The EU and Japan signed a historic free-trade agreement dubbed JEFTA today. Tokyo will reduce tariffs on European dairy, meat and wine, and Brussels will slash duties on auto imports when the deal comes into force, possibly next year.
Jörg Schneider, CFO at Munich Re, will step down at the end of the year. He will be replaced by Christoph Jurecka, CFO of Ergo, a subsidiary of Munich Re.
Michael Kühne, a German billionaire, received an offer from Morgan Stanley Infrastructure for VTG, valuing the company at €1.52 billion. Morgan Stanley already owns 49% of the rail logistics firm.
ThyssenKrupp shares climbed more than 8% after board chair Ulrich Lehner said he would step down at the end of the month. Market analysts said pressure is building on managers to split up the conglomerate.
Half of Germans store gold in deposit boxes, according to a survey conducted for Deutsche Börse. One in 10 would be willing to bury it in their garden.
Frankfurt looks set to gain fewer finance jobs from London after the UK leaves the European Union than it initially hoped as banks may spread offices across Europe. (Bloomberg)