Finance news

Old-age security: How the Pension Commission wants to combat old-age poverty - without expensive gifts

Almost one in five pensioners is considered to be at risk of poverty. But the problem could be solved politically with a very simple but effective trick.

AI in the workplace: “Mistral is an alternative for us”

K Krithivasan, head of the world's largest IT service provider TCS, believes the power of OpenAI and Anthropic is overestimated - and does not believe in a job apocalypse caused by AI.

Hermès brand boss: “It’s about seduction, that’s my job”

Hermès is a myth – and mystery. Brand and sales director Florian Craen speaks exclusively to WirtschaftsWoche about the secret of the luxury group's success. And why he invests in Germany.

Real estate financing: How much do you really save when building a house?

Builders expect big savings from the muscle mortgage: they lend a hand, for example with interior work. But that doesn't always pay off. A guest post.

Middle East: US-Iran conflict flares up again despite agreement

The hope for relaxation between the USA and Iran is short-lived: after new attacks, there is renewed concern that the conflict will escalate again. The situation also remains tense in Lebanon.

China shock 2.0: China is not prepared to compromise

On Monday, China's Trade Minister Wang Wentao will meet his EU counterpart Maros Sefcovic. The EU cannot expect any concessions in the dispute over China's high export surplus.

Global economy: BIS warns of global risks from growing national debt

Many countries are stimulating the economy with more debt. From the perspective of the Bank for International Settlements, this is a risk. It warns of losses on government bonds.

Pension provision: Economist sees a need for action on civil servant pensions

Civil servant pensions put a strain on federal and state budgets. Here too, the Pension Commission has made suggestions, as one member now emphasizes again.

‘I see hope’: how mindset shifts help Hong Kong cancer patients cope with diagnosis

In the fifth instalment of a six-part Health Matters wellness series on cancer in Hong Kong, Elizabeth Cheung looks at the hidden psychological burden patients face and how support programmes are reshaping treatment. The battle with multiple cancers since the summer of 2024 has taken a mental toll far beyond what Sasa Hui Yuen-sim felt she could manage. The 67-year-old retiree was first diagnosed with breast cancer in June 2024, followed by lung cancer the following year. Between the two...

A 'perfect storm' points to a much smaller U.S. auto market by 2040

The auto industry is selling fewer cars--one forecaster says this is a fundamental change, and it is going to get worse.

UhrenWoche: The watch world is an island

Longines is launching a Sylt edition for the fifth time in a row. How much sense does the clock make for a summer? A column.

Reforms: Hot phase for the black-red reform plans

The Union and the SPD want to pull themselves together and make decisions on reforms before the summer break. Can a new sense of commonality inspire the coalition partners?

1 dead, 2 seriously injured after minibus mounts pavement, crashes in Hong Kong

One pedestrian was killed and two people seriously injured after a minibus mounted a pavement and crashed in Hong Kong’s Kowloon City district on Sunday. Police received a report at around 5.48pm that a minibus travelling along Argyle Street had mounted the pavement outside Kowloon City Court, injuring three pedestrians, 13 passengers and the driver. The minibus was travelling from Mong Kok to Tsz Wan Shan. Police said three people were seriously injured in the crash, including a 44-year-old...

‘Heart of Kwun Tong’: hundreds say goodbye to old Yue Man Square in Hong Kong

Hundreds of Hongkongers gathered in Kwun Tong overnight on Saturday to bid farewell to the streets around a historic town centre before they faded into history, with many stopping to capture one last photograph of a neighbourhood that had been part of their lives for decades. Families, couples and former residents queued beneath the Yue Man Square and Tung Yan Street signs, while others lingered at the busy junction to watch traffic pass through the last time before the roads were permanently...

Bundeswehr: Pistorius is wasting potential in expanding the reserve: soldiers under the old compulsory military service are left out

On Wednesday, the cabinet is expected to pass the law with which Pistorius wants to strengthen the Bundeswehr reserves. But the defense minister excludes former military service members.

Net result? How a Hong Kong dim sum restaurant went big on the World Cup

At a century-old teahouse in Hong Kong, a crowd of about 30 people huddled around tables packed with dim sum on a Thursday morning as they watched South Africa score against South Korea in the World Cup. Lin Heung Lau’s branch in Sheung Wan has become one of the city’s most unlikely venues for catching football after it opted to capitalise on the World Cup, with its design and marketing director saying the establishment had reaped several benefits. The business spent more than HK$200,000...

Business students ask the avatar: This is how the AI ​​professor who never gets tired works

Students at HHL Leipzig can ask a digital avatar all of their questions, even those they wouldn't dare ask the real professor. What opportunities and problems does this create?

China fires up world’s biggest superconducting magnet for nuclear fusion project

The world’s biggest superconducting magnet for a nuclear fusion reactor has passed final tests as part of China’s CRAFT “artificial sun” project, eclipsing international performance benchmarks. The assembly comprises two coils: a toroidal-field magnet that acts as a magnetic cage, and a central solenoid that serves as the igniter. The results, achieved by researchers with the Institute of Plasma Physics, Chinese Academy of Sciences, clear a major engineering hurdle on the path to confining a...

Singapore’s Pritam Singh wins vote of no confidence by landslide

In his greatest test since taking the helm of the Workers’ Party (WP) in 2018, secretary general Pritam Singh has survived by a landslide a vote of no confidence within his party, inside sources have confirmed. The Aljunied MP, who leads Singapore’s most prominent opposition party, faced a special conference on Sunday morning called by 25 cadre members who were pushing for him to step down for breaching the WP’s constitution. Sources confirmed that about 79 per cent of the 107 cadres present...

3 held as Hong Kong police seize HK$180m of suspected cocaine at typhoon shelter

Hong Kong police have seized 241kg of suspected cocaine estimated to be worth HK$180 million (US$23 million) from a typhoon shelter, marking the largest bust in the past year. Acting Senior Superintendent Kwan Chun-hin from the narcotics bureau said on Sunday that police arrested three individuals – the suspected mastermind and two key members of the trafficking syndicate – during the raid at the Aberdeen Typhoon Shelter on Friday. The operation dismantled the group and disrupted its supply...

France sees 1,000 excess deaths during record-breaking heatwave

France has ⁠recorded 1,000 excess deaths ⁠during the blistering ⁠heatwave sweeping Europe, the public health agency said on Sunday, warning that the true figure was likely to be higher. Detailing its preliminary count of excess ‌deaths, Sante Publique said most of the fatalities involved older people and that it expected the mortality rate to rise as more information became available about deaths in residential care and homes. Europeans have been enduring blistering ⁠conditions during a heatwave

+++ Iran War +++: Iran claims sole control of the Strait of Hormuz

Israel: Killed Hezbollah fighters in southern Lebanon +++ Trump confirms US attacks and threatens Iran with destruction +++ US insider: Iran attacks Bahrain and Kuwait +++ The news blog.

Double tax avoidance

Hi everyone, I'm an expat (from india)who's been living and working in Belgium for a few years now, so I'm a Belgian tax resident. I still have some savings and fixed deposits in my home country. Most of the interest comes from those fixed deposits, and my bank there deducts tax on the interest every year. I also file a tax return in my home country. Now I'm trying to figure out how this should be handled in Belgium. As far as I understand, Belgium taxes residents on their worldwide income, so I

Uniqlo operator tightens human rights monitoring of suppliers

Australian arrested after Thai teen girl found dead in suitcase

The family of a 17-year-old Thai ⁠girl whose body ⁠was found in a suitcase ⁠in Pattaya said they were devastated by her death, for which an Australian man has been arrested and charged with murder. Thai police said they arrested an Australian man in his 40s at Bangkok’s Suvarnabhumi airport ‌early on Saturday in connection with the killing in Pattaya, about 150km (93 miles) east of Bangkok. The suspect, identified as Simon Peter Carman, faces charges of murder, concealment of a body, moving or..

Russo-Ukrainian War: Kyiv confirms attacks on two refineries in Russia

Ukraine confirms an attack on a refinery that has already been admitted by Russian authorities - and goes one step further. A facility north of Moscow was also reportedly hit.

Coffee manufacturer: This is how Melitta recovers from caffeine shock

Ironically, the global coffee boom plunged Melitta into a serious crisis. Now Minden is trying out bold growth plans.

Child protection: Australia doubles penalties for social media companies

Young people under the age of 16 have not been allowed to use social media in Australia for several months. But the ban has little effect. Now the government wants to take tougher action against violations.

First long-term ETF portfolio

Hi everyone, I'm from Italy and I'm about to start investing for the long term. My current situation: - 28 years old - Stable full-time job as a software developer/engineer - Around €68k net worth, mostly in cash and fixed-rate savings products I keep most of my cash because I may buy a car and house in the next few years, and I'm still undecided about buying a house since I'm not sure I want to stay in Italy long term. For my long-term investments, I'm considering: - Initial lump sum: €2,400 -

Tax proposal: Price of shisha tobacco could double

It smells sweet and fruity when people bubble in the thousands of shisha bars. This is a horror for doctors, but it doesn't bother most consumers. You are threatened with price increases.