Cryptoger

Germany is preparing to end its long-standing crypto tax exemption as Finance Minister Lars Klingbeil revives a proposal to tax digital asset gains regardless of holding period.

Deutsche Bank AG Chief Financial Officer Raja Akram discusses the lender's performance in the first quarter as it posted higher-than-expected profit and revenue as income from trading held up and it earned more from asset management and retail banking. Akram says April "started constructively" after some jitters in March. He also discusses private credit and the uncertainty around the situation in the Middle East. Akram speaks to Bloomberg's Oliver Crook.

Ifo President Clemens Fuest says Germany could be "at the beginning of a stagflationary shock" after the institute's expectations index dropped to 83.3 in April from a revised 85.9 the previous month the lowest level since August 2023. He speaks on Bloomberg Television.

Business activity in the euro area unexpectedly shrank for the first time since late 2024 due to a steep drop in the services sector as the Iran war weighs on consumers. Bloomberg's Zoe Schneeweiss reports.

Deutsche Telekom is considering a full combination with its American arm T-Mobile US, a move that would create a multinational telecom group and rank as the largest-ever public M&A deal, people with knowledge of the matter said. Bloomberg's Manuel Baigorri reports.

UniCredit CEO Andrea Orcel said he'll put his yearslong effort to buy Commerzbank on hold if his takeover bid fails to win him control over the lender. "If we do not reach control, we will take a pause, and we will focus on other topics that we have internally," Orcel said on Bloomberg Television.

German lender Commerzbank AG says it has formally rejected Italian rival UniCredit Spa's latest takeover proposal, saying it lacks value and undermines trust. Bloomberg's Tom Metcalf reports.

Chancellor Friedrich Merz said he plans to convene Germany's national security council, adding that the council is empowered to take immediate action to ensure the nation's energy security if needed. Meanwhile, Germany's sovereign wealth fund, known as Kenfo, is abandoning long-held restrictions on investing in weapons manufacturers. Bloomberg's Oliver Crook reports.

Commerzbank CEO Bettina Orlopp says that she has had some talks with UniCredit SpA about a deal after the Italian bank announced a takeover bid for the German lender. She speaks with Isabelle Lee on "Bloomberg The Close."

UniCredit made a 35 billion ($40 billion) bid for Commerzbank that will allow it to increase its shareholding beyond 30%, easing the path for a potential future acquisition. Bloomberg's Tommaso Ebhardt reports.