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…
Author Archives: Derrik Brunner
Fiat CEO Claims: We May Buy Over Half Of Chrysler This Year
A Fiat unit that produces construction and farming equipment is now trading independently from Fiat’s automotive unit on the Italian Stock exchange in Milan. In 2009, Fiat purchased 20 percent of Chrysler stocks. In return, Chrysler received and Fiat’s management expertise and small-car and clean-engine technology. With this purchase, Fiat is moving towards being a…
The Portugal Bailout
In order to raise 8.5 billion euros, France is starting to sell debt. The Netherlands, Belgium and Germany are also going to raise money. However, the focus is on Portugal which many think may be the next domino to fall in the debt crisis. If so, Protugal may be the third economy to receive a…
Estonian Cash Machines Start Distributing Euros
At 00:20 on Saturday morning (New Years Day), Estonian ATMs started distributing Euro-notes thanks to Estonia becaming a eurozone member. Outside a newly installed ATM, clasping a bundle of Euro-notes, Prime Minister Andrus Ansip announced that “It is a small step for the eurozone and a big step for Estonia … We are proud to…
Adtraxion And Princen Internet Diensten Create Web-Based Digital Signage
Adtraxion Systems, has partnered with Princen Internet Diensten which is a company of the Princen Group. Adtraxion Systems works in the European market, giving digital signage solutions to its customers. Princen Internet Diensten and Adtraxion will offer businesses the PG Portal, an online portal created by Princen Internet Diensten. This portal is 100 percent compatible…
EU Concern Over Chinese Technological Acquisitions
A senior European official proposed the establishment of an EU watchdog to defend strategic sectors against Chinese takeovers. Antonio Tajani, a European Industry Commissioner, said that Chinese companies are able to acquire many more European companies that have Key technologies in vital sectors. Tajani suggested that Europe make “an authority tasked with examining foreign investments…
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…
Deutsche Bank Defrauds US Government, Will Pay $550 million
In a tax fraud case that generated billions of dollars, Deutsche Bank has agreed to pay nearly 554 million dollars and admit criminal wrongdoing. The New York attorney General’s office explained that the German bank admitted participating “in financial transactions which furthered fraudulent tax shelters that generated billions of dollars in US tax losses” A…
French Smartphone Users Get One-Time Gift Their Phones
A French tax rise means that many French smart phones owners will get their contracts canceled and get to keep their telecom subsidized smartphone. The French Government and the EU have pressured French telecommunications companies change VAT charges for internet service. Some of these companies have been charging this vat on smartphone contracts. These customers…
Va Tech Wabag And Sumitomo Corporation, Japan Have Entered Into An Alliance
Va Tech Wabag and Sumitomo are entering into a business alliance. VA Tech Wabag will expand into a more concession type business through this alliance. This will allow VA Tech Wabag to make tremendous gains with projects that are capital intensive. Sumitomo’s network, financial strength and expertise in implementing large scale infrastructure projects would add…
