Germany’s two biggest department stores have signed a deal to merge as pressure from low-budget retailers and online platforms hit sales.
Germany's two major department store chains Kaufhof and Karstadt have sealed a merger to salvage their operations amid fierce competition from e-commerce players. The tie-up will include a cash injection and job losses.
Special promotion days such as Black Friday and Cyber Monday have slowly but surely changed Germany's retail landscape. More and more consumers are hoping to secure deals, but that doesn't mean everyone is happy.
It's not every day that a stock market index turns 30, but Germany's famous DAX is celebrating this milestone. The index is a living piece of the country's economic history.
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