Article content (Bloomberg) — The sweeping climate law signed by President Joe Biden will boost development of solar, wind and big batteries by at least 20% through 2030, accelerating what would already have been rapid growth, according to BloombergNEF, a clean-energy research group. Article content The Inflation Reduction Act’s long-sought tax credits for renewable technologies will […]
Breadcrumb Trail Links PMN Business Bitcoin mining companies are increasingly opting to sell equity, resorting to one of their least attractive options to raise money as profits dry up and higher interest rates makes borrowing more expensive. Author of the article: Bloomberg News David Pan ngq8unv[1u)mt173]1r[}jdm_media_dl_1.png Bloomberg RSS Article content (Bloomberg) — Bitcoin mining companies […]
Article content (Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Article content The European Central Bank must press ahead with raising interest rates and reducing its balance sheet to ensure inflation expectations don’t unanchor and demand a more aggressive policy response, according to Governing Council member Joachim Nagel. Article […]
Article content (Bloomberg) — Aluminum is continuing to pour into London Metal Exchange warehouses, lifting inventory levels at a time when demand is deteriorating and the market is on high alert for signs that unwanted Russian metal could end up on the bourse. Article content The LME is undertaking a three-week discussion process to consider […]
Article content (Bloomberg) — Europe’s energy crunch will likely trigger a contraction in the German economy next year for only the third time since the financial crisis, according to updated government forecasts published on Wednesday. Article content Gross domestic product is set to shrink by 0.4% in 2023 as soaring power costs crimp industrial output […]
Breadcrumb Trail Links PMN Business British firms were already facing a global energy crunch and post-pandemic inflationary pressures. Now, market chaos following the mini-budget has pushed up borrowing costs and darkened the outlook even further. Author of the article: Bloomberg News Julian Harris bavcub6486)}v4xik4ou8182_media_dl_1.png Bloomberg RSS Article content (Bloomberg) — British firms were already facing […]
Article content (Bloomberg) — Nigeria’s dwindling crude output has forced its state-owned energy company to defer payments to some local gasoline suppliers by at least three months. Nigerian National Petroleum Co. imports all the nation’s gasoline for road transport, swapping most for crude with international traders including Vitol Group and TotalEnergies SE and domestic groups […]
Article content Britain is “extremely unlikely” to see blackouts this winter because it has a sufficient energy buffer and doesn’t get much of its gas supply from Russia, according to senior cabinet minister Nadhim Zahawi. Article content Zahawi, the Chancellor of the Duchy of Lancaster, said in an interview on the BBC that while the […]
Article content France’s premier and more than a dozen government ministers are visiting Algeria, the latest drive to rebuild ties with the North African nation that’s a major gas supplier for Europe. Article content Prime Minister Elisabeth Borne and officials including the finance, foreign affairs and interior ministers are due to arrive Sunday for the […]
Breadcrumb Trail Links PMN Business Vertical farming operations seek to improve food security on the storm-prone island, which imports 85% of what it eats. Author of the article: Bloomberg News Jim Wyss Publishing date: Oct 01, 2022 • 24 minutes ago • 4 minute read • Join the conversation Fiona caused at least $100 million in crop damage, estimates […]