London and Frankfurt stock exchanges form alliance
Article Abstract:
The announcement of a broad alliance between the London and Frankfort stock exchanges is evidence of the continuing erosion of national boundaries within the European financial markets. The agreement will allow the London Stock Exchange and Deutsche Borse, formerly fierce rivals, to develop a joint electronic trading system for German and British blue-chip stocks. The upcoming introduction of the Euro currency parallels the two financial institutions' goal of creating a unified electronic stock market on the Continent. The two exchanges will complete the formation of a single company in about 12 months which will harmonize rules and produce common stock purchasing procedures.
Comment:
Has formed a broad alliance with London Stock Exchange to create a common European stock exchange company
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Volkswagen, in shift, will set up fund for slave workers
Article Abstract:
Volkswagen AG, which has recently acquired Rolls-Royce Motor Cars and Lambourghini, has changed a previous position with its announcement of the formation of a new fund to compensate World War II slave laborers. Details of the fund will be outlined in September 1998. The auto manufacturer had been under pressure from the Lower Saxony government, which owns 20% of Volkswagen, and was threatened with lawsuits on behalf of slave laborers. Volkswagen admitted that it had used 15,000 slave workers during the war, many of whom are now dead, but claimed that direct compensation was the responsibility of the German government.
Comment:
Will form a new fund to compensate slave workers used at its plants during World War II
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Deutsche Bank wants a US investment deal
Article Abstract:
Deutsche Bank is seeking a US investment partner to strengthen its market position in the US following the departure of three of its key investment bankers, who specialized in technology. Possible partners for an outright acquisition or a joint venture include J. P. Morgan, Lehman Bors., Paine Webber. and Hambrecht & Quist. Credit Suisse First Boston had recruited the three investors with financial packages reputed to be worth hundreds of millions of dollars. Deutsche Bank does not plan to compete with top US investment bankers who offer a full range of investor services.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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