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☆ Germany — burned by overrelying on Russian gas — now vows to end dependence on trade with China
▼ + stars: | 2022-11-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Germany's dependence on Russian gas is sparking a rethink of Berlin's foreign policy. Germany, an industrial powerhouse and Europe's biggest economy, is reliant on piped natural gas from Russia which accounts for 35% of the country's fuel imports. Europe's largest economy has since been diversifying away from Russian natural gas by importing liquefied natural gas from other countries and is racing to build more essential infrastructure to hasten the shift. It has also learnt a lesson from its Russia policy. In particular, Berlin is working on a new trade policy with China to cut dependence on Chinese raw materials, batteries, and semiconductor chips, Reuters reported in September.

☆ A federal judge compared the January 6 mentality to 'Nazi Germany' at the sentencing of a Capitol rioter
▼ + stars: | 2022-11-18 | by ( C. Ryan Barber | ) www.businessinsider.com time to read: +5 min

Walton made the comment as he sentenced a Capitol rioter who blamed Trump for January 6. The rioter, Dustin Thompson, was sentenced to three years in federal prison. Judge Reggie Walton made the remark at the sentencing of Dustin Thompson, a Capitol rioter who blamed Trump for his involvement in the January 6, 2021, attack on the Capitol. Following Thompson's conviction, Walton and federal prosecutors accused him of lacking candor while testifying under oath. In his own remarks to Walton, Thompson said he was "deeply ashamed" and apologized to the Capitol Police and "everyone" in the United States.

☆ Euro zone predicted to have a deep recession and a difficult, slow recovery
▼ + stars: | 2022-11-16 | by ( Silvia Amaro | ) www.cnbc.com time to read: +4 min

The euro zone economy is heading towards a recession, according to several economists. Daniel Roland | Afp | Getty ImagesThe euro zone is expected to plunge into recession in the coming months with economists warning "it will not be shallow." The 19-member zone that shares the euro currency has been under significant pressure since Russia's unprovoked invasion of Ukraine in February. Speaking earlier this month, ECB President Christine Lagarde highlighted that "the risk of recession has increased." Gas storageEven if the euro zone emerges out of recession in the first quarter of next year, economists say the subsequent months will still be hard.

☆ Biden, slamming Putin's weaponization of fossil fuels, outlines new climate funding pledges
▼ + stars: | 2022-11-11 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden discusses the 2022 U.S. midterm election results during a news conference in the State Dining Room at the White House in Washington, November 9, 2022. U.S. President Joe Biden on Friday used a keynote speech at the UN's COP27 climate conference to take aim at Russian President Vladimir Putin, saying that Moscow's war in Ukraine must not thwart global efforts to combat climate change. Russia's war only enhances the urgency of the need to transition the world off this dependency on fossil fuels," Biden said, reiterating similar comments by world leaders earlier in the week. "Today, as a down payment, we're announcing more than $150 million in initiatives that specifically support preparedness and adaptation efforts in Africa," Biden said. Such initiatives include broadening access to climate finance, providing disaster risk protection, strengthening food security and mobilizing the private sector, he added.

☆ Former German Chancellor Merkel defends her government's move to buy massive amounts of Russian gas, saying she has no regrets as it was right for the time
▼ + stars: | 2022-10-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The former German Chancellor said she had no regrets about her government's energy policy, per Reuters. "You always act in the time in which you find yourself," Merkel told reporters in Lisbon, according to Reuters. Merkel was referring to liquefied natural gas, a supercooled version of natural gas that can be transported via ships. She recently came under heavy scrutiny and criticism from political rivals, the press, and her peers for her Russia policy amid Moscow's invasion of Ukraine. Germany's Russian gas policy spanned decades, starting during the Cold War in the 1960s with the Pipelinepolitik policy that connected both sides with a pipeline.

☆ Buy these 8 stocks now before a 'pain trade' to the upside catches investors off-guard, says a top-2% fund manager
▼ + stars: | 2022-09-25 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

And I think that's going to be the story of this market." In fact, his fund, the Donoghue Forlines Yield Enhanced Real Asset ETF (DFRA), is in the top 2% of its category this year, according to Morningstar. "As people get more confidence, they're not going back into what I call the 'ARKK type' stocks," Forlines said. While Linde provides investors with a dividend yield of 1.69%, BHP has a gargantuan dividend yield of 13.4%. Unlike some of its peers, it hasn't been hurt by the dollar's massive rally this year, and its dividend yield is over 4% right now.

☆ 'Path to oblivion': Ukraine military gains could deepen Russia's economic problems
▼ + stars: | 2022-09-21 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

Foreign Ministry Of Uzbekistan | via ReutersUkraine's counteroffensive, which has seen vast swathes of Russian-occupied territory get recaptured, could be compounding Russia's economic troubles, as international sanctions continue to hammer its fortunes. Holger Schmieding, chief economist at Berenberg, said the recently Ukrainian military gains could hit Russia's economy hard. "Even more so than before, the Russian economy looks set to descend into a gradually deepening recession," Schmieding said in a note last week. Statistics are scarce on the true state of the Russian economy, with the Kremlin keeping its cards relatively close to its chest. She added that the Kremlin had "put Russia's economy on that path to oblivion" and vowed that sanctions were "here to stay."

☆ Inflation in Germany could hit a 70-year high of 10% amid Russia's natural-gas squeeze, German central bank chief says
▼ + stars: | 2022-08-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Germany's inflation rate could hit 10% this fall, the country's chief central banker told Rheinische Post. The country is dealing with an energy crisis as Russian natural-gas supplies slow. "The issue of inflation will not go away in 2023," Nagel told Rheinische Post, according to an official transcript from the German central bank. The German central bank had in June forecast 2023 inflation to reach 4.5%, but Nagel told Rheinische Post that price gains are likely to average over 6% instead. "If further delivery problems are added, for example due to prolonged low water levels, the economic prospects for the second half of the year would deteriorate further," Nagel told the German media outlet.

☆ See inside a 958-foot cargo ship, from the crew's living quarters to the massive engine room
▼ + stars: | 2021-12-23 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Second mate Bryan Boyle said workers celebrate hoidays on board with festive meals and community. In the video, second mate Bryan Boyle records the vast array of machinery that keeps the ship moving, as well as the crew's and officers' living quarters on the Maersk ship, which was built in 2006. Courtesy of Bryan BoyleThe video shows Boyle's living quarters, as well as a movie locker that holds hundreds of titles. Courtesy of Bryan BoyleThe ship has a massive gyrocompass that helps guide its course. Courtesy of Bryan BoyleThe video captures the engine room and the combustion engine that helps power a giant propeller.

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