The beleaguered state and property financier Hypo Real Estate may need more state aid than previously expected, a report in Sunday newspaper <i>Welt am Sonntag</i> revealed.
Germany will likely violate the European Union's rules on public deficits until at least 2013, according to finance ministry figures published on Wednesday.
Insolvent German mail-order company Quelle got a massive credit injection of €50 million on Monday night after more than four hours of negotiations, government officials said.
The German government has denied the request of struggling retail and tourism corporation Arcandor for a financial boost of €650 million, daily <i>Handelsblatt</i> reported on Tuesday.
German bank Hypo Real Estate (HRE) posted on Tuesday a first quarter loss of €382 million euros ($511 million) as the state pursued its bid to nationalise the troubled property lender.
The German trade union association (DGB) called on Friday for politicians, employers and workers to fight together to save jobs during the global financial crisis.
Ailing German car maker Opel is certain to find new investors that will save it from collapse, company head Klaus Franz told daily <i> Westdeutsche Allgemeine Zeitung</i> on Tuesday.
The German government launched a takeover of troubled Hypo Real Estate bank on Thursday with the aim of stabilising the financial markets as the worst recession since the 1930s sets in.
The world economic crisis has officially reached the German steel industry. New statistics published on Tuesday revealed that only half as much steel was produced in March as in the same month last year.
The German tenants’ association, or <i>Deutscher Mieterbund</i>, is expecting rents in Germany to rise as a result of the financial crisis, the Berlin newspaper <i>Tagesspiegel am Sonntag</i> reported Sunday.
German deputies on Friday approved a first reading of legislation that could lead to a nationalisation of the Hypo Real Estate bank and the expropriation of US shareholder Christopher Flowers.
German Chancellor Angela Merkel on Thursday defended her government’s handling of the global economic crisis amid ongoing criticism from abroad, at home and even within her own coalition.
What do Berlin trams, German sewers and the stricken US insurer AIG have in common? They are all intertwined in complex financial transactions that could cost many German cities dearly.
German Chancellor Angela Merkel scrambled Monday to replace Economy Minister Michael Glos after his shock resignation with Germany in recession and a general election only seven months away.
Troubled German chipmaker Qimonda filed for insolvency protection Friday after talks to secure additional rescue funding collapsed, a court spokeswoman in Munich said.
Germany is working on ways to help its banks get rid of toxic securities that have kept them wary about lending despite last year's €480-billion ($625-billion) rescue, a lawmaker said Thursday.
Europe's leading carmaker Volkswagen said on Tuesday it would idle about two thirds of its 92,000 German workforce for one week next month as it cuts production amid an economic slump.
Germany's fractious coalition will squabble this week over a second boost for the ailing economy, but on Sunday Chancellor Angela Merkel first had to restore harmony among her own conservative allies.
On Monday Chancellor Angela Merkel will receive a festive children's choir raising money for charity. They are not the only ones wanting cash in Berlin - and others are singing a lot less sweetly.
