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☆ Exclusive: Germany scraps plans for more stringent building standards to prop up industry
▼ + stars: | 2023-09-24 | by ( Christian Kraemer | ) www.reuters.com time to read: +2 min

REUTERS/Michele Tantussi/File Photo Acquire Licensing RightsBERLIN, Sept 25 (Reuters) - The German government will put on indefinite hold plans to require more stringent building insulation standards, environment minister Robert Habeck told Reuters, an effort to help prop up the ailing building industry. The about-face from the German government comes ahead of a closely watched meeting between the building industry and government leaders with Chancellor Olaf Scholz on Monday to address a major slump in the sector. Abolition of the insulation standards has been a top demand of industry, which says the measures are too expensive and put a further damper on the depressed construction industry. "High interest rates and inflation are a heavy burden for the construction industry," Habeck told Reuters, noting that the insulation measures now "can wait". For years, low interest rates fuelled a global boom, igniting interest in German property, seen as safe and stable as the country.

Persons: Michele Tantussi, Robert Habeck, Chancellor Olaf Scholz, Habeck, Christian Kraemer, Tom Sims, Lisa Shumaker Organizations: REUTERS, Rights, Reuters, Reuters Graphics Germany, Thomson Locations: Berlin, Germany, United States, Sweden, China, Monday's

☆ Germany's Scholz asks Poland to clarify cash-for-visas affair
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +2 min

Germany's Chancellor Olaf Scholz addresses a ministerial level meeting of the United Nations Security Council on the crisis in Ukraine at U.N. headquarters in New York, September 20, 2023. Arrivals to Poland could easily cross into other European Union countries given that borders are open. "The visa scandal that is taking place in Poland needs to be clarified," Scholz said on Saturday at an event. Scholz hinted that Germany could take steps to control the border with Poland. In recent years, Germany has already coped with floods of migrants and asylum seekers from Syria and Ukraine.

Persons: Germany's, Olaf Scholz, Brendan McDermid, Scholz, Nancy Faeser, Zbigniew Rau, Home Affairs Ylva Johansson, Andreas Rinke, Tom Sims, Clelia Organizations: United Nations Security Council, REUTERS, Rights, Union, Polish, Home Affairs, EU, Thomson Locations: Ukraine, U.N, New York, Polish, Germany, Poland, Syria

☆ Germany's Scholz Asks Poland to Clarify Cash-For-Visas Affair
▼ + stars: | 2023-09-23 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

BERLIN (Reuters) - German Chancellor Olaf Scholz on Saturday called on the Polish government to clarify allegations about a cash-for-visas deal for migrants that has roiled Polish politics, as a debate about immigration heats up in Germany. Arrivals to Poland could easily cross into other European Union countries given that borders are open. "The visa scandal that is taking place in Poland needs to be clarified," Scholz said on Saturday at an event. Scholz hinted that Germany could take steps to control the border with Poland. In recent years, Germany has already coped with floods of migrants and asylum seekers from Syria and Ukraine.

Persons: Olaf Scholz, Scholz, Nancy Faeser, Zbigniew Rau, Home Affairs Ylva Johansson, Andreas Rinke, Tom Sims, Clelia Oziel Organizations: BERLIN, Union, Polish, Home Affairs, EU Locations: Polish, Germany, Poland, Syria, Ukraine

☆ Commerzbank shares fall after report on strategy review
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsFRANKFURT, Sept 22 (Reuters) - Shares of Commerzbank (CBKG.DE) were down 3.4% late on Friday after a German newspaper reported details of the lender's new strategy plans to be announced in November. Shares of the bank were down by only around 0.4% before publication of the report. It plans to announce its strategy review on Nov. 8. Like many banks, Commerzbank has been benefiting from a rise in interest rates and the income that generates. Reuters GraphicsThe bank's chief executive Manfred Knof said this week that the main focus of the new strategy would be growth in its customer business.

Persons: DAX, Kai Pfaffenbach, Commerzbank, Manfred Knof, Bettina Orlopp, Tom Sims, Rachel More, Friederike Heine, Kirsten Donovan Organizations: REUTERS, Rights, Thomson Locations: Frankfurt, Germany, Commerzbank

☆ So You Think You’re a Travel Expert? Prove It.
▼ + stars: | 2023-09-22 | by ( Shannon Sims | ) www.nytimes.com time to read: 1 min

So You Think You’re a Travel Expert? You glide through airport security like Michael Phelps through the pool. And you’ve been asked more than once to stop bragging about how your carry-on bag fits perfectly in the overhead bin. But how well do you know the latest travel buzzwords? Take this quiz to find out.

Persons: Michael Phelps, you’ve

☆ Deutsche Bank to see 'normalization' in FIC business in Q3, CFO says
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: 1 min

Deutsche Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsFRANKFURT, Sept 21 (Reuters) - Deutsche Bank (DBKGn.DE) will see a "normalisation" of its fixed income and currency trading business in the third quarter from a strong performance a year ago, the lender's finance chief James von Moltke said on Thursday. The business makes up a big chunk of the investment banking revenue at Germany's largest bank. Reporting by Tom Sims, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, James von Moltke, Tom Sims, Rachel More Organizations: Deutsche Bank, REUTERS, Rights, Thomson

☆ The CIA Politicizes Intelligence on China and Covid
▼ + stars: | 2023-09-20 | by ( John Ratcliffe | Cliff Sims | ) www.wsj.com time to read: 1 min

Review & Outlook: More evidence that the coronavirus may have escaped from the Wuhan Institute of Virology catches up to those who derided the possibility of a man-made Chinese origin. (02/27/23) Images: AP/Reuters Composite: Mark KellyA Central Intelligence Agency whistleblower claims that the CIA rigged a report on the origins of Covid-19 to exonerate China. According to the allegation, the most senior member of a seven-member CIA analysis team “was the lone officer to believe COVID-19 originated through zoonosis.” His six colleagues thought the intelligence and science “were sufficient to make a low confidence assessment” that the disease came from a lab leak.

Persons: Mark Kelly, “, ” Organizations: Wuhan Institute, Virology, Reuters, Central Intelligence Agency, CIA Locations: China, zoonosis

☆ Prominent German banker on trial in giant tax fraud scheme
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

[1/2] Christian Olearius, former CEO of Warburg Bank looks on as he arrives for Cum-Ex tax fraud trial, at a regional court, in Bonn, Germany, September 18, 2023. REUTERS/Wolfgang Rattay Acquire Licensing RightsBONN, Sept 18 (Reuters) - A top German banker went on trial on Monday accused of playing a role in a multibillion-euro German tax fraud scheme that has ensnared scores of domestic and global banks and hundreds of individuals. The trial that began on Monday in Bonn involves Christian Olearius, the 81-year-old former CEO and chair of the Hamburg-based bank M.M. Prosecutor Stephanie Kerkering told the court that Olearius had conspired with others inside and outside Warburg to engage in the transactions. Earlier this year, a tax lawyer alleged to have masterminded the fraud received a second eight-year jail sentence, the longest to date.

Persons: Olearius, Wolfgang Rattay, Christian Olearius, M.M . Warburg, Stephanie Kerkering, Warburg, Olaf Scholz, Matthias Inverardi, Tom Sims, Friederike Heine, Bernadette Baum Organizations: Warburg Bank, REUTERS, Rights, M.M, Warburg, Thomson Locations: Bonn, Germany, Rights BONN, German, Hamburg, M.M ., Warburg

☆ Jonathan India's tie-breaking HR sends Reds over Mets
▼ + stars: | 2023-09-16 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/25] Sep 15, 2023; New York City, New York, USA; New York Mets starting pitcher David Peterson (23) pitches against the Cincinnati Reds during the first inning at Citi Field. Spencer Steer also hit a two-run homer for the Reds, while Noelvi Marte had three hits and scored on a wild pitch. Pete Alonso hit a three-run homer for the Mets (68-79), who had their three-game winning streak snapped. Lucas Sims (6-3), the first of three Reds relievers, got the final out of the sixth. Reds starter Hunter Greene allowed one hit in the first five innings before the Mets broke through against the right-hander in the sixth.

Persons: David Peterson, Brad Penner, Jonathan India, Spencer Steer, Noelvi Marte, Pete Alonso, DJ Stewart, Lucas Sims, Alexis Diaz, Grant Hartwig, Marte, Ronny Mauricio misplayed Harrison, Nick Senzel, Steer, Hunter Greene, Brandon Nimmo, Francisco Lindor, Alonso, Greene, Luke Maile, Hartwig, Peterson Organizations: New York Mets, Cincinnati Reds, Citi Field, Reds, Cincinnati, National League, Arizona Diamondbacks, San Francisco Giants, Mets, The Reds, Thomson Locations: New York City , New York, USA, India

BOULDER, Colo. (AP) — Shedeur Sanders accounted for three scores, Colorado’s defense forced four turnovers and the 22nd-ranked Buffaloes beat longtime rival Nebraska 36-14 on Saturday in the home debut of Deion Sanders at sold-out Folsom Field. Shedeur Sanders threw for 393 yards and two scores, while running for another touchdown. After punting on their first four drives, Sanders and the offense scored on seven of eight possessions to turn the game into a rout. Deion Sanders has elevated Colorado to the point where the Buffaloes had 53,241 fans in attendance — their largest crowd in 15 years — and tickets going for roughly $400. Colorado: The Buffaloes have their first three-game winning streak over the Huskers since the 1950s.

Persons: — Shedeur Sanders, Deion Sanders, Prime's, Shedeur Sanders, Sanders, Matt Rhule, Xavier Weaver, Jace Feely, Tar’Varish Dawson, Jeff Sims, Travis Hunter, Hunter, Fox’s, Kordell Stewart, Michael Westbrook, Michael Irvin, Terrell Owens, Jordan Domineck, Arden Walker, Bishop Thomas, Cam’Ron Silmon, Craig Organizations: Buffaloes, Nebraska, Folsom, TCU, The Buffaloes, Huskers, Folsom Field, of Fame, SEAT, NEXT Nebraska, Northern Illinois, Colorado State, AP Locations: BOULDER, Colo, Colorado, Nebraska, Northern, . Colorado

For years, low interest rates fuelled a global boom, igniting interest in German property, seen as safe and stable as the country. The health of Germany's property sector - Europe's biggest property investment market outside of Britain - is critical, making up roughly a fifth of output and providing one in 10 jobs. Late last year, Hoeglmaier put his penthouse on the market, and Euroboden closed its Frankfurt office. In 2020, as the property market heated up, the Bundesbank warned the country's banks, for whom property accounted for about 70% of all domestic loans, of the risks. The 380-square meter (4,090 square foot) penthouse, which occupies the fifth through seventh floors and includes a rooftop terrace, originally listed for just under 13 million euros.

Persons: Leonhard Simon, Stefan Hoeglmaier, Chancellor Olaf Scholz, Tillmann Peeters, Hoeglmaier, Oscar Loya –, –, Euroboden, Daniel Bauer ,, Oliver Schartl, Loya, Christoph Niering, Matthias Inverardi, Tomasz Janowski Organizations: REUTERS, Rights, FalkenSteg, European Central Bank, Reuters, Facebook, Garden, Graphics, Thomson Locations: Munich, Germany, Europe's, Britain, Berlin, Frankfurt, Ukraine, Sweden, Europe, homebuilders, China, Evergrande

Here are the meanings of the least-found words that were used in (mostly) recent Times articles. — The Lessons of Nothingness From Maverick Zen Monks (June 22, 2022)3. beltline — the area around one’s waist:Haney, the World Boxing Council lightweight champion, thumped Sims’s midsection. “This project is so life-affirming with thoughts about the future,” she wrote in an email. She might revisit classics like “30 Rock” and “Arrested Development” with her 17-year-old son. — Mentaiko Spaghetti Is Creamy, Briny, Rich and Spicy (June 23, 2023)The list of the week’s easiest words:

Persons: hamartia, Thompson, Shakespeare, Aristotle, —, arhat, gaunt, Monks, beltline, Haney, America’s, demimonde, “, ” Imogen Binnie, linocut, ”, bingeing, Habboo, beignet, I’m, Anthony Doerr’s Organizations: Boxing Council, Literature, Hollywood, Netflix Locations: Southeast Asia, Saigon, Vietnam, Houston, I’ll

☆ German property developer Gerch restructuring as crisis deepens
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

Dark clouds are seen over the construction site of "4 Frankfurt" skyscraper next to the statue of German inventor Johannes Gutenberg and Commerzbank tower in Frankfurt, Germany, July 19, 2023. REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsFRANKFURT, Aug 24 (Reuters) - German property developer Gerch said on Thursday it had filed an application for restructuring proceedings with a local court, the latest real estate firm to run into financial trouble as the sector suffers its biggest crisis in decades. Gerch said the move affected four of the firm's units and that the Duesseldorf court had ordered provisional self-administration. Mathias Duesterdick, CEO of Gerch, last month told Reuters the turn of events in the sector was worrying and predicted difficulties for developers. ($1 = 0.9211 euros)Reporting by Tom Sims, Editing by Rachel More and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Johannes Gutenberg, Kai Pfaffenbach, Gerch, Mathias Duesterdick, Tom Sims, Rachel More, Mark Potter Organizations: REUTERS, Rights, Reuters, Thomson Locations: Frankfurt, Germany, Ukraine

☆ Germany wants tighter foreign investment controls amid China 'de-risking'
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +1 min

The effort comes as Berlin urges companies to reduce their reliance on China and as the government examines whether its current set of regulations is sufficient to encourage this. Germany has at times been seen as a weak link in the Western approach to China, given the strong business ties with its single biggest trading partner. "Investment reviews have gained enormously in importance in Germany, Europe and internationally in recent years," the document said. In addition, the ministry is also considering checking the security significance of new factories built in Germany by foreign companies, as well as whether security-critical research cooperation deals need to be scrutinized. Reporting by Andreas Rinke; Writing by Tom Sims; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Robert Habeck, China's Cosco, Andreas Rinke, Tom Sims, David Holmes Organizations: Reuters, Sunday, Thomson Locations: Berlin, China, West, Germany, Hamburg, Europe

And according to a report from Consumer Intelligence Research Partners, they're especially popular among young adults — the same group that dominates PC gaming, according to Statista. However, these days, most MacBooks run on a single chip called either the M1 or M2, also known as Apple silicon, that holds both the CPU and GPU. Steam, the most popular PC gaming app, even has its own dedicated macOS catalog now. It features thousands of fantastic games, including:You also have access to a wealth of popular games outside of Steam, like Fortnite and The Sims 4. And don't forget cloud gaming services like Xbox Game Pass that let you stream popular games on your MacBook.

Persons: MacBooks, you'll, Whoopi Goldberg's, you'd, William Antonelli, I've, you've, aren't Organizations: Consumer Intelligence Research Partners, Apple, AMD, Intel, Nvidia, Mac, Forza, Xbox Cloud Locations: itch.io

☆ Ukrainian soldiers knocked out a crash course on the M1 Abrams tank, but Kyiv doesn't want to stop there
▼ + stars: | 2023-08-18 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Ukrainian soldiers have reached the end of their planned training on American M1 Abrams tanks in Germany. US M1A1 Abrams tanks needed for training the Armed Forces of Ukraine arrive by rail at Grafenwoehr, Germany, May 14, 2023. While US officials have routinely asserted that the Abrams tanks would make their way to the battlefield this fall, an exact timeline remains unclear. US soldiers and an M1 Abrams tank in a wooded area during a multinational exercise at the Hohenfels training area in Germany. American officials, meanwhile, have suggested that the Abrams tanks are expected to give Kyiv a significant firepower boost on the battlefield.

Persons: Martin O'Donnell, O'Donnell, Biden, Abrams, Pat Ryder, Nicolas Armer, Douglas Sims, they'll, Sims Organizations: Abrams, Service, US Army, Training, Grafenwoehr, NATO, US, Armed Forces, US Air National Guard, Tylon Chapman, Russia, Stripes, Pentagon, Formidable, US military's Joint Staff, Kyiv, Western Locations: Germany, Ukraine, Wall, Silicon, Kyiv, US Army Europe, Africa, Grafenwoehr, Washington, Formidable Russian, Gen, Russia

The lawsuit says Kennedy's screenplay and "Stranger Things" have several similarities in their characters, plot, dialogue and themes. Kennedy accused an artist who developed concept art for both his project and "Stranger Things" of sharing his work with the Duffer Brothers. Netflix and the makers of "Stranger Things" denied the allegations in court filings and said the stories are "objectively different" by "virtually every imaginable measure." "Most glaringly, Stranger Things features a core group of children who fight off evil monsters while navigating teenage social issues," the defendants said. The case is Irish Rover Entertainment LLC v. Sims, U.S. District Court for the Central District of California, No.

Persons: Ross, Matt Duffer, Mario Anzuoni, Jeffrey Kennedy's, Ross Duffer, Kennedy, Patrick Arenz, Robins Kaplan, Jeremy Osher, Boren Osher, David Grossman, Loeb, Kelly Klaus, Munger Tolles, Blake Brittain Organizations: REUTERS, Netflix, Rover Entertainment, Irish Rover, Irish Rover Entertainment, U.S, Central, Central District of, Luftman, Olson, Thomson Locations: Los Angeles , California, U.S, Los Angeles, Indiana, South Bend , Indiana, Central District, Central District of California, Washington

Germany's property sector is in stress, underscoring a major change of fortune for real estate in Europe's largest economy after an end to the era of cheap money. REUTERS/Kai Pfaffenbach/File PhotoFRANKFURT, Aug 11 (Reuters) - A Munich-based property developer said on Friday it had filed to open insolvency proceedings with a local court, in the latest sign of stress in Germany's real estate sector. Weakness in real estate has also emerged in the United States and Sweden. Germany is Europe's largest economy and the biggest real estate investment market on the continent. The property sector accounts for roughly a fifth of Germany's economic output and one in ten jobs.

Persons: Kai Pfaffenbach, Euroboden, Tom Sims, Mark Potter Organizations: REUTERS, Euroboden GmbH, Reuters Graphics Reuters, Partner, Centrum Group, Thomson Locations: Frankfurt, Germany, Germany's, Europe's, Munich, Berlin, United States, Sweden

Germany's property sector is in stress, underscoring a major change of fortune for real estate in Europe's largest economy after an end to the era of cheap money. In the latest signs of stress in the sector, Germany's largest real estate group Vonovia (VNAn.DE) posted multi-billion euro losses and writedowns, and job growth for construction workers has stagnated. The property sector makes up roughly a fifth of economic output and one in ten jobs, according to the German Property Federation. The Ukraine war has also made German property seem riskier for foreign investors. The president of the German Property Federation, Andreas Mattner, is pressing the government to temporarily suspend a property sales tax and is demanding a low-interest rate credit program to support new residential building.

Persons: Kai Pfaffenbach, Sven Carstensen, Florian Schwalm, Olaf Scholz, Klara Geywitz, Andreas Mattner, Oliver Mueller, Matthias Inverardi, Holger Hansen, Friederike Heine Our Organizations: REUTERS, CARE, German Property Federation, Reuters Graphics Reuters, European Central Bank, Germany, German Construction Industry Federation, Thomson Locations: Frankfurt, Germany, Germany's, Europe's, Kai Pfaffenbach FRANKFURT, United States, Sweden, Ukraine, East, Asia

☆ MLB roundup: Astros use ninth-inning slam to edge O's
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +11 min

Philadelphia starter Zack Wheeler (9-5) tossed six innings and gave up seven hits and three runs. Losing pitcher Sonny Gray (5-5) gave up three runs (two earned) and seven hits in six innings while notching 10 strikeouts. Rays right-hander Zach Eflin allowed just one run on four hits in seven innings. Yusei Kikuchi sustained his first loss since July 1 despite permitting only one run on three hits while striking out six in seven innings. Taillon (7-6) tossed seven innings of three-hit ball and retired the final 16 batters he faced.

Persons: Kyle Tucker, Tommy Gilligan, Kyle Tucker's, Jeremy Pena's, Felix Bautista, Adley Rutschman, Ryan Mountcastle, Rutschman, Mountcastle, Framber Valdez, Ryne Stanek, Ryan Pressley, Kevin Pillar, Orlando Arcia, Ronald Acuna Jr, Arcia, Mitch Keller, David Bednar, Brandon Drury, Lucas Giolito, Scott Alexander, Wilmer Flores, Kyle Schwarber, Jake Cave, Alec Bohm, Zack Wheeler, Lane Thomas, Keibert Ruiz, Trevor Williams, Eduardo Rodriguez, Rodriguez, Jose Cisnero, Jason Foley, Zack Short, Kerry Carpenter, Jake Rogers, Sonny Gray, Jorge Soler, Soler, Lucas Sims, Braxton Garrett, Stuart Fairchild, Luis Arraez's, Yandy Diaz, Brandon Lowe, Randy Arozarena, Louis, Isaac Paredes, Nolan Arenado, Zach Eflin, Miles Mikolas, Tanner Bibee, Ramon Laureano, Emmanuel Clase, Whit Merrifield, Yusei Kikuchi, Drew Waters, MJ Melendez, Michael Massey, Brady Singer, Trevor Story, Mike Tauchman, Jameson Taillon, Cody Bellinger, Pete Alonso, Justin Verlander, Joey Meneses, Ildemaro Vargas, Jordan Weems, Kyle Finnegan, Bryce Harper, Craig Kimbrel, Meneses, Nolan Jones, Elias Diaz, Matt Koch, Andruw Monasterio, William Contreras, Wade Miley, Andrew Chafin, Harrison Bader, Kyle Higashioka, Aaron Judge, Clarke Schmidt, Michael King, Yoan Moncada, Andrew Vaughn, Touki Toussaint, Corey Seager, Max Scherzer, JJ Bleday's, JP, Logan Gilbert, Dylan Moore, Gilbert, Xander Bogaerts, Scott Barlow, Freddie Freeman, Julio Urias, Christian Walker, Evan Phillips, Corbin Carroll Organizations: Houston Astros, Baltimore Orioles, Camden Yards, Astros, Baltimore All, Orioles, Braves, Pirates, Pittsburgh, Giants, San, Angels, Chicago White Sox, The Giants, San Francisco, Phillies, Philadelphia, Washington, Nationals, Tigers, Detroit, Marlins, Reds, Miami, Cincinnati, Cardinals, Tampa, St, Tampa Bay, Rays, Blue Jays, Toronto, Royals, Red Sox, Kansas City, Boston, Cubs, Mets, National League, Rockies, Brewers, Colorado, Milwaukee, Yankees, White Sox, Chicago, New York, Rangers, Athletics, Oakland, Texas, New York Mets, JP Sears, Mariners, Padres, Seattle, San Diego, Dodgers, Diamondbacks, Arizona, Thomson Locations: Baltimore , Maryland, USA, Atlanta, Los Angeles, San Francisco, Anaheim , Calif, Washington, Philadelphia, St . Petersburg, Fla, Cleveland, Kansas, Chicago, New York, Schmidt, Texas, Toronto, Phoenix, Arizona

☆ Canadian group buys German grocery property valued at more than $1 billion
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, Aug 9 (Reuters) - A Canadian investor has agreed to buy a portfolio of German grocery properties valued at more than 1 billion euros ($1.09 billion), a sale that comes amid a drought of real estate transactions in Europe's largest economy. The buyer, Slate Asset Management, and the seller, x+bricks Group, on Wednesday announced that the sale of 188 properties would come in two tranches. Germany, the largest real estate investment market on the European continent, long benefited from an era of cheap money that fed a decade-long boom, but now it is grappling with a major about-face in fortune. Investment volumes in Germany are back to 2012's levels, according to Jones Lang LaSalle. ($1 = 0.9141 euros)Reporting by Matthias Inverardi; Writing by Tom Sims; Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

Persons: Jones Lang LaSalle, Matthias Inverardi, Tom Sims, Rachel More Organizations: FRANKFURT, Slate Asset Management, Wednesday, Thomson Locations: tranches, Germany

☆ Factbox: European countries imposing windfall taxes on banks
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +4 min

But he and Finance Minister Bruno Le Maire have ruled out the possibility of a windfall tax. HUNGARYHungary's government has tweaked windfall taxes imposed on key sectors of the economy in a decree published in June, saying banks can reduce their 2024 windfall tax payments by up to 50% if they increase their Hungarian government bond purchases. ITALYItaly approved on Aug. 8 a one-off 40% tax on profits banks reap from higher interest rates and it plans to use the proceeds to help mortgage holders. LITHUANIALithuania's parliament approved in May a windfall tax on the banking industry's net interest income for 2023 and 2024 following a sharp rise in European Central Bank interest rates. It is expected to raise 6 billion Swedish crowns a year.

Persons: Ralph Orlowski, Emmanuel Macron, Bruno Le Maire, Christian Lindner, Alessandro Parodi, Matteo Allievi, Olivier Sorgho, Silvia Aloisi, Tom Sims, Holger Hansen, Marta Frąckowiak, Alexander Smith Organizations: Germany's Deutsche Bank, REUTERS, Finance, HUNGARY Hungary's, European Central Bank, Swedish Government, Thomson Locations: Frankfurt, Germany, Italy, CZECH REPUBLIC, Czech, France, GERMANY, HUNGARY, ITALY Italy, LITHUANIA, SPAIN Spain, SWEDEN, Britain

FILE PHOTO-A logo of German real estate company Vonovia, is pictured during a news conference in Duesseldorf, Germany, March 6, 2018. After a decade-long property boom, Germany is undergoing a sharp reversal of fortune after an era of cheap money ended. Germany's real estate sector is mired in its worst crisis in decades, marked by insolvencies, fizzling transactions, falling prices and a stagnation in construction jobs. Vonovia, which went public in 2013 at the start of the property boom and took over its biggest rival in 2021, serves as a bellwether for Germany's property sector. Vonovia affirmed full-year guidance for its key profit metric - so-called funds from operation - of 1.75 billion euros to 1.95 billion euros, down from 2.04 billion in 2022.

Persons: Thilo, Vonovia, Chancellor Olaf Scholz, Rolf Buch, Matthias Inverardi, Tom Sims, Miranda Murray, Friederike Heine, Kim Coghill, Alexander Smith Organizations: REUTERS, Reuters Graphics, Stifel, Thomson Locations: Duesseldorf, Germany

FRANKFURT, Aug 1 (Reuters) - Germany's property sector is under stress, prompting firms to call for government support, property developers to file for insolvency and share prices of landlords to plunge. Reuters GraphicsIt's just the latest in a flurry of indicators that show real estate in Germany is in a deep funk. "Many, many property developers at the moment are postponing projects or slowing them down," said Francesco Fedele, chief executive of BF.direkt, a property financing consultant. THE DAXVonovia, Germany's largest real estate group, serves as a bellwether for Germany's property sector. TRANSACTIONSGermany is the largest real estate investment market on the European continent.

Persons: Francesco Fedele, DAX Vonovia, Jones Lang LaSalle, Tom Sims, Holger Hansen, Ed Osmond Organizations: FRANKFURT, Reuters, Reuters Graphics, Stifel, Thomson Locations: United States, Sweden, Germany, Berlin, Frankfurt, Denmark, Europe

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