Deutsche Bank says to solve problems without help from Berlin
FRANKFURT, Sept 26 Deutsche Bank will solve its problems without relying on help from Berlin, Germany's flagship lender said on Monday.
* Q4 GDP revised to -0.7 pct Q/Q from previously -0.9 pct
* Q4 GDP revised to -0.6 pct from -1.0 pct
COPENHAGEN, April 4 Denmark's economy shrank less than initially estimated in the final quarter of 2012, raising propects it was heading towards recovery after years of weak private spending.
The country's gross domestic product (GDP) contracted 0.7 percent in the fourth quarter from the third, revised data from the national statistics office showed on Thursday. Its preliminary reading was a 0.9 percent decline.
Year-on-year, GDP shrank 0.6 percent in the fourth quarter, revised from a 1.0 percent fall.
Denmark has struggled to recover over the past few years after a property bubble burst following the 2008-2009 financial crisis, denting private consumption and hurting business confidence.
Thursday's data showed personal consumption rose 0.1 percent year-on-year in the fourth quarter, better than a previously flat reading.
Danish Chamber of Commer economist Bo Sandberg said the data showed growth was still weak, but added: "It is, however, pleasing that it is the private sector which drives today's revision of the GDP development."
Denmark has fared worse than its Nordic neighbours Sweden and Norway during the crisis and is still trailing behind them in terms of growth.
Last month, the Danish government lowered growth expectations for the domestic economy in 2013 to 0.5-1.0 percent from a previous forecast of 1.2 percent as a result of weak demand from the euro zone. The central bank has also cut its outlook for this year.
LONDON, Sept 26 Turkish stocks, bonds and the lira sold off on Monday after a credit rating downgrade to junk while rising unease over U.S. politics and a meeting of oil exporters spurred broader emerging markets weakness.
FRANKFURT, Sept 26 ** German chemical maker Lanxess said on Monday it was confident that no rival bidder would trump its $2.7 billion takeover offer for U.S. peer Chemtura. ** "Chemtura's business is currently benefiting from clear advantages from raw materials, that's why we regard the price that we will pay as a really fair value," Chief Executive Matthias Zachert told journalists during a conference call. ** "We don't believe that there are other (bidders) that have such clear syn