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Parched UAE turns to science to squeeze more rainfall from clouds
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Schlumberger, Subsea 7 and Aker Solutions to form subsea engineering firm
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PIMCO cut big position in Russia CDS by adding bonds in Q2
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Toyota’s July global vehicle output drops again, puts annual target in doubt
Rate fever propels dollar, wallops stocks and bonds
Date: August 30, 2022
By Dhara Ranasinghe and Koh Gui Qing NEW YORK/LONDON (Reuters) – World stocks slumped on Monday as the growing risk of more aggressive U.S. and European interest rate hikes inflicted more pain on bond markets and pushed the dollar to new 20-year highs, as recession fears mount. Two-year U.S. yields surged to a high of...
EEX markets to remain open as power prices soar – statement
Date: August 30, 2022
FRANKFURT (Reuters) – The European Energy Exchange said on Monday the bourse would remain open in its transparent price-setting role following significant power price volatility since the end of last week. Concerns that Russia will further curb gas flows to Europe, technical and weather-related issues at French nuclear plants, as well as drought hitting coal...
Ukraine and Russia: What you need to know right now
Date: August 29, 2022
(Reuters) – Ukraine announced the start of a long-awaited counter-offensive to retake territory in the south seized by Russian forces since their invasion six months ago, a move reflecting Kyiv’s growing confidence as Western military aid flows in. NUCLEAR PLANT * A team from the U.N. nuclear watchdog (IAEA) is heading to Ukraine’s Zaporizhzhia nuclear...
Traders ramp up bets on 75 basis-point ECB Sept hike, bond yields jump
Date: August 29, 2022
By Yoruk Bahceli (Reuters) -Euro zone money markets moved on Monday to price in a two-thirds chance of a large 75 basis-point European Central Bank rate hike in September after policymakers made the case over the weekend for a large move to tame inflation four times above their target. Particularly in focus was ECB board...
Oil rises on prospect of OPEC+ supply cut
Date: August 29, 2022
By Alex Lawler LONDON (Reuters) -Oil rose more than 1% on Monday, extending last week’s gain, as potential OPEC+ output cuts and conflict in Libya helped to offset a strong U.S. dollar and a dire outlook for U.S. growth. Saudi Arabia, top producer in the Organization of the Petroleum Exporting Countries (OPEC), last week raised...
Floods, other water-related disasters could cost global economy $5.6 trillion by 2050 -report
Date: August 29, 2022
By Gloria Dickie LONDON (Reuters) – Worsening droughts, storms and torrential rain in some of the world’s largest economies could cause $5.6 trillion in losses to the global economy by 2050, according to a report released on Monday. This year heavy rains have triggered floods that inundated cities in China and South Korea and disrupted...