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Exxon barred from Iraqi oil, gas auction
COLOGNE, Germany, May 6 (UPI) -- Germany's Postbank has announced it will sell its first public shares June 21, the German newspaper Die Welt reports.
Klaus Zumwinkel, head of Postbank owner Deutsche Post, announced the decision Thursday in Cologne, saying the bank had become "fit for the market" more quickly than expected.
Deutsche Post will retain at least 50 percent of Postbank ownership, giving it an easy controlling interest in the company.
Deutsche Post shareholders, employees and customers will have priority in buying the shares that are put up for sale.
Financial Times Deutschland reports that Deutsche Bank had expressed an interest in a complete sale of Postbank. A further sale beyond the initial 50 percent offering remains a possibility.
Zumwinkel said reports of attempts to sell all interest in the bank are speculation.
Postbank has 11.5 million customers and reported a balance of 132 billion Euros ($160 billion) in 2003.
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BAGHDAD, Feb. 14 (UPI) --
U.S. supermajor Exxon Mobil won't be able to take part in an oil and natural gas licensing auction scheduled for May in Iraq, a spokesman said.
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ARLINGTON, Va., Feb. 14 (UPI) --
The proposed U.S. budget, with its envisaged $487 billion defense spending cuts over 10 years, is seen as a "direct hit" on the aerospace and defense industry.
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Compared to whites, greater shares of both black and Hispanic young adults say owning their own home is among their top priorities. While 25 percent of blacks and 26 percent of Hispanics say owning a home is of the highest importance in their lives,...
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President Barack Obama has revealed a budget that, once again, will give the Republican party a chance to show that vitriol is more fun than compromise.
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