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VIENNA, March 30 (Reuters) - Raiffeisen Bank International (RBI) (RBIV.VI) took aim on Thursday at "morally arrogant" critics of its dealings in Russia, although said it was considering spinning off its business there anyway amid mounting pressure. Chairman Erwin Hameseder accused critics of "black and white moral thinking" from a "risk free zone of comfort", and said most Western businesses had not left Russia. However, CEO Johann Strobl told the meeting the bank would pursue a possible sale or spin-off of its Russian business. Earlier this month, people familiar with the matter told Reuters the European Central Bank was pressing RBI to unwind its highly profitable business in Russia. The pressure comes after a top U.S. sanctions official raised concerns about RBI's business in Russia on a visit to Vienna last month, another person said.

☆ German consumer morale slows down on path to recovery - GfK
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

"The anticipated loss of purchasing power is preventing a sustained recovery of domestic demand," said GfK consumer expert Rolf Buerkl, which means private consumption is not likely to contribute to the German economy in a positive way this year. The consumer climate indicator forecasts the development of real private consumption in the following month. An indicator reading above zero signals year-on-year growth in private consumption. According to GfK, a one-point change in the indicator corresponds to a year-on-year change of 0.1% in private consumption. The income expectations sub-index reflects expectations about the development of household finances in the coming 12 months.

☆ German regulator launches antitrust proceedings against Microsoft
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: 1 min

BERLIN, March 28 (Reuters) - Germany's antitrust regulator said on Tuesday it had launched proceedings against Microsoft (MSFT.O) to examine whether the U.S. tech giant is "of paramount significance for competition across markets". Andreas Mundt, head of the Bundeskartellamt regulator, said there were "good reasons" to examine whether this might be the case with Microsoft. "Such a finding would allow us to take action at an early stage and prohibit possible anti-competitive practices," he said in a statement. Writing by Rachel More Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ The era of generic email blasts is over. Here's why customers expect personalized messaging and how to meet that expectation.
▼ + stars: | 2023-03-27 | by ( Sponsor Post | Created Insider Studios With Mailchimp | ) www.businessinsider.com time to read: +6 min

71% of shoppers expect personalized marketing from brands, and 76% are frustrated if this expectation is not met. Success stories from Pack Up + Go, Dirty Girl Produce, and Honeywell Biscuit Co. demonstrate the benefits of personalized marketing. The email marketing company Mailchimp, for example, offers businesses the ability to target their audience, personalize their message, and deliver emails at the optimal time. One company that excels at this is Pack Up + Go, an online travel company that organizes surprise vacations in the US. To re-engage old customers at the end of August, Dirty Girl Produce used Mailchimp's Customer Journey Builder to automatically email customers who hadn't made a purchase in the past 60 days with a discount.

Two of Germany's largest airports, Munich and Frankfurt, suspended flights, while long-distance rail services were cancelled by rail operator Deutsche Bahn (DBN.UL). "Millions of passengers who depend on buses and trains are suffering from this excessive, exaggerated strike," a Deutsche Bahn spokesperson said on Monday. At the same time, in France they go on strike all the time about something," said passenger Lars Boehm. The head of the Bundesbank Joachim Nagel said last week Germany needed to avoid a price-wage spiral. "Despite signs of second-round effects, we have not observed a destabilising price-wage spiral in Germany so far."

☆ German business sentiment unexpectedly rises in March
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

BERLIN, March 27 (Reuters) - German business morale unexpectedly rose in March, adding to signs that Europe's largest economy is stabilizing despite recent turmoil in the banking sector, a survey showed on Monday. The Ifo institute said its business climate index jumped to 93.3 from a reading of 91.1 in February. The increase in business morale for the fifth month in a row was driven primarily by business expectations, Ifo said. The expectations index rose to 91.2 in March from a revised 88.4 the month before, its highest level in at least a year. Reporting by Miranda Murray, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

BERLIN, March 24 (Reuters) - Germany's transport minister on Friday said he was optimistic a dispute between Berlin and Brussels over the future of combustion engine cars running on e-fuels was close to resolution, though some questions still needed clarifying. The original law would effectively ban registration of combustion engine cars after 2035, but Germany seeks an exemption for cars that run exclusively on climate-neutral e-fuel and legal assurances from the Commission. In a letter to the Commission seen by Reuters on Friday, Germany's transport ministry welcomed the EU executive's proposals but asked for legislation to ensure its implementation. Berlin's demand for an exemption had "now been answered by the EU Commission with a letter that makes me optimistic," German Transport Minister Volker Wissing told a news conference on Friday. The European Commission declined to comment on the latest proposals.

☆ German 'wise ones' see inflation uptick if banking woes halt rate rises
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

[1/2] Members of the German economic expert council attend a news conference to present the economic prognosis 2022/23, in Berlin, Germany March 22, 2023. "The recent increase in financial market risks has made it more difficult for central banks to fight inflation," the five "wise ones" who advise Berlin on economic policy said in their biannual report. "If the monetary policy response is too weak due to these trade-offs, inflation could remain high for longer than expected or even pick up again," they added. Turmoil in the banking sector culminated in the Swiss regulator-backed takeover of Credit Suisse by rival UBS at the weekend. Inflation will come in at 6.6% in 2023 and 3.0% in 2024, the council predicted.

☆ German green group sues Meta alleging failure to curb threats
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

March 22 (Reuters) - A prominent German environmental group said on Wednesday it is suing Facebook's parent company Meta (META.O), accusing the social media firm of failing to clamp down on insults and threats of violence and murder. Environmental Action Germany (DUH) said in a statement that Meta had failed to shut down Facebook groups in which threats of violence were regularly posted and sometimes remained visible for weeks without being taken down. "We no longer accept the persecution and threats in such social media groups," said DUH chief Juergen Resch. A German court last year ruled against a law obliging social media firms to block or delete criminal content and report serious offences to the police, handing a partial victory to complainants Google (GOOGL.O) and Meta. Reporting by Matthias Williams Editing by Miranda Murray, William MacleanOur Standards: The Thomson Reuters Trust Principles.

☆ Police officer shot during raids in German Reichsbuerger probe
▼ + stars: | 2023-03-22 | by ( Madeline Chambers | ) www.reuters.com time to read: +3 min

The searches follow raids in December, when German police foiled a plot by members of the Reichsbuerger movement to stage a violent coup and install aristocrat Heinrich XIII Prinz Reuss as national leader. One SEK officer was slightly injured and a suspect Reichsbuerger was arrested in Reutlingen during nation-wide raids in the extreme far-right movement. REUTERS/Markus Ulmer 1 2 3 4 5Germany's domestic intelligence service Verfassungsschutz put the Reichsbuerger movement under observation in 2016. The measure is related to the Reichsbuerger scene. "In an exchange of fire, a police officer was shot in the arm," prosecutors said in a statement.

☆ Iran violations may amount to crimes against humanity, UN expert says
▼ + stars: | 2023-03-20 | by ( Emma Farge | ) www.reuters.com time to read: +3 min

Iran has been swept by protests since the death of a young Iranian Kurdish woman, Mahsa Amini, in custody last September. Addressing the Geneva-based council, Javaid Rehman, Special Rapporteur on Iran, said he had evidence that Amini died "as a result of beatings by the state morality police". Rehman, an independent expert, added that the scale and gravity of crimes committed by authorities as part of the repression following her death "points to the possible commission of international crimes, notably the crimes against humanity". People hold flags during a demonstration against the Republic of Iran in the Place des Nations during the Human Rights Council at the United Nations in Geneva, Switzerland, February 27, 2023. Evidence assembled by other investigations set up by the U.N. rights council has sometimes been used before international courts.

☆ Deutsche Bank CEO paid 8.9 million euros in 2022
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

ZURICH, March 17 (Reuters) - Deutsche Bank (DBKGn.DE) paid Chief Executive Christian Sewing 8.9 million euros ($9.49 million) in 2022, up slightly from 8.8 million euros a year earlier, the bank disclosed on Friday, rewarding him for a third consecutive year of profit and hitting key milestones in the lender's restructuring. The bonus pool for the entire bank was 2.1 billion euros, basically flat from a year earlier. Sewing led the bank through a 9-billion-euro, four-year turnaround plan for what is one of the world's most systemically important banks after years of losses. For 2023, the bank forecast a slight increase in revenues to between 28 billion euros and 29 billion euros, according to its annual report on Friday. At the investment bank, revenues will be flat, it forecast.

☆ Flights cancelled in fresh round of strikes at German airports
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

[1/5] Workers strike, after German trade union Verdi called on workers at Frankfurt, Munich, Stuttgart, Hamburg, Dortmund, Hanover and Bremen airports to go on a 24-hour strike, in Frankfurt, Germany February 17, 2023. REUTERS/Heiko BeckerBERLIN, March 17 (Reuters) - Strikes at four German airports led to the cancellation of hundreds of flights on Friday in the latest bout of industrial action to disrupt travel plans in recent months. German union Verdi called on security and ground handling staff at airports in Duesseldorf, Cologne/Bonn, Stuttgart and Baden-Baden to strike over pay and working conditions. Cologne/Bonn Airport said that 144 flights were cancelled as a result, while Duesseldorf Airport said earlier in the week it was working on a "significantly reduced flight schedule". "No take-offs and landings are possible all day due to the Verdi strike," Stuttgart Airport said in a statement, calling on passengers not to travel to the airport.

☆ Huawei ban would have significant impact on German mobile network -ministry
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

BERLIN, March 17 (Reuters) - A ban on certain components by Chinese companies Huawei (HWT.UL) and ZTE (000063.SZ) could have a significant impact on Germany's mobile network if they have to be replaced on a larger scale, according to a German economy ministry letter seen by Reuters. The German government is currently carrying out a review of telecom tech suppliers which it says is not directed at specific manufacturers. The precise impact on mobile operators and other economic players is not possible to assess, the ministry added, as it depends on individual decisions as well as transition periods. Critics of Huawei and ZTE say that their close links to Beijing's security services mean that embedding them in mobile networks could give Chinese spies and even saboteurs access to essential infrastructure. Huawei, ZTE and China's government reject such claims, saying they are motivated by a protectionist desire to support non-Chinese rivals.

☆ I have a 6-figure side hustle as a user-generated-content creator. It only takes a few hours a week — here's how I scaled it.
▼ + stars: | 2023-03-17 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +8 min

I'm a creative director with a part-time gig as a user-generated-content, or UGC, creator. Between then and May 2016, I worked part time, lived at home, and built my UGC portfolio. I make my UGC ads feel naturalAlthough my UGC concepts are launched as ads, I make them feel like your friend posted it. As a UGC creator, you have to be aware of the latest social trends and nuances in marketing. What you choose to do after these gut punches is what separates the UGC creator who gave up after two weeks from the creator who makes four or five figures a month.

☆ German minister to visit Taiwan in test of China relations
▼ + stars: | 2023-03-17 | by ( Andreas Rinke | ) www.reuters.com time to read: +3 min

China views democratically-governed Taiwan as its own territory and has increased military, political and economic pressure to assert those claims. The politically sensitive visit will take place at a time when Berlin is reviewing its previously close ties with China. Bettina Stark-Watzinger, also of the FDP, will begin her visit early next week, a ministry spokesperson said. Speaking at a regular news conference in Berlin, the education ministry spokesperson said the agenda during Stark-Watzinger's visit will also include battery research and supply chains. Last year, China condemned a visit to Taiwan by then-U.S. House of Representatives Speaker Nancy Pelosi, the highest-level U.S. visit in 25 years, as a threat to peace and stability in the Taiwan Strait.

Speaking alongside Netanyahu after talks in Berlin, Scholz said he hoped that a compromise on the reforms suggested by Israel's President Isaac Herzog was not off the table. Netanyahu visited Germany while protests erupted once again in Israel over the reforms by his far-right government that have triggered mass unrest in recent weeks. Netanyahu called criticism of the plans "absurd", assuring Scholz that "Israel will remain a liberal democracy". Netanyahu wanted the meeting with Scholz to focus on efforts to prevent Iran from obtaining nuclear weapons. Netanyahu, who is on trial for corruption charges that he denies, says the judicial changes will strengthen democracy and boost business.

☆ BMW: e-fuels have highest impact for current fleet, not new cars
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

BERLIN, March 15 (Reuters) - BMW (BMWG.DE) Chief Executive Oliver Zipse said he viewed e-fuels as having the biggest impact for decarbonising transport if used in existing car fleets, rather than in new cars as was being discussed in Europe. "The main impact of e-fuels is on existing fleets, not in the regulation of new vehicles being hotly discussed in Europe," Zipse said. The only opportunity to make a difference there is e-fuels. I agree strongly with the colleagues proposing that, particularly because our motors are prepared for it," he added. Oliver Blume, chief executive of Porsche (P911_p.DE) and Volkswagen, (VOWG_p.DE), lobbied strongly in the annual press conferences of both companies earlier this week for being open to using e-fuels, calling on politicians to incentivise their production.

☆ Scholz plays down threat of SVB meltdown to Germany
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

BERLIN, March 14 (Reuters) - Chancellor Olaf Scholz on Tuesday said Germans should not have major concerns about the fallout of Silicon Valley Bank's (SIVBV.UL) collapse and that regulators had learned lessons from the global financial crisis in 2008. "We have made significant progress since the situation of the 2008/09 financial crisis," Scholz said, seeing better public oversight of the banking system. "That's the best thing you can do to ensure the safety of systems," emphasized Scholz. "In this respect, there's really no reason for anyone here in Germany to have major worries." Reporting by Matthias Williams and Andreas Rinke Editing by Madeline Chambers and Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ No all-clear yet for European banks after SVB collapse - German economist
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

BERLIN, March 14 (Reuters) - European banks are not completely in the clear after the collapse of Silicon Valley Bank (SIVBV.UL) and Signature Bank (SBNY.O) even though they do not face a systemic risk, the president of German economic research group DIW said on Tuesday. But he said many European banks were also facing this issue. "We have to be very careful," Fratzscher said, adding that German banks haven't fully recovered from the 2008 financial crisis initiated by the fall of Lehman Brothers, which had "systemic meaning" and caused a domino effect. "We don't see that in the case of SVB, which is relatively small," he said. Reporting by Maria Martinez; Editing by Miranda Murray and Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Volkswagen: we are covered by our three gigafactories in Europe until 2028
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

WOLFSBURG, March 13 (Reuters) - Volkswagen's (VOWG_p.DE) battery needs are covered until 2028 by its three confirmed factories in Europe - the Salzgitter plant in Germany, Northvolt's plant in Sweden and a planned plant in Valencia, board member Thomas Schmall said on Monday. "With these three plants we are covered until 2028," Schmall said at a press event at the Salzgitter plant, inaugurated last July. The Valencia plant, confirmed last year, is due to begin production in 2026. Volkswagen said last week it was waiting to hear what Europe's response to the U.S. Inflation Reduction Act will be before progressing with plans to build further battery plants in the region. The carmaker was standardising the structure of its factories to make production more efficient, Schmall said, describing the process of building new plants as "copy-paste".

☆ Germany imposes moratorium on German SVB branch
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, March 13 (Reuters) - Germany's financial regulator BaFin on Monday said it was imposing a moratorium on the German branch of Silicon Valley Bank in the wake of its demise and noted the branch has "no systemic relevance". The bank opened a small branch in 2018 after it won a license to lend. SVB's Frankfurt branch had assets of 789 million euros ($841.86 million) at the end of last year, according to BaFin. Officials at SVB in Frankfurt have not responded to requests for comment. ($1 = 0.9372 euros)Reporting by Tom Sims and Marta Orosz Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ Russia suggests renewing Black Sea grain deal for shorter term
▼ + stars: | 2023-03-13 | by ( Gabrielle Tétrault-Farber | ) www.reuters.com time to read: +3 min

The Black Sea grain initiative, brokered between Russia and Ukraine by the United Nations and Turkey last July, aimed to prevent a global food crisis by allowing Ukrainian grain blockaded by Russia's invasion to be safely exported from three Ukrainian ports. Russia, he said, "does not object to another extension of the 'Black Sea Initiative' after its second term expiration on March 18, but only for 60 days." 'CRITICAL MOMENT'The United Nations said it noted the Russian position and that it remained "fully committed to the Black Sea Grain Initiative, as well as to efforts to facilitate the export of Russian food and fertilizer." "The UN Secretary-General has confirmed that the UN will do everything possible to preserve the integrity of the Black Sea Grain Initiative and ensure its continuity," it said in a statement. "To extend it for 60 days, you have to amend the deal."

☆ Talks underway on Black Sea grain deal extension in Geneva
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

GENEVA, March 13 (Reuters) - Negotiations began on Monday between U.N. officials and Russian Deputy Foreign Minister Sergei Vershinin on a possible extension to a deal allowing the safe export of grain from Ukraine's Black Sea ports, the Russian diplomatic mission in Geneva said. The deal, which was extended for 120 days in November, is up for renewal on March 18. Two sources involved with the talks said they were initially scheduled to last just one day but could be extended as needed. "Wheat and corn markets are weaker today as the talks start about extending the safe shipping agreement for Ukraine’s exports," said Matt Ammermann, StoneX commodity risk manager. "As such a large wheat and corn exporter, Ukraine’s supplies are vital to world markets."

See Insider's picks for the best mortgage lenders »Insider's Featured Mortgage Lenders Rocket Mortgage by Quicken LoansAmeriSave Mortgage Corporation MortgagesNew American Funding Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Only a handful of US states require financial education in high schools, and those requirements are thin. The Consumer Financial Protection Bureau has free, easy-to-navigate content about tons of financial products, including mortgages. The Consumer Financial Protection Bureau has free, easy-to-navigate content about tons of financial products, including mortgages. There's a dearth of consumer education built into our financial systems (likely by design).

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