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Many life insurance companies promise their customers interest they cannot afford. That the first company to say goodbye to warranty policies, financial supervision is great – and warned: it might be tight for the insurance industry.

The Financial Regulator is behind the plans of the insurance industry to offer life insurance without lifetime warranties. “Given the low interest rates the insurer must act,” said the new head of insurance supervision at the Federal Institute for Financial Services Supervision (BaFin), Felix Hufeld, and the “Handelsblatt” on Tuesday. It is good that the industry working on new products and thus enable consumers more choice. The background: The market leader Allianz and Munich Re subsidiary Ergo offer since early July on life insurance policies for which the guaranteed interest rate no longer applies as usual until the contract expires. Instead, they provide – depending on capital market development – a flexible interest rate in view. Consumer advocates criticize the new models: they would the capital market risk pass on to the customer – at reasonable potential returns and high costs.


The U.S. wants to disclose details about the secret NSA wiretapping. A confidential court order that sets rules for the collection of U.S. phone data should be made public in the Senate Judiciary Committee on Wednesday. The reported several U.S. media, they rely on an unnamed government officials, senior. The Deputy Minister of Justice and the NSA chief, James Cole and John Inglis, will therefore occur in the committee.

The document concerns according to “Washington Post” a secret order to the U.S. telecommunications company Verizon of April, after which the group will deliver a variety of phone data. This was being done on the basis of the Foreign Intelligence Surveillance Act (FISA). The U.S. government had the directive to Verizon now released. The statement was subject to the policy of the intelligence that the former NSA employee Edward Snowden was published in June.

His revelations of extensive American and British surveillance programs had caused worldwide outrage. U.S. intelligence agencies are also under pressure of the U.S. House of Representatives. In the past week the Republican Justin Amash had tried with a small group deputy from the right and left wings of the U.S. House of Representatives, with a legislative initiative to stop the rampant spying the NSA. They failed in the House of Representatives narrowly by twelve votes.


Julian Assange railed against conviction WikiLeaks informant Bradley Manning. The process was unfair and was an example of a national security extremism of the U.S. government. Even Amnesty International and Reporters Network criticized the verdict.

After the guilty verdict for the WikiLeaks informant Bradley Manning by a U.S. military court Julian Assange, the government of President Barack Obama harshly criticized. The short-sighted judgment is an expression of security and extremism creates a dangerous precedent. It must be repealed. Manning, however, is “the most important journalistic source that the world has ever seen,” the founder of the Internet platform unveiling said in London.

On Tuesday, the U.S. military court had convicted 25-year-old Manning in 20 out of 22 counts at Fort Meade. Surprisingly, however, he was acquitted of the most serious point of “aiding the enemy”. Manning was declared partly because of espionage, betrayal of secrets, computer fraud and theft guilty. This Wednesday the sentencing is expected. Manning faces up to 136 years in prison

Assange himself sitting for over a year in the Ecuadorian Embassy in the British capital firm and fears being arrested when leaving the embassy and extradited to the United States. He did not confirm that Manning was actually the supplier of hundreds of thousands of secret diplomatic cables, but consistently spoke of the “alleged” source. WikiLeaks has never revealed his sources, and it is always protected, said Assange.



In Egypt, the violence escalates. Dozens of people have died in clashes between Muslim Brotherhood and the military. The brutal crackdown triggers internationally horror senior U.S. politicians demand that the army moderation. In Germany, however, there is little critical voices.


At least 72 dead and hundreds injured – that is the sad result of the clashes between security forces and supporters of deposed President Mohamed Morsi on Saturday in Cairo and Alexandria. World grows, given the crackdown by police and military against supporters of former heads of state concern that Egypt is threatening to break at the bloody conflict. Senior U.S. politicians demand that the army reserve. Secretary of State John Kerry called on the Egyptian leadership, “pull away land from the brink” that. He had expressed his deep dismay at the violence in Cairo and Alexandria in talks with Vice President Mohamed ElBaradei and Foreign Minister Nabil Fahmi. “This is a defining moment for Egypt,” Kerry said. The security forces, he called on to respect the right to peaceful protests, including quite a sustained sit. Defense Chuck Hagel speaks to the Egyptian army chief Abdel Fattah al-Sisi, whom he urged to “prevent further bloodshed and loss of life.”

UN chief Ban Ki-moon condemned the bloodshed and called on the transitional government to “ensure the protection of all Egyptians.” He appealed to the demonstrators to exercise restraint and maintain the peaceful nature of their protest. The EU foreign policy chief Catherine Ashton called on to renounce violence. Concerned voices were also heard by the foreign ministers of Germany, Britain and France. “Everything must be done to avoid a spiral of violence,” said the Foreign Ministry in Paris. According to the Muslim Brotherhood, the Mursi support, at least 120 people were killed on Saturday. Units of riot police had attacked on the edge of their protest camp in Nasr City protesters. About 4,000 people were injured. The Ministry of Health spoke against at least 72 dead and 411 injured.



Qatar emir Sheikh Hamad bin Khalifa al-Thani abdicated in favour of his 33-year-old son, Sheikh Tamim, on Tuesday, in a first for the Arab world.

"I address you today to announce that I am handing the rule over to Sheikh Tamim bin Hamad al-Thani," the 61-year-old emir said in a televised speech.

The decision marks the "beginning of a new era in which a young leadership will hold the banner."

The decision sees Tamim becoming the youngest sovereign of any of the Gulf Arab monarchies.

Sheikh Hamad, who used Qatar's immense gas wealth to drive its modernisation and transform it into a major player in world diplomacy, came to power in a coup in which he overthrew his own father Sheikh Khalifa in June 1995.

The 61-year-old emir is the first ruler to voluntarily cede power in the Arab world, where autocratic rulers held power uncontested for decades until the Arab Spring revolutions that toppled regimes in Tunisia, Egypt and Libya.

Tamim, born in 1980, is the second son of the emir and his second wife Sheikha Mozah and has been groomed for years to take the helm of the super-rich Western ally.

AirAsia and All Nippon Airways are set to announce the dissolution of their tie-up in Japan on Tuesday, reports said, because of slumping business.

Malaysia-based AirAsia is to withdraw from AirAsia Japan, a company it jointly formed with ANA to begin low-cost carrier operations out of Tokyo's Narita International Airport in August 2012, Kyodo News reported, citing unnamed sources familiar with the matter.

AirAsia aims to establish a new budget airline in partnership with another Japanese carrier after parting company with ANA, Kyodo said.

A senior AirAsia executive told the newswire on Monday that the company had made its decision and an announcement would be made Tuesday.

Tax evasion and banking secrecy, hot topics and top targets because of the financial crises and austerity, could be the focus of strong statements at the G8 meeting this week.

The British government, organising the meeting in Northern Ireland, has promised big developments on the basis of substantial progress recently in clamping down on evasion and bursting bank secrecy.

But many observers from civic bodies are pessimistic and say that the summit on Monday and Tuesday will amount to a lost opportunity despite the public outrage over recent brazen cases at a time of tax rises and budget cuts.

The tightening up of tax systems across borders, and opening up information on how businesses do their accounting across borders, are two of the burning issues for Britain which is currently chairing the G8 (Group of Eight) leading countries.

The G8 comprises the United States, Japan, Germany, France, Canada, Britain, Italy and Russia.

British Prime Minister David Cameron has prepared the way for the summit of heads and state and government by stating the "ambition" that the meeting at Lough Erne will "knock down the walls of banking secrecy" with "concrete measures".

French President Francois Hollande, badly bruised by a recent scandal involving an admission by his budget minister Jerome Cahuzac, also responsible for fighting tax evasion, that he had hidden money abroad, has said: "Tax havens must be eradicated in Europe and throughout the world."

The climate has turned strongly in favour of tough action: pressure on these two fronts, which seemed to have eased after progress in 2009, is again at a high pitch.

First, a new law in the United States, called Fatca, obliges all banks to provide US authorities with all information they hold concerning all assets owned by US taxpayers.

Meanwhile, revelations by journalists, known as "Offshore Leaks", have further strengthened the perception that no bank account can be considered secret and that hidden funds are liable to exposure.

The consequence of this is that the gates of some strongholds of banking secrecy, such as Switzerland, are beginning to give way.

The European Union, in which some countries have arrangements considered favourable to those seeking to dissimulate funds, seems to be overcoming internal divisions and trying to catch up with the United States, even though Austria and Luxembourg still show some reticence.

The G8 leaders are expected to make strong statements calling for a "truly global system of multinational information exchange", according to a draft final statement. But concrete measures appear unlikely.

Cameron has opened a second front to combat strategies by multinational companies to avoid paying tax via transfer pricing and other techniques to generate costs in high-tax countries and profits in low-tax countries or tax havens.

ublic opinion in several countries, already inflamed by stories of tax evasion and tax avoidance at a time of austerity, has been roused further by revelations in the United States and Europe that international brands such as Starbucks, Google, Amazon and Apple, pay little tax in countries where they have high-volume business.


A wave of car bombs in several cities south of Baghdad on Sunday killed at least 14 people, officials said, as Iraq grapples with a surge in violence that has sparked fears of all-out sectarian war.

The blasts went off during morning rush hour in Kut and Aziziyah, both in Wasit province bordering the capital, while vehicles rigged with explosives were also detonated in the southern cities of Nasiriyah and Basra.

At least 14 people were killed and 44 wounded in the attacks, security and medical officials said.

The deadliest attacks struck in Kut and Aziziyah.

Greece's public TV and radio channels were off the air Wednesday after a shock decision by the government to shut down the state broadcaster's operations with immediate effect, a move affecting nearly 2,700 jobs.

Thousands rushed to the broadcaster's main headquarters in a northern Athens suburb shortly after the announcement Tuesday to show their support.

"ERT is a case of an exceptional lack of transparency and incredible extravagance. This ends now," government spokesman Simos Kedikoglou said at a news conference.

His announcement comes after months of work stoppages by ERT employees in opposition to plans to restructure the broadcaster as demanded by debt-laden Greece's troika of international creditors.

Nearly 500 people also gathered outside the organisation's Thessaloniki branch in northern Greece as news editors union Poesy called on private broadcasters to hold an immediate work stoppage in solidarity.

Kedikoglou said the organisation will reopen at a later stage under a new format and with considerably fewer employees.

As screens around the country went black, the corridors of the broadcaster's headquarters were filled with stunned employees, who seemed at a loss, an AFP journalist reported.

"This is a total shock," ERT journalist Pantelis Gonos told AFP.

The European Commission on Wednesday gave Latvia a green light to join the 17-nation eurozone in January, saying the country met the conditions to join the single currency and had successfully overcome its 2008-2009 crisis.

"The Commission concludes that Latvia is ready to adopt the euro in 2014," said a report from the EU executive commending the country's economic management over the last few years.

The report will be handed to the European Parliament and to finance ministers from the 17 nations sharing the currency, who in July will formally hand down a decision on Latvia becoming the 18th member of the euro area.

The Commission said "Latvia has achieved a high degree of sustainable economic convergence with the euro area and proposes that the Council decide on Latvia's adoption of the euro as from 1 January 2014."

The EU said Riga satisfied the economic conditions to join -- in terms of price stability and sound public finances -- and that its national legislation was compatible with the rules of Economic and Monetary Union (EMU).