Top managers of Deutsche Bank should forego salary

Frankfurt Deutsche Bank boss Christian Sewing has a new mantra: “This time we are part of the solution.” Unlike the financial crisis, the bank should not be a burden but a blessing for society during the pandemic. Sewing apparently sees the corona crisis as an opportunity to repair the battered image of the money house. […]

US tech company IBM announces job cuts

IBM The US tech group IBM is also feeling the effects of the global recession. (Photo: dpa) Armonk The US tech group IBM has announced extensive job cuts in the corona crisis. The decision was probably a unique and difficult situation for some employees, a spokesman for the company said on Thursday (local time) in […]

Rescue comes to a halt – the federal government makes new demands

Lufthansa rescue is delayed The federal government is demanding that Lufthansa renew its fleet and accept all aircraft ordered from Airbus. (Photo: dpa) Berlin, Frankfurt The rescue of the financially troubled airline Lufthansa is delayed. In the final phase of the talks, the federal government raised new demands that would make remediation almost impossible, informed […]

Rating agency Moody’s warns of “substantial risk” at Tui

Empty luggage straps at the Tui check-in Even before the corona crisis in December, Moody’s had downgraded the Hanoverian group’s credit rating to “speculative”. (Photo: dpa) Dusseldorf A week after the presentation of Tui’s quarterly figures, the rating agency Moody’s on Wednesday drastically tightened the warnings of a credit default by the holiday provider by […]

Thyssen-Krupp believes the steel business could merge with Salzgitter

Martina Merz “We trust each other, that’s a good basis for discussions.” (Photo: Reuters) Munich The industrial group Thyssen-Krupp considers a fusion of its steel business with its competitor Salzgitter possible. “Of course, many are interested in a German solution. We have a lot of creative freedom, ”said Thyssen Krupp boss Martina Merz of the“ […]

Tui is considering separating losers

Tui boss Fritz Joussen Joussen demands that the loss-making parts of the company cut costs. (Photo: dpa) Frankfurt Travel company Tui is considering separating loss-makers. A company spokesman confirmed a corresponding report from the “Frankfurter Allgemeine Zeitung” (Tuesday) on Monday evening. First of all, however, an attempt should be made to make the corresponding parts […]

Thyssenkrupp is looking for partners for the steel and marine division

Dusseldorf The corona crisis is forcing the Essen-based industrial group Thyssen-Krupp to adjust its strategy. On Monday, CEO Martina Merz presented the supervisory board with a new concept for the further development of the conglomerate, Thyssen-Krupp announced the evening after the meeting. After the sale of the profitable elevator division, the group wants to concentrate […]

Deutsche Bahn: Savings plans cause unrest

Dusseldorf Railway chief Richard Lutz’s plans to save personnel costs of more than two billion euros due to the consequences of the corona crisis are causing concern. On Monday, group works council chief Jens Schwarz said the demand “for concessions from the employees is the wrong signal, unsolidarity and misjudges the performance of the employees”. […]

Deka wants to discharge the board of directors and the supervisory board of Deutsche Bank

Deutsche Bank CEO Christian Sewing The fund company Union Investment already announced last week that it would vote to discharge the board of directors and the supervisory board. (Photo: Reuters) Frankfurt Deutsche Bank major shareholder Deka wants to stand behind the management board and supervisory board of Germany’s largest financial institution at the general meeting. […]

“This is not a cold capitalism”

Stuttgart, Dusseldorf Social peace is endangered in the family business Voith. The workforce in Sonthofen has been on strike for several weeks. Voith CEO Toralf Haag and Chairman of the Supervisory Board Siegfried Russwurm want to close and merge turbo gear plants. The talks with the employee side go into the final round. The case […]