Author: Alan Lorenz

Two Missing After Severe Storm and Flooding in Israel
11Apr By Alan LorenzNo Comments
Israel, News

Two Missing After Severe Storm and Flooding in Israel

Two people were reported missing in Israel on Tuesday after severe storms ravaged the country's south and caused flooding. The Israeli police report this. In the night from Monday to Tuesday, the emergency services had their hands full rescuing holidaymakers who were surprised by the torrential rain. About sixty people were rescued, some of whom were dragged in their cars by the rising water. However, two people are still reported missing in the desert region of the Negev, police said in a statement on Tuesday. Since Monday evening, "heavy rainfall and strong winds are causing rivers to flood near highways 90 and 40," the country's two main roads. Several roads have been blocked near the seaside resort of Eilat, and the police have asked the population not to go near the flood...
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Chinese Spy Balloon Collected Information About US Military Bases
3Apr By Alan LorenzNo Comments
China, News, US

Chinese Spy Balloon Collected Information About US Military Bases

The Chinese balloon launched over the coast of the US state of South Carolina on February 4 was indeed able to collect sensitive information. Various sources report this to the American channel NBC News. In February of this year, the world was under the spell of suspicious objects over North American skies. On February 4, an American F-22 fighter jet shot down a large white balloon. A Chinese spy balloon, the United States declared. China has always denied that and spoke of a weather balloon. Nevertheless, the discovery of the balloon certainly caused a lot of tension between the two countries. After further investigation, the United States found that the balloon, first spotted over Alaska on January 28, could gather information. China could steer the balloon to fly over some loc...
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Spanish Authorities Do Not Want Fire Tourists: Call to Stay Away From Forest Fires
27Mar By Alan LorenzNo Comments
Europe, News, Spain

Spanish Authorities Do Not Want Fire Tourists: Call to Stay Away From Forest Fires

Spanish authorities have called for people to avoid forest fires in Castellón and Teruel, near Valencia. So-called "fire tourists" can put themselves at risk and disrupt efforts to control wildfires. "We ask again, especially tourists, not to approach the perimeter." In Castellón and Teruel, near Valencia, Spain, wildfires have burned large parts of the region to ashes. Since Saturday, 700 firefighters have been trying to contain the fire. In addition, firefighting planes and helicopters were deployed. It is the first major forest fire in Spain this year. The forest fire destroyed more than 4,000 hectares of forest. As a result, about 1,700 Spaniards had to leave their homes. Since the wildfires started, several disaster tourists have explored the neighbourhood. The police have a...
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25 Injured After Ship Overturns in Edinburgh Harbour
22Mar By Alan LorenzNo Comments
News, Scotland

25 Injured After Ship Overturns in Edinburgh Harbour

Twenty-five people were injured on Wednesday morning after a large ship overturned in a dry dock in Leith, near Edinburgh, Scotland. According to local aid workers, 15 injured people had to be hospitalised. The 3,000-tonne research vessel "Petrel" overturned on Wednesday morning when it was in dry dock in Leith. Emergency services immediately arrived on the scene. 25 people were injured in the incident. Ten could be treated at the scene, but the remaining 15 were treated at the hospital. According to Cammy Day, local council president, the ship became detached from the dock due to the strong wind. The 76-meter-long ship was laid up in 2020 due to "operational challenges" during the corona pandemic. It has not been used since then, the BBC writes. Before that, the ship wa...
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Swiss Coalition Party: UBS/Credit Suisse Merger Bank Too Big
20Mar By Alan LorenzNo Comments
Business, Europe, News, Switzerland

Swiss Coalition Party: UBS/Credit Suisse Merger Bank Too Big

The merger bank created after UBS's takeover of Credit Suisse is too big for Switzerland. Leader Roger Nordmann of the social-democratic SP said this on Monday. That party is the second largest in the Swiss parliament and is part of the governing coalition. “The new UBS is a huge risk,” said Nordmann. “That bank will soon have over 1500 billion francs in assets and is simply too big for Switzerland.” Moreover, if UBS got into trouble, the Swiss central bank SNB and the Swiss government would not have enough resources to prevent a collapse. The acquisition of Credit Suisse by UBS was finalized this weekend. Credit Suisse had been hit by a series of scandals and reported that more and more customers were withdrawing their money from the bank. The financial markets were alread...
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Newspaper: US Prosecutors Investigate Bankruptcy of Silicon Valley Bank
14Mar By Alan LorenzNo Comments
Business, News, US

Newspaper: US Prosecutors Investigate Bankruptcy of Silicon Valley Bank

US prosecutors have launched an investigation into the bankrupt Silicon Valley Bank. The US regulator for stock exchange trading, the Securities and Exchange Commission, is also investigating the California bank that was taken over by US authorities last Friday. The Wall Street Journal reports this based on insiders. According to the business newspaper, the investigation is still in an exploratory phase, and it is far from a foregone conclusion that there will be formal accusations against SVB or its directors. Public prosecutors and the regulator often start an investigation when financial services companies run into problems. The investigation at SVB would focus on, among others, directors who sold shares a few days before the bank collapsed.
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ECB can Raise Interest Rates Less Strongly Due to Unrest SVB
13Mar By Alan LorenzNo Comments
Business, Europe, News

ECB can Raise Interest Rates Less Strongly Due to Unrest SVB

The collapse of US bank Silicon Valley Bank (SVB) reduces the likelihood of a European Central Bank (ECB) pledge of a major rate hike later this week, economists say. The ECB's policymakers will meet on Thursday and decide how much to raise interest rates. At the last two meetings, interest rates rose by 0.5 percentage points. Economists initially expected that interest rates would be raised again with such a giant step, but that may now be less strong. Economists also think the US central bank will not raise interest rates by 50 basis points next week. Some market experts even speculate that the Federal Reserve (Fed) will refrain from raising interest rates altogether. "Smaller interest rate steps by the Fed are now more likely," said Van Lanschot Kempen on Monday. Last week,...
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The European Commission Raids Fragrance Industry for Cartel Investigation
7Mar By Alan LorenzNo Comments
Business, Europe, News

The European Commission Raids Fragrance Industry for Cartel Investigation

On Tuesday, the European Commission raided companies and an organization in the fragrance industry for possible violations of cartel rules. Brussels said the "unannounced inspections" took place in several European Union member states. The committee has also sent formal requests for information to various companies active in fragrances. According to a statement, there may be cooperation in the supply of fragrances and ingredients for fragrances used in consumer products such as personal care and household goods. However, the committee says it is concerned that competition rules have been violated. The committee mentioned no names. Nor was it stated in which Member States the inspections took place. However, Brussels is cooperating in the investigation with the American, Britis...
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Chinese President Xi Promises to Increase Production Capacity
6Mar By Alan LorenzNo Comments
Business, China, News

Chinese President Xi Promises to Increase Production Capacity

Chinese President Xi Jinping has promised to increase his country's production capacity and make it less dependent on foreign markets. The Chinese People's Daily reports this. Xi declared at the annual meeting of the People's Congress on Sunday that China should be able to take care of itself. "I have always said that there are two main themes for China: securing our food and building a strong manufacturing sector. As a large country with 1.4 billion inhabitants, we must rely on ourselves. We cannot depend on international markets to save us." China's technological ambitions are being held back by a series of trade restrictions by the United States and other Western allies. As a result, Beijing is seeking to build a self-sufficient industry and make sectors considered essential t...
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Timer for TikTok Teens: Need Code for App After an Hour
1Mar By Alan LorenzNo Comments
News, Technology

Timer for TikTok Teens: Need Code for App After an Hour

Teenagers on TikTok receive a warning if they spend more than an hour on social media daily. A special timer locks the app after 60 minutes. In addition, users under 18 can only continue browsing after entering a PIN code. The adjustment will take effect in the coming weeks. The minimum age for TikTok is 13 years old. With the adjustment, the social medium wants to respond to criticism that it is too addictive for young people. The young users must actively choose whether to continue watching by entering a pin code. TikTok will also send weekly overviews to teenagers, showing their total screen time. The app also advises teenagers to set a timer of 100 minutes if they find 60 minutes too little. Parents or guardians with a linked profile can also set their children's screen ti...
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