Articles by Douglas Busvine

German Insurtech Wefox Plans to Launch Product that Warns of Looming Danger

BERLIN – German insurance tech startup Wefox plans to launch a risk prevention product that will use data from smartphones and other connected devices to warn users of impending danger, its founder and CEO Julian Teicke told Reuters on Thursday. …

German Insurtech Startup Wefox Expects Profitable 2021

BERLIN – German insurance technology startup Wefox expects to achieve revenue of 300 million euros ($365 million) and be profitable at the operating level next year, its founder and CEO, Julian Teicke, said in an interview. In pursuit of that …

Wirecard Probe Expands with Arrest of Head of Dubai-Based Subsidiary

BERLIN/FRANKFURT – German prosecutors said on Monday they had arrested the head of a Dubai-based subsidiary of Wirecard, widening the circle of suspects in a multi-billion-dollar fraud investigation into the collapse of the payments company. The Munich prosecutor’s office said …

‘The Money’s Gone’: Wirecard Collapses Owing $4 Billion

Wirecard collapsed on Thursday owing creditors almost $4 billion after disclosing a gaping hole in its books in Germany’s worst accounting scandal. The implosion of the payments company came a week after auditor EY refused to sign off its 2019 …

SAP Admits to Security Lapses in Some Products, but Says There Was No Data Breach

Business software group SAP disclosed on Tuesday that some of its cloud products did not meet contractual or statutory security standards and said it would take remedial action to fix the problem as soon as possible. The shortcomings were not …

Europe Needs Its Own Approach to Coronavirus Tracing, Say German Tech Startups

Europe should not cede its sovereignty to Silicon Valley when it comes to using technology to help trace those at risk of coronavirus infection, the German developers of a smartphone app said on Tuesday. Apple and Google said last week …

Judge Supports Reducing $2 Billion Damages in Bayer Roundup Glyphosate Case

Germany’s Bayer AG welcomed on Friday a call by a U.S. judge to cut a $2 billion damages award to a Californian couple by a jury which found that its glyphosate-based weed killer had caused their cancer. The company had …

GDPR Day 1: Privacy Activist Files Complaints Against Tech Giants Over ‘Forced Consent’

As Europe’s new privacy law took effect on Friday, one activist wasted no time in asserting the additional rights it gives people over the data that companies want to collect about them. Austrian Max Schrems filed complaints against Google , …

With Just Weeks to Go for GDPR, Europe’s Regulators Say They’re Underfunded, Unprepared

FRANKFURT/BRUSSELS/PARIS— Europe’s General Data Protection Regulation (GDPR) has been billed as the biggest shake-up of data privacy laws since the birth of the web. There’s one problem: many of the regulators who will police it say they aren’t ready yet. …

New European Privacy Rules (GDPR) Pose Major Challenge for Facebook

Facebook faces substantial business risks from new European Union privacy rules set to take effect in May, a looming reality that came into stark relief over the weekend with revelations that a controversial political consulting firm had improperly obtained personal …