Finance

A tee shot for a good cause

A tee shot for a good cause

The name has nothing to do with its initial letters. Gerlinde, inge and inge are the three ladies from the dodago team who were busily arranging prizes, writing lists, setting tables and decorating with little weave balls and subliquors on thursday in mainsondheim.

"There is nothing good, but you do it." Inge ziegler quotes erich kastner

Thursdays are ladysday, on thursdays (do) the ladies (da) play golf (go) on the course of the golf club schloss mainsondheim. Last week they had invited to a very special event.

Finance

Steamship for the economy – gross domestic product down

steamship for the economy - gross domestic product down

Slowed by problems in the automotive industry, the german economy contracted for the first time in three and a half years.

Gross domestic product (gdp) fell by 0.2 percent in the third quarter compared with the previous quarter, according to the federal statistical office.

The wiesbaden authorities thus confirmed earlier data. The difficulties of the car industry, which is so important for germany, in switching to the new WLTP emissions test standard have left their mark on private consumption and exports. The cooling of the global economy was also a burden on germany as an export nation in general.

Finance

Debt dispute with hedge funds plunges argentina into bankruptcy

Debt dispute with hedge funds plunges argentina into bankruptcy

In new york he said: "the vulture funds have not accepted our offer."This means that sudamerica’s second-largest economy is formally insolvent, even though the state coffers are actually well-filled.

The dispute between argentina and the hedge funds NML capital and aurelius revolves around the repayment of old bond debts dating back to the 2001 sovereign default. A total of 1.5 billion dollars at stake. Hedge funds are relatively lightly regulated financial firms that trade securities – such as government bonds – in rough style, betting specifically on sharp changes in value – or on high redemption claims.

In the dispute that has been raging for five years, there are now only losers: the investors go empty-handed. Argentina’s already tattered reputation in the financial markets continues to suffer. German savers need not worry, experts say. As long as argentina has not paid its $1.5 billion debt, it may not service other bonds, according to a u.S. Court ruling. That’s why buenos aires can’t pay glaubiger, even though it would like to and has the money to do so.

Finance

Topic of working hours precedes start of metal wage negotiations

topic of working hours precedes start of metal wage negotiations

Dispute over new working time rules marks start of collective bargaining for metal and electrical industry in germany. For the first round on wednesday, both IG metall and the employers presented a catalog of demands.

The union is asking for six percent more money, which is clearly too much for the employers, but not the main point of contention. The IG metall’s goal of negotiating the possibility for employees to reduce their working hours to up to 28 hours per week – including financial subsidies for certain groups – is causing much greater opposition.

The union’s demand is "exactly in time and exactly in line with the demands of employees, economically feasible and affordable," said the head of IG metall in baden-wurttemberg, roman zitzelsberger, at the start of negotiations this afternoon in boblingen. Sudwestmetall is the second-largest collective bargaining district in the metal and electrical industry, which employs around 3.9 million people nationwide.

Finance

State theater: michelbach wants cost cap

State theater: michelbach wants cost cap

As a member of the bundestag, hans michelbach (CSU) actually had nothing to do with the coburg state theater. But michelbach is also a city council member and economic politician. He says that the regional theater is one of the region’s soft factors, but he says that the city will have to pay a lot for the upcoming renovation and the planned expansion: 25 percent of the renovation costs and half of the costs for the new buildings in the area between the IHK and the upper burglab.

So it is agreed, but how much money it will be in the end, no one knows yet. So far, there are only rough cost estimates, which range – depending on the expansion – between 90 and 110 million euros. That’s why michelbach is now calling for a "cost cap" for the city: the financing agreement with the freestate must be amended to include a maximum contribution for the city of coburg.

However, michelbach did not want to say how high this should be during the press interview on tuesday. The city and state government are being asked to demand reliable figures from the planners. "There must be clarity quickly. Now are still at work those who have given the commitments. This must be used." In any case, michelbach said, he had also used the current negotiations in the bundesrat to talk with bavaria’s finance minister, albert furacker.