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Energy Crisis Sires New European Order: A Strong Italy And Ailing Germany

MILAN/FRANKFURT, Sept 30 (Reuters) – In the weeks after Russia’s invasion of Ukraine on Feb. 24, Claudio Descalzi, CEO of Italian energy major Eni (ENI.MI), embarked on a whirlwind of trips to gas suppliers in Africa.

The visits included meetings with officials in Algeria in February plus talks in Angola, Egypt and Republic of Congo in March, with Descalzi often accompanied by senior Rome officials, according to company and government releases.

Full coverage: REUTERS

EU Countries To Back Energy Windfall Levies, Lock Horns Over Gas Price Cap

BRUSSELS, Sept 30 (Reuters) – European Union countries meet on Friday to approve emergency levies on energy firms’ windfall profits and launch talks on their next move to tackle Europe’s energy crunch – possibly, a gas price cap.

Energy ministers from the 27 EU member countries are negotiating measures proposed by Brussels last week to attempt to contain an energy price surge that is stoking record-high inflation and threatening a recession.

Full coverage: REUTERS

Morning Bid: Hawks And Hardliners

A look at the day ahead in European and global markets from Vidya Ranganathan

The third quarter of 2022 draws to a close with monetary and military hawks prevailing, and financial markets nursing some of the worst setbacks in decades.

Russian President Vladimir Putin is set to host a Kremlin ceremony on Friday annexing about 15% of Ukraine, after what Ukraine and Western countries said were sham votes staged at gunpoint in Russian-occupied areas of Donetsk, Luhansk, Kherson and Zaporizhzhia.

Full coverage: REUTERS

Hurricane Ian Veers Toward Carolinas After Pummeling Florida

FORT MYERS, Fla., Sept 30 (Reuters) – A resurgent Hurricane Ian barreled north on Friday toward a second landfall in South Carolina, a day after carving a path of destruction across central Florida that left rescue crews racing to reach trapped residents along the state’s Gulf Coast.

Ian, which had weakened to a tropical storm during its march across Florida, regained Category 1 hurricane strength on Thursday afternoon while churning toward South Carolina above the Atlantic Ocean, with maximum sustained wind speeds of 75 mph (120 kph), the U.S. National Hurricane Center (NHC) said.

Full coverage: REUTERS

Asian Shares Head For Worst Month Since Pandemic Started

SYDNEY, Sept 30 (Reuters) – Asian shares on Friday were headed for their worst month since the onset of COVID-19, while jitters in currency and bond markets persisted over hawkish talk from central banks, worries about a global recession and rising geopolitical risk.

MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.3%, taking its monthly loss to a staggering 13% – the largest since March 2020 when the nascent pandemic threw financial markets into chaos.

Full coverage: REUTERS

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Industry Dynamics

Analysis: UBS Swallows Doomed Credit Suisse, Casting Shadow Over Switzerland

LONDON, March 20 (Reuters) – UBS Group (UBSG.S) emerged as Switzerland’s one and only global bank with a state-backed rescue of its smaller peer Credit Suisse, a risky bet that makes the Swiss economy more dependent on a single lender. The unprecedented move announced late on Sunday in Zurich capped a race against time by regulators to avert a […]

2023-3-20 | Industry Dynamics

SpaceX, Netflix, Boeing To Join "Biggest-Ever" US Business Mission To Vietnam 

HANOI, March 17 (Reuters) - SpaceX, Netflix and Boeing are among the companies joining the "biggest-ever" U.S. business mission to Vietnam next week to discuss investment and sales opportunities in the booming Southeast Asian nation, the organizer said. 

2023-3-17 | Industry Dynamics

Weekly Economic Calendar For March 20, 2023 – March 24, 2023

Weekly Economic Calendar For March 20, 2023 – March 24, 2023.

2023-3-17 | Industry Dynamics