World
Inflation across the eurozone reaches new all-time high of 8.9%
Inflation throughout the eurozone has reached a brand new all-time excessive of 8.9% in July, up from 8.6% in June.
A complete of 10 states that use the one forex seem in double-digit territory: Belgium, Estonia, Greece, Spain, Cyprus, Latvia, Lithuania, the Netherlands, Slovenia and Slovakia.
The information from Eurostat is yet one more ominous signal for the bloc’s financial system, which is regularly slowing down, elevating the probability of a recession.
Costs in July continued to climb in most international locations, pushed by the worsening disruption in world power markets fuelled by Russia’s invasion of Ukraine.
The upward development in gasoline costs has spilled over to different merchandise, together with recent vegatables and fruits.
The July studying exhibits a timid regression in power inflation — from 42% in June to 39.7% in July — however a rise in the entire different indicators.
The worldwide meals disaster, disrupted provide chains and China’s strict zero-Covid lockdowns are additionally placing strain on on a regular basis items and companies.
Core inflation, which excludes unstable gadgets and provides a greater thought of shoppers’ precise buying energy, stood at 4%, the best mark for the reason that creation of the euro.
In Germany, the EU’s industrial powerhouse, inflation rose to eight.5% on a yearly foundation, after a small lower final month (8.2%) that briefly raised hopes of aid.
France’s costs rose by 6.8%, whereas Italy’s grew at a 8.4% price.
The Baltic international locations stay significantly affected by the upward development — Estonia (22.7%), Lithuania (20.8%) and Latvia (21%) — on account of their heavy reliance on overseas imports to fulfill their power wants.
It’s unclear when or how the power disaster will start to ease: the Kremlin has proven it’s prepared to manipulate gasoline flows in retaliation for Western sanctions.
Nations are already getting ready for a worst-case state of affairs the place Russia unilaterally interrupts all provides and sends the EU right into a deep, painful recession.
The most recent inflation studying from Eurostat comes per week after the European Central Financial institution (ECB) introduced a larger-than-expected hike in rates of interest, the primary transfer of that sort in 11 years.
The ECB has indicated it would proceed mountain climbing charges if the financial state of affairs deteriorates, ditching the normal ahead steering and embracing as a substitute a meeting-by-meeting strategy to resolve its subsequent steps.
July’s inflation variety of 8.9% is greater than 4 instances the two% goal desired by the financial institution.
Even Malta, the eurozone member with the bottom inflation price (6.5% in July), vastly overshoots the ECB’s objective.
Partial GDP information, additionally launched on Friday, confirmed a 0.7% development throughout the eurozone and 0.6% within the EU in the course of the second quarter of 2022 in comparison with the earlier interval.
“Excellent news! Euro space financial system outperforms expectations in Q2,” Paolo Gentiloni, European Commissioner for the financial system, said on Twitter. “Uncertainty stays excessive for the approaching quarters: want to take care of unity [and] be prepared to answer an evolving state of affairs as crucial.”
Germany registered 0% development, whereas Latvia, Lithuania and Portugal entered destructive territory. France averted a technical recession after increasing by a timid 0.5% price.
The bloc’s GDP information contrasts with that of the Untied States, which this week posted a second quarter of contraction in a row.
World
US citizen imprisoned in Russia given new 15-year sentence in wake of espionage conviction
A Russian-born U.S. citizen who was already behind bars in Russia on a bribery conviction has been handed a second sentence for espionage.
Eugene Spector was sentenced to a new 15-year term for his espionage conviction, according to Russian news agencies. Spector was born and raised in Leningrad, Russia, but later moved to the U.S. and became a citizen.
A Moscow court brought espionage charges against Spector in August of last year, although details surrounding the case were not made publicly available.
RUSSIA ARRESTS US CITIZEN ON ESPIONAGE CHARGES: REPORT
The U.S. State Department said it was aware of reports of a U.S. citizen in Russia being sentenced and that it was monitoring the situation.
Spector, a former executive at a medical equipment company in Russia, was sentenced in September 2022 to three and a half years in prison for enabling bribes to an aide of former Russian Deputy Prime Minister Arkady Dvorkovich.
WALL STREET JOURNAL’S EVAN GERSHKOVICH REVEALS SHADOWY KREMLIN FIGURE BEHIND IMPRISONMENT IN RUSSIA
The aide, Anastasia Alekseyeva, was sentenced to 12 years in April for accepting bribes of two expensive overseas vacation trips.
Dvorkovich was a deputy prime minister under former Russian Prime Minister Dmitry Medvedev in 2012 to 2018. Dvorkovich is currently head of the international chess federation FIDE.
The Associated Press contributed to this report.
World
Passenger plane crashes in Kazakhstan: Emergencies ministry
BREAKINGBREAKING,
Passenger plane crashed near the city of Aktau.
An passenger plane flying from Azerbaijan to Russia crashed near the city of Aktau in Kazakhstan, the Central Asian country’s Emergencies Ministry said in a statement.
Fourteen people had survived the crash and had been hospitalised, according to the local health officials.
“At the moment, 14 survivors have been taken to the regional hospital, including five in intensive care,” the health ministry’s regional department said in a statement. The Emergencies Ministry said fire services had put out the blaze
Azerbaijan Airlines said the Embraer 190 aircraft, with flight number J2-8243, had been flying from Baku to Grozny, the capital of Russia’s Chechnya, but had been forced to make an emergency landing approximately 3 km (1.8 miles) from the Kazakh city of Aktau.
Russian news agencies said the plane had been rerouted due to fog in Grozny.
Authorities in Kazakhstan said they had begun looking into different possible versions of what had happened, including a technical problem, Russia’s Interfax news agency reported.
More to follow.
World
Justin Baldoni Sued by Former Publicist Amid Blake Lively Scandal
Justin Baldoni‘s former publicist sued him, his company and his current publicity team on Tuesday, amid a spiraling scandal over an alleged smear campaign against Baldoni’s “It Ends With Us” co-star Blake Lively.
Steph Jones, who owns Jonesworks, accused Baldoni of breaching their contract, which required him to pay her $25,000 per month. Baldoni dropped the firm in August, a few months into a year-long deal, after his Jonesworks publicist, Jennifer Abel, left the company to start her own publicity firm.
Jones also sued Abel and publicist Melissa Nathan, accusing them of implementing the smear campaign against Lively behind her back and without her knowledge. She alleges that they are now trying to blame her for the ensuing meltdown.
“To this day, Abel and Nathan continue to point the finger falsely at Jones now that their own misconduct is coming to light, and to defame and attack Jones in the industry,” the lawsuit states.
Lively filed a complaint on Saturday with the California Civil Rights Department, accusing Baldoni and his publicists of orchestrating negative coverage about her in retaliation for her complaints of sexual harassment on set.
In the complaint, Lively accused Baldoni of a catalog of sexually inappropriate comments and behavior that allegedly took place on set in 2023. According to the complaint, she raised these issues through her attorneys before filming, which had been suspended during the Hollywood strikes, resumed earlier this year.
The rift between Baldoni and Lively became apparent during the publicity tour for the film last summer. Baldoni feared that Lively or her team would public accuse him of sexual misconduct, and sought ways to combat that. The complaint quoted extensively from text messages among Baldoni’s publicity team, in which they plotted to “bury” Lively.
In an unusual move, Lively’s attorneys obtained the messages by sending a pre-litigation subpoena to Jones.
Abel, Nathan, and Baldoni are represented by attorney Bryan Freedman. On Monday, Freedman threatened to sue Jones for releasing the contents of Abel’s phone to Lively’s legal team. Freedman, Abel and Nathan did not immediately respond to a request for comment on Jones’ suit.
In her lawsuit, Jones relates that she “forensically preserved” Abel’s company phone after Abel was fired.
“Abel and Nathan’s covert take down and smear campaigns were revealed in black and white on Abel’s company-issued phone following her termination, which Jonesworks forensically preserved and examined in detail after receiving a subpoena for the phone’s contents,” Jones’ suit states. “Jones discovered the breadth and intensity of Abel and Nathan’s duplicity from these records, including that Abel was actively encouraging other Jonesworks clients and employees to leave Jonesworks while Abel was still employed there.”
Jones’ suit alleges that Abel conspired for months to leave her company and to “steal” her clients and trash her reputation in the industry. She accuses Nathan of encouraging Abel to leave, because Nathan would then have greater access to those clients.
“This scheme ultimately inflicted serious damage on Jones and Jonesworks,” states the lawsuit, which was filed in state court in New York.
Among other things, the suit alleges that Abel and Nathan planted negative stories about Jones in the press, including an article in Business Insider that was published last summer.
The suit alleges breach of contract, tortious interference with contract, breach of fiduciary duty and defamation.
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