Frankfurt

Deutsche reports third-quarter profit despite financial crisis

Frankfurt - In spite of the market turmoil unleashed by the world financial crisis, Deutsche Bank AG reported Thursday a third-quarter profit helped along by new accounting rules.

Germany's biggest bank said net profit in the three months to the end of September came in at 414 million euros (546.3 million dollars). This compares with a 1.63-billion-euro profit in the same period last year.

"After a period of exceptional market turbulence, the outlook for our business remains challenging," Deutsche chief Josef Ackermann said releasing the results.

"We will balance our dividend policy with our commitment to conserving capital strength in a highly uncertain environment," he said.

Oversized-baubles especially stylish this season

Frankfurt, Germany - Jewellery is experiencing a revival as a feature of outfits that are currently in. 

"Jewellery in over-dimensional sizes and large, shiny costume jewel in classic gold and silver is particularly eye-catching," said style consultant Andreas Rose of Frankfurt. Along with that there are stones inspired by natural colours in the shape of water droplets, flowers and leaves. 

These pieces look especially well when combined with black or other solidly coloured outfits. Rose said they are even being worn over coats. 

European stocks charge ahead on rate hopes

Frankfurt - European stocks stormed ahead Wednesday on hopes of lower interest rates.

Amid expectations of the US Federal Reserve delivering another hefty cut in borrowing costs Wednesday, Europe's blue-chip Stoxx 50 climbed 7.8 per cent to 2222 after chalking up even bigger gains during the day.

The positive mood was reflected across national bourses with shares in London gaining more than 6 per cent and Paris jumping more than 7 per cent as the afternoon session drew to a close. Stocks in Zurich were up 5.40 per cent.

Lufthansa issues profit warning

Frankfurt - German airline Lufthansa AG joined on Tuesday the growing list of European companies issuing profit warnings after high fuel costs hit the group's earnings.

European stocks rebound after rally in Asia

Frankfurt - European stocks rebounded Tuesday in the wake of a rally in Asian shares.

ECB chief signals rate cut as economic fears deepen

Frankfurt - European Central Bank (ECB) chief Jean Claude Trichet signalled Monday that the bank's rate-setting council might deliver another cut in borrowing costs at its meeting next month.

"I consider possible that the Governing Council will decrease interest rates once again at its next meeting on November 6," said Trichet in a speech delivered in Madrid and posted on the Frankfurt- based bank's website.

"It is not a certainty, it is a possibility," he said with analysts expecting the ECB to cut borrowing costs again next month by 50 basis points, or half of one per cent.

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