Archiv: capital / capitalism


15.03.2023 - 11:38 [ Haaretz ]

Head of Israel’s Central Bank Warns ‘Hasty’ Judicial Coup Will Lead to Dangerous Brain Drain

Recent moves by the Israeli government to undermine the power of the courts could undermine investment and spark an exodus of educated Israelis, Bank of Israel Governor Amir Yaron warned on Wednesday. He further declared that it was “imperative” to maintain the independence of the judiciary.

15.03.2023 - 11:31 [ Haaretz ]

Amid Judicial Coup, Tech Unicorn Pulls $500 Million Out of Israel, Offers Relocation to Lisbon

The CEO of Riskified, an Israeli fraud-prevention company, said in a staff email that the judicial overhaul could lead to an economic downturn and put Israel on the path to authoritarianism.

13.03.2023 - 16:37 [ CNN ]

Biden vows to hold those responsible for Silicon Valley Bank failure ‘fully accountable’

“I am firmly committed to holding those responsible for this mess fully accountable and to continuing our efforts to strengthen oversight and regulation of larger banks so that we are not in this position again,” he added.

13.03.2023 - 06:28 [ CNN Money ]

CNNMoney.com’s bailout tracker

Troubled ASSET RELIEF PROGRAM
Financial rescue plan aimed at restoring liquidity to the financial markets

(…)

Committed : $11 trillion (total)
Invested: $3 trillion (total)

13.03.2023 - 06:24 [ Fortune.com ]

Silicon Valley Bank won’t get a federal bailout, says Janet Yellen: ‘We’re not going to do that again’

Yellen, in an interview with CBS’ “Face the Nation,” provided few details on the government’s next steps. But she emphasized that the situation was much different from the financial crisis almost 15 years ago, which led to bank bailouts to protect the industry.

“We’re not going to do that again,” she said.

12.03.2023 - 20:46 [ rferl.org ]

Russia’s War In Ukraine Helps Oil Giant Saudi Aramco Post Historic $161 Billion Profit In 2022

The announcement came off the back of energy prices rising after Russia launched its war on Ukraine in February 2022, with sanctions limiting the sale of Moscow’s oil and natural gas in Western markets. Aramco’s results mirror the huge profits seen at U.S. and British oil giants.

12.03.2023 - 04:50 [ Fañch ar Ruz / Nitter ]

La retraite, c’est comme la galette, on la veut complète ! #NonALaReformeDesRetraites #OnBloqueTout #15mars #greve15mars #manifestation15mars

#ReformeDesRetraites #64ansCestNon #Pontivy #Morbihan #CentreBretagne #Bretagne

12.03.2023 - 04:20 [ La CGT / Nitter ]

Philippe Martinez : « La détermination […] est plus forte suite au courrier que nous a adressé le président de la République, où globalement il nous fait un bras d’honneur » #NonALaReformeDesRetraites #manifestation11mars

12.03.2023 - 04:16 [ France24.com ]

Will strikes force Macron to back down over French pension reforms?

France saw a wave of strikes against Emmanuel Macron’s pension reforms on Thursday, causing disruption to trains, flights, schools and even hospitals. Polls show a majority of the French oppose the president’s measures – and analysts say maintaining public support of strikes will be crucial to unions’ chances of forcing a U-turn.

12.03.2023 - 04:12 [ Le Monde ]

France’s Senate passes controversial pension reform

French senators passed the deeply unpopular plan by 195 votes to 112 late Saturday, bringing the package another step towards becoming law. The vote came hours after hundreds of thousands of people again marched in protest in rallies across the country, but in fewer numbers than expected.

12.03.2023 - 03:58 [ Jurist.org ]

France pension protests enter seventh day, affecting multiple economic sectors

Protestors in France Saturday demonstrated for a seventh day against President Emmanuel Macron’s pension reform plan, which has been widely disputed across the country since his announcement of the plan in January.

According to the Confederation of Labor (CGT), a national federation of French trade unions, hundreds of thousands of employees, young people, and retirees went on strike and protested in the streets of French cities Friday against Macron’s plan.

09.03.2023 - 05:30 [ Navy Vet / Nitter ]

Republicans say new tax bill is DOA. It would raise Medicare$ from 3.8% to 5% for income greater than $400K. Also tax wealthy >$100 million and families 20% on income & stocks.

I guess this would be bad for @GOP next taxes on bribes.

09.03.2023 - 05:09 [ ABC7 News Bay Area / Youtube ]

President Biden plans new taxes on the rich to help save Medicare

President Joe Biden on Tuesday proposed new taxes on the rich to help fund Medicare, saying the plan would help to extend the insurance program’s solvency by 25 years and provide a degree of middle-class stability to millions of older adults.

09.03.2023 - 04:57 [ New York Times ]

Biden Is Set to Detail Nearly $3 Trillion in Measures to Reduce Deficits

Mr. Biden’s plans to trim the deficit are unlikely to mollify Republicans. He has refused to negotiate over the debt limit and has said he will not cut benefits for Social Security or Medicare, two popular safety net programs. But he has said repeatedly that he is open to reducing deficits by raising taxes on corporations and the rich.

09.03.2023 - 04:51 [ Kiplinger.com ]

Biden Wants a Wealth Tax: Should Billionaires Pay More?

For example, in 2021, a ProPublica report indicated that the richest twenty-five Americans had an effective zero percent tax rate. When the ProPublica analysis was first released, it generated controversy over confidentiality of taxpayer information. But the data made some people aware of how the very wealthy can sometimes avoid paying federal taxes.

So, why does all of this matter? Well, there’s a wealth distribution gap in America.

07.03.2023 - 16:52 [ Nupes-2022.fr ]

Non à la retraite à 64 ans ! – La campagne

Retrouvez ici toutes les infos et ressources concernant la campagne commune de la NUPES contre la réforme de la retraite à 64 ans !

05.03.2023 - 14:32 [ Alexandria Ocasio-Cortez / Twitter ]

When I opposed this Amazon project coming to New York bc it was a scam of public funds, the whole power establishment came after us. Billboards went up in Times Sq denouncing me. Powerful pols promised revenge. Op-Eds & CEOs insulted my intelligence. In the end, we were right.

05.03.2023 - 14:30 [ theHill.com ]

Millionaires urge Democrats to include billionaire tax in spending bill

(01.11.2021)

A group of about 250 millionaires on Monday urged top Democrats to include a proposal to tax billionaires‘ investment gains annually in their social-spending package, after the proposal was left out of a framework the White House released last week.

05.03.2023 - 14:21 [ Salon.com ]

Amazon’s labor exploitation is a return to the 1920s — and unions are our best hope out

(14.06.2021)

Amazon claims to be innovative, but its strategies of market dominance and labor exploitation are as old as capitalism itself, and were perfected by predecessors like Standard Oil, General Motors, US Steel, AT&T, Walmart and Microsoft. My union, the International Brotherhood of Teamsters, views this as history repeating itself.

The Roaring ’20s were great for those at the top, but meant massive exploitation of workers. As we embark further into the 2020s, the Teamsters will make sure that Amazon cannot repeat a history where workers suffered acutely to make ends meet and were frequently injured or even killed on the job while company executives stuffed their pockets with the profits.

05.03.2023 - 14:19 [ CNBC ]

How companies like Amazon, Nike and FedEx avoid paying federal taxes

(14.04.2022)

The 55 corporations cited by ITEP would have paid a collective total of $8.5 billion. Instead, they received $3.5 billion in tax rebates, collectively draining $12 billion from the U.S. government, according to the institute.

05.03.2023 - 14:17 [ theGuardian.com ]

Amazon had sales income of €44bn in Europe in 2020 but paid no corporation tax

(4, May 2021)

Accounts for Amazon EU Sarl, through which it sells products to hundreds of millions of households in the UK and across Europe, show that despite collecting record income, the Luxembourg unit made a €1.2bn loss and therefore paid no tax. (…)

The Luxembourg unit – which handles sales for the UK, France, Germany, Italy, the Netherlands, Poland, Spain and Sweden – employs just 5,262 staff meaning that the income per employ amounts to €8.4m.

05.03.2023 - 14:07 [ Macrotrends.net ]

Amazon Income Taxes 2010-2022 | AMZN

Amazon annual income taxes for 2022 were $3.217B, a 167.15% decline from 2021.
Amazon annual income taxes for 2021 were $4.791B, a 67.34% increase from 2020.
Amazon annual income taxes for 2020 were $2.863B, a 20.6% increase from 2019.

05.03.2023 - 14:03 [ macrotrends.net ]

Amazon Gross Profit 2010-2022 | AMZN

Amazon annual gross profit for 2022 was $225.152B, a 14.01% increase from 2021.
Amazon annual gross profit for 2021 was $197.478B, a 29.28% increase from 2020.
Amazon annual gross profit for 2020 was $152.757B, a 32.85% increase from 2019.

03.03.2023 - 18:40 [ Nasdaq.com ]

Big Oil to take centerstage at Houston meet as markets, alliances shift

The war in Ukraine sparked a rally in crude oil and fuel prices that led to record industry profits, prompting the U.S. government and others to accuse Big Oil of profiteering and for Britain and some other governments to impose windfall taxes on energy companies.

03.03.2023 - 18:18 [ Reuters ]

Oil prices down after report on UAE debating OPEC exit

Oil prices slumped on Friday after the Wall Street Journal reported that the United Arab Emirates had an internal debate about leaving OPEC and pumping more oil, but retraced some losses after a source told Reuters this was not true.

03.03.2023 - 17:48 [ wise.com ]

SABRATWW XXX Sberbank Europe AG in Abwicklung BIC/SWIFT-Code Daten

Diese Codes werden genutzt, um Geld zwischen verschiedenen Banken zu überweisen – sie kommen zumeist bei internationalen Überweisungen zum Einsatz. Banken verwenden diesen Code außerdem, um untereinander Nachrichten auszutauschen.

03.03.2023 - 17:39 [ wise.com ]

GAZPRUMM XXX GAZPROMBANK (JOINT – STOCK COMPANY) BIC/SWIFT-Code Daten

Der SWIFT-Code – mitunter auch SWIFT-Nummer genannt – ist ein einheitliches Format für Business Identifier Codes (BIC). Banken und Finanzinstitute nutzen diesen Code, um sich weltweit identifizieren zu können. Der Code gibt an, um welche Institution es sich handelt und wo sich diese befindet – sozusagen eine internationale Bankleitzahl oder ein internationaler Ausweis.

23.02.2023 - 21:08 [ CNN ]

US fails to get Middle East allies to take sides one year into the Ukraine war

The biennial International Defence Exhibition (IDEX) in the UAE capital Abu Dhabi is the largest defense conference in the Middle East, with the participation of over 1,300 exhibitors from 65 countries.

But what makes it stand out from other major arms fairs is its participants. Invitees include military officials and manufacturers from countries that aren’t friendly with each other. Delegates from China and the United States, Russia and Ukraine, India and Pakistan, and Israel and Arab states are present at the same event.

Eight Russian arms manufacturing firms were exhibiting at the fair, including Kalashnikov Group and Rosoboronexport. In a statement to CNN, IDEX said it was “proud that this year’s edition is the largest in the event’s 30-year history.”

23.02.2023 - 21:04 [ Bloomberg ]

Russian Oil Flows to China Hit Highest Levels Since Ukraine Invasion

(20.02.2023)

Russian exports of discounted crude and fuel oil to China have jumped to record levels as the re-opening of the world’s biggest energy importer gathers pace after the dismantling of Covid Zero.

23.02.2023 - 20:56 [ ResponsibleStatecraft.org ]

Ukraine War at One Year: How the Ukraine war helped the arms trade go boom

(February 21, 2023)

As the war drags on, demand for weapons will likely continue to rise in Europe as Ukraine’s supporters rebuild their stockpiles and modernize their militaries. But, as Jeff Abramson of the Arms Control Association argues, the weapons build-up will not end alongside the conflict. Instead, arms sales will likely continue to rise as weapons makers compete for clients in regions far removed from eastern Europe.

“Once you revitalize and grow that industry, you will see increased flows of weapons outside of the conflict in Ukraine,” Abramson told RS. “That is the history of a burgeoning arms market — it doesn’t stop [with] Ukraine.”

23.02.2023 - 20:39 [ RTE.ie ]

How the world’s arms giants are making billions from Ukraine war

(11 Mar 2022)

The Russian invasion of Ukraine has been widely condemned for its unjustified aggression. There are legitimate fears of a revived Russian empire and even a new world war. Less discussed is the almost half trillion dollar (€453 billion) defence industry supplying the weapons to both sides, and the substantial profits it will make as a result.

23.02.2023 - 20:22 [ New York Times ]

What Exxon and Chevron Are Doing With Those Big Profits

(Feb. 1, 2023)

The variables that will determine oil companies’ profitability this year are largely out of their control — in both supply and demand. The war in Ukraine could expand or not; a recession in the United States and Europe could be deep or averted entirely. Prices for fuels, and inflation generally, will largely depend on how events play out.

23.02.2023 - 19:48 [ Forbes ]

Shell Reports Record Profits As Oil Giants—Including Exxon, Chevron—Cash In On Sky-High Prices After Russian Invasion Of Ukraine

(Feb 2, 2023)

Shell reported an annual profit of nearly $40 billion in 2022, the highest in the firm’s 115-year history.

The figure is more than double the $19.3 billion the firm reported in 2021 and far greater than its previous record of $31 billion in 2008.

19.02.2023 - 09:36 [ courtney / Nitter ]

From an economic standpoint the United States is making a shit ton of money off of this war. In a capitalist economy profit will always mean more in value than human life; American or not. They follow where the money flows and where American corporations benefit in the long run.

19.02.2023 - 09:28 [ Pavel Pashkov / Nitter ]

States and transnational corporations, in the race for profit, play off entire nations, provoke conflicts, try to force us to fight each other, to hate each other. Don’t give in! Be strong.

14.02.2023 - 07:48 [ Forbes ]

Shell Reports Record Profits As Oil Giants—Including Exxon, Chevron—Cash In On Sky-High Prices After Russian Invasion Of Ukraine

(Feb 2, 2023)

Shell reported an annual profit of nearly $40 billion in 2022, the highest in the firm’s 115-year history.

The figure is more than double the $19.3 billion the firm reported in 2021 and far greater than its previous record of $31 billion in 2008.

14.02.2023 - 07:32 [ Matías Vernengo and Esteban Pérez Calde / Post-Keynesian Economics Society / Researchgate.net ]

Price and Prejudice: A Note on the Return of Inflation and Ideology

With the acceleration of inflation in the post-pandemic recovery, the debate seemed to be limited to whether the inflationary spike would be short-lived or persistent and become imbedded into inflationary expectations. While some Keynesian authors like Paul Krugman initially believed that inflation was caused by cost-push factors including by the sharp rises in energy and foodstuff prices as a result of the Ukraine war, and that it would quickly subside, the debate shifted rapidly and a new consensus according to which inflation was, in part the result of over stimulation of demand during the pandemic coupled with supply side shocks that lowered the potential level of output which provides the main theoretical justification for raising interest rates. Thus, even when most authors accept the notion that snags in the supply chain played a role in the acceleration of inflation, the main cause is to be seen on the excess demand side with the economy beyond its potential output level.

The challenge to conventional wisdom, and its emphasis on demand, has come from left
of center authors, like Robert Reich, that suggest inflation is caused by greedy corporations that have increased their profit margins during a crisis. This has brought back the old debate about the relationship between administered prices and inflation, and the proposition that inflation is directly related to highly concentrated market structures, or what might be termed oligopolistic inflation.

In other words, there is an ideological divide between those that blame inflation in an incompetent government and central bank reaction to the pandemic versus those that suggest that the real culprits are greedy corporations rising their mark up above their costs.

14.02.2023 - 07:03 [ Britannica.com ]

capitalism

Polls conducted during 2010–18 found that a slight majority of millennials held a positive view of socialism and that support for socialism had increased in every age group except those aged 65 or older. It should be noted, however, that the policies actually favoured by such groups differed little in their scope and purpose from the New Deal regulatory and social-welfare programs of the 1930s and hardly amounted to orthodox socialism.

14.02.2023 - 06:53 [ SeekingAlpha.com ]

U.S. Quietly Revises Q4 Inflation Up, Bombshell January CPI On Deck

While the rest of America was gearing up for the Super Bowl Sunday, the Bureau of Labor Statistics revised Q4 inflation numbers higher on Friday.
This is actually huge news.
Preprogrammed algos bought billions in stock off of November and December CPI off of faulty assumptions about inflation going away easily, which sparked the huge rally.
The inflation revisions are a double whammy.

14.02.2023 - 06:45 [ CNN ]

This is the economic buzzword we should all be paying attention to

Over the past year, an alphabet soup of otherwise wonky economic statistics have become household names as American families suffered through the worst inflation in 40 years: CPI (Consumer Price Index), PPI (Producer Price Index), PCE (Personal Consumption Expenditures and ECI (Employment Cost Index).

14.02.2023 - 06:39 [ Yahoo.com ]

Stock market news today: Stocks soar as investors look ahead to inflation data

Tuesday’s CPI reading will come as investors recalibrate expectations for high interest rates will go this year after Fed Chair Jerome Powell implied in a speech last week that the battle against inflation was in its early stages. For much of the year, many were betting the U.S. central bank would pause its interest rate hiking campaign this year.

12.02.2023 - 07:52 [ Ali Winston / Nitter ]

Call for a General Strike in France on March 7, in opposition to Macron’s retirement & pension overhaul

12.02.2023 - 07:49 [ France24.com ]

France against pension reform, unions vow to ramp up strikes

The unions said in a joint statement that they would call for a national strike that would „bring France to a standstill“ on March 7 if the government „remained deaf to the popular mobilisation“.

11.02.2023 - 11:37 [ France24.com ]

France braces for a fourth day of pension reform protests

The protests are a crucial test both for Macron and his opponents. The government has insisted it’s determined to push through Macron’s election pledge to reform France’s generous pension system. But strong popular resentment will strengthen efforts by labor unions and left-wing legislators to try to block the bill.

11.02.2023 - 05:27 [ Forbes ]

Shell Reports Record Profits As Oil Giants—Including Exxon, Chevron—Cash In On Sky-High Prices After Russian Invasion Of Ukraine

(Feb 2, 2023)

Shell reported an annual profit of nearly $40 billion in 2022, the highest in the firm’s 115-year history.

The figure is more than double the $19.3 billion the firm reported in 2021 and far greater than its previous record of $31 billion in 2008.

11.02.2023 - 05:19 [ Yahoo.com ]

Oil surges to multi-year highs as Russian supply shortfall looms

Crude prices posted their largest weekly gains since the middle of 2020, with the Brent benchmark up 21% and U.S. crude gaining 26%. The most commonly traded oil futures closed at levels not seen since 2013 and 2008, respectively.

07.02.2023 - 06:54 [ CNN ]

‘There is only so much patience one can have’: Biden appears to back off vow to punish Saudi Arabia

(03.02.2023)

Now almost a month into the new session of Congress, lawmakers have yet to hear from administration officials about launching a coordinated review of the US-Saudi relationship, despite repeated statements over the past few months by the White House that congressional input would be key to such an assessment

07.02.2023 - 06:52 [ CNN / Nitter ]

Months after President Biden promised Saudi Arabia would suffer “consequences” after OPEC+ announced it would cut production, his administration has no plans to punish – let alone significantly reorient its posture toward – the country, sources say

(03.02.2023)

07.02.2023 - 06:39 [ Bloomberg ]

OPEC+ Exports Show Russia Surges While Saudi Arabia Dials Back

(03.02.2023)

It’s also unclear exactly what drove the decrease in Saudi shipments, which dropped by 580,000 barrels a day last month, or about 8%.

07.02.2023 - 06:33 [ Jeremy Corbyn / Nitter ]

Today is the biggest day of strike action in the history of the NHS. My question to those in positions of leadership: what side of history do you want to be on?

(06.02.2023)

07.02.2023 - 05:24 [ Unison.org.uk ]

Donate to support striking workers

As UNISON members continue to take strike action, the union is asking for donations to its strike fund

07.02.2023 - 05:13 [ WestbridgfordWire.com ]

NHS Strikes: Nottingham NHS staff say ‘enough is enough after 10 years of below-inflation pay’

Nottingham NHS staff taking part in the biggest strike in the history of the service say they are suffering a ‘huge’ impact on their mental health because of their jobs.

Hundreds of nurses, healthcare assistants and clinicians took to picket lines across Nottinghamshire alongside paramedics, technicians, call handlers and other staff working for East Midlands Ambulance Service.

07.02.2023 - 04:56 [ EdinburghLive.co.uk ]

Upcoming strikes in Edinburgh as firefighters and teaching staff take industrial action

Here are the main public service strikes planned for the coming months, and the dates that these unions will be staging industrial action across Edinburgh.

07.02.2023 - 04:52 [ Reuters ]

Workers stage largest strike in history of Britain’s health service

Nurses and ambulance workers have been striking separately since late last year but Monday’s walkout involving both, largely in England, is the biggest in the 75-year history of the NHS.

Nurses will also walk out on Tuesday, ambulance staff on Friday, and physiotherapists Thursday, making the week probably the most disruptive in NHS history, its Medical Director Stephen Powis said.

04.02.2023 - 02:19 [ Laurie Law, Susan Sabett, Jerrry Solinas / technocracy.news ]

HOW TO MAKE A MINT: THE CRYPTOGRAPHY OF ANONYMOUS ELECTRONIC CASH*

(1997)

* This research Essay was prepared by NSA employees in furtherance of the study of
cryptography. The contents of the report do not necessarily represent the position or policies of the U.S. Government, the Department of Defense, or the National Security Agency. The authors are mathematical cryptographers at the National Security Agency’s Office of Information Security Research and Technology.

04.02.2023 - 02:12 [ theHackerNews.com ]

Bitcoins – Secured by NSA designed Encryption or Backdoored ?

(Sep 13, 2013)

The integrity of Bitcoin depends on a hash function called SHA-256, which was designed by the NSA and published by the National Institute for Standards and Technology (NIST).

Is it hard to believe that could the intelligence community have a secret exploit for Bitcoin?

04.02.2023 - 01:55 [ Technocracy.news ]

Bitcoin: Evidence Points To The NSA As Its Original Engineer

( December 13, 2017)

I’m going to assume the readers who make it to this article are well informed enough that I don’t have to go into the history of the global money changers and their desire for a one world currency. (If you don’t yet understand the goal of the globalist banking empire and the coming engineered collapse of the fiat currency system, you’re already about 5,000 posts behind the curve.)

With that as a starting point, it’s now becoming increasingly evident that Bitcoin may be a creation of the NSA and was rolled out as a “normalization” experiment to get the public familiar with digital currency. Once this is established, the world’s fiat currencies will be obliterated in an engineered debt collapse (see below for the sequence of events), then replaced with a government approved cryptocurrency with tracking of all transactions and digital wallets by the world’s western governments.

01.02.2023 - 09:59 [ Sky.com ]

UK strikes: No 10 admits ‚very difficult‘ day ahead as hundreds of thousands of workers walk out

Downing Street has conceded that today’s mass strike action will be „very difficult“ for the public.

The prime minister’s official spokesman said it is „disappointing“ that headteachers do not know fully how many teachers will be available for work until later today.

01.02.2023 - 09:52 [ Independent.co.uk ]

Strikes UK – live: Train drivers and teachers join biggest walkout in decade today

Downing Street said 600 military personnel as well as civil servants and volunteers across government have been trained to fill the gaps in public services.

Paul Nowak, general secretary of the TUC, said a petition of more than 250,000 signatures opposing new so-called “anti-strike” laws will be delivered to Downing Street.

01.02.2023 - 09:13 [ France24.com ]

France sees bigger crowds on second strike day against Macron pension reforms

French protesters launched a new push Tuesday to pressure President Emmanuel Macron into dropping a pension reform plan, with hundreds of thousands taking to the streets in bigger crowds than those seen on the previous day of rallies on January 19.

31.01.2023 - 14:09 [ France24.com ]

Strikes over pension reform disrupt France for second time in a month

From tiny islands to major cities, demonstrators poured into France’s streets Tuesday in the latest clash of wills with the government over its plans to push back the retirement age. Labor unions aimed to mobilize more than 1 million demonstrators in what one veteran left-wing leader described as a “citizens‘ insurrection.“

26.01.2023 - 14:12 [ Archive.org ]

The Trap What Happened To Our Dream Of Freedom We Will Force You To Be Free Episode 3

The final program of Curtis‘ 2007 series focuses on the concepts of positive and negative liberty introduced in the 1950s by Isaiah Berlin. Curtis briefly explains how negative liberty could be defined as freedom from coercion and positive liberty as the opportunity to strive to fulfill one’s potential.

20.01.2023 - 03:44 [ France24.com ]

More than 1 million protest across France against Macron’s pension reform

– More than a million people took to the streets across France to protest against the Macron government’s plans to reform the pension system, of which a proposal to raise the retirement age from 62 to 64 is among the most controversial. Macron insists the reform is needed to reform a moribund system – but some of the government’s own experts have said the pension system is in relatively good shape and would likely eventually return to a balanced budget even without reforms. 

– The interior ministry said some 1.2 people protested across France, 80,000 of them in Paris. Union organisers, however, estimated the number at 2 million, with 400,000 protesting in Paris.

17.01.2023 - 19:24 [ theHill.com ]

Millionaires urge Democrats to include billionaire tax in spending bill

(01.11.2021)

A group of about 250 millionaires on Monday urged top Democrats to include a proposal to tax billionaires‘ investment gains annually in their social-spending package, after the proposal was left out of a framework the White House released last week.

17.01.2023 - 11:44 [ Oxfam America ]

SURVIVAL OF THE RICHEST

Oxfam briefing paper – January 2023

We are living through an unprecedented moment of multiple crises. Tens of millions more people are facing hunger. Hundreds of millions more face impossible rises in the cost of basic goods or heating their homes. Poverty has increased for the first time in 25 years. At the same time, these multiple crises all have winners. The very richest have become dramatically richer and corporate profits have hit record highs, driving an explosion of inequality. This report focuses on how taxing the rich is vital to addressing this unprecedented polycrisis and skyrocketing inequality. The report explores how, in recent history, taxation of the richest was far higher; how talk of taxing the rich and making billionaires pay their fair share is hugely popular; and how taxing the rich claws back elite power and reduces not just economic inequality, but racial, gender and colonial inequalities, too. The report lays out how much tax the richest should pay, and the practical, tried and tested ways in which governments can raise such taxation. It shows us how taxing the rich can set us clearly on a path to a more equal, sustainable world free from poverty.

17.01.2023 - 11:09 [ theGuardian.com ]

Davos day 1: pessimistic mood as WEF annual meeting begins; Von der Leyen and Liu He speeches due – business live

The agenda

8.30am Davos / 7.30am UK: Panel on Philanthropy: a catalyst for protecting our planet, with John F Kerry, special presidential envoy for climate of the United States of America; Mark Carney, United Nations special envoy for climate action and finance

8.30am Davos / 7.30am GMT: Mastering New Energy Economics session including Fatih Birol, executive director, International Energy Agency

11:15am Davos / 10.15am GMT: Special address by Ursula Von Der Leyen, president of the European Commission

11:45am Davos / 10.45am GMT: Special address by Liu He, vice-premier of China

1.15pm Davos / 12.15pm GMT: Media briefing: 2023 Explained: chief economist briefing on state of world economy, with Gilles Moëc, chief economist, AXA; Raghuram G Rajan, Katherine Dusak Miller, distinguished service professor of finance, University of Chicago Booth School of Business, Nela Richardson, senior vice-president & chief economist, automatic data processing

5.30pm Davos / 4.30pm GMT: A Conversation with Henry Kissinger: Historical Perspectives on War

6.45pm Davos / 5.45pm UK: Press conference with Mykhailo Fedorov, vice-prime minister of Ukraine

07.01.2023 - 19:14 [ Bloomberg ]

The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret

(May 31, 2016)

The basic framework was strikingly simple. The U.S. would buy oil from Saudi Arabia and provide the kingdom military aid and equipment. In return, the Saudis would plow billions of their petrodollar revenue back into Treasuries and finance America’s spending.

It took several discreet follow-up meetings to iron out all the details, Parsky said. But at the end of months of negotiations, there remained one small, yet crucial, catch: King Faisal bin Abdulaziz Al Saud demanded the country’s Treasury purchases stay “strictly secret,” according to a diplomatic cable obtained by Bloomberg from the National Archives database.

01.01.2023 - 19:23 [ theHill.com ]

Millionaires urge Democrats to include billionaire tax in spending bill

(01.11.2021)

A group of about 250 millionaires on Monday urged top Democrats to include a proposal to tax billionaires‘ investment gains annually in their social-spending package, after the proposal was left out of a framework the White House released last week.

01.01.2023 - 19:13 [ theHill.com ]

Trump blasts Democrats, Supreme Court after House releases tax returns

“The ‘Trump’ tax returns once again show how proudly successful I have been and how I have been able to use depreciation and various other tax deductions as an incentive for creating thousands of jobs and magnificent structures and enterprises,” he continued.

29.12.2022 - 15:10 [ inews.co.uk ]

UK could be moving towards de facto general strike as unions promise co-ordinated action

Union leaders have previously argued that walkouts by staff across multiple sectors would constitute a de facto general strike, the like of which has not been seen in the UK since 1926.

Only the Trade Union Congress (TUC) has the power to call a general strike, though its legality remains unclear after laws were tightened in the 80s.

The umbrella organisation which represents the majority of trade unions in the UK has a total of around 5.5million members.

25.12.2022 - 12:57 [ Telegraph.co.uk ]

Euro forecast to be worth less than a dollar after Christine Lagarde’s ‘kamikaze’ rate rises

He said: “It’s like the ghost of Trichet has come back and taken over.”

Recession fears driven by soaring gas prices and looming blackouts pushed the euro to a 20-year low of $0.9536 against the dollar in September.

16.12.2022 - 23:00 [ Haaretz ]

‚Existential Threat‘: Hi-tech Execs Warn Netanyahu Against Undermining Israel’s Justice System

„However, harming the court’s status, as well as harming the rights of minorities based on religion, race, gender or sexual orientation, will constitute a real existential threat to the glorious high-tech industry that has been built in Israel with great effort over the past three decades.“

The authors later noted the large amounts of money coming to the industry from the U.S. and Europe: „These investors are of course looking for financial returns on their investment, but they also share significant fundamental values with the countries and industries in which they invest.

13.12.2022 - 06:02 [ Techdirt ]

Congress Trying To Sneak Through Internet Link Tax To Funnel Cash To Private Equity Firms That Are Destroying Local Journalism

Congress has a bad habit. They have stopped passing substantive legislation through normal procedure, debate and votes. The legislative process as designed by our Founders is not happening. Instead, Congress is saving most of its actual policy-making legislation for large end-of-the-year bills that can combine hundreds of separate pieces of legislation. And if reports are accurate, we could be shaping up for the granddaddy of them all this December. This process must change, particularly for bills as highly controversial and constitutionally concerning as the misleadingly named Journalism Competition and Preservation Act (JCPA).

08.12.2022 - 04:20 [ EU commission - ec.europa.eu ]

Press statement by President von der Leyen on the ninth package of sanctions against Russia

(7 December 2022)

Second, we propose to introduce sanctions against three additional Russian banks, including a full transaction ban on the Russian Regional Development Bank to further paralyse Putin’s cash machines.

08.12.2022 - 04:01 [ Chris Merchant / NItter ]

The EU prevented the US UK plan to ban either Sberbank or Gazprombank from SWIFT, if the EU had agreed the invasion would have been over in March.

(15.11.2022)

(…)

06.12.2022 - 15:10 [ NBC News ]

Biden vowed ‚consequences‘ for Saudi Arabia after oil production cut. But the U.S. has no plans to follow through.

(03.12.2022)

“This is an eight decades long relationship and we will continue to assess relations with Saudi Arabia methodically and strategically, and in line with what’s in our interests,” one official said in a statement.

“We will judge the way forward based on their actions as well as our ongoing consultations with partners and allies, the new Congress, and the Saudis.”

04.12.2022 - 19:17 [ Wall Street Journal ]

OPEC+ Keeps Oil Curbs Despite Russia Price Cap

During a virtual meeting, the Organization of the Petroleum Exporting Countries and the Russia-led bloc—a group collectively known as OPEC+—decided to maintain production cuts of 2 million barrels a day, initially agreed to in October, OPEC said.

04.12.2022 - 18:11 [ theHill.com ]

OPEC+ agrees to stay with existing oil output targets

Oil-producing alliance OPEC+ agreed on Sunday to keep its same production targets, dealing another setback for the U.S. and western allies seeking to curb high gas prices.

03.12.2022 - 19:47 [ Robert Reich, Berkeley professor, former Secretary of Labor / Nitter ]

Railroads made $21 billion in profits in the first 9 months of 2022. Guaranteeing 7 paid sick days to rail workers would cost the industry $321 million/year. That’s just 1.5% of those profits. Congress just rejected sick leave for these workers. It’s profits over everything.

03.12.2022 - 19:15 [ Fox News ]

‚Political pawns‘: Livid railway workers warn Biden’s union agreement will ‚definitely‘ impact next election

„I work for a Class 1 railroad that implemented one of the most egregious attendance policies (Hi-Viz) that requires us to be available to work 92% of the time per month,“ he said. „If we take off one day for a sickness, we are required to [work] 14 days straight to gain points back. That is why we are fighting tooth and nail for sick days.“

03.12.2022 - 19:10 [ Denver7 – The Denver Channel / Youtube ]

President Biden signs bill that averts rail strike despite opposition from unions

Dec 2, 2022

President Joe Biden signed a bill on Friday that prevents 12 rail unions from going on strike next week. The president signed the bill to head off a potentially crippling supply chain disruption in the weeks leading up to Christmas.

03.12.2022 - 18:19 [ CNBC ]

OPEC+ to consider deeper oil output cuts ahead of Russia sanctions and proposed price cap

OPEC and non-OPEC oil producers could impose deeper oil output cuts on Sunday, energy analysts said, as the influential energy alliance weighs the impact of a pending ban on Russia’s crude exports and a possible price cap on Russian oil.

OPEC+, a group of 23 oil-producing nations led by Saudi Arabia and Russia, will convene on Sunday to decide on the next phase of production policy.

03.12.2022 - 18:09 [ BBC / Youtube ]

G7 and allies approve cap on price of Russian oil – BBC News

It comes after the EU agreed on the price cap after persuading Poland to back it.

The price cap was put forward by the G7 group of nations in September and aims to stop Moscow profiting from oil exports while avoiding a price spike.

01.12.2022 - 20:50 [ IndependentSocialistGroup.org ]

Protest Strikebreaker-In-Chief Biden in Boston!

Join Railroad Workers United (RWU), the Independent Socialist Group (ISG), and the Democratic Socialists of America (DSA) at a protest outside of Biden’s upcoming appearance in Boston. If you are in an organization that would like to endorse this event and is interested in speaking in support of railroad workers, contact:

Nick Wurst, RWU & ISG: 508-335-8633

Paul Bamberger, DSA: 518-860-9378

Day & Time: Friday 12/2 Picket starting 11:30am, Rally starting 12pm. Estimated end time 1:30pm.

Location: Biden will be visiting JFK Library at University Dr N, Boston, MA 02125 for an event. The picket and rally will be held at the corner of University Drive North and Colombia Point, on the parking lot side.

01.12.2022 - 20:22 [ More Perfect Union / Nitter ]

This railroad worker clearly & powerfully explains why workers need to have each other’s backs, ahead of a potential strike: „We’re all part of the working people that make society run…. Without us, nothing could happen. When one of us in under attack, we’re all under attack.“

01.12.2022 - 20:16 [ More Perfect Union - PerfectUnion.us ]

Railroad Strike Ahead? Rail Workers Just Want Sick Leave

Devin Mantz: I voted no on the contract because we deserve more.

Adam Smithey: It does not meet the requirements for quality of life that we need. We need time to sleep, we need time to rest, we need to enjoy our lives. We don’t have any of that now.

Matt Weaver: We’re considered essential employees, and we don’t have a single paid sick day to use when we’re off. We worked through the pandemic, we were considered essential, and now it seems like we’re expendable.

Dave Manning: If a person is sick, they shouldn’t have to use all of their paid days that they had to earn the previous year before to take a day off.

Matt Morty Mortenson: We’re constantly coming to work sick and exhausted.

Reece Murtagh: We routinely work 14 hours and longer every day.

Matt Morty Mortenson: We’ve currently lost 2 BMWED members in the past two weeks and they might have been here today with us if they would have just been able to rest and reset.

01.12.2022 - 20:07 [ Jonah Furman / Nitter ]

People need to understand that we’ve reached this point in rail bargaining because of a failed union strategy to rely entirely on Democratic Party leadership to get a deal, and to avoid anything that could threaten that strategy, from progressive legislation to going on strike

01.12.2022 - 19:59 [ theHill.com ]

Schumer pledges to keep senators in Washington until rail deal is done

“The Senate cannot leave until we get the job done, and Democrats will keep working with Republicans to find a path forward that everyone can support,” he announced on the Senate floor.

The Democratic leader began the so-called Rule 14 process on Wednesday evening to put a House-passed bill to avert the rail strike on the Senate calendar.

01.12.2022 - 19:53 [ @railroadworkers / Nitter ]

This is a legacy defining moment for Joe Biden. He is going down as one of the biggest disappointments in labor history.

(29.11.2022)

01.12.2022 - 19:40 [ White House ]

Statement from President Joe Biden on House Action to Avert Rail Shutdown

(30.11.2022)

This overwhelming bipartisan vote in the House of Representatives makes clear that Democrats and Republicans agree that a rail shutdown would be devastating to our economy and families across the country. The Senate must now act urgently. Without the certainty of a final vote to avoid a shutdown this week, railroads will begin to halt the movement of critical materials like chemicals to clean our drinking water as soon as this weekend.

01.12.2022 - 19:34 [ Steve Morris / Nitter ]

Rail workers: A single day of sick leave please CNN’s coverage today:

(29.11.2022)

01.12.2022 - 19:27 [ Democracy Now ]

House Passes Bill to Block Rail Strike at Urging of President Biden

The House has passed legislation to block a nationwide rail strike by imposing a contract that has been rejected by unions representing the majority of freight rail workers.

29.11.2022 - 18:05 [ trendswide.com ]

Wall Street gains moderately after easing fears over China protests

The National Health Commission affirmed that it will accelerate the vaccination of older adults and softened the tone on the lethality of the most recent variants of Covid-19. News about the real estate sector in that country was also added,” explained the eToro firm. .

29.11.2022 - 17:50 [ Capitality / Nitter ]

U.S. stocks had their worst day in nearly three weeks on Monday as protests in China raised global-growth risks and Fed said more interest-rate increases will be needed to subdue inflation.

(…)

29.11.2022 - 17:43 [ The Art of Hacks Trades / Nitter ]

Chinese Stocks in US Rise, Erasing Drop Triggered by Protests – Bloomberg

28.11.2022 - 22:48 [ CNN ]

Global markets fall after protests erupt in China over Covid lockdowns

European markets opened broadly lower, tracking the performance of Asian shares. The FTSE 100 (UKX) dropped 0.7%, the CAC 40 (CAC40) fell 0.6%, and the DAX (DAX) was down 0.5%.

Earlier, Hong Kong’s benchmark Hang Seng (HSI) Index had finished the day 1.6% lower, after paring some losses.

28.11.2022 - 22:44 [ Fortune.com ]

Amid protests over lockdowns, Goldman Sachs warns that China’s exit from COVID-zero may be ‘forced and disorderly’

China’s climbing COVID caseload and expanding lockdown measures, which prompted rare public protests over the weekend, highlight the risk of an unplanned and chaotic exit from the country’s tough COVID-zero policies, predicts Goldman Sachs.

14.11.2022 - 12:45 [ VisualCapitalist.com ]

Charted: The Global Decline of Fertility Rates

(June 10, 2022)

Lower fertility rates, coupled with increased life expectancies around the world, are creating an aging population. Since 1950, the global median age has grown from 25 years to 33 years.

An older population comes with a number of economic risks, including rising healthcare costs and a smaller global workforce.

06.11.2022 - 12:44 [ New York Times ]

Fueled by Billionaires, Political Spending Shatters Records Again

“We’ve broken records with our broken records,” said Sheila Krumholz, executive director of the nonpartisan Open Secrets, which estimated on Thursday that total spending in 2021 and 2022 would reach $16.7 billion when tallied after Election Day, easily surpassing the previous midterm record of $14 billion set in 2018.

06.11.2022 - 12:28 [ theHill.com ]

Millionaires urge Democrats to include billionaire tax in spending bill

(01.11.2021)

A group of about 250 millionaires on Monday urged top Democrats to include a proposal to tax billionaires‘ investment gains annually in their social-spending package, after the proposal was left out of a framework the White House released last week.

28.10.2022 - 16:24 [ Middle East Eye ]

Opec+ oil cut: The birth pangs of a new world order

Riyadh is apparently set on another course. It intends to join Brics and is increasing its cooperation with China, including through its unprecedented consideration of trading oil for yuan instead of dollars. The UAE is also making moves, with Abu Dhabi Crown Prince Mohammed bin Zayed recently visiting Moscow, and his energy minister saying Russia is irreplaceable in the oil market.

27.10.2022 - 19:49 [ RT.com ]

The US has nothing left to offer the world – Putin

The US no longer has a model which is inspiring to the rest of the world and instead is maintaining its global dominance by throwing its weight around, Russian President Vladimir Putin asserted on Thursday. He added that Washington elites were now even bullying supposed allies who dissent from their neoliberal worldview.

The Russian leader voiced his opinion that „liberal democracy“ has changed beyond recognition and has transformed from a vehicle to promote freedom of speech and expression, to demanding the ‘cancelation’ of anyone with a different perspective.

27.10.2022 - 19:42 [ DailyMail.co.uk ]

Putin’s deluded rant to the world: War-mongerer says ‚western domination is over‘, calls for a ’new world order‘ and warns we have entered the most dangerous decade since WW2

– Putin laid out his thoughts on foreign policy in a rambling speech in Moscow and accused West of fanning flames of war in Ukraine
– Also accused West of rejecting his peace plan and stoking tensions over Taiwan and said area is part of China
– Blamed westerners for causing global food crisis, in what appeared to be an appeal to allies in China and Africa
– It is the latest in series of bitter speeches Putin has given since invading Ukraine on February 24 this y

24.10.2022 - 05:55 [ DailyMail.co.uk ]

Destined for Downing Street? Rishi Sunak could be named PM TODAY after Boris Johnson pulls out of Tory leadership contest and Penny Mordaunt well short of the 100 supporters she needs ahead of 2pm deadline

– Rishi Sunak, who launched his bid yesterday morning, has received public backing of more than 150 Tory MPs
– As of last night, 155 MPs said they are backing Mr Sunak, while 25 had spoken out in support of Ms Mordaunt
– A further 54 who were hoping Mr Johnson would return are yet to publicly reveal to whom they will now back
– Mr Johnson earlier said he had in fact reached the ‚very high hurdle of 102 nominations‘ as he bowed out
– Ms Mordaunt’s team, though, believe his decision to pull himself from the race will ‚propel her over the line‘

21.10.2022 - 19:30 [ CraigMurray.org.uk ]

The Party is Over

It is fascinating that both the Tory and Labour parties have now adopted exactly the same mechanism to prevent the membership electing a leader again with views outside the narrow Establishment consensus – in both parties that mechanism being an increase in the number of MPs who have to nominate, before a candidate can get their name before the party membership.

The professionals are to radically limit the options of the members.

21.10.2022 - 19:10 [ Jeremy Corbyn / Twitter ]

Thanks to everyone who has written in support of my @guardian piece urging radical change. I must make one correction: it’s not about Corbynism. It’s about socialism. The fight for a kinder society is a collective struggle: we owe it to each other to win.

15.10.2022 - 19:44 [ DuckDuckGo.com ]

UK, economy, stimulus

(…)

15.10.2022 - 19:31 [ Simon_Templar2021 PhD / Nitter ]

This country is screwed whosoever in power even if Labour! Tory grassroot members has royally damaged this country by putting a malfunctioning robot Lizbot as PM who lacks a brain like the Scarecrow in the Wizard of Oz! Unfortunately there isn’t a Wizard she can visit to get one!

15.10.2022 - 19:24 [ Jeremy Corbyn / Nitter ]

In 2019, we wanted to borrow money to fund public, regional, green investment that would pay for itself. Truss and Kwarteng want to borrow money to pay for uncapped bankers‘ bonuses. This government have crashed the economy. We would have transformed it.

(12.10.2022)

15.10.2022 - 18:31 [ theGuardian.com ]

Inflation is causing real pain. But raising interest rates will make it worse

(22.08.2022)

The current inflation situation hasn’t been about all goods in the economy getting more expensive at the same rate. Specific goods – food, fuel, cars and housing – have been experiencing massive price shocks, raising the general inflation level substantially. Controlling these changes would require aggregate demand to shrink to unbearable levels for average Americans – essentially making people too poor to buy goods, and thus alleviating bottlenecks. Rate hikes are not only ill suited to bring down these essential prices but risk a recession throwing millions out of work.

15.10.2022 - 18:23 [ CNBC ]

Raising interest rates is the wrong solution to the inflation problem, analyst says

(05.10.2022)

Raising interest rates to tame demand — and therefore inflation — is not the right solution, as high prices have been driven mainly by supply chain shocks, one analyst said.

Global manufacturers and suppliers have been unable to produce and deliver goods to consumers efficiently during Covid lockdowns. And more recently, sanctions imposed on Russia have also curtailed supply, mainly of commodities.

15.10.2022 - 18:12 [ DailyMail.co.uk ]

Interest rates may rise even HIGHER than expected next month, Bank of England chief says if inflation is to be beaten

On September 22 the Bank’s Monetary Policy Committee (MPC) raised rates by 0.5 percentage points to 2.25%.

Speaking at the G30 annual international banking seminar, Mr Bailey said: ‚The UK Government has made a number of fiscal announcements and has set October 31 as the date for a further fiscal statement.‘

He said that the Bank’s monetary policy committee ‚will respond to all this news at its next meeting in just under three weeks from now‘.

15.10.2022 - 18:06 [ James Matthews / Nitter ]

Bank of England governor Andrew Bailey tells IMF event in Washington of conversation with Jeremy Hunt yesterday: “Very clear & immediate meeting of minds on the importance of stability and sustainability.” @SkyNews

15.10.2022 - 17:47 [ SlightlyFaztStockMarketNews / Nitter ]

British government borrowing costs surged again on Wednesday after Bank of England Governor Andrew Bailey told pension funds they had three days to fix liquidity problems before the bank ends emergency bond-buying that has provided support.

(13.10.2022)

07.10.2022 - 12:18 [ Washington Post ]

The Saudi snub of Biden is a disaster. Democrats must respond.

Republicans are surely excited about the news that a group of oil-producing countries led by Saudi Arabia and Russia will slash oil production by 2 million barrels per day. In addition to threatening the global economy, it also could mean the specter of higher energy prices heading into the midterm elections, bolstering GOP attacks at a time when their potency has faded.

07.10.2022 - 12:05 [ New York Times ]

Biden’s Choice After OPEC Cuts: Woo Saudi Arabia, or Retaliate?

Senator Chuck Schumer of New York, the majority leader, said Saudi Arabia’s decision to ally with President Vladimir V. Putin’s Russia to shore up oil prices was a grave mistake.

“What Saudi Arabia did to help Putin continue to wage his despicable, vicious war against Ukraine will long be remembered by Americans,” he said. “We are looking at all the legislative tools to best deal with this appalling and deeply cynical action.”

07.10.2022 - 11:43 [ Oilprice.com ]

Oil Prices Jump As OPEC+ Considers 2 Million Bpd Production Cut

(04.10.2022)

The first rumor was that Russia was pushing OPEC+ to implement a 1 million bpd production cut. The group was later reportedly considering a production cut between 500,000 bpd and 1 million bpd. Shortly after, yet another source said that OPEC+ was considering an even larger cut of more than 1 million bpd. The latest news from OPEC+ delegates suggests that the group is considering yet another option: a 2 million bpd cut.

07.10.2022 - 11:39 [ UkraineNews @Ukraine66251776 Oct 5 ]

OPEC and its allies, including Russia, approved a two million barrel-a-day cut in oil production on Wednesday. Biden is fuming

05.10.2022 - 13:09 [ Oilprice.com ]

Oil Prices Jump As OPEC+ Considers 2 Million Bpd Production Cut

The first rumor was that Russia was pushing OPEC+ to implement a 1 million bpd production cut. The group was later reportedly considering a production cut between 500,000 bpd and 1 million bpd. Shortly after, yet another source said that OPEC+ was considering an even larger cut of more than 1 million bpd. The latest news from OPEC+ delegates suggests that the group is considering yet another option: a 2 million bpd cut.

04.10.2022 - 18:09 [ Haaretz ]

Obama Charges Netanyahu as a World Leader Who Fueled ‚Putinism‘, Report Reveals

„What I worry about most is, there is a war right now of ideas, more than any hot war, and it is between Putinism — which, by the way, is subscribed to, at some level, by [Turkish President Recep Tayyip] Erdogan or Netanyahu or [former Philippines President Rodrigo] Duterte and [former U.S. President Donald] Trump — and a vision of a liberal market-based democracy that has all kinds of flaws and is subject to all kinds of legitimate criticism, but on the other hand is sort of responsible for most of the human progress we’ve seen over the last 50, 75 years,“ he told reporters in off-the-record comments first published by Bloomberg.

03.10.2022 - 18:11 [ Ansa.it ]

Confindustria calls for authoritative new govt ASAP

„We hope for a government with authoritative, competent and irreproachable ministers as soon as possible“.
Brothers of Italy (FdI) leader Giorgio Meloni, who looks set to become the next premier after her right-wing party spearheaded the right coalition to victory, is currently holding a series of meetings on the make-up of the new executive.

26.09.2022 - 18:33 [ Rosa Luxemburg / Leipziger Volkszeitung / marxists.org ]

Peace Utopias

(May, 6/8 1911)

During these fifteen years we had this: in 1895 the war between Japan and China, which is the prelude to the East Asiatic period of imperialism; in 1898 the war between Spain and the United States; in 1899-1902 the British Boer War in South Africa; in 1900 the campaign of the European powers in China; in 1904 the Russo-Japanese War; in 1904-07 the German Herero War in Africa; and then there was also the military intervention of Russia in 1908 in Persia, at the present moment the military intervention of France in Morocco, without mentioning the incessant colonial skirmishes in Asia and in Africa. Hence the bare facts alone show that for fifteen years hardly a year has gone by without some war activity. (…)

Only were one suddenly to lose sight of all these happenings and manoeuvres, and to transfer oneself back to the blissful times of the European concert of powers, could one say, for instance, that for forty years we have had uninterrupted peace. This conception, which considers only events on the European continent, does not notice that the very reason why we have had no war in Europe for decades is the fact that international antagonisms have grown infinitely beyond the narrow confines of the European continent, and that European problems and interests are now fought out on the world seas and in the by-corners of Europe.

Hence the “United States of Europe” is an idea which runs directly counter both economically and politically to the course of development, and which takes absolutely no account of the events of the last quarter of a century.

That an idea so little in accord with the tendency of development can fundamentally offer no progressive solution in spite of all radical disguises is confirmed also by the fate of the slogan of the “United States of Europe.” Every time that bourgeois politicians have championed the idea of Europeanism, of the union of European States, it has been with an open or concealed point directed against the “yellow peril,” the “dark continent,” against the “inferior races,” in short, it has always been an imperialist abortion.

And now if we, as Social Democrats, were to try to fill this old skin with fresh and apparently revolutionary wine, then it must be said that the advantages would not be on our side but on that of the bourgeoisie. Things have their own objective logic. And the solution of the European union within the capitalist social order can objectively, in the economic sense, mean only a tariff war with America, and in the political sense only a colonial race war. The Chinese campaign of the united European regiments, with the World Field Marshal Waldersee at the head, and the gospel of the Hun as our standard – that is the actual and not the fantastic, the only possible expression of the “European State Federation” in the present social order.

22.09.2022 - 18:30 [ financebuzz.com ]

U.S. Net Worth Statistics: The State of Wealth in 2022

For the fourth quarter of 2019, total wealth in the U.S. was $111.04 trillion.

22.09.2022 - 18:18 [ ons.gov.uk ]

Total wealth in Great Britain: April 2016 to March 2018

The total net wealth of private households in Great Britain was £14.6 trillion in April 2016 to March 2018, an increase of 13% in real terms from April 2014 to March 2016, mainly because of increases in private pension and net property wealth.

22.09.2022 - 17:26 [ Reuters ]

SNB to join 75 basis point hike club on Sept 22, inflation yet to peak – Reuters poll

The ECB, for its part, is due to take its key interest rates significantly higher.

22.09.2022 - 17:02 [ MarketWatch.com ]

Bank of England lifts rates by a half-point after 5-4 vote

The Bank of England decided to lift interest rates by a half-point to the highest level since 2008 in a contested decision, as the U.K. central bank joins peers across the globe in trying to bring inflation down by quelling demand.

The vote was 5-to-4 to bring rates to 2.25%, with three members calling for a 75-basis-point hike while one voted for a quarter-point increase. It was the seventh consecutive rate hike for the U.K. central bank.

22.09.2022 - 16:45 [ AZfamily.com ]

How the latest Fed rate hike will affect your credit card bill

Collectively, Americans have nearly $900 billion dollars in credit card debt, and if you carry a balance, your bill is about to get more expensive, as the Federal Reserve raised its key interest rate for the fifth time this year. Currently, the average interest rate on a new credit card offer is more than 21%, according to LendingTree’s Matt Schulz. “You can expect that average to go up to over 22% in the next couple of months because banks don’t tend to waste a lot of time on raising rates when the Fed does,” Schulz said.

15.09.2022 - 13:38 [ More Perfect Union / Nitter ]

BNSF, the railroad owned by Warren Buffett, has sent this letter to Congress urging them to pass legislation that would force rail workers to adopt a contract that contains ZERO paid or unpaid sick days. In the letter, BNSF continues to lie about its sick leave policy

15.09.2022 - 13:15 [ CNN ]

Railroad strike averted after marathon talks reach tentative deal

The deal gives the union members an immediate 14% raise with back pay dating back to 2020, and raises totaling 24% during the five-year life of the contract, that runs from 2020 through 2024. It also gives them cash bonuses of $1,000 a year.

Few other details of the deal have so far been made public. But the statement from Biden indicated that the major issue that had brought the country within a day of its first national rail strike in 30 years had been addressed in the unions’ favor.

14.09.2022 - 16:42 [ Maximillian Alvarez / Nitter ]

On Friday, the US could see its 1st major rail strike and/or lockout since the 90s. MSM has *finally* taken an interest in covering this story but seldom from the workers‘ side. Here’s a thread of our @TheRealNews coverage this year on the long-brewing crisis in the rail industry

14.09.2022 - 16:30 [ Railroad Workers United ]

Welcome to Railroad Workers United

Railroad Workers United is an inter-union, cross-craft solidarity „caucus“ of railroad workers, and their supporters, from all crafts, all carriers, and all unions across North America. We urge union railroaders to continue being active in their craft union AND to join RWU in building solidarity and strength among all rail workers. We work with union rank & file railroad workers, but we welcome yet-to-be organized rail workers as well. In addition, we actively work with other labor and community organizations on issues of mutual concern. We do not accept managers or those who oppose our principles.

14.09.2022 - 16:23 [ theRealNews.com ]

Railroad workers are being ground to dust. Who will help them?

(May 5, 2022)

Jeff Kurtz: Okay, thank you, Max. I’d like the viewers to imagine that their life is a scorecard, because that’s exactly what these workers are facing. They start off with a score of 30 points that they can never exceed that 30 points. They will get four points allocated back to their score. Say they get down to 20 points. If they work 14 days in a row, they will get four points allocated back to their score. But the points that you can lose are really dramatic. So, I mean, you could lose points for an incident. You could lose 15 points for an incident.

There are specific incidents. If you don’t show up for work for whatever reason. We had a gentleman that was in a car wreck, and it wasn’t his fault. He was about a mile from his terminal and his car was totaled. And the supervisor that came out there told him, she said, you’re not going to work. She said, you could be hurt, and we don’t know it. So they, what we call marked this guy off. They marked him off the job. Well, he initially was saddled with a 15 point deduction for not showing up to work. And eventually, I think that the local supervisor protested this, so they only docked him three points.

But this is exactly what’s going on. I heard of a case where a worker, his mother died while he was en route, and the railroad pulled him off the train, and then they tried to dock him points for it. And the stories just go on and on and on. And Max, what you alluded to as far as things getting worse when people aren’t watching, that’s exactly what’s happening.

14.09.2022 - 15:37 [ theHill.com ]

Congress prepares to act on rail strike amid fears of ‘economic catastrophe’

More than 115,000 rail workers will be legally allowed to strike on Friday.

02.09.2022 - 19:49 [ theGuardian.com ]

Energy price inflation: how the UK and EU could fight it

Is there international action that can be taken now?

It appears increasingly likely that some forms of coordinated international action will be taken, mirroring responses to the global financial crisis, the eurozone debt crisis and the Covid pandemic.

The former Italian prime minister Mario Draghi floated the idea of “a cartel of buyers” at a meeting with the US president, Joe Biden, in May. This would involve large oil consumers working together to negotiate prices.

02.09.2022 - 19:15 [ CNBC ]

G-7 nations back plan to cap Russian oil prices in a bid to drain the Kremlin’s war chest

Energy analysts have been highly skeptical about the integrity of the proposal, however, warning the policy could backfire if key consumers such as China and India are not involved.

Oil prices were higher on the news.

01.09.2022 - 16:23 [ Telegraph.co.uk ]

Putin has pulled off a shock win that could destroy the free world

We risk ending up with calamitous poverty, civil disobedience, a new socialist government by next year, a break-up of the UK, nationalisations, price and incomes policies, punitive wealth taxes and eventually a complete economic and financial meltdown and IMF bailout. The situation in the EU is, if anything, worse.

This is not a plea for pacifism, for looking away when Ukraine is being illegally invaded by a savage regime. Britain was – and remains – morally right to back Ukraine in a carefully calibrated way. Instead, this is a plea for an economic counter-offensive, for Liz Truss, the next PM, to tackle Putin’s economic and energy war head-on.

30.08.2022 - 18:13 [ Yahoo.com ]

Could China’s Yuan replace the U.S. dollar as the world’s dominant currency? Here’s how the Asian nation’s trade supremacy is rapidly boosting its reserve status

Meanwhile, the Chinese Yuan has already become a de facto reserve currency in Russia. Russian leadership turned to China after facing sanctions from the West due to its invasion of Ukraine earlier this year. Now, 17% of Russia’s foreign reserves are denominated in yuan. The yuan is also the third most demanded currency on The Moscow Exchange.

As these partnerships become stronger, the yuan’s status as a reserve currency could be further entrenched.

30.08.2022 - 17:57 [ CNN ]

China’s yuan slid to the weakest in two years as hawkish Fed signals more rate hikes

Another driver is from the government’s side, as Chinese authorities were tolerant of a „gradually“ weaker yuan, which can benefit exporters by making the price of their goods more competitive.

29.08.2022 - 12:32 [ GlobalTimes.cn ]

GT Voice: US irresponsible monetary policy catalyst for de-dollarization push

Statistics showed China had surpassed the US to become the largest trading nation in the world from 2013. The US has lost its leadership role in international trade, and now the motivation of avoiding the risk of exchange rate fluctuations is likely to be the catalyst of de-dollarization in the world. In light of the US‘ irresponsible monetary policy, a de-dollarization push will likely be the beginning of the disintegration of Washington’s dollar hegemony.

28.08.2022 - 12:16 [ GlobalTimes.cn ]

China, US’ initial deal on audit cooperation a significant step, but not a ‘once-for-all’ antidote: analysts

China and the US have reached a long-stalled agreement on the year-long audit dispute for listed companies, based on the principles of equality and reciprocity and abiding by each other’s laws, the Chinese securities regulator announced on Friday, marking a significant breakthrough in bilateral auditing cooperation that partially helps to clear delisting clouds hanging over 280 Chinese companies listed in the US.

27.07.2022 - 15:36 [ @BethLynch2020 / Nitter ]

If you’re gonna spend a trillion dollars on the military, pursue GOP’s wet dreams in China, hand 10s of billions to cops and corps, keep Trump’s tax cuts, while also not delivering on debt relief, higher wages, HC, or protecting any of our rights, why does voting for you matter?

25.07.2022 - 16:04 [ New York Times ]

’super‐Europe’

(Nov. 9, 1978)

While the dollar was falling and rising, the Europeans were negotiating a new form of monetary union: the creation of a kind of deutschemark zone in Western Europe. This was no coincidence.

Just as the sovereignty of the nationstate is personified by the ability to create money, so the form and status of international money is an expression of changing power relationships. The events of the last few weeks merely confirm America’s decline and the growing importance of Western Europe, dominated by West Germany.

15.07.2022 - 20:12 [ @SheSaidWhatBul / Nitter ]

Lord Cruddas, ‘the ballot only has credibility if Boris is part of the process.’

15.07.2022 - 20:08 [ Telegraph.co.uk ]

Lord Cruddas threatens to cut off donations to Tory party

(today)

Lord Cruddas, who was last year forced to defend donating £500,000 to the party just three days after he was admitted to the House of Lords, said he wanted Boris Johnson to stay on as Prime Minister.

He said: “If the membership are asked to vote for the last two contenders they will be voting for two people that they do not want on the ballot. The ballot only has credibility if Boris is part of the process.”

15.07.2022 - 20:01 [ @BestForBritain / Nitter.net ]

Nadine Dorries says Boris Johnson should remain in post because „the donors have spoken“.

(06.06.2022)

What about the will of the people?

New snap poll from @OpiniumResearch shows 59% think Tory MPs should vote to remove Johnson as leader today

15.07.2022 - 17:25 [ Buzzfeed ]

“After My Bills Are Paid, I Have Nothing Else”: People Are Sharing How Much Their Monthly Rent Has Gone Up This Year, And I Can’t Believe This Is Legal

Recently, we asked members of the BuzzFeed Community to share how rising rents are affecting them and how they’re coping. Here’s what they had to say:

15.07.2022 - 17:17 [ CNN ]

Average rent in Manhattan jumps to a record $5,000 a month

The median rent — which is the mid-point of all rents — just rose above $4,000 a month for the first time in May.

The average monthly rent — which is the sum of all rents divided by the number of rents included in the data — was even higher at $5,058 in June. That’s up nearly 30% from a year ago and marked the first time the average has gone above $5,000 a month.

30.06.2022 - 08:09 [ CNET.com ]

Ex-Amazon Cloud Worker Found Guilty in Capital One Hack: The huge hack affected more than 100 million US customers.

(June 18, 2022)

„She wanted data, she wanted money, and she wanted to brag,“ Assistant United States Attorney Andrew Friedman said in closing arguments, according to the release. The Justice Department didn’t identify the other organizations affected by Thompson’s activity.

28.06.2022 - 08:23 [ FinancialPost.com ]

Oil rises $2/bbl after G7 vows new Russian sanctions

Oil rose $2 a barrel on Monday on the prospect of even tighter supplies loomed over the market as the Group of Seven nations promised to tighten the squeeze on Russian President Vladimir Putin’s war chest while actually lowering energy prices.

24.06.2022 - 21:55 [ Communist Party of Israel ]

Protest Tent Encampments Spring Up Across Israel Against Soaring Housing Costs

Protesters throughout Israel have set up tents in the street to decry the country’s sky-high housing costs, reminiscent of the massive cost-of-living demonstrations that swept the country in 2011. A protest camp was set up in Tel Aviv on Sunday evening, joining the encampments that have been set up in several locations across the country in recent days. Other encampments were located in Jerusalem, Haifa, Beersheba, Pardes Hanna, Holon and Rosh Ha’ayin. They said that a large demonstration is to take place at Tel Aviv’s Habima Square on July 2

23.06.2022 - 19:58 [ CorporateEurope.org ]

ECJ confirms legality of unfair corporate tribunals in EU trade deals

(30.April 2019)

The European Court of Justice (ECJ) today ruled that provisions for investor-state dispute settlement (ISDS, rebranded as ICS – Investment Court System) in the EU-Canada trade deal CETA are compatible with EU law.

This decision dangerously legitimises a mechanism that enables companies to claim multi-billion sum damages from governments that dare to stand up to their power. The ruling also comes as a blow to millions of citizens who have spoken out against this parallel justice system for corporations, most recently, more than 555,000 petitioners from all over Europe demanded an end to the ISDS system in all its forms.

23.06.2022 - 19:40 [ Reuters ]

German parties agree to ratify EU-Canada free trade deal

It has been provisionally in force since September 2017 but has to be ratified by the 27 members of the EU. So far, 15 EU member states had notified the European Council of completing of the ratification procedures.

22.06.2022 - 16:25 [ Haaretz ]

‘The Situation Is Worse Now’: Why Young Israelis Are Pitching Protest Tents in the Streets Again

The 2022 tents on Rothschild Boulevard went up a full week after the launch of the current protest movement, which officially began on June 13. On that day, the first tent compounds were seen in the north and south of the country – first in Pardes Hannah, and then Be’er Sheva, followed quickly by similar efforts in Holon and Rosh Ha’ayin, and subsequently Ramat Gan, Herzliya, Kfar Sava and elsewhere.

The fact that the current movement emerged – and is growing – in the periphery “testifies to the fact that it’s a truly grassroots phenomenon, and suffering is happening around the country,” says Guy

21.06.2022 - 06:50 [ Vincent Manancourt / Nitter.net ]

A flyer for the conference gives a taste of the fare on offer. „Social media monitoring“, „defeating encryption“, „TOR/DarkNet traceback“ etc. etc. 2/3

(14.06.2022)

17.06.2022 - 05:32 [ NewStatesman.com ]

Is recession the Bank of England’s only choice?

With inflation still climbing, today the Bank of England has brought out the big guns, raising interest rates by 0.25 percentage points to 1.25 per cent – pushing the cost of borrowing to its highest since February 2009. It joins the US Federal Reserve, its cousin across the Atlantic, which yesterday raised rates by 0.75 percentage points – its biggest rise in almost 30 years.

17.06.2022 - 05:02 [ theHill.com ]

Mortgage rates hit 5.78 percent in record spike

That means a monthly mortgage payment on a roughly median-valued $400,000 home, after a 20 percent down payment, would now be $1,874. Last year, the monthly payment on the same home would have been $1,335 — a difference of more than $500.

17.06.2022 - 04:59 [ theHill.com ]

On The Money — Biden tamps down recession fears as Dow plunges

President Biden on Thursday said that a recession is not inevitable in the wake of the Federal Reserve’s decision to raise interest rates at the quickest pace in nearly 30 years.

“First of all, it’s not inevitable,” Biden told The Associated Press in an exclusive interview. “Secondly, we’re in a stronger position than any nation in the world to overcome this inflation.”

17.06.2022 - 04:15 [ ABC News ]

Fed’s aggressive rate hikes raise likelihood of a recession

Each rate hike means higher borrowing costs for consumers and businesses. And each time would-be borrowers find loan rates prohibitively expensive, the resulting drop in spending weakens confidence, job growth and overall economic vigor.

“There’s a path for us to get there,“ Powell said Wednesday, referring to a soft landing. „It’s not getting easier. It’s getting more challenging”

It was always going to tough: The Fed hasn’t managed to engineer a soft landing since the mid-1990s.

17.06.2022 - 04:10 [ CNN ]

Opinion: The Fed’s latest rate hike will be a disaster for the economy

Using the Federal Reserve’s rule of thumb that for every $1 loss in wealth, households reduce spending by 4 cents, the decline in asset prices to date will almost certainly result in consumers cutting back spending.
Such a prospectively large decline in consumer spending is the last thing that an already slowing US economy needs. This is especially the case at a time when consumer spending is already being constrained by sky high gasoline and food prices.

17.06.2022 - 03:56 [ theHill.com ]

Fed hikes rates by 75 basis points for first time since 1994

(15.06.2022)

“The invasion of Ukraine by Russia is causing tremendous human and economic hardship. The invasion and related events are creating additional upward pressure on inflation and are weighing on global economic activity. In addition, COVID-related lockdowns in China are likely to exacerbate supply chain disruptions,” the FOMC said in a statement announcing the interest rate hike.

06.06.2022 - 16:55 [ @BestForBritain / Nitter.net ]

Nadine Dorries says Boris Johnson should remain in post because „the donors have spoken“.

What about the will of the people?

New snap poll from @OpiniumResearch shows 59% think Tory MPs should vote to remove Johnson as leader today

06.06.2022 - 16:51 [ theSun.co.uk ]

MONEY TALKS: Big Tory donors plead with MPs not to ditch Boris Johnson

Big names include billionaire JCB boss Lord Bamford, property magnate Sir Tony Gallagher and Carphone Wearhouse founder David Ross.

Other names include multimillionaire financier Howard Shore and mega rich Simon Rueben – who alongside brother David is worth £16bn.

21.05.2022 - 11:45 [ World Economic Forum ]

World Economic Forum Annual Meeting: List of confirmed Public Figures

Heads of State and Government 50
Foreign Affairs 30
Finance / Economy 43
Trade / Commerce / Industry 27
Central Bank 7
International Organizations 36
Digital / Information, Communication and Technology 11
Energy and Resources 11
Environment 17
Health 6
Labor / Social Affairs / Education 6
Transport and Infrastructure 5
Defence and Intelligence Chiefs 3
Others 58

07.05.2022 - 10:29 [ Iran Chamber of Commerce, Industries, Mines and Agriculture ]

Iran’s trade with Shanghai Cooperation Organization members increases to $37 billion

China, Afghanistan (which has observer SCO status), and India were the top three SCO importers of Iranian goods last year, he added.

The SCO is a transcontinental political, economic, security, and military alliance, comprising China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan.

Iran had its full membership in the organization approved in 2021. Previously, it held observer status in the organization.

05.04.2022 - 20:51 [ Seán Kelly MEP, MEP Ireland South | Leader @FineGael in EP / Twitter ]

Images of the massacre of civilians in #Bucha and the Russian war crimes in Ukraine are truly heartbreaking. Along with 207 MEPs, the @FineGael Delegation is calling for an embargo on Russian energy imports, exclusion of ALL Russian banks from SWIFT + ban Russia from EU ports.

05.04.2022 - 20:29 [ Inna Sovsun, Member of #Ukraine Parliament / Twitter ]

The EU boasted of #Russia’s disconnection from SWIFT. But they shut down only 7 of 300 banks. The largest bank, Sberbank, evaded sanctions. And Gazprombank too.

This bank helped Russian Defense Ministry buy unmanned aerial vehicles & electronic reconnaissance equipment.

05.04.2022 - 20:23 [ bank-code.net ]

GAZPRUMM XXX – SWIFT Code (BIC) – GAZPROMBANK (JOINT – STOCK COMPANY) in MOSCOW – RUSSIAN FEDERATION

GAZPRUMM swift code is the unique bank identifier for GAZPROMBANK (JOINT – STOCK COMPANY)’s head office branch located in MOSCOW – RUSSIAN FEDERATION and it’s used to verify financial transactions such as a bank wire transfers (international wire transfers). Check the GAZPRUMMXXX SWIFT / BIC code details below.

05.04.2022 - 20:18 [ BBC ]

EU targets Russian coal and ships in new sanctions

EU officials had earlier indicated the focus would be on enforcing existing measures.

22.03.2022 - 19:31 [ Michael Knigge / Twitter ]

Germany’s finance minister Christian Lindner wants to restart negotiations for a transatlantic free trade agreement. “The current crisis shows how important free trade w/ partners who share our values is,” he told Handelsblatt, adding that TTIP is a lesson.

(20.03.2022)

18.02.2022 - 07:22 [ MarketWatch.com ]

Canadian banks restrict funds to trucker protest groups

The trade group for Canada’s biggest banks on Wednesday said lenders will work to carry out an emergency order from the government to freeze bank accounts for truckers and their parent companies involved in illegal blockades to protest COVID-19 requirements.

The Canadian Bankers Association said its members will “diligently implement” measures laid out by Prime Minister Justin Trudeau to impose 30-day suspensions of bank accounts associated with the protest.

18.02.2022 - 06:43 [ Ezra Levant / Twitter ]

Trudeau’s finance minister, who happens to be a director of Klaus Schwab’s World Economic Forum, tells Canadians she is spying on their every financial move.

Is Schwab trying to destabilize Canadian banks? I can’t think of anything that could destroy confidence in Canada faster.

13.11.2021 - 18:00 [ Haaretz ]

Netanyahu’s Ex-spin Doctor Is About to Reveal How the Corrupt System Works

The man who will take the witness stand in Jerusalem’s District Court on Tuesday is a refined embodiment of the Israeli power structure. Nir Hefetz was once the right-hand man of the country’s three dominant alpha males: former Prime Minister Benjamin Netanyahu, Yedioth Ahronoth publisher Arnon Mozes and one-time tycoon Nochi Dankner.

There’s no better indicator of the judgment and moral compass of the men who presided over the nation’s government, media and economy.

10.11.2021 - 16:50 [ Washington Post ]

Pfizer asks FDA for broader authorization of vaccine booster

Pfizer and its German partner, BioNTech, on Tuesday asked the Food and Drug Administration to authorize a booster dose of its coronavirus vaccine for people 18 and older.

The FDA could clear the request by the end of the month, according to health officials who spoke on the condition of anonymity because they were not authorized to discuss the issue.

10.11.2021 - 16:35 [ theHill.com ]

Pfizer expects $36 billion in sales from COVID-19 vaccine

(02.011.2021)

Pfizer expects to earn about $36 billion in revenue this year from the COVID-19 vaccine developed with BioNTech, the company announced Tuesday, an increase from the previous estimate of $33.5 billion.

During an earnings call, CEO Albert Bourla said the vaccine contributed $13 billion in revenue during the third quarter alone, bringing total revenue this year to $24.3 billion.

The company forecasts another $29 billion in sales in 2022.

02.11.2021 - 10:02 [ theHill.com ]

Millionaires urge Democrats to include billionaire tax in spending bill

A group of about 250 millionaires on Monday urged top Democrats to include a proposal to tax billionaires‘ investment gains annually in their social-spending package, after the proposal was left out of a framework the White House released last week.

11.10.2021 - 02:35 [ Japan Today ]

The ‚zombification‘ of married life

Married couples are “zombifying,” is the magazine’s melancholy conclusion. Instead of divorcing, as they once might have, they grimly endure each other. It’s better, or seems so, than the foreseeable alternatives – prominent among them financial insecurity amid declining wages and emotional insecurity as the lingering COVID-19 crisis corrodes the strength to face the world alone.

There are no doubt many reasons why marriage, so hopefully embarked upon, so quickly turns sour for so many. Spa! zeroes in on one – the double-income household.

07.10.2021 - 11:55 [ Standard.co.uk ]

UK gas prices fall from record high after Russia steps in

Following Mr Putin’s comments on supplies, gas prices dropped to about 257p a therm later on Wednesday.

07.10.2021 - 11:38 [ euobserver.com ]

Putin offers to ease EU gas crunch

Deputy prime minister Alexander Novak urged German regulators to quickly certify the Nord Stream 2 pipeline to help.

04.10.2021 - 04:12 [ theGuardian.com ]

Surge in UK wholesale gas prices fuels winter energy crisis fears

(28.09.2021)

European gas prices rose by 10%, with price pressure exacerbated by a dwindling supply from Russia.

Supply dropped on Tuesday as the flow of Russian gas via the Yamal-Europe pipeline fell by more than half, the Interfax news agency reported, citing data from the grid operator Gascade.

The situation in the UK, where market prices have quadrupled in the past year, is particularly acute.

04.10.2021 - 03:57 [ energyvoice.com ]

Gazprom warns of a gas-short winter for Europe

(20.09.2021)

“The gap in terms of injecting gas into European [underground gas storage] UGS facilities cannot be closed. Europe is going to enter the autumn/winter period with a gas shortage in its UGS facilities. The question is, how big is the shortage going to be?” the Russian executive said.

“They might even break new records very soon,” Miller said. He went on to note that despite European prices, Asian markets continued to pay a premium. As a result, gas is flowing into Asia.

02.10.2021 - 18:47 [ World Economic Forum ]

The Great Reset

There is an urgent need for global stakeholders to cooperate in simultaneously managing the direct consequences of the COVID-19 crisis. To improve the state of the world, the World Economic Forum is starting The Great Reset initiative

02.10.2021 - 15:59 [ CNBC ]

The U.S. and EU discuss ways to solve the global chip shortage: Here’s what you need to know

(30.09.2021)

In addition, although the final statement doesn’t mention China, some of the pledges certainly seemed to be targeted at Beijing.

“We intend to work closely together to address non-market, trade-distortive policies and practices, improve the effectiveness of our respective domestic measures,” the U.S. and the EU said.

Officials have on numerous occasions criticized Beijing for not giving the same level of access to foreign business as to what is granted to Chinese companies abroad.

27.09.2021 - 15:55 [ TodayUKNews.com ]

Europe still lacks a unifying vision

This is not to say that strategic autonomy is a bad idea — or that the EU is doomed to geopolitical irrelevance. The prospect of a trade deal with Europe or the threat of EU sanctions can shape the behaviour of countries all over the world. But economic power and moral suasion are not always an adequate substitute for military might. (As Stalin once reportedly asked: “How many divisions has the pope?”)

01.09.2021 - 10:00 [ Forbes ]

The War In Afghanistan Cost America $300 Million Per Day For 20 Years, With Big Bills Yet To Come

(16.08.2021)

Naturally, the United States has financed the Afghan war with borrowed money. Brown University researchers estimate that more than $500 billion in interest has already been paid (included in the $2.26 trillion total sum), and they figure that by 2050 the cost of interest alone on our Afghan war debt could reach $6.5 trillion. That amounts to $20,000 for each and every U.S. citizen.

31.08.2021 - 18:46 [ Glenn Greenwald / Twitter ]

This is a very smart and insightful article on why groupthink is so pervasive among corporate journalists — especially those online — and why both the miserable economics and miserable culture of the media corporations where they work require conformity and herd behavior:

31.08.2021 - 18:35 [ Ross Barkan / Substack ]

The Problem With Media

This is the tragedy. The local news die-off is real and lasting. Whole regions of the country now lack reliable news. The suffering is not always obvious because it is more about absence than outright destruction. Today’s 28-year-old living in an exurb doesn’t understand how much coverage of a town meeting, a county executive’s office, or a public school they would’ve read 20 or 30 years ago. They merely see nothing and learn to live with it. Many of the remaining small newspapers hardly function at all; they are living ghosts printing wire copy.

24.08.2021 - 06:33 [ marketwatch.com ]

Pfizer, BioNTech stocks rise on report FDA could fully approve COVID-19 vaccine

(20.08.2021)

Late Friday, The Wall Street Journal and The New York Times reported that the FDA could approve the vaccine, which up until now has been distributed on an emergency basis, as early as Monday but could possibly go past that if regulators need more time to review data.

23.08.2021 - 22:31 [ Xinhuanet ]

Taliban appoints acting head for Afghan central bank: spokesman

The Taliban appointed Hajji Mohammad Idress as acting general director of the central bank „in efforts to align and arrange banking procedures and find a solution to people’s trade problem and difficulties,“ Taliban spokesman Zabihullah Mujahid wrote on his social media account.

14.08.2021 - 15:45 [ Bloomberg ]

Deutsche Bank, Standard Chartered Sued Over Afghanistan Dead

(05.08.2021(

The banks and two money transmitters functioned as “laundromats,” allowing terrorist financiers to secretly move money and evade detection, according to the lawsuit. Transactions involving syndicate agents, operatives and fronts in countries including Afghanistan, Pakistan, Russia and the United Arab Emirates raised red flags that they were dealing with terrorist money, the suit claims.

04.08.2021 - 13:29 [ The People’s Party / Twitter ]

Nina’s unfortunate loss is further proof that working with the Democrats is a dead end road for folks seeking to challenge the status quo. Democrats will spend millions of dollars (at a time like this!) and pull out all the stops to undermine candidates fighting for the people.

28.07.2021 - 08:12 [ UrduPoint.com ]

WTO Members Fail To Agree On Patent Waiver For COVID-19 Vaccines

The World Trade Organization member countries have failed to reach a consensus on a temporary waiver of intellectual property rights for COVID-19 vaccines, WTO spokesman Keith Rockwell said on Tuesday following the General Council session. According to Okonjo-Iweala, the WTO member countries will make a decision by the 12th WTO ministerial conference, which will take place in late November-early December.

28.07.2021 - 07:34 [ Laura Marston / Twitter ]

Tomorrow is the 100 year anniversary of the discovery of insulin. In 1921, insulin’s discoverers sold its patent for $1 so insulin would be affordable to all. Today, a single vial of insulin that lasts me about a week is priced at $300+, only in the United States.

(26.07.2021)

27.07.2021 - 02:10 [ Bloomberg.com ]

U.S., China Leave Room to Talk After Contentious Meeting

The U.S. and China left open the possibility of a summit between their presidents despite a contentious day of talks between officials from both sides in the city of Tianjin.

27.07.2021 - 02:02 [ Bloomberg.com ]

Technology – China Crackdown Rocks Investors: ‘Everybody’s in the Crosshairs’

The crash in tutoring stocks that began late last week spread Monday across the tech sector and beyond, after authorities confirmed reports they would ban a swathe of the education industry from making profits. It’s the government’s most extreme step yet to rein in private businesses that regulators blame for exacerbating inequality, increasing financial risk and — in the case of some tech titans –- challenging Beijing’s authority.

19.07.2021 - 16:05 [ Jacobin ]

Were Haiti’s Capitalists Behind the Assassination of President Moïse?

(09.07.2021)

Haitian president Jovenel Moïse was assassinated this week by alleged mercenaries. In an interview with Jacobin, the English language editor of Haiti Liberté says he suspects that some of Haiti’s richest families hired the attackers to preempt a potential revolution — and possibly even trigger US military intervention.

09.05.2021 - 06:31 [ UltraSurfing.com ]

EU and India agree to restart trade talks at ‚landmark‘ summit

“The EU and India are opening a new important chapter in our relationship. We are the world’s two largest democracies. We are natural partners,” European Council chief Charles Michel said.

08.05.2021 - 22:07 [ ABC News ]

EU agrees potential 1.8 billion-dose purchase of Pfizer jab

The European Union cemented its support for Pfizer-BioNTech and its novel COVID-19 vaccine technology Saturday by agreeing to a massive contract extension for a potential 1.8 billion doses through 2023.

EU Commission President Ursula von der Leyen said her office has approved a contract for a guaranteed 900 million doses with the same amount of doses as a future option.

08.05.2021 - 21:55 [ Financial Times ]

Merkel opposes US move to waive vaccine IP, the drive behind the commodity supercycle

German chancellor says waiver would have serious implications for production worldwide

07.05.2021 - 00:19 [ Yahoo.com ]

Pfizer, Moderna shares plummet after Biden administration backs a COVID-19 vaccine patent waiver

The Biden administration „believes strongly in intellectual property protections,“ Tai said in a statement, but the White House will back the waiver given the „extraordinary circumstances of the COVID-19 pandemic.“ The administration has faced pressure to support the measure, which is aimed at increasing vaccinations around the world — especially in countries experiencing a surge in infections, like India — without having to rely solely on exports.