Hapag-Lloyd AG is discussing a possible merger with Cia. Sud Americana de Vapores SA, Latin America’s biggest container shipping line, as the companies struggle to overcome a global trade slump that has left the industry in crisis.
Cia. Sud Americana de Vapores SA surged the most in more than a year after Die Welt newspaper reported that Latin America’s largest container shipper is negotiating a merger with German rival Hapag-Lloyd AG.
France’s economy poses the most serious threat to Europe’s recovery from a debt crisis that has crippled growth and driven unemployment to record highs, according to a survey of bankers and their regulators in Frankfurt.
Regulators outnumber bankers at Frankfurt’s biggest finance conference this week, underlining their importance as the European Central Bank prepares to scrutinize the books of the euro area’s largest lenders.
German real estate investor Anno August Jagdfeld plans to sell Berlin’s Tacheles building, a former department store that was occupied by squatters until last year, according to a sales prospectus obtained by Bloomberg.
Commerzbank AG, Germany’s second- biggest lender, cut its riskiest shipping and property assets by 33 percent to 8 billion euros ($11 billion) in the third quarter after the sale of its U.K. real estate unit.
With a former HSH Nordbank AG executive nicknamed “Dr. No” and a collateralized-debt obligation transaction called Omega 55, the first German criminal trial over the financial crisis could be the backdrop for a James Bond thriller.
HSH Nordbank AG, a German regional lender bailed out during the financial crisis, sued Goldman Sachs Group Inc. and Morgan Stanley over more than $634 million in residential mortgage-backed securities.