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The easiest way to get a $7,500 tax credit for an electric vehicle? Consider leasing.

Published Mon, 25 Nov 2024 05:55:37 GMT

DETROIT (AP) — Thanks to a boost from the government, leasing — not buying — is becoming the most affordable way to get your hands on an electric vehicle.Last year’s Inflation Reduction Act provided a federal tax credit of up to $7,500 to use toward an EV. Under the rules, a dealer can apply that credit to any leased electric vehicle, no matter where it’s made, to reduce a customer’s monthly payment.Not so for people who buy an EV.For buyers, only EVs made in North America qualify for the full tax credit. And only 10 of the 49 electric vehicles for sale in the United States this year meet that requirement. Even then, the EV must contain certain percentages of battery parts from the United States or countries with which it has a trade deal for the buyer to receive a full $7,500 credit.Why the distinction between leased and purchases vehicles?The Treasury Department says that in establishing the tax credit, Congress classified leased — but not purchased — EVs as “commercia...

Consumer confidence declines again in May, 4th time in 5 months, particularly for older Americans

Published Mon, 25 Nov 2024 05:55:37 GMT

Consumer confidence fell in May as Americans, particularly older ones, became more pessimistic about the labor market, on top of elevated anxiety over inflation. The Conference Board reported Tuesday that its consumer confidence index fell to 102.3 in May from 103.7 in April. It’s the fourth time in five months that overall U.S. consumer confidence has declined.The business research group’s present situation index — which measures consumers’ assessment of current business and labor market conditions — fell to 148.6 from 151.8 last month.The board’s expectations index — a measure of consumers’ six-month outlook for income, business and labor conditions — inched down to 71.5 this month from 71.7 in April. A reading under 80 often signals a recession in the coming year. The Conference Board noted that reading has come in below 80 every month but one since February of 2022.“While consumer confidence has fallen across all age and income categories over the past three months, May’s declin...

Number of new German citizens hits 20-year high as many Syrians naturalized

Published Mon, 25 Nov 2024 05:55:37 GMT

BERLIN (AP) — Germany saw a 28% increase in the number of people gaining its citizenship last year, with people from Syria accounting for more than a quarter of those who were naturalized, official data showed Tuesday.Preliminary figures show that about 168,500 people were granted German citizenship in 2022, the Federal Statistical Office said. That was the highest number since 2002.Of those, 48,300 — or 29% — were Syrian citizens. That was more than double the previous year’s figure and seven times as high as in 2020, as increasing numbers of people who migrated to Germany between 2014 and 2016 fulfill the requirements for citizenship.Those include a working knowledge of German and proof that they can support themselves financially. In principle, there is a requirement for people to have lived in Germany for at least eight years, though that doesn’t apply to spouses and children. It can be reduced to six years for people who show “special integration accomplishments” su...

Freeland says Liberal government respects Alberta electing Danielle Smith as premier

Published Mon, 25 Nov 2024 05:55:37 GMT

OTTAWA — Deputy Prime Minister Chrystia Freeland says the Liberal government respects the choice the people of Alberta have made at the ballot box.She made the comment on her way into the federal Liberals’ weekly cabinet meeting, hours after UCP Leader Danielle Smith was declared victorious over the NDP’s Rachel Notley in Monday’s provincial vote.Smith replaced former Conservative cabinet minister Jason Kenney as premier and party leader last fall amid widespread backlash to his introduction of COVID-19 health restrictions. She frequently takes aim at Prime Minister Justin Trudeau for his energy policies, which she argues hurt Alberta’s economy.Trudeau released a statement after her victory congratulating Smith, saying he wants to work together to “deliver results for Albertans” when it comes to creating jobs and advancing clean energy. Conservative Leader Pierre Poilievre, who endorsed Smith in the final stretch of the campaign, said on Twitter t...

Ruling clears way for Purdue Pharma to settle opioid claims, protect Sacklers from lawsuits

Published Mon, 25 Nov 2024 05:55:37 GMT

A federal court ruling cleared the way Tuesday for OxyContin maker Purdue Pharma’s settlement of thousands of legal claims over the toll of opioids.The 2nd U.S. Circuit Court of Appeals in New York reversed a 2021 ruling that found bankruptcy court judges did not have the authority to shield from civil lawsuits members of the Sackler family who own Purdue and who have not filed for bankruptcy protection themselves.Those protections are at the heart of the proposed deal that would end claims against Purdue filed by thousands of state, local and Native American tribal governments and other entities.Under the plan, members of the Sackler family would give up ownership of Stamford, Connecticut-based Purdue, which would become a new company known as Knoa, with its profits being used to fight the opioid crisis. They would also contribute $5.5 billion to $6 billion in cash over time. A chunk of that money — at least $750 million — is to go to individual victims of the opioid crisis a...

Italy announces arrest of minor belonging to international network of young ISIS supporters

Published Mon, 25 Nov 2024 05:55:37 GMT

MILAN (AP) — Italian authorities have arrested a minor suspected of being a supporter of the ISIS terror network who was allegedly planning an explosive attack in the area where he lived, police said Tuesday.The minor, identified as an Italian citizen of foreign origin, was arrested in the province of Bergamo on suspicion of association with the aim of terrorism, terrorist training, extolling the virtues of terrorism and instigation to commit a crime.Italian authorities said others in the network of young ISIS supporters were arrested last week in Europe and the United States, but did not provide further details.Investigators said that the suspect, who had been under surveillance by Italian intelligence, had quickly become radicalized, publishing terrorist propaganda online, and initiating plans for an explosive attack.The arrest, approved by a court for minors in Brescia, was carried out last Friday. The suspect had in his possession videos of executions, weapons manuals and instru...

2 Italian agents, 1 ex-Israeli agent among 4 dead in boat that capsized in storm on Italian lake

Published Mon, 25 Nov 2024 05:55:37 GMT

MILAN (AP) — Two Italian intelligence agents and one retired Israeli agent were among the four dead when a sudden storm sank a houseboat hired for a pleasure cruise this weekend on a northern Italian lake, authorities said Tuesday.The Israeli Foreign Ministry on Tuesday confirmed the death of one Israeli citizen, saying he was a retiree from the Israeli security forces. It didn’t provide a name or age or give details on what he had done professionally. A government official overseeing Italy’s secret services, Alfredo Mantovano, has expressed condolences for the deaths of two agents, a man and a woman, who were on board. The fourth victim was identified as a Russian woman who was part of the two-person crew. Police on Tuesday said they had no further information of the identities or professions of the 19 other people on board when the boat capsized off shore near the town of Lisanza, on the southern end of the lake that extends north into Switzerland. Some survivors manag...

South Carolina gas station owner charged with murder in 14-year-old’s shooting death

Published Mon, 25 Nov 2024 05:55:37 GMT

COLUMBIA, S.C. (AP) — A South Carolina gas station owner was charged Monday with murder in the death of a 14-year-old boy whom he allegedly chased from the store and shot in the back, the sheriff said.Richland County Sheriff Leon Lott said at a news conference that station owner Rick Chow incorrectly suspected Cyrus Carmack-Belton had shoplifted bottles of water from the Xpress Mart Shell station in Columbia. After a verbal confrontation, the sheriff said Carmack-Belton fled and was pursued by Chow’s son.Chow joined the chase, armed with a pistol, Lott said. As they ran by nearby apartments, Carmack-Belton fell and got back up and Chow fired, striking Carmack-Belton in the back. Chow’s son said the teen had a gun, and investigators did find a gun close to Carmack-Belton’s body, Lott said.“Even if he had shoplifted four bottles of water, which he had taken out of the cooler and then put back — even if he had done that, that’s not something you should shoot anybody over, much less a 1...

Malaysia finds 100 artillery shells on Chinese barge, says it likely plundered WWII shipwrecks

Published Mon, 25 Nov 2024 05:55:37 GMT

KUALA LUMPUR, Malaysia (AP) — Malaysia’s maritime agency said Tuesday a detained Chinese barge likely plundered two World War II British shipwrecks in the South China Sea after discovering 100 old artillery shells on it.Malaysian media reported that illegal salvage operators are believed to have targeted the HMS Repulse and the HMS Prince of Wales, which were sunk in 1941 by Japanese torpedoes days after the attack on Pearl Harbor. A total of 842 sailors perished, and the shipwrecks off the coast of Malaysia’s central Pahang state are designated war graves. Fishermen and divers alerted authorities after spotting a foreign vessel near the area last month.The maritime agency detained the barge, registered in Fuzhou, China, on Sunday for anchoring without a permit off southern Johor state. Upon investigation, the agency found piles of scrap metal and an artillery shell believed to be from World War II on the vessel.The agency said a thorough search Tuesday found 100 more ar...

Halifax wildfire: Officials worry high winds will cause ‘reburn’ in subdivisions

Published Mon, 25 Nov 2024 05:55:37 GMT

HALIFAX — Fire officials in Nova Scotia say the uncontained wildfire in suburban Halifax has remained stable, but they warn the return of dry, windy conditions Tuesday could lead to a “reburn” in evacuated subdivisions. “We are expecting a bit of a weather shift,” David Steeves, a forest resources technician with Nova Scotia’s Department of Natural Resources, told a news conference at a command post in Upper Tantallon, N.S.“We are expecting a significant level of fire behaviour …. It’s going to be an increasingly dangerous situation for the firefighters who are on the ground.”Halifax deputy fire Chief David Meldrum said firefighters spent the night extinguishing hot spots in neighbourhoods where 200 homes and structures have been damaged since the fire started Sunday. It remains unclear how many homes have been destroyed because surveys have yet to be completed.In all, about 16,000 people have been ordered to leave their homes, most of...