In 1929 what was the reduced amount of reparations germany was required to pay

China keen to show a ‘significant’ response to US intervention SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info The bloc's biggest economy would lose out millions if China retaliated against the West in a trade war. According to a report by the Ifo Institute, Germany stands to lose the most across EU nations with the automotive industry, the production of transportation equipment, and manufacturers of machinery as the industries most at risk. Related articles Putin's 'radioactive plume' would devastate NINE EU nations in HOURS Putin backed into corner by HIMARS as forces 'grind to halt' Lisandra Flach, co-author of the report, said: “Deglobalisation makes us poorer. “Rather than turning away from important … [Read more...] about EU warned trade war with China would cost Germany six times more than Brexit

WASHINGTON — He promised a new social safety net. He pledged to develop a robust plan to fight global warming. He vowed to reduce the gap between rich and poor by making the wealthy “pay their fair share.” And along the way, Joseph R. Biden Jr. often said as he battled Donald J. Trump for the White House in 2020, he would prove that democracy still works in America. With final House passage of the Inflation Reduction Act on Friday, President Biden is poised to deliver the latest in a series of legislative victories that will ripple across the country for decades — lowering the cost of prescription drugs, extending subsidies to help people pay for health insurance, reducing the deficit and investing more than $370 billion into climate and energy programs. “The choice we face as Americans is whether to protect the already-powerful or find the courage to build a future where everybody has a shot,” Mr. Biden said on Twitter . “Today, I proudly watched as House Democrats … [Read more...] about A Victory for Biden, and a Bet on America’s Future

Berlin Russia will halt gas supplies to Europe for three days at the end of the month via its main pipeline into the region, state energy giant Gazprom said on Friday, piling pressure on the region as it seeks to refuel ahead of winter. The unscheduled maintenance order on the Nord Stream 1 pipeline, which runs under the Baltic Sea to Germany, deepens an energy standoff between Moscow and Brussels which has already helped send inflation surging in the region and raised the risk of rationing and recession. Gazprom said the three-day shutdown was because the pipeline's only remaining gas compressor requires maintenance, yet the move will bring further disruption particularly for Germany , which depends largely on deliveries from Moscow to power its industry. The latest shut-down follows a 10-day scheduled annual maintenance that took place in July, and raised fears over whether Russia would resume supplies, which have been reduced since mid-June. … [Read more...] about Russia will once again shut off Europe’s gas via Nord Stream 1 pipeline

The $369 billion climate and tax package Democrats in the Senate proposed this week could have far-reaching effects on the kinds of cars that Americans drive, where those cars are made and how the country produces its energy. The legislation also aims to break China’s hold on battery supply chains. The bill , which came back from the dead after Senator Joe Manchin III of West Virginia unexpectedly dropped his opposition, could greatly accelerate changes already underway in the automotive and energy industries. The proposal aims to simultaneously fight climate change and energize domestic manufacturing. For the most part, it would do so through tax breaks and other incentives — a carrot, rather than stick, approach that is likely to go down easier in corporate boardrooms and with voters. Democrats are proposing to expand cash incentives for buyers of electric vehicles, along with billions of dollars for automakers, battery manufacturers and suppliers to build or retool … [Read more...] about Climate Bill ‘Transformative’ for Auto and Energy Industries

In recent days, Republican politicians and operatives have attacked the Biden administration’s $80 billion plan to beef up the Internal Revenue Service’s capacity to audit wealthy Americans. Announcing the 10-year initiative, Treasury Secretary Janet Yellen said the additional money would address a backlog of unprocessed tax returns, improve taxpayer services, help the department overhaul its antiquated technology and allow it to hire thousands of new employees. Democrats have long accused Republicans of deliberately starving the tax agency of the resources it needs to function effectively — an accusation many in the G.O.P. are happy to accept as fact. Almost universally, Republicans saw a political opportunity in Yellen’s move. Ron DeSantis, the governor of Florida, said that “of all the things that have come out of Washington that have been outrageous, this has got to be pretty close to the top.” He added that Democrats were “basically” offering “a middle finger to the … [Read more...] about Why the I.R.S. Is at the Center of a Political Firestorm

WASHINGTON — If you’re a well-paid lawyer eyeing an electric Rivian sport-utility vehicle, you might want to buy it before New Year’s Day. If you’re a middle-class nurse saving up for a compact Chevrolet Bolt, you might want to wait until January. Those calculations — and a host of others pertaining to the red-hot electric vehicle market — come courtesy of an energy, tax and health care law that President Biden signed on Tuesday. It includes more than $370 billion in spending and tax incentives meant to address climate change, largely by encouraging people, businesses and electric utilities to reduce their use of fossil fuels. One incentive is the extension of a tax credit for the purchase of electric cars and trucks that can be worth up to $7,500. But that extension is complicated . The new law, passed with only Democratic votes in the House and Senate, contains lots of new rules that do not all take effect at the same time. Many of those new conditions were added to win over … [Read more...] about Why Buying an Electric Car Just Became More Complicated

Michela Morizzo warns of UK recession after drop in CCI SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Prices have fallen for the first month on record according to Rightmove, as well as Halifax. Rightmove held the average price of a UK property dropped by 1.3 percent, or £4,795, to £365,173 in August. The Halifax House Price Index held house prices fell by 0.1 percent in July, for a £365 month-on-month fall. Experts have now told Express.co.uk the housing market is reacting to sky-high inflation and interest rates, amid fears of a recession. Related articles The best and worst places to sell a home in the UK - mapped ‘Incredibly expensive’ house features to ‘avoid’ devaluing your home Inflation also hit a 40 … [Read more...] about First-time buyers tipped to ‘sit tight’ as recession fears could make house prices PLUMMET

BILLINGS, Mont. — The U.S. oil industry hit a legal roadblock in January when a judge struck down a $192 million oil and natural gas lease sale in the Gulf of Mexico over future global warming emissions from burning the fuels. It came at a pivotal time for Chevron, Exxon and other industry players: the Biden administration had curtailed opportunities for new offshore drilling, while raising climate change concerns. The industry’s setback was short-lived, however. The climate measure President Joe Biden signed Tuesday bypasses the administration’s concerns about emissions and guarantees new drilling opportunities in the Gulf of Mexico and Alaska. The legislation was crafted to secure backing from a top recipient of oil and gas donations, Democratic Sen. Joe Manchin, and was shaped in part by industry lobbyists. While the Inflation Reduction Act concentrates on clean energy incentives that could drastically reduce overall U.S. emissions, it also buoys oil and gas interests by … [Read more...] about Climate bill’s unlikely beneficiary: U.S. oil and gas industry

The climate and tax deal announced by Senate Democrats on Wednesday would pump hundreds of billions of dollars into programs designed to speed the country’s transition away from an economy based largely on fossil fuels and toward cleaner energy sources. The legislation, called the Inflation Reduction Act of 2022, is a far cry from the ambitious multi-trillion-dollar domestic policy and tax proposal that President Biden sought and that Democrats in Congress spent more than a year laboring to pass. What remains is a downsized but still significant package, born of compromise between Democratic Senator Joe Manchin III of West Virginia and Senate Majority Leader Chuck Schumer, Democrat of New York. Here’s a quick look at what’s in the bill, which Democrats hope to muscle past Republican opposition in the Senate as early as next week. Tax credits for zero-carbon power plants The deal would provide billions of dollars in tax credits over 10 years for companies that … [Read more...] about Seven Key Provisions in the Climate Deal