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'Dark lull' in German energy transition sparks political debate
As Germany heads for February 23 elections the grey winter weather has become a hot campaign topic because of its impact on the country's shaky green energy transition. The Scholz government defended the green energy transition despite the occasional "temporary phenomenon" of a dark lull that can drive up prices on the spot market.
EU, Swiss hail 'historic' new deal resetting relations
The European Union and Switzerland announced Friday they had sealed a new set of agreements aimed at recalibrating relations between the two neighbours. Relations plunged when Switzerland suddenly slammed the door on the talks in 2021.
Ex-IMF chief Rato gets four-year jail term in Spain for tax crimes
A Madrid court sentenced ex-IMF chief and Spanish economy minister Rodrigo Rato to more than four years in prison for tax crimes, money laundering and corruption, it said Friday. A second defendant, Domingo Plazas, was sentenced to 18 months in prison for money laundering and collaborating in two of Rato's tax offences.
Fed's favored inflation gauge rises again in November
The Federal Reserve's preferred inflation measure rose for a second straight month in November, according to government data published Friday, although the increase came in a touch below expectations. The personal consumption expenditures (PCE) price index rose 2.4 percent in the 12 months to November, up from 2.3 percent in October, the Commerce Department said in a statement.
US hours from government shutdown over Christmas
US lawmakers raced Friday to prevent a government shutdown due to bite within hours, after Donald Trump and Elon Musk sabotaged a bipartisan agreement that would have kept the lights on well beyond Christmas. "If there is going to be a shutdown of government, let it begin now, under the Biden Administration," Trump said on social media early Friday, seeking to avoid blame for the chaos.
Brits kindle Christmas spirit with second-hand gifts
Bursting with customers one afternoon the week before Christmas, a second-hand charity shop in London's Marylebone High Street looked even busier than the upscale retailers surrounding it. Mkt, a brand which aims to put charity shops in empty shopping centres and high street spaces, has himself given second-hand Christmas gifts for "many, many years".
Russia central bank holds off rate hike after criticism
Russia's central bank kept interest rates at 21 percent on Friday despite surging inflation, a surprise decision that follows criticism from the country's political and business elite over the effects of higher borrowing costs on the economy.
Credit Suisse collapse probe slams banking regulator
Switzerland's financial regulator was ineffective in tackling the scandals at Credit Suisse, where executive mismanagement scuppered the bank and nearly triggered a global financial crisis, a Swiss inquiry concluded Friday.
China lifts rock lobster ban, bringing end to Australian trade barriers
China has lifted a ban on imports of Australian live rock lobsters, Canberra said Friday, demolishing the final barrier in a broader, multibillion-dollar trade war between the countries. "This is great news for our live rock lobster producers and fishers here in Australia, and importantly, it means that they can now apply for import permits to go back into this market."
AFP
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