News Update – July 5th 2024

Welcome to the Business News Update, your go-to source for the
latest insights and updates from the German market. Our
professional and concise podcast delivers the most recent economic
news, stock market trends, and innovative developments in the
business world. Perfect for business enthusiasts and professionals,
each episode provides valuable information to help you stay
informed and ahead of the curve. Tune in for expert analysis and
comprehensive coverage of the news that matters most to you.

Transscript

Welcome to the infobrokerworld News Update, where we bring you the
latest insights from the German market…..

Today is June 5th 2024.

My Name is Ray Cooks the AI voice of the infobrokerworld Audio
Line.….

and here are today's top stories.

First up, the auction of Heidi Horten's estate raised a whopping
3.8 million euros, with 85% of the lots sold.

In banking news, the Berliner Volksbank has reportedly terminated
the AfD's account. Additionally, two foreign banks are entering the
German market with low-cost current accounts, but existing
attractive offers come with some challenges.

Turning to the consulting industry, Goetzpartners is likely up for
sale following the arrest of its leaders. Meanwhile, Maren
Hauptmann has been appointed as the new head of Deloitte's German
advisory business as part of a major restructuring effort.

In finance, Fritzi Köhler-Geib is moving from KfW to the
Bundesbank. Looking ahead, Raisin, a Berlin-based fintech, is
planning the largest German fintech IPO in 2025.

In the retail sector, Fressnapf has secured a new investor and is
planning aggressive growth across Europe. Lastly, private banks in
Germany have agreed on a 10.5% pay increase for their employees, to
be implemented in three stages.

That's today's business update. Thanks for tuning in to Business
Insights. See you next time!