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Industry will bear the brunt of cuts under a gas rationing plan approved by EU nations. EU nations will reduce gas usage by 15% with some flexibility granted to Spain, Portugal and Hungary.

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AgBank of China's non-performing and bad loans which were placed in a special fund, co-managed by the Ministry of Finance and AgBank. AgBank receives agency commissions from the government for disposal of and recovery on non-performing assets of about $1.6 billion for 2009.

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Charlene Chu, Bank analyst of Autonomous Research, is an expert on non-performing loans in China's banking system. Chu's estimate of bad loans in China's banking system is 14% for other commercial loans. For the non-performing loan ratio of the banking system, she says her estimate is closer to 20%. The estimates were given at an event in Hong Kong in September 2015.

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Barcelona has been hit hard by the coronavirus. The city's small bars, restaurants and tapas places depend on the 1 million tourists visiting each year. The Las Ramblas Plaza is mostly deserted in these photos in DW.com, La Boqueria near Las Ramblas plaza is closed, airport traffic has dropped by 75% in summer months, 1.8 million depend on food from food banks with one picture of middle class persons reading newspapers while waiting for food. Many have lost their homes after losing jobs. One third of the city's hostels popular with young people are likely to close.

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The coalition of socialist, greens and communist parties could win about 205 seats says the Ifop poll. Jean Luc Melenchon is leading a effort by socialist parties to form the next government in France. It is the only alternative to Mr. Macron's party in the parliamentary elections on June 12 and June 19. Meenchon supports raising the minimum wage by 15%, introducing a wealth tax and lowering the retirement age. Another poll by BVA shows only 35% of French voters want Macron's party to win a majority. 

Germany under Scholz's socialist SPD and Greens has increased the minimum wage to 12 euros per hour as part of the election platform. The trend in Europe is now for support to workers and families to meet the high cost of living with inflation accelerated by the war in Ukraine, the energy shortages and higher food prices.

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The last kick on goal in a penalty shootout between Sweden and the US is decided by VAR review. The ball was hit so well that the American goalkeeper had difficulty keeping the ball outside the goal line even though she pushed it out. The Swedish women's team kept a remarkable composure throughout the game and the shootout.

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In a nutshell why the economy is lopsided benefitting some, ignoring many. Labour's (salaries of all working people including professional classes) share of gross domestic income is 50% in 2026 the lowest since 1947, and profits highest since 1950 at 12%. Then you have hourly wages up 3% since 2019, while profits are up 50%. Greg Ip of the WSJ says the causes are complex and implications sobering. He says you can be a red blooded capitalist and still worry- is something wrong or unsustainable? Political stability, good governance structures, good institutional structures that were set up since Lincoln (the beginnings for the Industrial Revolution), by TR and FDR/Frances Perkins (the basic institutional and good governance structures of modern America and now the industrialized world that allied labor and capital with fairness to all), the entire setup needs to be rebuilt and renewed. The problems are also appearing in Europe and causing dismay, with calls for rebuilding and renewal. ...

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The US Federal Reserve, America's central bank, would rather see a recession than for inflation to get a hold in the US. Another way of saying this is that the Fed sees the American economy fundamentally strong under the Biden administration as it strengthens protections for workers and families, corrects flaws in policies for rural America and in other areas, moves to attract foreign investment and gets US companies to invest in America. This makes the danger of inflation greater than a recession, so that a policy of aggressive action with interest rates is justified.

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Ashwin takes 5 wickets for 37 runs with Australia getting their lowest total in India of 91 runs in the second innings. 

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About 27 drugs have prices that exceeded the rate of inflation. Under a new law these drugs will face a Medicare penalty in the form of a rebate back to the government.

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Supply chains are back to normal with better shipping rates, delivery capacity and retailer inventory. This should have a restraining effect on surging inflation and is a good sign for the US Fed's Jay Powell in his fight against inflation.

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How TikTok is adversely affecting American businesses is covered in this story in WSJ. The effects on children and learning are even more serious because of the numbers of hours spent on such social media.

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PM Modi is shown in this video doing Yoga at the International Day of Yoga on the lawn of the UN Headquarters in New York City. People from all over the world came to this Yoga session the first of its kind spreading the message of Yoga in a troubled world with climate change, unhealthy lifestyles, and conflict.