Germany
Total shutdown of Russian gas pipelines to Europe ‘is not inconceivable’
Russian President Vladimir Putin makes a toast as he takes part in the XIV BRICS summit in virtual format via a video call, in Moscow on June 23, 2022. Mikhail Metzel | AFP | Getty Images The Group of 7 nations need to brace for a complete shutdown of Russian gas pipelines in the near term, […]
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European stocks close slightly higher; Prosus up nearly 16% on Tencent share sale plan
LONDON — European stocks closed slightly higher on Monday, as a positive trend seen at the end of last week’s trading lost some momentum. The pan-European Stoxx 600 index provisionally ended 0.6% higher, having traded up more than 1% earlier in the session. Mining stocks rose over 2% to lead the gains. In terms of […]
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The race to make green hydrogen competitive is on. And Europe is building industrial-scale electrolyzers to help
One type of hydrogen production uses electrolysis, with an electric current splitting water into oxygen and hydrogen. If the electricity used in this process comes from a renewable source then some call it “green” hydrogen. Alex Kraus | Bloomberg | Getty Images Siemens Energy and Air Liquide have announced plans to set up a joint […]
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Germany triggers ‘alert level’ of emergency gas plan, sees high risk of long-term supply shortages
Habeck has previously warned the situation is going to be “really tight in winter” without precautionary measures to prevent a gas supply shortage. Picture Alliance | Picture Alliance | Getty Images Germany has declared it is moving to the so-called “alert level” of its emergency gas plan, as reduced Russian flows exacerbate fears of a […]
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Russia is squeezing Europe’s gas supplies, sparking a bitter and reluctant return to coal
German Economy Minister Robert Habeck has warned that the situation is going to be “really tight in winter” without precautionary measures to prevent a supply shortage. Ina Fassbender | Afp | Getty Images Reduced flows of Russian gas and the specter of a full supply disruption have prompted some European governments to reconsider coal, one […]
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‘The situation is serious’: Germany plans to fire up coal plants as Russia throttles gas supplies
Germany plans to compensate for a cut in Russian gas supplies by increasing the burning of coal — the most carbon-intensive fossil fuel in terms of emissions. Bloomberg | Bloomberg | Getty Images Germany has said the deteriorating gas market situation means Europe’s largest economy must limit the use of natural gas for electricity production […]
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European markets set for lower open as investors reflect on economic uncertainty
LONDON — European stocks are expected to open lower on Monday after a tumultuous trading week last week. The U.K.’s FTSE index is seen opening 15 points lower at 6,980, Germany’s DAX 28 points lower at 13,089, France’s CAC 40 down 37 points at 5,850, and Italy’s FTSE MIB down 73 points at 21,528, according to […]
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‘Our product, our rules’: Russia sends alarm bells ringing over Europe’s winter gas supplies
Gazprom’s Miller says he sees no solution to an ongoing equipment issue at part of the Nord Stream 1 pipeline. Anadolu Agency | Anadolu Agency | Getty Images LONDON — An ominous warning from Russia’s state-backed energy giant Gazprom has stoked fears of another turbulent winter for European gas supplies. As a pre-summer heatwave hits […]
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‘No need for any concern’: Germany plays down fears of economic fragmentation in Europe after bond yields soar
German Minister of Finance Christian Lindner said there is no need for concern about the stability of the euro zone. John Thys | Afp | Getty Images LUXEMBOURG — There is no need for markets to be worried about the stability of the euro zone, Germany’s finance minister told CNBC Thursday following a recent surge […]
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European markets close higher as mining stocks lead gains; Just Eat Takeaway shares up 12%
LONDON — European stocks advanced on Monday as international markets gear up for key U.S. data releases, including the latest inflation reading. The pan-European Stoxx 600 provisionally ended up 1%, with mining stocks climbing 2.7% to lead gains as most sectors and major bourses closed in positive territory. Just Eat Takeaway shares jumped around 12% […]
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