Frankfurt

BASF sales down 18 per cent due to Gazprom asset swap

German chemicals giant BASF said Friday that its revenues decreased by 18 per cent, to 57.6 billion euros (60.9 billion dollars), in 2016, due mainly to a multibillion-euro asset swap with Gazprom, Russia's state-backed gas group.

Germany's record surplus sets off debate about using extra cash

Germany's budget surplus continued to grow last year, reaching its highest level since the reunification of East and West Germany in 1990 and setting off a debate about what to do with the extra cash.

Trump border wall plans push Mexico to seek new trading partners

Mexico will pursue trade agreements with other nations following threats by US President Donald Trump to tax its exports to the United States, Mexican Foreign Minister Luis Videgaray has told dpa.

Lufthansa reaches settlement with pilots' union in salary dispute

German airline Lufthansa and pilots' union Vereinigung Cockpit have agreed to a settlement proposed in mediation, ending a long-running and bitter dispute over salaries.

Unexploded World War II bomb discovered near Frankfurt airport

An unexploded bomb dating back to World War II has been found near Frankfurt airport and is set for a controlled detonation later Monday, according to German police officials in the city of Darmstadt.

Germany's central bank bringing home gold reserves ahead of schedule

The German central bank is on track to bring home billions in gold reserves years ahead of schedule, Bundesbank board member Carl-Ludwig Thiele announced in Frankfurt on Thursday.

Deutsche Bank apologizes to Germans with full-page newspaper ads

Deutsche Bank apologized to Germans for its costly mistakes in the past with full-page ads in several German newspapers on Saturday.

Johnson and Johnson gulps Swiss biotech firm for 30 billion dollars

US pharmaceutical and health product giant Johnson and Johnson will take over Swiss lung medicine maker Actelion for 30 billion dollars, both companies announced Thursday.

Germany's Schaeuble warns Britain against becoming a tax haven

German Finance Minister Wolfgang Schaeuble on Wednesday warned Britain against trying to become a tax haven on exiting the European Union.

WWII bomb removed from Frankfurt river turns out to be dud

After nearly 1,000 people were evacuated from their homes and hotel rooms in the German financial capital of Frankfurt, a World War II bomb was safely removed from the river Main on Sunday.

Deutsche Bank pays 95 million euros to settle tax avoidance suit

Embattled German lender Deutsche Bank has settled another of its US lawsuits after agreeing a 95-million-dollar payment, state prosecutors said.

Germany prepares for major coastal floods as severe winter hits

Germany was preparing for what could be the worst flooding to his its north-eastern coast since 2006, amid severe winter conditions across the country on Wednesday, according to weather services.

South Korea fines US chipmaker Qualcomm 1 trillion won

South Korea's competition authorities have fined US chipmaker Qualcomm 1 trillion won (850 million dollars) for unfair business practices, they announced Wednesday.

ECB says Italy's MPS bank needs billions more in rescue funds

Ailing Italian bank Monte dei Paschi di Siena (MPS) needs to fill a larger capital gap than originally reported, the Italian bank stated late Monday citing new figures from the European Central Bank.

Deutsche Bank, Credit Suisse agree to huge fines in US mortgage probe

Deutsche Bank and Credit Suisse have agreed to settle investigations into the fraudulent sale of mortgage-backed securities by paying 7.2 billion dollars and 5.3 billion respectively in the United States, the major German and Swiss banks said Friday.

Every third baby in Germany born to unmarried parents

Every third baby in Germany is born to unmarried parents, according to an annual study released on Monday.

Pilots resume negotiations with Lufthansa in long-running pay battle

Pilots working for Germany's flagship airline, Lufthansa, have returned to the negotiating table with their employers, marking progress in a long-running pay dispute that has dogged the company with strike action.

Frankfurt airport test-runs new automatic immigration system

Frankfurt airport was testing out a new automatic immigration system on Thursday, the first time such a system has been tried out in Germany.

Lufthansa pilots set to continue strike on Tuesday, Wednesday

Lufthansa pilots are set to continue their strike over salaries on Tuesday and Wednesday, the Vereinigung Cockpit pilots' union said late Sunday.

Pilots reject latest Lufthansa offer, but strike to end Sunday

A new wage package is on the table from Lufthansa as it seeks to end an open-ended pilots' strike.

Lufthansa cancels 912 flights as pilots strike enters second day

The strike by Lufthansa pilots in support of a pay demand went into its second day on Thursday, with the German flagship carrier cancelling 912 flights for the day, hitting the travel plans of some 100,000 long

Lufthansa cancels 912 flights for second day of strike on Thursday

Germany's flagship airline Lufthansa has cancelled 912 flights scheduled for Thursday, the second day of a strike by its pilots in a long-running and costly pay dispute.

Lufthansa pilots call 14th strike in salaries dispute

German pilots union Vereinigung Cockpit on Monday announced a strike at Lufthansa amid a salary dispute that has been ongoing for more than two years.

Report: Deutsche Bank considers cancelling millions in bonuses

Troubled German lender Deutsche Bank is thinking about cancelling millions in bonuses set aside for top managers as it tries to right its financial ship, the Sueddeutsche Zeitung newspaper reported Thursday.

Islam expert: Salafism is part of German youth culture

Salafism, an ultra-conservative strand of Sunni Islam that has a growing number of followers in Germany, is becoming part of the country's youth culture, according to a professor of ethno-religious studies at Frankfurt's Goethe University.

German police shut down right-wing concert at city hall

The police in central Germany prevented a concert from taking place in a town hall, where around 300 right-wing extremists had gathered.

Croatia to promote fledgling authors at Frankfurt Book Fair

Selected young Croatian authors will appear at this year's Frankfurt International Book Fair on October 19-23 under the motto "They're coming

German Air Traffic Control says 40 incidents with drones this year

There have been 40 incidents involving drones in German airspace this year, air traffic controllers said on Sunday.

Asylum seeker in Germany sets wife on fire, kills self

A Syrian asylum seeker died while lighting his wife on fire at a refugee shelter in western Germany, police said Thursday.

About 100 flights cancelled after Frankfurt airport security scare

About 100 flights were cancelled to and from Frankfurt airport on Wednesday after a security scare, a spokesman for airport operator Fraport said.

Flight crew prevents drunk pilot from taking off in Frankfurt

A drunk pilot who wanted to take off on a flight from Frankfurt to Colombo with more than 270 passengers on board was stopped by the cabin crew, according to a report from news site hessenschau.de on Sunday.

Police catch Munich shooter's suspected arms dealer in bogus sale

A weapons dealer thought to have sold a gun to the 18-year-old who carried out a deadly shooting rampage in Munich has been detained, German prosecutors said.

Meteorologists: German folk rule predicting weather has been spot-on

A German folk rule, which predicts that the weather on a traditional feast day will be repeated over the following seven weeks, has been spot-on this year, meterological experts have said.

Frankfurt tipped to be big winner from Brexit: study

German financial centre Frankfurt stands to emerge as a bigger winner from Britain's plans to leave the European Union, according a study released on Thursday.

German organic winemakers blame EU for spread of crop-spoiling mildew

Organic winemakers in Germany expect huge crop losses in the coming months as a mildew overtakes vineyards after an unusually rainy summer.

Lufthansa avoids naming new profit outlook amid terrorist threat

Lufthansa shied away from specifying a new full-year profit outlook for 2016 nearly two weeks after revising it downward, saying uncertainty due to terrorist fears made it hard to get an idea of how many people would book flights in the near term.

Deutsche Bank warns: more cost-cutting after reporting profit plunge

Deutsche Bank, Germany's biggest bank, posted a 98-per-cent plunge in second quarter profit on Wednesday, with the group's chief executive John Cryan warning that the company might now have to step up its cost-cutting and restructuring.

Bayer reports jump in earnings, but remained silent on Monsanto bid

German pharmaceutical giant Bayer AG reported on Wednesday an 18.6-per-cent rise in second quarter profit, as strong demand for pharmaceuticals helped offset a weaker performance by its agrochemical business.

Departure lounge: When hopes for German asylum end at the airport

For the unlucky few whose asylum claims are rejected almost immediately after their arrival in Germany, a two-storey building on the grounds of Frankfurt Airport becomes their temporary boarding house.

German stock exchange works council says new deal needed with LSE

The works council at Germany's Deutsche Boerse stock exchange has demanded key changes to the planned merger with the London Stock Exchange (LSE) following the British vote to leave the European Union, or Brexit.

Italy's intractable banking crisis spells trouble for Renzi and EU

Monte dei Paschi di Siena, the world's oldest bank, is the epicentre of growing scrutiny on Italian lenders in the wake of the Brexit referendum. The growing anxiety over Italy's banking sector puts Prime Minister Matteo Renzi's political future at risk.

Eintracht Frankfurt sign Croatia striker Rebic

Eintracht Frankfurt have signed Croatia striker Ante Rebic on loan from Italian Serie A side Fiorentina, the Bundesliga club said Tuesday.

German regulator: Merged stock exchange does not belong in London

Europe's most important stock exchange should not be based outside the European Union, Germany's financial regulator said Tuesday, criticizing merger plans by Germany's Deutsche Boerse and the London Stock Exchange (LSE) amid last week's Leave vote.

Pound, stock markets inch back up after Brexit shock

The pound edged up against the dollar on Tuesday, for the first time since Britain's vote to exit the European Union had sent it downward last week.

German police: Several injured in Frankfurt cafe explosion

Several people have been injured in an explosion that rocked a cafe in Frankfurt, German police said Monday.

Financial markets spooked by early Britain referendum results

Markets have reacted negatively to the news that the north-eastern British city of Sunderland voted strongly for leaving the European Union and that the lead of Remain ballots was smaller than expected in Newcastle-upon-Tyne.

If Britain leaves the EU will Frankfurt gain? The jury is divided

If British voters on June 23 say "No" to membership in the European Union, this could give a boost - at least temporarily - to financial centres around the EU that must now compete with London. Among others, Frankfurt could hope to benefit.

Opel suffers setback in attempt to fend off emissions-cheating claims

General Motors' Opel unit suffered a partial setback on Friday in its attempt to fend off emissions-cheating allegations, after a German court found some of its advertising claims to be misleading to customers and therefore inadmissable.

Thirty-five injured as lightning strikes during German football match

Thirty-five people, including 30 children, were injured when lightning struck during a football match in western Germany on Saturday.

Bayer eyes farming industry giant with 62-billion-dollar Monsanto bid

German pharmaceutical giant Bayer released details of a 62-billion-dollar cash offer for US agrochemical company Monsanto Monday, a deal that would create the world's largest provider of pesticides and crop seeds.

Opel lashes back at critics, says emissions system up to snuff

German carmaker Opel went on the defensive Friday, laying out arguments explaining how its technology is effective at reducing auto emissions and pushing back at recent criticism that its diesel cars put out more pollutants than advertised.

Spending on migrants helps boost German first-quarter growth

A surge in government spending to support the influx of migrants to Germany over the last year was one of the main drivers in first-quarter economic growth, Germany's statistics agency reported Friday.

ECB announces withdrawal of 500-euro banknotes

The European Central Bank (ECB) agreed on Wednesday to withdraw from circulation the 500-euro banknote because of its reputation as the preferred tool for illicit cash transactions.

ECB expected to announce withdrawal of 500-euro banknotes

The European Central Bank (ECB) is expected Wednesday to announce plans to withdraw from circulation the 500-euro banknote because of its reputation as the preferred tool for illicit cash transactions.

IQ tests planned in Germany to find refugee talent

The interior minister of the south-western German state of Saarland plans to use intelligence tests to find talented refugees and speed up integration.

Top German, British bourses agree to "industry-defining" merger

Germany's Deutsche Boerse and the London Stock Exchange said Wednesday they had agreed to the terms of an "industry-defining" merger that would bring Britain's FTSE 100, Germany's DAX and the Euro Stoxx 50 index under one roof.

Niko Kovac takes over at Eintracht Frankfurt

Eintracht Frankfurt Tuesday turned to former Croatia coach Niko Kovac to lead the club out of relegation danger.

German sites take focus in Europe-wide crackdown on cybercrime

Nine people were arrested in a series of raids on homes and offices across Europe as authorities banded together to tackle German-language cybercrime platforms, police said on Monday.

London, Frankfurt bourses warn Brexit is a risk to merger plan

The London and Frankfurt share markets warned Friday that Britain's June referendum on European Union membership posed a risk to their plans to forge a super bourse.

Report: German World Cup organizers paid FIFA for increased grant

New research by a German news magazine has thrown fresh doubts on a claim that the country's 2006 World Cup organizers made a payment to FIFA to secure a grant of some 170 million euros (187 million dollars) from football's governing body.

Bundesbank: Positive outlook in Europe despite deflation risk

The outlook for the German and eurozone economies is positive despite an increased risk of deflation, the head of Germany's central bank said Wednesday after announcing Bundesbank profits of 3.2 billion euros (3.5 billion dollars) for 2015.

Surge in European banking stocks trigger rebound in share markets

European bourses rebounded strongly on Wednesday, led by a surge in the region's banking stocks with shares in Germany's biggest lender, Deutsche Bank, rocketing by 13 per cent.

German police launch anti-terror raid, but no attack plans found

German detectives searched the flats of two men in an anti-terrorist raid in the western German city of Mainz on Sunday.

Credit Suisse to cut 4,000 jobs after massive loss

Credit Suisse will speed up its plan to cut 4,000 jobs, the major Swiss bank said Thursday, as it reported a net loss of 2.9 billion francs (2.7 billion dollars) in the last year.

Ford to cut hundreds of jobs in Germany, Britain in profit push

US carmaker Ford has announced it will slash hundreds of jobs, mainly in Germany and Britain, in an attempt to cut costs by 200 million dollars per year and increase profitability.

Unprecedented amount of counterfeit money withdrawn in 2015, says ECB

An unprecendented number of counterfeit euro notes were withdrawn from circulation worldwide in 2015, the European Central Bank (ECB) said in Frankfurt on Friday.

ECB rates on hold, but fresh monetary action could be in the pipeline

The European Central Bank is expected to leave interest rates on hold Thursday, but could signal plans for further monetary action in the coming months amid a sharp fall in oil prices and worries about global economic uncertainties.

European shares fall sharply on oil price worries, China

European and US shares fell sharply Wednesday amid a global market sell-off triggered by investor worries about the slide in oil prices and China's economic outlook.

SAP says cloud computing boosts business in preliminary 2015 report

German software maker SAP said cloud computing yielded strong returns for 2015 and promised a bright future as the company released a preliminary take on its 2015 finances on Tuesday.

Cologne assaults lead German cities to reassess security for carnival

The mass sexual assault on women around Cologne Central Station on New Year's Eve is leading to a reassessment of security during the main carnival events early next month. Cologne, along with other cities on the Rhine, is the main carnival centre.

Art lovers on tour in Europe this year face delectable choice

Discerning art-history fans visiting Europe this year will have a ton of choice, with museums in the major cities gearing up for some delectable special exhibitions that gather paintings from far and wide to compare in one room.

One injured after shots fired at refugee hostel in Germany

A 23-year-old refugee was injured when several shots were fired at a home for asylum seekers in a suburb of Frankfurt, police confirmed on Monday.

German 2015 inflation slows due to tumbling oil price

German inflation in 2015 slowed compared with the previous year due to low oil prices.

23-year-old Syrian injured after shots fired at hostel in Germany

A 23-year-old refugee was injured when several shots were fired at a home for asylum seekers in a suburb of Frankfurt, police confirmed on Monday.

Passengers on the flight Frankfurt - Belgrade stopped a Jordanian who tried to enter the cockpit

Passengers quoted by Belgrade media said the man banged on a cockpit door threatening to bring down the plane while it was flying over Austria if he was not allowed inside.