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EXCLUSIVE Lindner’s planned tax cuts could help top earners the most. The finance minister has announced the reduction of cold tax progression for 2023, without going into detail so far. Calculations by the Bremen Chamber of Labor show that those citizens who earn the most – and suffer the least from inflation and high prices – could benefit most from Lindner’s plan. According to the experts, 90 percent of the population would benefit more from a direct payment of 600 euros than from the reduction of cold progression. To the article (SZ Plus)
Germany moves into the EM final. In a passionately led semi-final against France, the German captain Popp is again the outstanding figure. She scored 1-0 with a volley, 2-1 with her head – on Sunday tournament hosts England and almost 90,000 spectators are waiting in Wembley. Go to Article
The US Federal Reserve raises interest rates by 0.75 percentage points due to inflation. It is now in the range of 2.25 to 2.5 percent. The logic behind this is: Higher key interest rates make loans more expensive, US private individuals no longer spend as much money. In order to keep selling their products, companies have to lower their prices and inflation would fall, at least according to the textbooks. But while higher interest rates are meant to curb inflation, they can dangerously stall the economy. When interest rates rise, companies have to pay more for loans, for example. Go to Article
Railway quality inspectors warned internally three years ago of disaster in the rail network. Anatol Jung had confidentially asked numerous employees about deficiencies in the control and safety technology for train traffic. The answers were mostly devastating. In an “Outlook” he warned several executives that if the many grievances were not eliminated, there would be “massive restrictions” on the Internet. Up to route closures. And the risk of accidents will increase “significantly”. Instead of thanking him, the company sent him several resignations. To the article (SZ Plus)
US Democrats agree on smaller climate and social package. President Biden had planned a gigantic spending program that his party colleague, Senator Manchin, had long blocked. Now he agrees to a significantly reduced package: 430 billion dollars are to flow into climate protection and health insurance. Go to Article
Meta reports lower sales for the first time since its IPO. For a long time, the Facebook parent company seemed immune to data scandals and economic weakness. But in the second quarter, sales fell by about one percent year-on-year to $28.8 billion. Profits shrink by 27 percent to almost 6.7 billion dollars. Meta points to the strong dollar leading to an unfavorable translation of foreign earnings on the balance sheet. But the group also feels the pressure of the competition from Tiktok. Go to Article
Corona infected people no longer have to isolate themselves in Austria. Even those who have tested positive for Covid will be allowed to go out among people in the future – with a mask over their mouth and nose. The Minister of Health justified the end of the quarantine with a view to the psychological and social consequences of the Corona crisis. Go to Article
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war in Ukraine
USA: More than 75,000 dead or injured Russian soldiers. If the number is correct, that would be an enormous proportion of the Russian armed forces. Foreign Minister Blinken wants to telephone his Russian counterpart Lavrov soon. According to NASA, Moscow will now work on the International Space Station (ISS) until at least 2028. President Zelensky offers EU support with Ukrainian electricity. To the live blog
US apparently offers Russia a prisoner exchange. In a bid to bring home a basketball player jailed in Russia and another US citizen, the Biden administration appears poised to release a well-known Russian arms dealer. Foreign Minister Blinken wants to telephone his Russian counterpart Lavrov soon. Go to Article
best things
bargain price. Australian artist Matthew Griffin pulled a slice of cucumber out of a cheeseburger and threw it at the ceiling of a gallery in New Zealand. He demands 6150 euros for the work. Is that a flat joke or high art? Go to Article