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☆ Opinion | The House Does ‘the Right Thing,’ and George Santos Is Out
▼ + stars: | 2023-12-01 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:Re “House Expels George Santos From Congress in Historic Vote” (nytimes.com, Dec. 1):I appreciate that the House has finally voted to rid itself of Representative George Santos. It is, however, a disgrace that a majority of House Republicans who voted were in opposition to expulsion. The man the voters of his New York district elected to the House was not the man who George Santos represented himself to be. Mr. Santos did not help his cause by responding to allegations with anger, arrogance and condescension. Mr. Santos’s self-inflicted wounds are hardly over for him as he continues to face numerous criminal charges.

Persons: George Santos, Santos, Santos’s Organizations: George Santos From, House Republicans, House Locations: New York

☆ Rep. George Santos expelled from Congress for corruption, cutting GOP majority
▼ + stars: | 2023-12-01 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

Rep. George Santos (R-N.Y.) arrives to speak about the House Ethics Committee report and potential expulsion from Congress this week during a press conference outside on Capitol Hill on Thursday, Nov. 30, 2023, in Washington, DC. The House voted Friday to expel Rep. George Santos from Congress for his alleged finance crimes and his campaign lies, shrinking the GOP's already slim majority. Santos is the sixth House member in U.S. history to be booted from Congress, and the third since the Civil War. Former Democratic Rep. Tom Suozzi, who left the seat in New York's 3rd congressional district to run for governor, has already launched a campaign to take it back. The resolution, brought by Santos' fellow New York Republicans was the latest effort to boot the embattled 35-year-old freshman lawmaker.

Persons: George Santos, Santos, Kathy Hochul, Hochul, Tom Suozzi, Mike Johnson, Steve Scalise Organizations: The, Congress, New York Republican, Republicans, Democratic, Republican, New York Republicans Locations: Washington ,, York, New York's, Long

The IRS has unveiled its annual inflation adjustments for the 2024 tax year, featuring a slight uptick in income thresholds for each bracket compared to 2023. Your taxable income and filing status determine both the tax rate and bracket that apply to you, outlining the amount you'll owe on different portions of your income. For 2024, the seven federal income tax rates are 10%, 12%, 22%, 24%, 32%, 35% and 37%. Below, CNBC Select breaks down the updated tax brackets for 2024 and what you need to know about them. What we'll cover2024 tax brackets (for taxes filed in 2025)The tax inflation adjustments for 2024 rose by 5.4% from 2023 (which is slightly lower than the 7.1% increase the 2023 tax year had over the 2022 rates).

Organizations: IRS, CNBC, Better, CNBC Select's, Facebook, Twitter Locations: Mobile

The Internal Revenue Service (IRS) has unveiled its annual inflation adjustments for the 2024 tax year, featuring a slight uptick in income thresholds for each bracket compared to 2023. Your taxable income and filing status determine both the tax rate and bracket that apply to you, outlining the amount you'll owe on different portions of your income. For both 2023 and 2024, the seven federal income tax rates are 10%, 12%, 22%, 24%, 32%, 35% and 37%. Below, CNBC Select breaks down the updated tax brackets of 2024 and what you need to know. What we'll cover2024 tax brackets (for taxes filed in 2025)The tax inflation adjustments for 2024 rose by 5.4% from 2023 (which is slightly lower than the 7.1% increase the 2023 tax year had over the 2022 rates).

Organizations: Internal Revenue Service, CNBC, Better, CNBC Select's, Facebook, Twitter Locations: Mobile

FRANKFORT, Ky. (AP) — Kentucky state Rep. Kevin Bratcher announced his plans Thursday to run for a Louisville Metro Council seat next year, which would culminate a long statehouse career that put the Republican lawmaker at the forefront of school safety, juvenile justice and a host of other issues. Bratcher has been a fixture in the Kentucky House since 1997. Bratcher becomes the second Louisville-area lawmaker within days to pass up a House reelection run to instead seek a metro council seat in 2024. Democratic state Rep. Josie Raymond announced similar plans to run for metro council in another district. Another lawmaker who announced recently that he won't seek reelection next year is Republican state Rep. Danny Bentley, who represents a district in northeastern Kentucky.

Persons: Kevin Bratcher, Bratcher, Josie Raymond, ” Bratcher, David Osborne, ” Osborne, Danny Bentley, Bentley Organizations: Louisville Metro Council, statehouse, Republican, Kentucky House, GOP, Democratic, Louisville, Health, Family Services Locations: FRANKFORT, Ky, Kentucky, Louisville, Bratcher, Jefferson County, Fern

☆ In pictures: Israel, Hamas extend Gaza truce for seventh day
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: 1 min

[4/17]A man carries a child on his shoulders as Palestinians shop in an open-air market near the ruins of houses and buildings destroyed in Israeli strikes during the conflict, amid a temporary truce between Hamas and Israel, in Nuseirat refugee camp in the central Gaza Strip November 30. REUTERS/Ibraheem Abu MustafaNUSEIRAT REFUGEE CAMP, PALESTINIAN TERRITORIES

Persons: Abu Mustafa Organizations: REUTERS Locations: Israel, Gaza

☆ The hidden expense that's sucking $74 billion out of the economy
▼ + stars: | 2023-11-30 | by ( Bartie Scott | ) www.businessinsider.com time to read: +14 min

They said rising costs kept the board from expanding amenities residents wanted, such as a shared composting system. jhorrocks/Getty ImagesRising price for peace of mindIn the constellation of household costs, insurance is often one of the lesser-noticed line items. But recently the rising cost of repairs and the frequency of damaging weather events have made the deal go sour. Rising insurance costs could inflict more pain on another bruised area of the economy: housing affordability. For this reason, insurance companies could decline to cover them or require costly upgrades before agreeing to a policy.

Persons: that'd, Mark Pauly, Tim Quinlan, you'll, Quinlan, it's, Francesco D'Acunto, D'Acunto, Pauly, they've, Nature, John Coletti, That's, Bartie Scott Organizations: Insurance, Research, Bank of America, Global, American, Casualty Insurance Association, University of Pennsylvania's Wharton School of Business, Insurance Information Institute, Georgetown University's McDonough School of Business, Social Security, National Flood Insurance, Business Insider's Locations: Logan, Chicago, Florida, Wells Fargo, California

The zoning changes doubled the size of houses allowed in Hogg Hummock. Black residents say larger homes in the community will lead to property tax increases that they won’t be able to afford. He added that their lawsuit “is wholly silent on the topic.”Attorneys for the Hogg Hummock landowners who are suing did not immediately return an email message seeking comment Thursday. About 30 to 50 Black residents still live in Hogg Hummock, founded by former slaves who had worked the island plantation of Thomas Spalding. Well over 100 Hogg Hummock residents and landowners packed those meetings to voice objections, but were given just one chance to speak to the changes.

Persons: Hogg, Hogg Hummock, discriminates “, Paul Frickey, Thomas Spalding . Organizations: Hogg Locations: SAVANNAH, Ga, — County, Georgia, McIntosh, Sapelo, Thomas, Savannah, Black

☆ Japan has a glut of 8.5 million akiya, empty 'ghost houses' left to rot. Now Airbnb wants to fill them with tourists.
▼ + stars: | 2023-11-29 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Airbnb wants to use a growing glut of abandoned homes in Japan to boost its business. Japan has around 8.5 million akiya, or empty homes, as its population shrinks and ages. If the owners of idle assets refurbish them and convert them into lodgings, that would be a solution," Airbnb's head of Japan, Yasuyuki Tanabe, told Nikkei. Airbnb hopes to partner with businesses and local governments to encourage homeowners to invest in renovations, Tanabe told Nikkei. AdvertisementJapan has close to 8.5 million abandoned homesJapan has some 8.49 million akiya, or unoccupied homes, according to the government's Housing and Land Survey in 2018.

Persons: Airbnb, —, Yasuyuki Tanabe, Tanabe Organizations: Nikkei, Service, Survey, Nomura Research Institute, Japan National Tourism Organization Locations: Japan, Tourism

☆ McCarthy visited Mar-a-Lago after January 6 because staffers said Trump was 'not eating,' Liz Cheney writes in forthcoming book
▼ + stars: | 2023-11-29 | by ( Katherine Tangalakis-Lippert | John L. Dorman | ) www.businessinsider.com time to read: +5 min

Liz Cheney reveals why Kevin McCarthy visited Mar-a-Lago after January 6. Cheney wrote McCarthy said Trump was "depressed" after the attack on the Capitol and wasn't eating. Cheney asked the then-House Minority Leader from California following his visit, CNN reported in an excerpt from her book. "They're really worried," McCarthy told Cheney, who at the time was the chair of the House Republican Conference. Advertisement"I didn't know they were going to take a picture," McCarthy reportedly said, according to the book.

Persons: Liz Cheney, Kevin McCarthy, Cheney, McCarthy, Trump, —, Kevin McCarthy's, Donald Trump, Kevin, They're, McCarthy —, Brown, Jerry Maguire, Tom Cruise, Renée Zellweger, Kevin McCarthy’s, Leader McCarthy, ”, aTwUW1nAuB — Jenn Franco KESQ, Biden, Alexander Burns, Jonathan Martin, pushback, Matt Gaetz, Harriet Hageman Organizations: Capitol, Service, Wyoming GOP, CNN, House Republican Conference, Mar, Company, Business, Trump, Save America PAC, “, Republican, Republicans, America's, GOP Locations: Lago, Wyoming, South Florida, California, Cheney, Florida, Trump

☆ Average homebuyers are beating out Wall Street landlords
▼ + stars: | 2023-11-29 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

The shutdowns of 2020 created a perfect storm for the housing market — and supercharged the clash between Wall Street and regular homebuyers. Given the attention these markets received during the pandemic, it's no wonder that the battle between Wall Street and Main Street became the dominant story of COVID-era homebuying. Advertisement"If Wall Street was really gobbling up Main Street," Sharga told me, "we would see homeownership rates go down." Wall Street landlords have also been increasingly selling off homes to regular people, a Business Insider analysis found. Still circlingWhile average homebuyers have staged a comeback over the past three years, Wall Street isn't ready to jump out of the housing market altogether.

Persons: homebuyers, That's, Wall, elbowed, Rick Sharga, CJ Patrick Company, they're, who've, Axios, Sharga, CoreLogic, Pretium —, John Voorheis, Voorheis, —, Freddie Mac, James Rodriguez Organizations: Rage, Federal Reserve Bank of Philadelphia, Parcl Labs, Labs, National Association of Realtors, Wall Street, Investor, Wall, Tricon, Associates, Investors, Center for Economic Studies, Census Locations: Phoenix, Chicago, homebuilders, homeownership, Dallas, Charlotte, North Carolina, Atlanta

☆ The holiday spending spree is fueled by ‘Buy Now, Pay Later’ shoppers
▼ + stars: | 2023-11-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —The Black Friday and Cyber Monday billion-dollar US spending spree was fueled by “Buy Now, Pay Later” shoppers. On Cyber Monday, Buy Now, Pay Later purchases hit an all-time high, up 43% from a year ago, according to Adobe Analytics. The number of items per order also rose 11% annually as shoppers used Buy Now, Pay Later for larger purchases. Consumers risk stacking on debt they can’t pay off with Buy Now, Pay Later purchases, financial researchers say. While Buy Now, Pay Later was initially designed to help shoppers pay for big-ticket purchases, consumers are increasingly using these services to buy groceries and everyday necessities, research shows.

Persons: CNN’s Alicia Wallace Organizations: New, New York CNN, Adobe Analytics, New York Federal, Federal Reserve Bank of New Locations: New York

"Inflation rates are moving along pretty much like I thought," Fed Governor Christopher Waller, a hawkish and influential voice at the central bank, told the American Enterprise Institute think tank on Tuesday. If the decline in inflation continues "for several more months ... three months, four months, five months ... we could start lowering the policy rate just because inflation is lower," he said. Additional Fed rate increases remain a possibility if upcoming data includes an unexpected resurgence of price pressures, he said. But even Bowman, who like Waller is among the Fed's most hawkish officials, stopped short of outright calling for a further increase in the policy rate. New inflation data will be released on Thursday, and policymakers will also have a fresh monthly jobs report and other data in hand before they gather next month.

Persons: Christopher Waller, Bond, Waller's, Jerome Powell, Michelle Bowman, Bowman, Waller, Austan Goolsbee, Howard Schneider, Ann Saphir, Lindsay Dunsmuir, Andrea Ricci, Paul Simao Organizations: Federal Reserve, American Enterprise Institute, Fed, Spelman College, Utah Bankers Association, Chicago Fed, Conference Board, Thomson Locations: U.S, Atlanta, Salt Lake City

☆ How to make your money work for you over the next decade
▼ + stars: | 2023-11-28 | by ( James Faris | William Edwards | ) www.businessinsider.com time to read: +16 min

"If there is a regime shift, then what has worked could be quite different from what does work," McLennan said. That means the growth stocks that dominated for years may come back to earth in the mid-2020s. He also recommends that investors diversify away from growth stocks that thrived under low rates and instead broaden out to value-oriented names. Valuations explain 80% of a stock's returns over a decade, according to Bank of America. Smead sees energy in stocks in Canada also outperforming in the coming decade, as well as European banks.

Persons: —, Peter Bates, Rowe Price, Damanick Dantes, We're, Dantes, you've, He's, Matt McLennan, McLennan, Kimball Brooker, Morningstar, Nicola Stafford, Stafford, it's, Molina, Bates, Russell, Cole Smead, that's, Phillip Colmar, Colmar, Bob Doll, Doll, Smead, Michael Sheldon, Sheldon, who's, there's, Chris Chen, Chen, Roth Organizations: Service, Business, Global, International, McLennan, First Eagle Global Fund, Eagle Investments, Goldman, Asset Management, Stock, Molina Healthcare, Vanguard Value, Healthcare, Bank of America, Comerica Wealth Management, MRB Partners, Canadian, Crossmark Global Investments, BlackRock, Energy, P Bank ETF, RDM Financial, Social Security, Social, Insight Financial, Trust, IRA Locations: Canada, Colmar, United States, Canadian, Europe, Treasuries

☆ Americans broke a record for spending on Black Friday, but it is just hiding a bigger problem for the economy
▼ + stars: | 2023-11-28 | by ( Cork Gaines | Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Many are delaying the cost as buy now, pay later programs are expected to have their biggest month ever. Many are paying via "buy now, pay later" platforms such as Klarna or Afterpay, which let shoppers pay in installments every week or month. Buy now, pay later also allows people to borrow less expensively as they get the pricing interest-free if paid off in time. Indeed, the Fed's "2022 Survey of Household Economics and Decisionmaking" found that 83% of respondents paid off their buy now, pay later programs on time. Compounding the problem is that people tend to spend more when using buy now, pay later programs, suggesting an overconfidence in what they can afford.

Persons: —, Salesforce, Beryl Tomay, Klarna, Mark Luschini, Janney Montgomery Scott, Maria Bartiromo, Luschini, Michael Landsberg, Landsberg Bennett, Kraig, Foreman Organizations: Black, Service, Adobe, Mastercard, CNBC, Business, Federal Reserve Bank of Atlanta, Household Economics, Social Science Research Network, Wealth Management Locations: Landsberg

☆ Americans broke a record for spending on Black Friday, but it's just hiding a bigger problem for the economy
▼ + stars: | 2023-11-28 | by ( Cork Gaines | Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

WASHINGTON (AP) — A Democratic lawmaker moved Tuesday to force a vote this week on expelling Rep. George Santos from the House, calling it a necessary step if Republicans fail to take action in light of the recent ethics report that found Santos blatantly stole from his campaign and deceived donors. Rep. Robert Garcia, D-Calif., brought back to the floor legislation he first introduced in February to force the expulsion vote. “Whatever it takes to get that vote this week, is what we're doing,” Garcia said. Expelling Santos, a Republican from New York, would require support from at least two-thirds of House members voting. Santos has rejected any suggestion he step down before an expulsion vote.

Persons: George Santos, Santos, Robert Garcia, Garcia, ” Garcia, ” Santos, Kevin McCarthy, Zoe Lofgren, “, ” Lofgren, Santos “, Rep, Michael Guest, Guest, Mike Johnson Organizations: WASHINGTON, —, Democratic, Republican, New York Republicans Locations: New York, Florida

☆ Record-setting holiday sales hit $12 billion
▼ + stars: | 2023-11-27 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Enticed by deep discounts, Americans are expected to celebrate Cyber Monday by spending a record-setting $12 billion online shopping. The early results suggest the holiday shopping season is off to a positive start, aided in part by lower gas prices. Another popular measure of holiday spending, Mastercard SpendingPulse, found e-commerce sales jumped by an even stronger 8.5% year-over-year on Black Friday. In another sign of sturdy consumer spending, Americans continue to travel aggressively. That’s down 63 cents from the peak in September and marks 60 consecutive days of falling gas prices.

Persons: New York CNN —, ” Michelle Meyer, men’s hoodies, Mastercard SpendingPulse, ”, Mastercard’s Meyer, That’s, Sensormatic, Covid, Meyer, ” Meyer Organizations: New, New York CNN, Mastercard Economics Institute, CNN, Adobe Analytics, Adobe, JCPenney, Mastercard, SpendingPulse, Bank of America, Transportation Security Administration, Federal Reserve, AAA Locations: New York

☆ WSJ Opinion: The Enduring Division of House Republicans
▼ + stars: | 2023-11-25 | by ( Wsj Opinion | ) www.wsj.com time to read: 1 min

WSJ Opinion: Journal Editorial ReportFrom the award-winning opinion pages of The Wall Street Journal, the Journal Editorial Report sees columnists and members of the Journal Editorial Board debate the major economic, political and cultural issues of the day. From the policy debates to the political fights, each week get critical perspective and the analysis you need on developments from Washington.

Organizations: Street Journal Locations: Washington

☆ The little-known agriculture stocks shaping the future of alternative protein
▼ + stars: | 2023-11-25 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Not every corner of the plant-based food industry has been burned. After the boom-and-bust cycle of Beyond Meat stock, analysts have wondered what comes next for the plant-based food space. The alternative protein market Beyond Meat's struggles have left some skeptical about which companies have what it takes to meet the needs of consumers who want to avoid animal-based products for health or environmental reasons. After topping $230 per share at its highest point, Beyond Meat stock now trades below $7. There's a business argument beyond the alternative protein market that can bode well when forecasting demand, Morningstar's Goldstein said.

Persons: Kristen Owen, Oppenheimer, Morgan Stanley, Michael Canfield, FactSet, Canfield, Corteva, Morningstar, Seth Goldstein, Goldstein, Vincent Andrews, Owen, Zepbound, milks, bode, Morningstar's Goldstein, Archer, Michael Bloom Organizations: Good Food Institute, Daniels, Midland Locations: Green Plains, U.S, Green, There's

Today, they facilitate the connection to the spiritual world she needs to help fellow refugees and their American-raised children who seek restoration of lost spirits. Male heads of households who embrace traditional animist practices perform soul-calling ceremonies, venerate ancestor spirits and invoke the protection of good spirits. On a farm north of St. Paul, Moua Yang runs the hog butcher shop he started working on with his father when he was a child. “It’s ingrained in me,” said Vue, who was born in St. Paul. “Spiritual world is confusing, but once you find a path, everything is natural,” Chad Lee said.

Persons: Mee Vang Yang, ”, Tzianeng Vang, Vang Yang’s, He's, Lee Pao Xiong, Paul, haven’t, Xiong, Moua Yang, “, it’s, Yang, Sai Vue, Vue, Janessa Moua, she’s, ” Moua, Txongpao Lee, Lee, Hlee Xiong Lee, they’re, Kevin Lee, Chad Lee Organizations: PAUL, Communist, Center, Hmong Studies, Concordia University, St, Twin Cities, Hmong Cultural, Lutheran, Press, Lilly Endowment Inc, AP Locations: Laos, Minnesota, China, Cambodia, Vietnam, United States, Thailand, California, St, Southeast Asia, Wisconsin, Paul’s

☆ The tug-of-war is on between deal-hungry shoppers and retailers wary of giving them throw-away prices on Black Friday
▼ + stars: | 2023-11-24 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +7 min

So are the start-of-the-season deals enticing enough for shoppers or are they holding out in a cat-and-mouse game with retailers? Michael Brown, retail industry leader and partner with management consulting firm Kearney, said the much earlier-than-usual jumpstart to holiday sales this year could be to blame. Shoppers will be holding out for better deals,” he said. Kena Betancur/Getty ImagesTotal holiday sales this year are expected to come in softer compared to last year. He said there were plenty of 25% off Black Friday deals mall-wide and some deeper 40% off promotions for early-bird shoppers.

Persons: New York CNN —, Michael Brown, Kearney, ”, Brown, Emily Elconin, Marshal Cohen, ” Cohen, Barbie, Willing, they’ve, Kena Betancur, Brian Schroeder, Kendra Scott, “, Aeropostale, Aritzia, Shannon Stapleton, Marc Rosen, Rosen, ” Rosen, Nathaniel Meyersohn Organizations: New, New York CNN, “, Shoppers, Black, National Retail Federation, Adobe Analytics, Disney Little, Marvel, Macy's, Brookfield Properties, Brookfield Asset Management, Nike, Apple, Simon Property Group, JCPenney Locations: New York, Oaks, Michigan, New York , New York, La Cantera, San Antonio , Texas, Brookfield, Roosevelt, Garden City , New York, Penney

☆ Egypt president says future Palestinian state could be demilitarised
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +2 min

Palestinians stand among the rubble of houses destroyed in an Israeli strike during the conflict, amid the temporary truce between Hamas and Israel, in Khan Younis in the southern Gaza Strip November 24, 2023. REUTERS/Ibraheem Abu Mustafa Acquire Licensing RightsCAIRO, Nov 24 (Reuters) - A future Palestinian state could be demilitarised and have a temporary international security presence to provide guarantees to both it and to Israel, Egyptian President Abdel Fattah al-Sisi said on Friday. A political resolution which requires a Palestinian state based on the June 4, 1967 borders, with East Jerusalem as its capital, has remained out of reach, Sisi added. Arab nations have rejected suggestions that an Arab force provide security in the Gaza Strip after the end of Israel's current military operation there against the Palestinian militant group Hamas, which has controlled Gaza since 2007. Reporting by Aidan Lewis, Writing by Clauda Tanios Editing by Gareth JonesOur Standards: The Thomson Reuters Trust Principles.

Persons: Khan Younis, Abu Mustafa, Abdel Fattah al, Sisi, Pedro Sanchez, Alexander De Croo, Ayman Safadi, Aidan Lewis, Clauda, Gareth Jones Organizations: REUTERS, Rights, NATO, United Nations, Spanish, Belgian, Palestinian, Hamas, Jordanian, Thomson Locations: Israel, Gaza, Rights CAIRO, Palestinian, Cairo, East Jerusalem, London

☆ Collapsed Indian tunnel had no safety exit, was built through geological fault - panel member
▼ + stars: | 2023-11-24 | by ( Manoj Kumar | ) www.reuters.com time to read: +4 min

REUTERS/Rahul Grover Acquire Licensing RightsNEW DELHI, Nov 24 (Reuters) - A tunnel which collapsed, trapping 41 workers in the Indian Himalayas this month, did not have an emergency exit and was built through a geological fault, a member of a panel of experts investigating the disaster said on Friday. Rescuers are still struggling to reach the construction workers 12 days after the 4.5-km (3-mile) tunnel caved in. Preliminary findings indicated the collapse may have been caused by a geological fault, known as a "shear zone", a member of the panel told Reuters, speaking on condition of anonymity as he is not authorised to talk to the media. "Once the rescue operations are over, we will conduct detailed investigations to find out loopholes in the construction," the panel member said. The tunnel was being built by the state-run National Highways and Infrastructure Development Corporation which is under India's Ministry of Road Transport and Highways.

Persons: Rahul Grover, Vishal Chauhan, Narendra Modi's, Hemant Dhyani, Manoj Kumar, YP Rajesh, Andrew Heavens Organizations: Media, REUTERS, Highways, Infrastructure Development Corporation, India's Ministry of Road Transport, National Highways Authority of India, Supreme, Reuters, YP, Thomson Locations: Uttarkashi, Uttarakhand, India, DELHI

Steel coils are waiting for delivery at the storage and distribution facility of German steel maker ThyssenKrupp in Duisburg, Germany, November 16, 2023. Scholz's three-way coalition is reeling from a court ruling last week that wiped 60 billion euros ($65 billion) from the budget at a stroke and forced it to freeze most new spending commitments, delaying talks on the 2024 budget. LOSS OF CONFIDENCEGermany's steel sector added its voice to the growing jitters, warning that the court ruling had put a question mark over more than 40 billion euros in planned investments. "I find it correct that the consequences of the constitutional court ruling ... are checked carefully," Scholz told a news conference. Scholz also described this as conceivable, participants at the meeting told Reuters, adding that the court ruling put the coalition into a difficult situation but it could be resolved.

Persons: Wolfgang Rattay, Chancellor Olaf Scholz, Robert Grundke, Bernhard Osburg, Osburg, Berlin, Scholz, Achim Post, Andreas Rinke, Christoph Steitz, Holger Hansen, Rene Wagner, Matthias Williams, Christina Fincher Organizations: REUTERS, Economic Cooperation, Development, Reuters, Scholz's Social Democrats, Thomson Locations: Duisburg, Germany, FRANKFURT, Paris, United States, decarbonisation

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