World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
German Retail Group Arcandor Files for Bankruptcy
Keywords:
Tags:
German retailer Arcandor filed for bankruptcy after the government rejectd arequest for a loan guarantee for $650 million euros. Arcandor's Karstadt departmetn stores are in most downtown shopping areas in Germany. Faced with aloan repayment of 710 million euros, Arcandor was in talks to merge with its competitor Metro which has theKaufhof department stores. Karstadt has 89 stores in Germany and 43,000 employees. The rejection by Chancellor Merkel has some political risk and Merkel is counting on the public opinion against bailouts to withstand the fallout from the increase in the unemployed. The government setup a115 billion euros rescue fund in March, but this is meant to help only those companies that ran into difficulties from the financial crisis not from management misdeeds or mistakes.
How Ms. Merkel is defining German goals and programs during the global economic and financial crisis of 2008-2009.
09/09/2008
Merkel has quietly established her own approach and style of governing, less on rhetoric, and more on substance and social market principles that are popular in Germany. Her popularity goes far beyond that of the CDU, and she has defined new positions for the CDU, from aiding workers, promoting daycare, fighting for environmental goals, and bringing a new perspective on immigration. The result is a distinctly German approach to the crisis based on German conditions and preferences.
Grouped Articles
German Election Overturns Political Order
Wall Street Journal 09/23/2013
Wall Street Journal 09/09/2008
Europe Races to Shore Up Banks as Crisis Spreads
Wall Street Journal 10/06/2008
German Exporters Feel the Financial Squeeze
Wall Street Journal 10/21/2008
German Banks Now Face Big Losses From Their Misadventures in Iceland
Wall Street Journal 10/24/2008
Despite Crisis, Germany Sees Russia as Land of Opportunity
New York Times 10/25/2008
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us