Finance

Spain slides further into recession

spain slides further into recession

With this, the statisticians confirmed an initial estimate by the spanish central bank. Spain’s GDP had already contracted by 0.3 percent in each of the previous two quarters.

The worsening of the crisis is even more evident in a year-on-year comparison: economic output fell by 1.0 percent in the second quarter, compared with minus 0.4 percent in the first quarter.

Spain’s economy is being hit hard by the government’s drastic restructuring course – with savings and tax increases. Unemployment in spain is at its highest level in decades at almost 25 percent.

Finance

Foundation assets in jeopardy due to bank failure?

Foundation assets in jeopardy due to bank failure?

The news of the takeover of HSH (hamburgisch-schleswig-holsteinische)-nordbank by the US investors cerberus and james christopher flowers has startled city councilor klaus neuner (CSU). He cares about the liquid assets of the pastor norbert stang/paul herbst "schen foundation. By decision of the city council, a sum of 118,000 euros had been invested with this troubled institution in 2015.
Already in february 2000, the estate of pastor michael norbert stang and paul herbst had been combined and invested in the ebermannstadt senior center. Nine of the 73 apartments, which are intended to enable senior citizens to live independently within their own four walls, are owned by the foundation.
According to neuner, the original idea was to buy one additional apartment with the tenant lot and thus fulfill the foundation’s purpose. However, the foundation’s supervision did not play along here. A foundation fund has been requested in order to be liquid in the event of unforeseen renovation work. In addition, the statutes stipulated that every year at christmas, gifts were to be given to needy seniors. Money had to be available for this as well.
Until 2015, the foundation’s assets, which had grown to a rough order of almost 120,000 euros, were invested as a fixed deposit at a local bank (sparkasse). Due to the rapid development of interest rates, the city council instructed the administration to examine alternative forms of investment.
The choice fell on a product from HSH nordbank, which the bank’s financial advisor had recommended to the administration. The city council decided on 27. July 2015 to invest 118,000 euros with HSH nordbank at an interest rate of 0.84 percent. A decision that was made in agreement with the foundation supervisor of the district office.
"We had not done that", a member of the forchheim foundation committee criticizes this decision. Even then, according to the financial expert from forchheim, there were clear signs that this north german credit institution was in a bad way. The unrivaled interest rates alone had set off alarm bells among city councilors. "The higher the interest, the higher the risk. Everybody knows that", finds the member of the forchheim foundation committee.
However, he adds, it depends on how the money is invested. If there is something in the terms of business about risk liability, it could be that in the event of bankruptcy, the deposits are gone.
"That’s why I asked explicitly, but our chamberlain was relatively quiet about it", klaus neuner adds.
Chamberman wolfgang krippel appeased. "This is nothing risky and has been agreed with the foundation’s supervisory authority."
In a written statement, mayor christiane meyer (NLE) adds that the plant is tamper-proof, a loss of value is almost impossible, and a rough stability of value is ensured. The ebermannstadt mayor underlines. "Despite the planned sale, the foundation’s deposit is secured." It refers to paragraph 94(4) of the security system of the savings banks financial group. The joint liability scheme of the savings bank financial groups will be effective for two years after the sale of the HSH-bank.
Councilman klaus neuner, on the other hand, counters: "according to the deposit protection act, generally only deposits up to an amount of 100.000 euros covered by the statutory entitlement." He asks: "what about the remaining? Who guarantees that the foundation will receive the entire sum back in august??"
Mayor christiane meyer, on the other hand, is confident that the foundation will not lose any money. Since the commitment period of the investment of the foundation assets of the parrer stang/paul herbst foundation with nordbank expires on 6. The administration will propose to the city council a new form of investment that takes account of the current development.

Finance

Bvb managing director watzke: “take the next step”

Bvb managing director watzke: 'take the next step'

Borussia dortmund enters the new season with a lot of confidence. In an interview with the deutsche presse-agentur, managing director hans-joachim watzke explains why he has set the championship as the season’s goal for the first time in years.

Question: the first duel between the two title favorites, FC bayern and BVB, will take place on saturday. How important is the supercup for you?? Is it a well-paid test or a first gauge for the rest of the season??

Hans-joachim watzke: it’s the most important test of preparation, but also the first compulsory game. Due to the close finish of the two teams in the previous season, the game has naturally taken on a different significance for many german soccer fans. In the past, the stadium was sold out in a week or two. This time it was a few hours. People are eagerly awaiting it. And from what i hear from munich, it’s being taken seriously there, too.

Finance

“Good examples”: mainstockheim “open house” is in the finals

This is the fifth year that BR kulturradio bayern 2 has honored people and their projects for a better society with its "good example" competition. The jury nominated five finalists from among the 400 or so entries. As of now, the public can call bayern2.De/gutes-beispiel vote on the winner and the distribution of the prize money totaling 10,000 euros.

One of the finalists is the mainstockheim project "open house. The keller family has been working for years to preserve old, seed-resistant varieties of vegetables that can be used and propagated in any garden. The seed festival, where hundreds of tomato, potato and bean varieties are exchanged, has found many imitators throughout germany. Open house has reintroduced three old wheat varieties to the market and now wants to cultivate a lower franconian variety of cabbage again in the region.

The award ceremony will take place on wednesday, 29. April 2020, from 18.05 o’clock live on bayern 2 instead. The jury members and finalists are connected. Until then, you can order online at bayern2.De/good-example uber the winners to be voted on. In addition, on 29. April also the opportunity to vote by telephone.

Finance

Police solve series of burglaries in the region

Police solve series of burglaries in the region

With the arrest of a pair of brothers in bad kissingen on tuesday morning (11. December), the police have uncovered a series of burglaries at banks that has been going on since the end of june and also affects the habberge district. Two cases were picked up by the police in the district, which may belong to this series. It is about a burglary in a bank at the end of june in untersteinbach and in a financial institution in aidhausen in september.

It started at the end of june
Since the end of june, twelve burglaries in financial institutions in the main-rhon region alone can be attributed to the duo, according to the findings of the criminal police in schweinfurt to date. The two acts in untersteinbach and aidhausen are counted among them. In all cases, the suspects mainly targeted the atms of smaller bank branches.
The two men, aged 34 and 29, have robbed a total of about 85,000 euros, according to police figures. The involvement of another, a third man, has yet to be determined. According to current estimates, the property damage amounts to around 240,000 euros.

Further burglaries
The pair of brothers from the bad kissingen district are also accused of six bank burglaries in central franconia and two further offences in swabia. In the course of the months-long investigation by the criminal police, the suspicions against the two of them grew more and more, so that the public prosecutor's office in schweinfurt obtained search warrants for a total of three apartments. On tuesday morning, the investigators were at the accused's doorstep. Extensive evidence was seized during the search, which must now be evaluated.

Finance

Court finds new trail: zschape in bombing in koln?

court finds new trail: zschape in bombing in koln?

Gotzl said he had commissioned the federal criminal police office to take "measurements to improve the quality of the images and to make them more coherent.

The pictures were taken near the predominantly turkish keupstrabe in poland, where the terrorists detonated a nail bomb in 2004. According to the results of the investigation so far, the two accomplices of the main accused beate zschape, uwe mundlos and uwe bohnhardt, can be seen on the recordings. They push a bicycle with the explosive device to the crime scene.

So far, there is no reliable evidence that zschape himself could have been near the crime scenes during the attacks of the "national socialist underground" (NSU). She is accused of being an accomplice for the legalization of the group. Mundlos and bohnhardt are dead.

Finance

Union criticizes wage bouncing in the kronach district

Union criticizes wage bouncing in the kronach district

When the boss cheats on pay: in the kronach district, not all employees are paid what they are entitled to by law. The trade union nahrung-genuss-gaststatten (NGG) criticizes that. NGG refers to new figures from the federal ministry of finance. According to the report, in the first six months of the year, the responsible main customs office in schweinfurt initiated a total of 84 investigation procedures due to unpaid minimum wages. In the hotel and catering industry, the officers of the financial investigation office for clandestine employment (finanzkontrolle schwarzarbeit – FKS) found 22 cases of fraud.

For michael grundl of NGG upper franconia, one thing is clear: "every death is one too many. It is unacceptable that even two years after its introduction, not all companies are complying with the statutory minimum wage." Special industry minimum wages, such as those for hired labor, were also too often undermined.

Grundl sees the increase in controls as positive. In the first half of the year, schweinfurt customs officials inspected 128 hotels, inns and restaurants, according to statistics – that’s 42 percent more than in the same period last year. "The more basic the customs checks, the greater the risk for businesses in the kronach district of being caught in dirty practices", the trade unionist emphasizes. For this, however, the customs staff must be significantly increased. The work of the TCS is one of the most important means of enforcing compliance with the minimum wage across the board, grundl continues. Once again: "trust is good, control is better."

Finance

Buslos

Buslos

Year after year the same dilemma: the bus is completely overcrowded, drive past the bus stop and leave the mountain fans standing there in the rain, well, this year in the blazing sunshine. In some parts of the village it is necessary to wait for an hour for the bus to arrive.

It gets funny when you like to take a cab. It is not so much easier. A not at all unfriendly voice from the central office explains that it can take half an hour for the cab to arrive. "It’s berg, you understand…" Half an hour is definitely shorter than waiting for the bus. But at the bus stop of all places there is a problem. For the not so friendly voice wanted to have an address. Only the indication of the bus stop is not enough. "Our drivers do not like it so much…" As if i was standing at the bus stop for pleasure…

When a good hour later neither a cab arrives nor the next overcrowded bus rushes by, that’s it for this day on the mountain. A lot of money saved, at least that’s what your mountain reporter thinks.

Finance

Lichteneiche arson now in court

lichteneiche arson now in court

"The woman was not even remotely thought to have set the fire!" Gerd schneider relays what residents of schlesienstrabe said to him. At the beginning of the year, a series of fires had kept the densely populated street in the west of the memmelsdorf district in suspense. Since a suspected resident was taken into custody, "there is peace", schneider continues. "The people here are happy that they can finally sleep again without having to worry that they will suddenly have to jump out of bed." The trial of a 77-year-old woman suspected of being responsible for the series of arsons begins today, friday, at bamberg district court. Since her arrest, the woman has been housed in a clinic.

Plotzlich homeless

The municipality of memmelsdorf was confronted with the task of accommodating 78 people from one day to the next in connection with the series of fires. After the fire in the multi-story house in schlesienstrabe, probably the largest and most damaging fire in the series, all the residents had to leave their apartments at night. In the blink of an eye, they were homeless and the community had to find them a place to stay.

Mayor schneider (no party affiliation) is deeply moved here by the willingness to help the fire victims and the community. Neighboring communities offered lodgings, the municipality of lichteneiche offered vacation apartments, and a hotelier offered his hotel. Because fire and rubbing had rendered many things unusable, the residents had literally nothing left. The community immediately set up a donation account, into which over 16,000 euros were deposited and then paid out to the fire victims.

Finance

Trump threatens france and woos great britain

Trump threatens france and woos great britain

Punitive tariffs for some, trade deals with others: U.S. President donald trump has threatened france with countermeasures over its recently passed digital tax.

At the same time, he promised the new british prime minister, boris johnson, that a "very comprehensive free trade agreement" would be concluded.

Trump said at the white house that the tax recently passed by paris for global internet companies was "wrong," and the u.S. Therefore had to react. France "should not have done this. In response to questions from journalists, he said he was considering imposing punitive duties on french wine. It could be duties on wine or on something else, he added.