Economy of Germany
German automaker Daimler AG said on Jan. 4 it will recall 744,000 Mercedes-Benz vehicles in the United States from the 2001 through 2011 model years because the sunroof glass panel could detach and pose a hazard.
German prosecutors say they have charged four current and former personnel managers at Volkswagen executives of providing excessive salaries and bonuses to several members of the employee council.
The action benefited five council members, which cost the car giant about $ 5.1 million in overpayments, prosecutors said.
The think tank Carbon Tracker Initiative reported on Thursday that four in five coal plants in the European Union were unprofitable and utilities faced losses of nearly 6.6 billion euros this year.
German utility RWE faces the biggest losses this year, of 975 million euros, which is 6 percent of its market capitalization, according to the report.
As the latest estimates regarding just how hard Greek hotels have been hit by the collapse of UK travel giant Thomas Cook are pointing to unpaid invoices of some 230 million euros, and the government is assessing its options in terms of response measures, the now-dominant European tour operator, Tui AG, is sending one of its big bosses to Greece.
OTE telecom announced on Wednesday the conclusion on Tuesday of the bookbuilding process for the issuance of a 500 million-euro seven-year bond in international debt capital markets.
The issuance was strongly oversubscribed allowing tight pricing. The coupon was set at 0.875 percent, the lowest ever achieved, OTE stated.