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Business News from Germany by and several sources, collected all on one platform! Want to have your business news listed with us?  Contact us

Deutsche Bank back in US regulators' crosshairs

The Federal Reserve Bank of New York has sharply criticized Deutsche Bank for "shoddy financial reporting." This assessment was first made public by the Wall Street Journal, which quoted a letter to the German lender. more >>

Could another banking crisis happen in Europe?

Whenever a bank in Europe gets into serious trouble, the specter of systemic financial crisis raises its head again. Is the risk real or imagined? more >>

Daimler profits rise on new models and cost cuts

German premium carmaker Daimler has reported a 12-percent rise in second-quarter profit thanks to strong demand for its latest Mercedes cars. An efficiency program was also 'bearing fruit,' its CEO says. more >>

China arrests five in expired meat scandal

Chinese police have arrested five employees of US food supplier OSI Group. The company is accused of selling expired beef and chicken to fast food giants including McDonald's and KFC. more >>

Argentina's default deadline looms

Argentina is facing bankruptcy, its government is facing political crisis, and US hedge funds are facing millions in losses. The various parties now have a week to find a solution. more >>

New York judge orders round-the-clock Argentine debt talks

A federal judge in New York has insisted on non-stop negotiations for Argentina to avert its second default in 13 years. A court hearing only added to the precariousness surrounding a deadline later this month. more >>

Credit Suisse logs biggest quarterly loss since 2008

Swiss bank Credit Suisse has reported a huge second-quarter loss as it struggles to overcome a major fine from US tax authorities. But the bank said restructuring its investment arm would help get it back on track. more >>

Saudi Arabia to open up its huge stock market

Saudi Arabia has said foreign investors will soon be allowed access to its massive stock market. The planned deregulation could spur a massive influx of capital into some of the kingdom's biggest companies. more >>

Eurozone public debt surges

Public debt in the 18-member eurozone soared to a record high in the first quarter of 2014. The embattled economies of southern European nations accounted for much of the increase. more >>

Prokon creditors to decide future of German wind farm group

Shareholders in insolvent German wind farm operator Prokon have gathered to choose between two restructuring plans at one of the biggest shareholder meetings ever in German corporate history. more >>

Prokon investors vote to sell some assets of insolvent German wind farm group

A majority of shareholders of the insolvent German wind farm operator Prokon have voted in favor of a restructuring plan that could see creditors recoup at least some of their original investment. more >>

Japan cuts 2014 growth outlook

Japan has cut its growth forecast for this year, pointing to weak exports, rising imports, and the impact of a recent increase in the value-added tax. Falling worker incomes also played a role. more >>

Netflix to expand in Europe in September

US video streaming portal Netflix has announced it will launch its services in an additional six European countries in early autumn. The expansion comes on the back of strong revenue growth and rising subscriptions. more >>

OECD publishes standard to combat global tax fraud

The Organization for Economic Cooperation and Development (OECD) has published new international standards for the exchange of information between tax bodies to rein in fraud around the world. more >>

New food scandal in China hits McDonald's, KFC and Pizza Hut

A new food safety scare has hit McDonald's, KFC and Pizza Hut in China after a supplier was caught selling the chains expired meat. The scandal may tarnish consumers' already strained confidence in China's food industry. more >>

German businesses face rising threat of industrial espionage

Nearly half of German businesses have been attacked at least once by hackers or cyber spies, a new survey has revealed. The thieves are out to steal innovations and know-how, causing billions of euros in damages. more >>

German tax revenue swells in June

Federal and state authorities in Germany have watched their tax revenues rise steadily as of late and the month of June was no exception. The Finance Ministry reported the domestic labor market was "gratifyingly robust." more >>

Aldi co-founder Karl Albrecht dead at 94

Aldi co-founder Karl Albrecht has died at the age of 94. The billionaire discount supermarket tycoon was believed to be the richest person in Germany. more >>

Qatar announces labor reforms for foreign workers

Qatar, host nation for the 2022 World Cup, has announced measures to protect foreign workers aimed at ensuring they are properly paid and won't be forced to work in the extreme heat of midday in summer. more >>

German DIHK trade group warns of Russian sanctions fallout

Germany as a leading trading nation is suffering from the adverse effects of sanctions against Russia, the commerce lobby group DIHK has said. Exporters doing business with both Russia and the US are especially hit. more >>
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