finance
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
Frankfurt was the right choice to host the European Union's new anti-money laundering agency (AMLA) because it's also the home of the European Central Bank, Germany's finance minister said on Friday. "Our strong argument was that proximity to the European Central Bank could be advantageous for the work of the new authority," Christian Lindner told reporters in Ghent, Belgium. "Obviously our arguments have convinced many." Frankfurt was chosen to host the new agency by representatives from the EU member states and the European Parliament on Thursday. The German financial centre beat competition...
DPA
The new EU anti-money laundering agency (AMLA) is to be in Frankfurt, representatives from the EU member states and the European Parliament agreed on Thursday in Brussels. Frankfurt beat competition from Paris, Brussels, Madrid, Dublin, Riga, Vilnius, Vienna and Rome to host the new EU agency. German Finance Minister Christian Lindner pushed hard for Frankfurt to host the agency. He told a public hearing in the parliament in January that in Frankfurt, the agency would everything it needs to be operational from day one. The European Commission first proposed establishing the agency back in 2021...
DPA
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