The U.S. economy continued to add new jobs in August, although the pace slowed compared to the previous month, while wages continued to move upward, government data released today showed. In particular, jobs in the economy increased by 315,000 last month, after the rise of 526,000 jobs in July, as the US Department of Labor […]
Tag: International financial news
Russia Prepares to Restore Natural Gas Flows – 15% Plunge in Prices
Moscow indicated it would restore gas flows to Europe via Germany’s critical Nord Stream pipeline, easing markets. In particular, as Bloomberg reports, shipment orders published by the pipeline operator suggest that Russian gas flows are expected to resume from 2 a.m. Berlin time on Saturday. The orders show the pipeline will be restored to 20% […]
Mr. Big Short Michael Berry is back: ‘The mother of all crashes’ is here
In yet another ominous prediction for the course of Wall Street, the mega-investor made famous by the movie “The Great Shorting” Michael Berry, claiming that a market crash has begun. Earlier this year Michael Berry referred to the “foolishness” that has returned, saying markets are behaving irrationally once again. Last year, he sounded the alarm […]
EU plan to intervene in energy markets – ‘There are limits’ to what it can achieve
An emergency intervention in European electricity markets may lower prices but will not protect the region’s economy from the knock-on effects of a historic energy crisis, according to the Commission. The European Union is working on measures to curb electricity costs as Russia cuts shipments of natural gas needed to power power plants weeks before […]
Germany is also planning a fifth floating LNG terminal that will be operational by the end of 2023
The German government announced today the construction, also in cooperation with the French company Engie, of a fifth floating liquefied natural gas (LNG) station, as Berlin tries to reduce its dependence on Russian natural gas. The new terminal will have a capacity of at least 5 billion cubic meters and is expected to be operational […]
Italy: The government is preparing energy saving measures
According to Italian media, the government of Mario Draghi is preparing to approve two new main measures to save energy. At today’s cabinet meeting, as broadcast by Rai public television, Energy Minister Roberto Cingolani, in accordance with information, emphasized that from the beginning of October, private and public services, as well as the tenants of […]
New energy threat from Russia: ‘We will cut off oil in countries that will impose a ceiling’
LAST UPDATE: 20.36 Russia will stop deliveries of oil and oil products to countries that decide to curb the cost of Russian oil, Russian Deputy Prime Minister Alexander Novak said, according to Russian news agency TASS. “Regarding the ceiling on prices. If they impose a ceiling, we simply to such companies or countries that will […]
Russia: We estimate that maintenance work on Nord Stream1 will last three days
Russian Deputy Prime Minister Alexander Novak said today that state energy giant Gazrpom estimates that maintenance work on the Nord Stream 1 gas pipeline will be completed within three days. “These are technical issues. Gazprom said the outage will last three days. We make our assumptions based on this statement,” Novak told reporters when asked […]
US: Manufacturing PMI at lowest level since July 2020
US manufacturing activity slowed further in August as the economy continues to grapple with the shocks of a rally in inflation and aggressive rate hikes by the Federal Reserve. In particular, the manufacturing PMI fell to 51.5 points in August, slightly better than the initial reading of 51.3 points, but lower than the reading of […]
US: New jobless claims at nine-week low
New claims for unemployment benefits in the US fell to their lowest level since June at the end of August, confirming the resilience of the US labor market to the shocks that the inflation rally continues to cause. Specifically, initial jobless claims fell by 5,000 for the week ended Aug. 27, sliding to a nine-week […]