Wednesday, November 30, 2016

Mnuchin and Ross: Trump appoints investment banker to mini-star – daily mirror

In the election campaign was one of the enemies of the financial elite to Donald trump’s Favorite – now of the future, the US President, of all things, a financial investor and an Ex-employee of investment Bank Goldman Sachs to Finance Minister – one of the key positions in the future Cabinet locking.

“We will pull the Wall Street accountable”, had Trump Bouncing in the election campaign. But since his election victory a lot for Trump quite different – so also his relationship to the world of Finance.

For the Post of Finance Minister to be appointed with Steven Mnuchin, a longtime Wall Street Insider. “I could not feel valued, to serve the future President,” said the 53-Year-old on Wednesday told reporters in New York full Show asked humility.

“First priority” is the implementation of trump’s tax plans, of which, according to experts, especially the super-rich are likely to benefit. Wall Street wants to lose weight Mnuchin the reins.

With Mnuchin to be entrusted with the finances of the largest economy in the world a man who was so far as hedge Fund managers, Hollywood film financier and investment banker. Government experience, he has no Trump.

Particularly spicy Mnuchins history is as an employee of the financial investor George Soros and investment house Goldman Sachs. Trump, the US had taken Bank previously violently.

Trump: “Our working class robbed”

In a choice spot attacked Trump, Goldman, and Soros is a generous party donor for the opposing Democrats – a symbol as the epitome of a “rigged system” and the cronyism between Wall Street and Washington politics, “has robbed our working class”. However, for this System, the future Minister of Finance.

Mnuchin, who was in the meantime also as a Hollywood financier, was particularly advised in the criticism, as he borrowers had the houses of more than 35,000 loans in the financial crisis, auction. As the son of a Goldman-Sachs partner and a graduate of the US ivy League Yale University, he has gone through a classic upper-class career.

As a Wall Street Insider Mnuchin, and acted already as the chief financial officer of the Trump campaign, not an isolated case in the government’s Trump. Billionaire Investor Wilbur Ross will be Minister of trade. The Private Equity specialist, is also one of the financial elite, and has amassed with his Deals a billion in assets. His business model was the redevelopment of kriselnder companies, mainly from the coal and steel industry.

There are, however, also an advocate, holding the 79-Year-old benefit to have in a state of crisis for the steel industry. The stricken workers had courted Trump in the election campaign.

it is Speculated, however, who will take up the important Post of foreign Minister in Trumps government. Furthermore, Mitt Romney for the office is traded. The Ex-presidential candidate of the Republicans, Barack Obama 2012 lost, met on Tuesday evening for talks with Trump, then he was full of praise for the incoming President.

That Trump attracts the super-rich business man whose fortune is estimated at $ 250 million, in consideration, is a further indication of how the Wind has turned to the election campaign. In March, he had been of Romney as an impostor and braggart that couldn’t do better to sell the people for stupid.

Trump had previously appointed a new Minister of transport, with a high wire to the Parliament. a (dpa)

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Historical Opec agreement: Now is the era of cheap Oil is over – THE WORLD

Totgesagte live longer. This wisdom also seems to apply to the Oil cartel Opec. For the first time in eight years, the major Oil-producing countries have agreed to your funding reduce. From 1. January to daily will only be funded to 32.5 million barrels, 1.2 million barrels less than in the past, said the President of the organization of petroleum exporting countries (Opec), the Qatari energy Minister, Mohammed bin Saleh al-Sada after a meeting of the organization in Vienna. “The market must be brought into balance.” A Barrel is 159 liters.

The Qatari energy Minister, Mohammed bin Saleh al-Sada announced the historic agreement reached in Vienna

source: REUTERS/X00316

you can Also use Russia as main oil country outside of the cartel wants to join Opec and its promotion to reduce by 300,000 barrels a day.

Totally surprising agreement, the price of Oil shoots up

The agreement has been reached for the majority of experts and the financial markets completely by surprise. According to fierce the reaction was. Brent oil shot up by almost nine per cent to over 50 dollars per Barrel in the level. The prices of US Oil WTI soared by more than ten percent.

at the same time, the currencies and bonds of oil-producing countries increased considerably. The ruble rose in price, for example, by 1.7 percent. “Opec has all taught prophets of doom better,” says Neil Wilson, a strategist with the investment house ETX Capital. “Opec is still alive and is relevant.”

Indeed, had discussed the cartel in September in Algiers, a reduction to a daily 1.1 to 1.2 million barrels. However, the agreement had been pulled the last of the Opec-members of self-doubt. In particular, with an agreement between the major producing countries Saudi Arabia and Iran, no one has expected. Until recently, the historic rival had delivered a fierce dispute over production quotas.

Saudi Arabia bears the brunt of the agreement

At the end of the Saudis even accepted that Iran will get, in spite of the overall Opec cut of a derogation and its delivery rate may continue to expand. Tehran had to go back due to the Western sanctions its production.

Actually, the Saudis to bear the brunt of the agreement. The sheikhs need to go back to their daily production amount to almost a half a Million barrel. Also, the second-largest Opec producing country in Iraq that had fought against throttling, has now committed to bring the 300,000 barrel less from the ground.

According to the agreement reached by the Opec Oil price increases. And this is only the beginning

source: infographic not flood The world

The latest agreement means only in certain ways, Overcoming historical rivalries, but also a sharp departure from the in the year 2014, on the Initiative of Saudi Arabia, initiated in strategy, the markets literally.

the price of Oil can rise in 2016 to $ 60 per barrel

in order for new competitors, in particular Fracking companies in the USA, should be out of the market. Since then, the daily promotion has been extended 13 per cent to around 34 million barrels. In particular, Saudi Arabia and Iran pumped more and more out of the ground.

In the Wake of the Oil price sank from more than a hundred dollars per Barrel in June 2014 to below $ 30 in the beginning of this year. The price decline has made it increasingly also to create the traditional oil-producing countries.

consumers could look forward to, meanwhile, is on low fuel and Heating costs. Now the era of ultra-cheap Oil, with prices of around 40 dollars over at least appears to be. The Opec has given itself an internal target of $ 55, called it from delegation circles of the negotiating partners. Oil could go up to the end of the year even to 60 dollars per barrel, predict the analysts of the Norwegian Bank DNB.

price of fuel is likely around 10 cents per litre

tightening Should keep the Bank, could increase the price of gasoline from a current average of 1.31 Euro per litre to just under 1.40 euros.

However, the reduction is limited to six months. At the next regular meeting at the end of may, the agreement should be extended.

“The Deal is for the Opec members to be very attractive,” said Goldman Sachs Analyst Jeff Curie, opposite the financial service Bloomberg. Thus, the Ölflut could be contained. First of all, the overfilled Oil would be vacated-bearing return to normal.

to be on the rise As far as the quotes, depends on two factors. To a must be, how much the countries will adhere to the new quotas.

Fracking companies are likely to deliver more Oil

In the past, many funding Nations had the Opec specifications to run again and again. It is also not clear whether the price increase brings new players to the market. For example, many Fracking could bring companies in the USA now more Oil out of the ground. Also canadian oil Sands could pay for itself economically.

in this respect, the true test is the Opec. The countries do not have to adhere to the quotas, but, where appropriate, will continue to reduce, should pump up the competition more in the future. “What has now been announced is very positive for the price of Oil and Opec,” says Giovanni Staunovo, an Analyst at UBS. “But January is still far away.”

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Donald Trump wants Steven Mnuchin as US Treasury Secretary – MIRROR ONLINE

In the election campaign raged Donald Trump on a daily basis with Wall Street. He berated bankers and traders. He is not mocked hedge Fund Manager will use that as a talent loose. He accused Goldman Sachs, “to deprive the working class”. He promised, “the swamp” – one of these Slogans, the nachjubelten his followers in chants.

And now this: trump’s designated Finance Minister Steven Mnuchin, the personalization exactly is this Wall Street is swamp.

Mnuchin, 53, is a Goldman Sachs Veteran. Later, he managed a hedge Fund that was skinning me unsuspecting investors. He scheffelte in addition, millions by putting homeowners on the street. Frequently it met the poor, the Old and minorities.

rich, distant, and ruthless

p is the man who will be in charge of the finances of the United States responsible for>The so. They call him “The Worst of Wall Street” or the “Anti-populists from hell” – exactly the opposite of Trumps Image. Better the hypocrisy of the Trump-Era hardly show.

free The resources from the System, the forgotten Americans who voted in droves for Trump, so that he may free you from your misery, be in for a surprise. As a recent Goldman-Sachs man coming in a Minister, Mnuchin is a representative of exactly this system, against which they rebelled in the presidential election: rich, caught up and ruthlessly.

As for Trump started Mnuchin everything with the father, Robert Mnuchin, was a successful Partner at Goldman Sachs. He rose to the very top, to the Management of the Wall Street Bank – and in the New York Society. He used his fortune to put in a gallery on the fine Upper East Side and in a Palace hotel in Connecticut.

The son followed in his footsteps. After studying at the Elite University Yale also Steven Mnuchin, in 1985, started working at Goldman Sachs. A total of Mnuchin’s earned $ 40 million at the investment Bank. He bought a luxury Apartment in the chic Park Avenue in a house that is well-known in New York as a “billionaire building”.

“He’s very talented,” said his then Boss, later also to the US Minister of Finance, carried Hank Paulson, the New York Times. “He has a deep understanding of Finance and markets.” Also, the current Goldman CEO Lloyd Blankfein is full of praise: “He is a clever, clever guy,” he said recently.

With the support of legendary Investor George Soros – the Trump, later, as a corrupt puppet masters, the Democrats, denounced – made Mnuchin finally, self-employed: He founded the hedge Fund Dune Capital Management, named after the sand dunes near his beach Villa in the Hamptons.

Dune is mainly due to Hollywood Deals known, the Fund financed a number of blockbuster movies, including “Avatar” and the “X-Men”series. Mnuchin was temporarily also the Co-head of the production company, Relativity Media, before they went Bankrupt.

Less glamorous, but all the more ruthless were the other shops Mnuchins. In 2009, his group of investors took over the failing IndyMac Bank. The California Bank was deeply involved in the sub-Prime mortgages scandal and the credit crisis collapses. Mnuchin paid far below their value, shifted a large part of the compensation for abgezockte house owners to the state and approved himself a seven-digit dividends.

Under the new Chairman Mnuchin, the umgetaufte OneWest Bank didn’t just lenient with your customers. On the contrary, you attracted numerous foreclosures brought by some defaulters to their existence.

The anger was so great that in October 2011, around 200 Occupy activists occupied the front yard of Mnuchins Villa in Bel Air, a posh district of Los Angeles. They fought for an employee who was threatened, although they are supervised at home their disabled mother from eviction, because she had missed a loan payment. “Steve Mnuchin and OneWest take away my dream,” she complained at the time. After all, The Bank modified the mortgage.

In the New York company, Mnuchin still as a benefactor. He is a regular guest at the great going to these fundraisers, sits in the boards of Charity organisations and was for a time Director of the famous Whitney Museum. In April of this year, Trump picked him as chief financial officer in his campaign team.

His Version of the charity may exercise the Mnuchin now at the highest point. About his political inclinations, little is known. He wanted to – what stimulate, otherwise – to the economy, he said the financial channel CNBC, Trump announced the nomination. To do this, he is aiming an economic growth rate of three to four percent. The engine will be the Trump-announced tax reform.

And who is to come, the advantage of these people leaves little doubt.

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Donald trump’s Cabinet: From the Super-speculators, to the most powerful Minister of Finance, THE WORLD

Kan official Statement, no Statement from the future President, the Chosen one announced his nomination in itself: The former Goldman Sachs Banker Steven Mnuchin announced at the television station CNBC on Wednesday morning that he was provided by Donald Trump for the office of the Minister of Finance. And the 53-Year-old used the appearance to announce the same financial political program for the next four years. He plans nothing less than the biggest upheaval in decades.

“We can have three to four percent of sustainable economic growth,” he said. To achieve this goal – in this year, the U.S. economy adds only about 1.5 percent, a corporate tax reform Central. “It will be the biggest Reform since Ronald Reagan,” says Mnuchin. Specifically, the companies are to be reduced, taxes from the current 35 percent to 15 percent. This will create many new jobs, and this would increase the revenue from the income taxes.

in Addition, he plans, however, significant tax cuts for middle income. Nevertheless, he is confident that the bill rises. “Of course it works,” he said. He relies on the so-called “dynamic scoring” – the theory that lower taxes will lead to a different behavior of the people, what drives the economy and ultimately the tax revenue increases.

similarly, had justified US President Ronald Reagan at the beginning of the 80s, his drastic tax cuts. The concept, however, was risen never, since that time, the debt of the USA increased continuously, and in increasingly larger jumps.

Mnuchin heard of Wall Street

But Mnuchin is planning even more. So he wants to loosen the regulation of the financial sector. Since the financial crisis, various new rules were introduced, which should serve to tame the industry and to reduce the risks. Specifically, Mnuchin spoke to the so-called Volcker rule and the Dodd-Frank act. Chief Paul Volcker, who developed the former – named after the former Central Bank prohibits commercial banks to Speculate in the financial markets on its own account. Also, according to the initiators named the Dodd-Frank act intensified, especially the supervision of the financial sector. This, according to Mnuchin, lead, however, that banks are lending less.

However, this was exactly also an objective of the reforms. Since the financial crisis arose mainly because the banks of a rule had to give the right credit Bonanza. By Mnuchin want to loosen these restrictions again, after he gives in to the pressure from the financial industry that earned in the past years, significantly less and the Mnuchin himself heard over the years. Because he is a part of that Establishment Wall Street, the Trump was beaten in his election campaign with contempt. “Hillary will reform Wall Street, never,” he had written at the time, for example, on Twitter, “have you heard of Wall Street.” For Mnuchin, the is however all.

He was 17 years at Goldman Sachs, the Symbol of the Wall Street-capitalism par excellence, and not only that. His father Robert was a Partner at the investment Bank, and Steven’s brother, Alan, was also an investment banker, first at Bear Stearns, then Lehman Brothers – both houses went under in the financial crisis. The family is almost one with the Wall Street.

According to the “wall street Journal” and left Steven in 2002, at the age of 39 years, Goldman Sachs, with assets of approximately $ 46 million. He began to, first with hedge Fund managers to do together. A little later he hired the Super-speculator George Soros and founded by two former Goldman Sachs colleagues in the investment company Dune Capital. There, he financed initially mainly Hollywood movies. At the height of the financial crisis, Dune took over the previous bankrupt mortgage lenders, Indymac, along with George Soros and two other masters-the speculators, the hedge Fund managers John Paulson and Chris Flowers.

For years with Trump to a friend

Dune named Indymac in OneWest and made huge profits. This brought Mnuchin and his partners in the criticism, since you cancelled on the right rowdy type of mortgage and should be enforced. Protesters moved in at the height of the Occupy Wall Street movement also in front of his 25-million-Dollar estate in Los Angeles. Mnuchin was, later on, in connection with the swindler Bernie Madoff into the twilight. Victim accused him to have shortly before the Expose of the fraud of 3.2 million dollars from Madoff’s Fund and is deducted – money really belonged to in the to distribution the insolvency mass.

What of this is true, who is right, is not always exactly clear. It is certain, however, that Mnuchin, a shrewd financial professional, the feeling on Wall Street like a fish in water and has a large network. This is likely to be an important reason why Trump trusted him with the office of the Minister of Finance, because, ultimately, wants and the future President needs the support of the bankers, even if he sounded in the campaign.

But Mnuchin connects with Trump. They are already friends for years, even if you have, in the meantime, argued in business matters even to court. But possibly the two also have similar experiences with the Public welded together. Because Mnuchins fiancée, Louise Linton, published at the beginning of the year, the book “Congo’s Shadow” in self-publishing.

in it she told of her experiences as a young girl in Africa – and was criticised for it heavily. It was a kind of “jungle story” with the attitude of a superior white master race, were the Levy. She withdrew the book. Like Trump Mnuchin could feel so, and his fiancée treated unfairly.

No fear of a price bubble

But revenge does not seem to be Mnuchins most important driving force. Rather, he seems to have a clear picture of the financial world as a pivotal point for the success of the American economy. Also, the US Central Bank is clearly a Central player. And their Boss, Janet Yellen, he praised in the Interview with CNBC specifically. “She has done a good job,” he said.

This is amazing because Trump had accused before, to keep interest rates artificially low, to prevent the Bursting of a price bubble on Wall Street, and threatened not to nominate you for another term. This Mnuchin did not want to comment now. But he said that interest rates will remain for some more years is very low. Apparently, he has no fear of a price bubble.

Somehow, it looks like the return of those forces that once were the Basis for the Almost-laid-collapse of the world financial system nearly ten years ago. Whether history is repeated or this time a better finish, it will show.

For both variants there is, however, good metaphors. Because among the Hollywood strip, the funded Mnuchin at the time, on the one hand, “The Accountant” (accountant) with Ben Affleck. But on the other hand, the movie “Suicide Squad” that ran this summer in the cinemas, to be English: suicide squad. Ask yourself, which of the two films will ultimately be as an Omen for Mnuchins time as Minister of Finance.

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Labour market – unemployment is at a record low: 2,53 million without a Job Süddeutsche.de

Directly from the dpa-news channel

Nuremberg, Germany (dpa) – were In Germany in November, so few people are unemployed for the last 25 years ago. Only in the spring of 1991, the number of unemployed had a slightly lower located. According to the data of the Federal employment Agency (BA) in November 2,532 million men and women without work.

This is 8000 less than in October and 101 000 less than a year ago, as the authority announced in Nuremberg. The unemployment rate fell by 0.1 points to 5.7 percent.

to job seekers, the training measures and vocational training courses completed, were Expecting in November nationwide, however, 3,517 people been seeking work. The were 41 000 more than a year ago, reported the Federal employment Agency chief Frank-Jürgen Weise. The rise in refugees is provided primarily; many of them are currently still in the funding rates. You are officially “looking for work” but not as “unemployed”.

Nevertheless, after a Wise evaluation of the German labour market more robust; also, the prospects are not favourable. “The number of people who contact us because of a threat of job loss continues to decline. The risk of unemployment has continued to decrease,” said the BA boss happy. Similar confident the Federal Minister of labour Andrea Nahles (SPD) assessed the current labour market situation.

way to go – contrary to the forecast of the economy and the Bank’s people, from the hosts point – in 2017, more of a slight decline in unemployment. Average for the year, he expects to 2,62 million job seekers. That would be around 70 000 jobless less than expected this year.

Not to overstate the slight lull in the job offer should be in his view. From a trend reversal could be no question. “We have such a high level of employment and psycho-logically, then, the expectation, the must continue to rise. But you have to say, this is not such a high level, as we had it,” gave way to concern.

According to the latest Figures available from September, the number of social insurance in the month fell for the first time since prolonged-seasonally adjusted-somewhat – to 6000. In total, there were in September 31.74 million regular, 411 000 more than a year ago. The number of employed persons was 43,84 million, however, only 352 000 above the level from September 2015.

the syntax does not exclude that the planned EU exit of the UK could have prompted companies to hesitate in the case of new hires. The announced foreclosure of the policies of a future US President Donald Trump will not possibly remain without consequences for the German economy, albeit with a time delay. “In the long run will have the sure effects,” said way.

meanwhile, according to the Federal Agency, “the impact of refugee migration on the labour market increasingly visible”. So 000 job-seekers were in the employment agencies and job centres in November of 406 refugees registered; 160 000 of them are counted as unemployed. The rest would still be living in courses on the life and profession in Germany prepared, and went, therefore, first of all, not in the unemployment statistics.

The number of unemployed refugees increased so that within a year’s time by more than 80 000. At the same time, around 34 000 refugees found but since December 2015 a place, like a BA Board member Raimund Becker pointed out. 268 000 would have of language since then, and vocational preparatory courses completed. More and more refugees were, in the meantime, during or after the asylum procedure of funding programmes. That is the reason why the number of unemployed refugees not getting currently so strong.

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Marlboro manufacturer: Philip Morris is considering the end of the traditional cigarette – THE WORLD

updated: 15:35 PM | Reading time: 2 minutes

Worldwide, the consumption of cigarettes, goes back for a lot of Fags are from yesterday. Now, not even the Marlboro producer is in the Tenor. In the future, Philip Morris relies on an Alternative.

DMarlboro producer Philip Morris has thought about an exit from the business with traditional cigarettes. Group chief Executive Andre Calantzopoulos said in an Interview, the expectation will prevail over the short or long term alternative forms of tobacco Smoking.

at some point, the producers could be grouped together with governments, a phasing-out period for the classic cigarette in the eye. “I hope the time will soon come,” said Calantzopoulos the British station BBC Radio 4.

in the light of the worldwide decline in cigarette consumption, and tobacco producers is becoming more and more substitute products such as E-cigarettes, in which a flavored liquid is heated. About 145 billion cigarettes were sold in 2002 in Germany, according to data from the Federal Statistical office, by 2015, only about 81 billion.

Philip Morris relies in this context on the so-called Iqos cigarette. The product is to some extent an intermediate thing between a conventional Cigarette and E-cigarette. The tobacco is not burned, but in an electronic holder only heated. Such cigarettes be sold in Germany, Japan, Italy, Switzerland and, more recently, in the United Kingdom.

researchers warn of dangers

But healthy often as a “healthy Alternative to cigarettes” – marketed products are apparently by no means. Researchers and health organizations have been warning of the dangers of flavored Liquids. “The great danger in E-cigarettes, the deep and frequent Inhalation of a chemical cocktails, and nobody knows exactly what is in it,” says Martina Pötschke-Langer of the German cancer research center (DKFZ) in Heidelberg, Germany.

are offered in different flavors, in which the Liquids, can increase the toxicity of E-cigarettes. This is the conclusion of researchers at the Roswell Park Cancer Institute in Buffalo in the U.S. state of New York.

A detailed report on Iqos cigarette, you can find here.

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Unemployment falls further in November – FAZ – Frankfurter Allgemeine Zeitung

“The labour market is developing also in November, in principle, favorable,” said labour Agency chief Frank-Jürgen Weise.

The number of unemployed in Germany has fallen to a new record low. The Federal employment Agency (BA) registered in the January to 2.53 million unemployed. The are 8000 less than in October and 101.000 less than a year ago, as the authority announced on Wednesday in Nuremberg, Germany. The unemployment rate fell by 0.1 points to 5.7 percent.

“The labour market is developing also in November, in principle, favorable,” said BA chief Frank-Jürgen Weise. The unemployment had continued to decline and the demand for new employees to move at a consistently high level. “The increase in Employment has, however, recently Stalled,” said way. A trend he does not see.

More about

The decline in the unemployment numbers in the fall, mainly due to seasonal factors: training graduates find a permanent position school leavers begin a course of study and a lot of firms after the plant holidays of new employees. In December, the winter unemployment sets in. The economy provides, according to experts, only a relatively weak shear.

the seasonal influences, the unemployment number, however, decreased in November from The previous month, it decreased by 5,000 to 2,658 million unemployed. In the West there were about 2000 job seekers, less, in the East about 3000.

gainful employment and employment subject to social insurance has grown in comparison with the previous year, although the growth according to the BA, most recently, significantly weakened. The demand for new employees remains high. In November 681.000 Vacancies were reported to the authority – to 71,000, more than a year ago.

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British banks: Royal Bank of Scotland failed in the stress test – business week

LondonIt was a new hurdle, which was built in the Bank of England in this year’s stress test. And it has brought major British banks to Stumble on their systemic importance. The overseers of the impact, the break-up of the Institute for the global financial system would take into account, and have complicated the examination of the load-carrying capacity significantly.

in The end, it was the quasi-nationalised Royal Bank of Scotland, which has done so hard, but other slats in the stress test scenario ripped. The have made the on Wednesday, the results presented clearly. The Bank, which is 73 percent owned by the state, must now raise at least two billion pounds (the equivalent of 2.35 billion euros) in additional capital.

Also, Barclays and Standard Chartered have revealed weaknesses in the stress test of the Bank of England, the claim was this Time much more than in the past two years. In the case of Barclays, the so-called systemic reference point, caused the Bank’s difficulties, it was. However, in this case, and also in the case of Standard Chartered, the previous plans of the money houses, sufficient in the opinion of the Supervisory authority, to strengthen the capital buffer to a sufficient extent.

The banks do not need to load in contrast to RBS, in order to meet the claims of the Bank of England. In the case of Barclays, the project, step by step from Africa to withdraw, and the business there to get rid of, should contribute to the improvement of the situation.

The Central Bank has also tested the resilience of the Lloyds Banking Group, HSBC, the British arm of the Spanish Santander Bank, as well as the real estate Bank Nationwide. These institutions have passed the Test.

All institutions had to have in the tested scenario, capital in the amount of 4.5 percent of their risk-weighted Assets and an additional capital buffer, the size of the specific risks. The scenario of the crisis saw a massive downturn in China and Hong Kong, a decline in global growth and a fall in British property prices by about a third in five years. The consequences of the UK leaving the EU, which is expected to come in 2019, were not part of the stress test, which was designed in the spring of this year.


RBS has more problems

The ailing RBS is also part of the stress test of the European banking authority Eba in the middle of this year, the major losers. The Bank is also fighting eight years after the outbreak of the financial crisis, with expensive Altsünden. As expected high penalty payments in a dispute to dubious US mortgage papers to come to the money house. The RBS has to sell their private clients division, Williams & Glyn.

This is a requirement by the EU for billions in state aid, with which the Institute was preserved in the crisis before the collapse. The Bank has presented on the night to Wednesday, the British Bank supervision with their revised plans to further raise capital. The RBS want to reduce, among other things, to a greater extent than in the past, non-performing loans and reduce their costs.

Britain’s banks have cut off this year in the stress test worse than expected. The benefits are worse down than predicted, said KPMG banking expert Steven Hall of the news Agency Bloomberg. Bernstein Analyst Chirantan Barua sees, especially in view of the massive weaknesses of the RBS currently no light at the end of the tunnel for the Bank. The Institute will remain a construction site and there for at least the next twelve months, there are no prospects that the RBS will pay dividends, writes Barua, in a study he published after the publication of the stress test results.

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Tuesday, November 29, 2016

Strike continues: the Lufthansa 890 flights from fall – FAZ – Frankfurter Allgemeine Zeitung

Many of the machines remain on the ground again.

pilots at Lufthansa to resume their strike this Wednesday. “Of the 890 canceled flights, around 98,000 passengers are affected,” said a spokesman for the company in the early Morning. A special flight plan to mitigate the impact of the labour dispute at Germany’s largest airline. The plane of the subsidiaries Eurowings and Germanwings lift as planned.

be To the current flight information Lufthansa

for More strikes with a lead time of 24 hours is possible at any time, warned a spokesman of the pilot Union Vereinigung Cockpit (VC). The duration of the conflict revolves mainly about the money. Lufthansa and Cockpit arguing for years the salaries of approximately 5400 pilots of Lufthansa, Lufthansa Cargo and Germanwings.

Due to the ongoing pilots ‘ strike, coves last appears to have significantly less people to flights with Lufthansa. The capacity utilisation in spite of the strikes, carried out long-haul flights was significantly decreased, according to the “Bild”newspaper with reference to a Letter from the pilot Association Cockpit to the own members. The utilization of some less than ten percent. In addition, there is, according to the Letter of feedback from the Lufthansa Management, according to which the decline in bookings, “clearly noticeable”.

The company incurred by the newspaper report says that due to the strike, in the meantime, costs in the amount of around 15 million euros a day. The past week started recusal have caused already a cost of around 75 million euros. From the Cockpit-circles have also given warnings that the strike could end at Lufthansa in December. The pilots might occur in the case of Germanwings in the walkout.

More about

Meanwhile, the EU Commission has called on Lufthansa to come to a quick agreement and prior to negative consequences for the European economy warned. To strike “the right is a fundamental right of workers in the European Union. There can be no doubt,” said EU Commissioner for Transport Violeta Bulc to the newspaper “The world”. They appealed, but at the same time to all Parties to behave “constructively” to find a solution. Bulc warned of high costs for the economy. “The actors in the aviation sector are so closely intertwined that the behavior of individual national interest groups can lead to significant costs for all parties Involved in Europe,” said the Commissioner for Transport. “This can’t go any further, we need to work together on a solution.”

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What needs to happen after the attack on the Router? – tagesschau.de

product liability, for “Chinese cheap art”, seal of approval – after the spectacular attack on almost a Million Router discusses the policy consequences. Further attacks threatened. And not always so amateurish will be like in this Time.

After the massive hack attack on the Router of Deutsche Telekom, with nearly a Million Concerned politicians are calling for consequences. The SPD demanded a liability for companies, so that this known security vulnerabilities. “I think we also need to introduce in IT products, a product liability, the economy will be stronger in the duty to take,” said SPD parliamentary leader Thomas Oppermann. This applies particularly, if a Router was for its vulnerability to be known. The network policy group spokesman Lars Klingbeil said the news Agency Reuters, with a product liability had to be achieved, that the economy take on more responsibility and the pressure will increase to close security gaps.

interior Minister Thomas de maizière (CDU) announced discussions on whether the applicable liability rules clearer would have to be taken, but did not provide any Details.

The network policy spokesman of the Unionfraktionssprecer Thomas Jarzombek told Reuters, “Chinese cheap art" had to get out of the telecommunications. In Germany excellent Router would built, to use the Telekom only This also applies to other components in the network: “We are currently experiencing a loss of control and must be stopped.” He pleaded for a right of return for specific IT products, which could be ten years. The manufacturer knows how long he products, for example, new Software needs to maintain.



BSI wants to seal of approval

The BSI called for tougher security standards in the Internet of things. “The more networked the world is, and the more General mass-market products such as routers are used around the world identical in the network, the more vulnerable our power infrastructure,” said BSI President Arne Schönbohm of the “world”. He also pleaded for the safety seal of approval, especially for a DSL Router of Asian providers, such as Arcadyan – the company is considered the manufacturer of the “Speedport”Router. With a commitment from the manufacturer, quickly and regularly, and firmware updates can improve security.

Schönbohm said, he assume that it was in the attack to organized crime. There is much to indicate that it was attacks of the so-called Mirai network, he said the Newspapers of the Funke media group. The network has been compiled from a large number of manipulated devices – for example, poorly secured routers, Webcams, and digital video recorders.

Bumbling attack

stands behind yesterday’s attacks, is unknown. Many experts believe that such attacks in General, is impossible to trace with absolute certainty a trail that leads clearly to the attacker. It seems clear, however, that the attack has been done by the bungling of the attacker even more damage. The malicious software would have been programmed better, it would have been the consequences of the attack much worse, said a Telekom spokesperson in .

In the current case, had passed a rule, a reboot of the Router to make it operational again.

With Mirai related

After the first analysis is related to the injected malicious code with the well-known Botnet Code of Mirai, said the IT security company Kaspersky Lab. Goal was probably to connect the Router with a botnet, Online Criminals are usually for their own purposes, such as extortion, sending Spam or targeted attacks on other computers.

said Stefan Ortloff of Kaspersky, has received the malicious code through a security hole in the Router. But, the Software seemed not to have been able to write itself in the file system. Therefore, they have not survived a reboot. Otherwise, the attack would have remained completely unnoticed, said Ammar Alkasar, IT security expert at Rohde & Schwarz Cybersecurity. Usually such botnets would be constructed and then put to sleep. After a while, they would be used, depending on the Intention of political or simply criminal purposes.

The malicious software Mirai’s security experts are already known. Their specialty is to infiltrate, preferably in consumer devices such as routers or other private use of networked electronics to hijack and make it the part of a remote-controlled network. Last Criminal Mirai had offered to botnets with almost half a Million of connected devices in the network to the rent, like last week, the specialist portal “heise online” reported.

reported On this topic tagesschau24 on 29. November 2016 to 17:00.

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E-mobility: the German car manufacturer will build a charging network for electric cars – daily mirror

Almost all of the large German car manufacturer and the US company Ford, have agreed on the construction of 400 quick-charging stations for electric cars. BMW, Daimler, Ford and Volkswagen brands Audi and Porsche signed a corresponding Memorandum of understanding for the establishment of a joint venture, all equally involved. This is the car maker announced on Tuesday together. Not with the Volkswagen-core brand, VW, and Opel. With the construction of the ultra-fast charging stations on motorways and Express roads is to be started in the first quarter of 2017. The community project, which aims to boost the sluggish demand for E-cars in Germany, were complicated negotiations.

The car manufacturers are under significant pressure, because they have to meet after 2020, stricter emission standards in Europe. Without a significant proportion of electric cars in the new cars sales in the EU Commission’s mandatory CO2 limits are not to create. It is a high penalty payments.

how Much the manufacturer will invest is open

The network of publicly-accessible, super-fast charging points, with a load capacity of up to 350 kilowatts, are expected to grow by 2020 to a few thousand columns. The charging network will be based on the Combined Charging System (CCS), to create according to the will of the German automotive corporations in Europe, the basis for a uniform plug-in connection. Vehicles with a serial CCS connection, however, there is still.

How much the manufacturer will invest in building the infrastructure, is open. The aim of the project is to make electric mobility more attractive, because E-cars will in the future be charged within a few minutes and as long distances. Currently, electric cars with a range of not more than 200 kilometers, on the market. The manufacturers have announced that vehicles with greater range.

The expansion plans of the new consortium to run parallel to the projects of the Federal Minister of transport Alexander Dobrindt (CSU), 400 fast-charging stations for electric vehicles at motorway rest areas. To improve the charging infrastructure, the Federal government provides 300 million euros until 2020, two – thirds of fast-charging stations. The auto makers follow the example of the E-car pioneer Tesla, which operates worldwide, more than 700 charging stations to nearly 5000 of each of the Charging stations.

“A wide and high-performance charging infrastructure for the success of electro-mobility,” said Matthias Wissmann, President of the car Federation VDA. “The breakthrough of E-mobility requires mainly two things: compelling vehicles and an area-wide charging infrastructure,” said Daimler chief Dieter Zetsche. BMW CEO Harald Krüger said it was a “significant milestone”.

auto companies download

at the end of October, around 30,000 purely electric-powered vehicles were on German roads. Added to that were some ten thousand to the wall outlet, rechargeable Plug-in Hybrids, which have in parallel with a combustion engine on Board, but when electric cars will be counted.

The statistics shows that electric mobility is given of a vehicle population of 40 million cars is still a marginal phenomenon in Germany. Since may, entitled state purchasing premium (“environment bonus”) in the amount of 4000 Euro (private buyer) per E-car has not changed anything. Just 5800 premiums were paid until the end of October by the Federal office of Economics and export control – 123, at E-car-buyer from Berlin. The funding pot is enough, theoretically, for 400 000 electric cars. A Million should be approved in less than five years, according to the will of the Federal government in this country. 2020 is also the year apply of the to stricter CO2 targets for gasoline and Diesel in the EU. Time is of the essence, therefore, want to risk the German manufacturer of large and high-powered sedans with no high penalty payments.

With the sobering interim balance sheet and wants to make the car industry now closing. The on Tuesday announced a Joint-Venture between BMW, Daimler, Ford, Porsche, and Audi for the construction of 400 quick-charging stations along the main traffic arteries in Europe is to help to establish electric mobility “in the mass market”. The lack of infrastructure and the fear of many motorists to remain with an empty battery on route, are considered to be the biggest hurdles for the enforcement of the clean drives. In addition to the high purchase price of electric vehicles.

Recharge it for the long haul

“We shall ensure that our customers can also charge to cover long distances with your electric car,” said a Daimler spokeswoman on Tuesday. The companies are not interested in an exclusive island solution, offering, for example, the US manufacturer Tesla to its customers. “We just come up with something to the Community to your destination. We are open to all." Talks on an extension to the planned Joint Ventures would be managed, including from foreign manufacturers. “You know,” said Daimler spokeswoman.

How remarkable it is that the companies act now, together, so many open questions. To the amount of their Investments, the companies were silent on Tuesday, as well as to the question of whether or not you will benefit from state funding. Because the Federal government wants to spend 300 million euros for the construction of 400 charging stations, two-thirds of which is for fast charging stations. “Promotion is our goal,” said Daimler spokeswoman. It was clear, however, that the project must not be a subsidy business. “We see this as an Investment and do not have the electricity for free.” Also, Tesla stopped the Free supply of electricity, and invites new customers in the future for the Fund.

Not is also decided who will build the charging stations (including peripherals), operated and supplied with power. The energy suppliers have not engaged so far in the construction of the infrastructure, because there is no business model in sight. Now the car companies go on the Offensive. So the infrastructure should be put out to tender and the construction of national and regional electricity suppliers are awarded. “There’s still some discussions lead to,” it says.

load, so Far, only 150 of the quick points

at mid-year, the German Association of energy and water industries (BDEW), counted nationwide in just 6500 individual load points (around 2600 columns) – set up by local authorities and energy suppliers, but in the meantime also by supermarket chains. According to the auto Association VDA, there are in addition, but only 150 fast-charging points. The 000 conventional tanker to stations in Germany, with a correspondingly larger number of pumps are about 14. “The car manufacturers not do well to rely on power companies and government,” says Ferdinand Dudenhöffer from the CAR-Institute.

“So that E-cars are in the future for longer journeys, there has to be, especially on highways fast enough charging stations,” said VDA President Matthias Wissmann. Due to the lack of range especially in the city transport was considered the preferred location for electric cars. The highest density of charging points can be found in major cities such as Berlin (530 charging points/260 columns) and Hamburg.

The German car maker does not want to herzufahren stand out also in the case of the performance of Tesla, to create the impression, behind the US competitors. Instead of the 120 kilowatts of power charging, the Tesla offers, will offer their charging stations to 350 kW. In order for E-car should be able to charge batteries in only a few minutes to 80 percent. To a normal socket that takes up to eight hours. In addition, the auto companies put on the in Europe as a Standard thought CCS plug. This allows Charging with direct and alternating current and is equipped with various systems compatible. “This is an important step,” says Dudenhöffer. But: “it’s a Pity that it happened so late.” a (dpa)

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Linde industrial gases-manufacturer: Praxair with a new push-Fusion – Handelsblatt

Linde Group

Linde and Praxair to go a new attempt to the merger.

(photo: Reuters)

Frankfurt, The US industrial gases producer Praxair takes an Insider, according to a new start-up to merger with German rival Linde. The Americans would have appealed in the past week, again in the Munich-based company and relief requested, enter into negotiations, said the situation Person familiar with the Reuters news Agency. The Insider said that Linde had not so far responded to the initiative.

The discussions on the mega merger had burst in September, surprisingly, because both sides could not agree on key issues, such as the company’s headquarters, development sites and Management personnel.

the push by The Americans for Linde untimely. CEO Wolfgang Büchele announced after the Failure of the merger to its withdrawal. He wants to assign at the end of April, Linde has prescribed but previously a tough austerity course. The group aims to reduce annual costs by 2019, around 550 million euros. According to experts, this could cost 3000 to 4000.

Linde wants a merger back to the top

A re-turn, the employee could annoy representatives on the Supervisory Board. Another Insider said a resumption of talks would only be conceivable if Praxair gave up his hard stance to the disputed points.

Linde wanted to gases due to the merger back to the top in the market industry. The Munich-based goods through the Acquisition of Airgas by the French company Air Liquide in place slipped. The gases industry is globally consolidated. After a merger of Praxiar and Linde are only three major suppliers would remain. A sticking point would be at such a step, therefore, the approval of the competition authorities.

The world’s largest industrial gases companies

  • The French were with the purchase of the US competitors are Airgas recently the largest industrial gases companies in the world.

    revenue: 21.2 billion Euro.

    profit: 1.8 billion euros (Airgas)

    market presence: 80 countries

    employees: 68.000

    headquarters: Paris

  • sales: 18 billion Euro.

    profit: 1.15 billion Euro.

    market presence: 100 countries

    employees: 64,500 respectively

    headquarters: Munich

  • sales revenue: 10.8 billion dollars (9.6 billion euros)

    profit: 1.68 billion dollars (1.5 billion euros)

    market presence: 50 countries

    employees: 26.000

    headquarters: Danbury, Connecticut

  • sales: 9.9 billion dollars (8.8 billion euros)

    profit: 1.43 billion dollars (1.3 billion euros)

    market presence: 50 countries

    employees. 19.000

    headquarters: Allentown, Pennsylvania

Praxair and Linde were on the stock market of almost the same value, as the merger plans in the summer had become noised. Since then, Praxair has developed-share better than the Linde paper. Praxair comes at a market value of nearly $ 34 billion (€31.8 billion), Linde to 27.9 billion euros. The Americans are almost ten billion euros in turnover, only half as big as Linde, Praxair, however, is much more profitable. On the New York stock exchange, Praxair increased on Tuesday just under two per cent, Linde won in Frankfurt’s late trading 3.7 percent.

porter had given the end of October, that the Failure of the merger to be the Central trigger for his departure. “It was my Vision to create the number 1 on the Merger. Now this is a different game, and that is not my priority,” he said. According to insiders the chief financial officer Georg Denoke had worked behind the Scenes against the merger with Praxair. He had to go.

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Internet: Nahles wants to loosen in the face of the digitization of working time arrangements in THE WORLD

updated: 15:59 PM read | write duration: 3 minutes

Tablets in use at work

source: dpa/AFP/archive

the Minister suggests in the white paper “choice of hours of work act” to

Bundesarbeitsministerin Andrea Nahles (SPD) wants to loosen in the face of the increasing digitalisation of the working time regulations in Germany. In your on Tuesday submitted a “white paper 4.0″ Work, the Minister suggested a “choice of hours of work act”, is intended to give employees more options in working hours and place. Their concept also includes an employment account, the newcomers should get. The German Confederation of trade unions (DGB) welcomed the advance; but there was also criticism.

be limited to The choice of the working time act according to the ideas of Nahles first two years. Permits with conditions provided and limited derogation from the currently existing provisions of the law on Working hours to maximum daily working time and rest time, should be stated in the white paper. However, a collective agreement had to allow for this Opening.

workers should be able to choose according to the proposal, under certain conditions, the duration of their working time. You should receive a discussion of law in relation to the location of the working time, even if you do not want to reduce – and to the place of work.

“The More flexibility must be addressed in the implementation of new property rights”, invited the Minister in the Text. This could mean, for example, that a maximum of two times in excess of the statutory maximum daily working time must not result in ten hours Exceeding the maximum average working week of 48 hours and no later than the following week a free working day had to follow. “Another Option would be a right to a home office with a free choice of the place of Work”, – stated in the white paper.

It will always be normal””, the working hours of life situations and life phases, said Nahles at the final conference for discussion of the white paper, according to the speech text. “Working time differentiation, this is a clear Trend,” added the Minister. “A So-and-So-much-hours-week for all of us today is not the issue.”

This personal employment account shall be equipped according to the wishes of Nahles with a starting balance. Thus, the loss of income should be able to be worn – in case of qualification or entrepreneurship, for example, part-time-phase or time-outs.

The DGB Chairman Reiner Hoffmann said in Berlin, Nahles set with the white paper on the right priorities. With a view to the major changes due to the digitization should be the ultimate goal, “the workers keep fit for the challenges of the future”. The strengthening of collective bargaining and the Expansion of data protection for Employees is of Central importance.

The Greens accused the Minister, on the other hand, you stay to vague. “There is a clear political Agenda for the implementation of the proposals”, said the labour market expert Brigitte Pothmer.

The Left front threw Nahles, a “softening” of the law on Working hours. “More and more people are times through excessive working and the constant stress at work sick,” said group Vice Klaus Ernst. And Nahles “wants to abolish the Eight-hour day in a field experiment”. It was “absurd”.

The white paper on the Internet.

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Work 4.0: the experiments of The woman Nahles – daily mirror

Andrea Nahles always thought that the German companies are well organized. That was always your good reputation abroad: The planned, Orderly. After the Minister of labour visited for months, establishments, experts, and opinions read had discussed, no longer thinks so. “The structures are much too rigid and Patriarchal,” she said on Tuesday, as she presented the white paper to Work on 4.0 and on the management culture of the language.

The SPD politician wants to make Germany fit for the digital upheavals of this time. 3D printers are not “technical spinning mills more”, but a reality. What warns you is the prophecy of the end of the work. Already in 1978, the “mirror, have headline” “The Computer Revolution: progress unemployed”. Instead of to fear, politics, business and social partners in the shaping of what is happening, and the people declare. “We have to take the Chance on a century of progress,” said Nahles.

training is enormous, there are important

in the world of work, which will always be technological to, is a “right to training” one of your goals. The Federal Agency for employment should in the future also advise Employees at the time of qualification. If the risk is increasing in the future, that Knowledge is out-of-date, and life-long Learning a necessity, had to be the unemployment insurance to employment insurance.

in addition, the self-employed should be given a duty to the statutory pension insurance. Digital platforms – a provider of apartments or travel services are becoming more and more powerful. Only you employ often, Solo-self-employed persons who are not covered by social security.

more Flexible is to Work tried

another focus of the topic of flexible working. Nahles suggests a “choice of hours of work act”, to provide employees with more options for working time and place. In a two-year trial period, the employer and the employee should be able to, in large and small companies, a number of Alternatives to Eight-hour-day and test agree. Possible breaks for child care, the home office in the evening or the end of the work beyond the statutory scheme. “I trust the women,” she said. “Not only here, they are the driving force.”

For the pilot project wants to let Nahles in the German Cabinet, an experimental clause, to say goodbye. At the same time, Nahles makes it clear: rest periods are more necessary! It’s just getting “normal”, will adjust the working time to certain phases of life, she said. “Working time differentiation, this is a clear Trend. A So-and-So-much-hours-week for all of us today is not the issue." The white paper also speaks of a right to a home office. Employer President Ingo Kramer holds the modernisation of the working time regulations in the light of the digital Revolution for long overdue. A Reform of the law on Working hours was in the “interest of the company and as regards the compatibility of family and profession of the workers”.

Close Alternative to a basic income

Nahles, a personal acquisition is also in favour of operating account with a starting balance. Instead of an unconditional basic income has been discussed for a long time and tested. All citizens should be at the Start of the work a personal and working life will receive active account with a starting balance. This wage should be failures in training, start-up, part-time-phase or time-outs are compensated. The employer’s President objected to on the stage quite quickly. Nahles would not say where the money should come from for a working account. “It is not important that something impacted the next Generation,” said Kramer.

From the trade Union point of view, said DGB chief Reiner Hoffmann, Nahles set with white paper on the right priorities. It is, however, that the employees could use the game rooms also. A “Work-4.0-law,” said Nahles, won’t submit. Have shown the debate of the past few months, but how different the demands and needs of tomorrow.

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Attack on Telecom: Mirai – the fire-dangerous tool for mass attacks … – THE WORLD

“Mirai” is the name of the malware that keeps security experts around the world for weeks. In September, she was the technical base for attacks on the websites of security researchers, in October, they served large portions of the Internet address management in the USA and Europe are lame. Now it is the vehicle for the attack, the customers from the Internet, shot in the past two days, the DSL Router 900,000 Telekom.

Mirai is the tool of the Telekom-Router-Hacker – who used the Software, is unknown. German Chancellor Angela Merkel even declared on Tuesday at a press conference in Berlin: “I have no knowledge of the origin of the attacks on the Telekom network.” Also, the Federal office for information security (BSI ) has no new evidence on the origin of the perpetrators.



“include attacks such as in the case of Telekom, today, for everyday life”

In the network of Telekom have, at times, been almost a Million connections Lahm – probably by a global Hacker attack. The Chancellor says that we should not let them irritate.

source: The world

This is not surprising, because Mirai is a tool that can be used for any reasonably talented Hacker. The original programmer of the malware originate in all probability from Russia. This is known as in the source code of the program snippets emergence of the Russian language. According to an analysis by security researchers of US-provider Incapsula, the Mirai programmer profess your Lust for Chicken Nuggets. This suggests that the Mirai was built by young people because of the secret service professionals.

A kind of Blank-attack tool

But since the beginning of October, the Code of the malicious software is available as a free Download. The Mirai-programmers are blurring, thus, their tracks, because now, potentially, any moderately talented Hacker may build his own cyber weapon attacks can no longer simply assign.

Mirai is a modular system – a kind of Blank-attack tools for mass attacks on the Internet. The Software is designed to devices in the Internet of things to attack and take control of you. At the end of September, an unknown Hacker used the tool for the first time on a larger scale, to take control of hundreds of thousands of IP cameras from the Chinese manufacturer XiongMai and to summarize the devices of a Zombie network, called a botnet, together. Since then, the tool served as a vehicle for attacks.

In the case of the attack on the Telekom Router has been modified to Mirai so that the Software exploited a vulnerability in the remote maintenance interface of the Telekom. This was only possible due to the perpetrators have not managed to install their malicious software on the Telecom routers. According to an analysis by security researchers from Symantec, restarting the Router is enough to delete the Software from the memory of the devices, then users can install a security update.



hackers for massive interference to be responsible

A nationwide router fault has been fixed and Internet connections the Telekom paralyzed. Around 900,000 customers are affected. The company suspects the attack of a hacker.

source: The world/ Peter Haentjes

However, although the perpetrators made this error were not Amateurs at work, says of the IT-forensics, Uwe Kissmann from Accenture: “This attack was directed against millions of routers worldwide, the Telecom customers were only the most prominent victims. An attack of this size to have the offender access to their own infrastructure. Probably they used a smaller botnet from tens of thousands of devices, in order to spread their malicious software. Such botnets, however, it is now on hacker forums as a service by the hour to rent." But the origin of the Telekom will remain the attack for the time being in the dark.

Telekom groping more in the dark

Since more than 500,000 users of a critical infrastructure is, as such, the DSL network of the telecommunications of the attack were affected, you must now take IT experts of the Federal criminal police office together with the security researchers from the German Federal office for security in information technology the investigation.

as before, the Telekom in the dark in the identification of the perpetrator. “We don’t know it simply,” said a spokesman. Currently, the group is considering a criminal complaint against Unknown. Also, Hesse’s justice Minister Eva Kühne-Hörmann calls for the need to proceed swiftly. “This attack is in need of a quick legal answer. The perpetrators must know that such actions and, in particular, the related preparatory acts are punishable," she said. In addition, the law enforcement needed to be strengthened authorities for the fight against Internet crime. These intervention options, which are the latest technical development.

The Minister of justice is pushing for a fast implementation of the Hessian-botnet Initiative, a proposal to the Federal government and the Bundestag. The bill would make the hijack computers of unsuspecting users as the “digital trespass” under penalty.

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Deutsche-Telekom-fault: Hack could have been much worse – MIRROR ONLINE

The hacker’s attack, has placed since Sunday, hundreds of thousands of routers in the network of Telekom lame, is probably a bust. Apparently, only a programming error in the malicious software, which should be introduced to the devices to the default.

rather than, as apparently intended, just on the devices to implant, crashed the malicious software or causing the software problems on the affected routers. For the concerned Telecom customer that was annoying, because her power was lame access suddenly from no apparent reasons or failed.

The Alternative, however, could have been worse. The attack would have succeeded, would have put the attacker at a stroke, almost a Million Router under your control. Enough, anyway, to weave a powerful Botnet, which would, in turn, can be used for attacks on the Internet used to be.

the following three router models:

  • speedport W 921V
  • speedport W 723V type B
  • speedport W 921 Fiber

are Affected, according to Telekom, The devices can be manufactured by the Taiwanese router manufacturer Arcadyan for the Telekom. The company produces Internet router also for other German and international providers. Apparently, all three models have in common that their remote maintenance function was protected by a default password.

attack on Port 7547

Exactly the tried, the attackers seem to take advantage of. You search the web specifically for routers, where the so-called remote maintenance sports 7547 is accessible. Normally, this virtual connection is used for example by Internet service providers to configure the Router of the customer from the distance. The Internet Storm Center, according to the special search engine Shodan, around 41 million of the devices in the network to find where the Port 7547 is open.

among these millions of devices in question three of the router models in the Telecom – and not only since yesterday. A Telecom had a customer pointed out already in 2014, the Telekom Forum on the weak point, you as a “relevant vulnerability” and asked to plug the gap through an Update.

the Mirai-Botnet

the IT security company Kaspersky Lab reports the attack on the Telekom-Router way of the typical characteristics that indicate the Mirai Botnet. Botnets are used, for example, to overload sites by a large number of simultaneous requests to the Server, and to throw out of the network. The technical term is called Distributed Denial of Service, DDoS.

Traditionally compiled such Botnets from computers which have been infected by Criminals with malicious software, the a home allows for remote control of the computer. The Mirai Botnet, however, is not compiled from traditional PC, but from devices that are associated with the Internet of things. It can controls, to surveillance cameras, baby monitors, networked light or a Router to act.

In the attack on the weekend was copied from the Mirai on the Telekom Router injected malicious software into the RAM and then the executable file, so to speak, your own program code, the memory deleted, Kaspersky Lab. This probably happened to the traces.

that’s Why it helps to have a restart

this function can also explain why the Router worked first, and again, if you separated them briefly from the power supply and the memory cleared. Since the attack during the meantime, however, more likely to have been infected many devices again.

Was the pest in the memory is active, he closed the Port 7547, he had gained entry and searched the net then to the other devices on this Port was open. Once the search was successful, copy the malicious software to the new device. Somewhere in this process it seems to have a Problem in the programming. Instead of waiting in the Background to the new commands, the malware is blocked, apparently, router functions, which led to the failure or the network connection at least slowed down.

the Telekom provides The described possibility of malicious software implants itself and continues to spread, is to be prevented by an Update for the Router wide. A tutorial on how to make the Update automatically install or to manually install can download, provided by the Telekom on their help pages. Telecom users who use one of the above Router, it should commit immediately.

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Deutsche-Telekom-fault: Hack could have been much worse – MIRROR ONLINE

The hacker’s attack, has placed since Sunday, hundreds of thousands of routers in the network of Telekom lame, is probably a bust. Apparently, only a programming error in the malicious software, which should be introduced to the devices to the default.

rather than, as apparently intended, just on the devices to implant, crashed the malicious software or causing the software problems on the affected routers. For the concerned Telecom customer that was annoying, because her power was lame access suddenly from no apparent reasons or failed.

The Alternative, however, could have been worse. The attack would have succeeded, would have put the attacker at a stroke, almost a Million Router under your control. Enough, anyway, to weave a powerful Botnet, which would, in turn, can be used for attacks on the Internet used to be.

the following three router models:

  • speedport W 921V
  • speedport W 723V type B
  • speedport W 921 Fiber

are Affected, according to Telekom, The devices can be manufactured by the Taiwanese router manufacturer Arcadyan for the Telekom. The company produces Internet router also for other German and international providers. Apparently, all three models have in common that their remote maintenance function was protected by a default password.

attack on Port 7547

Exactly the tried, the attackers seem to take advantage of. You search the web specifically for routers, where the so-called remote maintenance sports 7547 is accessible. Normally, this virtual connection is used for example by Internet service providers to configure the Router of the customer from the distance. The Internet Storm Center, according to the special search engine Shodan, around 41 million of the devices in the network to find where the Port 7547 is open.

among these millions of devices in question three of the router models in the Telecom – and not only since yesterday. A Telecom had a customer pointed out already in 2014, the Telekom Forum on the weak point, you as a “relevant vulnerability” and asked to plug the gap through an Update.

the Mirai-Botnet

the IT security company Kaspersky Lab reports the attack on the Telekom-Router way of the typical characteristics that indicate the Mirai Botnet. Botnets are used, for example, to overload sites by a large number of simultaneous requests to the Server, and to throw out of the network. The technical term is called Distributed Denial of Service, DDoS.

Traditionally compiled such Botnets from computers which have been infected by Criminals with malicious software, the a home allows for remote control of the computer. The Mirai Botnet, however, is not compiled from traditional PC, but from devices that are associated with the Internet of things. It can controls, to surveillance cameras, baby monitors, networked light or a Router to act.

In the attack on the weekend was copied from the Mirai on the Telekom Router injected malicious software into the RAM and then the executable file, so to speak, your own program code, the memory deleted, Kaspersky Lab. This probably happened to the traces.

that’s Why it helps to have a restart

this function can also explain why the Router worked first, and again, if you separated them briefly from the power supply and the memory cleared. Since the attack during the meantime, however, more likely to have been infected many devices again.

Was the pest in the memory is active, he closed the Port 7547, he had gained entry and searched the net then to the other devices on this Port was open. Once the search was successful, copy the malicious software to the new device. Somewhere in this process it seems to have a Problem in the programming. Instead of waiting in the Background to the new commands, the malware is blocked, apparently, router functions, which led to the failure or the network connection at least slowed down.

the Telekom provides The described possibility of malicious software implants itself and continues to spread, is to be prevented by an Update for the Router wide. A tutorial on how to make the Update automatically install or to manually install can download, provided by the Telekom on their help pages. Telecom users who use one of the above Router, it should commit immediately.

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Cyber attack on Telecom, THE WORLD

Die Deutsche Telekom, the mass failure of routers to adhere to since the weekend, the suspicion of a hacker attack. “We expect an influence from the outside,” said a spokesman for the company. According to the first analysis of the Federal office for information security (BSI) have made a mistake, the attacker this Time – the Speedport Router crashed, a malicious software was not able to install the culprit, however. “This Time we were lucky, the attack did not work properly,” said BSI President Arne Schönbohm of the “world”.

Since Sunday morning, the Bonn-based telecommunications recorded a consolidated nationwide problems with its DSL connections. More than 900,000 of the approximately 20 million fixed line customers are concerned, you can’t use your connection: to anyone Who has booked at the Telekom one of the Magenta-complete offers, could make phone calls in the past two days in part, nor surf the Internet, or television – these applications are in current Telecom DSL connections are all combined and run on the Speedport Router Telekom.

The Telecom self-reported on Monday that it had identified various speed port models as the cause of the problems. While the DSL network infrastructure, Telekom is working properly, the Router on the customer side, some completely crazy: “There is no clear error image: Some experience intermittent restrictions or very strong fluctuations in the quality, but there are also customers who currently goes nothing,” said a Telekom spokesman.

an error detector sites in the network, it became clear: The outages are not bound to certain places or types of Line, but across the country distributed. Common denominator just the speedport Router Telekom, which the group rented out to its DSL customers. Therefore, the group is suspected of a hacker attack on the device: “as a result of the error image is not excluded that on Router a targeted influence from the outside was taken, with the result that they can no longer log in to the network,” said a spokesman for the group.

On Monday, evidence that the unknown perpetrator could use the remote maintenance interface of the speedport devices for attacks compressed. Accordingly, the Telekom-Router, only the most prominent victim of the global attack on a DSL Router that share a common weak point. CERT-Bund Computer emergency response team at the Federal office for information security (BSI), released on Monday afternoon via the short message service Twitter is a network-analysis – and- eye scan addresses unknown perpetrator since the night of Saturday to Sunday, the world a million times DSL connections to an open network port number 7547. This Port is typically used for the remote maintenance interface, TR-069 and TR-064. Through this interface, the telecommunication provider such as Telekom can make to the ongoing operation, Changes to the Router or Software Updates remote control command.

But in the past four years, had already been attacked on several occasions Router on this interface from hackers – 2012, for instance, has several Router models, the customers of Telefonica O2 target of attacks. The Telekom is not the speedport devices themselves, but to purchase so-called OEM devices, which are individualized by Asian manufacturers such as Arcadyan or Huawei for the German market with the Telecom brand.

The exploited vulnerability found security researchers are already on 8. November. At that time, they discovered a vulnerability in the remote maintenance Protocol of various OEM devices, and published this in the vulnerability database, Exploit-DB. Already in this description, the open network port is 7547 gateway for the hackers. Apparently, it took until the end of November, to the unknown hackers had automated the Exploit-DB described the attack and the masses.

In an analysis on the page badcyber.com that was recommended by the CERT Team of BSI on Monday via Twitter, explain security researchers: The unknown hackers appear to be using a new attack extended Version of the malicious software “Mirai”, to take control of the devices and malicious software on this install. “Apparently it’s about a new botnet to build up this attack, however, works only with a specific Router type, even if more devices were disrupted,” said a BSI spokesman for the “world”.

Since Monday at noon, several Anti-Virus companies are set to become the new Mirai-variant attention, you published the signature in their joint database Virustotal. Mirai is a malicious software, which is now available as a kit on the net available for free – it is designed to take on devices in the Internet of things, and to bring them to a so-called botnet. This botnet then waits for commands from the Hacker and can be used for Blockade, attacks on infrastructure in the network. An attack of Mirai-botnet on the infrastructure provider, Dyn had already triggered the end of October, the world network problems. Apparently hackers are currently working on a new botnet.

Affected customers, the Telecom recommended that the restart of the router, but it helped many customers to only briefly or not at all. This, as well as the BSI published analysis suggest that the attack continues and the Router will restart after a short time again to the victim of the Hacker. On Monday afternoon, finally, the Telekom has released several Software Updates for the Speedport devices. Whether this work, however, even if the Mirai Software has already taken control over the Router, was not up to the editorial deadline is clear.

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