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☆ BNP Paribas Frankfurt office searched in cum-ex probe
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Jan 25 (Reuters) - BNP Paribas said on Wednesday that prosecutors were searching its Frankfurt premises as part of an long-running investigation into a multibillion-euro tax fraud scheme known as "cum-ex" and that it was cooperating fully. German prosecutors said they have been conducting a search at a banking institution in Frankfurt since Tuesday in relation to cum-ex, without naming the bank. Around 130 police officers, public prosecutors and tax investigators are involved, they said. The scandal has blighted German political and financial circles, with lawmakers claiming it has cost taxpayers billions of euros. Government officials say the investigation involves some 100 banks on four continents and at least 1,000 suspects.

☆ Two killed in knife attack on German train - authorities
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +1 min

[1/5] Forensic experts stand next to a train on which an incident involving a knife attack took place, at a railway station in Brokstedt, Germany, January 25, 2023. REUTERS/Fabian BimmerBERLIN, Jan 25 (Reuters) - Two people were killed and several others injured in a knife attack on Wednesday on a regional train travelling between Kiel and Hamburg in northern Germany, authorities said. Earlier, the Bild newspaper had said five people were injured in the attack. Police were investigating at the train station in Brokstedt, the German railway Deutsche Bahn said on Twitter, adding some services between the two cities had been cancelled. "Federal and state police are working closely together on investigating this case," state interior minister Sabine Suettelin-Waack said in a statement.

☆ German business morale brightens further in January - Ifo
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kai Pfaffenbach/File PhotoBERLIN, Jan 25 (Reuters) - German business morale brightened in January as Europe's largest economy started the new year with easing inflation and an improved outlook, a survey said on Wednesday. The Ifo institute said its business climate index rose to 90.2, in line with consensus according to a Reuters poll of analysts and up from a reading of 88.6 in December. "The German economy is starting the new year with more confidence," Ifo's president Clemens Fuest said. The increase is driven by considerably less pessimistic expectations, while companies were, however, somewhat less satisfied with their current situation, Ifo said. "The Ifo business climate has recovered significantly for the third time in a row as the easing on the gas market further diminished companies' fears of a severe recession," Commerzbank's chief economist Joerg Kraemer said.

[1/3] Mexico City's Mayor Claudia Sheinbaum speaks near Mexico's President Andres Manuel Lopez Obrador (not pictured) during a news conference at the Old City Hall (Antiguo Palacio del Ayuntamiento), in Mexico City, Mexico January 20, 2023. "If accidents continue, like a cable or the signal system breaks, the National Guard is not going to detect that or make a difference," Miranda said. A school collapse that killed 19 children in a 2017 earthquake happened on her watch as a district mayor of Mexico City. She filed a criminal complaint accusing two prior attorneys for the district of failing to enforce the law after discovering illegal construction, and became Mexico City Mayor in 2018. Now, Lopez Obrador has backed her decision to use the National Guard, in a clear sign of support for her.

☆ Crime, inflation hammer support for Chile's Boric in tough first year
▼ + stars: | 2023-01-23 | by ( Natalia A. Ramos Miranda | ) www.reuters.com time to read: +4 min

"I wanted to give a chance to a young person, without the problems of the older politicians," she said. Recent pardons of 12 protesters convicted for crimes such as looting and robbery during 2019 riots went down badly amid rising crime statistics. The president's spokespeople did not respond to a request for comment, but Boric has repeatedly acknowledged that his administration has made mistakes. During a news conference announcing the justice minister's resignation, Boric said the government was determined to "strengthen political management." "Sometimes it seems that he is ruling just so that the right does not get angry," said 46-year-old designer and Boric voter Gaston Gomez.

☆ Germany names new defence minister, faces pressure to send tanks to Ukraine
▼ + stars: | 2023-01-17 | by ( Holger Hansen | ) www.reuters.com time to read: +4 min

Following several missteps, Christine Lambrecht resigned as defence minister on Monday, ahead of a conference on Friday at the U.S. military base in Ramstein on Western plans to provide Kyiv with more arms. Other countries with such tanks also need Berlin's approval before they can be passed on to another country. The new defence minister is expected to host his U.S. counterpart, Lloyd Austin, in Berlin on Thursday. "I want to make the armed forces strong for the time ahead," he said. Scholz has signalled a policy shift by promising to boost defence spending to more than 2% of its economic output.

☆ 18 movies with valuable entrepreneurial lessons: From 'Startup.com' to 'Becoming Warren Buffett'
▼ + stars: | 2023-01-17 | by ( Vikas Jha | ) www.businessinsider.com time to read: +21 min

Takeaway: This movie shows the effect money, greed and power can have on relationships. "The Social Network" (2010)"The Social Network" shows us that business success requires more than just a great idea. "Becoming Warren Buffett" (2017)In this documentary, Warren Buffett reveals his day-to-day, and his two most important investing rules. Takeaway: This movie shows how two young men were pitted against each other, striving to grow in a cut-throat business. I've found myself feeling motivated after watching a great film with lessons I can transpose to my entrepreneurial journey.

☆ Boris Pistorius to take over as next German defence minister - sources
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 17 (Reuters) - Social Democrat (SPD) interior minister of the state of Lower Saxony Boris Pistorius is to serve as Germany's next defence minister, two sources told Reuters on Tuesday, at a time when Berlin is under pressure to boost military support for Ukraine. Christine Lambrecht resigned as defence minister on Monday as allies increase calls to send Ukraine heavy tanks, at the start of what is likely to be a pivotal week for Western plans to further arm Kyiv. Pistorius has been interior minister in Lower Saxony since 2013 and has long been seen as a candidate to assume a national position. He ran for the leadership of the Social Democrat party in 2019. Reporting by Holger Hansen Writing by Madeline Chambers Editing by Miranda Murray, Kirsti KnolleOur Standards: The Thomson Reuters Trust Principles.

☆ German economy minister: recession threatening Europe manageable
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Jan 17 (Reuters) - Germany's economy minister said that easing gas prices give hope that a recession threatening Europe, and Germany, can be managed and even reduced, and underscored the need to establish more critical infrastructure to create a more resilient economy. "It was Europe that paid the price for German dependency on Russian gas and therefore an obligation arises that Germany has to contribute to Europe's growth," he said at a panel at the World Economic Forum in Davos, Switzerland, on Tuesday. Reporting by Miranda Murray and Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

BERLIN/FRANKFURT, Jan 17 (Reuters) - United Internet (UTDI.DE) subsidiary Ionos said on Tuesday it would undertake a prime standard listing of its shares this quarter on the Frankfurt Stock Exchange, as the web hosting company readies for an initial public offering (IPO). The offered shares are expected to come from the holdings of the subsidiary's two existing shareholders, United Internet and Warburg Pincus, with United Internet to retain a majority stake after the IPO, Ionos said. United Internet shares were up 1.8% to 22.23 euros in early Frankfurt trading. The intention to float document did not provide details on the target issue price or the number of shares to be offered. A source familiar with the matter told Reuters last week that Ionos could achieve a valuation of 5 billion euros ($5.42 billion) in a stake sale.

☆ German online bank N26 to expand crypto trading
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Jan 17 (Reuters) - German online bank N26 said on Tuesday that it would expand the list of countries where its customers may trade cryptocurrencies to include those in Germany and Switzerland. In addition, N26 said it would provide the service for customers in Belgium, Portugal and Ireland. Last year, N26 began offering crypto trading for some customers in Austria only, in its first foray into the asset class. N26 said it would roll out the expanded trading gradually over the coming weeks. Reporting by Tom Sims and Marta Orosz Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ 'Everything Everywhere All at Once' takes Best Picture at Critics Choice Awards
▼ + stars: | 2023-01-16 | by ( ) www.nbcnews.com time to read: +3 min

Top movie nominee "Everything Everywhere All at Once" won big at the 28th Critics Choice Awards on Sunday night in Los Angeles, taking home honors for Best Picture as well as directing, screenplay, editing and best supporting actor. The top TV series awards went to "Better Call Saul" for Best Drama and "Abbott Elementary," for Best Comedy. Special awards were presented to Janelle Monáe, who received the #SeeHer award, and Jeff Bridges was honored with the Lifetime Achievement Award. Read the full winners list below. Best Picture“Everything Everywhere All at Once”Best ActressCate Blanchett — “Tár”Best ActorBrendan Fraser — “The Whale”Best DirectorDaniel Kwan and Daniel Scheinert — “Everything Everywhere All at Once”Best Limited Series“The Dropout”Best Drama Series“Better Call Saul”Best Young Actor/ActressGabriel LaBelle — “The Fabelmans”Best Comedy“Glass Onion: A Knives Out Mystery”Best Acting Ensemble“Glass Onion: A Knives Out Mystery” (“Last Week Tonight with John Oliver”Best Comedy Special“Norm Macdonald: Nothing Special”Best Foreign Language Series“Pachinko”Best Animated Series“Harley Quinn”Best Movie Made for Television“Weird: The Al Yankovic Story”Best Actress in a Drama SeriesZendaya — “Euphoria”Best Actor in a Drama SeriesBob Odenkirk — “Better Call Saul”Best Hair and Makeup“Elvis”Best Visual Effects“Avatar: The Way of Water”Best EditingPaul Rogers — “Everything Everywhere All at Once”Best Production DesignFlorencia Martin, Anthony Carlino —Best CinematographyClaudio Miranda — “Top Gun: Maverick”Best Comedy Series“Abbott Elementary”Best Actress in a Comedy SeriesJean Smart — “Hacks”Best Actor in a Comedy SeriesJeremy Allen White — “The Bear”#SeeHer AwardJanelle MonáeLifetime Achievement AwardJeff BridgesBest Animated Feature“Guillermo del Toro’s Pinocchio”Best Actor in a Limited Series or Movie Made for TelevisionDaniel Radcliffe — “Weird: The Al Yankovic Story”Best Costume DesignRuth E. Carter — “Black Panther: Wakanda Forever”Best Song“Naatu Naatu” — “RRR”Best ScoreHildur Guðnadóttir — “Tár”Best Original ScreenplayDaniel Kwan, Daniel Scheinert — “Everything Everywhere All at Once”Best Adapted ScreenplaySarah Polley — “Women Talking”Best Supporting ActressAngela Bassett — “Black Panther: Wakanda Forever”Best Supporting ActorKe Huy Quan — “Everything Everywhere All at Once”Best Supporting Actor in a Comedy SeriesHenry Winkler — “Barry”Best Supporting Actress in a Comedy SeriesSheryl Lee Ralph — “Abbott Elementary”Best Supporting Actor in a Limited Series or Movie Made for TelevisionPaul Walter Hauser — “Black Bird”Best Supporting Actress in a Limited Series or Movie Made for TelevisionNiecy Nash-Betts — “Dahmer — Monster: The Jeffrey Dahmer Story”Best Supporting Actor in a Drama SeriesGiancarlo Esposito — “Better Call Saul”Best Supporting Actress in a Drama SeriesJennifer Coolidge — “The White Lotus”Best Foreign Language Film“RRR”Best Actress in a Limited Series or Movie Made For TelevisionAmanda Seyfried — The Dropout

☆ German defence minister resigns amid criticism, pressure over Ukraine arms
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +4 min

Lambrecht asked Scholz to dismiss her, as formally required, and he has approved, a spokesperson for the Social Democratic (SPD)-led coalition government said. During a visit to arms manufacturer Hensoldt, Scholz thanked Lambrecht for her service and said he would act fast to replace her. Among the candidates mooted by German media are Parliamentary Commissioner for the Armed Forces Eva Hoegl, junior defence minister Siemtje Moeller, SPD party chief Lars Klingbeil and Labour Minister Hubertus Heil. Economy Minister Robert Habeck praised Lambrecht for her ambition to reform the Bundeswehr and said her decision would not have been taken lightly. Associated with this were for me many special impressions, many encounters with interesting, great people," Lambrecht said in the video.

☆ German Defence minister resigns, successor to be announced promptly
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +3 min

Lambrecht asked the chancellor to dismiss her, as formally required, and Scholz has accepted it, a government spokesperson said. The chancellor would propose a successor promptly, the person added, refusing to comment on names. Parliamentary Commissioner for the Armed Forces Eva Hoegl, junior defence minister Siemtje Moeller, SPD party head Lars Klingbeil and Labour Minister Hubertus Heil have been suggested as candidates by German media. The Frankfurter Allgemeine Zeitung newspaper said, citing government sources, that a successor would be announced on Tuesday. Marie-Agnes Strack-Zimmermann, the head of Germany's parliamentary defence committee and a member of Scholz's junior coalition partner Free Democrats (FDP), called for her successor to be installed quickly.

☆ German wholesale prices rise in December but at slower pace
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 16 (Reuters) - Germany's wholesale price index rose in December compared with the same month last year although at a slower pace than in previous months, according to data released on Monday. Wholesale prices rose by 12.8% on the year, compared with a November reading of 14.9%, the federal statistics office reported. Wholesale price growth peaked in April, with a 23.8% year-on-year increase. High wholesale prices are driven mainly by increased prices for raw materials and intermediate products. In December, the prices of mineral oil products rose 22.8% compared with December 2021, having the largest impact in the wholesale price index, Destatis said.

☆ United Internet's Ionos wants to start IPO process this month - source
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Jan 13 (Reuters) - United Internet (UTDI.DE) subsidiary Ionos wants to begin the process for an initial public offering (IPO) this month, a financial source told Reuters on Friday. A valuation of 5 billion euros ($5.42 billion) for Ionos is realistic, said a source. Ionos declined to comment. ($1 = 0.9229 euros)Reporting by Alexander Huebner und Hakan Ersen, Writing by Miranda Murray, Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

☆ I made $163,000 in revenue in one year as a freelance writer. Here are 5 game-changers I wish I knew sooner in my career.
▼ + stars: | 2023-01-13 | by ( Dorothy Cucci | ) www.businessinsider.com time to read: +6 min

I went back to full-time freelancing in January 2020, and last year, I made about $163,000 in revenue. Here's what I wish I knew sooner about making it as a freelance writer. Make sure that everyone in your corner knows that you're freelancing and that you're looking for work, and don't be shy about reminding them of that. I never went back to working a full-time job because I love the freedom and sense of job security freelancing gives me, especially in a dicey economy. If I were laid off from a full-time job, my entire income would get taken away all at once.

☆ German economy likely stagnated in Q4 - stats office
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 13 (Reuters) - German economic output likely stagnated in the final quarter of last year and grew by 1.9% over the full-year 2022, the Federal Statistics Office said on Friday, suggesting Europe's largest economy may just escape a recession over the winter. The initial fourth quarter readout suggests Germany may just avoid a recession -- defined as two successive quarters of contraction. German inflation eased for a second month in a row in December due to falling energy prices and the government's one-off payment of household energy bills, with EU-harmonized consumer prices rising by 9.6% on the year. Germany's state deficit ratio registered 2.6% of GDP in 2022, the Statistics Office added. Reporting by Miranda Murray and Maria Martinez Writing by Paul Carrel, editing by Kirsti KnolleOur Standards: The Thomson Reuters Trust Principles.

☆ Google, Porsche in talks over Google Apps access
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +2 min

The deal, which is only being considered for the Porsche brand and not the Volkswagen Group more widely, would enable Porsche customers access to Google applications like Google Maps and Google Assistant without needing to connect the car to an Android phone. Spokespeople for Porsche and Google were not immediately available for comment. A spokesperson for Volkswagen software unit Cariad declined to comment. Porsche had previously been reluctant to use Google software because Google asked for too much data to be shared, according to Manager Magazin, which first reported the talks. Carmakers including General Motors, Renault, Nissan and Ford use embedded Google technology in their vehicles via a Google Automotive Services (GAS) package, offering features like Google Maps, Google Assistant and other applications.

☆ Swiss Six exchange opens probe into Clariant whistleblower case
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 12 (Reuters) - Switzerland's Six stock exchange on Thursday opened an investigation into Clariant (CLN.S) over the possible disclosure of price-sensitive information, following whistleblowers' allegations that some staff had manipulated accounts. A spokesperson for the specialty chemical company said the investigation related to a delay in publishing its 2021 results, due to an investigation into the accounting of some provisions and accruals. In February, Clariant delayed the release of 2021 results as independent advisors looked into the allegations that some staff manipulated accounts in 2020 and 2021 to help meet financial targets. In April that investigation concluded that there had been no impact on sales and cash numbers previously reported, it said. Reporting by Miranda Murray and John Stonestreet; Editing by Noele Illien and Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

☆ Mercedes to drop EQ product brand -Handelsblatt
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Jan 12 (Reuters) - Mercedes-Benz (MBGn.DE) is set to drop the EQ product brand for battery-electric cars as soon as the next generation of compact cars, set to be on the market from the end of 2024, German daily Handelsblatt said on Thursday, citing company sources. The decision is based on Chief Executive Ola Kaellenius' focus on electric-only cars, making the EQ brand redundant as Mercedes turns away from the combustion engine, Handelsblatt cited the sources as saying. The German carmaker now markets its all-electric model series under the EQ brand, first announced in 2016, with its first model, the EQC electric SUV, launched in 2019. Mercedes did not immediately respond to a request for comment. Writing by Miranda Murray; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ German premium car brands handled supply chain woes better than VW
▼ + stars: | 2023-01-10 | by ( Victoria Waldersee | ) www.reuters.com time to read: +3 min

[1/4] The new hybrid-electric BMW XM is displayed at the BMW manufacturing plant in Greer, South Carolina, U.S., October 19, 2022. Though the fourth quarter provided universal relief for the carmakers, China's extensive lockdowns early in the year were particularly hard on sales volumes. Audi's deliveries fell 3.9% to 1.61 million, with Europe the only region to register marginal growth after an 18.7% jump in German sales. That compared with only a 1% drop in Mercedes-Benz total sales and its 143% leap in deliveries of electric and hybrid vehicles. The Volkswagen brand fared worst year on year, with a 6.8% fall in sales attributed to supply chain issues affecting all model types.

☆ Uniper CEO to resign due to government takeover
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 10 (Reuters) - Uniper (UN01.DE) Chief Executive Klaus-Dieter Maubach plans to resign this year due to the nationalisation of the embattled utility by the German government, the firm said in a statement on Tuesday. They will both continue performing their duties until suitable replacements have been appointed, it said, adding that the supervisory board has already begun the succession process. Tuesday's announcement hardly comes as a surprise, following the reshuffling of the supervisory board last year with the departure of representatives from former majority shareholder Fortum. "The Uniper Supervisory Board is already working full steam to put the new Management Board team in place, and we are very confident we will be able to announce more about the replacements soon," said supervisory board chairman Tom Blades. The Berlin government in December completed a 34.5 billion euro ($36.55 billion) bailout of Uniper, following European Commission approval, a nationalisation made necessary because of Uniper's exposure to surging gas prices following Russia's invasion of Ukraine.

☆ Mercedes-Benz sells 2.05 million passenger cars in 2022
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 10 (Reuters) - Mercedes-Benz (MBGn.DE) delivered 2.05 million passenger cars in 2022, the company said on Tuesday, down 1% on the previous year as the carmaker felt the impact of COVID-19 measures and bottlenecks. Still, fourth-quarter sales rose 17% as logistics and supply chain bottlenecks eased, and battery-electric sales grew 124% over the course of the year to 117,800 units. Demand for the carmaker's high-end Maybach vehicles was particularly strong, with 2022 sales up 37% year-on-year driven by higher sales in China, Japan, Korea and the Middle East. The only key region to see a year-on-year fall in sales was China, with a 1% drop, according to Tuesday's data. Entry-level vehicles, the lowest price segment, saw a 10% sales drop primarily due to supply chain bottlenecks, the carmaker said.

☆ BMW sales recover in fourth quarter as supply chain issues ease
▼ + stars: | 2023-01-10 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

Full-year deliveries were down 4.8%, with Europe and China hardest hit by supply chain troubles that curbed output, particularly in the first half of the year. But sales bounced back in the fourth quarter as the group rejigged supply chains in Europe and lockdowns were lifted in China. Sales of fully electric vehicles also performed well, more than doubling to 215,755 over the year. BMW weathered the early days of the COVID-19 pandemic better than competitors, achieving record sales in 2021. The carmaker now plans to to move to a direct sales model in 24 European markets, with agents acting as sales representatives, it said in Tuesday's trading update.

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