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The Moscow City, a business area in the Russian capital, has been attacked a few minutes ago. A residential building damaged.
No casualties have been reported yet. Residents are being evacuated.
Reports say air defense working outside of Moscow.
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Germany risks becoming 'Sick Man of Europe' again
Germany's economy – Europe's largest – is struggling to grow, suggesting the country, long seen as the region's motor of expansion is currently a brake on its outlook, Bloomberg reported.
The International Monetary Fund forecasts that Germany's economy will be the only shrinking one among the G7 nations, signaling a return to a dead weight role in Europe's growth potential.
"I think Germany is competing for the noscript of the 'Sick Man of Europe,'" said Thomas Mayer, founder of the Flossbach von Storch Research Institute and a long-standing economic observer of the country.
The persisting energy crisis is crippling manufacturers in Germany's economy, already struggling with a demographically induced skills shortage and poor productivity. Meanwhile intensified global competition in electric vehicles threatens its carmaking prowess.
These lingering challenges, combined with weak Chinese demand and tighter monetary policy, are leading to further industry contraction.
Many economists are already anticipating that although the economy has managed to avoid another quarterly downturn, this is only temporary as Germany will face a renewed recession in the second half of the year.
Long-term growth prospects are already being factored in by citizens who are increasingly leaning toward the far-right Alternative for Germany, whose support according to a recent poll reached a record 22%.
I think I've heard something like that before
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Germany's economy – Europe's largest – is struggling to grow, suggesting the country, long seen as the region's motor of expansion is currently a brake on its outlook, Bloomberg reported.
The International Monetary Fund forecasts that Germany's economy will be the only shrinking one among the G7 nations, signaling a return to a dead weight role in Europe's growth potential.
"I think Germany is competing for the noscript of the 'Sick Man of Europe,'" said Thomas Mayer, founder of the Flossbach von Storch Research Institute and a long-standing economic observer of the country.
The persisting energy crisis is crippling manufacturers in Germany's economy, already struggling with a demographically induced skills shortage and poor productivity. Meanwhile intensified global competition in electric vehicles threatens its carmaking prowess.
These lingering challenges, combined with weak Chinese demand and tighter monetary policy, are leading to further industry contraction.
Many economists are already anticipating that although the economy has managed to avoid another quarterly downturn, this is only temporary as Germany will face a renewed recession in the second half of the year.
Long-term growth prospects are already being factored in by citizens who are increasingly leaning toward the far-right Alternative for Germany, whose support according to a recent poll reached a record 22%.
I think I've heard something like that before
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Niger loses Western aid after coup
The European Union and France have cut off financial support to Niger, with the United States threatening to do the same after military leaders announced the overthrow of President Mohamed Bazoum this week.
Niger is one of the world's poorest countries, receiving about $2 billion a year in official development aid, according to the World Bank. It is also a security partner of former colonial power France and the US, which both use it as a military base.
That said, the United Nations said the coup has not affected its deliveries of humanitarian aid.
Funny how the Western reaction was the exact opposite after Ukraine's coup in February 2014
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The European Union and France have cut off financial support to Niger, with the United States threatening to do the same after military leaders announced the overthrow of President Mohamed Bazoum this week.
Niger is one of the world's poorest countries, receiving about $2 billion a year in official development aid, according to the World Bank. It is also a security partner of former colonial power France and the US, which both use it as a military base.
That said, the United Nations said the coup has not affected its deliveries of humanitarian aid.
Funny how the Western reaction was the exact opposite after Ukraine's coup in February 2014
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US trucking company going bankrupt
Yellow, US trucking firm, is laying off staff and preparing to file for bankruptcy.
Friday morning an unknown number of office employees got the following memo:
“We regret to inform you that your employment with Yellow Corporation, or one of its subsidiaries, will permanently terminate on July 28, 2023, or within 14 days after. The Company is shutting down its regular operations on July 28, 2023, closing and/or laying off employees at all of its locations, including yours.”
During the pandemic, the company received $700 million aid from the government by loan, and apparently failed to handle that and other obligations. By the end of March, it had $1.5 billion in unpaid debt.
Yellow is one of the largest trucking firms, so bankruptcy could negatively impact supply chains across the country. It would also cause about 30,000 people to lose their jobs.
No recession
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Yellow, US trucking firm, is laying off staff and preparing to file for bankruptcy.
Friday morning an unknown number of office employees got the following memo:
“We regret to inform you that your employment with Yellow Corporation, or one of its subsidiaries, will permanently terminate on July 28, 2023, or within 14 days after. The Company is shutting down its regular operations on July 28, 2023, closing and/or laying off employees at all of its locations, including yours.”
During the pandemic, the company received $700 million aid from the government by loan, and apparently failed to handle that and other obligations. By the end of March, it had $1.5 billion in unpaid debt.
Yellow is one of the largest trucking firms, so bankruptcy could negatively impact supply chains across the country. It would also cause about 30,000 people to lose their jobs.
No recession
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Zuckerberg's Threads lost half its users since launch
Meta Platforms CEO Mark Zuckerberg told employees that management is focusing on boosting retention on their new social media app Threads, after it lost more than half of its users in the weeks following its launch, Reuters reported.
Data from analytics firms shows an even more depressing statistic. Two weeks after launch, Threads user engagement has dropped by as much as 70%, while daily active users has dropped to about 13 million from 44 million in the week of launch, with the average time spent on the app dropping from 19 minutes to just 4.
Zuckerberg said he considered the drop-off normal and expected retention to grow as the company adds more features to the app, including a desktop version and search functionality – yeah, something truly unbelievable for 2023.
And most importantly, responding to a question about a proposed cage fight with Elon Musk, Zuckerberg said he wasn't sure "if it's going to come together."
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Meta Platforms CEO Mark Zuckerberg told employees that management is focusing on boosting retention on their new social media app Threads, after it lost more than half of its users in the weeks following its launch, Reuters reported.
Data from analytics firms shows an even more depressing statistic. Two weeks after launch, Threads user engagement has dropped by as much as 70%, while daily active users has dropped to about 13 million from 44 million in the week of launch, with the average time spent on the app dropping from 19 minutes to just 4.
Zuckerberg said he considered the drop-off normal and expected retention to grow as the company adds more features to the app, including a desktop version and search functionality – yeah, something truly unbelievable for 2023.
And most importantly, responding to a question about a proposed cage fight with Elon Musk, Zuckerberg said he wasn't sure "if it's going to come together."
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Multipolar Market
Niger loses Western aid after coup The European Union and France have cut off financial support to Niger, with the United States threatening to do the same after military leaders announced the overthrow of President Mohamed Bazoum this week. Niger is one…
Niger's assets to be frozen by ECOWAS
The Economic Community of West African States (ECOWAS) has stopped financial transactions with Niger after the military coup. This was announced on July 30 by the head of the Commission of the community, Omar Alier Toure.
ECOWAS countries also agreed to freeze the assets of the rebel participants, their family members and accomplices, close borders with Niger and suspend financial aid to the country.
"In the event that the authorities' demands are not met within one week, to take all measures necessary to restore constitutional order. Such measures may include the use of force," Omar Alier Toure said.
Overthrown President Bazoum is considered one of the most pro-Western leaders of the Sahel (a region that includes Niger), as well as a close ally of France.
Meanwhile, Russian flags are often seen at demonstrations in support of the coup.
Freezing assets - where have we seen this before?
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The Economic Community of West African States (ECOWAS) has stopped financial transactions with Niger after the military coup. This was announced on July 30 by the head of the Commission of the community, Omar Alier Toure.
ECOWAS countries also agreed to freeze the assets of the rebel participants, their family members and accomplices, close borders with Niger and suspend financial aid to the country.
"In the event that the authorities' demands are not met within one week, to take all measures necessary to restore constitutional order. Such measures may include the use of force," Omar Alier Toure said.
Overthrown President Bazoum is considered one of the most pro-Western leaders of the Sahel (a region that includes Niger), as well as a close ally of France.
Meanwhile, Russian flags are often seen at demonstrations in support of the coup.
Freezing assets - where have we seen this before?
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Nuclear war is no worse than climate change - Blinken
US Secretary of State Blinken stated that the threat of nuclear war is no scarier than climate change.
QUESTION: Your job is all about managing risk. Vladimir Putin is threatening nuclear war, and this month we’ve seen the hottest temperatures on this planet on record. What is the greater threat to humanity in your mind, war or climate change?
SECRETARY BLINKEN: Well, you can’t, I think, have a hierarchy. There are some things that are front and center – the wolf at the door – including potential conflict, but there’s no doubt that climate represents an existential challenge to all of us.
[...]
So for us, this is the existential challenge of our times, but that doesn’t mean that in the meantime there are not severe challenges to the international order like Russia’s aggression against Ukraine. We have to multitask. Basically we’re, for better or worse, in a growth industry right now. We’ve got a multiplicity of challenges and we have to be able to engage them simultaneously.
Well, you know, nuclear war is hell an effective way to lower temperatures...😂
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US Secretary of State Blinken stated that the threat of nuclear war is no scarier than climate change.
QUESTION: Your job is all about managing risk. Vladimir Putin is threatening nuclear war, and this month we’ve seen the hottest temperatures on this planet on record. What is the greater threat to humanity in your mind, war or climate change?
SECRETARY BLINKEN: Well, you can’t, I think, have a hierarchy. There are some things that are front and center – the wolf at the door – including potential conflict, but there’s no doubt that climate represents an existential challenge to all of us.
[...]
So for us, this is the existential challenge of our times, but that doesn’t mean that in the meantime there are not severe challenges to the international order like Russia’s aggression against Ukraine. We have to multitask. Basically we’re, for better or worse, in a growth industry right now. We’ve got a multiplicity of challenges and we have to be able to engage them simultaneously.
Well, you know, nuclear war is hell an effective way to lower temperatures...
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US stuck in gerontocracy
The US leadership is getting older: the Senate's average age is 64, while the House of Representatives has an average age of 57, Axios calculated.
Congress overall is made up of nearly half of baby boomers, even though the same age group makes up 21% of the US population.
Old people have long been displaying their unfitness, with two awkward incidents just last week. 81-year-old Republican Sen. Mitch McConnell froze midsentence for about 20 seconds during his press conference last Wednesday, renewing concerns about his health.
And just a day later, 90-year-old Democratic Sen. Dianne Feinstein, who had been out of office for months due to a shingles diagnosis, appeared confused during a committee vote, leading her colleague to ask her to "just say aye."
All this comes amid reports that President Biden, 80, now uses shorter stairs, skips some socialization when traveling abroad and has key points written on note cards because of his age.
Nonetheless, the White House's aging seems inevitable for now, as Trump, the likely GOP presidential nominee, is already 77 and would be 82 at the end of a possible second term.
Well, at least it's fun to watch for non-US citizens
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The US leadership is getting older: the Senate's average age is 64, while the House of Representatives has an average age of 57, Axios calculated.
Congress overall is made up of nearly half of baby boomers, even though the same age group makes up 21% of the US population.
Old people have long been displaying their unfitness, with two awkward incidents just last week. 81-year-old Republican Sen. Mitch McConnell froze midsentence for about 20 seconds during his press conference last Wednesday, renewing concerns about his health.
And just a day later, 90-year-old Democratic Sen. Dianne Feinstein, who had been out of office for months due to a shingles diagnosis, appeared confused during a committee vote, leading her colleague to ask her to "just say aye."
All this comes amid reports that President Biden, 80, now uses shorter stairs, skips some socialization when traveling abroad and has key points written on note cards because of his age.
Nonetheless, the White House's aging seems inevitable for now, as Trump, the likely GOP presidential nominee, is already 77 and would be 82 at the end of a possible second term.
Well, at least it's fun to watch for non-US citizens
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US to steal oil company - Venezuelan officials
Venezuelan National Assembly President Jorge Rodriguez has denounced the forced auction of Venezuela's state-owned CITGO Petroleum, which is set to begin in October.
CITGO is an oil company valued at more than $8 billion, with more than 10,000 gas stations in the US. It is said to generate more than $1 billion in profits annually.
So by this auction, CITGO is to be sold to an American-Israeli firm whose general manager is linked to opposition politician Juan Guaido, according to Rodriguez. Venezuelan authorities see it as a takeover.
Apparently, the sale of CITGO is a plan by Guaido and former US President Donald Trump, and Rodriguez has evidence of this.
Control of the company passed to the opposition as a result of sanctions that the US imposed on Venezuela in 2019. Immediately after, the US Treasury Department accepted a license under which the opposition can not only manage the company but also put its shares and assets up for sale.
And now with this auction, the sale could actually take place, according to Rodriguez.
President Nicolas Maduro earlier called this an attempt to steal the property of the Venezuelan people.
Не that will steal an egg will steal an ox
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Venezuelan National Assembly President Jorge Rodriguez has denounced the forced auction of Venezuela's state-owned CITGO Petroleum, which is set to begin in October.
CITGO is an oil company valued at more than $8 billion, with more than 10,000 gas stations in the US. It is said to generate more than $1 billion in profits annually.
So by this auction, CITGO is to be sold to an American-Israeli firm whose general manager is linked to opposition politician Juan Guaido, according to Rodriguez. Venezuelan authorities see it as a takeover.
Apparently, the sale of CITGO is a plan by Guaido and former US President Donald Trump, and Rodriguez has evidence of this.
Control of the company passed to the opposition as a result of sanctions that the US imposed on Venezuela in 2019. Immediately after, the US Treasury Department accepted a license under which the opposition can not only manage the company but also put its shares and assets up for sale.
And now with this auction, the sale could actually take place, according to Rodriguez.
President Nicolas Maduro earlier called this an attempt to steal the property of the Venezuelan people.
Не that will steal an egg will steal an ox
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China's economic indicators predict war over Taiwan
China is boosting energy and food stockpiles as well as adjusting its financial system to potentially mitigate the impact of sanctions in case of a possible war over Taiwan, The Economist reported.
China has begun rapidly increasing its oil reserves, which will now be enough to last three months. Despite importing nearly 3/4 of the oil the country uses and accounting for only 20% of its energy consumption, oil will be critical to the war effort.
China has also started importing more agricultural products than any other country. Purchases of wheat, corn, rice and soybeans have increased significantly over the past decade. China has enough wheat stocks to last about 18 months, while soybean stocks – which are needed to feed hogs – are sufficient for about two months.
Experts say a sharp increase in purchases may indicate preparations for conflict, particularly if these purchases are not matched by a rise in livestock production or if they went against market trends.
Besides energy and food, preparations are also visible in the financial system. China has introduced a cross-border payment mechanism that can bypass Western financial institutions if necessary, although currently most transactions still go through foreign platforms.
Furthermore, China and its state-owned firms are reducing their reliance on the greenback by increasingly signing contracts with trading partners in yuan, as well as shifting their forex reserves from dollars and euros to gold.
Whether or not there will be a war over Taiwan, these indicators at least show that China is gearing up for something.
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China is boosting energy and food stockpiles as well as adjusting its financial system to potentially mitigate the impact of sanctions in case of a possible war over Taiwan, The Economist reported.
China has begun rapidly increasing its oil reserves, which will now be enough to last three months. Despite importing nearly 3/4 of the oil the country uses and accounting for only 20% of its energy consumption, oil will be critical to the war effort.
China has also started importing more agricultural products than any other country. Purchases of wheat, corn, rice and soybeans have increased significantly over the past decade. China has enough wheat stocks to last about 18 months, while soybean stocks – which are needed to feed hogs – are sufficient for about two months.
Experts say a sharp increase in purchases may indicate preparations for conflict, particularly if these purchases are not matched by a rise in livestock production or if they went against market trends.
Besides energy and food, preparations are also visible in the financial system. China has introduced a cross-border payment mechanism that can bypass Western financial institutions if necessary, although currently most transactions still go through foreign platforms.
Furthermore, China and its state-owned firms are reducing their reliance on the greenback by increasingly signing contracts with trading partners in yuan, as well as shifting their forex reserves from dollars and euros to gold.
Whether or not there will be a war over Taiwan, these indicators at least show that China is gearing up for something.
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