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☆ Nuclear submarine construction to generate thousands of jobs in Australia
▼ + stars: | 2023-03-13 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

China has objected to the transfer of nuclear propulsion technology to Australia. read moreThe 2021 announcement that the U.S. and Britain would share nuclear submarine technology with Australia came as a surprise to many Southeast Asian governments, said Perth USAsia Centre chief executive Gordon Flake. Government modelling showed 20,000 jobs, including 8,500 in submarine construction, would be created in Australia over 30 years, local newspapers reported on Monday. "This is about jobs, including jobs and manufacturing and Adelaide in particular will be a big beneficiary of this announcement, as well as Western Australia," he told reporters on Saturday. Flake said Albanese was correct to focus on the longer-term economic impact of servicing the nuclear submarine fleet.

☆ Salesforce's Marc Benioff says tech CEOs everywhere might soon unleash their inner Elons
▼ + stars: | 2023-03-05 | by ( Matt Turner | Dave Smith | ) www.businessinsider.com time to read: +4 min

On the agenda today:But first: Insider's Rebecca Knight is a Gen X working mom who tried TikTok's "Bare Minimum Monday" trend. Insider's Rebecca Knight studies TikTok to learn how to do Bare Minimum Monday. Sarah MackenzieWhen I first heard about "Bare Minimum Monday," the latest TikTok trend to emerge in the workplace, I thought it was nonsense, Insider's Rebecca Knight writes. But when my editor suggested I give Bare Minimum Monday a try and then write about it, I leapt at the opportunity. Key takeaways from Goldman's investor day.

☆ African migrants suffer under crackdown in Tunisia
▼ + stars: | 2023-03-01 | by ( Angus Mcdowall | ) www.reuters.com time to read: +5 min

[1/4] Ivory Coast nationals living in Tunisia and seeking repatriation, wait outside the embassy of Ivory Coast in Tunis, Tunisia February 27, 2023. Social media has, meanwhile, filled with accounts by darker-skinned people in Tunisia, including migrants with and without valid visas, African students and Black Tunisians, of ill treatment and fear. Official figures say there are 21,000 migrants from sub-Saharan African countries in Tunisia. Tunisia introduced visa-free travel for many African countries over the past decade. Many migrants in Tunisia aim to cross illegally to Europe but cannot afford the hundreds of dollars to get to Italy - a journey also taken by growing numbers of Tunisians.

☆ German police use of software to fight crime unlawful, court says
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Feb 16 (Reuters) - A top German court ruled on Thursday that police use of automated data analysis to prevent crime in some German states was unconstitutional, dealing a win to critics of the CIA-backed Palantir Technologies (PLTR.N) that provides the software. Provisions regulating the use of the technology in Hesse and Hamburg violate the right to informational self-determination under the German constitution, a statement from the constitutional court said. U.S.-based Palantir Technologies makes software for data analytics used by intelligence and law enforcement agencies around the world, according to its website. In comments to the Handelsblatt newspaper, Palantir's strategy chief in Europe, Jan Hiesserich, said the company merely provides the software for processing data, not the data itself. The German Society for Civil Rights (GFF), which brought the case against police data analysis, said Palantir software used innocent people's data to form suspicions and could also produce errors, affecting people at risk of police discrimination.

☆ 'Day of pain': Wirecard boss denies charges in massive fraud trial
▼ + stars: | 2023-02-13 | by ( Jörn Poltz | ) www.reuters.com time to read: +2 min

MUNICH, Feb 13 (Reuters) - The former boss of Wirecard on Monday expressed his "deepest regret" over the collapse of the defunct payments company but denied all allegations as he took to the stand in Germany's biggest post-war fraud trial. Austrian-born Braun, 53, and two other ex-Wirecard managers Oliver Bellenhaus and Stephan von Erffa are on trial on charges including market manipulation and fraud and face up to 15 years each in prison if convicted. "There was in reality no life outside the company," he said, speaking throughout in a calm and concentrated voice. Braun's lawyers have alleged that Bellenhaus was the main perpetrator of the fraud at Wirecard, which began processing payments for pornography and online gambling and rose to be a blue chip DAX company worth $28 billion. Reporting by Jörn Poltz and Alexander Hübner Writing by Matthias Williams Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Wolfspeed to build $3-bln EV chip plant in Germany
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +3 min

BERLIN/FRANKFURT, Feb 1 (Reuters) - U.S. chipmaker Wolfspeed (WOLF.N) will build a $3-billion chip plant in Germany, with automotive supplier ZF (ZFF.UL) investing $185 million for an equity stake, company officials said on Wednesday, confirming an earlier Reuters report. ZF's share of the factory's chip output will be defined by a separate contractual agreement, the companies said. "This is an important sign that Germany continues to be attractive even in difficult circumstances for high-tech investments," he said. "Amid the concerns that the U.S. wants to divert investments from Europe with its Inflation Reduction Act, we're showing that a U.S. firm wants to invest in Germany," a German government source said. The company announced in September a new plant in the United States due for completion in 2030.

☆ These 4 lucrative side hustles dominated 2022—and they require less than 20 hours of work per week
▼ + stars: | 2023-01-11 | by ( Megan Sauer | ) www.cnbc.com time to read: +4 min

The couple now only spends about an hour per week managing bookings, they say. She works 10-15 hours per week managing, cleaning and checking in on the bookings. Vending machinesYou might be surprised to learn how lucrative vending machines are for their owners. Now, he spends six hours per week managing 57 vending machines, which bring in an average of $30,000 per month, as his full-time job. In 2018, he moved from Rochester, New York, to Philadelphia and bought two vending machines.

☆ After New Year's Eve violence, German police union calls for action
▼ + stars: | 2023-01-04 | by ( Associated Press | ) www.nbcnews.com time to read: +3 min

Germany’s biggest police union called Tuesday for concerted action to prevent a repeat of the violent excesses seen in Berlin and other cities during the New Year’s celebrations, in which officers, firefighters and medical personnel were attacked with fireworks. Police in the capital recorded dozens of attacks and said 41 officers were injured. Online videos showing people firing rockets and throwing firecrackers at police cars and rescue vehicles drew widespread condemnation from German authorities. Some conservative and far-right politicians have noted that some of the attacks took place in areas of Berlin with large immigrant communities. Experts say the absence of such a ban may have contributed to the scale of violence and large number of fireworks injuries — including at least one death — seen this year.

REUTERS/Lucas JacksonNEW YORK, Jan 4 (Reuters) - Goldman Sachs Group Inc's (GS.N) top dealmakers are bullish on a recovery in global mergers & acquisitions (M&A) in the second half of 2023 despite a slowdown in economic growth and a weak credit market. The projections come after global M&A values slumped 36% to $3.78 trillion in 2022, from a record $5.91 trillion in 2021, according to Dealogic data. "I remain quite bullish, maybe not on the first quarter, but certainly as we go forward," said Stephan Feldgoise, global co-head of M&A. The company has been the top global M&A adviser by revenue for the past 20 years, followed by JPMorgan Chase & Co (JPM.N), according to Dealogic data. The bank sees opportunities in advising clients who are being targeted by activist investors, or fintech companies open to suitors after their valuations plunged, said Russ Hutchinson, the bank's chief operating officer of global M&A.

☆ Brandy Melville owners to pay $1.5 million settlement to thousands of employees over claims they worked 'off the clock' and without breaks
▼ + stars: | 2022-12-28 | by ( Kate Taylor | ) www.businessinsider.com time to read: +6 min

In 2021, Brandy Melville employees described racism, Hitler memes, and exploitation to Insider. Thousands of former employees of controversial fast-fashion retailer Brandy Melville are receiving checks in the mail this holiday season. Alec, who worked at Brandy Melville from 2013 to 2014, received a settlement check for $162 in late December. Over the last year, Brandy Melville has opened a number of new locations, including its second store in Australia. "I'm surprised that Brandy Melville hasn't closed down or had more people boycott them," Emily said.

☆ B2C startup HelloBello delivers healthy dog food to your door. See the 16-slide pitch deck it used to raise $1.8 million.
▼ + stars: | 2022-12-21 | by ( Maybrit Martschin | Nathan Rennolds | Business Insider Deutschland | ) www.businessinsider.com time to read: +1 min

HelloBello is an Austrian startup that aims to deliver healthy dog food to your door. The startup offers a subscription model for clients to receive customized recipes for their dogs. Insider has a copy of the pitch deck it used to raise $1.8 million. In November 2022, HelloBello raised a seed round of 1.7 million euros, or around $1.8 million. The founders want to use the new capital to build up their team, launch more food recipes, and continue their expansion into Germany.

☆ How Much Influencers Get Paid on Instagram, TikTok, and YouTube
▼ + stars: | 2022-12-20 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +6 min

Influencers earn money a number of ways, from sponsorships to selling merchandise. Insider has spoken with dozens of other influencers on Instagram, YouTube, and TikTok about how much each of them makes from videos, sponsorships, and other revenue streams. Jehava BrownHow much influencers earn from brand dealsMany influencers rely on sponsored content — from a set of Instagram posts and Stories to a dedicated YouTube video promoting a company — to earn money. Aside from being paid directly from the platform, one of the main ways many influencers earn money on Instagram is by promoting brands through sponsored in-feed posts, Stories and Reels. Graham StephanHow influencers make money directly from YouTubeMany YouTube creators earn money off the ads that play in their videos and receive a monthly payout.

☆ Egypt: How the Arab world's most populous country became addicted to debt
▼ + stars: | 2022-12-16 | by ( Cnn Staff | ) edition.cnn.com time to read: +12 min

The loan, along with billions of dollars in cash inflows from Abu Dhabi and Riyadh, are Band-Aids, experts say, designed to keep the Arab world’s most populous country afloat. Without proper reforms, however, Egypt may never be able to shake off its chronic financial woes and break its growing debt addiction. Billions of dollars from Abu Dhabi and Riyadh have poured into the Egyptian economy in recent years. Saudi Arabia’s Public Investment Fund (PIF) also launched the Saudi Egyptian Investment Company (SEIC) in August, a company dedicated to investments in several vital sectors of the Egyptian economy. Still, the Egyptian economy has struggled to shake off its economic woes.

Companies Wirecard AG FollowMUNICH, Dec 12 (Reuters) - The former Wirecard CEO Markus Braun began his defence in Germany's biggest post-war fraud trial on Monday, as his lawyer dismissed allegations of wrongdoing at the defunct payments company as "absurd" and prejudiced. They said the deception allowed Wirecard's managers to siphon money out of the company for years. "It's an absolutely absurd and erroneous notion that a gang leader would act like this," Dierlamm told the court. Braun's lawyer told the court that the prosecution's key witness was the main perpetrator. Wirecard became the first-ever member of Germany's DAX blue chip stock index to file for insolvency, owing nearly $4 billion.

☆ Wirecard bosses' fraud trial begins after scandal that rocked Germany
▼ + stars: | 2022-12-08 | by ( Jörn Poltz | ) www.reuters.com time to read: +5 min

The trial is taking place in Munich's largest and newest courtroom, a bomb-proof underground hall built in the Stadelheim prison complex. Braun, an Austrian born in Vienna, has denied embezzling money from Wirecard and accused others of running a shadow operation without his knowledge. [1/8] Wirecard's former CEO Markus Braun looks on at a courtroom as his trial begins, after the German payments company collapsed in the wake of a fraud scandal in 2020, in Munich, Germany, December 8, 2022. The fraud let Wirecard managers siphon money out of the company with no proper checks and balances. "All three defendants worked together to make Wirecard appear as an extremely successful FinTech company," said Anne Leiding, a spokesperson for the prosecutors.

☆ Wirecard ex-boss on trial for fraud in scandal that rocked Germany
▼ + stars: | 2022-12-08 | by ( Jörn Poltz | ) www.reuters.com time to read: +5 min

The trial is taking place in Munich's largest and newest courtroom, a bomb-proof underground hall built in the Stadelheim prison complex. Braun has denied embezzling money from Wirecard and accused others of running a shadow operation without his knowledge. [1/7] Wirecard's former CEO Markus Braun looks on at a courtroom as his trial begins, after the German payments company collapsed in the wake of a fraud scandal in 2020, in Munich, Germany, December 8, 2022. The fraud let Wirecard managers siphon money out of the company with no proper checks and balances. Scholz also criticised Wirecard's auditor, EY, for failing to detect the fraud.

☆ Former Wirecard boss goes on trial in fraud scandal that rocked Germany
▼ + stars: | 2022-12-08 | by ( Jörn Poltz | ) www.reuters.com time to read: +4 min

[1/2] Wirecard's former boss Markus Braun listens, ahead of testifying before a German parliamentary committee in Berlin, Germany, November 19, 2020. Braun has denied embezzling money from Wirecard and accused others of running a shadow operation without his knowledge. However, within days, Wirecard became the first-ever DAX member to file for insolvency, owing creditors nearly $4 billion. Following Wirecard's demise, the head of German financial regulator BaFin resigned and the head of Germany's accounting watchdog also stepped down. Scholz also criticised Wirecard's auditor, EY, for failing to catch the fraud.

☆ Factbox: Far-right attacks, scandals in Germany
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +2 min

Following are some of the far-right attacks and scandals that have shaken Germany in recent years:Jan. 2021 - Far-right sympathiser Stephan Ernst is handed a life sentence for shooting dead pro-immigration conservative politician Walter Luebcke who was found lying in a pool of blood outside his home in western Germany in 2019. Luebcke had been an outspoken supporter of former Chancellor Angela Merkel's decision in 2015 to let in refugees. June 2020 - German defence minister disbands company of its elite KSK special forces after a scandal over its links to far-right radicals. The attacker, a 27-year-old German, fatally shoots a woman outside the synagogue and a man inside a nearby kebab shop. An official report later says police had "massively underestimated" the risk of far-right violence and that missteps had allowed the cell to go undetected.

[1/2] The headquarters of Wirecard AG in Aschheim near Munich, Germany, September 22, 2020. REUTERS/Michael DalderMUNICH/BERLIN, Dec 6 (Reuters) - Former Wirecard executives go on trial on Thursday, two years after the collapse of the payments company that produced Germany's biggest post-war fraud scandal and sent shockwaves through the country's political and financial establishment. Wirecard, which started out processing payments for pornography and online gambling, rose to be worth $28 billion and displaced Commerzbank (CBKG.DE) in Germany's DAX blue-chip index. But in June 2020, Wirecard was forced to admit that 1.9 billion euros were missing from its balance sheet. In the ructions that followed Wirecard's demise, the head of German financial regulator BaFin resigned and the head of Germany's accounting watchdog also stepped down.

☆ 7 times NASA's James Webb Space Telescope spotted something Hubble missed
▼ + stars: | 2022-12-04 | by ( Paola Rosa-Aquino | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +8 min

The James Webb Space Telescope can capture a more complete view of galaxies, stars, and planets. Before Webb, astronomers had another workhorse cosmic observatory: the Hubble Space Telescope. Webb is 100 times stronger than Hubble, which allows astronomers to peer even further into space. Webb spied countless galaxies that Hubble missedA side by side collage of the same area taken by the Hubble and the James Webb space telescopes. Where Hubble saw a faint dot, Webb resolved 2 distinct mystery objectsOne of the lensed images of MACS0647-JD, from the James Webb Space Telescope.

☆ Lamborghini's last purely gas-powered supercar will be an off-road beast
▼ + stars: | 2022-11-30 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —The Lamborghini Huracán Sterrato, officially unveiled in Miami Wednesday will be the Italian automaker’s maker’s last purely gasoline-powered supercar. It will also be unlike any Lamborghini supercar before because it’s designed to go off-road. Other Huracán supercars have air scoops on the side but, in this car, the side air scoops are permanently closed. But the concept of the Huracán Sterrato came entirely from inside Lamborghini, said Brokert, as engineers were developing the Urus, Lamborghini’s SUV. Production of the Huracán Sterrato will begin at Lamborghini’s factory in Sant’Agata Bolognese, Italy, in February.

☆ Finance influencers on YouTube are facing anger and skepticism as crypto continues to reel with BlockFi's collapse
▼ + stars: | 2022-11-29 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +6 min

Finance influencers are facing skepticism and backlash from fans following the downfall of prominent crypto platforms, which some creators took an active role in promoting. Crypto lender BlockFi filed for Chapter 11 bankruptcy on Monday in the wake of FTX's implosion, which has rocked the sector. One notable YouTuber who has criticized influencers for peddling crypto and NFTs is Coffeezilla, who has 1.5 million subscribers. In a November 28 video, titled "My response to FTX," Stephan reflected on the mistakes he'd made. The response from his fans has been overwhelmingly negative, and the YouTube video has more dislikes than likes (it has over 8,000 dislikes).

☆ Finance influencers are cashing in on YouTube. A creator with 269,000 subscribers shares how much his channel earned every month this year.
▼ + stars: | 2022-11-16 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +3 min

Finance YouTuber Joshua Mayo shared exactly how much his channel earned every month this year. "When I started my YouTube channel, it was a slow start," the 29-year-old Mayo told Insider. His channel earned $55,459.35 from Google-placed ads. Personal finance videos tend to be lucrative because their audience is seen as more valuable to certain advertisers, particularly those in the finance space who are willing to pay top dollar. How much Mayo's YouTube channel earned every month in 2022Creators must have at least 1,000 subscribers and 4,000 watch hours in the past year to apply for YouTube's Partner Program.

☆ Investors have filed a lawsuit against FTX celeb endorsers like Tom Brady, Steph Curry, and Larry David
▼ + stars: | 2022-11-16 | by ( Nathan Mcalone | ) www.businessinsider.com time to read: +2 min

Investors have filed a lawsuit against celebs who promoted the defunct crypto exchange FTX. The suit names celebs who range from sports stars like Tom Brady and Steph Curry to Larry David. FTX, which filed for bankruptcy on Friday, had invested millions in promotions like high-profile partnerships with celebs, sponsorships including the Miami Heat's FTX Arena, and deals with finance influencers. Several finance influencers who promoted FTX have apologized to their fans in recent days, including YouTuber Graham Stephan, Insider previously reported. FTX and representatives for Brady, Curry, Ortiz, David, and O'Leary did not immediately respond to Insider's request for comment.

☆ Mass tech layoffs might look scary, but here's why your job is probably safe — even if a recession strikes
▼ + stars: | 2022-11-13 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +5 min

Tech experts told Insider that's unlikely to happen, given how tight the labor market remains. But a recession will cause unemployment to rise, and it might take longer to find a new job. Industry experts told Insider that most employers simply can't afford to lay off large swathes of workers if they want to make it out the other side. Daniel Zhao, the chief economist at Glassdoor, told Insider that the recent tech layoffs alone weren't enough to move the unemployment figure yet, but were still a signal of sorts. Nick South, a managing director at Boston Consulting Group, told Insider this means employers are still struggling to find enough high-caliber talent.

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