The Local Germany

Germany to buy Daimler's EADS shares

Thu, 10 Nov 2011 15:52:00 +0100

Carmaker Daimler is to transfer a 7.5-percent stake in European aerospace and defence giant EADS to Germany's state-owned bank KfW, the Economy Ministry announced on Thursday.

German bank reclaims 50 trains from Bulgaria over payment row

Fri, 07 Oct 2011 13:41:00 +0200

Germany's state development bank KfW has claimed back 50 Siemens trains leased to Bulgaria's state railways company BDZ over delayed payments and an insurance row, a press report said on Friday.

German aid worker killed in Afghanistan

Sat, 25 Dec 2010 14:03:00 +0100

A German development worker was killed by insurgents in northern Afghanistan on Friday night. Development Minister Dirk Niebel described the killing as a "cowardly attack," while Chancellor Angela Merkel has expressed her shock.

Prosecutors drop investigation of 'Germany's stupidest bankers'

Tue, 07 Sep 2010 18:12:00 +0200

German prosecutors said Tuesday they had dropped a probe into six bankers from state-owned KfW for transferring some €320 million ($408 million) to Lehman Brothers after it had collapsed.

New state programme to aid struggling companies

Sat, 29 Aug 2009 17:10:00 +0200

German Economy Minister Karl-Theodor zu Guttenberg has announced a plan to create a €10 billion state fund to help companies in credit difficulties, news magazine Der Spiegel reported Saturday.

Germany’s 'dumbest bankers' to receive bonus

Sat, 06 Dec 2008 11:48:00 +0100

The state-owned development bank has had a terrible year thanks to to the finance crisis and management missteps. Now, the bank’s CEO is set to receive a bonus of at least €160,000, the daily Bild reported Saturday.

KfW to report more losses after 'catastrophic' autumn

Mon, 24 Nov 2008 09:29:00 +0100

Germany's state-owned development bank KfW is expecting further losses in its final-quarter 2008 results, following losses in the first three quarters of the year, the bank's chief said on Monday.

Germany to help small business through slump

Sat, 01 Nov 2008 16:04:00 +0100

The German government is reportedly planning an ambitious aid package for small and medium businesses, the backbone of the German economy, to help them survive the credit crisis.

Police search KfW over transfer scandal

Wed, 22 Oct 2008 17:09:00 +0200

Police searched the offices of the KfW state development bank in Frankfurt on Wednesday while investigating alleged crimes connected with money transferred to Lehman Brothers after it had gone bust.

KfW execs sacked for ill-fated transfer to Lehman

Mon, 29 Sep 2008 17:13:00 +0200

Germany's KfW said Monday it had fired two directors who have been suspended since the state development bank transferred more than €300 million to Lehman Brothers after it filed for bankruptcy.

KfW transfer to Lehman reportedly no mistake

Mon, 22 Sep 2008 13:09:00 +0200

The €350-million transfer to Lehman Brothers from German state development bank KfW transfer was not a mistake, according to the Monday edition of daily Frankfurter Allgemeine Zeitung.

Reporter meets one of 'Germany's dumbest bankers'

Sun, 21 Sep 2008 17:44:00 +0200

With Germans wondering how employees at the KfW bank came to sink over €300 million ($500 million) into Lehman Brothers just hours before the Wall Street firm collapsed, one paper has gone straight to the source.

Steinbrück looking for blood over KfW's Lehman scandal

Thu, 18 Sep 2008 18:39:00 +0200

German Finance Minister Peer Steinbrück has called for KfW officials to pay the consequences for the state development bank's mistake transfer of €300 million ($427 million) to Lehman Brothers just as the US investment bank was collapsing.

US investment group Lone Star buys IKB

Thu, 21 Aug 2008 10:59:00 +0200

German state development bank KfW said on Thursday its stake in troubled commercial bank IKB will be sold to the US investment group Lone Star.

Government moves to lower Deutsche Telekom stake

Tue, 13 May 2008 16:46:00 +0200

Germany's state bank announced on Tuesday a new effort at further privatizing national phone company Deutsche Telekom with a €3-billion ($4.6-billion) convertible bond offering.

German bank wants Mugabe’s guns

Tue, 22 Apr 2008 15:07:00 +0200

Germany’s KfW development bank reportedly wants to impound the cargo of a Chinese ship – a horde of weapons and ammunition intended to bolster the Robert Mugabe’s authoritarian regime in Zimbabwe.