Germany
European Stocks Post First Weekly Decline Since October, Paced by Danone European stocks posted their first
weekly decline since October on concern the eight-month rally in
equities has outpaced the outlook for earnings growth and
central banks will withdraw stimulus measures.
DAX Index Declines for Second Day as Commerzbank, Deutsche Bank Retreat German stocks fell for a second day,
erasing their weekly advance, after European Central Bank
President Jean-Claude Trichet said the ECB will gradually
withdraw emergency cash.
Adidas Takes on North Face in $59 Billion Outdoor Market With $600 Jackets Adidas AG will start selling a new
range of 400-euro ($595) mountaineering jackets next year,
muscling in on The North Face’s turf as the outdoor-pursuits
market grows faster than traditional sporting goods.
Volkswagen Supervisory Board Approves Porsche Contracts in Move on Merger Volkswagen AG’s supervisory board
signed off on contracts for its takeover of Porsche SE in
stages, clearing the way for Europe’s largest automaker to add
the 911 sports car to its model lineup.
Morgan Stanley's James Gorman Says Capital Rules Are Simpler Than Breakup James Gorman, the designated
successor to Morgan Stanley Chief Executive Officer John Mack,
said applying different capital requirements to trading books
than to loans would be a better way to contain risks than
breaking up banks.
BC Partners' Brenntag Said to Renegotiate $3.6 Billion of Debt Before IPO Brenntag Holding GmbH, the German
chemicals distributor owned by private-equity firm BC Partners
Ltd., is in talks to renegotiate its 2.4 billion euros ($3.6
billion) of debt before it holds an initial public offering,
five people familiar with the matter said.
Munich Re's Ergo Drops KarstadtQuelle, Victoria, Hamburg-Mannheimer Brands Ergo Versicherungsgruppe, the
primary insurance unit of reinsurer Munich Re that dropped its
profit target two weeks ago, will withdraw three brands and sell
insurance in Germany under the Ergo label to boost growth.
Industrial Mittelstand Companies Face Credit-Crunch Threat, Schaeuble Says Germany’s medium-sized industrial
companies, the backbone of the economy, are threatened by a
looming credit crunch that’s forcing the government to consider
extra rescue measures, Finance Minister Wolfgang Schaeuble said.
German Government Bonds Set for Weekly Gain on View Stocks Rally May Stall German government bonds were little
changed, headed for the first weekly gain in three, as a decline
in producer prices fueled concern a rally in stocks may have
outpaced prospects for economic growth.
Economy to Grow More Slowly in Fourth Quarter as Job Fears Hurt Spending The German economy, Europe’s
biggest, will probably expand at a slower pace in the fourth
quarter than in the previous three months as job security
concerns dent private consumption, the Finance Ministry said.
`Biggest' Soccer Match-Fixing Scandal Yields 17 Arrests, German Police Say German prosecutors and police
arrested 17 people in European soccer’s biggest match-fixing
investigation, targeting leagues in nine countries.
Europeans Tussle for Regulatory Posts as Van Rompuy, Ashton Get Top Jobs The European Union’s major powers
began maneuvering to win jobs to regulate their $15 trillion
economy after leaders named Herman Van Rompuy as the EU’s first
president and Catherine Ashton as top diplomat.
Sarrazin Cleared by Prosecutors Over Magazine Comments on Turks in Berlin Bundesbank board member Thilo
Sarrazin was cleared by Berlin prosecutors over comments he made
in a magazine article regarding Turks and other immigrants in
the German capital, the prosecutor’s office said today in a
statement.
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