No state aid for a major retailer in Germany that claims it on the verge of going bankrupt

Taxpayers here in Germany will not be loaning any money to the country's most troubled retailer, Arcandor. The country's economics minister says Arcandor, which owns the department store chain Karstadt, does not qualify for emergency funds. Arcandor claims without state aid it will go bankrupt. But a merger may be in the works.