Credit bureau to trawl Facebook for information
Germany’s biggest credit bureau Schufa plans to tap social networks such as Facebook and Google Street View in a huge data trawl for personal information to use in deciding whether a person is credit-worthy.
President to face TV grilling on loan scandal
German President Christian Wulff said Wednesday he will submit to a TV interview on the spiralling loan scandal threatening to engulf him. The interview will be aired the same evening.
Deutsche Bank chief doubts Greece can repay
The head of Germany's biggest bank has cast doubt on whether debt-wracked Greece will be able to repay billions of euros in loans, prompting fierce criticism in the financial press Friday.
Brüderle demands banks boost business lending
German Economy Minister Rainer Brüderle pressed banks on Wednesday to increase lending as the government named a "credit mediator" to boost the number of business loans.
Munich Re boss warns German banks still under threat
The international financial crisis could claim more victims among German banks, the head of re-insurance giant Munich Re warned.
Hypo Real Estate gets last-minute rescue
The German mortgage bank Hypo Real Estate (HRE) was granted a last-minute "multi-billion euro" credit line from a consortium of German banks that allowed it to avoid declaring bankruptcy, it said Monday.
ECB joins US Fed to quell world markets
The European Central Bank and the world's top monetary authorities on Thursday announced a huge onslaught to boost the liquidity available to troubled global money markets.
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.
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.
Analysts expect German banks to cope with Lehman's demise
German economists and banking experts said on Tuesday the world’s third largest economy would likely cope fairly well with the fallout from the demise of US investment bank Lehman Brothers.
Steinbrück sees Germany weathering global financial crisis
Despite dark clouds on the horizon, Finance Minister Peer Steinbrück said on Tuesday Germany was well positioned to weather the financial crisis that brought down US investment bank Lehman Brothers.
ECB sees euro-zone credit squeeze easing
A squeeze on lending to home buyers and businesses that followed the US subprime crisis has shown slight signs of easing in the last three months, the European Central Bank said on Friday.