Monday, October 20, 2014

Investors and analysts surprised: New iPhone models Apple-rock numbers – n-tv.de NEWS

Investors and analysts surprised: New iPhone models Apple-rock numbers – n-tv.de NEWS

Economy
 


 Tuesday, October 21, 2014

 
 
 


 
 A gross margin of 38 percent says it all. At Apple, but more superlatives must still here, so shareholders and analysts are satisfied. In the past quarter, which is the case.

 


  Charts
 
 

Apple profits and sales once again increased substantially and exceeded expectations. An important reason for the jump in profits was the strong sales of the new iPhone models at the end of the fourth fiscal quarter. So Apple could offset the weakening iPad paragraphs. The shares gained after trading hours in a first reaction to the numbers easily.

The company claims to have sold approximately 39.3 million iPhones. A year earlier the company had gotten rid of 33.8 million iPhones. Analysts had expected an increase to 37.8 million units compared to last year.

The iPhone 6 and the larger iPhone while 6 Plus came only on 19 September and thus shortly before quarter final on 27 September at the market. However, they ensured the same for a boost in sales: the first week end alone received more than 10 million units over the shop counters

Impressive numbers

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a surprisingly strong jump in sales there was the Mac computer. Your sales increased from 4.57 million units a year ago to 5.52 million in late September concluded fourth quarter. Sales of the iPad tablet less strong contrast in the third quarter in a row. The iPad sales fell year on year by 12.5 percent to 12.3 million units. Just last week, Apple has introduced new models of its tablets, intended to boost sales.

The Group revenues rose last quarter year on year by 12.4 percent to $ 42.12 billion, as the company claimed U.S. Closing Time announced. The profit grew by 12.7 percent to nearly $ 8.47 billion. Earnings per share were $ 1.42. Analysts had expected $ 1.31. Gross margin was 38 percent. Apple itself had been 37 to 38 per cent in view. For the current quarter, the Group expects from 37.5 to 38.5 percent.

  Source: n-tv.de
 


 
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Debate on higher government spending: France as supplicants in Berlin – Neue Zürcher Zeitung

Debate on higher government spending: France as supplicants in Berlin – Neue Zürcher Zeitung

France is on the defensive. The country has a competition problem, and its national debt is almost as high as the annual economic output. Also in Germany, the economy may indeed have cooled, but the unemployment rate is 5% half as high as in France. In addition, Berlin wants to do next year for the first time since 1969 no new debt. That would be a strong signal. The French, however, it would see better, if Germany was spending more money. So France’s Economy Minister Emmanuel Macron and Finance Minister Michel Sapin ahead of the visit had advertised for Monday in Berlin that Germany also invested more in the next three years, € 50 billion.



To strive saving face

The idea: If France «save» € 50 billion over the same period is, it would be only fair if Germany this fall in demand almost compensated. Of course, the French Minister did not want to be understood as ‘claim’ their proposal after consultations with their German colleagues. And the German Economics Minister Sigmar Gabriel said that they had not given each other advice.

Macron made to the press but clearly that, in contrast to France, he sees an appropriate financial resources in Germany. The German Finance Minister Wolfgang Schaeuble called the French foray, however politely as “excitation”. This is but a chance, because Germany knew only too well the importance of sound public finances are in uncertain times. And Germany is still not the end: The debt ratio is 75%, considerably higher than the Maastricht limit of 60%

The German side tried indeed to saving face for Paris, but it managed more poorly than. pretty. Gabriel explained that according to the OECD, the investment rate in Germany amounts to 17% of economic output. The organization recommending the country a quota of 20%. This would be seen over three years just about the € 50 billion correspond to call France, Gabriel said. Schäuble added, however, that Germany, the social market economy feel obliged, in the non-governmental, but private investment played the main role. While it is in principle agree with the thrust of the OECD, but can not accurately directing a numerical target investments. One must understand such remarks as swipe to Paris, which always thinks in state terms when it comes to business.



Even Berlin has reform deficit

Everyone should do what he for really think that also help the other – on this formula, the Quartet agreed finally to Berlin. Translated this means: It is agreed that you are in disagreement. And as usual in such cases, is given to a group of experts to cover up the gap. Technocrats from both countries are therefore developing proposals for investment projects to early December, and how they should be financed and the sectors in which they are to settle. Though

Macron and Sapin granted in Berlin that their country had become more competitive , and referred it to the labor market. But to comprehensive reforms – keyword: 35-hour week – it has not been able to wrestle. But Germany is resting on his laurels for a long time. Because the country’s Euro-group chief Jeroen Dijsselbloem recalled recently. He has played on the Hartz laws, which Germany had implemented ten years ago and are one reason for the good situation on the labor market.

The quartet would offer in any case a broad field that across the EU -Economy heal. Thus, Bundesbank President Jens Weidmann advocated last week in Riga, to finally complete the internal market in services. This is about the implementation of the country of origin principle

For shear could also provide more free trade -. Witness the negotiations between the United States and the Euro-zone. However, it is significant that the Minister mentioned the discussions on the transatlantic trade and investment partnership (TTIP) with a single word. According to the OECD a package of structural reforms in the labor and goods market and a tax and pension reform could increase the per capita income in the EU within ten years by 11%.

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Also strike on Tuesday: Pilots strike at Lufthansa exacerbate – ABC Online

Also strike on Tuesday: Pilots strike at Lufthansa exacerbate – ABC Online

Monday, 10.20.2014, 18:14
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A few hours after the end of the train drivers’ strike, the Lufthansa pilots are now again gone on strike again and have to wait thousands of passengers or leave altogether. On Tuesday the strike will be extended.

At noon, the 35-hour strike by airline pilots began first on the short and medium range. On Tuesday, the arrears from 06.00 clock until shortly before midnight to be extended to long-haul routes, such as the union Vereinigung Cockpit (VC) announced. Lufthansa flights in 1511 emphasized, are affected about 166 000 passengers.

The eighth wave of strikes in the conflict over the early retirement of pilots is especially true Lufthansa passengers on routes to and from Frankfurt. Europe’s largest airline introduced the long-range connections in the Main metropolis for Tuesday an almost complete. The majority of short and medium-haul flights will also be deleted, said the airline.



dispute about early retirement

The Lufthansa wants their pilots go later than previously in the paid early retirement. These complex transition rules were offered. Both sides accused each other of intransigence. “It is not clear why the Vereinigung Cockpit so uncompromising a solution to the labor dispute locked” Lufthansa Chief Financial Officer Simone Menne. A cockpit speaker criticized, so far, Lufthansa has just bricked.

When the train drivers finished in the early morning their longest walkout this year. The German train drivers union (GDL) had passenger and freight strike 50 hours 61 hours. Passenger traffic had come to a standstill to 85 percent, said the GDL chairman Claus Weselsky dpa. The web explained the other hand, you have “at least one third of the traffic offer” can.

Law for the bargaining unit

The strike at the weekend has caused, according to the Deutsche Bahn economic harm “tens of millions”. Weselsky reiterated that the GDL from Monday inlay on a seven-day strike break. The union wants five percent more income and shortened by two hours weekly working time.

Chancellor Angela Merkel is given the waves of strikes in the railways and Lufthansa for an early understanding of collective bargaining. They hope “that such conflicts can be resolved quickly,” said deputy government spokesman Georg champion in Berlin. From the perspective of the Chancellor showed the strikes, “that there are many good reasons to adopt a law on the bargaining unit.” According to the Labour Ministry, the Federal Cabinet is expected to address on December 3 with an appropriate design.

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Friday, October 17, 2014

Weekend in the sign of the train drivers strike – tagesschau.de

Weekend in the sign of the train drivers strike – tagesschau.de

<-! - Media>

Date: 17/10/2014 16:24 clock

Because of the strike by train drivers travelers should expect delays today. As in the previous strike, the railway has set up a replacement schedule. Be it again to get a third of the long-distance transport upright and give the customer some planning security objective. For this working before the strike began staff and trains are already used differently.

Meanwhile, put the path of the train drivers’ union GDL before a new tariff offer. It provides for a wage increase in three steps by a total of five percent and a term of 30 months. It also includes a one-time payment of around 325 euros. “We want to talk about all topics, not only on tariff conditions of the engine-driver, but also on the conditions for train with the GDL,” said announcer Achim Stauss. It should in the company but given no tariff competition.

At the same time he called on the union to return to the negotiating table. “We have invited the GDL to collective bargaining on this Sunday,” added Stauss. The GDL did not comment yet on the offer

. <- Infobox ->

The company pointed out that the strike meet in passenger one of the busiest weekends of the year. In eleven states end or begin autumn holidays. Even on normal Sundays lies the utilization of trains 30 percent higher than on other days.



effect until Monday

Since the Afternoon stand still the freight trains. The train driver then want to expand on Saturday to start operating at 2.00 clock on all passenger trains, including the S-Bahn strike. The strike will last until Monday at 4.00 clock. Thus it would also have an impact on commuter traffic on Monday.

are

affected by the strike, according to the Deutsche Bahn also all special trains to the football games on the weekend. The arrival and departure of the fans to the stadiums can not be guaranteed. The train passengers asked her to inform on their website about the current state and the replacement timetables

. <- Infobox ->

“GDL runs amok”

The fifth strike action is the longest in this bargaining round. The conflict of the German train drivers union with the state-owned company escalated so ever. “The GDL runs amok,” said the web. “Without Need” millions of people would spoiled the holiday, “just because of lust for power”. The passenger association Pro Bahn threw the GDL intransigence before.



Weselsky defended GDL position

GDL chief Claus Weselsky declared the strike was necessary because the web was still not ready to go into substantive negotiations with the GDL for the entire train crew. This is about overtime limit, better shift schedules and five percent more income.

The GDL requires not only five percent wage increase and a shortening of the working week. You will also enforce that they will not only train drivers represents, but also professionals such as train conductors. For these previously competing Railway and Transport union (ECG) has negotiated collective agreements.

Federal Transport Minister Alexander Dobrindt demanded a quick return to the negotiating table. “The parties should quickly resume talks, because solutions exist only at the negotiating table,” the CSU politician who said “Passau Neue Presse”. He warned that consequences for third parties should be kept low

. <- Infobox ->

About this theme tagesschau reported on October 17th, 2014 at 12:00 clock.

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Tuesday, October 14, 2014

Google CEO Eric Schmidt and Sigmar Gabriel argue about Privacy – Spiegel Online

Google CEO Eric Schmidt and Sigmar Gabriel argue about Privacy – Spiegel Online

Berlin – After almost one and a half hours Sigmar Gabriel takes his interlocutors sometimes in protection. Google using a tax loophole in Ireland over the years saved billions, was exceptionally not the fault of the Internet Group, says the Minister of Economic Affairs. But the “stupidity of the European Union”, which previously could not agree on a uniform tax legislation itself.

This defense speech remains the exception. When Gabriel debated on Tuesday night in his ministry with Eric Schmidt about the “value of our data,” the Google CEO must put up with a lot. Finally, he does not yet awakened the impression that the Privacy Policy him sleepless nights. From Schmidt coined the phrase, “If there is something that you do not want it learns someone, maybe you should not do anyway.”

Gabriel again lined up in recent months in the great multitude of Google’s critics and even mused aloud about a break-up of the Group after. Schmidt countered cool in an interview with SPIEGEL: “Sometimes our critics simply do not know too much about us.”

But completely uninformed is Gabriel did not go into the discussion. So he wants to know from Schmidt about why Google is reading the news in his service Gmail. “We do not,” says Schmidt, “people are not involved.” There are only algorithms that scanned the contents of the mails – to provide users then can serve up appropriate ads

Gabriel digs deeper.. How could it be then, that Google recently announced a user because of child pornography images to the authorities. Whose arrest was indeed unquestionably correct. “Nevertheless, we would say in Germany, which is not the task of a private company.” Now Schmidt admits but the participation of people, if not by our own staff: You’ve gotten from outside an indication of the user

A Global Group as Klitsche

.

The dialogue is typical for large parts of the evening. The head of the most valuable brand in the world is doing in Berlin as if he were a fairly insignificant Klitsche before. So Schmidt has about then, not Google is the world’s most popular app, but Facebook. Google could be overtaken by a competitor, as it once even Yahoo displaced.

And not Google’s handling of data was “the real problem,” says Schmidt. But the sharp criticism of him NSA spying, which have damaged the decades-old partnership between Americans and Germans. That sounds almost as if it had not already been massive criticism of Google products such as Street View.

Where Schmidt does, however, too small, as the economy minister makes himself and his country sometimes too large. Gabriel likes playing the role of the Social Democrats, who always held in the New Economy hype in the industry, according to the other countries crave today. As a viewer of the “Old Economy” speaks, Gabriel snaps at him: “If we had listened to you 15 years ago, then we would be today a bankrupt country.”

Instead, Germany was for technological trends such as the Internet of Things and the necessary industry 4.0 now optimally equipped, claims Gabriel. He has introduced a significantly revised down growth forecast a few hours ago, which fueled the debate on necessary investments -. Including in the long requested expansion of broadband internet

Waiting for broadband

“I could not do my job if I did live in the Sauerland,” complains a Berlin programmer in the discussion. Even Google CEO Schmidt allowed himself pointing out that Germany is lagging behind in broadband. “That could fix your pretty easily.” And Gabriel himself admits that startup initiatives such as the Berlin Startup Center Factory of Google support, while many German corporations aristocratic manner.

Although Gabriel does in the discussion some constructive suggestions. About a European Privacy Seal in the form of a smiling @ sign. Or the replacement of subjects such as Latin and Greek in favor of computer science education.

But in the end remains primarily a well-known trench which also runs between the audience in the hall as between Twitter users who join in the discussion #wirtschaftfuermorgen under the hashtag: On the one hand Fortschrittseuphoriker as Schmidt, the much rather than on opportunities to talk about risks. And on the other hand, mostly European skeptics that managers such as Schmidt on their promises will never buy sight unseen.

Perhaps the German skepticism is yes, but also a business basis. “You are very hard on yourself,” says Schmidt his German audience at the very beginning. “And you are very successful.”

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Train drivers on strike on Wednesday to 14 clock for 14 hours – FAZ – Frankfurter Allgemeine Zeitung

Train drivers on strike on Wednesday to 14 clock for 14 hours – FAZ – Frankfurter Allgemeine Zeitung

 
      

 
 
 
 
 
     
 
 
 
 
 

 
     
 
             
     
                          On Wednesday are from 14 clock again shut the trains.
             

 
                 
 
     
 
     
                         
             
                                                                                 

At Deutsche Bahn train drivers come this Wednesday at 14 clock again nationwide in the strike. The German train drivers union (GDL) called on them for 14 hours low-work and thus for the first time paralyze even the rush hour traffic in Germany. At 4 Clock on Thursday the walkout to be terminated. According to experience, but also significant limitations are then possible. Affected the long-distance and regional services, as well as commuter trains and the freight.


                                                             
             
                                                                                 
                                         

The German railway refused substantive collective bargaining with the GDL, criticized the president Claus Weselsky – an accusation that the train had rejected until Tuesday. “The German railway requires of us actually that will keep your feet still, until we be abolished by law”, Weselsky said. Compared with the Hessischer Rundfunk Weselsky spoke of an “incredible arrogance” of the web that have not moved since the recent strike.


                                                             
             
                                                                                 

“negotiating instead strike”

The German railway dismissed the allegation that she did not negotiate content with the train drivers, but again back and criticized the recent projects of the GDL on the other hand as completely incomprehensible. The strike will bring both sides in the matter no further, the company said. “The GDL should negotiate rather than strike.”


                                                             
             
                                                                                                  

             
                                                                                 

The company also announced that on Wednesday starting at midnight applies a replacement schedule. With this limited schedule as many travelers as possible should be brought more to the goal, the company said. Travelers could obtain valid on Wednesday trains on the website of the web over the normal timetable. However, where the strike itself leads to cancellations and delays, know the track until the strike began at 14 clock, said a railway spokesman.


                                                             
             
                                                                                 

It was not until the night of Wednesday last week a nine-hour strike had paralyzed rail traffic and even during the day yet led to numerous delays and outages. After GDL data here fell from 90 percent of the trains or drove very late from. Tens of thousands of travelers had to reschedule.


                                                             
             
                                                                                                                                                                                                                                                                                          

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The GDL calls for five percent more money and a two-hour shorter working week. You will also negotiate for train, board caterers and planners that coordinate in the control centers and trains staff. Because so far failed negotiations. The strike on Wednesday will be the fourth walkout in the months since simmering conflict.


                                              
 
   
 
 
 
           

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train drivers’ strike Trains stand still

As announced, the engineer of Deutsche Bahn have begun their nationwide strike on the evening. By Wednesday morning 6 clock now will turn out more than 200 long-distance and local trains several thousand. Even after this is to be expected with numerous failures More

07.10.2014, 21:17 clock |. Economy

train driver strike this time for 14 hours

The German train drivers union (GDL) has called on its members as of Wednesday 14 clock to the recent strike. The walkout is scheduled to last until Thursday morning 4 clock More

14.10.2014, 20:57 clock |. Economy

drivers on strike on Tuesday evening

long-distance and regional trains, freight trains and commuter trains to a standstill – the train drivers’ union GDL has called on its members to a nationwide strike. The walkout starts tonight. More

10.07.2014, 09:15 clock | Economy

     
     
     

 

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drivers on strike on Wednesday to 14 clock for 14 hours

The nearest railway strike

train drivers strike Wednesday from 14 clock for 14 hours

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The locomotive engineer will on Wednesday 14 clock in 14 hours nationwide strike. The union GDL raises the Deutsche Bahn “incredible arrogance” and is demanding higher wages and shorter working hours.

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Schmidt vs. Gabriel: With the request for intelligent answers – FAZ – Frankfurter Allgemeine Zeitung

Schmidt vs. Gabriel: With the request for intelligent answers – FAZ – Frankfurter Allgemeine Zeitung

 
      

 
 
 
 
 
     
 
 
 
 
 

 
     
 
             
     
                          Saw is exposed to harsh criticism: Google Executive Chairman Eric Schmidt
             

 
                 
 
     
 
     
                         
             
                                                                                 

After about a half hour, the writer Ingo Schulze, the mood in the audience summed up aptly. The dispute between Economics Minister Sigmar Gabriel and Google Executive Chairman Eric Schmidt Berlin made him skeptical, Schulze said. The input speech by billionaire in Silicon Valley was suspicious namely sheepishly. Eric Schmidt has talked a lot of worries, stresses the uncertainty of the future. Here, the progress is quite a different: Google is still an incredible company

.
                                                             
             
                                                                                 
                                         

If you had twenty years ago Schulze tells it – he would not have believed that all of the facts that created Google could become a reality. In addition, in the field of action of a single company.


                                                             
             
                                                                                 

Each story can have two courses

So the writers resorted to, which Sigmar Gabriel opened the evening: Google is the most unusual, most successful and most valuable company in the world. It “leaves no one indifferent,” said the Vice-Chancellor. The promise of freedom associated with the Google services was unthinkable twenty years ago. Yet he also knew now that every story can have two courses.


                                                             
             
                                                                                 

The opportunities inherent dangers lived: for data sovereignty of the individual, the social market economy and “the survival of the democratic polity”. Commentators have described it impressively, as they of “mineral rights on people” talking or clarifying how “people to objects” would, ipso facto, that company zuführten their profile and behavior data unbridled machines.


                                                             
             
                                                                                                                                                                                                                                                                                                                              

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Today, it turned Gabriel out, should again be discussed on how to communicate with each other securely and confidentially . And, although the post and telecommunications is actually a fundamental and inalienable right that directly from human dignity, so be inferred the first article of the Basic Law. It is time to empower the people again, Gabriel said. But one working in Europe at the General Data Protection Regulation and care is a “European Data Architecture”, which he wanted to do with the new European Commission.


                                                             
             
                                                                                 But

the same care also applies the market economy, Gabriel said. Had you ever heard too much on the demanding voices praising the Neuer Markt, Germany today would be a poor country, he said. Therefore it go in all praise of the digital economy never just about innovation, but also to integration. The new must be made fruitful, without destroying the existing. Germany should sit at the head of the movement in Europe and accept the change without fear and make.


                                                             
             
                                                                                 

From dreamers and doers

The next presentation by Eric Schmidt then, however, did not address a single one of the mentioned points of Sigmar Gabriel. Instead, Eric Schmidt spoke about dreamers and doers, the belief in innovation; have brought a repetition of the achievements of the first Industrial Revolution, the prosperity, shorter working hours, higher life expectancy and good wages. He was doing to the people, the only benefit as a user of Google services, said Schmidt. So there is neither a phenomenon that Google itself out as new gatekeepers in the digital world, yet essential infrastructure agency.


                                                             
             
                                                                                 

Schmidt believes: Google’s success story was repeated at any time by others. The data sovereignty of the individual is already given, since each could erase its data track on Google per click. Privacy is his company’s most important Schmidt stressed around the end with sharp words to appeal to the intelligence that had attacked his company.


                                                             
             
             
                 
                                                                                          
 
 
 
 
 
     
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

     
     

 
     

     
 
 
 

 
         
          © Reuters
 
     

Kept more lectures, held to discuss: Schmidt (. R) and Economy Minister Gabriel

 
     
 
     
 
                             
         
         
 


 

     

 

 
 


 
 
     
                 
                                                                             
                                                                                                  Google Executive Chairman Schmidt and German Economy Minister Gabriel speak falling on a panel  discussion in Berlin
         
                                     
                                          instead of discussing Kept more lectures: Schmidt (. R) and Economy Minister Gabriel
                     
     

 

 


 
                                             
                                                             
             
                                                                                 

But only the questions from the audience managed to resolve the straightness of the lectures and approached the remarks of the two speakers of reality: Gerd Billen, State Secretary in the Department of Justice and Consumer Affairs Ministry, asked about the possible preference of Google services before competitors do in-house search engine, which is currently being investigated by the European Commission. Robert Maier, who counts as an entrepreneur with complainants in the process, asked why Google was not willing to pay taxes in Germany.


                                                             
             
                                                                                 

There were asked questions about how Google fusioniere user data in order to analyze them can. It was criticized that Erich Schmidt outer on the algorithms of his business as if he or another employee nothing to do with them. Google had no contact. For the availability of apps in Google’s Android operating system only opaque rules would apply. What remains for the middle class, if the “smart creatives” the fate certain, as Eric Schmidt have described it in his book for the next economy?


                                                             
             
                                                                                 

“prompt to regulate”

The social scientist Harald Welzer used his remarks no longer a question of substance, but criticized only the preceding answers Schmidt: He wanted to “a more intelligent response” to the questions, he said.

                                                             
             
                                                                                 

Ultimately then used Sigmar Gabriel the call for questions, were to be expected on this evening of Eric Schmidt replies. On the one hand he opened the privacy problem – because, that applies not only to the protection of informational self-determination and of personal rights, but to get any insight into the workings of Google

.
                                                             
             
                                                                                 

After Schmidt then on one of the questions evasively answered, and said to abiding by the law, Gabriel declared: “So this is a call for regulation.” If Google claiming to comply with laws, rather than build trust in other ways, “We need to change the law so that we can daily in the algorithms.”

                                              
 
   
 
 
 
           

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Google The Pink World of Eric Schmidt

The Board of Directors Chief of Google introduces his new book on the front of the group. Schmidt gives itself as a technology optimist, criticism of Google, however, is not provided. More From Roland Lindner

10.02.2014, 11:52 clock | Economy

Google’s vision of the total networking

stock quotes, cat videos, news, Who searches the Internet, the place – and the most by using the search engine Google. But the technology group will be far more: The Internet company has itself declared a do-gooder. And screws already in a fully networked morning More

09.03.2014, 11:04 clock | Economy

Google Advisory Council in Berlin When in doubt, delete?

Delete or not: In response to the judgment of the European Court of Justice in favor of a right to be forgotten asks Google European experts to assess. Today, the committee in Berlin met. More From Lea Beier man

10.14.2014, 17:23 clock | feuilleton

     
     
     

 

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Schmidt vs. Gabriel

With the request for intelligent answers

From

Does a more aggressive economic ministers on a subdued Google Executive Chairman Sigmar Gabriel and Eric Schmidt arguing in Berlin about future risks and the survival of democracy. The public remains clueless.

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Train driver strikes lead early as Wednesday morning to train cancellations – Frankfurter Rundschau

Train driver strikes lead early as Wednesday morning to train cancellations – Frankfurter Rundschau

The GDL again threatens strike Photo: Paul tines.

The GDL again threatens strike. Photo: Paul tines

Berlin

train passengers must change jobs again this Wednesday: The drivers want to leave long-distance and regional trains and S-Bahn. Because of a replacement schedule of the train already covered on Wednesday morning numerous connections from.

Deutsche Bahn passengers must be set for a re-train drivers strike as early as Wednesday morning on cancellations and delays. In the deadlocked pay dispute their members the train drivers’ union GDL called for a nationwide 14-hour walkout on – from 14.00 clock clock on Wednesday until 4:00 am Thursday morning. In the web in the long-distance traffic is already applies because the advertised train drivers strike on Wednesday from 0:00 clock to a replacement schedule. Already in the morning fall from numerous trains. Affected the long-distance and regional services, as well as commuter trains and the freight.

Travelers could valid on Wednesday train since Tuesday evening, available from the website of the web over the normal timetable, informed the Group with. Where the strike itself leads to cancellations and delays, but it may be known only at the beginning of the labor dispute at 14.00 clock, said a railway spokesman. . According to experience, significant restrictions are possible even after the end of the strike

The German railway refused substantive collective bargaining with the German train drivers union (GDL), criticized the president Claus Weselsky – an accusation that the train had rejected until Tuesday. “The DB requires us actually, that is the feet hold still until we are legally abolished,” Weselsky, who pointed out a law on collective bargaining unit, the plans, the federal government said.

The German railway criticized the recent strike as totally incomprehensible. The walkout bring both sides in the matter no further, the company said. “The GDL should negotiate rather than strike.” Once again rejected the web the allegation that she did not negotiate content with the train drivers.

It was not until the night of Wednesday last week a nine hour strike paralyzed rail traffic and even during the day yet led to numerous delays and outages. The GDL calls for five percent more money and a two-hour shorter working week.

The train drivers’ union wants to negotiate for train, board caterers and planners that coordinate in the control centers trains and staff. She rivals the larger Railway and Transport union (ECG). However the railway intends to prevent competing collective agreements, so far failed negotiations

Weselsky stressed:.. “Employers know that we are willing to make concessions on substantive negotiations” Previously had attacked the train again sharply on Tuesday. To the union members he wrote: “We have to experience together, such as the management of the DB is in an incredibly perfidious nature heaven and hell in motion to quash our legitimate demands for protection against overloading of the train crew.”

The drivers were “found to be insubordinate, greedy and threatening the social peace of the country separatists in the corner,” complained Weselsky. “So we will make in the bargaining round in 2014, a once and for all.” He added: “The deliberate attempt to discredit your national chairman as egomaniac goes thoroughly into the pants,” he writes in a union magazine. (AP)

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GDL attacked Group: strike to paralyze rail traffic again – n-tv.de NEWS

GDL attacked Group: strike to paralyze rail traffic again – n-tv.de NEWS

Economy
 


 Tuesday, October 14, 2014

 
 
 


 
 On train drivers come again massive disabilities: The drivers want from Wednesday afternoon nationwide abstain for 14 hours. The track is already on the morning a replacement schedule in force.

 


 

train driver must again likely to have significant disabilities and cancellations tomorrow, Wednesday nationwide. As the German train drivers union (GDL) announced that it has called upon the engine driver, train conductor, board restaurateurs, dispatchers and instructors in all railway company Deutsche Bahn on Wednesday 14 to Thursday 4 clock clock to a nationwide strike. The train will leave at midnight already come into force a restricted replacement schedule.

In this way, the Group will still be able to bring as many travelers as possible to the goal, as it was called. Travelers could valid on Wednesday train since the evening available from the website of the web over the normal timetable.

unaffected criticized the railway announced the train drivers’ strike as totally incomprehensible. The walkout bring both sides in the matter no further, the company said. “The GDL should negotiate rather than strike.” Once again rejected the web the allegation that she did not negotiate content with the train drivers.

Previously, the union had declared the group “denied the GDL still substantive bargaining for the train crew.” GDL chief Claus Weselsky spoke in HR info from an “incredible arrogance of the Deutsche Bahn”. The railway management had not moved since the recent strike.



Plays track on time

The GDL requirements include five percent wage increase and a shortening of the working week. But she also wants to enforce that it will not only train driver represents, but also professionals such as train conductors. For these previously competing Railway and Transport union (ECG) has negotiated collective agreements

To enforce their demands, the train drivers had already resigned from their work three times -. Least on the night of Wednesday last week. In the nine-hour strike tens of thousands of travelers had to reschedule, 2500 local trains fell from 160 freight trains stopped.

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The train had recently proposed to suspend collective bargaining with the GDL until the forecast of the grand coalition is legal basis for bargaining unit. Until then, the train drivers should receive two percent wage increase. These Weselsky said: “The DB requires us actually, that we keep quiet feet, until we be abolished by law.” The GDL will not wait with the collective bargaining for the train crew, “until eventually a law bargaining unit are”. Train staff now urgently need better pay and working time arrangements.

  Source: n-tv.de
 


 
 
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TV criticism hard but fair: train drivers, blackmail, hostage Gangster – FAZ – Frankfurter Allgemeine Zeitung

TV criticism hard but fair: train drivers, blackmail, hostage Gangster – FAZ – Frankfurter Allgemeine Zeitung

 
      

 
 
 
 
 
     
 
 
 
 
 

 
     
 
             
     
                          View as “blackmail” from? GDL chief Claus Weselsky with striking drivers colleagues
             

 
                 
 
     
 
     
                         
             
                                                                                 

A so trivial a matter as a strike outside walls of operation brings the Germans in violent flashes. When pilots or train drivers refuse to work on mobile clients, even intellectuals to be Furies. “Now we are thus back to the platforms and freeze” blustered recently Roland Tichy, Chairman of the venerable Ludwig-Erhard-Foundation. “Thank you, union German train drivers that you take Germany’s people and economy hostage.” Tichy is still never noticed by special restraint, but now he put two riot shoveling it: The readers of his blog “insight” was the occasion of the insurrection in the asked last week, “to ask any engineer to task if he is in the engineer gang here.”

                                                             
             
                                                                                                                                                                                                                                                      

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 Thiemo Heeg Author:. Thiemo Heeg, born in 1966, editor in business

Tichy would therefore have been the ideal choice for Frank Plasbergs talk show “Tough but fair”, which clothed his formulation in question form on Monday evening: Are we hostages of the mini-unions? You would at RTL and in a scripted reality soap, Tichy’s part would have been clear: storming towards his opponent Claus Weselsky, confront him if he is in the engineer gang here. Yes, the chairman of the trade union GDL would then have to sheepishly admit that I’m even the gang leader. Perhaps Tichy in the Eastern socialized learned-rail vehicle locksmith felt then indeed rhetorical, but not physically grown. Or he devoted himself to long again another Aufregerthema, we do not know. His part had to occupy at least different, and they did it with the same relentless dedication.


                                                             
             
                                                                                 

drivers and their “holy war”

A real editor, Ulrich Reitz from the “Focus” had ever miss in the latest issue of his magazine Weselsky precaution, the top note 6 and let him be accused of “power hungry” . With his “ego trip” and a “blackmail potential” that will “shamelessly exploited” the GDL boss have the “Terrible” deserved. We especially liked Reitz a set of Weselskys predecessor Manfred Schell: “The stands up, as he would call for a holy war.” The “Focus” man with pleasurable connoisseur: “This is a word that is currently only available from other contexts knows. “

                                                             
             
                                                                                 

For more headwind, already a veritable hurricane blew Weselsky opposed by the SPD General Secretary Yasmin Fahimi. SPD? Is not the party that is closely related to the unions? Yes, just so. On its homepage announced the 46-year-old “union work and SPD belong together in my understanding of politics.” Around one and a half decades Fahimi worked for the Mining, Chemical and Energy. Your significant other is the IG BCE chairman Michael Vassiliadis. The GDL chairman Claus Weselsky other hand they seem to perceive at best as a red cloth. Fahimis concise opinion goes like this: The strike by train drivers is divisive. If everyone only strike themselves, undermines and weakens the community idea of ​​strong unions.


                                                             
             
                                                                                 

When politicians to corporate speakers are

This view can attach, especially if you want a grand coalition just choose a law on collective bargaining unit, the major unions preferably in collective bargaining. But Fahimi shot verbally several times over the top. She spoke the GDL boss from the honesty. And when they spoke of a blackmail Deutsche Bahn to host Plasberg wondered: The spokeswoman for the company could not be better formulate

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The third Weselsky-Basher Thomas Selter was a guest. He is a hugely popular talk show contact for editors, if you are looking for a voice out of the economy. Finally, it has therefore succeeds perfectly to mimic an entrepreneur, because he himself is one. Selter leads as managing the knitting needle manufacturer Gustav Selter GmbH, presumably the last company of its kind in Germany. Who holds the Gustav Selter GmbH for a curiosity, should ‘take a look at TV presence seltzer. The list is impressive: At Anne Will he talked about poverty in old age, with Günther Jauch on “Press the rich?” In Maybrit Illner the question haunted him

“traps with the limits of the wages?”
                                                             
             
                                                                                 

fear of public hostage

And now the railway strike. Selter has as mostly a clear opinion. He was even now quite a few years here, and he knew how earlier were the strikes. Today it was still chaos, and the public will taken hostage. This Selter had fulfilled his part, said word from the key question had fallen, but Selter had long since missed all knitting needles. Some already speak of an impending recession, “we run in a much more difficult time”, and then some might “do with relatively little effort havoc.”


                                                             
             
                                                                                 

If the GDL on strike about a week, could the – as he had read, but of course did not know whether it’s true – 100 million euro cost on the day. Selters’ indignant conclusion: “If any blackmailer extorted the web to make a million, he is chased by the whole country. And when 100 million are set in the sand on the day, find all perfectly normal. That can not be right. “


                                                             
             
                                                                                 

Weselsky smiled slyly and embarrassed at the same time. And knew in that moment just before the end of the broadcast that he had actually lost at least this talk. The former Interior Minister Gerhart Baum, the pilots’ union Vereinigung Cockpit represents as a lawyer, had been of little help. But on arguments it is even now not more. This week, the German must expect extensive strike action on the track expected to be back. And then someone speaks certainly again with conviction of extortion and hostage taking.


                                              
 
   
 
 
 
           

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drivers on strike on Tuesday evening

long-distance and regional trains, freight trains and commuter trains to a standstill – the train drivers’ union GDL has called on its members to a nationwide strike. The walkout starts tonight. More

10.07.2014, 09:15 clock | Economy

train drivers’ strike The trains stand still

As announced, the engineer of Deutsche Bahn have begun their nationwide strike on the evening. By Wednesday morning 6 clock now will turn out more than 200 long-distance and local trains several thousand. Even after this is to be expected with numerous failures More

07.10.2014, 21:17 clock |. Economy

Hoeness has been blackmailed

A 50-year-old man allegedly threatened serious difficulties for his upcoming custody Hoeness. The blackmailer, who has already served several prison terms, was arrested by the police. More

13.05.2014, 16:33 clock | Society

     
     
     

 

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Television Criticism: tough but fair

drivers, blackmail, hostage Gangster

From Thiemo Heeg

The strikes of small unions as GDL and cockpit affect millions of people in Germany. As some critics go too easily by the rhetorical Gaul.

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Nobel Prize in Economics for Jean Tirole – Modest, friendly, helpful – Süddeutsche.de

Nobel Prize in Economics for Jean Tirole – Modest, friendly, helpful – Süddeutsche.de

Jean Tirole is not the pop star of the economy. It represents a bulky tray and complicated issues that are important but: It’s about power.

From Hans von der Hagen

As Dean Martin Peitz had yet proved by the University of Mannheim some foresight when he formulated almost exactly three years ago: “I would not be surprised, this internationally renowned economists in the suggestion list for the retrieve the next Nobel Prize in Economics. “

One of the time honored with an honorary doctorate was Jean Tirole. Now this year he actually receives the Nobel Prize for his “analysis of the power of markets and regulation”. A special feature is the same for several reasons: First, Tirole is from France, so from Europe – were so far from the 74 previous winners of nearly two-thirds of the United States and only 23 people from the old world. Moreover, there was in the past few years hardly individual award winners – most recently in 2008 Paul Krugman. In most cases, the prize was shared.

The 61-year-old Tirole one of those economists who have long been considered for a Nobel Prize in consideration, although his area of ​​expertise, the industrial economics, is bulky. It’s mostly about competition – for markets and the behavior of firms in these markets. Questions are concretely important such as: When should mergers be allowed? When threatened the power of individual companies to be too big? Or when are contracts between companies so detrimental to consumers that they should be banned?



The power of corporations tame

In addition, Tirole concerned with the regulation of enterprises, so the question as companies with much power – about former state enterprises, monopolies or the major energy suppliers – can be tamed

Is it a coincidence that Tirole just now, when so much is said about the regulation of banks and corporations, the. Nobel Prize receives?



Nobel Prize In Economics The award goes to Jean Tirole

The French Professor Tirole received the award for his analysis on the subject of market power and regulation.

(Video: Reuters, Photo: AFP , Photo: AP)

“Yes,” says Volker cam, which is itself industrial economist at the University of Mannheim and Tirole and whose work knows well. Already have Tirole 1988 published “The Theory of Industrial Organization”, a book that set the standard to this day. The regulation was an important issue in the 1980s, because at that time many state monopolies to private monopolies – ie to companies that had no competitors in their markets. The fear was then as now great that these companies could exploit the concomitant power to the detriment of consumers or other companies.

Tirole has moved a lot in the industrial economy, he led especially important game-theoretic methods in the tray one. There is hardly anyone who has published so wide at the highest level, says cam. So it was not easy, focused to describe his work. In one of Tyrol’s articles, the cam deems important, it is, for example, the question of what could be the effects of a so-called vertical merger. From a vertical merger is spoken, as when a car manufacturer buys a supplier.

This is an area in which courts still like to draw inspiration from the more neo-liberal ideas of the Chicago School. Which in turn implies: Vertical mergers have a negative impact for consumers, because in this way market power could not be extended – so different than a merger of two companies that manufacture similar products. Tirole, however came to the conclusion that vertical mergers might well entail disadvantages for the consumer. Insofar Tirole stand for the so-called post-Chicago School, says cam.



theory close to the consumer

Sounds theoretically? Perhaps. But how much corporations struggled to get through the back door more power, showed only a few months ago the telecom. They wanted to impose a limit on the data volume in the Internet-Flatrate. The trick: When downloading the amount of data for its own products such as Internet TV should not be counted. Insofar as the supplier of similar products threatened to be disadvantaged by this provision. Problems like this are the ones with that are addressed in Tirole.

The new Nobel laureate professor at the University of Toulouse, where it has built up one of the leading departments of Industrial Economics. Tirole has decisively contributed to his profound work that easily, at least in this field Toulouse with the best business schools in the world can measure. Now of course even more so.



criticism of the Price

is the Nobel Prize in economics, unlike the other Nobel Prizes, awarded by the Swedish Riksbank. Formally’s his name only: “Prize of the Swedish realm bank for economics in memory of Alfred Nobel”. Although for him apply the same selection criteria as for the other Nobel Prizes, nevertheless its very existence is always criticized – especially because Alfred Nobel once known in a letter to his brother Ludvig: “There is not a single reason that I who has no training in running a business, and I hate it with all my heart, should be tormented with such things, I speak just as well as the man in the moon. “

Friedrich August von Hayek, a winner of 1974, said at the ceremony that the price an individual bring as much authority as she could no one have in the economy. But it was mainly a reminder to the media and politicians: The Nobel Prize in Economics does not prove that the honored omnicompetent in all social questions was

Tirole itself is probably just barely hold for omnicompetent.. Cam says the Frenchman was a “very humble, very friendly and very helpful person.” Maybe this also helps the reputation of the Nobel Prize in Economics.

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Leipzig: First Ebola dead in Germany – Spiegel Online

Leipzig: First Ebola dead in Germany – Spiegel Online

Leipzig -. The treated in a Leipzig hospital Ebola patient from Africa is dead, the 56-year-old United Nations employee had died in the night of Tuesday, said the Klinikum St. Georg. The man was flown last Thursday with a special aircraft from Liberia to Leipzig and supplies ever since. The doctors had his condition “highly critical, although stable” from his arrival as designated.

“Despite intensive medical measures and the highest efforts of the medical staff,” the patient of severe infectious disease had died, it said in a brief statement of the hospital. For the rest of the day, the hospital announced further information. The man from the Sudan was the third Ebola patient is treated during the current epidemic in Germany. One is still treated in Frankfurt am Main, another was discharged well from a Hamburg hospital after five weeks of treatment.

70 to 80 percent of those infected die

yet there is no drug that is approved for the treatment of Ebola patients. Instead, it tries to strengthen the body of the patient as possible and compensate for the fluid loss generated by diarrhea and vomiting among others. The earlier the treatment begins, the better are the chances of the patient. Still, there are no exact figures on how deadly the virus is, the currently rampant in West Africa. Estimates, however, assume that only 20 to 30 percent of those infected survive

The patient was in Leipzig -., Like all Ebola patients in Germany – were treated to a special isolation for infectious diseases. Airlocks secure there, that no viruses penetrate to the outside. Furthermore, only specially trained nurses and doctors take care of those infected. Thus, their risk of infection is as low as possible, they contribute to the treatment coveralls, which are rinsed before being taken off with lye. For other patients, visitors or the public insisted on clinical data in Leipzig is no risk of infection.

According to the World Health Organization so far about 8400 people have with the current outbreak infected with the virus, more than 4000 of them have died. Nor is the epidemic in the West African countries of Liberia, Guinea and Sierra Leone out of control.

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Europe does not need a central bank Emperor Draghi – THE WORLD

Europe does not need a central bank Emperor Draghi – THE WORLD

There have been many photomontages with Mario Draghi. Even those that showed the President of the European Central Bank (ECB) with laurel wreath and a cloth over his shoulder that resembled a toga. Just as would be the guardian of European monetary policy of the descendant of Roman Emperors. Such a representation is actually nonsense. Aside from Belarus, so there is in Europe a long time no absolutist ruler more, certainly not in the form of Governors.

What sounds trite, must are pronounced clearly again these days. For precisely those institutions, otherwise keep Europe for a long democratic enough, speak a new Caesars word and pretend they wanted to raise the ECB president on a throne, let him rapture any control.

location of this play is the European Court of Justice (ECJ) in Luxembourg. There, this week will be negotiated over whether the ECB in 2012 was allowed to hang up a purchase program for government bonds of countries in crisis. So Formally, it is just a technical instrument of monetary policy, which since then has not even came into use. But in fact more fundamental questions lie on the judges’ table. It is important to clarify how far the liberties of the ECB are rich in the monetary union. Various Brussels actors are poised to misunderstand the independence of the central bank dramatically. And send an alarming signal for a Europe that would be ruled completely over the heads of its citizens away

No superfluous abundance of power -. For anyone

where the independence of the ECB is generally considered a great achievement and is being defended right in Germany. Such autonomy is a rather recent phenomenon: long it was common practice that the central bank of a country of the relevant government stood. Has proved not: Too great was the temptation for those who depend on voters favor politicians, using the printing press for a little boom to provide or to finance the debt-ridden state budget

The result was regularly high inflation – and the realization that it is better to decouple a central bank of the politics of the day. The solution: central bankers that no one can dismiss that control interest rate and monetary autonomy. In exchange, but their order is narrowly defined: you have to ensure stable money, so to keep inflation in check mainly – nothing else. For even more power, wealth without any control would be in a democracy also not justifiable.

to be in Europe but is now in danger of this second principle of the independence regime thrown overboard . In the eyes of many critics, the ECB has with its bond program violates its mandate and crossed the border into the forbidden state funding with the printing press. The Federal Constitutional Court has this view is connected, the decision but initially referred to the European Court of Justice. The other euro countries and the EU institutions to defend the ECB’s policy there vehemently -. Yet the arguments put forward here, are sensitive

charters hurt

It is precisely the EU Commission and the European Parliament have argued in their comments on the method that the ECB’s policy would be largely deprived of a judicial review. And if it goes to the governments of Spain and Italy, then this applies not only to the ECJ, but especially for the German Constitutional Court – Karlsruhe to stay out in the future if you please with the ECB

Without any judicial review but the legitimacy of an autonomous central bank is led ad absurdum. Then, the ECB would be independent not only within their mandate, as envisaged by the EU Treaties. You could decide for myself how far does this mandate – which could never be the intention. Because that would get the 24-member Governing Council, whose members are not selected, an abundance of power, which would be incompatible with democratic principles.

Even the Central Bank itself would harm such a charter. Finally, Draghi is already facing constantly confronted with the expectation that the central bank may solve the crisis in Europe alone. In this case, no monetary policy of the world untie the undeniable structural problems in many Euro countries. Depending Almighty, the ECB, however, appears, the further the already exaggerated expectations will rise.



Tempting money pots

Above all, the charter would harm Europe. A technocratic institution that can extend its influence as far as desired, to be guilty without anyone accountable – so we may not function Europe. Even that is exactly the central charge, the critic of the European Union make: In Brussels would be decided, without asking the citizens. The integration friends try to make the Union more democratic, in particular by demanding ever more influence for the EU Parliament. And now talk just this integration friends uncontrolled central authority for European financial questions the word. This is grotesque.

Sure, the crisis years have taken to their limits, the EU and its often difficult decision making. For larger common money pots that are holding the currently weaker countries to be desirable, it is in countries such as Germany no political majority. Nor enforceable seems effective control of the agreed fiscal rules, as it is called in this country. But the solution can not be that a Super institution in Frankfurt passes through a policy by the back door that would never sign off on the voters in Europe when they should have a say because.

As a monetary union stood at the abyss, has bought a pragmatic ECB time. Now, however, shows the danger of this policy: Europe is poised to become friends with the omnipresence of the central bank in financial matters, the finance ministers can save all kinds of uncomfortable decisions. So but Europe may in the long run not stand

Regardless of whether the ECJ is the government bond purchases to be legal, the Luxembourg judges should make one thing clear:., The European Central Bank is independent in its monetary policy decisions, but it is not outside the law. Just as any other institution at European level. The EU will only recover to support, if they involve the citizens when they designed their future in a democratic way. Everything else only strengthens further the extremist forces.

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Party newspaper: Kim Jong Un is shown in public – tagesschau.de

Party newspaper: Kim Jong Un is shown in public – tagesschau.de

<-! - Media>

Date: 10/14/2014 02:15 clock

After 40 days, North Korea’s leader Kim Jong Un has first shown in public again. As the official news agency KCNA reported that Kim was in a newly built residential area for researchers’ field instructions “. Previously, he had visited a newly built Institute for Natural Energy of the State Academy of Sciences.

During the tour of the construction projects Kim did the scientists of North Korea praised as patriots, “their whole lives to building a rich and powerful nation dedicated to” have. The party newspaper “Rodong Sinmun” showed, among other things, images of a robed in black ruler, the smiling leaning on a cane.



speculation about Kim’s health

estimated at 31 years head of state recently had been sighted on September 3, at a concert, then he dived. His absence at important official events caused worldwide speculation about his health and his control over the hermetically sealed country.

In a TV report from late September was only just above the ” malaise “reported on video images of August was a limping and overweight Kim to see. The comment of the state television: “Our Marshal illuminates the people the way like a flame – despite his discomfort.” No details were about the current condition of the ruler in the KCNA report made.

However, despite the obvious suffering Kims go observer does not believe that he is in serious danger. This opinion is shared by the South Korean Choi Yoon Hee chief of staff. The health problems of the ruler “are not serious enough to undermine its status as a ruler,” Hee said on Monday at a hearing in front of the Parliament in Seoul.



No evidence of a coup

Indeed, there had been no unusual troop movements or other signs of a possible coup during Kim’s absence. The senior diplomacy continued: Three members of his inner circle endowed South Korea recently made a surprise visit. For this purpose, it would be from the perspective of experts never have happened without the blessing Kims.

on this subject reported the daily show on October 14, 2014 at 04:43 clock.

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European Court: Draghi Tribunal convenes today: Cancels the ECB right? – ABC Online

European Court: Draghi Tribunal convenes today: Cancels the ECB right? – ABC Online

Tuesday, 10.14.2014, 07:52
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Mario Draghi wants to save the euro at all costs. But the ECB chief may in the event of a crisis pumping billions into the markets at all? The criticism of the course of the central bank is large. Before the European Court, the ECB must now defend.

Once again, the ECB is on trial. The Court heard this Tuesday on measures of central bank against the crisis. Specifically, it is a program to buy government bonds, which was never used.



What turns the Luxembourg process?

will negotiate the announcement by the European Central Bank (ECB) from the summer of 2012, if need be without limit to buy bonds issued by euro-crisis states. The Federal Constitutional Court came in February 2014 at the conclusion that the ECB had exceeded its powers with this so-called OMT program (“Outright Monetary Transactions”): The ECB should according to the European treaties do not operate independent economic policy. In addition, the Constitutional Court was of the opinion of the OMT decision is contrary to the prohibition of co-financing from national budgets. The final decision about leaving the Luxembourg Karlsruhe judges.



What exactly is the OMT program?

the beginning of September 2012, the Governing Council decided against the resistance of Bundesbank President Jens Weidmann, grab Euro-crisis countries, if necessary, with the unlimited purchase of government bonds under the arms. The conditions: The respective States shall previously an auxiliary application to the euro rescue fund and be subject to political reform requirements. Acquire the ECB wanted the Bonds in the secondary market, ie about banks, not directly from the States. Spain, Italy, Portugal had benefited from falling interest rates.



What was the goal of the ECB with this measure?

In the summer of 2012, the euro zone faced the ordeal. ECB President Mario Draghi felt compelled to a historic promise: “The ECB is willing to do everything within its mandate, what is needed to save the euro.” Not long after, the OMT program. That alone its announcement, the markets calmed, even critics admit. Draghi’s promise and the OMT program apply as a turning point in the debt crisis: The Fed chairman grub speculators from the water, put on the disintegration of the currency area. The concerns of national bankruptcy in Spain or Italy vanished. Investor confidence in the euro area improved – although the ECB under the OMT did not buy a single bond.



Why are government bond purchases by the ECB so controversial?

Critics say the ECB so was financing ultimately sovereign debt with the money printing press. That makes the central bank depends on the respective States and jeopardize their independence from governments. It also crippling the willingness to reform, if relied States that it is necessary, align the ECB.



How high is the risk of loss?

For all special ECB measures to fight the crisis period, the concern holds that any losses must ultimately bear the tax payer. Because losses could pass on the ECB, national central banks and Germany is on the federal bench with around 26 percent is the largest ECB shareholders. The first purchase program for government bonds (“Securities Markets Programme” / SMP), however, which had launched the Federal Reserve in May 2010, the ECB did in 2012 and 2013, a total of over two billion euro interest income.



When falls in Luxembourg a decision?

At the hearing in Luxembourg once all sides – by the plaintiffs on the ECB to political actors such as federal government, the EU Parliament and EU Commission – belongs. The verdict is expected to fall in about a year.



What threatens the ECB?

Most experts believe that the judges are waving the program. “We expect that the Court will declare the admissibility of the OMT purchases in the summer of 2015,” writes economist Andreas Rees UniCredit. This is consistent with the trend: “In the past, the ECJ had the tendency to extend the influence of the EU decision-makers.” Come the Judge concluded that the buy-back program in violation of European law, the ECB would in future hands tied. However, the ECJ could also make only certain requirements for bond purchases, about the scope or duration. As long as the process is running in Luxembourg, the central bank has further possibilities. According to the court, the procedure shall not have suspensory effect that there was no request for suspension of action before

Video:. How come the outbreak of a currency war

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