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☆ Austrian mayor shot dead with suspect on the run, police say
▼ + stars: | 2024-10-28 | by ( Claudia Otto | Christian Edwards | ) edition.cnn.com time to read: 1 min

CNN —The mayor of a northern Austrian town was shot dead on Monday morning and the suspect is on the run, local police said. Franz Hofer, mayor of Kirchberg ob der Donau, was killed in Altenfelden, near the border with Germany and the Czech Republic. A second man was also shot dead at a later time, Upper Austria police spokesperson Ulrike Handelbauer told CNN. “Unfortunately, we assume that the perpetrator we are looking for could be carrying the weapon,” Handelbauer said, according to local media. Police told CNN that the trigger of the crime appeared to be a dispute over hunting rights.

Persons: Franz Hofer, Ulrike Handelbauer, “, ” Handelbauer Organizations: CNN, Police Locations: Austrian, Kirchberg ob, Donau, Altenfelden, Germany, Czech Republic, Upper Austria

Outbound travel from China is set to receive a much-anticipated jolt as "Golden Week" bookings show changes in where and why Chinese people are traveling. While most Golden Week travelers are choosing mid-tier accommodations, growth for five-star hotels in Europe is almost three times higher in Europe than in Asia-Pacific, company data showed. Seeking quiet and concertsAs Chinese tourists continue to move beyond organized sightseeing tours abroad, more are seeking to celebrate Golden Week in off-the-beaten-path locations, especially in Asia and Europe, according to Trip.com's data. In Europe, bookings in Spain rose 260% to the city of Granada and 144% to Seville, according to Trip.com. Hong Kong is expected to welcome as many as 1.2 million mainland Chinese visitors during the coming Golden Week holiday, up 10% from last year, according to the city's Travel Industry Council.

Persons: Trip.com, Oscar Wong, Vietnam —, Ito, John Legend Organizations: National, Alibaba Group, United, United Arab, Goldman Sachs Equity Research, ASEAN, Golden, city's Travel Industry Locations: China, Asia, Pacific, Japan, Hong Kong, South Korea, Australia, Thailand, Malaysia, Singapore, Vietnam, Southeast Asia, United States, Chile, Croatia, Belgium, Hungary, Czech Republic, Finland, Norway, Netherlands, United Arab Emirates, Sri Lanka, New Zealand, United Kingdom, France, Spain, Europe, Trip.com, Cambodia, Laos, Myanmar, Tokyo, Kyoto, Yokohama, Phu, Granada, Seville, Golden, . Hong Kong

☆ 'Coolcations' had another big summer. Here are the places travelers went
▼ + stars: | 2024-09-27 | by ( Leila Najafi | Ulrike Lemmin-Woolfrey | ) www.cnbc.com time to read: +1 min

Extreme temperatures are driving travelers to seek cooler destinations. From January to June 2024, flight searches increased 705% to Lapland, Finland, according to Expedia. The online travel agency said flight searches are also up to Canada, specifically Banff (65%) and Lake Louise (55%), its data showed. "We live in the San Fernando Valley in Los Angeles where we experience extreme heat for most of the summer, reaching highs well above 100," she said. "We want to be comfortable when we are traveling to experience all a city has to offer and take a break from the extreme heat at home."

Persons: Lake Louise, Vrbo, Stephanie Greitzer Organizations: U.S . Environmental Protection Agency, Expedia, CNBC Travel Locations: Lapland, Finland, Canada, Banff, Lake, Breckenridge , Colorado, White, , New Hampshire, Pocono, , Pennsylvania, Whistler, San Fernando, Los Angeles

A couple, who argued with a passenger who reclined her seat, won't be flying with Cathay Pacific ever again. Cathay Pacific has not responded to CNBC's request for comment, but said in the statement that it "sincerely" apologized for the incident. The woman, who narrates parts of the video that was posted on the same platform, said the couple harassed her after she declined to return her seat to the upright position. Eventually, she was moved to another seat, the video showed. However, Cathay Pacific said in its statement that onboard staff had issued two "serious" verbal warnings to the two disruptive passengers.

Persons: Instagram Organizations: Cathay Pacific, London . Cathay, Cathay Locations: Hong Kong, London, London . Cathay Pacific, Cathay Pacific

☆ The unspoken rules of celebrating Oktoberfest in Munich
▼ + stars: | 2024-09-24 | by ( Ulrike Lemmin-Woolfrey | Chris Dwyer | ) www.cnbc.com time to read: +5 min

Oktoberfest is a worldwide phenomenon, a Bavarian beer festival celebrated in countries around the globe. Revelers, dressed in leather lederhosen, celebrate Oktoberfest in Munich on Sept. 21, 2024. A waiter brings beer to a table during Oktoberfest in Munich, Germany on Sept. 22, 2024. The world's biggest beer festival ends on Oct. 6, 2024. A waitress carries a tray of food at the start of the Munich Oktoberfest celebration.

Persons: Johannes Simon, Beer, Kirill Kudryavtsev, Revelers, Ein, driel, Crown Prince Ludwig, Princess Therese von Sachsen, Felix Hörhager, Alexander Hassenstein, Marco Polo, Jeff Dean Organizations: Munich's Department of Labor, Getty, Afp, Oktoberfest Museum, Oktoberfest Locations: Bavarian, Munich, steins, Germany, Hildburghausen, Munich's Beer, Salzburg, Austria, Rothenburg, Hong Kong, Hong Kong Harbour, Cincinnati , Ohio

☆ Germany’s doctors can prescribe four-week spa breaks to frazzled parents
▼ + stars: | 2024-08-01 | by ( Ulrike Lemmin-Woolfrey | ) edition.cnn.com time to read: +8 min

Those lucky parents may leave with doctor’s orders for a four-week spa break by the sea or in the mountains. Germany has around 350 designated spa towns, with many designated as UNESCO World Heritage sites. ‘I had severe sleeping problems’Focused on preventative as well as restorative care, a Kur is frequently aimed at burned-out parents. The proportion of single parents in MGW clinics is disproportionately high in relation to the overall share in society. “Together, solutions are developed that will help patients to cope with everyday life again and prevent (further) health problems,” Gerstkamp explained.

Persons: ”, They’ve, Cécile Poirot, ” Poirot, “, Müttergenesungswerk, Petra Gerstkamp, Gerstkamp, Poirot, ” Gerstkamp Organizations: CNN, UNESCO, Heritage, “ Locations: Germany, Baden, Wiesbaden, Bad, Europe, Elmshorn, Hamburg

☆ Exhausted at work, she spent four months in France and Spain on a $6,800 budget
▼ + stars: | 2024-07-26 | by ( Marylou Costa | Ulrike Lemmin-Woolfrey | ) www.cnbc.com time to read: +5 min

In 2023, Rowena Hennigan came to a difficult but necessary conclusion — she needed an extended break from work. That didn't leave much left for her travel budget, but Hennigan had a plan, she said. Hennigan spent the first few days on her own, before her husband and daughter joined her. The family plans to do another house sit in France during their summer holidays this year, she said. Total costs: around $300 (excluding Trusted Housesitters' annual membership fee of $240)The outcome of her four-month break

Persons: Rowena Hennigan, Hennigan, Spain —, France Hennigan Organizations: Gran Canaria Locations: Dublin, Hennigan, Zaragoza, Spain, Gran, Canary Islands, Spanish, Canfranc, France, Valencia, Formigal, Villembits, Tarbes

Paris boasts many luxurious five-star accommodations. For a break from the city, consider Chateau de Villette, a late 17th-century estate 40 minutes from Paris by car. France, the birthplace of the Michelin Guide, offers no shortage of luxurious dining, with 630 starred restaurants nationwide, including nine in Paris with three Michelin stars. Le Cinq, in Paris' Four Seasons Hotel George V, serves dishes by award-winning chef Christian Le Squer and wine from a cellar that can hold 50,000 bottles. Other notable options include Restaurant Kei, which fuses Japanese and Western cuisines, and Epicure in Le Bristol Paris, which serves elevated classic French fare.

Persons: Hôtel de Crillon, Karl Lagerfeld, Le, V, Christian Le Organizations: Paris, Ritz, Michelin, Le Bristol Paris, LVMH Locations: Villette, Paris, Versailles, France, Le Bristol

Singapore is the world's safest city for tourists, according to new research by Forbes Advisor. Out of 60 analyzed cities, the Southeast Asian city boasted the lowest natural disaster risk, and the second lowest health and infrastructure risks. Singapore was deemed to have the second lowest digital security risk on the list. After Singapore, the study ranked Tokyo and Toronto as the next safest cities for travelers. Tokyo was deemed to have the lowest health security risk, a testament to the quality of healthcare services in the city, and the fifth lowest infrastructure security risk.

Organizations: Forbes Advisor, Singapore Locations: Singapore, Tokyo, Toronto, Japan, Australia

☆ Packing your bags for Paris? Here’s what to expect from a visit this summer
▼ + stars: | 2024-07-19 | by ( Ulrike Lemmin-Woolfrey | ) www.cnbc.com time to read: +6 min

More restaurants and stores will be open in August to host the millions of visitors attending the Summer Olympic Games. Pawel Libera | The Image Bank | Getty ImagesBut this summer, many businesses and restaurants plan to take full advantage of the 11 million visitors expected to visit the city for the 2024 Summer Olympic Games. Paris has ramped up cycling paths and bicycle parking spaces ahead of the Summer Olympic Games, as part of an effort to make the city a cyclist-friendly metropolis. Instead ask for a "carafe d'eau," and you'll get chilled tap water, which is free and perfectly drinkable in Paris. Escape from the cityConsider a quick break from Paris and her crowds, but one that doesn't require going very far.

Persons: Kiran Ridley, planche, Elena Noviello, Ernest Hemingway, Michel, Charles de Gaulle, Louis XIV, Bois, Christophe Lehenaff Organizations: Pawel, Bank, Getty, Paralympic, Associated Press, Gare de, Saint Locations: Paris, —, Spain, Etoile, Saint, Germain, Laye, Bois de

☆ Move over, Nvidia: A portfolio manager at $204 billion TCW Group shares a cloud computing competitor and 3 other underrated AI trades
▼ + stars: | 2024-07-03 | by ( Christine Ji | ) www.businessinsider.com time to read: +3 min

In a recent interview with Business Insider, Evan Feagans, a portfolio manager at TCW Group, shared four under-the-radar investments in the AI space he likes — including an Nvidia competitor that nobody is talking about. No Nvidia monopolyWith Big Tech — Nvidia in particular — generating massive amounts of buzz around AI, it's easy to think that the current industry leaders will continue to reign supreme. You still need data to train it on." AdvertisementThe top underrated AI picksFeagans shared his top picks for under-the-radar AI investments that he believes have been overlooked amid the Big Tech rally of the last year. These investments encompass all parts of the AI value chain, including core technologies, commercial use cases, and auxiliary products.

Persons: —, Evan Feagans, Banks, Ulrike Hoffman, UBS's, Feagans, that's Organizations: Service, Business, TCW Group, Nvidia, Big Tech, UBS, Micron, Samsung, Intelligence, TCW Locations: what's

☆ UBS says AI may be one of the 'largest investment opportunities in human history.' Here's the bank's 4-step approach for investing in the technology.
▼ + stars: | 2024-06-22 | by ( Christine Ji | ) www.businessinsider.com time to read: +4 min

Big Tech companies are pouring billions of dollars into building data centers to train it. The AI Value ChainAccording to UBS, investors should approach the overall AI industry as three interconnected layers: enabling, intelligence, and application. By understanding the major players in the AI space and investing in the most critical parts of the AI value chain, according to UBS. The bank predicts that the AI landscape will be marked by "vertically integrated" and "monolithic" firms with the scale to reach across the AI value chain. However, its stock hasn't seen the price appreciation that domestic tech companies have, suggesting that there's ample room for valuations to expand.

Persons: Ulrike Hoffmann, UBS's Organizations: Service, Apple, Big Tech, UBS, Business, Nvidia, Dell, Broadcom Locations: China

☆ I finally had the chance to stay in a snow hotel along the Arctic Circle this year. I didn't last the night.
▼ + stars: | 2024-04-11 | by ( Ulrike Lemmin-Woolfrey | ) www.businessinsider.com time to read: +1 min

Ulrike Lemmin-WoolfreyI put on my boots and warm jacket and ran out of the snow hotel and into the night, where it was snowing beautifully. I ran across the path into the chalet my husband — already aware of my nighttime habits — had booked at a discounted price. On the hotel's website, one night in a one-bedroom chalet in February is listed at 8,000 Norwegian Krone, or $743. So, I peed in our private bathroom, slid into a real bed, with a real blanket, no dead reindeer or sleeping bag to battle with, and slept contentedly. But I'd only do it for one night, then off into the chalet for the next.

Persons: Ulrike Lemmin, —

☆ YouTube's relentless grind is causing an OG creator exodus. Jacksepticeye may be next.
▼ + stars: | 2024-04-10 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +8 min

Read previewRetirement could be on the horizon for gaming YouTuber Jacksepticeye — the latest sign of an OG creator exodus. AdvertisementThis admission shows that even the biggest and most successful content creators are struggling right now, feeling misplaced and confused about their future on an ever-changing platform. AdvertisementSince the Adpocalypse in 2017, when major companies threatened to pull their ads from YouTube, creators have been under increased scrutiny from the platform. The relentless content cycleBurnout has plagued content creators since the dawn of it becoming a legitimate career path in the noughties. When asked if he liked his fellow YouTuber, McLoughlin said "no."

Persons: —, he's, Seán McLoughlin, McLoughlin, I'm, Tom Scott, it's, I've, Forbes, trolled, Ulrike Gretzel, Tanja Schöllhammer, Brandon C Harris, YouTube McLoughlin, MrBeast, McLoughlin's, Harris Organizations: Service, OG, Business, YouTube, Mental, Journalism, Creative Media, University of Alabama

☆ Dealing with teenage daughters is difficult. Raising mine in the Middle East made it even harder.
▼ + stars: | 2024-04-01 | by ( Ulrike Lemmin-Woolfrey | ) www.businessinsider.com time to read: +4 min

Read previewMy husband and I were sitting outside our house in Dubai, ignoring the noise coming from partying teenagers inside. Instead, she was used to being brought back by car to our house after a sleepover at a friend's house. Parents and teenage daughter ballooning over the Yarra Valley in Australia. We packed up and moved to Australia, in order to allow our daughter a sample of "normal life" as a teenager. But that's normal teenage behavior too.

Persons: —, stealthily, It's, Christina, expat, Ulrike Lemmin Organizations: Service, United Arab Emirates, United Arab, Business, Burberry Locations: Dubai, United Arab Emirates, Doha, Qatar, Muscat, Oman, UAE, Yarra, Australia, Melbourne

☆ Americans are spending more on travel and live entertainment. But their personal saving rate has taken a dip.
▼ + stars: | 2024-03-30 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Four years later, American consumers have mostly moved on from the pandemic and are spending more on experiences than ever before. Prioritizing experiences, however, has led to a major shift in their financial lives: The personal saving rate in the US has declined considerably. In 2023, consumer spending on foreign trips and live entertainment rose by nearly 30 percent, according to the newspaper. Related storiesAt the same time, perhaps predictably, the US personal saving rate has declined, according to the bureau. In February, the personal saving rate was 3.6 percent, a drop from 4.1 percent the month before.

Persons: —, Ulrike Malmendier, Malmendier Organizations: Service, Business, Washington Post, University of California Locations: Berkeley

☆ Germany's refusal to send 'Taurus' missiles to Ukraine is highly contentious — but won't break the government
▼ + stars: | 2024-03-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

One key concern is that Ukraine may need on-the-ground help from German soldiers to work the Taurus missiles — a red line for Scholz. Since last November, the CDU has repeatedly tabled votes on sending Taurus missiles to Ukraine in Germany's parliament and failed. Annalena Baerbock, Green party foreign secretary, meanwhile, discussed Taurus missiles with U.K. foreign minister David Cameron. Separately, a high-profile Green party MP joined forces with a prominent CDU politician to pen an op-ed advocating for the delivery of Taurus missiles. "Unfortunately the Taurus debate keeps sucking up all the oxygen in the room, repeating itself over and over again.

Persons: Olaf Scholz, Macron, Tusk, Christoph Soeder, Scholz, Chancellor Scholz, Frank Sauer, Annalena, David Cameron, Ulrike Franke, MBDA, Matthias Balk, Sauer, Franke Organizations: Polish, Federal, Getty, Taurus, Bundeswehr, Russia, Christian Democrats, Free Democrats, Greens —, Scholz's Social Democrats, CDU, Greens, Social Democrats, University of, Metis Institute for Strategy, Foresight, CNBC, European Council, Foreign Relations Locations: Ukraine, Germany, Russia, Germany's, Taurus, Bundeswehr Munich, Green, Swedish, Berlin

Go beyond financial literacy"Gone are the days that we can hide behind the illusion that more financial literacy is enough," says Rahkim Sabree, AFC, financial therapist and counselor. Currently, 25 states require financial literacy education for students; however, rarely, if ever, does financial literacy address larger systemic issues that exist. Black students owe an average of 188% more than what white students borrowed by the fourth year after graduation. One 2016 study found that if current trends continue, closing the wealth gap would take more than 200 years. AdvertisementYounger Black Americans have now become the fastest-growing demographic of new investors in the stock market.

Persons: —, Martin Luther King, Jr, Moritz Kuhn, Moritz Schularick, Ulrike I, Rahkim Sabree, We've, Kristin Afelumo, Lazetta Rainey Braxton, Braxton Organizations: Service, Business, Federal Reserve Bank of Minneapolis, Black, National Bureau of Economic Research, Economic Policy Institute, AFC, Bureau of Labor Statistics, Netflix, Lazetta, Associates Locations: America, Evanston , Illinois, Black

☆ Daniela Klette: Red Army Faction suspect arrested in Germany
▼ + stars: | 2024-02-27 | by ( Story Reuters | ) edition.cnn.com time to read: +1 min

Reuters —Daniela Klette, a member of Germany’s notorious Red Army Faction (RAF) militant group, has been arrested in Berlin after decades on the run from armed robbery and attempted murder charges, prosecutors said on Tuesday. The arrest comes after a broadcast two weeks ago on the cold case show Aktenzeichen XY, in which a police appeal for information about three members of the group who are still at large, yielded 250 tips. Markus Heusler, the prosecutor on the case, confirmed that the woman detained on Monday, now aged 65, was Klette. She, along with the two other remaining fugitives from the gang, Burkhard Garweg and Ernst-Volker Staub, belong to the group’s so-called third generation. The charges facing Klette, along with Garweg and Staub, relate to millions of euros’ worth of armed robberies and at least one attempted murder committed between 1999 and 2016.

Persons: Daniela Klette, Markus Heusler, Burkhard Garweg, Ernst, Volker Staub, Andreas Baader, Ulrike Meinhof, Garweg, Staub, ” Organizations: Red Army Faction, Reuters, RAF Locations: Berlin, Cologne

☆ Caspar David Friedrich: The German artist’s rise from obscurity to fame
▼ + stars: | 2024-01-30 | by ( Catherine Hickey | ) edition.cnn.com time to read: +6 min

Caspar David Friedrich's work "Man and Woman Contemplating the Moon." Staatliche Museen zu BerlinThe Berlin exhibition, “Caspar David Friedrich: Infinite Landscapes,” will examine the Nationalgalerie’s role in rediscovering the artist at the beginning of the 20th century. Thanks to the royal purchases, Berlin has one of the most significant collections of Friedrich works in the world. SHK/Hamburger Kunsthalle/bpkThe German museums were in discussion about loans from Russia before February 2020, Verwiebe says. In 1974, long queues formed for a Friedrich exhibition at the Hamburger Kunsthalle marking his 200th birthday.

Persons: —, Caspar David Friedrich, Alte, Dresden’s, Caspar David Friedrich's, “ Caspar David Friedrich, Birgit Verwiebe, Friedrich, Clemens Brentano, Heinrich von Kleist, Frederick William IV, ”, Frederick William III, Charlotte, Tsar Nicholas I, Friedrich's, Verwiebe, — Hitler, London’s Tate, Christina Grummt, Friedrich sketchbook, Gerhard Richter, Julian Charrière, Olafur Eliasson, Ulrike Rosenbach, Kehinde Wiley, “, ” Grummt Organizations: The Art, CNN, Hamburg’s Kunsthalle, zu, Berlin Academy, SHK, Hamburger Kunsthalle, Staatliche, Villa Grisebach, Kunst, Metropolitan Museum of Art Locations: Germany, Weimar, Greifswald, Friedrich’s, zu Berlin, Berlin, Dresden, Oakwood, ”, Russia, Hermitage, St Petersburg, Hamburger, Ukraine, German, Villa, Greenland, Hamburg, Winterthur, New York

TOKYO, Nov 20 (Reuters) - Shares of Japan's Panasonic Holdings (6752.T) have rallied about 10% since it announced on Friday a plan to sell a stake in its automotive systems business and the unit's potential listing raised broader restructuring hopes. Over the last decade, Hitachi's shares have more than trebled, when taking into account dividends, compared to a 87% return by Panasonic. Investors reacted positively to the potential sale of the stake in the automotive unit, which makes cockpit and electronics systems. With its plan, Panasonic likely starts a journey to make itself into a company with a higher return on equity, they said. Panasonic's automotive unit is separate from its energy unit that makes batteries for electric vehicles, including those from Tesla (TSLA.O).

Persons: Damian Thong, Thong, Jefferies, Hitachi's, Ulrike Schaede, Daniel Leussink, Simon Cameron, Moore Organizations: Japan's Panasonic Holdings, Apollo Global Management, Panasonic, Hitachi, Macquarie, Investors, University of California San, Thomson Locations: TOKYO, Tokyo, Singapore, University of California San Diego

And now Ben Hammou faces another blow as the German government moves to end pandemic-era tax breaks for the hospitality industry. The fiscally hawkish FDP party, which has control of the finance ministry in the three-way ruling coalition, backs letting the tax break expire, calculating that it would cost 3.3 billion euros ($3.5 billion) to keep it going in 2024. Many restaurants operate on tight margins, which makes them quite sensitive to tax increases. In Spain, Italy and France, the VAT on restaurants is at 10%, considerably lower than the expected 19% in Germany from 2024. The question is whether German restaurants are still struggling or have recovered well enough from the pandemic to withstand having the tax break removed, according to Tomas Dvorak, senior economist at Oxford Economics.

Persons: Omar Ben Hammou, Ben Hammou, Christian Lindner, Guido Zoellick, Thijs Geijer, Ingrid Hartges, DEHOGA, Steffen Marx, Tomas Dvorak, Maria Martinez, Christian Kraemer, Tanja Daube, Ulrike Heil, Belen Carreno, Giselda Vagnoni, Thomas Leigh, Matthias Williams, Hugh Lawson Organizations: Restaurant Association, ING, Reuters, Oxford Economics, Thomson Locations: Bavaria, BERLIN, Berlin, Russia, Ukraine, COVID, Spain, Italy, France, Germany, Munich, Madrid, Rome, Paris

CNN —A zookeeper in Austria has died and another has been seriously injured after being attacked by a rhino, Salzburg police said on Tuesday. The rhino attacked a 33-year-old female animal keeper while she attended to her early morning work in the animal’s enclosure at Salzburg Hellbrunn Zoo, police said in a press release. According to its website, the zoo is home to 150 species and 1,500 animals – including white rhinos. White rhinos are the second-largest land mammal and they can weigh between 3,080 and 7,920 pounds, according to the World Wide Fund for Nature. With fewer than 16,000 white rhinos left, their status is near-threatened.

Persons: zookeeper, Ulrike Ulmann, “, Ulmann Organizations: CNN, Salzburg Hellbrunn Zoo, Salzburg University Hospital, Fund, Nature Locations: Austria, Salzburg, Tamu, Athos

☆ Euro zone inflation falls again in June as energy prices tumble
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +3 min

FRANKFURT, June 30 (Reuters) - Inflation in the euro zone extended its decline in June as the cost of fuel tumbled, more than offsetting an acceleration in prices for services, a preliminary reading showed on Friday. The data, pointing to only the smallest drop in underlying inflation, was unlikely to sway the European Central Bank, which has pencilled in a ninth consecutive rate hike for July and is eyeing one in September too. "Inflation is still high and sticky but momentum is moderating," said Frederik Ducrozet, head of macroeconomic research at Pictet Wealth Management. The euro zone unemployment rate remained at an historic low of 6.5% in May, Eurostat reported separately on Friday. Big differences remain between euro zone countries, with June headline inflation falling to as little as 1.6% in Spain and Belgium and 1.0% in Luxembourg while staying in double digits in Slovakia (11.3%) and close to them in the Baltics.

Persons: chalking, Frederik Ducrozet, Ulrike Kastens, Christine Lagarde, Neil Shah, Francesco Canepa, Catherine Evans Organizations: European Central Bank, Pictet Wealth Management, ECB, DWS . Services, Eurostat, Edison Group, Thomson Locations: FRANKFURT, Germany, Europe, Italy, Portugal, Spain, Belgium, Luxembourg, Slovakia, Baltics

☆ Audi ex-boss becomes first VW board member sentenced over diesel scandal
▼ + stars: | 2023-06-27 | by ( Jörn Poltz | ) www.reuters.com time to read: +2 min

Matthias Schrader/Pool via REUTERSSummarySummary Companies Stadler given suspended sentence, 1.1 mln euro fineFirst former VW board member sentenced for diesel scandal fraudFormer exec, engineer also sentenced and finedJune 27 (Reuters) - Former Audi boss Rupert Stadler was handed a suspended sentence of one year and nine months by a Munich court on Tuesday for fraud by negligence in the 2015 diesel scandal, becoming the first former Volkswagen board member to receive such a sentence. Prosecutors had originally wanted a 2-million-euro fine, citing Stadler's salaries at Audi and Volkswagen and his financial and real estate assets. Stadler's trial, one of the most prominent court proceedings in the aftermath of the diesel scandal, has been ongoing since 2020. Audi's parent group Volkswagen (VOWG_p.DE) and Audi admitted in 2015 to having used illegal software to cheat on emissions tests. Stadler was accused of failing to stop the sale of the manipulated cars after the scandal became known.

Persons: Rupert Stadler, Matthias Schrader, Stadler, Ulrike Thole, Groll, Wolfgang Hatz, Giovanni P, Joern Poltz, Victoria, Friederike Heine, Jason Neely Organizations: Audi, VW, Volkswagen, Prosecutors, Thomson Locations: Munich, Germany

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