales and marketing, was appointed as interim boss.

Greece may receive up to €15 billion to help ensure its financial stability after the country’s third bailout program comes to an end in August, a German official said.

At the Petersberg Climate Dialogue, Chancellor Angela Merkel said Germany needs to do better at reducing greenhouse gas emissions, and that its biggest “problem child” is the transportation industry, which has not cut down on CO2 emissions since 1990.

The 19-year-old Syrian who attacked two Jewish men wearing kippas with a belt in Berlin last April is on trial today. The incident was captured on video and fueled conversations about rising anti-Semitism in Germany.

As of 2017, a staggering 68.5 million people had fled their homes due to war, violence or persecution, according to the UN Refugee Agency. Around 1.7 million worldwide submitted asylum applications, with 198,300 applying in Germany. That number fell from 722,400 in 2016.

Audi’s CEO Rupert Stadler, who was arrested Monday, will testify this week, Munich’s public prosecutor told Handelsblatt.

ECB President Mario Draghi touched upon raising interest rates, saying the central bank “will remain patient in determining the timing of the first rate rise and will take a gradual approach to adjusting policy thereafter.”

Chancellor Angela Merkel gave a keynote speech about climate policy at the Petersberg Climate Dialogue in Berlin with representatives from 35 countries present.

Retail thefts in Germany tallied up to €3.5 billion in losses last year, with €475 million coming from lost VAT, according to the EHI Retail Institute. Frequently stolen items were alcohol, perfume, video games and brand-name clothing items and shoes.

The Ifo Institute lowered its GDP forecast for Germany from 2.6 to 1.8% after the economy developed “significantly worse” than expected. It also lowered its 2019 prognosis from 2.1 to 1.8%.

With nearly 800 wolves living across Germany, the likelihood of wolf hybrids, which result from dogs and wolves mating, will increase, according to Rhineland-Palatinate’s state environment ministry.

Southern European countries, especially Italy with its new populist government and Spain after its abrupt leadership change, have German firms worried about risks to business, according to a study by the Association of German Chambers of Commerce and Industry.

German Chancellor Angela Merkel is set to meet with French President Emmanuel Macron near Berlin today for a four-hour session on immigration, defense and the euro zone.

Germany’s interior minister Horst Seehofer proposed today that the nation’s embattled immigration and refugee agency no longer be monitored by the chancellery, but through his own ministry.

The German Industry Association wants to ease German companies’ tax burden by capping their overall taxes at 25%. This would help businesses better compete with firms in the United States and France, both of which have offered tax cuts to corporates, they argue.

The German government is brainstorming how to keep the State Grid Corporation of China from acquiring a 20% stake in the high-voltage energy network 50Hertz, inside sources said.

Bayer faces legal liability as a US test case involving the bestselling glyphosate herbicide from recently acquired Monsanto seeks damages on claims that Roundup causes cancer.

Chancellor Merkel pledged financial aid for border control to Italian Prime Minister Giuseppe Conte as he visited Berlin, but she demanded solidarity on EU immigration policy in return. (dpa)

Sense or censorship

Banning talk shows won’t stop the rise of the AfD

A state-funded cultural lobby group has proposed suspending talk shows on German TV, because their discussions about refugees supposedly boosted the far-right party AfD. It’s a preposterous idea.

Daily Briefing

Americans, not Germans, are cleaning up Dieselgate

Audi's boss is now in the clink, while Trump is all confused about crime. Here's our Daily Briefing for June 19th, 2018. Plus a LongGermanWordYouCantSay.

See you in court

Bayer takes on legal risk in US trial of Monsanto’s glyphosate herbicide

German firm confident there is no evidence linking product to cancer, but experts caution that thousands of lawsuits could get costly.

Government crisis

Seehofer delay on refugees gives Merkel brief reprieve

The hardline interior minister gives the chancellor until European summit next week to get a common plan that meets his goal of keeping migrants out of Germany while Donald Trump attempts to capitalize on the political crisis in Berlin.

Editors’ Pick

Keep ’em out

Europe has lost its soul in the refugee crisis

Emmanuel Macron enthused over a year ago that Angela Merkel saved Europe’s “collective dignity” and “joint values” with her humane refugee policy. Those words didn’t age well.

Dive In

News Gallery

In case you missed it

Angela Merkel needs Europe, Germany's soccer team needs a win, Audi needs a new boss, and refugees may need a new home.

No Bullseye

Germany will miss its 2020 climate goals, now sights turn to 2030

Germany won’t meet its CO2 emission goal in 2020. Instead of wallowing, the country’s environment minister is focusing on industry giants and its next target: a 55 percent reduction by 2030.

Tech Boom

How to avoid a second dotcom crash

The TecDax, Germany’s main tech stock index, is booming dangerously. A redefinition of the index could help stabilize things, but will it come too late?

Rupert Stadler

Audi CEO arrested over Dieselgate scandal

Prosecutors are hunting their biggest scalp yet in the Dieselgate scandal, arresting Audi CEO Rupert Stadler. The carmaker already has a replacement, Handelsblatt has learned.

asylum impasse

Migrant crisis sets Merkel a Herculean diplomatic task

With the migrant crisis stoking tensions in the EU and within her government, Angela Merkel has two weeks to broker complicated compromises. Without a deal, her days as chancellor could be numbered.

Russian roulette

German companies stand to lose if the West’s Russian diplomacy fails

Right now, it’s all soccer and smiles, but if the relationship between Russia and the West collapses further, German companies will foot the bill.

Asset-poor

Risk-averse Germans are missing out on global wealth gains

Global wealth surpassed $200 trillion last year and will likely keep growing, a BCG study found. But scaredy-cat Germans are stragglers, preferring to save rather than invest in stock-market opportunities.

Ask a German

Handelsblatt explains

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

german cow, cowsharing, herdshare germany

Meet your meat

Hungry for humane beef, Germany looks to cowsharing

Conscientious carnivores have multiple options for getting in on a herdshare, where a consumer directly buys part of a cow.

new world order

The old world is dying, and Europe must seize the moment

A new era in global affairs has begun, says former German foreign minister Sigmar Gabriel: Germany and Europe must seize the moment.

Hipster horticulture

Schrebergarten culture’s gnomes make way for Zen gardens

The centuries-old German lifestyle around allotment gardens, or schrebergarten, is in flux. Out: old guys with beer bellies and sandals. In: hipsters with high-tech grills.

Currency birthday

Remembering the D-Mark, talisman of Germany’s economic miracle

Seventy years ago, the deutsche mark was launched as West Germany's currency and became the symbol of a thriving "social market economy." Four economists give views on how to preserve that prosperity.

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