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☆ Eurowings warns pilot demands threaten jobs
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +1 min

An aircraft stands on the airfield as pilots at Lufthansa's budget airline Eurowings go on a one-day strike at Cologne-Bonn airport, Germany, October, 6, 2022. REUTERS/Benjamin WesthoffFRANKFURT, Oct 15 (Reuters) - Lufthansa's (LHAG.DE) budget division Eurowings warned on Saturday that pilots' demands to ease their workloads is putting jobs at the airline at risk. The union wants Eurowings to lighten pilots' workloads by, for example, increasing their rest periods. "The union's position eats away at the prospects of Eurowings Germany," the airline said. A one-day strike earlier this month saw Eurowings operate at half capacity, affecting around 30,000 passengers.

☆ Germany's Scholz calls for bigger European Union
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Oct 15 (Reuters) - German Chancellor Olaf Scholz on Saturday called for an expanded European Union, telling a gathering of European social democrats that it would then be able to better pull its weight in global affairs. Since assuming office, Scholz has made European Union expansion to include the Balkans and others nations a major plank of his foreign policy. It has taken on more urgency since Russia's invasion of Ukraine, which became a candidate for EU membership early this summer. "An EU with 27, 30, 36 states, with then more than 500 million free and equal citizens, can bring its weight to bear even more strongly in the world," Scholz said at the congress. That the EU continues to grow eastward is a win-win for all of us," he said.

☆ 86% of Gen Z interns think a recession is coming—and it's changing their approach to their careers
▼ + stars: | 2022-10-12 | by ( Jennifer Liu | ) www.cnbc.com time to read: +7 min

Cassidy Case is a few months into her fall internship, but she's already planning ahead for summer. As young workers search for stability and meaning when entering the working world, they're changing their behaviors and mindsets to "recession-proof" their futures. At this stage of their lives and careers, Gen Zers want flexibility in the way they live and work most of all, Cruzvergara says. At the University of Arkansas, 21-year-old senior Oliver Sims also has his summer work plans locked in. "You could work remotely from your parents' house for a company with an office based in New York."

FRANKFURT, Oct 11 (Reuters) - German online bank N26, which is being monitored by German financial regulators, on Tuesday reported a wider loss for 2021 and a slowing in customer growth, capping a year of setbacks for one of Europe's most valuable fintechs. The Berlin-based bank's 2021 loss increased to 172 million euros ($167.10 million), from a 151 million euro loss in 2020. It added one million new customers last year, down from the two million customers that were added in the previous year. N26, founded in 2013, was valued at more than $9 billion after it completed a $900 million fundraising round in 2021. Of its 8 million customers, 3.7 million are generating revenue, it said.

Laurene Powell Jobs doesn’t tend to court the limelight. Over the past decade, she’s given only 10 interviews for publication. So why speak now, when there’s hardly a pressing reason for her to take the public stage? “My main reason is to cut through the misunderstanding and misconceptions,” says Powell Jobs—the ones about her 11-year-old organization, Emerson Collective, which is part philanthropy, part Sand Hill Road venture-capital powerhouse, part artistic patronage and part immigration-education-environmental advocacy group. It doesn’t help that most of Emerson’s giving has been anonymous, she says.

☆ ECB policymakers put 75 bps hike on table for October
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +3 min

FRANKFURT/HELSINKI, Sept 28 (Reuters) - The European Central Bank may need to raise interest rates by another 75 basis points at its October meeting and move again in December to a level that no longer stimulates the economy, policymakers said on Wednesday. Finnish central bank chief Olli Rehn, considered a moderate swing voter, also said that 75 basis points could be among the options. Outspoken policy hawk Robert Holzmann, Austria's central bank governor, also backed a 75 basis point move in an interview with Bloomberg TV, arguing that 100 basis points would simply be too much. ECB President Christine Lagarde said the "first destination" in the rate hiking cycle will be the "neutral" rate, which neither stimulates not slows growth. "In my view, we are heading towards the range of the neutral rate by Christmas," Rehn said.

☆ Commerzbank to take 490 mln euro Q3 hit due to mBank unit
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Sept 27 (Reuters) - Germany's Commerzbank (CBKG.DE) said on Tuesday it would take a 490 million euro ($471 million) hit to its third-quarter operating profit after its Polish mBank (MBK.WA) unit booked additional provisions for its Swiss franc loans. The German lender said it nevertheless still expected to reach its net profit target of more than 1 billion euros for the full year. Frankfurt-listed shares of Commerzbank, which is in the midst of a costly restructuring that involves cutting 10,000 jobs and closing branches, were down 5.5% after the news. Commerzbank had attempted to sell mBank but abandoned the effort after an auction petered out in 2020. ($1 = 1.0408 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Tom Sims and Sabine Wollrab Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ CIA warned Berlin about possible attacks on gas pipelines in summer - Spiegel
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Sept 27 (Reuters) - The U.S. Central Intelligence Agency (CIA) had weeks ago warned Germany about possible attacks on gas pipelines in the Baltic Sea, German magazine Spiegel said on Tuesday, after gas leaks in Russia pipelines to Germany were reported. The German government received the CIA tip in summer, Spiegel reported, citing unnamed sources, adding that Berlin assumes a targeted attack on Nord Stream 1 and 2 pipelines. A German government spokesperson declined to comment, Spiegel added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Riham Alkousaa; Editing by Tom SimsOur Standards: The Thomson Reuters Trust Principles.

☆ Euro sculpture in Frankfurt rescued by crypto firm
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

The Euro sign by German artist Ottmar Hoerl is photographed after "Caiz development" company announced its sponsorship for the conversation of the landmark in Frankfurt, Germany, September 27, 2022. REUTERS/Kai PfaffenbachRegister now for FREE unlimited access to Reuters.com RegisterFRANKFURT, Sept 27 (Reuters) - A giant blue euro sculpture in the heart of Frankfurt's financial district has a new benefactor: The firm behind a sharia-compliant cryptocurrency. Register now for FREE unlimited access to Reuters.com RegisterThe sponsor is the technology developer Caiz, a Frankfurt-based company whose Caizcoin conforms to the principles of Islamic finance and laws. The sculpture was constructed to much fanfare in 2001, shortly ahead of the launch of euro notes and coins. Register now for FREE unlimited access to Reuters.com RegisterReporting by Marta Orosz; Writing by Tom Sims; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Germany's Scholz sees progress on LNG and diesel projects in UAE
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterABU DHABI, Sept 25 (Reuters) - German Chancellor Olaf Scholz said on Sunday that he had seen progress in talks to buy liquefied natural gas (LNG) and diesel from the United Arab Emirates (UAE). Germany, until recently heavily dependent on Russia for gas, has been seeking to diversify its energy supply since Russia invaded Ukraine in February. Scholz, on a two-day trip to the Gulf region with executives from Germany industry, did not provide details on the talks with the UAE. On Saturday, Scholz held talks in Jeddah with Saudi Arabia's Crown Prince Mohammed bin Salman. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andreas Rinke; Writing by Tom Sims; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

☆ Germany's Scholz seeks to deepen energy partnership with Saudi Arabia
▼ + stars: | 2022-09-24 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterJEDDAH, Sept 24 (Reuters) - German Chancellor Olaf Scholz said on Saturday after a meeting with Saudi Arabia's Crown Prince Mohammed bin Salman that he wants to deepen the energy partnership between the two countries. Speaking to reporters, Scholz said that the partnership should go beyond fossil fuels to include hydrogen and renewable energies. Germany, until recently heavily dependent on Russia for gas, has been seeking to diversify its energy supply since Russia invaded Ukraine in February. Khashoggi's killing at the Saudi consulate in Istanbul four years ago triggered a global outcry and put pressure on Saudi Arabia's de facto ruler. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andreas Rinke, Writing by Tom Sims, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Annegret Hilse/File PhotoBERLIN, Sept 22 (Reuters) - The German government has opened discussions about providing urgent support for scores of regional state-owned energy providers which are struggling to cope with soaring gas prices, three sources familiar with the matter said. A spokesperson for Germany's economy ministry said it was in contact with the country's regional states concerning the municipal authorities, but declined to elaborate. There is a growing sense of urgency to provide support as energy bills for German households and industry become increasingly unaffordable. Liebing, who has previously warned about insolvencies in the sector, said the talks involved measures needed to shield municipal utilities from "acute" difficulties. "Should municipal authorities be at risk of collapse, many other services such as water, bin collection and public transport could fall apart," he said.

☆ Santander hires law firm to investigate bankers' strip club visit
▼ + stars: | 2022-09-19 | by ( Jesús Aguado | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterMADRID, Sept 20 (Reuters) - Spanish bank Santander (SAN.MC) hired a law firm to investigate a whistleblower report saying a group of bankers visited a strip club after a day of company meetings and pressured younger colleagues to join them, a source close to the matter said. Santander responded by hiring U.S. law firm Gibson Dunn to conduct an internal investigation over the summer, Reuters' source said. The law firm interviewed several people involved in the night out and concluded there had not been explicit pressure exerted on junior staff members, the source added. The Financial Times reported that no one has been dismissed as yet, but one manager has been disciplined. A Gibson Dunn representative was not immediately available for comment and the UK's Financial Conduct Authority said it is unable to comment on individual cases.

I used the 'rosebud' cheatcode to make my Sims wealthy without working, and I kept looking for the same cheatcode in real life. Now that I'm older, I realize building wealth isn't the same as the instant gratification of entering the 'rosebud' cheat. I romanticized the idea of cheating my way into wealthAside from basic financial management, I learned about the 'rosebud' cheatcode. Coupled with extra exclamation points and semicolons, the 'rosebud' cheatcode could put millions of simoleons (Sim dollars) into my Sims' bank accounts. I thought their families found the 'rosebud' cheatcode to wealth, and I was desperate to figure out how to do the same thing.

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