Live from the floor of the Frankfurt Stock Exchange
Piech says appearance at the Porsche general meeting
Ferdinand Piëch has its participation in the general meeting of Porsche -Holding canceled on Wednesday. A spokesman for Porsche SE said Piëch’ve communicated shortly. . It would be the first joint appearance of Piech and CEO Martin Winterkorn after the leadership contest at Volkswagen was
Winterkorn told Piëch’s rejection at the Porsche Annual General Meeting: ” Why should I be disappointed? If the Lord Piëch is prevented, then that’s just the way . “
The VW patriarch is still inspector at the Porsche Holding, Winterkorn is there was also responsible CEO. The week-long power struggle with Volkswagen, which culminated as VW supervisory board in Piëch’s withdrawal, should still be an issue in Stuttgart. The Porsche Holding holds a 51 percent stake in Volkswagen and makes its money mostly with the corresponding dividend.
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Italian Giordano named new CFO of Hypo Vereinsbank
13.42 Clock: The HypoVereinsbank gets a new chief financial officer: On June 1, the Italians will Francesco Giordano to take over the post of Peter Hofbauer, told the daughter the Italian banking giant Unicredit in Munich on Wednesday with. Giordano (48) was previously Chief Financial Officer of Bank Austria. Hofbauer go back to his native Vienna, there to take on new responsibilities within the Unicredit. The responsibility for Investment Banking is rearranged on the board: On September 1, should the former Germany boss of the credit insurer Euler Hermes, Michael Diederich, be appointed to the board and take over the area of Andreas Bohn.
12.14 Clock: The Tokyo Stock Exchange has risen on Wednesday. The Nikkei index of 225 blue chips rose by 139.88 points or 0.71 percent to close at 19 764.72 points. The broader Topix rose by 1.94 points or 0.12 percent to 1604.21 points
Inflation in April at 0.5 percent
11.17 clock.: The consumer prices in Germany have risen again slightly stronger in April. Compared to the same month last year, the inflation rate increased by 0.5 percent, the Federal Statistics Office in Wiesbaden said Wednesday. Statisticians corrected so that their preliminary results of the end of April by 0.1 percentage points up. However, the inflation rate is moving further “at a low level,” said the Federal Statistical Office
The consumer prices rose in April for the third month in a row:. In March the inflation rate was compared with the same month last year at 0.3 per cent Located in February at 0.1 percent. In January, consumer prices were even the first time declined for more than five years, after new calculations by 0.3 percent
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