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German GDP has fallen the most since 1970 in the second quarter | Instant News


People wearing protective masks walk on the main shopping street in Munich during the coronavirus crisis on April 30, 2020, in Germany.

Alexander Hassenstein / Getty Images

Germany recorded the worst setback in the economy in the second quarter since 1970, according to statistics released on Thursday.

German gross domestic product fell seasonally adjusted 10.1% quarter-on-quarter, which was worse than economists forecast a 9% decline.

The Federal Statistics Office said there was a “major downturn” in exports and imports of goods and services, as well as for household final consumption expenditure and capital formation in machinery and equipment.

Release comes much sooner than usual, only 30 days after the quarter ends versus 45 more typical days. The statistics agency warns that revisions may therefore be larger than usual.

“In the midst of significant uncertainty about current activities, this challenge is even more frightening than usual. While high frequency data such as retail footprint data, flight statistics and truck mileage provide guidance for current trends, it is still unclear how closely some of the steps recently watched track official statistics, “said Florian Hense, an economist at Berenberg The bank, which added the economy could recover about 40% of its losses in the third quarter.

US later on Thursday estimated to report a 35% annual decline in second quarter GDP.

Euro currency
EURUSD,
-0.25%

hovering lower after the release, which also came as Germany reported the unemployment rate remained at 6.4% in July. The most prominent reaction on the stock market, such as the German DAX
DAX,
-2,13%

slipped 2.5%.

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Louis Mobile Food Market will be in your Community in Partnership with St. Louis. Louis Area Foodbank Listing for August 1 – 21 | Instant News




Louis Mobile Food Market will be in your Community in Partnership with St. Louis Area Foodbank Listing for August 1 – 21 | RiverBender.com





















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Barrel taps former assistant assumed the duties of attorney for the Eastern district of new York | Instant News


The top Federal Prosecutor in Brooklyn, is leaving his post to work in the U.S. Department of justice in Washington.

On Thursday, Richard Donohue, the U.S. attorney for the Eastern district of new York, told his employees that he will be the top Deputy of the Deputy attorney General Jeffrey A. Rosen.

The changes will take effect Monday, said John Marzulli, a spokesman for the U.S. attorney’s office.

Later, the Ministry of justice on Friday posted the statement that attorney General William Barr was installed Seth D. Ducharme as acting attorney General of the United States for the Eastern district. Ducharme acted as counsel barrels from March to December 2019.

“Seth served in the Department with honors in his time in the Ministry of justice,” said attorney General Barr stated in the message of Ministry of justice. “He is a talented and experienced Prosecutor who runs a firm hand. His experience in investigating violent crime, terrorism and corruption in the public sector, will serve him well in his return to new York to head the office. The Deputy attorney-General and I look forward to working with him in his new role.”

Reuters said Ducharme that the star has increased dramatically during the administration of President Donald trump.

Donohue is the second district attorney in new York city to leave his post in recent weeks. His former colleague Jeffrey Berman Manhattan was recently fired after he oversaw a number of investigations that annoying trump.

Donohue was appointed U.S. attorney in the beginning of 2018, serving as chief Federal Prosecutor for the region, which includes Brooklyn, Queens and long island. He was not officially nominated trump, but sworn in a few months by the judges of the district.

The Eastern district initiated several high-profile cases, during his stay Donoghue, including the condemnation of the notorious drug Lord Joaquin “El Chapo” Guzman.

This associated Press report earlier appeared in NYPost.com.

Read on:Says Berman Barr has repeatedly called on him to resign as the top SDNY Prosecutor

If the wire services.

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Vaccines against coronavirus still could not cause of herd immunity in the U.S., Fauci warns | Instant News


USA “unlikely” to develop a collective immunity to COVID-19, Dr. Anthony Fauci said on Sunday, due to the potential combination is only partially effective vaccine and a large number of people who refuse to take it.

Speaking on Sunday evening on CNN’s Elizabeth Cohen in the framework of the aspen ideas festival, Fauci said he would “settle” for vaccines against the coronavirus, which is 70% to 75% efficient. Compared to the measles vaccine is 97% to 98% effective.

“It would be great if we get there,” Fauci, the government’s top infectious disease expert says. “I don’t think we will. I would agree on 70, 75% effective vaccine”.

Fauci said he still believes that the vaccine will be developed. A number of promising drugs are under development, and it is expected that the vaccine can be distributed as soon as the end of the year, though officials warn that, most likely, too optimistic.

Read: Racing COVID-19 vaccine manufacturers of medicines, expansion of production — up to developed

But Fauci noted another obstacle: “there is a General against science, against the authorities, against vaccination, the feeling among some people in this country — an alarmingly large percentage of people, relatively speaking.”

“We have a lot of work to do” to educate the public about the potential of the vaccine, said Fauci. “It won’t be easy”.

According a CNN poll in Juneabout one-third of Americans receive vaccines against coronavirus, if will be developed and widely disseminated at a low price.

Herd immunity is achieved only when “a significant portion of the population has immunity to infectious diseases (vaccination and/or prior illness) to make its spread from person to person unlikely” according to the CDC.

To watch the entire interview here:

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Britain, Australia and Canada joined the Trump administration in condemning China’s national security law for Hong Kong | Instant News


The governments of the US, Australia, Canada and Britain issued a joint statement Thursday reaffirming “their deep concern about Beijing’s decision to enact national security laws in Hong Kong,” after the Chinese parliament, the National People’s Congress passed laws Thursday which could severely limit democratic freedom.

The new law, which was enacted without the approval of Hong Kong’s elected Legislative Council, will prohibit activities such as “dividing the country, subverting state power” as well as foreign interference in Hong Kong, according to the Nikkei Asian Review.

Read more: Revoking Hong Kong’s special status is Trump’s ‘nuclear option’ which could trigger an irrevocable US-China split, analysts warn

Pro-democracy supporters in Hong Kong say that the law violates judicial independence approved by China when negotiating the 1997 territorial surrender with Britain, which had guaranteed that Hong Kong would operate under capitalist and democratic principles until at least 2047.

“Hong Kong has developed as a stronghold of freedom,” the statement said. “Immediate imposition of national security law in Hong Kong by the Beijing authorities, rather than through Hong Kong institutions themselves … will limit the freedom of the people of Hong Kong and dramatically erode Hong Kong’s autonomy and the system that makes it so prosperous.

see: Chinese lawmakers support Hong Kong’s national security law

The four countries also objected to the action as “in direct conflict with their international obligations based on the principles of the legally binding and registered United Nations-British Joint Declaration” made in 1984, which paved the way for 1997 Hong Kong’s migration. Kong to China.

“This also increases the prospect of prosecution in Hong Kong for political crimes, and weakens existing commitments to protect the rights of the people of Hong Kong – including those stipulated in the International Covenant on Civil and Political Rights and the International Covenant on Economic, Social and Cultural Rights,” the statement continued.

See also: “The worst nightmare is before our eyes,” democratic legislators said after Beijing moved to enact security laws in Hong Kong

China’s move to enact the new law comes after US Secretary of State Mike Pompeo Wednesday’s declaration that Hong Kong “is no longer autonomous with China.” The Secretary is required by law 2019 to annually verify Hong Kong’s independence, with the same law – the Hong Kong Human Rights and Democracy Act – which states that “Hong Kong must remain autonomous enough from the People’s Republic of China to justify” the treatment specifically different from those given to mainland China.

Hong Kong is currently the beneficiary of many privileges not granted to China, including visa-free travel between the US and Hong Kong, lower tariffs and mandate access to US dollars. While the Trump Administration has not said whether to revoke one of these privileges, do it can have a significant impact on the Hong Kong economy and U.S. company with regional headquarters there.

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A Canadian judge said the Huawei executive extradition case could continue | Instant News


VANCOUVER, British Columbia (AP) – A Canadian judge ruled on Wednesday the U.S. extradition case a senior executive of Huawei can move on to the next stage, a decision that is expected to further damage relations between China and Canada.

Canada arrested Meng Wanzhou, daughter of the founder and chief financial officer of the Huawei company, at Vancouver airport in late 2018. The US wants him to be extradited to face charges of fraud. His arrest angered Beijing, who regarded his case as a political move designed to prevent a Chinese revival.

Head of Justice Heather Holmes said in her decision that the accusation against Meng could constitute a crime in Canada and therefore extradition could proceed.

The US accuses Huawei of using a Hong Kong shell company to sell equipment to Iran in violation of U.S. sanctions. It said Meng, 48, committed fraud by misleading HSBC banks about the company’s business transactions in Iran.

Lawyer Meng argued during the trial in January that the case was actually about US sanctions against Iran, not a case of fraud. They argue that because Canada does not have similar sanctions against Iran, there is no fraud under the law.

“MS. Meng’s approach to dual criminality analysis will seriously limit Canada’s ability to fulfill its international obligations in the context of extradition for fraud and other economic crimes,” wrote Holmes.

Holmes said Canada did not have economic sanctions against Iran at the time but noted the sanctions used by the U.S. “basically does not conflict with Canadian values.”

His legal team is scheduled to return to court on June 15 and will argue that Canada Border Services, the Royal Canadian Mounted Police and the FBI violated Meng’s rights while collecting evidence before he was actually arrested. Extradition cases usually take years in Canada.

The verdict against Meng, the company’s chief financial officer, is expected to erode the already damaged relations between Beijing and Ottawa.

In retaliation for Meng’s arrest, China arrested former Canadian diplomat Michael Kovrig and Canadian businessman Michael Spavor. China has also placed restrictions on various Canadian exports to China, including canola oil seeds. China also sentenced Canadian drug smugglers to death in a sudden retrial.

Huawei is the largest global supplier of network equipment for telephone and internet companies and some analysts say Chinese companies have violated international rules and norms amid accusations of technology theft. The company represents China’s progress in becoming a technological force and has been the subject of U.S. security issues.

Ahead of the decision, Meng posed for photographs on the court steps last weekend, giving a thumbs up sign. She appeared in court on Wednesday wearing a black dress and wearing anklets.

The Canadian Department of Justice said in a statement that a judge at a further trial would determine whether Meng’s actions allegedly provided sufficient evidence of fraud to fulfill the extradition test.

“An independent judge will determine whether the test is fulfilled. This speaks of the independence of the Canadian extradition process, “the statement said.” The minister does not personally make decisions related to the extradition process until and unless the judge commits people to extradition. ”

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