The Russian state gas group Gazprom will again supply natural gas to Italy via Austria. On Saturday, gas deliveries to Italy via an Austrian pipeline were halted due to changes in Austrian regulations. Gazprom says it has found a solution with Italian customers so that gas can be resupplied. The […]
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Brent Oil Barrel Drops Below $85 for the First Time Since January
The price of Brent oil has fallen below $85 a barrel for the first time since January. Ongoing concerns about slowing global economic growth have been driving prices down for some time now. Brent oil is the benchmark for oil from, for example, the North Sea and the Middle East. […]
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Allianz: Chip Shortage Costs European Car Industry 100 Billion Euros
The shortage of chips will cost the European car industry around 100 billion euros in 2021 and this year, credit insurer Allianz Trade has calculated. The chip shortage has resulted in approximately 18 million fewer vehicles being produced worldwide. According to Allianz, the European automakers were particularly hard hit. The […]
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EU Ministers Meet Again in 2 Weeks to Discuss Energy Price Plans
The EU countries will discuss new plans this month to do something about the sky-high energy bills. On September 30, the energy ministers will consider the proposals they have asked the European Commission for. The ministers “will finish on September 30 what we started last week”, tweets the energy minister […]
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Liz Truss Allocates £130 Billion to Freeze Energy Bills
The upcoming British Prime Minister Liz Truss wants to allocate up to 130 billion pounds in the coming year and a half to protect households from significantly higher energy bills. The Bloomberg news agency documents say she wants to block a previously announced price hike for electricity and gas and […]
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Wall Street Remains Closed for Labor Day
Stock exchanges in New York will remain closed on Monday for Labor Day. Workers’ Day is always celebrated in the United States after the first weekend in September. Trading will resume on Wall Street on Tuesday. US President Joe Biden is taking a holiday to visit unions in Pennsylvania and […]
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Apple Wants to Unveil New iPhones on September 7
Tech company Apple is expected to unveil its new iPhone 14 line on September 7. The maker of the popular smartphones traditionally does this with a special event. Apple is very dependent on iPhones. The devices typically account for half of the company’s revenue. In addition to the iPhones, a […]
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Major Consumer Brands in Supermarkets Benefit from High Inflation
The large sellers of consumer products Danone and Reckitt Benckiser (RB) are counting on better sales this year due to the sharp rise in inflation. Indeed, the overall tenor of price increases makes it possible for companies to increase the prices of their products. Danone, the company behind Activia […]
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Ford has Enough Batteries for 600,000 Electric Cars Per Year
Ford Motor has secured the supply of enough batteries to produce 600,000 electric vehicles per year from next year. The American automaker announced this in a statement on Thursday. The production target for the coming years is a huge step forward, as Ford only sold 27,140 plug-in vehicles in […]
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Pork Price Rises Sharply: Chinese Government Wants to Draw on National Reserves
China is considering drawing on its strategic pork reserves to stabilize prices and curb speculation. The economic planning agency announced this on Tuesday. Pork is on the menu of many Chinese every day. It is the most consumed type of meat there. But prices have risen sharply, by more […]