Articles by Karin Matussek

Former Wirecard Executive Marsalek Placed on Interpol’s Most Wanted List

Former Wirecard AG executive Jan Marsalek was added to Interpol’s red notice list, sparking a worldwide manhunt for one of the executives allegedly at the center of a multibillion-euro accounting scandal at the fintech company The move alerts police worldwide …

Blackstone’s Lombard Could Face Legal Issue with $1B-Plus of Unsigned Policies

For nearly a decade, Lombard International sat on a secret. It began to unravel in May 2016 when a wealthy German walked into a Luxembourg bank. The man wanted a loan. For collateral, he offered a future payout from a …

VW’s Porsche Unit to Pay $599M to End German Probe into Rigged Diesel Engines

Volkswagen AG’s Porsche sportscar unit agreed to pay 535 million euros ($599 million) to end a probe into rigged diesel engines, bringing the total amount of fines in its home country to more than 2.3 billion euros. The carmaker won’t …

UK Household Insurers, Banks Face Action for Overcharging Customers

Providers in the U.K.’s markets for cash savings, mortgages, insurance, mobile phone contracts and broadband are burdening customers with a “loyalty penalty” of around 4 billion pounds ($4.4 billion) a year, the Competition and Markets Authority said. Vulnerable people, including …

VW’s Audi Unit Slapped with $925M Fine in Germany over Emissions Scandal

Volkswagen AG’s Audi unit agreed to pay an 800 million-euro ($926 million) fine for its role in the diesel-cheating scandal that has disrupted the car industry for more than three years and landed Audi’s longtime leader in jail. The penalty …

Germany Moves Toward U.S.-Style Class-Actions, Benefiting VW Diesel Car Litigants

Germany will allow interest groups to sue on behalf of consumers, taking a tentative step toward U.S.-style class-action lawsuits in a bid to make it easier to collect damages from big companies in the aftermath of Volkswagen AG’s diesel-cheating scandal. …

German Police Resume Hunt for Killer in Christmas Market Terrorist Attack

German investigators intensified their search for the perpetrator of a deadly truck assault on a Christmas market in Berlin after an initial suspect was released, deepening the fear and uncertainty over what Chancellor Angela Merkel called a terrorist act. The …

Porsche Denies Liability as Investor Lawsuits Mount Over VW Diesel Scandal

Porsche Holding SE was caught up in the Volkswagen AG emissions debacle as investors raced to file German lawsuits ahead of the one-year anniversary of the scandal. A group of institutional investors filed a pair of lawsuits, seeking 2.8 billion …

How U.S. and EU Differ in Handling Volkswagen Diesel Scandal

If you own a Volkswagen with a diesel engine in the U.S., the company will buy back your car and give you as much as $10,000. If you drive in Europe, you may only get a piece of pipe. As …

Uber Wins Reversal of Germany’s Ban on Ridesharing App for Now

Uber Technologies Inc. won the reversal of a nationwide ban in Germany of the company’s ride-hailing app after judges said a group of taxi dispatchers improperly used emergency procedures to obtain the initial court order. While the judges still think …