Business

Volkswagen starts settlement talks with German consumer groups

Editorial Bureau January 2, 2020

FRANKFURT- On Thursday, Volkswagen said that it was in settlement talks with vehicle owners in Germany suing them for VW’s diesel cars excessive pollution. The Federation of German Consumer Organisations and Volkswagen have both decided to enter discussions regarding settlements soon.

Europe

CIA devised way to restrict missiles given to allies, researcher says

Editorial Bureau December 31, 2019

LEIPZIG, Germany- The U.S. Central Intelligence Agency has devised technology to restrict the use of anti-aircraft missiles after they leave American hands, a researcher said, a move that experts say could persuade the United States that it would be safe to disseminate powerful weapons more frequently. The new technology is intended for use with shoulder-fired […]

Europe

German cabin crew union says to strike next week at Germanwings

Editorial Bureau December 28, 2019

FRANKFURT- German cabin crew will go on strike from Monday to Wednesday next week at Lufthansa’s budget airline Germanwings, the UFO labour union said Friday. The strike is an escalation of a months-long dispute with Lufthansa and its subsidiaries over pay and pensions. Lufthansa management and UFO last month agreed to enter large-scale arbitration talks […]

Business

Germany’s Scout24 sells car listings unit to Hellman & Friedman

Editorial Bureau December 18, 2019

BERLIN- German classifieds group Scout24 said on Tuesday it had agreed to sell its AutoScout24 car listings business to private equity investor Hellman & Friedman (H&F) for 2.9 billion euros ($3.2 billion). Based in Munich, AutoScout24 bills itself as the largest automotive digital marketplace in the European Union, operating in 18 countries, with over 10 […]

Europe

German balanced budget policy should not be a fetish – Bundesbank chief

Editorial Bureau December 14, 2019

BERLIN- Germany does not need an economic stimulus package and its ‘black zero’ balanced budget policy is useful for achieving sound finances but should not become a fetish, the head of the national central bank told the Sueddeutsche Zeitung. “As a political budgetary objective, the black zero fulfils the pedagogical purpose of ensuring sound finances.

Europe

Don’t rush out of coalition, warns popular German SPD youth boss

Editorial Bureau December 4, 2019

BERLIN- The influential leader of Germany’s Social Democrat (SPD) youth wing warned on Wednesday that the party should not be hasty in walking out of government, a marked change in tone from someone known as a sceptic of the alliance with Angela Merkel. Seen by some German media as the power behind the SPD’s new […]

Europe

‘Cool it,’ France and Germany to tell Trump at NATO talks

Editorial Bureau December 4, 2019

WATFORD, England- NATO leaders will tell U.S President Donald Trump on Wednesday they are spending billions more dollars on their militaries in the hope that he pares back his attacks on the Western alliance. In formal talks following a Buckingham Palace reception on Tuesday to celebrate 70 years of NATO, European leaders led by Germany […]

Sport

Portugal, France and Germany in Euro 2020 super group

Editorial Bureau December 1, 2019

BUCHAREST- Defending champions Portugal and the last two world champions, France and Germany, were thrown together in what German coach Joachim Loew described as the group of death following a lop-sided and complicated Euro 2020 draw on Saturday. England were drawn against Croatia in a repeat of last year’s World Cup semi-final while other favourites […]

Europe

Germany’s E.ON to break up UK’s Npower in 500 million pound overhaul

Editorial Bureau November 29, 2019

FRANKFURT/DUESSELDORF, Germany- German energy group E.ON plans a 500-million-pound break-up of the struggling British Npower division it inherited from Innogy, which an union said could put up to 4,500 jobs at risk. The revamp is the latest among established British retail power providers, which have been losing customers to nimbler recent market entrants and been […]

Europe

Germany plans rapid state intervention to protect key industries

Editorial Bureau November 29, 2019

BERLIN- German Economy Minister Peter Altmaier wants to set up a new government body with powers to decide quickly whether to take stakes in key domestic companies to prevent foreign takeovers. Altmaier presented his new industrial strategy on Friday, including plans to set up a standing committee which, as a last resort, could decide to […]