MUNICH (Reuters) - A German court has ordered auto maker Volkswagen AG’s (VOWG_p.DE) truck unit to pay 300 million euros ($350 million) to shareholders in MAN SE (MANG.DE), ending a long-running court battle over its buyout offer. FILE PHOTO: A Volkswagen logo is pictured during the Volkswagen Group's annual general meeting in Berlin, Germany, May 3, 2018. REUTERS/Axel Schmidt/File Photo Minority shareholders in MAN will receive a gross annual payment of 5.50 euros per share, which is 2.20 euros more than Volkswagen has paid. They can also, within two months, hand over their shares in return for a payment of 90.29 euros each, MAN said in a statement. That compares to 80.89 euros previously offered by Volkswagen. The ruling by the Munich Higher Regional Court, which confirms a lower court decision and is final, resolves a dispute dating back to a domination and profit transfer agreement signed in 2013 after VW acquired just over 75 percent of MAN’s shares. … [Read more...] about German court orders Volkswagen to pay MAN minorities 300 million euros
This article is available to Members of The Local. Read more Membership Exclusives here. Spend a day in central Berlin and you might begin to wonder what the official language is. There will be the coffee shop with a sign proclaiming “We accept Sofortüberweisung,” or young Germans on the U-Bahn who say “Oh nice!” when hearing about the “highlight” rather than the Höhepunkt of a friend’s weekend. Then they might grumble that a concert got gecancelt. Is Denglisch becoming so ubiquitous that it is causing the German language itself to go extinct? Not exactly, Free University of Berlin linguistics researcher Dr. Britta Schneider tells The Local. Rather, it’s causing the language to evolve, bringing in more English words and phrases that simply become part of the Deutsch vocabulary after a while. This causes the original German words to either be used very sparingly, informally or not at all. Now Germans will say computer … [Read more...] about Could Denglisch one day kill off German?
What is the problem? Germany's conservative parties are a little like two crime families who work together as long as one stays off the other's turf. This has worked out pretty well over several decades as the CSU have sat in power in Munich, while the CDU dominated politics on the federal level. There were unwritten rules to their collaboration though. Whereas the mafia (at least in the films) drew a line at bringing drugs into the country, the unspoken code of German conservative politics was: no immigrants (or at least, not too many). When Angela Merkel decided not to close the borders as thousands of refugees crossed the border in 2015 she broke this rule. Ever since then the ageing boss of the CSU, Horst Seehofer, has been seething. Throw into the mix a hot-headed upstart who is challenging Seehofer's grip on power in the CSU and you not only have the ingredients for a ropy Hollywood movie, but also for real-life German politics. Now Interior Minister, Seehofer has loudly … [Read more...] about Analysis: Is one man about to collapse German politics as we know it?
Published June 29, 2018 Markets Associated Press Facebook Twitter Comments Print The German parliament has approved a debt relief package for Greece that is meant to help wean the country off its rescue loans as its eight-year bailout program comes to a close. Lawmakers in Berlin voted 410-226 on Friday to support the package, which Greece's European creditors and the International Monetary Fund agreed on last week. There were seven abstentions. Continue Reading Below Finance Minister Olaf Scholz told parliament that "what we are sending here is a signal of European solidarity." He said that Greece will be able to stand on its own two feet after the bailout program concludes in August and "Greece is on the right path." Greece will remain under enhanced supervision by its creditors. … [Read more...] about German parliament approves Greece debt-relief package
Updated 12:57 am, Friday, June 29, 2018 Photo: Virginia Mayo, AP Image 1of/1 CaptionClose Image 1 of 1 German Chancellor Angela Merkel arrives for an EU summit at the Europa building in Brussels, Thursday, June 28, 2018. European Union leaders meet for a two-day summit to address the political crisis over migration and discuss how to proceed on the Brexit negotiations. less German Chancellor Angela Merkel arrives for an EU summit at the Europa building in Brussels, Thursday, June 28, 2018. European Union leaders meet for a two-day summit to address the political crisis over ... more Photo: Virginia Mayo, AP Business groups urge German government to end bickering 1 / 1 Back to Gallery BERLIN (AP) — Germany's most influential business organizations are calling for an end to bickering within Angela Merkel's … [Read more...] about Business groups urge German government to end bickering