EUROPE ENERGY CRISIS
Why falling fertility is not a crisis
Demographic transition is causing declining birthrates, raising anxiety among policymakers. With notable fertility rate drops in countries like China, South Korea, and Japan, the response involves innovative policies and tech integration. While aging populations pose challenges, the societal shift toward smaller families should be seen as an opportunity for adaptation and prosperity.
TotalEnergies CEO says pausing Adani business won't impact renewable targets
TotalEnergies can still meet its renewable energy targets without developing any new business with India's Adani Green Energy Limited, the French group's CEO told Reuters, shrugging off the impact of a crisis at its Indian partner.
COP29: Clean power must offer more hope to wean nations off fossil fuels
Rich nations struggle to offer compelling alternatives, highlighting the need for a substantial global investment in clean energy for developing countries.
Trump prepares wide-ranging energy plan to boost gas exports, oil drilling, sources say
Donald Trump's incoming administration is poised to prioritize energy production through expedited approvals for LNG projects, increased offshore and federal land drilling, and repealing climate regulations. This aggressive energy agenda, including reviving the Keystone Pipeline and challenging the International Energy Agency, aims to boost domestic oil and gas output, marking a sharp departure from Biden's policies.
Europe is already facing its next energy crisis
Experts warn of a challenging winter ahead, particularly if temperatures plummet. The situation has raised concerns about energy rationing and economic stability.
As threat of Trump tariffs looms, Europe's leaders seek greater unity
European business leaders are urging the EU to prioritize its economic competitiveness in response to the potential challenges posed by a second Trump presidency. They are calling for increased investment, deregulation, and a unified approach to trade to counter Trump's 'America First' agenda and protect European interests.
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Europe is gaslighting itself about its energy woes
Europe is facing another winter of high energy prices as the luck of favourable weather and low Asian demand for LNG has run out. Despite efforts to diversify, Europe remains reliant on Russian gas, raising questions about its commitment to weaning itself off Russian energy while supporting Ukraine.
Borderless Europe fights brain drain as talent heads north
Portugal is attempting to curb its brain drain by offering significant tax breaks and housing assistance to young workers, hoping to stem the flow of skilled labor to higher-paying European neighbors. The success of these measures remains uncertain, as many young Portuguese professionals remain skeptical about their long-term career prospects in their home country.
UK's Starmer to meet Macron in France to discuss Ukraine support after Trump win
British Prime Minister Keir Starmer is set to meet French President Emmanuel Macron to discuss continued support for Ukraine amidst concerns over potential reduced aid from the United States following Donald Trump's re-election. The leaders will also address the humanitarian crisis in Gaza.
Trumpman returns as 'Musked' crusader
Donald Trump's return to the White House promises to be as disruptive as his first term. With plans for trade overhauls, potential mass deportations, and a disregard for climate change, Trump's policies threaten to upend the global economy and reignite inflation, potentially impacting his own voter base.
Why China's economy is more vulnerable to Trump tariffs this time
Donald Trump's threat of 60% tariffs on Chinese goods presents a significant risk to China's economy, which is currently grappling with a property market crisis, mounting debt, and weak domestic demand. Unlike in 2018, China's economy is less resilient and faces deflationary pressures, limiting its ability to absorb the impact of such tariffs.
A wind power crisis is holding back the world¡¯s green energy goal
While the target remains achievable, current rates of clean power deployment aren¡¯t sufficient and the rollout of wind turbines is lagging, according to the International Renewable Energy Agency.
Don¡¯t expect sharply higher crude prices any time soon: Geoff Dennis
An increase in oil prices to mid-80s or 90s would harm India's economy short-term. However, without major disruptions in the Middle East, prices are expected to stay below $80, which is manageable. Current global economic conditions, with weak Chinese and European economies, suggest stable oil prices beneficial for India's growth.
Indian students walk the course less travelled at foreign campuses
Indian students heading abroad for the fall semester of 2024 are diversifying their academic pursuits, ranging from AI and machine learning to fields like kinesiology and gerontology. Countries such as Canada, Ireland, and the UK are emerging as popular destinations for these unconventional courses.
The world is a mess. That makes the climate crisis harder to solve.
Global leaders face a fractured world at the U.N. General Assembly, grappling with climate change and geopolitical tensions.
Diesel dilemma: Demand drop in India and China puts pressure on crude oil prices
Chinese and Indian diesel markets are showing signs of a slowdown, potentially leading to weaker crude oil prices. In China, diesel demand is contracting, while in India, consumption growth has slowed significantly. This trend is impacting refiners' profits and contributing to concerns about a global oil glut.
Explained: Why is natural gas still flowing from Russia to Europe across Ukraine?
Russian natural gas continues to flow through Ukraine¡¯s pipeline network to Europe despite the ongoing conflict and sanctions. This gas, passing through the Sudzha measuring station, supplies Austria, Slovakia, and Hungary. The pre-war transit agreement between Russia and Ukraine remains in effect until the end of the year.
The sleepy Czech town helping Europe compete in the global chip war
ON Semiconductor Corp. is setting up a $2 billion production facility in Roznov pod Radhostem, Czech Republic, marking the country's largest foreign investment in 30 years.
Can this tiny economy show Europe how to compete again?
Sweden, amid economic challenges like inflation, managed to excel in the tech sector with companies such as Spotify and Klarna. Initiatives in the 1990s, providing early internet access, and strong social programs contributed to this success. A well-funded social safety net encouraged innovation and risk-taking, making Sweden a European tech leader.
Exporters find solace in Africa, Australia as Asia and Europe spoil diesel party
Indian refiners are shifting their diesel exports from Europe and Asia to Africa and Australia due to over-supply and competitive pressure in Europe. In July, diesel exports to Europe and Asia fell by 18% and 21%, respectively, while exports to Africa and Australia increased by 83% and 28%. Overall diesel exports from India rose by 7% to 533,000 barrels per day.
China rules solar energy, but its industry at home is in trouble
SUMMARY1: Over the past 15 years, China's solar industry has faced upheaval despite dominating the global market. Plummeting prices and overcapacity led to massive losses, forcing many companies to cut costs drastically. Beijing's industrial policies, extensive support, and willingness to let companies fail highlight the chaotic landscape. Struggling firms and disappearing subsidies reflect the challenges in China's solar sector.
¡®It is beyond belief we¡¯re still subsidising the cause of the climate crisis ¡ª we need greater subsidies for renewables over fossil fuels now¡¯
"I think the CBAM, to the extent that it does result in significant revenue from tariffs, should recycle some of those funds in lump sum forms to help countries clean up their production processes and adapt to climate change," says Cameron Hepburn, Battcock Professor of Environmental Economics at the Smith School of Enterprise and the Environment, Oxford University.
Europe turns right with feet in centre
European Parliament has shifted centre-right under Ursula von der Leyen-led European People's Party after June elections. Voters are primarily focused on several key issues, such as the economy, the cost of living, the ongoing Russia-Ukraine conflict and its repercussions, and immigration. The response to these concerns will play a pivotal role in shaping the policy agenda of the majority coalition. Stability is paramount, and it will heavily influence the European People's Party (EPP) in selecting its coalition partners.
Traders are bracing for a record-smashing summer that will shake up commodities
Prices for some of the world¡¯s most vital commodities ¡ª natural gas, power and staple crops like wheat and soy ¡ª are climbing.
Charting the Global Economy: New policies considered to be trade-restrictive hit a record in 2023
The world¡¯s three dominant economies are entering a new, combative phase as the US increasingly uses trade weapons borrowed from China¡¯s playbook.
Europe's inflation is way down. But hope is gone for a quick interest rate cut
Europe's energy crisis, sparked by Russia's actions in Ukraine, has seen some relief with a decrease in inflation. However, the European Central Bank (ECB) is not expected to cut interest rates at its upcoming meeting. ECB President Christine Lagarde is likely to stress the need for more evidence that inflation is decreasing toward the bank's 2% target.
With solar industry in crisis, Europe in a bind over Chinese imports
Industry itself is divided over the solution. Solar manufacturers have urged governments to step in to buy up excess inventories of solar modules to ease the oversupply - and, if this cannot be done fast, consider trade barriers. But the broader green energy industry is opposed to import curbs.
Europe wary of clean-tech protectionism on green-transition cost
Negotiators are set to conclude talks Tuesday on the Net Zero Industry Act ¡ª the EU¡¯s answer to the US¡¯s Inflation Reduction Act ¡ª that aims to ensure that the region¡¯s energy transition isn¡¯t accompanied by a mass flight of the critical industries needed to power it.
Europe's biggest economy shrank last year as Germany struggles with multiple crises
Germany's economy shrank 0.3% in 2023 due to expensive energy, lack of skilled labor, and a budget crisis. The country has been facing stagnation since late 2022 and the IMF predicted Germany to be the worst-performing developed economy. Energy-intensive industries faced higher natural gas prices, inflation deterred consumer spending, and a global manufacturing slowdown affected the factory sector.
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