News Bites

Vonovia, Germany’s largest real-estate company, agreed to buy Austrian rival Buwog for more than €5 billion ($5.9 billion).

Traders don’t expect an end-of-year rally in the DAX after the benchmark index gained 14% this year and despite the new tax legislation in the US. The stock market is expected to continue growing in 2018. (Reuters)

Pharmaceutical giant Boehringer Ingelheim’s CFO, Simone Menne, will leave the job after just 18 months, apparently due to a conflict with the great-grandson of the founder.

The German economy grew by 2.6% in 2017, more than the expected 1.9%. The Bundesbank also said growth will be higher than expected in 2018, adjusting forecasts from 1.7% to 2.5% growth.

The European Central Bank has decided to leave euro zone interest rates as they are, at current record lows.

The Ifo research institute raised its growth forecasts for the German economy, predicting an expansion of 2.3% this year and 2.6% in 2018, compared with 1.8% and 2.0% previously.

Martin Blessing, former Commerzbank CEO, likely to take the reins at UBS

Leadership changes

New heir apparent at UBS

Former Commerzbank chief Martin Blessing will be taking over the wealth management division at UBS, likely putting him next in line to be the Swiss bank's CEO.

Monetary Policy

Draghi dragging up the rear

The ECB stubbornly refuses to budge from its loose monetary policy as the European economy picks up pace and other central banks raise rates.

Systemic Risks

ECB under fire over banking supervision

National auditors in five eurozone countries argue they should have more oversight over ECB bank supervision. Otherwise, they say, the ECB's mistakes will go unchecked.

Eurex Exchange

German market weighs Bitcoin futures

As Bitcoin passes the $17,000 mark, Deutsche Börse says it may offer futures in the cryptocurrency.

Residential Boom

German property prices soaring – but for how long?

From glitzy Munich to modern Frankfurt and hip Berlin, urban real-estate prices continue to surge in Germany despite scattered signs the market is overheating.

Investment Management

Deutsche Bank debuts robo-advisor for retail market

Germany’s largest bank takes a further step in its restructuring as it responds to the growing demand for inexpensive asset management.

Currency Exchange

Return of the deutsche mark, Germany’s hidden treasure

Squirreled away in desk drawers, books and preserving jars across the country, billions of old deutsche marks await a pleasant rediscovery.

Sustainable portfolios

Ethical investment pledges by Allianz, Blackrock and rivals go up in smoke

A new study reveals cleaning up the environmental footprint of investments can still leave plenty of CO2-laden tracks.

Insurance industry

Jostling for the top job at Munich Re

Joachim Wenning became CEO of the reinsurance giant Munich Re in April. But some within the company question whether he is the right fit for the job, at a time of rising challenges and technological flux.

Trump-Russia Investigation

Yes, Deutsche Bank did get a subpoena from Mueller

Donald Trump’s lawyer denies that US special counsel Robert Mueller subpoenaed Deutsche Bank. We stand by our story – which never said Mr. Trump’s own records were requested.

Quantitative Easing

ECB’s corporate bond buys threatened by Steinhoff accounting

When the European Central Bank went shopping for corporate bonds, it found retail giant Steinhoff. Now with the company in crisis, the bank is facing questions over what it should do with all that debt.

Frankfurt Stock Exchange

Another leadership change at Deutsche Börse?

After a tumultuous year, the head of Deutsche Börse’s supervisory board, Joachim Faber, is said to be discussing plans to leave his post in 2019. The company’s shareholders appear to support the idea.

Investing Trend

Crowdfunding party carries real risks

Tapping Germany's masses for investment cash is catching on. But consumer watchdogs warn the risks should be better signposted.

Asset Management

Deutsche Bank plans for fund unit spinoff leave investors’ heads spinning

Germany’s largest bank wants to sell shares in its profitable funds operation to investors but also keep total control.

Follow the Money

Mueller’s Trump-Russia investigation engulfs Deutsche

Deutsche Bank has received a subpoena from the US special counsel investigating possible collusion between President Donald Trump’s campaign and Russia. It's actually welcome news for the bank.

Eurogroup President

The mouse that doesn’t roar

Portuguese Finance Minister Mario Centeno will be the new head of the Eurogroup, but big-country officials will continue to call the shots for the euro.

KNOW YOUR CUSTOMER

UK regulators scold Commerzbank

Britain’s Financial Conduct Authority has warned Commerzbank’s London branch that it’s not doing enough to comply with rules meant to prevent financial crime, Handelsblatt has learned.

Not Your Grandmother's Bank

Berenberg Bank’s increasingly risky business

Germany's oldest private bank is increasingly turning toward investment banking. The riskier business model is yielding profits, but a number of problems too.