finance
Germany's Commerzbank is on track to achieve the record profits it is aiming for this year after seeing its best quarterly results since the start of 2011. "We have started the new year with a lot of momentum. The strong customer business and the very good result in the first quarter confirm our goal of increasing profits in 2024," said chief executive Manfred Knof on Wednesday. The fact that interest rates are not falling as quickly as expected a few months ago plays into the hands of Commerzbank with its focus on small- and medium-sized entreprises (SMEs) and private customers. However, the ...
DPA
Germany's Commerzbank is on track to achieve the record profits it is aiming for this year after seeing its best quarterly results since the start of 2011. "We have started the new year with a lot of momentum. The strong customer business and the very good result in the first quarter confirm our goal of increasing profits in 2024," said chief executive Manfred Knof on Wednesday. The fact that interest rates are not falling as quickly as expected a few months ago plays into the hands of Commerzbank with its focus on small- and medium-sized entreprises (SMEs) and private customers. However, the ...
DPA
Germany's Postbank and trade unions have reached a wage deal after almost three months of talks and repeated strikes, the company and unions announced on Thursday. In the fifth round of negotiations on Wednesday, unions and employers agreed on salary increases in two stages as well as an extension of protection against dismissal until the end of 2027. Postbank, a subsidiary of German banking giant Deutsche Bank, has been negotiating for months with the German Bank Employees' Association (DBV) and the trade union verdi, who together represent about 12,000 employees. Customers can breathe a sigh...
DPA
Germany's Postbank and trade union leaders have reached a wage deal after almost three months of talks and repeated strikes, the company and unions announced on Thursday. In the fifth round of negotiations on Wednesday, unions and employers agreed on salary increases in two stages as well as an extension of protection against dismissal until the end of 2027. Postbank, a subsidiary of German banking giant Deutsche Bank, has been negotiating for months with the German Bank Employees' Association (DBV) and the trade union verdi, who together represent about 12,000 employees. Customers can breathe...
DPA
Trade union leaders have asked workers at Germany's Postbank to authorize indefinite strikes against the bank after the latest round of collective bargaining talks fell short of a deal on wage and job security demands. Postbank, a subsidiary of German banking giant Deutsche Bank, has been negotiating for months with the German Bank Employees' Association (DBV) and the trade union verdi, who together represent about 12,000 employees. If workers authorize further action against Postbank, then renewed strikes could begin anytime after May 3, according to DBV. There have already been a number of s...
DPA
German Finance Minister Christian Lindner has laid out a plan for the country to increase defence funding in the coming years and continuously meet the NATO alliance's spending targets in an interview with dpa. Lindner said money from a €100 billion ($107 billion) special defence fund created in 2022 in the wake of Russia's full-scale invasion of Ukraine would help boost spending in the coming years. The NATO alliance has called on all member countries to spend at least 2% of gross domestic product (GDP) each year on defence. The German special fund is expected to last until 2027. Lindner deni...
DPA
German Finance Minister Christian Lindner has laid out a plan for the country to increase defence funding in coming years and continuously meet the NATO alliance's spending targets in an interview with dpa. Lindner said money from a €100 billion ($107 billion) special defence fund created in 2022 in the wake of Russia's full-scale invasion of Ukraine would help boost spending in the coming years. The NATO alliance has called on all member countries to spend at least 2% of gross domestic product (GDP) each year on defence. The German special fund is expected to last until 2027. Lindner denied m...
DPA
German Finance Minister Christian Lindner has laid out a plan for the country to increase defence funding in coming years and continuously meet the NATO alliance's spending targets in an interview with dpa. Lindner said money from a €100 billion ($107 billion) special defence fund created in 2022 in the wake of Russia's full-scale invasion of Ukraine would help boost spending in the coming years. The NATO alliance has called on all member countries to spend at least 2% of gross domestic product (GDP) each year on defence. The German special fund is expected to last until 2027. Lindner denied m...
DPA
The French financial services major, BNP Paribas, said on Monday that it was launching a share repurchase program worth €1.055 billion ($1.14 billion). The repurchase period begins on Monday and will end no later than April 23. The shares repurchased under the program will be cancelled.
DPA
According to credit insurer Allianz Trade, companies worldwide will face an increase in insolvencies for the third year in a row in 2024. "This trend will also apply to Germany - albeit with a delay compared to most other European countries," predict the economists at the Hamburg-based Allianz branch. "According to the Allianz Trade Insolvency Study, the ongoing economic weakness, structural challenges and tighter financing conditions are likely to cause even more German companies to get into financial difficulties in 2024." According to the study, the number of insolvencies among German compa...
DPA
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