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Financial Times' German offshoot to close

The publisher of the Financial Times' German offshoot has said production will be stopped shortly and some 320 employees will lose their jobs.

The Financial Times Deutschland has a circulation of about 100,000.

It was launched at the height of the Internet boom in 2000 but was never profitable.

Hamburg based publisher Gruner + Jahr said it sees "no way" to continue publishing the loss making paper beyond December 7 amid further falling advertisement revenues.

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

The publisher of the English-language Financial Times, Pearson, sold its stake in the German paper in 2008, but it continued to appear on the same distinctive salmon-colored paper.