Italy
Italy just declared a state of emergency because of drought: ‘There is no doubt that climate change is having an effect,’ the prime minister said
This picture taken on July 2, 2022 in Rome shows the low water level of the river Tiber near the Vittorio Emanuele II bridge, revealing an ancient bridge built under Roman Emperor Nero (Bottom). Andreas Solaro | AFP | Getty Images The Italian government declared a state of emergency on Monday in five regions because […]
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Russia is set to switch off the gas for work on a key pipeline — and Germany fears the worst
Russia says it stands ready to supply gas to Europe, describing ongoing disruption concerns as a “man-made crisis” created by Europe. Bloomberg | Bloomberg | Getty Images Russia is poised to temporarily shut down the Nord Stream 1 pipeline — the European Union’s biggest piece of gas import infrastructure — for annual maintenance. The works […]
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The G-7 is considering a price cap on Russian oil. But energy analysts think it’s impossible
The G7 has floated the idea of an oil price cap, but experts are doubtful about how effective this would be. Picture Alliance | Picture Alliance | Getty Images The world’s seven-largest industrialized economies have floated the idea of a price cap on Russian oil to further squeeze the Kremlin’s ability to fund its onslaught […]
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Europe’s plans to replace Russian gas are deemed ‘wildly optimistic’ — and could hammer its economy
A drilling rig at a gas processing facility, operated by Gazprom. Maxim Shemetov | Reuters The European Union’s best shot at replacing Russian gas imports this year is likely to miss the mark, analysts predict, exerting further pressure on the region’s economy. The EU plans to replace two-thirds of Russian gas imports by the end […]
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Electrode maker De Nora ‘not scared’ about volatility as it braves IPO
De Nora was founded in 1923 and specializes in electrode and water treatment technologies. Pavlo Gonchar | Lightrocket | Getty Images The CEO of electrode maker Industrie De Nora says it is “not scared” about the current market turbulence as it braves an IPO this week. The initial public offering was priced at 13.50 euros […]
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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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Putin is squeezing gas supplies. And Europe is getting seriously worried about a total shutdown
BRUSSELS — European leaders are growing increasingly concerned about the possibility of a full shutdown of gas supplies from Russia, with Italy asking for a new meeting to debate the matter. Gazprom, Russia’s state-backed energy supplier, has reduced its gas flows to Europe by about 60% over the past few weeks, prompting Germany, Italy, Austria […]
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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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Europe’s fear gauge just hit its highest level since May 2020
Italian borrowing costs are surging at a time when consumers are turning more worried about the cost of living crisis. Stefano Guidi | Getty Images News | Getty Images A measure known as Europe’s fear gauge has hit its highest level since the coronavirus outbreak, in what could spell out further economic pain for Italy […]
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From EV batteries to coffee: Ideas about recycling and nature are changing how firms do business
A hot cup of coffee is the perfect start to the day for millions of people around the world. But when taking that first sip, it’s easy to forget how much work goes into bringing it to the table. From the farmers cultivating and harvesting coffee plants, to milling and roasting, many crucial and labor-intensive […]
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