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...EY lost several big audit mandates in Germany, including Commerzbank, DWS and KfW, after its involvement in the Wirecard scandal, in which it failed to spot over several years that half of the payment group...
...She cites Germany’s development of green steel, using its state development bank KfW to make loans conditional on the introduction of environmentally friendly technologies....
...“Inflation may shortly dip below 2 per cent in the second quarter of 2024,” said Fritzi Köhler-Geib, chief economist at German state-owned development bank KfW....
...In 2021, the state-owned development bank KfW took a 25.1 per cent stake in sensor and radar maker Hensoldt, granting Berlin a blocking minority under German law....
...Tui would have gone bust without bailouts from the likes of the Berlin economic stabilisation fund (the WSF) and the German state investment bank (KfW)....
...The firm lost several large audit clients in the wake of the scandal, including Commerzbank, DWS and KfW, and has not won any significant new mandates recently....
...Since the Wirecard debacle, the firm has struggled to win any new high-profile audit client in Germany while losing several high-profile mandates including Commerzbank, KfW, DWS and Deutsche Telekom....
...Tui has a total of about €2bn in credit lines provided by the WSF and the German state-owned investment bank KfW, having already repaid €2bn in state aid....
...This authorisation will now be transferred to the KfW to allow it to support the energy sector. This “expands the [KfW’s] ability to provide stabilisation aid to energy suppliers”, officials said....
...The company was also given an €18bn credit facility by the German state lender KfW....
...Tui has about €2bn in credit lines provided by the WSF and the German state-owned investment bank KfW....
...Rathbones has also bought a green bond from German development bank KfW which has the advantage of being denominated in Norwegian krone, offering some protection from oil-induced inflation....
...State-owned German lender KfW will provide further financing in the interim....
...Fearing a collapse would ripple through the German economy, Berlin has already agreed to buy Uniper from Finnish energy group Fortum and extended a line of credit from state-owned KfW Bank totalling €18bn...
...In late August Uniper announced it had utilised the €9bn KfW credit facility in full....
...KfW and the German government declined to comment....
...These would be transferred to KfW, the state development bank, to bolster its ability to offer emergency aid to energy companies affected by the sharp reduction in gas supplies from Russia, an official said...
...The firm lost several large audit clients in the wake of the scandal, including Commerzbank, DWS and KfW, and hasn’t won any significant mandates recently....
...The German government’s intervention to save Uniper from insolvency will include buying out the group’s previous owner Fortum, an €8bn capital injection and a line of credit from state-owned KfW Bank totalling...
...It said the talks concerned “stabilisation measures” which could include guarantees, an increase in the current credit facility it was granted at the start of the year by the state-owned bank KfW, or the...
...As part of the bailout, Germany’s state-owned development bank KfW would provide Gazprom Germania with a €5bn-€10bn loan, the people said, while emphasising that talks were ongoing....
...A credit line from state-owned KfW bank will also be increased from €2bn to €9bn....
...was in talks with the German government on “stabilisation measures” to secure liquidity, which could include “equity investments” and an expansion of a €2bn credit facility agreed with the state-owned KfW...
...The ministers said Berlin was also planning to inject capital directly into companies via equity or hybrid investments, initially through KfW and subsequently through a separate fund....
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