U.S. Sen. Bob Menendez (D-N.J.), chair of the Senate Foreign Relations Committee, on Monday called for the United States to “immediately freeze” all cooperation with Saudi Arabia after Russia’s air strikes in Ukraine. Menendez cited the kingdom’s decision with the Organization of the Petroleum Exporting Countries, or OPEC+, cartel to cut oil output by 2 million…
Senate Foreign Relations Committee Chair Calls to ‘Freeze’ US-Saudi Cooperation
Net-Zero to Force Electricity Prices to Spike 35 Percent, Aussie Energy Boss Warns
October 10, 2022
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The head of one of Australia’s largest energy company’s has warned electricity prices in the country could spike by more than 35 percent amid the push for net-zero. “When we run our modelling for energy pricing next year, using the current market prices, tariffs are going up a minimum 35 per cent,” said Jeff Dimery,…
Net Zero to Force Electricity Prices Up 35 Percent, Aussie Energy Boss Warns
October 10, 2022
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Alinta EnergyAustraliaBusiness & MarketsCompaniesenergyEnergyAustraliaEuropeInternationalnet zeroRussia-Ukraine WarWorld
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The head of one of Australia’s largest energy company’s has warned electricity prices in the country could spike by more than 35 percent amid the push for net-zero. “When we run our modelling for energy pricing next year, using the current market prices, tariffs are going up a minimum 35 percent,” said Jeff Dimery, CEO…
One in Six Chance of Worldwide Nuclear War: Physicist’s Post Goes Viral
October 10, 2022
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With the Russia-Ukraine war still raging, physicist and cosmologist Max Tegmark has estimated the odds of global nuclear war in the near future at one in six, in an article and a social media post that went viral. The Swedish-American MIT professor made the prediction in an Oct. 8 post on LessWrong, a rationalist community…
Major US Airport Websites Taken Offline
The websites of the Atlanta, Chicago, Los Angeles, and other airports were taken offline on Monday as officials blamed Russian hackers for the disruption. “We noticed this morning that the external website was down, and our IT and security people are in the process of investigating,” Andrew Gobeil, a spokesman for Atlanta’s Hartsfield-Jackson International Airport,…
Russia Hammers Ukraine With Air Strikes After Bridge Explosion
Russia rained cruise missiles down on Ukrainian cities Monday following the destruction of a bridge spanning Ukraine and Crimea over the weekend. Russian President Vladimir Putin on Monday accused Ukraine’s security services of perpetuating the attack on the bridge and said it would be met with a significant military response. “If there are further attempts…
Gazprombank to Discontinue Swiss Operations
October 10, 2022
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ZURICH—Russia’s Gazprombank has decided to cease operating in Switzerland after “a strategic review of various options,” it said on Monday. The bank had been one of the last remaining channels for financing trade flows between Russia and Switzerland because other major Russian banks are subject to sanctions over Russia’s invasion of Ukraine. The Zurich-based bank,…
Eurozone Investor Morale Drops for 3rd Month: Sentix
October 10, 2022
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BERLIN—Investor morale in the eurozone slid for the third consecutive month in October to its lowest level since May 2020 signaling a deep recession for the 19-country currency bloc, a survey showed Monday. Sentix’s index for the eurozone tumbled to—38.3 points in October from—31.8 in September, below expectations of analysts polled by Reuters for a…
German Companies Look at Offshore Production as Energy Prices Rocket
October 10, 2022
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Business & MarketsCompaniescrisiseconomic policieseconomyenergyEuropeGermanyinflationMarketsoffshoreproductionrecessionRussia-Ukraine WarUkraineWorld
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BERLIN—Germany’s 200 billion euro ($197 billion) energy aid package will provide limited relief for businesses and is unlikely to dissuade companies that are already looking to relocate to cheaper manufacturing bases overseas. The German government set out its energy relief package last month, including a gas price brake and a cut in sales tax for…
Kyiv, Other Ukraine Cities Hit as Putin Orders Revenge for Crimea Bridge
KYIV—Russia fired cruise missiles at cities across Ukraine during rush hour on Monday morning, knocking out power and heat, in what President Vladimir Putin declared to be revenge for Ukrainian attacks including on a bridge to Crimea. The missiles tore into busy intersections, parks and tourist sites in the centre of downtown Kyiv with an…
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