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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By Jessica Weisman-Pitts

    Posted on July 18, 2022

    Featured image for article about Top Stories

    MADRID/LISBON (Reuters) – A heatwave sweeping southern Europe that has caused hundreds of deaths and huge wildfires in past weeks showed some signs of abating on Monday but continued to move north, including towards Britain where authorities issued an extreme weather warning.

    Much of Europe is baking in a heatwave that scientists say is consistent with climate change and has pushed temperatures into the mid-40s Celsius (over 110 Fahrenheit) in some regions, with wildfires raging across tinder-dry countryside in Portugal, Spain and France.

    Temperatures in some parts of southern Europe began to ease over the weekend but thousands of firefighters across the region still battled to contain hundreds of wildfires and authorities said the risk of further blazes remained extremely high.

    Spain was facing the eighth and last day of a more than week-long heatwave on Monday, which caused more than 510 heat-related deaths, according to estimates from the Carlos III Health Institute.

    With fires burning thousands of hectares in Galicia, Castille and Leon, Catalonia, Extremadura and Andalusia, Spain mourned the death of one firefighter in the northwestern province of Zamora on Sunday evening. Almost the entire country faces a extreme fire risk.

    “There are never words to thank the immense work of those who fight the fires tirelessly,” Prime Minister Pedro Sanchez said on Sunday night in a condolence message on Twitter.

    More than 70,000 hectares (173,000 acres) have burnt in Spain so far this year, the worst year of the last decade, according to official data. Last month, a huge wildfire in Sierra de la Culebra, Castille and Leon, ravaged about 30,000 hectares of land.

    Spain also reported a second death caused by a wildfire after a fireman died on Sunday. A 69-year-old was found dead on Monday in Ferreruela, in an area burned by flames, emergency authorities said. Local media said it was a farmer.

    In Portugal, temperatures dropped over the weekend, but the risk of wildfires remained very high across most of the country, according to the Portuguese Institute of Meteorology (IPMA).

    More than 1,000 firefighters, backed by 285 vehicles and 14 aircraft, were battling nine ongoing wildfires, mainly in the country’s northern regions, authorities said.

    NATIONAL EMERGENCIES

    Belgium and Germany were among the countries expecting the heatwave to hit them in coming days.

    Britain was on course for its hottest day on record on Monday with temperatures forecast to hit 40 Celsius (Fahrenheit) for the first time, forcing train companies to cancel services, schools to close early and ministers to urge the public to stay at home.

    The government has triggered a “national emergency” alert as temperatures were forecast to surpass the 38.7C (102F) recorded in the Cambridge University Botanic Garden in 2019 on Monday and Tuesday.

    “We hoped we wouldn’t get to this situation but for the first time ever we are forecasting greater than 40C in the UK,” climate attribution scientist at the Met Office, Dr Nikos Christidis, said.

    “Climate change has already influenced the likelihood of temperature extremes in the UK. The chances of seeing 40C days in the UK could be as much as 10 times more likely in the current climate than under a natural climate unaffected by human influence,” he said.

    In France, wildfires had spread over 11,000 hectares(27,000 acres) in the southwestern region of Gironde, and morethan 14,000 people have been evacuated, regional authoritiessaid on Sunday afternoon.

    More than 1,200 firefighters were trying to control theblazes, the authorities said in a statement.

    France issued red alerts, the highest possible, for severalregions, with residents urged “to be extremely vigilant”.

    In Italy, where smaller fires have blazed in recent days,forecasters expect temperatures above 40C in several regions incoming days.

    Switzerland also suffered the effects of the heatwave. Axpo, the operator of the Beznau nuclear plant, said it on Monday it was forced to reduce output so that it does not overheat the Aare river from which it draws its cooling water.

    (Reporting by Reuters bureaus; Editing by Raissa Kasolowsky and Alex Richardson)

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