Fortune 500 Global

FRANKFURT (Dow Jones) – Karstadt Investor Nicolas Berggruen has an important hurdle in its planned takeover of the department store group taken . A spokesman for the Berggruen Thursday said , have the Senior B bondholders at a meeting in London the Berggruen Plan to 100 % agreed . ( Reuters photo

These creditors are Part of the consortium that owns the Karstadt homes .
Now you have another group of creditors of the plan Berggruen agree . This is the mezzanine creditors. The final decision to seal the deal must then be at Friday, a bankruptcy court in Essen cases .
The dispute over the rental terms has several times on an extension of the period led . In principle, have Berggruen Consortium and the landlord , although the amount of the rent reductions can agree , however, prevailed over details yet Disunity. An agreement of all parties is a prerequisite for the Entry into force of the Karstadt insolvency . Suppliers and Employee representatives have already agreed to cuts .

  - By William Launder , Dow Jones Newswires   +49 ( 0 ) 69 29 725 110, unternehmen.de @ dowjones.com   DJG / DJN / kla / has / mrf  

MUNICH (Dow Jones) – Allianz SE will sales vehicle insurance through car dealers unchanged in three to five Years to around EUR 2 billion gross premium increase . Karsten Crede , Director Global Automotive of the group , said on Thursday in Munich , this Medium-term goal is " ambitious but realistic ". (Photo : Allianz )

2009 had the Alliance on such collaborations worldwide gross premiums in the volume occupied by approximately EUR 1.5 billion .
So far, the policy makes sale on the dealer only one small part of the car insurance business of Allianz . 2009 were EUR 12.5 billion gross premiums together from other distribution channels. The insurance of second-hand car dealer is about the not included above EUR 1.5 billion , "said Crede .
So far , the alliance sells their car insurance all over Germany in dealer networks. Expand the Group intends However, abroad : So , its presence in the so-called are BRIC countries – Brazil , Russia , India and China strengthened – as alliance manager pointed out Crede .
Are aiming for in the U.S. and China " significant position "at  Market, the alliance had issued in July as the target , but is probably longer time coming than last thought. The U.S. business are still in an " initial phase ", admitted one Crede on demand.  A cooperation agreement is there still not there. So far, the Alliance for 28 countries signed cooperation agreements with manufacturers .
Crede Manager reiterated the goal of profitability in the to increase car insurance. The hard and long winter had many small and medium-sized damage resulted , and the result significant. Specifically, the claims expense ratio , which in the Industry as an indicator of the rate of return is , to fall back below 98 %.
Crede said he wanted to work with four of the five major producers intensify the extent that they are requesting " strategic " deserve. End of 2009 was the manager of the Volkswagen insurance switched to the Alliance. Besides Volkswagen aims the alliance after its presentation to Toyota , General Motors, Ford and  BMW.
For BMW and Daimler, its German dealers to their customers current vehicle insurance from HDI and Victoria (Ergo ) volunteered to the alliance , he said, at any time for collaboration ready. To expand sales of insurance on car dealers Crede calculated at around EUR 20 million initial investment for Information technology, human resources, and product development.

Website: www.allianz.com 

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FRANKFURT (Dow Jones) – New orders in the German mechanical and plant engineering has attracted strong again in July , due mainly to strong demand from abroad. As the German Engineering Federation (VDMA ) on Wednesday announced in Frankfurt, the order was received in real terms by 48% over the previous year. ( Reuters photo

The domestic business grew by 38 %, while foreign demand rose by as much as 54%.
In the less affected by short-term fluctuations in three-month comparison Mai to July 2010 showed a total contract increase of 57% year on year . Domestic orders grew by 51 % and those from abroad by 60%.
The second half did with Unbridled growth momentum for the establishment order intake started in engineering, commented VDMA chief economist Ralph Wiechers the result. This applies to both domestic and foreign orders . "The order curve taken since last summer, an almost exemplary V -shaped curve , "said Wiechers . "In the three- month comparison since all the specialist branches are located in the Plus , but with extremely different rates. "

Website: www.vdma.de
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BERLIN (Dow Jones) – The final version of the fuel tax law is on , according to Finance Minister Wolfgang Schäuble ( CDU) until the Cabinet meeting 28 September in connection with the presentation of the energy – policy concept of the Federal Government decided. ( Reuters photo

Accordingly, the draft has to fuel tax in the cabinet meeting on Wednesday , only acknowledged and approved , Schäuble said at the presentation of the Budget Support 2011 in Berlin.
The Government thus takes account of the ongoing discussions with the NPP operators using an alternative to the tax. Schäuble, but left no doubt arise , that the proposed revenue totaling EUR 2.3 billion annually to the budgetary consolidation ‘m not at stake. However, it was open for a similar solution to the nuclear fuel tax, the minister said.
Schäuble said , might regard the level and duration of the fuel tax be taken from design to alternative arrangements. The minister left open whether the tax should be indefinite . How long will the tax should be levied , until the introduction of the energy of the Federal Government decided in late September , said the Federal Minister of Finance. applies for the same tax rate , said Schäuble.
Website: www.bundesfinanzministerium.de

- By Beate Preuschoff , Dow Jones Newswires , +49 ( 0) 30-2888 4122 , beate.preuschoff @ dowjones.com

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MONHEIM (Dow Jones) – Bayer CropScience in the UK get the world’s first regulatory approval for the corn fungicide " Bixafen . As the daughter of the Leverkusen-based Bayer AG on Wednesday announced that it expects a global annual peak sales potential of around EUR 300 million. (Photo : Bayer CropScience)

The launch of Bixafen in the UK is planned for the growing season 2011th In addition, Bayer CropScience expects in Germany soon more registrations for products based on the new drug.
Bixafen , a substance from the group of pyrazoles belong to a new generation of so-called SDH inhibitors ( succinate dehydrogenase ), said it further. It was specifically designed for foliar application to fight major cereal diseases – such as the leaf blotch – was developed in regions with intensive cereal cultivation.

Website: www.bayercropscience.com
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