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Germany in line with UK and halting Russian oil by end of year

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Germany will halt imports of Russian oil by the end of this year

Germany’s foreign minister says oil will be halved by the summer and says it will be at zero by the end of the year.

The minister also pointed out that gas will soon follow.

Germany currently buys a quarter of its oil and 40 per cent of its gas from Russia.

The country have warned that it could face a recession if supplies suddenly stopped.

This follows the US already banning Russian oil imports.

Meanwhile the UK is in line with Germany and plans to phase them out by the end of the year.

Germany has already called off the opening of Russian gas pipeline, Nord Stream 2, in response to the war.

German economic institutes warned that immediately halting Russian imports would spark a sharp recession in Europe’s biggest economy by next year.

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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