Frankfurt

FRANKFURT, Germany | German financial center of Frankfurt unveils new ‘Old City’

FRANKFURT, Germany — Germany’s financial capital of Frankfurt has unveiled its new “Old City” — 35 buildings reproduced in part an area that was destroyed during World War II bombings. Mayor Peter Feldmann officially opened the 200 million-euro ($234 million) project on Friday, declaring that “we are giving the city its heart and soul back.” … Continue reading FRANKFURT, Germany | German financial center of Frankfurt unveils new ‘Old City’

FRANKFURT, Germany | BMW expects hit from trade dispute and emissions tests

FRANKFURT, Germany — German luxury automaker BMW said Tuesday that its profits and sales will fall short of its forecasts this year, saying that fear of international trade conflicts has weighed on pricing and citing the impact of new emissions tests on European markets. The profit warning — the second from a major German automaker … Continue reading FRANKFURT, Germany | BMW expects hit from trade dispute and emissions tests

FRANKFURT, Germany | ECB’s Draghi: Trade war chief worry for global economy

FRANKFURT, Germany — The European Central Bank pushed forward Thursday with its plan to gradually phase out its monetary stimulus, saying it is confident in the region’s growth. But its president, Mario Draghi, warned that the United States’ trade dispute with several major powers has become a key economic concern. The chief monetary authority for … Continue reading FRANKFURT, Germany | ECB’s Draghi: Trade war chief worry for global economy

FRANKFURT, Germany | Monitor urges more openness at Volkswagen in wake of scandal

FRANKFURT, Germany — The official overseeing Volkswagen’s court settlements in its diesel scandal says he is pushing back against the company’s withholding of information under confidentiality rules. Larry Thompson said he has disagreed with Volkswagen’s use of attorney-client privilege to delete information from documents submitted to him. Thompson, a former deputy U.S. attorney general, make … Continue reading FRANKFURT, Germany | Monitor urges more openness at Volkswagen in wake of scandal

FRANKFURT, Germany | Trade cease-fire with Trump boosts German business optimism

FRANKFURT, Germany — A leading economic institute says its index of German business optimism rose in August thanks to an easing of trade tensions between the European Union and U.S. President Donald Trump. The index compiled by the Munich-based Ifo institute rose to 103.8 points from 101.7 in July. The result was better than the … Continue reading FRANKFURT, Germany | Trade cease-fire with Trump boosts German business optimism

FRANKFURT, Germany | New speculation on successor to European bank chief Draghi

FRANKFURT, Germany  — A German news media report has stirred new speculation about who will succeed Mario Draghi as head of the European Central Bank, one of the globe’s most powerful economic policy jobs. The Handelsblatt business publication, citing unnamed government sources, reported Thursday that Chancellor Angela Merkel is willing to drop plans to push … Continue reading FRANKFURT, Germany | New speculation on successor to European bank chief Draghi

FRANKFURT, Germany | Bayer shares plunge in wake of Monsanto weed killer verdict

FRANKFURT, Germany  — Shares in German farm chemicals, materials and drug company Bayer have plunged in the wake of a U.S. court verdict against Monsanto, which Bayer has acquired. Shares of Leverkusen-based Bayer fell 11 percent Monday in morning trading in Europe to 83.09 euros per share. A jury in U.S. federal court in California … Continue reading FRANKFURT, Germany | Bayer shares plunge in wake of Monsanto weed killer verdict

FRANKFURT, Germany | Spending on future tech eats into BMW quarterly profit

FRANKFURT, Germany— Luxury carmaker BMW says that net profit fell 6 percent in the second quarter as the company spent more on developing new technologies for electric, autonomous and digitally connected automobiles. Profit came in at 2.08 billion ($2.42 billion), down from 2.22 billion in the year-earlier quarter. Revenues fell 2.9 percent to 25.02 billion … Continue reading FRANKFURT, Germany | Spending on future tech eats into BMW quarterly profit