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Porsche extends Mueller's contract for 5 years

The head of Porsche, Matthias Mueller, has had his contract renewed for another five years, the board of the German sports car company said on Friday. Mueller took charge of Porsche, a unit of Volkswagen, in October 2010 and his contract had been due to expire in January next year, before it was extended to the end of 2019. "Despite growth, we want to keep our Porsche culture, a path we are continuing with Matthias Mueller," the deputy chairman of the board, Uwe Hueck, said in the statement announcing Mueller's extension.

Football: Schalke head to buoyant Bayern after Real rout

Fresh from their record European defeat at home to Real Madrid, Schalke 04 face another potential drubbing when they travel to all-conquering Bayern Munich on Saturday. Schalke were routed 6-1 in Gelsenkirchen on Wednesday as Real's stars ran riot with Karem Benzema, Gareth Bale and Ballon d'Or winner Cristiano Ronaldo each netting two goals. "We have no choice, but to write off the game," said Schalke midfielder Julian Draxler in the wake of the Real debacle. "We have to get it out of our heads and prepare for Bayern."

German ex-president Wulff cleared in favours trial

A court on Thursday cleared former German president Christian Wulff of influence-peddling, closing a high-profile case that sparked the resignation of the former head of state two years ago. "The accused Wulff has been found not guilty," presiding judge Frank Rosenow told Hanover regional court, adding that the defendant was entitled to compensation for police searches in the investigation. "There is simply no powerful evidence against the accused," Rosenow said about Wulff, who was once a deputy leader of Chancellor Angela Merkel's Christian Democrats party.

German court clears disgraced former president of corruption

HANOVER (Reuters) - A German court cleared Christian Wulff on Thursday of corruption charges for accepting about 700 euros in expenses at a beer festival when he was a state premier, ending the country's first post-war trial of a former president. Once tipped as a future chancellor, the 54-year-old Wulff served just 20 months as president before resigning in disgrace in 2012 over favors he accepted two years before he was vaulted into the ceremonial post by his conservative ally Angela Merkel.

Allianz confident after profits rise 15% in 2013

Allianz, Europe's leading insurer, said Thursday that it is confident for business in 2014 after profits rose in 2013. "In a politically and economically challenging environment Allianz produced very good results for 2013, and we want to maintain that level this year as well," said chief executive Michael Diekmann. "The environment will remain challenging in 2014, but our performance shows that we are well positioned," Diekmann said. "Our operating profit outlook for 2014 is 10.0 billion euros ($13.7 billion), plus or minus 500 million euros," he said.

Football: German league leading scorers

Leading scorers in the German league after the weekend's matches: 14 goals: Lewandowski (Borussia Dortmund), Ramos (Hertha Berlin) 13 goals: Aubameyang (Borussia Dortmund), Mandzukic (Bayern Munich) 11 goals: Drmic (Nuremberg), Firmino (Hoffenheim), Lasogga (Hamburg) 10 goals: Hahn (Augsburg), Ibisevic (Stuttgart), Kiessling (Bayer Leverkusen), Müller (Bayern Munich), Rafael (Moenchengladbach) 9 goals: Okazaki (Mainz)

Football: Strugglers Hamburg stun Russia-bound Dortmund

Borussia Dortmund suffered a shock 3-0 league defeat at Bundesliga strugglers Hamburg on Saturday, just three days before their Champions League last-16 clash away to Zenit St Petersburg. Jurgen Klopp's Dortmund got the worst possible result ahead of their trip to Russia for Tuesday's first-leg clash while Hamburg recorded their first league win since November in Mirko Slomka's first match in charge as coach.

Volkswagen names Renschler as new trucks chief from February 2015

FRANKFURT (Reuters) - German carmaker Volkswagen <VOWG_p.DE> named former Daimler <DAIGn.DE> manager Andreas Renschler to head up its commercial vehicles business as it pursues its long-standing ambition to become Europe's biggest truck manufacturer. Wolfsburg, Germany-based Volkswagen said on Friday that Renschler's would succeed Leif Oestling in his new job on February 1 of next year.

Wagner great grand-daughter to quit Bayreuth Festival

Eva Wagner-Pasquier, great grand-daughter of German composer Richard Wagner, is to quit as co-chief of the legendary Bayreuth Festival in September 2015, according to a newspaper report Friday. Wagner-Pasquier, 68, currently runs the annual summer music bash dedicated exclusively to Wagner's operas, with her much younger half-sister Katharina Wagner, 36. They were originally appointed in 2008, taking over from their father Wolfgang Wagner (1919-2010), and their contracts are scheduled to expire in September 2015.

Football: New Hamburg boss Slomka relishing Dortmund test

New Hamburg coach Mirko Slomka has said he is relishing hosting Borussia Dortmund on Saturday as he begins the task of escaping the relegation places to ensure his new club's Bundesliga survival. Slomka penned a two-year deal as Hamburg coach on Monday, replacing ex-Netherlands boss Bert van Marwijk who was sacked last Saturday with the club second from bottom and on an eight-match losing streak. The 46-year-old Slomka has just 13 matches left to prevent former European champions Hamburg being relegated from Germany's top flight for the first time.
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