An additional $100 million will be invested into BMW Manufacturing’s Spartanburg County’s factory along with an X3 program to “further streamline the company’s export operation.” It is hoped this move will escalate efficiency, flexibility and environmental-friendliness. Various programs will be supported in this vein, alongside the company’s support of sustainable improvement. The BMW Manufacturing Co….
Category Archives: Germany
New PassPort Web Portal
Northern Trust just came out with a new web portal for its PassPort which “provides an intuitive experience that eases collaboration and data integration across Northern Trust’s global operating platform for asset servicing and asset management.” According to global head of product management for Corporate & Institutional Services at the company Paul d’Ouville, this tool…
EIB Crisis
The European Investment Bank (EIB) will be giving around half of the crisis loans money to Eastern European small- and medium-sized companies. The EIB has stepped up during the financial crisis to “provide financial stability” throughout Europe. This was also part of a directive that came from EU economy ministers a few years ago to…
Franco-German Competitiveness Pact
The Franco-German Competitiveness Pact has set out various economic and political goals. With regard to the economic situation, it was promised that decisions would be reached at the meeting in March. Issues discussed included: energy, innovation, Egypt and the Mediterranean region, as well as the “long term structural challenges.” President Herman Van Rompuy addressed the…
German Government Minister Says: Future Reserve Currency Requires Development
Germany’s minister for economic cooperation and development, Heidemarie Wieczorek-Zeul, said that ideas for making a new international reserve currency to replace the dollar are developing but require refinement. Miguel d’Escoto Brockmann, the president of the U. N. General Assembly, created a group of experts to examine the global financial crisis and recommend solutions. Heidemarie Wieczorek-Zeul…
New Allianz Pension Fund Advisors
The German Allianz group has established Allianz Corporate Pension Advisors (ACPA) to consult large companies about pensions. Insurance branch Allianz Lebensversicherung, Allianz Global Investors and Allianz SE and have come together to establish ACPA. This will counsel the firm’s 200 major corporate clients. The group will be headed by Jörg Braun from Allianz Lebensversicherung and…
CEO Fired Due To WikiLeaks Satellite Quotation.
After wikileaks revealed derogatory remarks of OHB-Systems’ CEO, Berry Smutny, he has been suspended. OHB is a German company which specializes in space technology. In conversations with the American Ambassador Phillip Murphy, Smutny described the EU’s Galileo satellite navigation system as ‘nonsense’ and a ‘waste of taxpayer money.’ An OHB Spokesman explained that they needed…
Germany to Take Bigger Crisis Taxes on Banks
The 2008 financial crisis was, in part, caused by the banks and now the German government is demanding that the bank foot the bill. Germany will try to raise bank crisis tariffs over those originally planned. The original plan was that banks would have to pay a crisis tariff of 15% of annual profits. The…
Sparkasse Aachen Leaves Moody’s
Moody’s has removed its credit rate of the Sparkasse Aachen Bank in Germany upon the bank’s request. The bank stated that it requested to be removed from Moody’s is based on business concerns. Moody’s said that the bank’s ratings were stable and that the bank had no debt outstanding. Sparkasse Aachen had a bank financial…
New Middle School Is Hopeful to Train Next Generation of Bavarian Workers
Lower Bavaria has committed themselves to a new middle school. The President of the Chamber of Crafts (HWK) Niederbayern-Oberpfalz, Franz Prebeck, and the chief executive of Industry and Commerce (IHK),of Lower Bavaria, Walter Keil, under the auspices of the CSU member of parliament Walter Taubeneder created an image brochure, which the Lower Bavarian secondary schools…
