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Eurozone surprises by avoiding contraction in last quarter of 2022

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Eurozone surprises by avoiding contraction in last quarter of 2022

The eurozone continued defying the percentages by displaying financial development within the final quarter of 2022, a interval by which most analysts and buyers anticipated to see a contraction.

The 20-strong bloc grew by an especially modest 0.1% price throughout final 12 months’s fourth quarter in comparison with the earlier quarter, the place it had expanded by 0.3%, in accordance with preliminary figures launched by Eurostat on Tuesday morning.

This implies an estimated 3.5% development price for your complete 12 months.

“Excellent news: the euro space prevented a contraction within the final quarter of 2022,” Paolo Gentiloni, European Commissioner for the financial system, stated on Twitter.

“We proceed to face a number of challenges however the outlook for this 12 months appears to be like just a little brighter at the moment than within the autumn.”

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The event confirms a rising pattern of optimism that’s progressively pushing away the spectre of a much-dreaded recession brought on by Russia’s battle in Ukraine, the vitality disaster and hovering inflation.

The Worldwide Financial Fund, J.P. Morgan and Goldman Sachs have in current weeks revised upwards their 2023 forecasts for the eurozone, reflecting the bloc’s resilience within the face of an unprecedented financial panorama.

‘Not horrible, however not good both’

A technical recession is outlined as two consecutive quarters of financial contraction, though different components, corresponding to employment, salaries and international funding, could be considered earlier than making the ultimate designation.

The eurozone has not registered a adverse quarter since early 2021 when a brand new wave of COVID-19 infections and lockdown restrictions pushed the bloc right into a double-dip recession.

“We have been all very pessimistic after the summer time as a result of gasoline costs went via the roof after Russia minimize off gasoline exports to Europe. All people was forecasting a really tough time through the winter,” Grégory Claeys, a senior fellow at Bruegel, a Brussels-based economics assume tank, informed Euronews after the discharge of the GDP knowledge. 

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Sturdy underground gasoline storage, purchases of non-Russian liquefied pure gasoline (LNG), continued fiscal assist, EU-wide energy financial savings plans and a milder-than-usual winter have labored collectively to cushion probably the most devastating impression of the vitality disaster, Claeys famous, together with the dreaded state of affairs of necessary gasoline rationing and mass industrial shutdowns.

However uncertainty remains to be excessive, as Russia exhibits no indicators of stopping the invasion of Ukraine any time quickly. Moreover, the continent faces the onerous job of re-filling its underground storage with none Russian gasoline earlier than subsequent winter arrives.

“It is not horrible, nevertheless it’s not good both,” Claeys stated.

Germany contracts

Nation by nation, the Eurostat figures present a combined image throughout the eurozone: Belgium (0.1%), Spain (0.2%), France (0.1%), Latvia (0.3%) and Portugal (0.2%) are amongst those that recorded optimistic, albeit restricted, development charges.

Alternatively, Italy (–0.1%), Lithuania (–1.7%) and Austria (–0.7%) contracted. 

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Germanys, the bloc’s industrial powerhouse, posted a worse-than-expected adverse price (–0.2%) following a number of quarters of average development.

The decline was linked to a drop in client spending attributable to persistently excessive inflation.

Eire remained the best-performing nation, with a formidable 3.5% price within the fourth quarter.

Eire’s GDP statistics have been criticised by some economists as deceptive and out-of-touch as a result of they’re closely influenced by international funding from multinationals looking for to profit from the nation’s infamous low-tax system.

“The eurozone’s determine is biased by Eire’s,” Claeys stated. “Possibly with out Eire’s quantity, the eurozone would have posted adverse development within the final quarter of 2022.”

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Ron Ely, Star of TV’s Tarzan, Cause of Death Revealed

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Ron Ely, Star of TV’s Tarzan, Cause of Death Revealed


Ron Ely Dead: ‘Tarzan’ Actor Cause of Death Revealed — Obituary



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Scientists study ‘very rare’ frozen remains of 35,000-year-old saber-toothed cub

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Scientists study ‘very rare’ frozen remains of 35,000-year-old saber-toothed cub

A mummified saber-toothed cub of a catlike animal dating back 35,000 years was left almost perfectly preserved in Siberia’s permafrost.

The remains had been found back in 2020, northeast of Yakutia, Russia. Research regarding the study of the cub was published in the journal Scientific Reports on November 14, 2024. 

The discovery of frozen remains from the Late Pleistocene period is “very rare,” according to the published research, though most discovered in Russia lie in the Indigirka River basin, the authors note. 

The mummified saber-tooth cub found in Siberia’s permafrost was studied by scientists and found to have been buried around 35,000 years ago. (Alexey V. Lopatin)

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The mummified cub remained well-preserved, frozen in time for thousands of years. The frozen nature of this find left it in impressive condition, even still containing fur. 

“The mummy body is covered with short, thick, soft, dark brown fur with hair about 20–30 mm long,” the authors wrote in the published research, also pointing out that the fur that was located on the back and neck of the cub was longer than the hair that was found on the legs. 

The head of the mummy was also left well-preserved, down to its chest, front arms and paws. 

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The study of this find wasn’t just a unique opportunity for scientists, it also provided first-of-its kind research.  

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“For the first time in the history of paleontology, the appearance of an extinct mammal that has no analogues in the modern fauna has been studied,” the authors of the study explained. 

Heads of three-week-old cubs

This discovery provided an extremely unique and rare opportunity for scientists to study an extinct species that was so well preserved. (Alexey V. Lopatin)

The scientists determined that the cub had died at about three weeks old. It was identified by the authors of the study as belonging to the species Homotherium latidens and had many differentiations from a modern lion cub of a similar age. 

The shape of the muzzle displayed by the mummified cub, which had a large mouth and small ears, plus a “massive” neck, long forelimbs and a darker colored coat, were all among key differences from today’s modern lion cubs that scientists observed. 

2,000-YEAR-OLD ROMAN ROAD DISCOVERED BY ARCHAEOLOGISTS IN LONDON

Scientists also worked in their research to find out how the extinct species was able to survive through frigid temperatures.  

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Large contributors to their survival were the shape of the large paws and absence of carpal pads. Scientists believe these elements helped them get through the snow.

In recent years, there have been other ancient animals found in Siberian permafrost. 

Skull of cub

Analysis of the cub’s skull helped scientists identify it as belonging to the genus Homotherium. (Alexey V. Lopatin)

 

For example, in 2021, a mummified wolf was discovered that dated back over 44,000 years, Live Science reported in June 2024. 

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More than 100 Palestinians killed in Israeli attacks on Gaza in 48 hours

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More than 100 Palestinians killed in Israeli attacks on Gaza in 48 hours

Director of the Kamal Adwan hospital says several staff wounded in Israeli bombardment.

At least 120 people have been killed in Israeli attacks on Gaza in two days, Palestinian health officials said, as Israel intensified its bombardment across the besieged territory.

At least seven people were killed when a residential home was hit overnight in the Zeitoun suburb of Gaza City, health officials said on Saturday. The other deaths were recorded in central and southern Gaza.

Israeli air raids caused significant damage to al-Faruq Mosque in the Nuseirat refugee camp in central Gaza, according to a social media video verified by Al Jazeera.

Israeli forces also deepened their ground offensive and bombardment of northern Gaza, where one of the last partially operating hospitals was hit, wounding several workers.

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Hussam Abu Safia, director of the Kamal Adwan Hospital, said in a statement on Saturday that Israeli forces “directly targeted the entrance to the emergency and reception area several times, as well as the hospital courtyards, electrical generators, and hospital gates”.

The bombardment “resulted in 12 injuries among doctors, nurses, and administrative staff within the emergency and reception areas”, he said.

The Israeli military rejected the allegations and said it was “not aware of a strike in the area of the Kamal Adwan Hospital” following an initial review of the situation.

On Friday, Gaza’s Ministry of Health said hospitals have fuel left for only about two days before it needs to start restricting services.

Israel’s military imposed a siege and launched a renewed ground offensive in northern Gaza last month, saying it aimed to stop Hamas fighters from waging more attacks and regrouping in the area.

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The United Nations warned earlier this week that almost no aid had been delivered to northern Gaza since Israel’s renewed offensive as aid groups and food security experts warn of a famine in the area.

In a call with Defence Minister Israel Katz on Saturday, United States Defense Secretary Lloyd Austin pressed Israel to “take steps to improve the dire humanitarian condition in Gaza”, the Pentagon said.

Israel’s assault on Gaza has killed more than 44,000 people and wounded more than 104,000 since October 2023, according to Palestinian health officials.

Israel launched its assault on Gaza after the Hamas-led attacks on southern Israel on October 7, 2023, in which at least 1,139 people were killed and about 250 others seized as captives.

A spokesperson for the armed wing of Hamas, Abu Ubaida, said later on Saturday that a female Israeli captive in the group’s custody had been killed in northern Gaza in an area under attack by Israel’s forces.

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“The life of another female prisoner who used to be with her remains in imminent danger,” he added, accusing the government of Prime Minister Benjamin Netanyahu of being responsible and of undermining efforts to end the war.

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