Live from the floor of the Frankfurt Stock Exchange
US Federal Reserve keeps interest rates remain low
22.16 Clock: The US Federal Reserve (Fed) holds as expected at their historical low interest rates fixed between zero and 0.25 percent. When to expect the intended increase in the key interest rate, the monetary authorities were on Wednesday following their two-day meeting in Washington remains open.
In its communication, the Fed said that the US economy is growing moderately and the labor market continues to improve. But for a rate hike until she wanted to see more positive data. The interest rate was not increased since 2006 and is since 2008 at a record low. The world’s largest economy had significantly lost at the beginning of its momentum. Therefore, experts do not expect any rate hike before September.
Metro subsidiary Real announces end for tariff binding to – Verdi incensed
20.00 Clock: The Metro subsidiary Real wants to get out of the collective bargaining coverage and provides the union Verdi negotiations on a collective agreement. Background of the decision was the distortive implementation of regional collective contract by individual trading companies, Real said on Wednesday.
companies without collective agreement would have significantly improved cost structures than collective bound plants in German trading. “This difficult situation Real did not create itself. But we need to remain competitive, react to it, “explained Real-Human Resources Officer Jörg Kramer According to an announcement the step.
The Verdi union accused the company of, the” to make wage dumping “in the next feed industry , “Following the sale of Kaufhof department stores, the Metro is planning obviously the next step to convert the Group radically,” said Verdi Federal Board Member Stefanie Nutzenberger According to a press release.
Nutzenberger announced that Verdi enforcing a two-tier “not accept” society among employees will. The union urge the companies to make the move immediately reversed.
Metro CEO Olaf Koch warned the union in an interview with the magazine “Wirtschaftswoche” not to take the collective withdrawal as an opportunity to strike action. “That would significantly burden the talks,” said Koch. The Metro chief estimated the personnel cost disadvantage of the company compared to its competitors to “up to 30 percent”. Concrete savings targets, a company spokesman declined to comment, however, on request,
For the current employees, the company will offer a continuance so that the charges today employees remained unchanged, it said. Job cuts are planned, according to Koch. . Real operates 300 stores and employs approximately 38 000 employees
Greek debt drama loaded the Dax
17.52 Clock: The tough rings in the Greek debt drama has the Dax charged again on Wednesday. In addition, investors held back before the evening awaited interest rate decision of the US Federal Reserve. The German index closed 0.60 percent lower at 978.01 points 10, after he had finally made it into the profit zone on Tuesday. The MDAX, the index of medium-sized values fell midweek by 1.03 percent to 19 520.13 points, and the TecDAX was 0.84 percent to 1626.40 points after.
consumer spending Deutsche keeps economy going
16.16 Clock: The consumer sentiment and the strong labor market posi- tion, the German economy by expectations of economic analysts continued building momentum. Therefore, the Munich-based Ifo Institute for Economic Research raised its growth forecast to be felt. Accordingly, the German economy is expected to grow this year by 1.9 percent and 2016 by 1.8 percent. While this was not a boom, but “quite a decent recovery,” said Ifo business manager Timo Wollmershäuser on Wednesday. Finally, the Munich researchers had only expected growth of 1.5 percent in 2015.
Largest support for the German economy is private consumption, Wollmershäuser said. Given the good situation on the labor market have the households in Germany more money to spend. “The company will continue to expand investment in an extremely favorable financing environment continues.” A slight decline expected the Ifo expert contrast with the outlook for exports because the world economy is expected to cool off in the course of next year.
automotive supplier Eberspächer has EU antitrust fine pay
11.58 Clock: Baden-Württemberg’s automotive supplier Eberspächer has an EU antitrust fine of pay 68 million euros. The exhaust and Klimaanalagenspezialist have more than ten years agreed with its competitors Webasto, to make each other no competition, the European Commission said on Wednesday in support. Both companies have the prices for parking heaters and auxiliary heaters denied and thus kept artificially high. In addition, the company would have its customers between them. When selling to dealers, they exchanged their annual price lists and harmonized their rebates for traders to
Tokyo Stock Exchange closes weaker
11.23 clock. – The Tokyo Stock Exchange has closed weaker on Wednesday. The Nikkei index of 225 blue chips was at 38.67 points or 0.19 percent to 20,219.27 points. The broader Topix lost 6.16 points or 0.38 percent to 1633.70 points.
French Environment Minister draws against Nutella to field
10.15 Clock: The Socialist criticized on Monday evening in the channel Canal Plus, that is located in Nutella palm oil – for its recovering forest areas would cut down. “That depends on considerable damage.” Addressing the Nutella maker Ferrero, the former girlfriend of French President Francois Hollande said. “You have to use other raw materials”
Ferrero declined to comment directly Royals remarks, stressed on Tuesday but to take environmental concerns seriously. The Company had entered into a number of commitments in palm oil. “The cultivation of oil palm may be accompanied by the respect of the environment and the population,” the group stated.
Dax saves himself just into positive territory
18.37 Clock: The German stock index has his day after long descent almost decided in positive territory. Until his final score of 11044.01 points he put 0.51 percent. Previously, he had fallen shortly after the start of trading on 10,835 points. The biggest winner of the day was K + S, with an increase of 2.08 percent, followed by Bayer with plus 1.98 percent. The weakest Lufthansa decided the trading day, they lost 0.76 percent
EU Court Upholds brand protection for Lego figures
14.13 clock. The Lego -Männchen remains protected. This was decided by the EU Court in Luxembourg on Tuesday and therefore rejected a complaint of the British competitors Best-Lock back (Cases T-395/14 and T-396/14). The Danish company Lego had let the three-dimensional representation of the toy male with and without knob protect Europe on the head in 2000.
Best-Lock argued that males fulfill a number of reasons not the requirements for trademark protection. After the company had already failed with his objections before the European Trademark Office, now the EU court was not convinced. The judgment could be challenged before the higher-ranking European Court of Justice (ECJ).
Lego CEO Jørgen Vig Knudstorp was pleased. “Mini-figures we believe something that people clearly with Lego blocks and the brand Lego connect,” he told the German Press Agency in Copenhagen.
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