Lloyds Bank unit in Luxembourg
Reuters reported that Lloyds Banking Group wants to set up its third post-Brexit EU hub in Luxembourg (the other two are in Berlin and Frankfurt). The bank is speaking with regulators about setting up an insurance unit in the grand duchy. The news agency said Lloyds would not relocate any staff, but hire about 12 people locally.
Ex-Malaysian PM arrested in 1MDB scandal
Malaysian authorities have arrested a former Malaysian prime minister, Najib Razak, and charged him with 21 counts of money laundering and four counts of abuse of power in relation to the 1MDB money laundering scandal, reported NPR, Reuters and the Telegraph. US prosecutors said $4.5bn was missing from the development fund. Luxembourg authorities froze about $100m in funds as part of the case two years ago, Reuters said earlier this year.
Gulf carriers might merge
Bloomberg reported that Emirates is seeking to take over its smaller UAE rival Etihad. Income at Emirates is up, while Etihad is expected to lose money through 2022. If the deal goes through, it would create the world’s largest airline.
Uber wants to snap up Deliveroo
Bloomberg reported that Uber is seeking to take over its smaller rival Deliveroo. The deal would create the dominant food delivery service in Europe. According to the Financial Times: “UK-based Deliveroo is one of Europe’s best-funded start-ups, raising $385m last year in a round that valued the company at $2bn.”
Brexit: Chequers proposal is dead
The EU rejected Theresa May’s Chequers Brexit plan at the end of talks in Salzburg, reported the Guardian, Independent and New York Times. The European Council president, Donald Tusk, told the UK prime minister to deliver a new Irish border proposal by October. Separately, the French president, Emmanuel Macron, called those promoting Brexit “liars”. The Financial Times said May was “ambushed” and the Guardian said the British PM was “humiliated” at the summit.
Brexit: ask British ambassador your questions
Do you have a question about the status of UK citizens and their families in the EU after Brexit or about the Brexit negotiation process? The UK ambassador to Luxembourg, John Marshall, will be answering questions from Delano readers. The deadline to submit a question is today at 12noon.
Cleaning up orbit
So they’re actually testing a satellite that cleans up space junk. First up was a giant net. Later “RemoveDebris” will trial a harpoon and then a large membrane. Story and video via the BBC and MIT Technology Review. There is an estimated 7,500 tonnes of debris orbiting the Earth.
Flight delay ends on a high note
The Boston Symphony Orchestra improvised its repertoire for a concert in Amsterdam earlier this week, when only 76 of its 145 musicians and staff made it on time for the show, according to the Associated Press. The group’s Luxair flight from Paris experienced mechanical delays and a replacement aircraft couldn’t take everyone onboard. The musicians stranded at Charles de Gaulle airport, the news agency said, “had a picnic on the concourse, noshing on wines and cheeses from the duty-free shop,” and eventually arrived for a midnight party celebrating the end of the orchestra’s European tour.
Florida police say man can do garden work naked
Several Florida residents have complained about a neighbour who’s been doing his gardening and car repairs in the nude, according to Circa. The news site reports: “But police say they can’t do anything about it. As long as the man isn’t touching himself inappropriately, police can’t tell the man to put his clothes on because he is on his own property.” It’s enough to get them hot under the collar.