Central banks in Europe and Japan pumped out tens of billions more dollars on Monday to help commercial banks hit by the United States home-loan sector crisis, as shares bounced back from a turbulent week. The European Central Bank injected another €47,66-billion after putting a record €155,85-billion into the market last Thursday and Friday.
Porsche, the German maker of luxury sports cars, has launched an official bid to acquire Volkswagen, Europe's largest auto manufacturer. Stuttgart-based Porsche announced in late March that it would exercise an option to buy an additional 3,6% stake in Volkswagen.
German-United States auto giant DaimlerChrysler said on Tuesday it had reached an out-of-court settlement with insurers over a legal squabble surrounding some comments by the group's former chairperson regarding the merger of Daimler and Chrysler in 1998.
The anti-corruption department at German engineering giant Siemens tried to cover up evidence of bribery accounts several years ago, the <i>Sueddeutsche Zeitung</i> newspaper alleged on Monday in a report on a deepening investigation of the company.
New rules forced air travellers to pack perfume, toothpaste and other liquids into small plastic bags in their hand luggage before going through security checkpoints at Europe's airports on Monday. Queues were longer than usual at terminals in Frankfurt and Paris as passengers got to grips with the new regulations.
A self-confessed German cannibal on Tuesday said at his retrial for murder that five years after butchering and eating an apparently willing victim he felt no guilt. Armin Meiwes (44) told the court that cannibalism was against the codes of social conduct but not a crime because his victim had wanted to die in this way.
The surprise announcement by German luxury sports car maker Porsche that it plans to buy a stake in Europe's biggest car maker Volkswagen sparked scepticism among investors and analysts, triggering a sharp sell-off in both companies' shares on the stock exchange on Monday.
Bad news continued to pile up for Germany and its beleaguered Chancellor Gerhard Schröder on Tuesday, as the Organisation for Economic Cooperation and Development slashed its growth forecasts and investor confidence slid on concerns that a global slowdown could bring the stuttering German economy to a standstill.
In the last story of her series about children behind bars, Athandiwe Saba speaks to young men who have committed serious crimes and are now living behind the walls of the Mogale Child and Youth Care Centre