Germany Edging Closer To Government
Germany, Europe’s largest economy, came a step closer to having a new government Thursday some 10 days after the German center-left Social Democrats won parliamentary elections.
Economy
US slightly revises up its GDP estimate for Q2 to 6.7%
The U.S. economy expanded at a 6.7% annual pace from April through June, the Commerce Department said Thursday, slightly upgrading its estimate of last quarter’s growth in the face of a resurgence of COVID-19 in the form of the delta variant.
Tough Coalition Talks Underway in Germany
Tough coalition talks have begun in Germany after the center-left Social Democrats (SPD) claimed a narrow victory in Sunday’s federal election. They defeated the conservative block of outgoing Chancellor Angela Merkel, who ruled Germany for 16 years.
Germany’s Leftists Beat Merkel’s Conservatives In Election
Germany’s center-left Social Democrats (SPD) have claimed victory in the federal parliamentary election in a significant political turnaround. The outcome came as a setback for the party of outgoing Chancellor Angela Merkel, who ruled Germany for 16 years.
‘Germany’s Merkel Conservative Block Losing Elections, Leftists Win’
In a postwar political turnaround, Germany’s center-left Social Democrats (SPD) were moving towards election victory, as projected results appeared bleak for the party of outgoing Chancellor Angela Merkel.
Germany’s Outgoing Chancellor Merkel Allies Face Tough Election
Germany’s closely fought election on Sunday will set the direction of the European Union’s largest economy following 16 years under Angela Merkel. However, the party of the departing chancellor is scrambling to avoid defeat by its center-left rivals after a rollercoaster campaign.
China Sends Fighter Planes Into Taiwan’s Defense Zone
China sent 24 fighter planes, including two capable nuclear bombers, towards Taiwan on Thursday after the self-governing island said it plans to join an 11-nation Pacific trade group, the Taiwanese military said.
China asks local goverments to get ready for possible collapse of Evergrande
Chinese authorities are asking local governments to prepare for the potential downfall of China Evergrande Group, according to officials familiar with the discussions, signaling a reluctance to bail out the debt-saddled property developer while bracing for any economic and social fallout from the company’s travails.
Fed officials expect higher unemployment rates by year end, signal stimulus easing, interest hike
Fed officials on Wednesday downgraded their forecast for the U.S. unemployment rates, with expectations that inflation and joblessness will rise before the end of the year.
Iran Releases Two Jailed Christians, But Concerns Remain
Iranian Christians are “thankful” that Iran has released two jailed Christians on bail but remain concerned about the whereabouts of their friend, Worthy News established Wednesday.
Canada’s Prime Minister Barely Wins Snap Election
Canada’s Prime Minister Justin Trudeau’s claimed victory in elections Monday but failed in an attempt to extend his power base in Parliament.
Lebanon: Parliament approves new government, PM calls for IMF talks
Lebanese lawmakers approved Prime Minister Najib Mikati’s new cabinet on Monday, in a move that aims to remedy the country’s devastating economic crisis.
UN Secretary-General Seeks New World Order, Peace Governance
United Nations Secretary-General Antonio Guterres wants a new U.N.-led world order that includes a “New Agenda for Peace,” a new financial system, and global vaccinations.
US databases in hands of Taliban could be used to target Afghans who worked with America
It appears that massive databases built by the US and its allies for the Afghan people have now fallen into the hands of the Taliban, and may be used to identify and persecute locals who worked with America during its 20-year war in Afghanistan, Associated Press (AP) reports.
Australian Victorian Premier says the state is heading for a ‘vaccine economy’
Victorian Premier Daniel Andrews has sent a clear message as to what the future of the economy looks like in the state, saying proof of double vaccination will now be the price of entry.
US Economy Abruptly Slowing Adding Only 235,000 Jobs
U.S. President Joe Biden suffered another setback Friday as latest data showed the economy slowing abruptly last month, adding only 235,000 jobs.
Key inflation indicator jumps 3.6 percent, fastest rise in 30 years
A key inflation indicator rose 3.6 percent in July from last year — its biggest year-over-year jump in 30 years — as costs continued to build in the US economy, the feds said Friday.
US: Economy Advanced 6.6% from April to June
The United States said Thursday its economy grew at an annualized 6.6% rate in the April-to-June period as the world’s largest economy continued its recovery from the coronavirus pandemic.
Biden seeks cyber solutions from tech and business execs at White House summit
President Biden asked executives from major tech companies, banks, and other businesses taking part in a White House summit Wednesday to brainstorm solutions to the onslaught of hacks and cyberattacks damaging the country’s economy.
Iran’s Internet Restrictions Threaten Underground Church
Christians in Iran meeting mostly in secret house groups to avoid detection by police face new challenges as the Islamic government seeks more internet restrictions, according to sources familiar with the situation.