Stories from Frankfurt · Germany

German airline Lufthansa is searching for an Oscar statue that went missing on a flight from New York to Germany. The award was previously ordered to be placed in checked baggage due to a lack of approval for carry-on transport. The airline is now contacting the creator to return the award. Telenkin vanished after being placed in the cargo hold of a Lufthansa flight. The award weighed approximately four kilograms and measured 13.5 inches. Executive producer Robin Hessman criticized the airline's handling of the situation, suggesting different treatment would have been afforded to a figure like Leonardo DiCaprio. A colleague raised the alarm on Instagram, prompting Lufthansa to locate the statue. The statue belonged to Russian director Pavel Talan Kin, who won this year for Best Documentary Film. The film was titled 'The Man Who Faced Putin'.

The European Train Control System (ETCS) has commenced operations on the route between Frankfurt and Mannheim. Deutsche Bahn reports that travel times on this segment have decreased by approximately 1.5 minutes. The system is intended to improve punctuality on the heavily trafficked line. Specialized personnel are currently monitoring the initial phase of operation to optimize processes.

A Russian filmmaker lost his Oscar award during transit to Frankfurt. Nobody Against Putin. The award winner, Lankan, stated that airport security would not allow him to take the statue. Scientists noted that participants in a separate study taking semi-glutide showed a higher reduction in heavy drinking days compared to those taking a placebo. The study participants were also receiving talking therapy during the trial. The Transportation Security Administration agent reportedly detained Tałankin at the airport and stated the Oscar could be used as a weapon. The statuette was placed in a box and sent to the aircraft cargo hold but never arrived in Frankfurt, according to a report by David Borenstein on Instagram. Russian filmmaker Pavel Talanking lost the award after security at a New York airport prevented him from carrying it as hand luggage for safety reasons.

The French CAC 40 closed at 8,114, marking an increase of over 0.5%.

The President of the European Central Bank stated that current tools are insufficient to control potential hacking of the global banking system. This admission follows concerns regarding artificial intelligence being used to target central banks and stock exchanges.

The Euribor rate has reached 2.74 percent, marking its highest level in nearly eighteen months. This increase follows two consecutive months of rises, including a two-tenths increase in April. The rise brings the rate back to levels not seen since October 2024. Variable-rate mortgages are expected to increase by an average of 50 euros per month as a consequence. The European Central Bank is maintaining interest rates to ensure inflation stabilization at a medium-term target of 2 percent. The bank stated it will continue a data-driven approach to determine monetary policy. This increase will raise monthly payments for individuals undergoing mortgage reviews. The rise occurs despite efforts to maintain interest rates following a meeting by European Central Bank Vice President Luis de Guindos. The trend follows recent discussions regarding economic stability in the Eurozone.

Numerous shareholders gathered ahead of a general meeting for a major chemical company. Shareholders and employees report challenges facing the company, including declining gas usage. An employee and shareholder noted that tension is high among the workforce regarding job security. The mood among staff is described as strained.

Five young female journalists were awarded the Kurt Magnus Prize today. The award is a renowned prize for junior journalists within the ARD network. The announcement was made in Frankfurt.

Christine Lagarde stated that political leaders must take responsibility for managing economic pressures. She noted that the European Central Bank has issued multiple warnings to avoid the type of inflationary pressure seen following the pandemic.

The European Central Bank has decided it does not yet find it necessary to intervene regarding rising inflation. In Portugal, inflation reached 3.4% in April, an increase of 0.7 percentage points from the previous month. Prime Minister Luis Montenegro stated there is no reason for alarm while meeting with ministers in Beja. Markets are now speculating on a possible rate increase in June if price trends continue. The European Central Bank kept the deposit facility rate unchanged at 2.0 percent despite rising inflation. This marks the seventh consecutive time the central bank has held rates steady. Economists expect the central bank may raise rates later this year once more data is available to assess the consequences of the Iran war.