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EU chief says pressure off for lower Russia oil price cap
EU chief says pressure off for lower Russia oil price cap
by  AFP

EU Commission Chief Ursula von der Leyen on Tuesday said surging energy prices have reduced the urgency to slash the price cap on Russia's global oil exports. The current $60 cap "had little effect, but in the last days, we have seen that the oil price has risen [and] the cap in place does serve its function," von der Leyen told reporters on the sidelines of the G7 meeting.

Trump says EU not offering 'fair deal' on trade
Trump says EU not offering 'fair deal' on trade
by  AFP

US President Donald Trump said Tuesday that the European Union had yet to offer a "fair deal" on trade, as Washington negotiates tariff agreements with friends and foes alike. Trump imposed a blanket 10 percent tariff on most US trading partners and unveiled higher individual rates on dozens of economies, including India and the European Union -- although he swiftly paused the elevated rates.

Swiss insurers estimate glacier damage at $393 mn
Swiss insurers estimate glacier damage at $393 mn
by  AFP

Swiss insurers on Tuesday put the damage caused by last month's glacier collapse, which largely destroyed the Alpine village of Blatten, at 320 million Swiss francs ($393 million). To "repair the damage caused to buildings and personal property," nearly 260 million Swiss francs will be paid out to the local population, according to the association.

Spain says 'overvoltage' caused huge April blackout
Spain says 'overvoltage' caused huge April blackout
by  AFP

A major power outage that paralysed the Iberian Peninsula in April was caused by "overvoltage" on the grid that triggered "a chain reaction", according to a government report released Tuesday.

UK startup looks to cut shipping's carbon emissions
UK startup looks to cut shipping's carbon emissions
by  AFP

In a small London workshop, a prototype mimics the process of capturing carbon emissions from a cargo ship's engine. Once absorbed, the carbon was transformed into limestone through a chemical process.