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Economy

ECB Raises Interest Rates Amid Soaring Inflation

European Central Bank headquarters in Frankfurt

The European Central Bank (ECB) raised its main interest rate to 4.25 percent on Thursday, its first increase in more than a year amid spiraling euro zone inflation and soaring oil prices. »

 

Fashion

Marimekko Fights Dolce & Gabbana Over Famous Flowers

A summer dress in a Marimekko pattern

The Finnish textile design company is fighting Italian fashion house Dolce & Gabbana to protect a trademark on its signature "Unikko" poppy print. »

 

Corruption

Siemens Hit by Corruption Charges in Greece, Norway

money changing hands

Embattled engineering giant Siemens, under investigation in Germany for allegations of bribery and corruption, was dealt another blow this week as faced charges of bribing politicians in Greece and a fine in Norway. »

 

China

Steiff Halts Production in China Over Quality Concerns

Steiff Knut bear

While more and more toys sport "Made in China" labels, high-end stuffed animal maker Steiff is going against the flow. It moved production to China four years ago, but is now bringing it back to Germany.  »

 

Corruption

German Firms Face Court Over Saddam-Era Kickbacks in Iraq

Woman sells food at an Iraqi market

The Iraqi government has slapped dozens of foreign companies with a 6 billion-euro ($10 billion) civil lawsuit. German companies Daimler, Siemens and B. Braun were among those accused of colluding with Saddam Hussein. »

 

Business

Deutsche Post Triumphs in Billion-Euro Brussels Row

A letter is posted thrpugh a Deutsche Post letterbox

Germany's former postal monopoly, Deutsche Post has won a six-year legal battle with the EU Commission earning the right from the European Court to claim back up to 1 billion euros ($1.6 billion) from the government. »

 

Business

German Unemployment Falls in June, Surprising Forecasters

Picture of employment office

German unemployment fell more than forecast to a 16-year-low in June, the nation's labour agency said Tuesday, adding to signs that Europe's biggest economy is withstanding softer world economic growth. »

 

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