Economy

Amid blackouts and scarce food, Cuba protests rattle ‘cradle’ of the Revolution

By Valerie / March 27, 2024 /

SANTIAGO DE CUBA, March 27 (Reuters) – A crowd swarms the steps of a small state-run market on the outskirts of Santiago, Cuba’s second-largest city, sweating and shouting, jostling for a chance at a once-monthly ration of chicken.
A pound bag of thighs is going for a bargain 20 pesos – about a nickel at the black-market exchange rate – but furor devolves to chaos as word spreads there may not be enough for everyone.
And that’s when the lights go out.
“This is life here,” said Mauri Macias, a 39-year-old chef with two children who spoke with Reuters as he waited his turn to buy a handful of the government-subsidized poultry. “You live without being able to make plans.”

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Canadians & Class: Strong belief in Canada as a meritocracy, but plurality identify as the same social class as their parents

By Valerie / March 27, 2024 /

Few believe social class is important for success, but two-in-five’s class stayed static across generations
Pour la version française, cliquez ici.

September 21, 2023 – Canada is not one of the first countries to come to mind when one thinks of social class hierarchies, but it has been affected by the growing wealth inequality seen across the world in recent decades.

New data from the Angus Reid Institute in partnership with the University of Alberta Sociology Department explore social class and inequality in Canada through an in-depth survey of more than 8,000 Canadians.

Overall, Canadians are most likely to identify as middle class (42%). Approaching one-in-five identify as working class (17%), lower middle class (17%) and upper middle class (17%). Six per cent believe themselves to be lower or poverty class, while the smallest group – one per cent – say they are upper class. If you’d like to see how you fit on the class spectrum, click here to take the online quiz.

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Russian homeless man sets Hungarian homeless man on fire in Austria “Such a brutal act of violence fills me with shock, sadness and anger”

By Valerie / March 27, 2024 /

The Hungarian man who was set on fire in Austria on Saturday is in a critical but stable condition under intensive care. According to Austrian police, a 65-year-old Russian man doused him in flammable liquid and set him on fire.

The 52-year-old victim was lying in the open street in front of a shop in Graz when the Russian man allegedly approached him and set him ablaze, Austrian press outlet Die Presse reported. A witness identified the Russian man as setting the Hungarian man on fire, which led to the Russian man’s successful apprehension.

People in the area attempted to help the burn victim until ambulance and fire services arri

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Eurocrats want to dismantle EU’s agricultural market and shift food production to Ukraine and South America, warns senior Polish conservative MEP

By Valerie / March 27, 2024 /

The EU establishment is attempting to dismantle the Common Agriculture Policy (CAP), which has been the cornerstone of European food security for over 60 years, warns Polish MEP Jacek Saryusz-Wolski

March 26, 2024

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Moderna secures $750 million from Blackstone Life Sciences to develop flu shots

By Roli / March 27, 2024 /

Moderna (MRNA.O), opens new tab on Wednesday said Blackstone’s (BX.N)
, opens new tab life sciences arm would offer $750 million to help fund development of its flu vaccines, bolstering the company’s efforts to advance multiple vaccines in the face of a steep decline in sales of its COVID-19 shots.

Moderna is developing several new vaccines, including for cancer and respiratory syncytial virus (RSV), resulting in high research and development spending.

The funding will reduce R&D expenses, although Moderna said it still plans to spend about $4.5 billion this year.

“We’re excited about this because it checks all the boxes,” Chief Financial Officer James Mock said during the company’s 2024 vaccines day event. “It allows us to accelerate into new programs. It allows us to diversify our revenue stream and it reduces the risk, frankly, of the flu program as well.”

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Greek PM wants Canadian LNG as projects prepare to ship gas by next year

By Valerie / March 26, 2024 /

Greek Prime Minister Kyriakos Mitsotakis expressed interest in purchasing liquified natural gas from Canada while on his first visit to Canada.

While giving an interview in Montreal on CTV’s Question Period the Greek prime minister said that his country was “of course” interested in buying LNG from Canada.

Mitsotakis’ visit marks the first time a Greek prime minister has travelled to Canada in over 40 years.

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Majority of Canadians Support Saskatchewan in Not Collecting Carbon Tax on Home Heating

By Iron Will / March 26, 2024 /

More than half of Canadians say Saskatchewan is doing the “right thing” by refusing to collect the carbon tax on home heating, a new survey has found.

Fifty-four percent of those polled by Angus Reid say they support the actions of Premier Scott Moe and his Saskatchewan Party, with the majority of Canadians in every province except Quebec on board.

While only 41 percent of Quebecers support Saskatchewan’s decision to halt carbon tax collection on natural gas and electric home heating, nearly three-quarters of Albertans are behind the move, the survey found. Seventy-one percent of those polled in the neighbouring province said they supported the decision compared to 58 percent of Saskatchewan residents.

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‘Don’t go to Toronto’: Canadian city considers implementing a ‘rain tax’

By Roli / March 26, 2024 /

Severe hail storm damages solar farm and leaks dangerous chemicals.

Toronto’s proposal to charge homeowners a stormwater fee has sparked outrage and criticism.

Sky News host Caleb Bond reacted to Toronto’s proposal to implement a “rain tax”.

“You thought it couldn’t get any worse … don’t go to Toronto because they’re going to tax you when it rains,” he said.

“How are they going to assess this?

“You have to pay in Toronto for the water that falls out of the sky and goes into your own water tank.”

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Savings may not be Europe’s super weapon in economic battle

By Iron Will / March 26, 2024 /

Summary
Governments seek to mobilise savings
Economists sceptical this will make a difference
Financial advisors warn of risks for households
FRANKFURT, March 26 (Reuters) – As Europe seeks to hold its ground against economic rivals, politicians think they have a secret weapon: the untapped savings of its citizens.
From Italy selling government bonds to households, to French talk of a pan-European savings product or Britain offering tax breaks for investment in UK shares, governments across Europe are seeking ways to mobilise household wealth.
All these plans share an underlying thinking: Europe is sitting on plenty of cash that could be channelled towards its goals, from the green transition to beefing up militaries.

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Ontario deficit will triple as economy weakens, 2024 budget shows

By Iron Will / March 26, 2024 /

Province pushes back balanced budget date to 2026

High interest rates are expected to take a toll on Ontario’s economy this year, the province said in its 2024 budget, which includes projections of weak economic growth and a ballooning deficit.

Finance Minister Peter Bethlenfalvy tabled the government’s $214-billion budget at Queen’s Park Tuesday, saying it is investing in housing, roads and public services during a time of uncertainty without raising taxes.

“These investments and more are a signal to Ontarians of our commitment to keep building Ontario while retaining a prudent, targeted and a responsible approach to public finances,” Bethlenfalvy said at a news conference.

“We’re not backing down from investing in what matters most and we are not going to increase costs on our people.”

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