EUROP

Russian bodies, shattered vehicles mark Moscow’s loss of Ukrainian town

LYMAN, Ukraine, Oct 5 (Reuters) – The bodies of two Russian soldiers lay bloating in trees on opposite sides of the road, close to the blasted hulks of the cars and the van in which Ukrainian army officers said the dead men’s unit was retreating into the eastern town of Lyman. Unaware that their forces …

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Swiss pursue home-grown energy panacea – reluctantly

Government wants to ramp up renewable energy output Swiss Alps facilitate hydro, solar power production European energy crisis accelerates progress But concerns about impact on landscape mean compromise BERN / GRANDE DIXENCE, Switzerland, Oct 6 (Reuters) – Having dodged most of the fuel-driven surge in inflation plaguing its neighbors, Switzerland is moving ahead with plans …

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OPEC + oil output cut ahead of winter fans inflation concerns

SINGAPORE, Oct 6 (Reuters) – Global oil supply is set to tighten, intensifying concerns over soaring inflation after the OPEC + group of nations announced its largest supply cut since 2020 ahead of European Union embargoes on Russian energy. The move has widened a diplomatic rift between the Saudi-backed bloc and Western nations, which worry …

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UK business activity slides in September by most since early 2021

UK composite PMI falls to 49.1 in Sept (Prev: 49.6) Consumer confidence rocked by cost-of-living crisis UK private car registrations down 3.6% New British PM has had difficult start in office LONDON, Oct 5 (Reuters) – Britain’s private-sector economy last month suffered the sharpest contraction in activity since a COVID lockdown early last year, underlining …

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OPEC + agrees deep oil production cuts, Biden calls it shortsighted

OPEC + to cut output by 2 mln bpd Real cuts estimated at 1 mln bpd due to under-production Biden criticises decision, calls it shortsighted Saudi says West’s criticism driven by wealth arrogance Saudi says cuts necessary due to rising interest rates VIENNA / LONDON, Oct 5 (Reuters) – OPEC + agreed steep oil production …

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Gas crisis set to worsen after Europe burns through winter stocks

European gas storage tanks around 90% full Gazprom resumes exports to Italy Kremlin wants to join Nord Stream leaks inquiry EU divided over proposals for gas price cap HELSINKI / BRUSSELS, Oct 5 (Reuters) – Europe may face an even more acute energy crunch next year after draining its natural gas tanks to get through …

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Engine parts makers must cross ‘valley of death’ to reach EV era

KIDDERMINSTER, England, Oct 5 (Reuters) – Auto engine parts makers eyeing the promising electric-vehicle market are dealing with a severe case of delayed gratification. Until EVs truly take off, engine parts makers face a perilous few years where they must invest heavily in new machinery, while struggling with falling sales of fossil-fuel cars. Evtec Aluminum, …

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Tesla’s logistical challenges overshadow record deliveries

Oct 2 – Tesla Inc (TSLA.O) on Sunday announced lower-than-expected electric vehicle deliveries in the third quarter, as logistical challenges overshadowed its record deliveries. The top electric car maker said “it is becoming increasingly challenging to secure vehicle transportation capacity and at a reasonable cost,” but some analysts were also concerned about demand for high-ticket …

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Stocks, sterling rally after UK’s tax climbdown injects some confidence

Britain scraps small part of tax plan; markets relieved Reserve Bank of Australia surprises with a small hike High VIX points to more volatility LONDON / SYDNEY, Oct 4 (Reuters) – Global stocks climbed for a second day on Tuesday, after Britain’s decision to ditch part of a controversial tax-cut plan and slightly paler expectations …

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