AFP
20201 articles published since 08 Mar 2022
20201 articles published since 08 Mar 2022
A year after Russia's invasion of Ukraine, the oil market has become more fragmented and uncertain, a dynamic expected to boost crude prices over the long term. The oil market "is radically different in some ways than it was before the invasion of Ukraine," said Jim Burkhard, head of research for oil markets, energy and mobility at S&P Global Commodity Insights.
Pointing to key Biden administration policies to mitigate climate change, Energy Secretary Jennifer Granholm promised Wednesday that the United States would lead global energy transition. "The United States will be the global leader of this transition," she added.
A European court on Wednesday cancelled EU sanctions imposed on the mother of Russian paramilitary leader Yevgeny Prigozhin, in an embarrassing setback for Brussels' punitive response to Moscow's invasion of Ukraine.
Panama and Canadian giant First Quantum Minerals announced on Wednesday a deal to reopen a major copper mine whose operations had been suspended for three months over a tax dispute. First Quantum, one of the largest copper miners in the world, began commercial copper production at the site in Donoso in 2019, through a company called Minera Panama.
The Bank of Canada on Wednesday became the first major central bank to pause its aggressive monetary policy in recent months, holding its key lending rate at 4.5 percent as inflation eased, after eight consecutive rate increases.
French unions on Wednesday pressed a standoff with the government over a deeply unpopular pensions overhaul, with fuel deliveries, trains and flights disrupted for a second day following mass rallies. - 'Extra pressure' - Eric Sellini, national coordinator of the CGT union federation at energy giant TotalEnergies, said workers at most fuel shipping sites were again on strike on Wednesday morning.
TikTok launched a new effort to assuage European leaders' worries over data security on Wednesday, as Western governments consider further bans on the video-sharing app. Their initiative came as the Czech cyber watchdog issued its own warning, describing the Chinese-owned video-sharing app a security threat.
US employers stepped up their pace of hiring in February, payroll firm ADP said Wednesday, in a further indication that more effort may be needed to cool the world's biggest economy. Fed Chair Jerome Powell warned on Tuesday that policymakers are prepared to step up rate hikes -- and lift rates higher than previously anticipated -- if needed to cool inflation and the robust jobs market.
European Central Bank president Christine Lagarde said Wednesday she will do whatever it takes to bring down high inflation and restore price stability. "We will restore that price stability and we will do whatever it takes," she said.
AFP
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