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Showing posts with the label Germany

Germany: Surprise SPD resignation puts pressure on party

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One year before the general election, Social Democrat General Secretary Kevin Kühnert is resigning. The resignation comes at a critical time for Chancellor Olaf Scholz's party. Only a few people were in the know, while for most members of Chancellor Olaf Scholz's center-left Social Democratic Party (SPD) it was a surprise: Kevin Kühnert, general secretary of the SPD since December 2021, announced his resignation and also that he would not stand for reelection in his Berlin constituency in the general election next year. In a letter to party members, which was also sent to the media, 35-year-old Kühnert explained his decision by saying that he was not in good health. "The full commitment of the entire SPD is needed for an election victory," he wrote, adding that in the coming months, "enormous efforts" would be necessary "to make up for a deficit that is expressed in low poll ratings and low self-confidence." The expectations are huge, K...

Germany: Hamburg police seize 2 tons of cocaine worth €100M

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The cocaine was hidden in banana boxes stacked inside a shipping container near Hamburg's port. Police said the drug haul was the result of weeks of undercover investigation. Twelve people were arrested as police seized the drugs in a warehouse near Hamburg's port Police in the port city of Hamburg have made several arrests after seizing more than two tons of cocaine. Authorities estimate the drugs have a street value of around €100 million ($112 million). "This is an outstanding success and one of the largest seizures in an ongoing operation," Hamburg's Interior Minister Andy Grote said. Police said they found the cocaine on Wednesday afternoon when they searched a shipping container in the district of Rothenburgsort, near Hamburg's port. Inside, they allegedly found the cocaine hidden in banana boxes. How did police find the drugs? According to police, the shipping container was supposed to be driven by truck from the Altenwerder container terminal to an X-r...

Germany: Axel Springer splits media, classified businesses

Friede Springer and CEO Mathias Döpfner will own Springer's media operations, which include Germany's most-read newspaper Bild and US digital newspaper Politico German media giant Axel Springer announced on Thursday that it would split its media and classified operations, with media coming under the wing of Friede Springer and CEO Mathias Döpfner, and classifieds going to US investment firm Kohlberg Kravis Roberts (KKR.) "The new structure is intended to position all business areas optimally for future growth potential and success in their respective markets," the company said. The transaction is expected to close in the second quarter of 2025 and it is subject to regulatory approval. Axel Springer, Germany's most influential media group The company was founded by German businessman Axel Springer in 1946 in the city of Hamburg. Since then, it has grown to be Germany's most influential media group. Springer's widow, 82-year-old Friede Springer, consolidated...