The German Tax-Dodge Probe That’s Roiling Banks
The investment seemed virtually risk-free, guaranteeing hefty returns after only a short period of trading. By exploiting how Germany once taxed dividend payments, dozens of bankers, brokers and lawyers helped investors snatch billions of euros from the national treasury. A decade later prosecutors won their first convictions for tax crimes, while more than 1,000 people face investigation in what’s come to be called the Cum-Ex affair.washingtonpost.com
Flooding death toll over 180 as rescuers dig deeper
German Chancellor Angela Merkel toured Schuld on Sunday, a village on the Ahr River in western Germany where buildings were damaged or destroyed by rapidly rising floodwaters. The death toll from last week's floods now stands at over 180. (July 18)news.yahoo.com
Death toll from Europe floods tops 150 as water recedes
The death toll from disastrous flooding in western Europe rose above 150 on Saturday as rescue workers toiled to clear up the devastation and prevent further damage. Police said that more than 90 people are now known to have died in western Germany's Ahrweiler county, one of the worst-hit areas, and more casualties are feared. On Friday, authorities gave a death toll of 63 for Rhineland-Palatinate state, where Ahrweiler is located.news.yahoo.com
More than 20 dead, dozens missing in heavy Europe floods
More than 20 people have died and dozens of people were missing Thursday in Germany and neighboring Belgium after heavy flooding turned streams and streets into raging torrents, sweeping away cars and causing buildings to collapse. Storms across parts of western Europe in recent days caused rivers and reservoirs to burst their banks, resulting in several flash floods overnight as rain-soaked soil failed to absorb any more water. Authorities in the western German region of Euskirchen said eight deaths had been reported there in connection with the floods.news.yahoo.com
Pope sends envoys to German diocese in church abuse crisis
Pope Francis is sending envoys to the German archdiocese of Cologne to investigate possible mistakes by senior church officials in handling past sexual abuse cases and the “complex pastoral situation” in the deeply divided church therewashingtonpost.com
German archbishop offers to resign after abuse criticism
The report commissioned by Cologne's archbishop, Cardinal Rainer Maria Woelki, absolved Woelki himself of any neglect of duty with respect to abuse victims. Francis has previously declined, at least initially, to accept resignations when they were offered to repent for mishandling sex abuse cases, though he has relented after time. Woelki said he also would temporarily suspend two Cologne church officials based on the findings of the investigation. The report found Schwaderlapp neglected his duty to inform and report abuse allegations in eight cases. AdIn January, a new system drawn up by the church to compensate abuse victims took effect.
Ford to go all electric in Europe by 2030
Ford says it will spend $1 billion to modernize its Cologne, Germany, manufacturing center, converting it into a European electric vehicle factory. (AP Photo/Martin Meissner)DETROIT – Ford is vowing to convert its entire passenger vehicle lineup in Europe to electric power by 2030 in just the latest sign of the seismic technological changes sweeping the auto industry. Ford expects two-thirds of its European commercial vehicle sales will be electric or plug-in hybrids by 2030. “We are going all in on electric vehicles,” Rowley said. The investment is part of Ford's goal of spending at least $15 billion on electric vehicles from now through 2025.
Ford invests $1 billion in German plant, targets move to 'all-electric' passenger vehicles in Europe by 2030
Ford is investing $1 billion in an electric vehicle production facility in Cologne, Germany, with the European arm of the automotive giant committing to go "all-in" on electric vehicles in the years ahead. In plans announced Wednesday morning, Ford said its entire passenger vehicle range in Europe would be "zero-emissions capable, all-electric or plug-in hybrid" by the middle of 2026, with a "completely all-electric" offering by 2030. The investment in Cologne will see the company update an existing assembly plant, converting it into a facility focused on the production of electric vehicles. "It underlines our commitment to Europe and a modern future with electric vehicles at the heart of our strategy for growth," Rowley added. The business also wants its commercial vehicle segment in Europe to be zero-emissions capable, plug-in hybrid or all-electric by 2024.cnbc.com
A subdued year for Germany's Carnival, thanks to the virus
A carnival reveler is watched by public order guards at the "Alter Markt" where normally tens of thousands of revelers dressed in carnival costumes would celebrate the start of the street carnival in Cologne, Germany, Thursday, Feb. 11, 2021. This year all carnival celebrations are banned due to the coronavirus pandemic. (AP Photo/Martin Meissner)BERLIN – Germany’s renowned Carnival celebrations got underway Thursday but without any of their usual raucous revelry. One of Germany’s first superspreader events stemmed from a Carnival celebration in a town west of Cologne last February where many people came in contact with an infected man. Cologne festival committee President Christoph Kuckelkorn told Germany’s dpa news agency that Carnival could emerge from this year purified, returning closer to its roots from the increasingly commercial, excessive celebration it had become.
Germany to reopen schools, hairdressers as virus cases drop
German Chancellor Angela Merkel briefs the media during a news conference after a meeting at the chancellery in Berlin, Germany, Wednesday, Feb. 10, 2021. "That's why we have to be so careful.”Still, officials agreed that states will be able to reopen schools and kindergartens sooner, with some, such as Berlin, announcing that they will gradually resume classes in elementary schools from Feb. 22. “Schools and kindergartens are unfortunately places where the virus is passed on,” DIVI President Gernot Marx told the Rheinische Post daily newspaper. Hairdressers will also be able to reopen on March 1, though with strict hygiene rules. On Wednesday, Germany's Robert Koch Institute reported the country had 8,072 new virus cases and 813 deaths in 24 hours.
Lockdowns weigh on German beer sales, hurt small brewers
Employees work in the small family-run Heller brewery in Cologne, Germany, Tuesday, Feb. 9, 2021. That's a big problem for Germany's many small brewers, which rely heavily on selling draft beer to bars and restaurants. Official data released last week showed beer sales in Germany dropped 5.5% last year to 8.7 billion liters (2.3 billion gallons), a decline fostered by lengthy shutdowns. That's a problem above all for Germany's many small brewers. While beer remains emblematic of Germany, the country's beer sales have been declining gradually for years as a result of health concerns and other factors.
Children receive life-changing procedure at Beaumont Children’s Hospital
Both of the Cologne-Garcia children have spinal muscular atrophy (SMA), a rare genetic disorder that destroys the muscles and nervous system, but a life-saving therapy at Beaumont Children’s Hospital has them incredibly grateful this year. “It just makes us cherish the time that we have with our families so much more.”Beaumont Children’s Hospital is one of just four hospitals in Michigan that offer the infusion therapy Olivia received. They have just been absolutely amazing,” the children’s mother said. New noninvasive heart procedure at Beaumont Health shortens recovery timeImagine heart surgery without anesthesia, breathing tubes and weeks of recovery time. A new noninvasive surgery is being offered at Beaumont Hospital that has the patient awake for the procedure.
Zverev beats Auger-Aliassime in Cologne to end title wait
COLOGNE – Alexander Zverev ended his 17-month wait for a title by drawing on the pain of his U.S. Open final defeat to beat Felix Auger-Aliassime 6-3, 6-3 and win the Cologne Indoors on Sunday. Zverev has said he thinks almost constantly about that final, and he credited it with raising his game in Cologne. Zverev's previous title was at the clay-court Geneva Open in May 2019 and he is now 12-8 in career finals. The second Cologne tournament was already holding qualification matches before Sunday's final in the first tournament took place. It will feature Zverev and U.S. Open quarterfinalist Denis Shapovalov, while former top-ranked player Andy Murray has withdrawn citing tendonitis.
New virus restrictions in Europe; Merkel warns of hard days
Medical staff takes a COVID-19 test at a coronavirus test center in Cologne, Germany, Thursday, Oct. 15, 2020. The city exceeded the important warning level of 50 new infections per 100,000 inhabitants in seven days. All pubs and restaurants must close except for takeaway services, and schools will close for two weeks for an extended half-term holiday. Germany, which was widely lauded for rapidly slowing the spread of the virus when the pandemic first broke out, has seen rapidly climbing numbers in recent days. Italy’s other hardest hit region, southern Campania, has taken similarly strict measures, including a shutdown of schools for two weeks.
German study highlights carbon footprint of video streaming
FILE - In this Aug. 20, 2019 file photo, gamers play the latest video games from Electronic Arts at the Gamescom in Cologne, Germany. Streaming high-definition video and games can result in significant greenhouse gas emissions, depending on the technology used, according to a German government-backed study released Thursday. (AP Photo/Martin Meissner)BERLIN Streaming high-definition videos and games can result in significant greenhouse gas emissions, depending on the technology used, according to a German government-backed study released Thursday. The report published by Germany's Federal Environment agency calculated the amount of carbon dioxide produced by data centers where material is stored for streaming, and by the transmission technology used to get it to consumers. It concluded that streaming video over fiber optic cables results in the lowest amount of CO2 emissions 2 grams per hour.
Sevilla beats Man United 2-1 to reach Europa League final
(Ina Fassbender/Pool Via AP)COLOGNE Luuk de Jong scored the winning goal as Sevilla came back from a goal down to beat Manchester United 2-1 on Sunday and reach the final of the Europa League. Sevilla goalkeeper Yassine Bounou kept his team in the semifinal at 1-1 with a string of saves either side of halftime, before de Jong won it. With the game at 1-1 and heading for extra time, Sevilla substitute de Jong made the breakthrough in the 78th minute. United had taken the lead in the ninth minute with yet another penalty in a season packed with them. Diego Carlos tangled with Marcus Rashford as the United forward had his shot saved, and then Bruno Fernandes stepped up to send the penalty into the top-left corner.
Champions League to be played at mini-tournament in Lisbon
(AP Photo/Joan Montfort)NYON The Champions League will finish with a 12-day mini-tournament in Lisbon, restarting in August after a five-month suspension caused by the coronavirus pandemic. The unprecedented solution also sees the Ataturk Olympic Stadium in Istanbul the originally scheduled host for the final pushed back by one year. Both competitions have yet to complete their quarterfinal line-ups with round of 16 games halted. The Champions League had four second-leg games postponed in March at Barcelona, Bayern Munich, Juventus and Manchester City. In the Europa League, only six of eight first-leg games in the round of 16 were played.
Coronavirus-triggered layoffs in US hit nearly 39 million
Public swimming pools in Germany are starting the summer season as the government is easing the coronavirus lockdown rules. More than 2.4 million people filed for unemployment last week in the latest wave of layoffs from the business shutdowns that have brought the economy to its knees, the Labor Department said. That brings the running total to a staggering 38.6 million, a job-market collapse unprecedented in its speed. A poll from The Associated Press-NORC Center for Public Affairs Research says 41% approve of his job performance, while 58% disapprove. Stephen Stanley, chief economist at Amherst Pierpont, said the latest layoffs may be particularly worrisome because they are happening even as states reopen.
Nintendo shares surge as company reports strong Switch Lite sales
Shares of Nintendo surged on Friday after the Japanese gaming company said Thursday that its second-quarter operating profit more than doubled amid strong sales for the recently launched Switch Lite device. Sales figures for the Switch Lite a stripped down and lower-priced version of Nintendo's flagship Switch console are being closely watched by the market. Analysts previously told CNBC that the device was part of Nintendo's strategy to sell more than one Switch console to each household. "We expect Switch Lite sales volume to reach 3 (million) full-year, so the 2Q sell-in total of 1.95 (million) was a surprise," the Morgan Stanley analysts said. Meanwhile, 4.98 million units of the hybrid console Switch were sold in the six months to September.cnbc.com