The Local Germany

US investors buy up north German state bank hit by financial crisis

Thu, 01 Mar 2018 10:18:06 +0100

Two German states said Wednesday they would sell troubled maritime lender HSH Nordbank in the first full privatisation of one of the regionally-owned "Landesbank" lenders hit badly by the financial crisis.

Germans among world's happiest people about economic situation

Tue, 06 Jun 2017 13:15:59 +0200

A new global poll shows that after the Dutch, the Germans are the most positive about their current economic conditions - but they're also quite pessimistic about the future.

US cities got €18.5 billion from German banks

Mon, 29 Jul 2013 12:41:00 +0200

Germany's biggest banks have been lending US cities money to the tune of around €18.5 billion. Bankrupt Detroit, it emerged on Monday, has been on of the main recipients, causing concern for Commerzbank.

Latest economic index shows more gloom

Mon, 26 Sep 2011 14:45:00 +0200

The mood in the German economy dipped again in September, according to the latest index published by the Munich-based Institute for Economic Research (Ifo). But the figures are not as bad as feared.

Public deficit drops to three-year low

Thu, 01 Sep 2011 14:06:00 +0200

Germany announced on Thursday a drop in its public finance deficit to 0.6 percent during the first half of the year, the lowest level since early 2008.

Pay back to pre-crisis levels for top bosses

Wed, 30 Mar 2011 16:01:00 +0200

Wages earned by top German bosses have climbed back to pre-crisis levels but are tied more closely to a company's longer-term performances, a private study showed on Wednesday.

Metal and electrical industries expect 50,000 new jobs in 2011

Mon, 31 Jan 2011 14:23:00 +0100

Some 50,000 new jobs are expected to open up in Germany’s metal and electrical industries this year, the Gesamtmetall industrial employers’ association said in Berlin on Monday.

Debt hits new record high

Mon, 20 Dec 2010 15:44:00 +0100

Despite revenue windfalls, Germany’s public debt has soared to record levels, with government now owing nearly €22,000 for every man, woman and child in the country.

Merkel urges EU leaders to stand up for euro

Thu, 16 Dec 2010 13:04:00 +0100

German Chancellor Angela Merkel urged European leaders to rally around the crisis-battered euro at a critical summit beginning on Thursday, saying the success of the single currency depended on unity.

Majority of Germans want to keep the euro

Fri, 10 Dec 2010 12:08:00 +0100

The majority of Germans want to keep the euro as their currency despite the current financial woes of several European Union countries, a new poll revealed on Friday.

Bailout fund could top €750 billion, Weber says

Thu, 25 Nov 2010 15:40:00 +0100

Bundesbank president Axel Weber has floated the possibility of increasing the €750 billion rescue fund for the euro should further bailouts of ailing countries be required.

German business confidence highest since reunification

Wed, 24 Nov 2010 16:44:00 +0100

German firms are the most optimistic they have been since reunification in 1990, a key indicator showed Wednesday, raising hopes Europe's powerhouse could drag the debt-wracked eurozone from the abyss.

Most Germans don't credit politicians for recovery

Sun, 31 Oct 2010 12:26:00 +0100

Nearly two thirds of Germans believe the country's economic recovery owes more to global factors than the government's handling of the financial crisis, a new poll suggests.

Cities plan big tax increases to fill empty coffers

Mon, 18 Oct 2010 12:15:00 +0200

Residents of many German cities will see their local taxes and fees rise significantly in 2011 due to a record €14-billion budgetary shortfall, the German Association of Towns and Municipalities (DStGB) said Monday.

Lone Star aiming to sell subprime victim IKB

Wed, 13 Oct 2010 13:29:00 +0200

US investment fund Lone Star has begun the process of selling the German bank IKB, the country's first financial crisis victim, which Lone Star bought in 2008, an executive said Wednesday in an interview.

'Don't get cocky,' IMF head warns Germany

Fri, 01 Oct 2010 17:24:00 +0200

The head of the International Monetary Fund, Dominique Strauss-Kahn, warned Germany on Friday not to get overconfident about its stellar rebound, saying he doubted the economy could continue to grow so strongly.

Merkel predicts more jobs as consumer zeal signals recovery

Tue, 28 Sep 2010 12:44:00 +0200

German consumer and business confidence were at three-year high points on Tuesday and Chancellor Angela Merkel forecast that unemployment could fall below three million in Europe's biggest economy.

EU watchdog airs 'doubts' about HRE after approving more aid

Fri, 24 Sep 2010 17:34:00 +0200

Europe's top competition watchdog on Friday expressed "doubts" about the long-term viability of troubled German bank Hypo Real Estate, while granting temporary approval for ongoing state support.

Another €2.08 billion pumped into HRE bank

Wed, 22 Sep 2010 18:47:00 +0200

Germany will pump another €2.08 billion ($2.79 billion) into the troubled bank Hypo Real Estate, the financial market stabilisation fund SoFFin said Wednesday in a statement.

HRE bonus payments a 'scandal,' taxpayers' group says

Mon, 20 Sep 2010 11:02:00 +0200

Germany’s taxpayers’ association (BdSt) on Monday attacked generous bonus payments for bankers at the nationalised Hypo Real Estate bank, calling them a “scandal.”