DAILY NEWS IN ENGLISH
EU fines major banks 1 billion euros over currency cartels The European Commission on Thursday fined five major banks €1.07 billion ($1.2 billion) for collusion in the foreign currency market. The fines would normally have been 10% higher, but was reduced after the banks admitted their involvement. What was revealed EU anit-trust authorities uncovered two separate cartels: Barclays, Royal Bank of Scotland, Citigroup and JPMorgan were find €811 million for trading within the "Forex — Three Way Banana Split" cartel.Barclays, RBS and MUFG Bank were fined €257 million over the "Forex-Essex Express" cartel.The cartels involved 11 currencies, including the US dollar, the British pound sterling, the euro and the Japanese yen.Activities started in 2007 and 2009 respectively and ended in 2012 and 2013 resepectively.Swiss bank UBS does not have to pay a fine as it informed the authorities of the cartels.
Several killed after roof collapse in Shanghai Mercedes-Benz dealership A building collapse in Shanghai claimed several lives after around 20 people were trapped under the rubble. Over 150 rescue workers raced to pull the survivors to safety from the former Mercedes dealership. At least five people lost their lives in downtown Shanghai after the roof of a large building caved in on Thursday. Another 14 were rescued in a massive rescue effort which involved over 150 emergency responders and 24 vehicles. The low-rise building in the residential Changning district had been used as a Mercedes-Benz dealership. The building was undergoing renovation when it collapsed at around 11:30 a.m. local time. Chinese officials did not say what the cause of the collapse was.
112/2019 • 17 MAY, 2019
Boris Johnson confirms bid for leadership of Conservative Party Heʼs the third to confirm a bid to succeed Theresa May
At a business conference in Manchester, former British Foreign Secretary Boris Johnson said that he would be standing for the leadership of the Conservative Party.
Looking beyond streaming services: What comes next? Streaming services are still viewed as the future of the music industry. But experience tells us that new things can take over more quickly than expected. What could come after streaming, DWʼs Dina Slanjankic wonders. A new album from your favorite singer has just been released, so you go the nearest music store and buy it. Well, thatʼs how it used to be. Today, youʼd more likely stay right at home and stream the whole album to your smartphone within seconds. You can access your music everywhere — at home or on the road, and it doesnʼt really cost
you much.Welcome to the modern world! A couple of years ago, the music industry seemed completely lost, with fewer and fewer people buying CDs or LPs. Revenues were in free fall, former major labels were in the red and some musicians had to look out for a second job. The industry was almost dead until the end of the last decade when a new form of music use was born — streaming, which was faster, more innovative and easier to handle. Spotify, Deezer and YouTube brought about a resurrection of the music business and are now the top market players in terms of user bases and revenues.
Emirati woman at home with her family after 27 years in a vegetative state Munira Abdulla was 32 when she was involved in a serious car accident thatleft her in a vegetative state. After 27 years in the hospital, the woman, now 60, is at home with her family in the United Arab Emirates (UAE). Her son Omar, whom she had just picked up from school when the accident happened in 1991, said although his mother had awoken from her vegeta-
tive state in May of last year, her family had decided to wait until her condition had stabilized before making the announcement on Wednesday. Omar, who was four at the time and was also injured in the accident, told reporters, "We felt we needed to share the story to give people going through the same or similar experiences hope."
Belgian former king ordered to take DNA test over alleged love child A Belgian court on Thursday ordered the countryʼs former king to pay €5,000 ($5,600) a day until he takes a DNA test to resolve whether he is the biological father of a woman who claims to be his daughter. The appeals court in Brussels ruled that King Albert II, 84, conduct the test in the presence of a justice official. The judges said Albert must start paying Delphine Boel the €5,000-per-day fine if he fails to attend the appointment. The former king said he would appeal the verdict at Belgiumʼs highest court. Boel began legal proceedings to be recognized as Albertʼs child in 2013. Her claim first gained publicity afterAlbertʼs wife, Queen Paola,claimed in a 1999 biography that he had a child with another woman while they were married. DNA tests have already shown that Boel is not the biological daughter of Jacques Boel, a member of one of Belgiumʼs richest families.
Bob Hawke: Longserving Australian prime minister dies at 89 Former Australian Prime Minister Bob Hawke died on Thursday at the age of 89. TheLabor partylawmaker gained a reputation as a transformative and charismatic lawmaker during his time in office. "The Australian people loved Bob Hawke because they knew Bob loved them, this was true to the very end," Labor leader Bill Shorten said in a statement. His second wife said the late politician "died peacefully at home." She described Hawke as a "great Australian — many would say the greatest Australian of the postwar era."
weather today BUDAPEST
8 / 18 °C Precipitation: 0 mm