Frankfurt  - Deutsche Telekom will not renew its multi- million euros (dollars) contract as German Bundesliga football sponsor after the season, a news report said.

Focus news magazine said in a report made available ahead of Monday's publication that the company will end its engagement after three years. No reasons were given.

The German football league (DFL) refused to comment on the issue on Sunday.

Frankfurt - The German Bundesliga had its most successful financial year ever in the 2007-08 season and is well prepared to handle the current global economic slowdown, the German Football League (DFL) said Thursday.

The presentation by the DFL board showed that the 36 first and second division clubs registered a record turnover of 1.93 billion euros (2.45 billion dollars) and reduced their combined liabilities to just under 470 million euros.

Frankfurt - German luxury carmaker Audi said Tuesday it was facing up to the toughest year in the history of the car industry - despite reporting a record business year in 2008.

The group said pre-tax profit rose 9 per cent last year to almost 3.2 billion euros (4 billion dollars) with vehicle sales breaching the one million mark after climbing by 4.1 per cent.

The luxury offshoot of Europe's biggest carmaker Volkswagen said operating profit grew by 2.5 per cent to 2.77 billion euros.

Frankfurt  - Germany's key chemical industry ruled out Tuesday a rapid rebound in its business, forecasting a 3.5 per cent fall in production this year as the global recession gains momentum.

In particular, the nation's chemical industry association (VCI) said slumping demand from industrial customers had hit what is one of Germany's top export sectors.

Frankfurt - German energy giant E. ON AG has become the nation's latest company to scale back its earnings forecast Tuesday, warning of the tough economic times ahead and as a result sending its shares sharply lower.

The group's announcement that slumping energy demand meant it expects 2009 profit to drop by about 10 per cent compared to last year resulted in its shares falling 7.6 per cent in early trading to 18.69 euros (24 dollars).