DIRS.INFO The most relevant business & tech news

☆ China's BYD launches AI-powered smart car technology to better compete with rivals
▼ + stars: | 2024-01-17 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

Visitors look at an BYD Seal U electric car of Chinese car brand BYD at the IAA Mobility 2023 international motor show on September 6, 2023 in Munich, Germany. BYD launched its AI-powered smart car system on Tuesday as the world's largest electric car maker seeks to better compete with rivals on advanced technologies such as automated parking. The Xuanji smart car system "perceives changes inside and outside the vehicle in milliseconds" thereby "enhancing driving safety and comfort," the firm said in a statement on Tuesday. The Chinese EV giant's Shenzhen-listed shares shed more than 2% on Wednesday in a broader decline in the China stock market. A price war and intensifying competition in the Chinese EV market have squeezed profitability for China's EV makers including BYD, Nio, Xpeng and Li Auto.

Persons: BYD, Wang Chuanfu, Tesla, Li Auto Organizations: Integrated Vehicle Intelligence, Weibo, EV giant's Shenzhen, EV, China's, Li Locations: Munich, Germany, U.S, China, Shenzhen

☆ Frankfurt Airport Cancels Half Its Flights Because of Snow and Ice
▼ + stars: | 2024-01-17 | by ( John Yoon | More About John Yoon | ) www.nytimes.com time to read: 1 min

Heavy snow and freezing rain grounded hundreds of flights in Germany on Wednesday, including at Frankfurt Airport, one of Europe’s busiest, where half of the scheduled flights were canceled. At Frankfurt Airport, about 500 of the 1,030 scheduled flights were canceled because of the weather on Wednesday, when 115,000 passengers had been expected, the airport said in a statement. The weather-related disruptions would continue on Thursday, the airport said, advising passengers to check their flight status before traveling to the airport. Munich Airport grounded about 150 flights on Wednesday, according to FlightAware, a flight tracking website. Saarbrücken Airport, a small international airport on the country’s western border, suspended operations entirely, its website said.

Organizations: Frankfurt Airport, Saarbrücken Locations: Germany

CNN —Arnold Schwarzenegger will face criminal tax proceedings after failing to declare an item upon arrival to Germany, a Munich Customs press officer told CNN Wednesday. And this process applies to everyone,” the press officer Thomas Meister said. The source said the item in question was a watch from Swiss luxury brand Audemars Piguet. Schwarzenegger was never asked to fill out a declaration form and he answered “every question from customs officers honestly,” the source said. When he returned, a new officer brought a new credit card machine that worked, the source added.

Persons: CNN — Arnold Schwarzenegger, “, ”, Thomas Meister, Meister, “ Arnold, Schwarzenegger Organizations: CNN, Munich Customs Locations: Germany, Munich, California, Kitzbuhel, Austria

☆ Zvi Zamir, Israeli Spy Chief in a Critical Period, Dies at 98
▼ + stars: | 2024-01-16 | by ( Richard Sandomir | More About Richard Sandomir | ) www.nytimes.com time to read: +1 min

His death was announced by the office of Prime Minister Benjamin Netanyahu. The announcement did not say where he died. “Zamir led a determined and initiative-taking approach in the State of Israel’s fight against Palestinian terrorism, which was strengthening at that time,” Mr. Netanyahu’s office said in a statement. Terrorism was an increasing concern for Israel when Mr. Zamir was named the Mossad’s director in 1968. No incident crystallized that threat more than the attack by the Palestinian terrorist group Black September on the Israeli delegation at its dormitory in the Olympic Village in Munich on Sept. 5, 1972.

Persons: Zvi Zamir, —, Benjamin Netanyahu, “ Zamir, ” Mr, Zamir Locations: Egypt, Syria, State, Israel’s, Israel, Munich

Now, many are warning that the far-right Alternative for Germany (AfD) party is capitalizing on the chaos for its own political gain. Sean Gallup/Getty ImagesA tractor displays a banner with the logo of the far-right Alternative for Germany (AfD) party that reads: "Germany needs new elections!" “Supporting democratic protests like this against traffic light madness will continue to be a concern of our hearts,” one post reads. The traffic light will soon be standing all alone.”The “traffic light” is a reference to Scholz’s coalition government – an allusion to the colors of the Social Democratic Party (SPD), the Free Democratic Party (FDP) and the Greens it is comprised of. Far-right coup fantasiesGerman ministers and a domestic intelligence chief have warned how right-wing extremists could try to exploit the farmers’ protests.

Persons: Chancellor Olaf Scholz’s, Kirill Kudryavtsev, Sean Gallup, Martin, ” Steven, Björn Höcke, Scholz, Johannes Kiess, ” Kiess, Jens Schlueter, Kiess, Robert Habeck, ” “, ” Habeck, Kay Nietfeld, Stephan Kramer, –, ” Kramer, ”, Nadine Schmidt, Claudia Otto, Sophie Tanno Organizations: Germany CNN — Farmers, Farmers, Getty, Social Democratic Party, SPD, Free Democratic Party, Greens, Germany’s Office, Homeland, Deutsche, University of Leipzig, CNN, “, Ukraine, Tractors, CDU, CSU, Christian Democratic Union, Christian Social Locations: Berlin, Germany, Frankfurt, AFP, Brandenburg, Hamburg, Cologne, Bremen, Nuremberg, Munich, Rügen, Pomerania, Thuringia, Berlin ., Dresden, Saxony, Deutsche Bahn, Cottbus, Torgau, London

☆ Ange Postecoglou: How Australian coach is transforming his club and winning the hearts of soccer fans
▼ + stars: | 2024-01-14 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +10 min

However, the top flight of English soccer had never seen an Australian manager in its 31-year history – that is until the arrival of Ange Postecoglou. Ian MacNicol/Getty ImagesThe Australian was greeted with a similar reception when he was hired by London club Tottenham in the summer of 2023. “He’s inspired Australian football and inspired Australian football coaches,” Dr. Craig Duncan, one of the nation’s leading sports scientists who worked with Postecoglou during his tenure with the Socceroos – the Australian national team – told CNN Sport. So much so that, according to Duncan, many Australian football fans he has spoken to will immediately check the score of Tottenham’s matches when they wake up. “This isn’t about us playing good football, it’s about us winning games of football,” Postecoglou told reporters after a recent 2-1 defeat by West Ham.

Persons: Ange Postecoglou, Postecoglou, Callum McGregor, Ian MacNicol, “ We’ve, “ He’s, ” Dr, Craig Duncan, –, Duncan, ” Postecoglou, “, Postecoglou’s, Craig Foster, Foster, unemployable ”, Ryan Pierse, Postecoglou's, ” Duncan, Spurs, Antonio Conte’s, you’re, ”, Anusak, “ Ricky Sacks, Sacks, Pedro Porro, Yves Bissouma, Pape Matar Sarr, ’, Mauricio Pochettino, Pochettino, José Mourinho, Nuno Espírito Santo, Conte, Harry Kane, Son Heung, he’s Organizations: CNN, Premier League, Spain’s Basque, Australian’s Premier League, Tottenham Hotspur, Scottish, Celtic, Glasgow, Scottish Premier League, London, Tottenham, Spurs, Socceroos –, Australian, CNN Sport, BBC Sport, Sky Sports, South Melbourne FC, FIFA, Australia, Panachaiki, Brisbane Roar, Roar, Melbourne Victory, Socceroos, Brisbane, Melbourne, Marinos, Tottenham Hotspur “, ” Spurs, ‘, Champions League, Bayern Munich, Spurs ’ Locations: Argentinians, Australia, Greece, Japan, Australian, Postecoglou, Athens, Victoria, Brazil, South Melbourne, Yokohama, Scotland, North London, West Ham, London

☆ Considering a move abroad in 2024? These are the best countries for expats
▼ + stars: | 2024-01-13 | by ( Blane Bachelor | ) edition.cnn.com time to read: +26 min

The survey, which has been running for a decade, reflects input from nearly 12,000 expats representing 177 nationalities in 181 countries or territories. John Coletti/The Image Bank Unreleased/Getty ImagesA longtime retirement destination for Americans, Mexico also has attracted more families and the digital nomad set over the past few years. Pros: Mexico ranked first in InterNations’ 2023 Expat Insider survey and has ranked among the top five countries since 2014. Cons: As is the case in Mexico and other countries with large expat communities, there’s growing backlash against the influx of foreigners, especially Americans, and especially in Lisbon. That popularity among auslanders has contributed to a housing pinch in major cities, especially Berlin, where finding accommodation is one of the most stressful aspects of a move.

Persons: It’s, Megan Frye, Frye, ”, “, We’ve, John Coletti, San Miguel de Allende, margarita, Sean Pavone, expats, Alex Ingrim, Chase, Ingrim, it’s, pollsters, they’re, it’s MVV, Arielle Tucker, that’s, auslanders, Andriy Kravchenko, “ Costa, ” David Lesperance, Costa Rica’s, “ Tico, Sebastien Lecocq, Lesperance, he’s, what’s, Emily, ” Tucker, Roth, Tucker, Carte Organizations: CNN, Invest Overseas, Braga, InterNations, Mexico, National Institute of Statistics, Human Rights Watch, Visa, USA, CNN Travel, ”, Spain, International, Travel Association, pollsters Gallup, Michelin, Changi, Cons, United, Costa Rica Costa, Central, Costa, Lesperance, Associates, Panama Panama, Miami of, Panama City, Panama Qualified Investment, Panama Golden Visa, France France Locations: Valencia, Spain, Portugal, Mazatlán, Mexico, United States, Mexico City, Michigan, Mexico Mexico, Plaza Carso, Polanco, North America, —, Oaxaca, San Miguel, Playa, Carmen, InterNations, Portugal Portugal, Porto, Douro, Europe, Lisbon, Western Europe, Madrid, Barcelona, Seville, Bilbao, Catalonia, Catalan, Netherlands, Amsterdam, Statista, Haarlem, Delft, Leiden, Maastricht, Washington, Miami , New York, San Francisco, Germany Germany, Munich, Germany, Berlin, Frankfurt, Stuttgart, Switzerland, Singapore Singapore, Singapore, Asia, Entre, Costa Rica, “, “ Costa Rica, Costa Rican, Panama City, Miami, Miami of Central America, Panama, North, South America, Italy, Venice, Italian, Paris, France, Lyon, Strasbourg

☆ John Kerry to step down as US climate envoy
▼ + stars: | 2024-01-13 | by ( Ella Nilsen | ) edition.cnn.com time to read: +2 min

CNN —US climate envoy John Kerry plans to step down from his post by this spring, a source close to Kerry confirmed to CNN. Kerry is leaving the position after three years at the helm of US climate diplomacy under the Biden administration. Kerry specifically prioritized restarting international climate talks between the US and China, and was key in negotiating the November Sunnylands agreement, a wide-ranging climate agreement between the two countries before COP28. And in 2019, Kerry co-founded a bipartisan initiative of world leaders and celebrities to combat the climate crisis called World War Zero. In 2009, when Biden became vice president, Kerry took over his role as chairman of the Senate Foreign Relations Committee.

Persons: John Kerry, Kerry, Biden, Axios, Joe Biden, Michael Dukakis, George W, Bush, Barack Obama Organizations: CNN, Economic, Munich, Conference, Democratic, Biden, White, Senate, Gov, Senate Foreign Relations, Navy, Silver Star, Star Locations: Dubai, Kerry, China, Paris, Massachusetts, Vietnam

☆ The world hasn't been this warm in 100,000 years
▼ + stars: | 2024-01-11 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

Data from ancient ice cores and tree rings suggest the world hasn't been this warm in 100,000 years. But climate scientists who track these trends were still shocked by how high temperatures soared. Europe's Copernicus Climate Change Service made the official call this week. Carlo Buontempo, the service's director, said evidence suggests the world hasn't been this warm in 100,000 years, meaning no cities, farms, or other parts of modern society have ever endured this heat. AdvertisementBut the Copernicus climate scientists said that these weren't the only factors and that some required more research.

Persons: Carlo Buontempo, Buontempo, Copernicus, El Niño, Niño, Samantha Burgess, Burgess Organizations: Service, UN Locations: Business, Munich, Tonga, Paris

☆ Record thunderstorm losses and deadly earthquakes cost $250 billion in damages in 2023, report says
▼ + stars: | 2024-01-09 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Destructive thunderstorms in North America and Europe and a series of devastating earthquakes last year cost the world around $250 billion in damages, according to a new report from the world's largest reinsurance company. In Europe, thunderstorm losses amounted to $10 billion, of which $8 billion was insured. It said such high thunderstorm losses were unprecedented for the U.S. and Europe. Munich Re said that while the economic and insured losses from 2023 may not appear extraordinary, it marks another year of "extremely high" damages even without any so-called mega-disasters in industrialized countries. In 2022, for example, Hurricane Ian was found to have resulted in overall economic losses of a whopping $100 billion and insured losses of $60 billion.

Persons: Hurricane Ian, Ernst Rauch, Rauch Organizations: Munich Re, U.S, CNBC, videoconference Locations: North America, Europe, Munich

☆ BYD beats Tesla for a second straight year after producing more than 3 million cars in 2023
▼ + stars: | 2024-01-02 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Arjun Kharpal | CNBCBEIJING — BYD produced more than 3 million new energy vehicles in 2023, surpassing Tesla 's production for a second straight year. Tesla said Tuesday it produced 1.84 million cars in 2023. While total production surpassed Tesla, BYD manufactured 1.6 million battery-only passenger cars and 1.4 million hybrids, putting Tesla on top for battery-only production. Stock Chart Icon Stock chart iconEven though it surpassed the 3 million mark, BYD's annual sales slightly missed CLSA's expectations for 3.05 million vehicles. BYD said it sold 3.02 million new energy vehicles in 2023.

Persons: BYD, Arjun Kharpal, Tesla, Elon, Aito, Geely, Zeekr, Nezha, Joel Ying, — CNBC's Michael Bloom Organizations: CNBC BEIJING, Elon Musk's, Monday, Overseas, CNBC, EV, China, EU Locations: Europe, Munich, Germany, China, Hong Kong, Hungary

Free ExpressionMany of them came in carbon-spewing private jets. Some were snowed in at the airport in Munich.

Locations: Munich

☆ WindCORES cuts emissions by putting data centers inside wind turbines
▼ + stars: | 2023-12-05 | by ( Arya Jyothi | ) edition.cnn.com time to read: +7 min

CNN —Accounting for up to 1.5% of global electricity use, data centers are fueling the climate crisis. WindCORES, a subsidiary of German renewable electricity company WestfalenWIND, operates data centers inside wind turbines located in a wind park in the Paderborn district in western Germany, which the company says makes the centers almost carbon neutral. The concept uses existing wind turbines to power data centers on site, while fiber optic cables provide a constant internet connection. WindCORES estimates that the unused electricity generated during this period could power one-third of all German data centers. Zattoo joined windCORES in 2020, when it moved one of its six data centers into a wind turbine in Paderborn.

Persons: ”, Fiete Dubberke, Dubberke, WestfalenWIND, windCORES, Zattoo, Viliyana Ivanova, “, Viliyana, windCORES Dubberke, Zattoo’s, Asim Hussain, that’s, they’ve, ” Hussain, ” WindCORES, Klee Organizations: CNN, windCORES, Green Software Foundation Locations: Paderborn, Germany, “, ”, Lichtenau, Munich

☆ Israeli Security Chief in Recording Vows to Hunt Down Hamas Abroad -Kan TV
▼ + stars: | 2023-12-03 | by ( Dec. | At P.M. | ) www.usnews.com time to read: +2 min

JERUSALEM (Reuters) - Israel will hunt down Hamas in Lebanon, Turkey and Qatar even if it takes years, the head of Israel's domestic security agency Shin Bet said in a recording aired by Israel's public broadcaster Kan on Sunday. It was unclear when Shin Bet chief Ronen Bar made the remarks or to whom. We will do this everywhere, in Gaza, in the West Bank, in Lebanon, in Turkey, in Qatar. More than 15,500 people have been killed so far during Israel's offensive in Gaza since, according to Gaza's health ministry. Other than in Gaza, Hamas leaders reside in or frequently visit Lebanon, Turkey and Qatar.

Persons: Shin Bet, Kan, Shin, Ronen Bar, Bar, Israel, Khaled Meshaal, Jordan, Benjamin Netanyahu, Maayan Lubell, Howard Goller Organizations: Israel's, West Bank, Olympic, Black, European Union Locations: JERUSALEM, Israel, Lebanon, Turkey, Qatar, Munich, Gaza, Palestinian, Australia, Canada, Japan, United States, Jordan

☆ Israeli security chief in recording vows to hunt down Hamas abroad
▼ + stars: | 2023-12-03 | by ( ) www.reuters.com time to read: +2 min

Israel Defense Forces/Handout via REUTERS Acquire Licensing RightsJERUSALEM, Dec 3 (Reuters) - Israel will hunt down Hamas in Lebanon, Turkey and Qatar even if it takes years, the head of Israel's domestic security agency Shin Bet said in a recording aired by Israel's public broadcaster Kan on Sunday. It was unclear when Shin Bet chief Ronen Bar made the remarks or to whom. We will do this everywhere, in Gaza, in the West Bank, in Lebanon, in Turkey, in Qatar. More than 15,500 people have been killed so far during Israel's offensive in Gaza since, according to Gaza's health ministry. Other than in Gaza, Hamas leaders reside in or frequently visit Lebanon, Turkey and Qatar.

Persons: Shin Bet, Kan, Shin, Ronen Bar, Bar, Israel, Khaled Meshaal, Jordan, Benjamin Netanyahu, Maayan Lubell, Howard Goller Organizations: Hamas, Israel Defense Forces, REUTERS Acquire, Rights, Israel's, West Bank, Olympic, Black, European Union, Thomson Locations: Gaza, Israel, Palestinian, Lebanon, Turkey, Qatar, Munich, Australia, Canada, Japan, United States, Jordan

☆ Munich flights, long-distance trains cancelled due to snow
▼ + stars: | 2023-12-02 | by ( ) www.reuters.com time to read: 1 min

Dec 2 (Reuters) - Long-distance trains and hundreds of flights in and out of the German city of Munich were cancelled on Saturday because of heavy snowfall, according to statements by Deutsche Bahn and Munich Airport. Flights were not scheduled to depart or arrive at Munich airport until at least 6 a.m. (0500 GMT) on Sunday according to a statement on its website. Trains could not arrive at Munich's central train station, Deutsche Bahn said on its website. The halt was expected to last all day, it added, advising travellers to rebook their trips. Reporting by Victoria Waldersee, Elke Ahlswede; Editing by Alison Williams and Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

Persons: Victoria Waldersee, Elke Ahlswede, Alison Williams, Toby Chopra Organizations: Deutsche Bahn, Munich, Thomson Locations: German, Munich, Munich's

☆ More than 700 flights cancelled as Munich sees heavy snowfall
▼ + stars: | 2023-12-02 | by ( Benjamin Brown | Sophie Tanno | ) edition.cnn.com time to read: +1 min

CNN —Around 760 flights were canceled at Munich Airport on Saturday due to heavy snowfall, an airport spokesperson told CNN. Buses, trams, and some train services in Munich were also suspended due to the snow, according to Munich’s public transport company. Munich’s central train station was closed for arrivals, while long-distance services have been suspended entirely, according to Germany’s national railway company Deutsche Bahn. Germany’s regional Süddeutsche Zeitung reported that huge numbers of travellers have been left stranded at Munich’s main station. Bavarian public broadcaster Bayerischer Rundfunk on Saturday reported that the 44 centimetres of snow in Munich was the most snowfall ever recorded in December in the Bavarian state capital since records began in 1933.

Persons: I’ve, “, there’s, Peter Kneffel Organizations: CNN, Munich Airport, Deutsche Bahn . Deutsche Bahn, Zeitung, Getty, Police, Saturday, Bayern Munich, Union Berlin, Bayerischer Rundfunk Locations: Munich, Bavaria, Union, Bavarian

[1/8] U.S. Vice President Kamala Harris disembarks an aircraft as she arrives to attend the United Nations Climate Change Conference (COP28) in Dubai, United Arab Emirates, December 2, 2023. The White House said Harris will carry a message about post-conflict Gaza as the region grapples with the fallout from a war that has upended the Middle East. Hamas seized control of Gaza in 2007 from Palestinian President Mahmoud Abbas' mainstream Fatah party and has ruled the enclave ever since. How post-conflict Gaza should realistically be managed is an issue that has confounded regional leaders and Middle East experts. "In her meetings, the vice president will outline our principles for post-conflict Gaza, lay out specific proposals that put Palestinian voices at the center, and build regional support for our efforts," the White House official said.

Persons: Kamala Harris disembarks, Amr Alfiky, Kamala Harris, Harris, Joe Biden, Mahmoud Abbas, Biden, Critics, Sheikh Mohamed bin Zayed Al Nahyan, we’ve, John Kirby, Nandita Bose, Steve Holland, Matt Spetalnick, Heather Timmons, Alistair Bell Organizations: U.S, United Nations, Change, United Arab Emirates, REUTERS, Rights, West Bank, White, Palestinian, Fatah, Middle, Authority, United, White House, House, Munich, Conference, Thomson Locations: Dubai, United Arab, Israel, Gaza, United Arab Emirates, Washington, Russia, Ukraine

REUTERS/Lisi Niesner/File Photo Acquire Licensing RightsLONDON, Dec 1 (Reuters) - Russian conductor Valery Gergiev, no longer welcome in Western concert halls since Russia's invasion of Ukraine, was named on Friday as director of Moscow's Bolshoi Theatre. After performing for decades on the world's biggest classical stages, Gergiev has been shunned in the West since the start of the war in February 2022. The following month he was fired as chief conductor of the Munich Philharmonic Orchestra after the city's mayor said Gergiev had declined to "clearly and unambiguously" distance himself from the invasion. Gergiev, also a former principal conductor of the London Symphony Orchestra, has long been controversial outside Russia because of his support for President Vladimir Putin. He spoke out in favour of Russia's invasion of Crimea in 2014.

Persons: Valery Gergiev, Lisi Niesner, Gergiev, Vladimir Urin, Urin, Vladimir Putin, Putin, we're, we've, Mark Trevelyan, Kevin Liffey Organizations: Vienna Philharmonic Orchestra, REUTERS, Moscow's Bolshoi Theatre, Mariinsky Theatre, Munich, Orchestra, Bolshoi, London Symphony Orchestra, Islamic, Thomson Locations: Russian, Vienna, Austria, Ukraine, St Petersburg, West, Russia, Crimea, Palmyra, Syria, Islamic State, China

☆ Benko's complex web at Signa - from Chrysler building to Berlin landmark
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +6 min

SIGNA PRIME/PROPERTY PORTFOLIOAccording to Signa, Prime is the group's largest company in its real estate division, valued at around 20.4 billion euros ($22.23 billion). Since 2019 Signa Holding has also been a co-owner of New York's iconic Chrysler Building. TRADING/RETAIL COMPANIESBenko has bundled his trading interests under the divisions Signa Retail and Signa Premium. In Switzerland, Benko's trading investments are bundled into Signa Retail Selection AG, which filed for bankruptcy protection on Wednesday. In 2018, Signa Holding bought around 24% stake in Austrian daily newspapers "Krone" and "Kurier" from Funke media group.

Persons: Lisi Niesner, Rene Benko, Ernst Tanner, Hans Peter Haselsteiner, Torsten Toeller, Arthur Eugster, SIGNA, Signa, Otto Wagner, Benko's, Klaus, Michael Kuehne, Kuehne, Hamburg's, Chirathivat, Benko, Frasers, Kaufhof, Karstadt, Galeria, Alexandra Schwarz, Goerlich, Mattias Inverardi, Victoria Farr, Emma, Rachel More, Elisa Martinuzzi, Tomasz Janowski Organizations: Signa, REUTERS, Chrysler, Bank Austria, Femina, Chrysler Building, . Central Group, Globus, Selfridges, Central Group, Funke, Thomson Locations: Berlin, Germany, New, Britain's Selfridges, Innsbruck, Swiss, Vienna, Hamburg, KaDeWe, Oberpollinger, Munich, Vienna's, Tyrol, Essen, Duesseldorf, London, Switzerland

☆ Lawyer of fugitive Wirecard executive called to testify in court
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Michael Dalder/File Photo Acquire Licensing RightsBERLIN, Dec 1 (Reuters) - A German court has called upon the lawyer of former Wirecard board member Jan Marsalek, who has been on the run since the implosion of the German payments company, to testify next Wednesday in Germany's biggest post-war fraud trial. Wirecard became the first-ever DAX member to file for insolvency in 2020, owing creditors almost $4 billion, after disclosing a 1.9 billion euro ($2.13 billion) hole in its accounts. Marsalek, Wirecard's former chief operating officer, is considered a key figure in the Wirecard scandal and an international fugitive on Europe's most-wanted list. In July he had contacted the Munich court through his lawyer - although neither the lawyer nor authorities disclosed the content of this written communication. A court spokesperson said on Friday that lawyer would now be questioned as a witness in the case.

Persons: Michael Dalder, Jan Marsalek, Wirecard, DAX, EY, Joern Poltz, Sarah Marsh, Leslie Adler Organizations: Wirecard AG, REUTERS, Rights, Thomson Locations: Aschheim, Munich, Germany, Marsalek

☆ Senate committee investigating Florida’s state-backed home insurance company as private insurers flee
▼ + stars: | 2023-11-30 | by ( Ella Nilsen | ) edition.cnn.com time to read: +6 min

CNN —The US Senate Budget Committee is launching an investigation into whether Florida’s state-backed home and property insurance company has enough money in the bank to withstand future disasters, as scientists warn warming oceans and sea level rise are making storms more destructive. Citizens Property Insurance Corporation exists as a so-called insurer of last resort - if owners cannot convince a private insurance company to cover their property, Citizens will step in. If that were to happen, the Senate Budget Committee is worried Florida might turn to the federal government looking for a bailout, Whitehouse said. State insurers of last resort were originally intended as a stopgap for consumers, ensuring their coverage wouldn’t be interrupted. Florida isn’t alone; some major private insurers have either pulled out or stopped writing new policies in wildfire-prone California.

Persons: Ron DeSantis, “, Sen, Sheldon Whitehouse, ” Whitehouse, Michael Peltier, Whitehouse, ”, Benjamin Keys, ” Keys, ’, Keys, “ It’s Organizations: CNN, Citizens Property Insurance Corporation, Republican Gov, Citizens, Democrat, ”, Munich Re, Swiss, Wharton School, University of Pennsylvania, Senate, FAIR, Florida’s Citizens, Budget Locations: After Florida, Rhode Island, Florida, Miami, Tampa, “ Florida, Munich, riskiest, California

☆ An arguing couple forced a Lufthansa A380 to divert after the husband reportedly threw food and tried to set fire to a blanket
▼ + stars: | 2023-11-30 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

An arguing couple forced a Lufthansa A380 to be diverted to Delhi, per The Times of India. The husband shouted at his wife, threw food, and tried to set a blanket on fire with a lighter, the paper reported. Lufthansa confirmed an incident involving an "unruly passenger" on the flight to Business Insider. AdvertisementA Lufthansa flight was forced to divert on Wednesday after a severe argument between a husband and wife, The Times of India reported. It prompted pilots to tell air traffic control at Indira Gandhi International Airport in Delhi, India about a "situation and possible unruly passenger," per The Times of India.

Persons: — Organizations: Lufthansa, Business, Service, Airbus, Indira Gandhi International, Indian Express, Delhi Police Locations: Delhi, India, Times, Munich, Germany, Bangkok, Thailand, Thai, Flightradar24

☆ UK's Frasers plans to buy SportScheck assets out of administration
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

'SportScheck' store is seen closed due to the coronavirus disease (COVID-19) pandemic in Munich, Germany, February 5, 2021. REUTERS/Michaela Rehle/File Photo Acquire Licensing RightsNov 30 (Reuters) - British sports and fashion group Frasers (FRAS.L) said on Thursday it will seek to buy SportScheck's business and assets out of administration after the German sporting goods retailer filed for insolvency. Signa on Wednesday filed for self-administered reorganisation proceedings, and media reports followed on Thursday that SportScheck would also file for insolvency. Frasers confirmed SportScheck's administration in its statement and said it exercised its rights under its agreement with Signa to withdraw from the deal. However, the London-listed group said it intends to work with SportScheck's appointed administrator to purchase its business and assets.

Persons: Michaela Rehle, Frasers, Signa, SportScheck, SportScheck's, Sri Hari, Krishna Chandra Organizations: REUTERS, SportScheck, Retail, Sports, Sri, Thomson Locations: Munich, Germany, London, SportScheck, Bengaluru

☆ Manchester United on the brink of an early Champions League exit after chaotic draw against Galatasaray
▼ + stars: | 2023-11-30 | by ( Matias Grez | ) edition.cnn.com time to read: +3 min

CNN —Manchester United is on the brink of an early Champions League exit after twice throwing away a two-goal lead in a chaotic 3-3 draw with Galatasaray. In the Champions League, you get punished for your mistakes, so we have to learn from that.” Manchester United manager Erik ten Hag to TNT Sports after his team's 3-3 draw to Galatasaray on November 29. United has now conceded 14 goals in just five Champions League group matches, the most by an English club after five games in the competition’s history, according to Opta. Bayern had already qualified for the knockout stages ahead of the team’s 0-0 draw with Copenhagen on Tuesday. The team’s only chance of reaching the Champions League knockout stages is to beat Bayern Munich at Old Trafford in the final group game and hope that Copenhagen and Galatasaray draw.

Persons: Erik, Alejandro Garnacho, Captain Bruno Fernandes, Hakim Ziyech’s, Andre Onana, Scott McTominay, Muhammed Kerem Aktürkoğlu, Hag, Garnacho, Yasin Akgul, –, Erik ten Hag, Murad Sezer Organizations: CNN, Manchester United, League, Galatasaray, Cameroon, Getty, TNT Sports, Champions League, Bayern, Copenhagen, Premier League, Manchester City, Reuters, Newcastle, FA, Red Devils, Bayern Munich Locations: AFP, Copenhagen, England, Europe, Old Trafford

Search resuls for: "MUNICH"

25 mentions found