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English | Financial news with a German perspective

Reports, insights, analyses and opinions on Europe's biggest financial market.

Protectionism is high on the agenda at the White House. But the EU is hardly beyond reproach.

A regressive turn in trade policy

The rise of protectionism is eroding global prosperity. The United States may be the cautionary example, but the EU has its own problems with internal trade barriers.Show more
EditorialProtectionism
by Martin Pirkl
Left to Right. Sebastian Schmid (Börsen-Zeitung), Tom Alzin (DBAG), Prof. Gerd Merke (Euroroc), Timo Tauber (Viessmann Industries Holding).

Family businesses are getting closer to private equity

The relationship between family owned businesses / SMEs and private equity investors is changing. In particular the younger generation of company owners are willing to work with private equity.Show more
Private Markets Week 2025SMEs
by Detlef Fechtner
Seit über 50 Jahren war kein Mensch mehr auf dem Mond. Das dürfte sich in den kommenden Jahren ändern.

The race for space’s treasures

The United States and China are competing for dominance in space, while Europe lags behind. Outer space offers not only crucial applications for research and the military, but also significant opportunities for industry.Show more
AnalysisIndustrial policy in outer space
by Martin Pirkl
CEO Miguel Ángel López Borrego is restructuring the Thyssenkrupp group.

„We need industrial champions in Europe“

Thyssenkrupp CEO Miguel López supports the creation of major industrial players in Europe. He envisages more spinoffs at Thyssenkrupp, transforming the conglomerate into a financial holding company positioned as a dividend stock.Show more
Private Markets Week 2025A conversation with Thyssenkrupp CEO Miguel López
by Heidi Rohde
With the completion of the billion-pound takeover of Tipico, the balance within the Banijay Group's portfolio is shifting in favour of an approximately equal distribution of revenue between the Entertainment & Live and Gaming segments.

CVC sells Tipico to French sports betting company

The French entertainment group Banijay is acquiring the German sports betting provider Tipico and is merging the company with Betclic. The new entity will be the fourth-largest European sports betting provider.Show more
Private Equity
by Christoph Ruhkamp
Jens Eisenschmidt, Chief Europe Economist at Morgan Stanley.

„We have become too closed off in Europe.“

In this interview, Jens Eisenschmidt, Chief European Economist at Morgan Stanley and former ECB economist, argues for more Europe in a rapidly changing world. He believes this would lead to more investment and maintained production – and give the economy more momentum.Show more
Interview withJens Eisenschmidt, Morgan Stanley
by Alexandra Baude
Künftig soll grüner Stahl Kern des Geschäftsmodells am Standort Salzgitter sein

Salzgitter uses Aurubis stake for convertible bond offering

Salzgitter AG has used its stake in Aurubis to raise funds via a convertible bond. But it says that it remains committed to holding a substantial stake in the copper group – which is currently just under 30%.Show more
Bond offering
by Carsten Steevens
Telecoms and navigation are two important areas where Europe seeks more strategic autonomy.

European satellite giant to be based in Toulouse

The merger of the space activities of Airbus, Thales, and Leonardo is expected to be completed by mid-2027. The three companies say that the new joint venture aims to strengthen Europe’s strategic autonomy in space.Show more
New joint venture for strategic autonomy in space
by Gerhard Bläske and Gesche Wüpper
Chief Financial Officer of Aurubis for over a year: Steffen Hoffmann

Aurubis is fully banking on the metal boom

Multimetal producer Aurubis is highly sought after by investors this year. The MDax company, valued at around 5 billion euros, wants to profit from the metal demand generated by technological megatrends. In an interview, CFO Steffen Hoffmann even refers to it as the „decade of metals“.Show more
CFO-Interview withSteffen Hoffmann, Aurubis
by Carsten Steevens
Toyota defied the sharp increase in US import duties with unexpectedly strong sales growth.

Hybrid just keeps on running and running and running

Despite the sharp increase in US import duties, Toyota's sales in the US are growing faster than the total market. The reason for this is Toyota's focus on „normal“ car buyers.Show more
OpinionStrong Toyota sales in the US
by Martin Fritz
Cambridge Associates CEO David Druley.

“More billionaire families as clients than any other wealth advisor in the world“

Cambridge Associates is stepping up its efforts to attract clients in Europe, and is opening a new office in Milan. CEO David Druley discusses the company's strategy in an interview with Börsen-Zeitung.Show more
Interview with David Druley and Alexander Koriath, Cambridge Associates
by Michael Flämig
Germany is looking for more foreign investment.

Overlapping initiatives to attract foreign investors

Investing in Germany was meant to become simpler, not more complicated. The coalition government is sowing confusion with new advisers and overlapping initiatives.Show more
EditorialForeign investment in Germany
by Angela Wefers
Till Jung, Head of Sustainability Business, ISS Stoxx.

Despite a growing volume of data, gaps remain

New EU rules on ESG ratings are enhancing transparency and comparability – but without standardising the outcomes. Till Jung of ISS Sustainability Solutions discusses the likely impact of the ESG Ratings Regulation.Show more
A conversation withTill Jung
by Wolf Brandes
In the US, users have been able to pay with Bitcoin via PayPal since 2021.

Europe’s banks still on the sidelines

Wero's gentle pace of innovation does not give the impression that it can really compete with PayPal and other established payments players. For a European solution, the digital euro appears to be a better initiative – if it is introduced soon.Show more
OpinionDigital payments
by Heidi Rohde
Left to Right. Laurent Chatelin (Eurazeo), Maria Aguilar-Wittmann (Allianz Global Investors, Heidi Rohde (Börsen-Zeitung), Achal Arora (Legal & General).

Data centres pose new challenges for infrastructure investors

The boom in artificial intelligence is prompting investors to pour huge sums into digital infrastructure such as data centres. The risks are different to traditional infra market segments.Show more
Private Markets Week 2025 AI data centre boom
by Sebastian Schmid
Left to Right. Frédéric Jariel (Tikehau Capital), Michiel te Paske (Generali Real Estate), Felix Chemnitzer (Berenberg), Sebastian Schmid (Börsen-Zeitung).

Revival of real estate transactions in sight

After years of low activity, real estate experts are expecting a noticeable increase in transactions during 2026. One of the factors is that price expectations of buyers and selling are at last converging.Show more
Private Markets Week 2025Real estate
by Detlef Fechtner
Crypto assets are subject to tax – but few people are aware of this.

Tax authorities are now cracking down more strictly on crypto transactions

Few people realise that crypto assets are also subject to tax. The tax authorities have now purchased a data package to track down tax evaders. A new law could also be on the way.Show more
AnalysisNew reporting requirement becomes law
by Angela Wefers
Seit 2020 persönlich haftender Gesellschafter bei Berenberg: Christian Kühn

Berenberg reaffirms its commitment to Hamburg

Berenberg has a new headquarters building in Hamburg. In an interview with Börsen-Zeitung, Managing Partner Christian Kühn talks about the thinking behind the move, and the bank's domestic German and International strategy.Show more
An interview withChristian Kühn
by Carsten Steevens
From Left to Right, Verena Kempe (Kenfo), Max Wirsching (KfW), Frank Dornseifer (Bundesverband Alternative Investments) discuss private investment in infrastructure with Detlef Fechtner from Börsen-Zeitung.

With the proper framework, investment will flow naturally

German institutional investors are still taking their money abroad when it comes to infrastructure. Speakers at the Börsen-Zeitung Private Markets Week discussed how to reverse this trend.Show more
Private Markets Week 2025Investing in German infrastructure
by Nina Bub and Heidi Rohde
Ilse Henne has been head of the Thyssenkrupp Materials Services business unit since mid-2024.

The next stock market candidate from the Thyssen portfolio

Following the IPO of thyssenkrupp marine systems (TKMS), the Materials Services division is the next likely candidate to be spun off. Thyssenkrupp Materials Services CEO Ilse Henne and CFO Daniel Wodera discuss the company strategy.Show more
A conversation withIlse Henne and Daniel Wodera, Thyssenkrupp Materials Services
by Annette Becker
Drones are a growth area in the defence sector.

Making moves in the defence sector

The sharp rise in defence spending is motivating a growing number of companies from other industries to enter the arms industry. But the hurdles can be high.Show more
AnalysisHeideldruck, Deutz, AT&S
by Daniel Schnettler
Martin Kassing is one of the founders and CEO of Upvest.

Upvest considers itself well prepared for early retirement pensions

Things are going pretty well for Upvest at the moment: the Berlin-based company has won a prestigious mandate for securities trading with DKB. And everyone at Upvest is already in the starting blocks, ready to launch early retirement pensions and retirement savings accounts.Show more
A conversation withMartin Kassing, Upvest
by Björn Godenrath
CCS and CCU are by now considered indispensable on the path to decarbonizing industry.

Time to put all that carbon dioxide underground

In some industrial sectors, capturing and storing CO₂ underground is considered essential for decarbonization. The legal framework required for CCS is set to be passed in 2025.Show more
AnalysisCCS and CCU ready for launch
by Andreas Heitker
Felix Hüfner, Chief Economist at UBS and Chairman of the Economic and Monetary Policy Committee of the Association of German Banks.

Fundamental economic reforms needed alongside the fiscal package

In an interview with Börsen-Zeitung, Felix Hüfner, Chief Economist at UBS Germany, discusses the infrastructure and defence spending packages, the need for economic reforms, and the outlook for the German economy over the next couple of years.Show more
Interview withFelix Hüfner, UBS and Association of German Banks
by Alexandra Baude
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