European Union (EU) leaders recently agreed on a ninth package of sanctions against Moscow, but the group is facing conflicting opinions about the extent it should go with these sanctions. The latest package imposes export controls and restrictions on certain technological goods that can boost Russia’s defense sector as well as technologies like aircraft engines…
European Unity Breaking as Bloc Announces Ninth Sanctions Package Against Russia
December 19, 2022
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German Firms Now More Pessimistic Than At Peak of COVID-19
November 2, 2022
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Business & MarketsBusiness Confidencebusiness optimismeconomic policieseconomyenergyEU energy crisisEuropeGerman energy crisisinflationrecessionWorld
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Businesses in Germany are becoming less confident about their economic future, according to a survey conducted by the Association of German Chambers of Industry and Commerce (DIHK). Among the over 24,000 companies that took part in the survey, 52 percent are expecting their business to deteriorate over the next 12 months, with only 8 percent…
‘A Mild Winter Alone Can’t Save’ Europe, Energy Crisis Accelerates Region’s Deindustrialization
November 2, 2022
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Business & MarketsDe-Industrializationeconomyenergyenergy costsEU energy crisisEuropeeurope energy crisisEurope energy pricesrecessionWorld
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Europe’s energy crisis is now threatening to ramp up deindustrialization on the continent as many firms face persistent struggles with high energy costs. Russia’s war against Ukraine and Moscow’s subsequent decision to cut energy supply to Europe has compromised the region’s energy security situation, pushing up fuel costs for commercial entities. Companies in Europe are…
European Gas Declines After Price Cap Proposal
October 21, 2022
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Natural gas prices in Europe fell after the region’s leaders agreed on measures to contain the energy crisis, including a proposal to set price caps. European Union (EU) leaders called on the European Council and the European Commission to “urgently” submit decisions regarding “a temporary dynamic price corridor on natural gas transactions to immediately limit…
French Gasoline Stations Running Dry, 10 Percent in Paris Area Face Supply Problems
October 7, 2022
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Business & MarketseconomyenergyEU energy crisisEuropeFuel shortagesgasoline pricesMarketsstrikes in franceTotalEnergiesWorld
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Gasoline stations in France are facing issues getting enough supplies to meet demand amid a strike announced by workers of energy giant TotalEnergies. “There are temporary problems regarding distribution,” French government spokesman Olivier Veran told RMC Radio and BFMTV. Although 15 percent of the country’s gas stations were experiencing such “temporary difficulties” overall, 90 percent…
‘That Would Be the Road to Hell for America’: Bank CEOs Push Back Against Radical Climate Demands From Rep. Tlaib
September 22, 2022
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Brian MoynihanBusiness & Marketsclimate changeeconomic policiesenergyEU energy crisisfossil fuelsJamie DimonPoliticsRep. Rashida TlaibUSUS News
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Rep. Rashida Tlaib (D-Mich.) met with resistance when she asked the CEOs of America’s seven biggest banks, during their testimony before Congress on Sept. 21, about the elimination of funding for fossil fuel investments. “You have all committed, as you all know, to transition the emissions from lending and investment activities to align with pathways…
Shortage of Cargo Ships Affecting Energy Prices
The energy crisis in Europe and the resultant higher demand for cargo ships to transport fuels is creating upward pressure on fuel costs. Following Russia’s invasion of Ukraine, the European Union (EU) imposed sanctions on the Kremlin. In response, Russia began curtailing gas supplies to the region, creating a scramble for energy on the continent….
Skyrocketing Energy Bills Deal Death Blows to Europe’s Factories
September 20, 2022
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Europe’s factories have begun succumbing to dangerously escalating energy bills following retaliatory Russian cutbacks, resulting in an inflation rate of more than 9 percent and a dip in industrial production, which is expected to worsen in coming days. Industrial production for July 2022 decreased by 2.3 percent in the eurozone—i.e., the 19 countries that use…
Rail Strike Could Be Devastating: Expert; EU Emission Regulations Add to Energy Pains | NTD Business
Railroad workers warning a massive strike could be coming if they don’t get what they want in a new contract. What could it do to supply chains in the United States? Treasury Secretary Janet Yellen says gas prices could rise again later this year, but they’re working on a plan to address that risk. The…
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