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German economy may return to pre-crisis levels in early 2022: Finance Minister

October 13, 2020

BERLIN (Reuters) – The latest economic data provide hope that Germany’s economy can return to pre-crisis levels in early 2022, Finance Minister Olaf Scholz said on Tuesday.

a group of police officers riding on the back of a car: FILE PHOTO: VW re-starts Europe's largest car factory after coronavirus shutdown

© Reuters/POOL New
FILE PHOTO: VW re-starts Europe’s largest car factory after coronavirus shutdown

Germany’s rising level of government debt is not a problem because the country can tackle the situation with “good growth”, Scholz told TV station CNBC in an interview.

Scholz rejected concerns that state aid was artificially keeping alive companies that were in financial troubles in the wake of the crisis caused by the coronavirus pandemic.

Olaf Scholz wearing a suit and tie smiling and looking at the camera: German Finance Minister Scholz and Justice Minister Lambrecht hold news conference in Berlin

© Reuters/HANNIBAL HANSCHKE
German Finance Minister Scholz and Justice Minister Lambrecht hold news conference in Berlin

Germany’s government has taken steps such as allowing firms to delay bankruptcy filings until the end of the year, extended from an original deadline of end-September.

Helped by these measures, the number of firms declaring insolvency in Germany

Toyota expects to roll out a pilot fuel cell electric big rig early next year in North America

October 5, 2020

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Plano-based Toyota Motor North America and the company’s truck and bus subsidiary, Hino USA, say they will jointly develop a heavy-duty fuel cell electric big rig for the North American market.

The companies will use Hino’s new XL Series chassis and Toyota’s fuel cell technology to deliver “exceptional capability without harmful emissions,” according to an announcement Monday. The collaboration expands on an existing partnership to develop a 25-ton fuel cell electric truck for the Japanese market, which was announced earlier this year.

The first demonstration vehicle is expected to arrive in the first half of 2021, Toyota said.

“A fuel cell powered version of the Hino XL Series is a win-win for both customers and the community. It will be quiet, smooth and powerful while emitting nothing but water,” said a statement from Tak Yokoo, senior executive engineer at Toyota Research and Development.

Toyota and Hino have been working on

Rich nations tighten firehose of aid as virus outlasts early efforts

October 5, 2020

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By Howard Schneider, William Schomberg and Michael Nienaber

WASHINGTON/LONDON/BERLIN (Reuters) – If Round One of the coronavirus relief effort was the economic equivalent of “shock and awe,” new plans being developed by the world’s biggest economies for more assistance to businesses and consumers are taking a narrower and more tactical approach.

Governments around the world went in big, hard and fast in their initial efforts to blunt the economic hit from the global pandemic, drumming up roughly $10 trillion in spending plans through June, according to International Monetary Fund estimates. Central banks levered that up further with rate cuts, bond purchases and a raft of other credit programs.

But with President Donald Trump in quarantine after testing positive for COVID-19 and a resurgence in cases in Europe and the United States, there is an acknowledgment that the recovery is far from complete. Government and central bank officials are now devising

How much health insurance premiums cost if you retire early

October 3, 2020

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Health insurance is a large budget item for many Americans.

The average health insurance plan costs nearly $5,500 per year for an individual and close to $14,000 for a family, according to a 2020 study by eHealth.

Those totals vary based on factors like your age, where you live and whether or not you receive employer or government subsidies.

And if you are among the 49% of Americans who receive health insurance through your job, there is a good chance your health insurance will get much more expensive. Especially if you retire before becoming eligible for Medicare at age 65.

The millions of people with nongroup insurance, however, may become eligible for subsidies if their income drops enough in retirement.

Check out this video to hear from people who retired early and to learn how much you can expect to pay for insurance if you retire early.

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Here’s how much health insurance costs if you retire early

October 3, 2020

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GLOBAL MARKETS-Asian markets mixed in early trade, Tokyo edges up after trading outage

October 2, 2020

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By Stanley White and Pete Schroeder

TOKYO/WASHINGTON, Oct 2 (Reuters) – Asian markets were little changed on Friday, as a U.S. stimulus deal remained out of reach and investors waited on fresh U.S. employment data for a read on the economic toll from the coronavirus pandemic.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 0.11%. Australia’s benchmark S&P/ASX 200 index .AXJO fell 0.86% as a decline in oil and copper prices weighed on the resources sector.

Japan’s Nikkei 225 index .N225 was up 0.19% after the Tokyo Stock Exchange (TSE) resumed normal trading after its worst-ever outage brought the world’s third-largest equity market to a standstill.

U.S. stock futures ESc1 fell 0.23% as an additional economic stimulus package remained elusive despite renewed efforts from Washington negotiators.

After a day of negotiations, House Speaker Nancy Pelosi told reporters she did not expect an imminent agreement with the

D-FW apartment leasing surges after slowdown early in the pandemic

October 1, 2020

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Dallas-Fort Worth’s apartment market turned its back on the pandemic with a surge in third quarter leasing activity.

Net apartment leasing in North totaled almost 9,000 units – the most of any U.S. metro area, according to the latest survey by RealPage.

Leasing more than doubled from the 3,832 net apartment total in the previous quarter, which reflected the worst of the COVID-19 shutdown.

“The key story line for the country as a whole is that demand has bounced back in a big way from the weak level seen in the Spring, with Sun Belt markets leading the way,” said Greg Willett, chief economist of the Richardson-based apartment industry service firm. “Dallas-Fort Worth is the nation’s top apartment demand center once again, with the quarterly increase in the number of occupied apartments coming in at 8,957 units.

“That demand total is just a hair under the 9,504 units absorbed in

Why breaking your mortgage early for lower rates won’t save you money

September 29, 2020

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A growing number of homeowners are asking about breaking mortgage early for lower rates (Getty Images)

Record low mortgage rates might make breaking your term early seem enticing, but the penalty costs will wipe out the potential savings.

Variable mortgage rates have fallen over the course of the COVID-19 pandemic, following a string of interest rate cuts by the Bank of Canada. Fixed rates are also lower because of market forces pushing bond yields lower.

According to Ratehub, mortgage shoppers will find better deals on 5-year variable mortgages at around 1.6 per cent, compared to around 1.64 per cent for fixed.

Unless you are able to renew your mortgage at more favourable rates, current homeowners are locked out of the potential savings. That leaves breaking your mortgage early.

Online mortgage agency Nesto says there’s been an increased interest in breaking early in 2020, especially in August.

“Before the pandemic, most

China’s Rebound Lost Momentum in September, Early Data Show

September 27, 2020

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After 500 Years Trying to Tame Fatal Floods, China Tries a New Way — Photographer: Qilai Shen/Bloomberg

China’s economic rebound showed signs of plateauing in September, weighed down by lackluster home and car sales, a weaker stock market and worsening business confidence.

Recovery Plateauing

Outlook worsened, suggesting challenges remain

Source: Bloomberg Economics

That’s the assessment from the earliest available indicators, which showed China’s recovery is losing pace. The aggregate index combining eight indicators tracked by Bloomberg this month slipped into contraction, compared to accelerated expansion in August.

China has staged an uneven recovery, initially driven by strong industrial output yet with recent data showing signs that consumption has started to catch up. A strong and broad spurt in spending is needed for a more meaningful economic rebound.

New home sales in China’s four biggest cities slowed in the first three weeks of September, reversing August’s pickup. Small-business confidence eased marginally after rising for six straight months, while a gauge of expectations

Jadeveon Clowney’s personal foul penalty costs Titans a pick-six early in second half vs. Vikings

September 27, 2020

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Johnathan Joseph put the Titans right back into Sunday’s game at the Minnesota Vikings.

a football player holding a bat on a baseball field: Jadeveon Clowney (99) of the Tennessee Titans warms up before the game against the Minnesota Vikings at U.S. Bank Stadium on September 27, 2020 in Minneapolis, Minnesota.

© Stephen Maturen, Getty Images
Jadeveon Clowney (99) of the Tennessee Titans warms up before the game against the Minnesota Vikings at U.S. Bank Stadium on September 27, 2020 in Minneapolis, Minnesota.

Jadeveon Clowney took them right back out of it.

On the first drive of the second half and with Minnesota leading 17-9, Vikings quarterback Kirk Cousins badly missed his target and found Joseph, who had a wide open path to a pick-six. But as he sprinted to the end zone, Clowney nailed Vikings receiver Justin Jefferson with a blindside block, which is a personal foul penalty. The penalty negated the return, and took the points off of the scoreboard.

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Instead of a chance to tie with a two-point conversion,