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Economy

KfW slammed for mistakenly wiring Lehman €300 million

State development bank KfW was assailed by the German government on Wednesday for mistakenly transferring €300 million ($427 million) to Lehman Brothers just as the US investment bank was collapsing.

Economy

Merkel demands better global financial regulation

German Chancellor Angela Merkel on Wednesday called for tighter regulatory control on the international financial system following the recent turmoil on Wall Street.

Economy

EU sees Germany headed for recession

The European Commission on Wednesday said Germany, along with other EU economic heavyweights Britain and Spain, was headed for recession this year.

Energy

Domestic energy prices will continue to rise

Domestic gas and electricity costs are likely to continue rising in Germany in the long term, even if costs dip a little first, according to head of energy giant RWE, Jürgen Großmann.

Jobs

Karstadt department store chain to cut 450 posts

The German department store Karstadt will cut up to 450 administrative posts at its headquarters in western Essen, a company spokesman said on Tuesday.