Business

German offshoot of Financial Times closing

BERLIN — The publisher of The Financial Times’ German offshoot says production will be stopped shortly and some 320 employees will lose their jobs.

The Financial Times Deutschland, which has a circulation of about 100,000, was launched at the height of the Internet boom in 2000 but was never profitable.

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Hamburg-based publisher Gruner + Jahr said in a statement Friday it sees ‘‘no way’’ to continue publishing the loss-making paper beyond Dec. 7 amid further falling revenues.

The paper’s journalists first reported that the daily is ‘‘about to be stopped’’ after a board meeting Wednesday.

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The publisher of the English-language Financial Times, Pearson PLC, sold its stake in the German paper in 2008.

Associated Press

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