Items by By CARTER DOUGHERTY
NYT > Business
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E.C.B. Balances Support for Recovery With Demands of Its Master: Inflation
Posted: October 6th, 2009, 3:15pm EDT by By CARTER DOUGHERTY
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As the world economy claws its way out of recession, the European Central Bank is trying to stay true to its inflation-fighting mandate without crimping the upswing in Europe.
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Reinhard Mohn, 88, Dies; Built Bertelsmann Into a Giant
Posted: October 4th, 2009, 10:05pm EDT by By CARTER DOUGHERTY
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Mr. Mohn transformed Bertelsmann from a provincial, war-shattered German publisher into a global media giant.
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G-7 to Fade as I.M.F. Broadens Representation
Posted: October 4th, 2009, 11:56am EDT by By CARTER DOUGHERTY
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Dominique Strauss-Kahn of the International Monetary Fund said the Group of 7 had been all talk. It issued what may be one of its last statements.
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I.M.F. Upgrades Forecast for World Economies
Posted: October 1st, 2009, 10:13am EDT by By CARTER DOUGHERTY
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The fund’s latest report predicts a global expansion of 3.1 percent next year, better than its earlier forecast.
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I.M.F. Calls for Overhaul of Financial System
Posted: September 30th, 2009, 7:31am EDT by By CARTER DOUGHERTY
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Banks still have to write off $1.5 trillion in bad loans or worthless securities, the International Monetary Fund estimated in a new report.
NYT > Home Page
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I.M.F. Calls for Overhaul of Financial System
Posted: September 30th, 2009, 7:31am EDT by By CARTER DOUGHERTY
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Banks still have to write off $1.5 trillion in bad loans or worthless securities, the International Monetary Fund estimated in a new report.
NYT > Business
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Debate on Economy Muted as Germans Prepare to Vote
Posted: September 25th, 2009, 2:34am EDT by By CARTER DOUGHERTY
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The most important reason for the absence of any real economic debate, many analysts say, is that the stark choices Germany faces are bound to polarize the country.
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G-20 Is Urged to Raise Bank Reserves
Posted: September 21st, 2009, 2:49pm EDT by By CARTER DOUGHERTY
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Behind the appeal from regulatory experts is a fear that the political momentum for deep-seated reform may be waning as the financial crisis ebbs in intensity.
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Carmakers at Frankfurt Show Try to Shake Crisis Mentality
Posted: September 15th, 2009, 5:12pm EDT by By CARTER DOUGHERTY
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As the auto show starts, manufacturers are trying to put focus on selling cars and not the apocalyptic warnings about the industry.
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To Hopeful Makers, the Electric Car’s Time Is Here
Posted: September 13th, 2009, 9:30pm EDT by By CARTER DOUGHERTY
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After years of talk and prototypes, some manufacturers believe that the electric vehicle is poised to become more than just a science experiment.
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Despite the Downturn, a Polish City Thrives
Posted: August 31st, 2009, 4:15pm EDT by By CARTER DOUGHERTY
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Foreign investment is helping Lodz, Poland, and Poles who left the country are coming home to work.
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In Wake of Bankruptcy, a German Executive Faces Two Inquiries
Posted: August 24th, 2009, 8:31pm EDT by By CARTER DOUGHERTY
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Thomas Middelhoff, ex-chief executive of Arcandor, has been scrutinized over the company’s real estate deals and his administrative expenses.
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VW Seeks to Turn Nostalgia Into Sales in U.S.
Posted: August 21st, 2009, 11:05pm EDT by By CARTER DOUGHERTY
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A new VW plant in Chattanooga, Tenn., will produce a midsize sedan that has been designed for American tastes.
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In Europe, Economic Signs Point to a Recovery
Posted: August 13th, 2009, 1:32pm EDT by By CARTER DOUGHERTY
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The unexpected surge showed just how far Europe and the global economy had come since a harrowing free fall in late 2008.
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A Nascent Debate in Germany: Research or Manufacturing?
Posted: August 11th, 2009, 3:21pm EDT by By CARTER DOUGHERTY
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As more investment goes to research, Germans are confronting the idea that manufacturing may not be their economy’s indispensable foundation.
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Driving Out of Germany, to Pollute Another Day
Posted: August 8th, 2009, 2:25am EDT by By CARTER DOUGHERTY
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Germany’s “cash-for-clunkers” program is being undermined as cars that were supposed to have been junked are finding their way to markets in Africa and Eastern Europe.
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Deutsche Bank in Talks With European Private Bank
Posted: August 5th, 2009, 11:55am EDT by By CARTER DOUGHERTY
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The lender may take a stake in Sal. Oppenheim, which has been hit hard by investments that went sour in the financial crisis.
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Porsche Chief Was Biggest Casualty of His Battle for VW
Posted: July 23rd, 2009, 3:35pm EDT by By CARTER DOUGHERTY
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The departure of Wendelin Wiedeking marked a tumultuous end for Germany’s best-paid chief executive, a hyper-aggressive manager who ruffled feathers.
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Porsche Chief Fired; Prelude to Takeover by Volkswagen
Posted: July 23rd, 2009, 11:53am EDT by By CARTER DOUGHERTY
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Porsche fired its chief and approved plans for an investment by Qatar as a prelude to a merged company that will make Porsche the 10th brand in VW’s stable.
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Germany Has Been Slow to Fix Its Banks
Posted: July 15th, 2009, 8:31am EDT by By CARTER DOUGHERTY
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Companies want to be prepared when the global economy rebounds, but say lenders are squeezing them on credit.
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Catholicism as Antidote to Turbo-Capitalism
Posted: July 12th, 2009, 1:16am EDT by By CARTER DOUGHERTY
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Benedict XVI signing his encyclical last week.A papal encyclical and a best seller by a German archbishop argue that Catholic teachings can help set Western economics right.
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A Happy Family of 8,000, but for How Long?
Posted: July 12th, 2009, 12:11am EDT by By CARTER DOUGHERTY
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As demand recedes, a family-owned business where layoffs have been almost unheard of faces the possibility of cutbacks.
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Bertelsmann and K.K.R. Plan Venture to Sell Music Rights
Posted: July 8th, 2009, 9:46am EDT by By CARTER DOUGHERTY
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The new venture will combine Bertelsmann’s existing BMG Rights Management unit with KKR’s financial muscle.
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German Retail Group Arcandor Files for Bankruptcy
Posted: June 10th, 2009, 12:47am EDT by By CARTER DOUGHERTY
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Arcandor made the bankruptcy filing after the government rejected its request for emergency state aid.
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Latvia Races to Cut Deficit to Keep to Its Bailout Deal
Posted: May 24th, 2009, 2:18am EDT by By CARTER DOUGHERTY
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Forced into the arms of the International Monetary Fund, the Latvian government is slashing its budget in a bid to rebalance a society badly out of whack.
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At Least 3 Bids Likely for G.M.’s European Business
Posted: May 20th, 2009, 8:09am EDT by By CARTER DOUGHERTY
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The bids for Opel and Vauxhall will be reviewed simultaneously by the German government, which holds the key to financing any deal.
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E.U. Decline Steep: But Is the Worst Over?
Posted: May 15th, 2009, 3:35pm EDT by By CARTER DOUGHERTY
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The winter period, in which Europe went through an even steeper fall than the United States, probably represented the worst point in the economic cycle for Europe.
NYT > Home Page
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E.U. Decline Steep: But Is the Worst Over?
Posted: May 15th, 2009, 3:35pm EDT by By CARTER DOUGHERTY
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The winter period, in which Europe went through an even steeper fall than the United States, probably represented the worst point in the economic cycle for Europe.
NYT > Business
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Germany May Help Fiat With Opel Bid
Posted: May 4th, 2009, 11:30pm EDT by By CARTER DOUGHERTY
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Fiat’s chief, Sergio Marchionne, met with German officials to discuss a loan to buy a stake in Opel, with a promise to keep Opel’s three main German plants open.
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J.C. Flowers Has No Allies in Battle Over Hypo Real Estate
Posted: April 28th, 2009, 1:41am EDT by By CARTER DOUGHERTY
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A former Goldman Sachs executive tries to salvage what is left of his investment in Hypo Real Estate.
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Troubled Polish Port City Can’t Wait for Euro
Posted: April 22nd, 2009, 12:54am EDT by By CARTER DOUGHERTY
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The euro still has plenty of appeal in parts of Poland, particularly for people and businesses who have to make do without it.
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Poland Gets $20 Billion Credit Line From I.M.F.
Posted: April 15th, 2009, 1:48am EDT by By CARTER DOUGHERTY
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The finance minister said the funds would bolster the Polish central bank’s reserves and help protect the country’s economy.
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Central Banks in Europe Cut Rates
Posted: March 5th, 2009, 9:43am EST by By CARTER DOUGHERTY
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In addition, the British bank announced plans to pump money into the economy by spending $105 billion to buying assets.
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E.U. Leaders Turn to I.M.F. Amid Financial Crisis
Posted: February 23rd, 2009, 3:18am EST by By CARTER DOUGHERTY
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European leaders called for a doubling of the resources of the International Monetary Fund to help head off problems in countries hit by the global financial crisis.
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Financial Crisis Dims Hopes for Giant Cross-Border Banks in Europe
Posted: January 30th, 2009, 12:45am EST by By CARTER DOUGHERTY
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Because of the financial crisis, banks are retrenching and refocusing on their home markets, all but abandoning ambitions of banking on a Continental scale — or bigger.
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European Central Bank Cuts Key Rate
Posted: January 16th, 2009, 1:42am EST by By CARTER DOUGHERTY
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The European Central Bank decided to lower its main interest rate by half of a percentage point to 2% amid mounting evidence of lower prices and weaker activity.
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German Economy Shrank in Last Quarter
Posted: January 15th, 2009, 12:56am EST by By CARTER DOUGHERTY
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The German economy contracted by up to 2 percent in the last quarter of 2008 as tumbling exports took their toll.
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Deutsche Bank in Deal to Diversify Its Business
Posted: January 15th, 2009, 12:25am EST by By CARTER DOUGHERTY
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The global economic downturn weighed heavily on fourth quarter earnings at Germany’s biggest bank.
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Town Mourns Typical Businessman Who Took Atypical Risks
Posted: January 13th, 2009, 8:04am EST by By CARTER DOUGHERTY
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The suicide of the German billionaire Adolf Merckle shocked the nation as much as it angered his tiny town, where he was eulogized at a service that overflowed the church.
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German Bank Gets More Money From Government
Posted: January 9th, 2009, 3:37am EST by By CARTER DOUGHERTY
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The government took a quarter stake in Commerzbank as it stepped up efforts to stabilize the financial system and consolidate one of Europe’s most fragmented banking landscapes.
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Germany Suffers as U.S. Buys Less From China
Posted: December 29th, 2008, 5:00pm EST by By CARTER DOUGHERTY
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The United States, with its credit-driven economy, has long ensured that others, notably China, Germany and Japan, have been able to pile up trade surpluses. Now that dynamic has shifted.
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Germany Suffers as U.S. Buys Less From China
Posted: December 29th, 2008, 5:00pm EST by By CARTER DOUGHERTY
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The United States, with its credit-driven economy, has long ensured that others, notably China, Germany and Japan, have been able to pile up trade surpluses. Now that dynamic has shifted.
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Memo From Berlin: Allies See Germany Trying Bailout With a Thimble
Posted: December 17th, 2008, 1:09am EST by By CARTER DOUGHERTY
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The country’s neighbors and many of its politicians are criticizing the government for spending plans that seem tight-fisted compared to what European countries or the U.S. are preparing.
NYT > Home Page
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Siemens to Pay $1.34 Billion in Fines
Posted: December 15th, 2008, 4:08pm EST by By CARTER DOUGHERTY
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By agreeing to the record fines, the German engineering conglomerate closes the book on wide-ranging criminal investigations in the United States and Germany.
NYT > Business
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3 European Central Banks Cut Rates
Posted: December 5th, 2008, 1:54am EST by By CARTER DOUGHERTY
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The steep cuts are meant to lower borrowing costs as the global downturn worsens.
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Some Nations That Spurned the Euro Reconsider
Posted: December 1st, 2008, 10:22pm EST by By CARTER DOUGHERTY
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European governments that have been forced to defend their currency now see a value in a common currency.
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Deutsche Rejects a Rescue, Even as Its Shares Tumble
Posted: December 1st, 2008, 10:21pm EST by By CARTER DOUGHERTY
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Deutsche Bank fancies itself an exception to the view that giant banks need rescuing. But the markets will have the final word, and so far they are not buying the story.
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Few Takers So Far as Europeans Make Financial Rescue Packages Available
Posted: October 18th, 2008, 1:10am EDT by By CARTER DOUGHERTY
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Many banks are reluctant to seek cash from governments because of the message it might send to financial markets and executives’ worries about accepting limits on decision-making and pay.
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Overseer of Banks in Europe Shifts Focus
Posted: October 16th, 2008, 9:57pm EDT by By CARTER DOUGHERTY
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Jean-Claude Trichet, president of the European Central Bank, has waded into the highly politicized question of recapitalizing European banks.
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Lehman’s ‘Certificates’ Proved Risky in Germany
Posted: October 15th, 2008, 1:11am EDT by By CARTER DOUGHERTY
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To tens of thousands of German residents with modest investments, the Lehman collapse hit close to home.
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Estonia’s Let-It-Be Economy Is Rattled by Worldwide Distress
Posted: October 9th, 2008, 10:09pm EDT by By CARTER DOUGHERTY
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Estonia, the former Soviet republic that has embraced capitalism, is reluctantly turning to state intervention as it confronts an economic slowdown.
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Battling Corruption as the Sheriff at Siemens
Posted: October 6th, 2008, 6:09pm EDT by By CARTER DOUGHERTY
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For many years, corruption was extensive at Siemens. It is Peter Y. Solmssen’s task to root it out.
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Europe Opens Door to Easing in Rates
Posted: October 3rd, 2008, 8:24am EDT by By CARTER DOUGHERTY
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The European Central Bank hinted that an interest rate cut could come as early as November, in a sharp pivot that comes as leaders grapple with a financial crisis.
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Stopping a Financial Crisis, the Swedish Way
Posted: September 23rd, 2008, 2:29am EDT by By CARTER DOUGHERTY
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When they faced a financial crisis similar to the United States’ in the early 1990s, Sweden took equity in the banks to protect taxpayers.
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Allianz in ‘Advanced Talks’ on Dresdner Sale
Posted: August 30th, 2008, 4:12am EDT by By CARTER DOUGHERTY
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With the planned sale of Dresdner Bank to Commerzbank, Allianz is set to abandon the biggest experiment in German finance of the last decade in favor of a global trend: focusing on core competencies.
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Data Points to Downturn in Germany, With a Ripple Effect Feared
Posted: August 26th, 2008, 10:48pm EDT by By CARTER DOUGHERTY
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The odds of a mild recession in Germany rose significantly Tuesday, as data showed the outlook for business had plunged to its lowest level since a downturn in 1993.
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Shift at the Top Emphasizes SAP’s Bottom Line
Posted: August 25th, 2008, 2:44am EDT by By CARTER DOUGHERTY
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Executive changes at the software maker SAP have fed an irresistible narrative in financial markets: the software egghead is yielding to the uncompromising money maker.
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Europe Tries to Handle Political Fallout of Pension Cuts
Posted: August 6th, 2008, 8:29am EDT by By CARTER DOUGHERTY
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Faced with an aging population, much of Europe is trying to address the pressing need for change in national pension systems, balancing rising costs with political pressure.
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Auto Parts Maker Warily Embraces Offer From Rival
Posted: July 23rd, 2008, 3:52pm EDT by By CARTER DOUGHERTY
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The German auto parts giant Continental warily embraced a takeover approach from the Schaeffler Group, but it rejected the current offer as inadequate.
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Inflation in Europe Stirs Debate Over Rates
Posted: July 1st, 2008, 12:45am EDT by By CARTER DOUGHERTY
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Inflation in the euro area surged to a record 4 percent for the 12 months ending in June, fueling a debate about whether several interest rate hikes are now necessary.
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Confronting Inflation, on Separate Continents
Posted: June 23rd, 2008, 10:14pm EDT by By CARTER DOUGHERTY
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The European Central Bank and the Federal Reserve are concerned that a psychology of inflation is setting in, where consumers expect the long run of rising prices.
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Ex-Manager Tells of Bribery at Siemens
Posted: May 27th, 2008, 3:05pm EDT by By CARTER DOUGHERTY
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An ex-manager at the European engineering company testified on Monday that his role in an intricate system of slush funds and bribery at the company was an open secret.
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German Bank Sets Bigger Write-Down
Posted: April 4th, 2008, 4:26am EDT by By CARTER DOUGHERTY
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The write-down announced by BayernLB is double its previous estimate, more evidence that the contagion from the tight credit market continues to spread to state-owned banks.