Group items matching

in title, tags, annotations or url

As natural gas prices in Europe continue to hit record highs, utility companies in Germany are scrambling to secure millions of euros in extra liquidity to ensure they can meet future contracts.

Last week, another leading German utility, Uniper, announced that high energy prices had forced it to seek extra credit worth 10 billion euros ($11.4 billion). Most of the money, €8 billion, came from Uniper’s parent company, Fortum, based in Finland. The rest is from Germany’s state-owned development bank, KfW, and was secured as a backup to mitigate future price swings, the company said.

Other German energy companies, including RWE and EnBW, said that they had taken similar steps to ensure they had sufficient credit to weather the volatility in the European energy market, but declined to give details.

WELLINGTON, New Zealand -- The tsunami threat around the Pacific from a huge undersea volcanic eruption receded Sunday, but the massive ash cloud covering the tiny island nation of Tonga prevented surveillance flights from New Zealand to assess the extent of damage.

In Tonga it sent tsunami waves crashing across the shore and people rushing to higher ground.

The eruption cut the internet to Tonga, leaving friends and family members around the world anxiously trying to get in touch to figure out if there were any injuries. Even government websites and other official sources remained without updates on Sunday afternoon.

in the first half of 2021, according to the National Highway Traffic Safety Administration, motor vehicle deaths were up 18.4 percent even over 2020. Contributing factors, according to the agency, included driving under the influence, speeding and failure to wear a seatbelt.

Why are so many Americans driving irresponsibly?

“All Kinds of Bad Behavior Is on the Rise.” Not only is reckless driving on the rise, Yglesias pointed out, but the number of altercations on airplanes has exploded, the murder rate is surging in cities, drug overdoses are increasing, Americans are drinking more, nurses say patients are getting more abusive, and so on and so on.

The average U.S. physician earns $350,000 a year. Top doctors pull in 10 times that.

The figures are nigh-on unimpeachable. They come from a working paper, newly updated, that analyzes more than 10 million tax records from 965,000 physicians over 13 years. The talented economist-authors also went to extreme lengths to protect filers’ privacy, as is standard for this type of research.

By accounting for all streams of income, they revealed that doctors make more than anyone thought — and more than any other occupation we’ve measured. In the prime earning years of 40 to 55, the average physician made $405,000 in 2017 — almost all of it (94 percent) from wages

Cocaine production is at global highs. Seizures of amphetamine and methamphetamine have exploded. The multiyear pandemic deepened personal burdens and fomented an increase in use.

In the United States alone, overdose deaths, fueled by opioids and deadly synthetic fentanyl, topped 100,000 in both 2021 and 2022 — or double what it was in 2015.

Across the Atlantic in Europe, tiny Portugal appeared to harbor an answer. In 2001, it threw out years of punishment-driven policies in favor of harm reduction by decriminalizing consumption of all drugs for personal use, including the purchase and possession of 10-day supplies.

Tech giants Microsoft and Alphabet/Google have seized a large lead in shaping our potentially A.I.-dominated future. This is not good news. History has shown us that when the distribution of information is left in the hands of a few, the result is political and economic oppression. Without intervention, this history will repeat itself.

The fact that these companies are attempting to outpace each other, in the absence of externally imposed safeguards, should give the rest of us even more cause for concern, given the potential for A.I. to do great harm to jobs, privacy and cybersecurity. Arms races without restrictions generally do not end well.

We believe the A.I. revolution could even usher in the dark prophecies envisioned by Karl Marx over a century ago. The German philosopher was convinced that capitalism naturally led to monopoly ownership over the “means of production” and that oligarchs would use their economic clout to run the political system and keep workers poor.

in the wake of the Covid pandemic and the war in Ukraine, an important shift has taken place. Rather than mere electoral contenders or shapers of public opinion, Europe’s far-right parties now appear as plausible and normal forces of government. Long a purely oppositional force, they are moving into the halls of power.

Since the signing of the Maastricht treaty in 1991, which locked in low public spending and deflation, European politicians have increasingly become beholden to business interests at the expense of citizens. Through this process, which the political scientist Peter Mair termed “elite withdrawal,” representatives grew hesitant to make grand promises to voters, lest any threaten their pro-market policies.

By invoking the threat of impending right-wing extremism, mainstream politicians could present themselves as the lesser evil. As long as their power was untouched, politicians seemed relaxed about how political common sense — notably on immigration and welfare — slipped ever farther to the right.

Schlögel makes the argument that the Soviet Union is best understood not primarily as the manifestation of rigid Communist ideology, but as an attempt to transform an agrarian peasant society into a fully modern state

“A ‘Marxist theory,’” he writes, “yields very little for an understanding of the processes of change in postrevolutionary Russia. We get somewhat nearer the mark if we explore the scene of a modernization without modernity and of a grandiose civilizing process powered by forces that were anything but civil.” In other words, the interminable debates about whether Lenin was the St. Paul of communism or its Judas Iscariot are beside the point: As a Marxist might put it, the history of the Soviet Union is best explained by material conditions.

the story one pieces together from his chapters goes something like this. In the years between 1917 and 1945, the Russian Empire ceased to be a semi-feudal aristocracy governed by an absolutist monarch whose rule rested on divine right, and became an industrialized state. It dammed rivers, electrified the countryside, built massive factories and refineries, collectivized agriculture, raised literacy rates, set up palaces of culture, created a modern military, and made the Soviet Union one of the most powerful countries in the world. In the course of doing so, it sent some of its best minds into exile, crippled its system of food production, set up a massive network of prison camps, watched millions of its citizens die of hunger, killed hundreds of thousands more through slave labor and forced relocation, and executed a generation of revolutionary leaders. It did all this while surviving one of the most brutal civil wars of the twentieth century and the largest land invasion in history.

When the stock market crashes, “higher for longer” will become a thing of the past as the Fed makes an abrupt pivot. Then the 10-year yields and U.S. dollar will come tumbling down.

The Federal Reserve’s policies are threatening U.S. financial markets and the economy. They are in danger of a steep recession and the risk of a repeat of 1987’s Black Monday.

Early in the pandemic, the volume of U.S. dollars in circulation soared. For two years starting in March 2020, the M2 money supply—a measure of the cash and checkable deposits in circulation plus savings deposits and other easily convertible assets—grew at an unprecedented annualized rate of 16.5%. That is more than three times the appropriate rate for hitting the Fed’s 2% inflation target.

hree 30-something labor activists were brought in by new UAW President Shawn Fain to remake the union into a more independent, media savvy and creative challenger to car companies.

They included a communications specialist who helped craft campaigns for Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez, a New York labor attorney who once wrote on progressive labor issues and a former reporter who later would help win major concessions from the New York Times for the NewsGuild of New York.  

The result was a sharper and more bitter collective-bargaining battle with Detroit—and one of the biggest wins in decades.

Last year, people 65 and older died from Covid at lower rates than in previous waves. But with Omicron and waning immunity, death rates rose again.

Despite strong levels of vaccination among older people, Covid killed them at vastly higher rates during this winter’s Omicron wave than it did last year, preying on long delays since their last shots and the variant’s ability to skirt immune defenses.

“This is not simply a pandemic of the unvaccinated,” said Andrew Stokes, an assistant professor in global health at Boston University who studies age patterns of Covid deaths. “There’s still exceptionally high risk among older adults, even those with primary vaccine series.”

visitors watched in disbelief as he began pounding on the glass that shields the painting. Then, Mr. Sundberg said, the man smeared what appeared to be cake all over the glass protecting what is one of the world’s most recognizable pieces of art.

The painting was not damaged,

“He threw a whole bunch of roses at me and then he started yelling,”

Coronavirus infections surged in South Africa in recent months despite research suggesting that about 98 percent of the population had some antibodies from vaccination, previous infection, or both.

But though the vast majority of the South African population had antibodies against the virus, many still became infected in the latest virus wave, which began in April and was driven by BA.4 and BA.5, new subvariants of Omicron.

New daily deaths also rose

Iraq was the top target for China's Belt & Road infrastructure initiative in 2021, receiving $10.5 billion in financing for projects including a heavy oil power plant, a study published on Wednesday said.

In total, China's engagement through investments and contractual cooperation across the 144 Belt & Road Initiative (BRI) countries was $59.5 billion, in line with the $60.5 billion in 2020, according to the report by the Green Finance & Development Center at Shanghai's Fudan University.

However, in Arab and Middle Eastern countries, investment last year rose by about 360% and construction engagement by 116% compared to 2020, the study said.Register now for FREE unlimited access to Reuters.comRegisterIraq, where the United States ended its combat mission last year, has become the third-biggest partner in BRI for energy engagement since 2013, after Pakistan and Russia, the study said.

As tensions rose between Russia and the United States, Russian authorities detained Brittney Griner, a W.N.B.A. star, on drug charges.

Russia is talking about potentially serious charges.The Russian Federal Customs Service said that a sniffer dog had prompted it to search the carry-on luggage of an American basketball player at the Sheremetyevo airport near Moscow, and that it had found vape cartridges containing hashish oil. A state-owned Russian news agency then identified the player as Ms. Griner.

Hashish oil is a marijuana concentrate that has a high concentration of the psychoactive chemical THC, and it is commonly sold in cartridges that are used in vape pens.

in the spring of 2021, Brown told me his alarm had only grown. “The crisis for the Church is a crisis of discernment,” he said over lunch. “Discernment”—one’s basic ability to separate truth from untruth—“is a core biblical discipline. And many Christians are not practicing it.”

Paul’s admonishment of the early Church contains no real ambiguity. Followers of Jesus are to orient themselves toward his enduring promise of salvation, and away from the fleeting troubles of humanity.

To many evangelicals today, the enemy is no longer secular America, but their fellow Christians, people who hold the same faith but different beliefs.

The rise of the influencer Andrew Tate has vindicated the decision to show Eton College pupils a controversial video on masculinity, according to the master who was sacked for doing so.

It also stated that “male aggression is a biological fact” and aired concerns about women competing in sports against transgender women.

“I think Tate is a symptom of what’s currently going wrong regarding the teaching of boys in schools,” Knowland said from his home in Stowmarket, Suffolk.

The immediate global implications will be higher inflation, lower growth and some disruption to financial markets as deeper sanctions take hold.

Sanctions after the invasion of Crimea did not prevent BP, ExxonMobil or Shell from investing in Russia, while American penalties on Rusal, a Russian metals firm, in 2018 were short-lived.

Russia is one of the world’s largest oil producers and a key supplier of industrial metals such as nickel, aluminium and palladium.

They said Musk’s erratic leadership style also played a role, forcing them to work at a breakneck pace to develop the technology and to push it out to the public before it was ready. Some said they are worried that, even today, the software is not safe to be used on public roads. Most spoke on the condition of anonymity for fear of retribution.

“The system was only progressing very slowly internally” but “the public wanted a product in their hands,” said John Bernal, a former Tesla test operator who worked in its Autopilot department. He was fired in February 2022 when the company alleged improper use of the technology after he had posted videos of Full Self-Driving in action

“Elon keeps tweeting, ‘Oh we’re almost there, we’re almost there,’” Bernal said. But “internally, we’re nowhere close, so now we have to work harder and harder and harder.” The team has also bled members in recent months, including senior executives.