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Nationalized German lender Hypo Real Estate Holding AG said Friday that it lost euro750 million ($1.08 billion) in the second quarter as hefty loan loss provisions weighed down its performance.
German prosecutors said Saturday they have launched several investigations into suspected insider trading at troubled lender Hypo Real Estate Holding AG.
Troubled German lender Hypo Real Estate Holding AG on Saturday announced plans to cut about 1,000 jobs, more than half its current work force, by 2013 as it cuts costs following a government-backed rescue.
Hypo Real Estate Holding AG said the German government approved its request for a 15 billion euro ($19.6 billion) credit line, meant to guarantee its debt until it receives a larger bailout in a few weeks.
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