Hamburg, Germany’s second-biggest city, is preparing to spend 2 billion euros ($2.7 billion) to buy back energy grids it sold to utilities Vattenfall Europe AG and EON SE more than 20 years ago after its citizens backed the repurchase by a narrow majority yesterday.
The mayor of the city-state of Hamburg, Social Democrat Olaf Scholz , has appointed the city’s new senate, Hamburger Abendblatt said in a preview of an article that will be published tomorrow, without saying where it got the information.
Axel Springer AG, Europe’s biggest newspaper publisher, agreed to sell regional newspapers and women’s and television magazines to Funke Mediengruppe GmbH for 920 million euros ($1.2 billion) to focus on digital media.
Immigration of workers to Germany stemming from the expiration of rules restricting movement among European Union countries will likely be limited to about 150,000 a year, Hamburger Abendblatt said in a preview of an article to appear in tomorrow’s edition, citing comments by Klaus Zimmermann , who heads the country’s Institute for the Study of Labor.
The German economy will probably grow more than 3 percent this year as the auto, engineering and chemical industries stay “strong,” Dieter Hundt, head of the BDA employers’ association, told Hamburger Abendblatt.
Douglas Holding AG’s Thalia book- selling unit plans to close about 15 of its more than 300 outlets because of competition from Amazon.com Inc., Hamburger Abendblatt reported, citing a letter to employees.
Shipping volumes at Hamburg’s harbor rose about 11 percent to nearly six million standard containers in the first nine months of the year, Hamburger Abendblatt reported without citing the source of the information.
German Foreign Minister Guido Westerwelle said Greece should stay in the euro-area because a departure would create risks for the German economy and for Europe, the Hamburger Abendblatt reported, citing an interview.