German Banks Pay Millions to Settle Claims by Insolvent Signa

Helaba and other German lenders have paid millions of euros in recent weeks to settle claims by the administrator of former real estate tycoon Rene Benko's Signa Prime Selection AG.
Helaba paid €26 million ($30 million) at the end of May as part of an out-of court settlement, Signa Prime's insolvency administrator said in a report to creditors dated Monday. Other payments include €3 million received from Deutsche Pfandbriefbank AG and €2.1 million from Bayerische Landesbank.

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Yahoo

an hour ago

• Yahoo

Macron says Europe must become 'space power' again

President Emmanuel Macron said Friday that Europe must again become a global space power, warning that France risked being squeezed out of the global low-orbit satellite constellation market. Macron spoke at the Paris Air Show in Le Bourget outside the French capital a day after France more than doubled its stake in satellite operator Eutelsat, the EU rival to Elon Musk's Starlink. Macron called for more investment as the European space industry struggles to remain competitive in the face of US and Chinese rivals. "SpaceX has disrupted the market, Amazon is also getting involved. China is not far behind, and I think we all need to be very clear-headed," Macron said. Europe must become "a space power once again, with France at its heart", he said. He warned that Europeans were "on the verge of being completely" squeezed out of the low Earth orbit (LEO) satellite constellation market. Orbiting just a few hundred kilometres above the Earth, low Earth orbit satellite networks can play a crucial role in various fields including telecommunications, emergency response, space exploration, and defence. Growing geopolitical tensions have forced countries to focus on the independence of their satellite infrastructure. Macron said France and its partners should not be reliant on non-European constellations in low orbit, calling it "madness". He called non-European players to team up with France. "This must be the solution for our major strategic partners in the Gulf, India, Canada and Brazil," he said. "We really need to succeed in increasing our collective investment effort," Macron added, noting the importance of private investors and public-private collaboration. He also said France planned to organise a space summit in early 2026 to "mobilise our public and private partners across the globe." As part of the overall deal with other investors worth 1.35 billion euros ($1.5 billion), the French state is set to become Eutelsat's largest shareholder. The European satellite operator is vying to be seen as an alternative to Starlink, as companies in Europe and elsewhere look askance at Musk's manoeuvrings and seek to secure sovereign solutions. Boasting more than 600 satellites since merging with British firm OneWeb in 2023, Eutelsat is the world's second-largest operator of low Earth orbit satellites, behind Starlink. fff-tq-as/ekf/js

Vogue

an hour ago

• Vogue

Ralph Lauren Spring 2026 Menswear Collection

Even as the USA's reputational stock falters, global regard for Ralph Lauren—the most all-American of American brands—is on the up: Vogue Business last month reported the company's sales in Europe and China had increased 12 per cent and 9 per cent respectively in the fiscal year 2025. That uptick means that the majority of the company's total $7.1 billion of revenue for the same period was generated beyond the Land of The Free. So during a period where luxury more broadly has also been faltering, how has RL been bucking the trend two-fold? This evening's Ralph Lauren Purple Label pointed to at least part of an answer. Once you'd steered beyond the vintage car in the courtyard, the presentation was split into two sections. The first cluster of looks were garments for an idealized version of the New York Yacht Club: wearable American magic. Navy washed against white on a piped terry boating blazer worn with a bengal stripe shirt and cravat over pleated linen shorts and ankle-strapped espadrilles. A four-button (silver) navy double breasted blazer with ersatz branded club badge was commodore-level quality. Thickly woven textured silk navy short sleeve shirting and drop shoulder color block knits, or classic Ralph (via the Marylebone Cricket Club) cable-knit sweaters all added to the breezy feel. The next section, housed in the brand's Milan palazzo's first-floor courtyard, was a tonal triumph. Of the maybe 25-strong cast of globally-sourced heartthrobs, around 23 wore shades running from the pale khaki of a game-pouched fishing jacket over a safari shirt and action pant to the richly-burnished, nutty brown of a distressed leather flight jacket with complementarily-strapped pilot's watch. From the slubby silk linen windowpane check field jackets to the tailored linen takes on mid-century military shirting via the darker interjections of art-deco intarsia tuxedo jackets, these were clothes for sophisticated yet unstuffy heroes. The jaunty cravats and woven short sleeve shirting recalled Cary Grant as John Robie The Cat; the masterful khakis were slimmed down Hemingway fare for living large on The Keys; and the flight jacket and tux were prime Pitt and Clooney material. Lauren has always said he designs cinematically: this was American luxury that evoked a reassuring, aspirational, and highly-idealized version of its homeland—and which seemed all the more desirable thanks to that vision's current distance from reality.

TechCrunch

2 hours ago

• TechCrunch

Rippling spy says men have been following him, and his wife is afraid

If becoming a spy sounds like an exciting way to live like a Le Carré character, let this newest affidavit from confessed Rippling spy Keith O'Brien serve as a warning. On Friday, an Irish judge granted O'Brien a restraining order against several men who have not yet been identified, according to the court order seen by TechCrunch. O'Brien testified that multiple men – two in a gray Skoda Superb on one occasion, and more often, a short-haired, heavy-set man in a black SUV, sometimes accompanied by a large dog – had repeatedly followed his car and watched his home. O'Brien's story has captured the imagination of the tech industry after his colorful confession in April, in which he alleged that he was a spy for Deel. He said he was paid €5,000 a month to steal Rippling's internal data on everything from products to customers. Rippling caught him by setting up a honeypot Slack channel. On the day he was caught, O'Brien pretended to flush his phone down the corporate toilet and later smashed it, dropping pieces down the drain at his mother-in-law's house, according to his affidavit. Now he's the star witness for Rippling in its lawsuit against Deel. Rippling is even picking up the tab for his legal and related expenses, its lawyers testified. Deel is also countersuing Rippling, claiming it was spied on too, by a Rippling employee impersonating a customer. The two HR tech companies have been bitter rivals for years after Deel – once a Rippling customer – began offering competing products. In the latest part of the saga, O'Brien testified that he tried to lose the black SUV following his car by making sudden turns and taking roundabout ways to get home, only to see it reappear in his rearview mirror. He hired a security consulting company and feared that someone was placing tracking devices on his car. O'Brien claims all of these incidents have created 'emotional and psychological' damage for himself and his wife. 'We have been experiencing anxiety at home and in public. It has affected our sleep and our concentration,' O'Brien said in his latest affidavit. They are fearful for the safety of their four children. He and his lawyer speculated that this was intended as harassment related to his role as star witness. However, O'Brien's lawyer also admitted in court that they had no evidence tying the men to Deel. Deel also denied knowing anything about the man in the black SUV. Techcrunch event Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW According to the Irish publication Business Post, when granting the injunction, the judge apparently said, 'As if they are in a 1970s cops and robbers' TV show. Whatever happens in the dueling court cases, O'Brien has made himself the rope in a bitter tug of war between these two well-funded HR startups. And from what he says in his testimony, it sounds painful.