Word: merkel
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...decision to back out of the sale of its European operations this week was a huge embarrassment for German Chancellor Angela Merkel. She had thrown her weight behind the bid by the Canadian-Austrian car-parts maker Magna and its Russian partner, Sberbank, to buy Opel and Vauxhall from the beginning, seeing it as the best way to save German jobs and offering both sides billions of dollars in loan guarantees to grease the wheels. Before GM made its sudden U-turn on Nov. 3, Merkel had also been riding high. She was coming off an electoral victory in September...
...back the $2.2 billion bridge loan that Berlin gave it a few months ago to keep Opel's business afloat. Jürgen Reinholz, the Economy Minister of the eastern state of Thuringia, says GM will likely do this by the end of November. But a huge question for Merkel is whether GM will now receive any of the $6.7 billion in loans the government had previously promised to Magna to seal the deal. The pledge had raised alarm bells in Britain, Belgium and Spain, where leaders feared that Germany was trying to curry favor with Magna and that their...
...sleepy copyright case, Authors Guild et al. vs. Google Inc., erupted into an intercontinental brawl. Hundreds of authors and publishers from the Netherlands to New Zealand have written to U.S. District Court Judge Denny Chin, some expressing astonishment and outrage. France and Germany have protested; German Chancellor Angela Merkel singled out Google for criticism in a podcast this month. (Read about the book price war among Amazon, Walmart and Target...
...Merkel, also formally re-elected as Chancellor for a second term on Wednesday, chaired the first meeting of her new cabinet before embarking on a diplomatic tour that will include a stop in Washington to address a joint session of Congress on Nov. 3. It's a rare honor - the last German Chancellor to do this was Konrad Adenauer in 1957. While in Washington, Merkel will also get a glimpse of the tortuous negotiations that are taking place on health-care reform in the U.S. - and she may come to wonder whether her fresh-faced new Health Minister is really...
...Read: "Fight over Tax Cuts Looms for Merkel...