Tag Archive
Auf Wiedersehen Recession – US-FOREX.US
It seems like exceptionally good news. Germany, Europe’s biggest economy, has just confounded expectations and emerged from its recession, thanks to reporting a quarter-on-quarter growth rate of 0.3% for the second quarter, instead of the contraction of 0.2% that was expected. A margin of five basis points is quite a difference-but don’t get too excited…. »
Commerzbank Feels Germanys Pain – US-FOREX.US
It’s not easy being Commerzbank. Whereas other European heavyweights like Barclays, Societe Generale and BNP Paribas have reported strong second-quarter profits, boosted by a turnaround in investment banking, the German lender’s heavier dependence on retail banking resulted in a second-quarter 1 billion loss on Thursday. And with Europe’s biggest economy expected to shrink 6% this… »
Oppenheim Opens Its Doors – US-FOREX.US
German financier Salomon Oppenheim, Jr. would be turning in his grave. The private bank he founded 220 years ago, Sal. Oppenheim & Cie., has opened its books for the first time in more than a century to an outside investor-Germany’s Deutsche Bank. The “strategic partnership” being discussed could lead to Deutsche Bank taking a minority… »
Another Small Meal For Deutsche Bank – US-FOREX.US
Germany’s Deutsche Bank likes nibbling rather than swallowing. It announced on Wednesday a potential “strategic partnership” with venerable 220-year-old Luxembourg-based private bank Sal. Oppenheim, but sources close to the talks say Deutsche is only interested in taking a minority stake-”anything between zero to 49%.” Nor is this the first time: Six months ago, Deutsche Bank… »
No Joy For Deutsche Bank – US-FOREX.US
Once the straw that broke the camel’s back, investment banking has now been the saving grace of lenders like Banco Santander, Goldman Sachs and Credit Suisse, as it offset rising defaults amongst consumers and businesses. Not so for Deutsche Bank.Shares in the German bank tumbled 7% on Tuesday morning, as it set aside 1 billion… »
The Big German Export Gamble – US-FOREX.US
Forget Germany’s rather tepid climate for a moment and imagine that its economy is like a tropical island: When times are sunny, life is exceedingly good, and when hurricane season comes around, times are quite the opposite. Such is the case with the country’s heavy reliance on exports, with manufacturers like Daimler
, BMW
Siemens and Bayer
making… »
Spying Troubles For Deutsche Bank – US-FOREX.US
What does German financial giant Deutsche Bank have in common with Deutsche Telekom, the country’s biggest telecom firm, German supermarket chain Lidl, and rail operator Deutsche Bahn? They’ve all been plagued by alleged spying scandals that have brought back chilling memories of the Cold War. The Frankfurt Federal Prosecutors Office is looking into whether to… »
Deutsche Bank Set For Success – US-FOREX.US
Goldman Sachs and JPMorgan, riding the tailwind of government support and record-low interest rates, reported solid quarters. Germany’s Deutsche Bank, which benefited from the U.S. bailout efforts by taking government money through AIG, is also looking at a strong quarter.The figures suggest that “Deutsche Bank will report the strongest second-quarter results,” wrote Nomura European banking… »
Porsche VW Seen Close To Deal – US-FOREX.US
It looks like the auto industry’s biggest soap opera is almost over. German carmaker Volkswagen is on the verge of buying half of Porsche’s car-making business, according to German press reports, while the sheikh of Qatar is buying a stake in Porsche and options that control 20% of Volkswagen shares, from Porsche. This could put… »
German Cloud For Europe – US-FOREX.US
An unexpected drop in investor confidence in Germany this month bodes badly for the continent into next year.
The monthly ZEW index of analyst and investor expectations in Germany fell to 39.5 in July from 44.8 in June, an unexpected drop and the first since sentiment began to rebound last November. “We have had an upswing… »