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Merkel’s party suffers historic defeats as Germans react to handling of COVID crisis

Merkel’s party suffers historic defeats as Germans react to handling of COVID crisis

World
German Chancellor Angela Merkel's party has suffered historic defeats in regional elections as voters reacted to her handling of the COVID-19 crisis.The Christian Democratic Union (CDU) lost out to the Greens in the southwest automotive hub of Baden-Wuerttemberg and to the left-leaning Social Democrats (SPD) in neighbouring Rhineland-Palatinate. Mrs Merkel has been in power since 2005 and will not be standing again at the federal elections in September following four consecutive national election victories. Image: Christian Baldauf, the top CDU candidate in Rhineland-Palatinate, reacted as results came in The record defeats in the regional elections, only held in the two wealthy southern states and seen as a bellwether for September, ...

UK suffers worst annual slump since 1709

Finance
A man wearing a mask as a preventive measure against the spread of Covid-19 walks in London.May James | SOPA Images | LightRocket via Getty ImagesLONDON — The U.K. economy contracted by 9.9% in 2020, its largest annual contraction since records began, as the coronavirus pandemic ravaged economic activity.In the final quarter of the year, gross domestic product (GDP) grew by 1%, according to the Office for National Statistics, as the country re-imposed nationwide lockdown measures in a bid to combat a resurgence of Covid-19 cases.The 9.9% annual contraction is more than twice that seen in 2009 in the aftermath of the global financial crisis.Economists polled by Refinitiv had expected an 8% annual decline, in 2020 with a fourth-quarter expansion of 0.5%. This follows a revised 16.1% rebound ...
Chancellor’s priority revealed as economy suffers deepest annual slump since 1709

Chancellor’s priority revealed as economy suffers deepest annual slump since 1709

Business
The chancellor says his priority remains protecting jobs as official figures showed the coronavirus crisis had dealt the worst blow to the economy since the Great Frost of 1709.The Office for National Statistics (ONS) said early estimates, subject to revision, suggested that gross domestic product (GDP) tumbled by 9.9% in 2020. Live COVID updates from the UK and around the world Image: Scores of businesses including restaurants and pubs endured a miserable 2020 It was a consequence of large parts of the economy being placed in hibernation through unprecedented lockdowns and other restrictions on normal activity as efforts to contain COVID-19 took their toll on output.The figures showed a fightback from the record quarterly slump betw...
Watch: Orlando Magic guard Markelle Fultz suffers season-ending knee injury

Watch: Orlando Magic guard Markelle Fultz suffers season-ending knee injury

Sports
Jan. 6 (UPI) -- Orlando Magic guard Markelle Fultz will miss the remainder of the 2020-21 NBA season after suffering a torn left ACL during Wednesday's game against the Cleveland Cavaliers. Less than five minutes into the contest, Fultz drove to the paint and tumbled to the court after his left knee buckled without any contact from Cavaliers rookie Isaac Okoro. The No. 1 overall pick in the 2017 draft writhed in pain on the floor for several minutes before trainers helped him into a wheelchair. Advertisement Shortly after the injury, the Magic ruled Fultz out for the rest of the game. The 22-year-old guard then underwent an MRI, which revealed the significant damage to his knee. "He underwent an MRI and results revealed that Fultz has sustained a torn anterior cruciate ligament," the Magi...
FTSE 100 suffers worst year since 2008 – but Wall Street rebounds

FTSE 100 suffers worst year since 2008 – but Wall Street rebounds

Business
The FTSE 100 has clocked up its worst year since the 2008 financial crisis - underperforming against global rivals that have bounced back following a coronavirus sell-off earlier in the year.London's leading share index closed at 6460.5 in a shortened closing session on New Year's Eve, 14.3% down over the course of 2020. It marked something of a recovery after the FTSE's calamitous sell-off during the spring saw it fall below the 5,000-mark but the annual decline was still the biggest slump since a 31% plunge 12 years ago. Image: Markets across the globe plunged earlier this year At the same time New York's S&P 500 has been trading at or around all-time highs this week while Germany's Dax, up 3.5% for the year, was just shy of rec...