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Financial News

Sunday June 14, 05:28 AM

 

 

The state-owned development bank KfW rejected a request for aid from the retail and tourism group Arcandor

By Timm Schamberger

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Employees of German retailer Karstadt, which belongs to Arcandor, hold up a poster which reads Employees of German retailer Karstadt, which belongs to Arcandor, hold up a poster which reads "Its about 56,000 jobs" during a protest rally in the southern German city of Nuremberg. Germany, having orchestrated a rescue for automaker Opel, is trying to keep the lid on a Pandora's box of state aid, even if it means turning away luxury sports carmaker Porsche and retailer Arcandor.


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