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Historic German store KaDeWe files for insolvency
Historic German store KaDeWe files for insolvency
Economy
by  AFP

Iconic Berlin department store KaDeWe said Monday it had filed for insolvency, as rising rental prices in Germany left it struggling to stay afloat. Its iconic status has seen it become the subject of a television series in Germany, which dramatised the lives of employees at the up-market department store.

Buried in massive debt, Italy puts crown jewels up for sale
Buried in massive debt, Italy puts crown jewels up for sale
Economy
by  AFP

Prime Minister Giorgia Meloni once declared Italy's postal service a "crown jewel" that must stay in state hands, but she is now selling a stake as part of a privatisation programme to tackle a huge public debt. Nevertheless, the decision to sell a stake in the postal service to foreign investors marks a shift from a statement she made in 2018, four years before becoming prime minister.