Throughout 2022, the weaponisation of natural gas supplies by Russia led to concerns regarding the security of natural gas supply in Europe. This column reviews the reasons behind the increases in energy prices and prospects for 2023–24. Decisive EU policy and market rebalancing helped reduce concerns about shortages, bringing prices back to physical fundamentals. Similar […]
Raising awareness about climate change is important for support and action, but the effects of anticipating its impact are still unclear. This column introduces a new framework to estimate the economic impact of climate change on all US counties, revealing it to be roughly twice as large as previous studies. Anticipation of future changes plays […]
Wall Street’s main indexes climbed on Monday as investors braced for earnings from megacap growth and technology companies, while focusing on an interest rate decision from the Federal Reserve. All eyes will be on the quarterly reports of Microsoft, Google-owner Alphabet and Meta Platforms this week, as market participants will be keen to know whether their earnings […]
Apple is asking suppliers to produce about 85 million units of the iPhone 15 this year, roughly in line with the year before, Bloomberg News said on Monday citing people familiar with the matter. The company is aiming to hold shipments steady despite a projected decline in the overall smartphone market, the report said, adding Apple […]
Threads, Meta Platform’s broadside to Twitter, is seen by some advertisers as less contentious and more predictable than Elon Musk’s platform, and analysts say it could lure away marketing budgets – eventually. Launched on July 5, Threads became the fastest-growing social media platform to hit 100 million users, the apparent first serious threat to the dominant […]
French-Italian automaker Stellantis and South Korean battery maker Samsung SDI on Monday said they plan to open a second joint-venture plant in the U.S. to build electric vehicle batteries, with a target to start production in 2027. The companies said the transaction still needs to be finalized, and where the plant will be located is under review. […]
The United States commissioned a warship in Sydney, Australia, on Saturday, the first time a U.S. Navy vessel joined active service at a foreign port, as the two close allies step up their military ties in response to China’s expanding regional reach. The Independence-class littoral combat ship – named after a Royal Australian Navy cruiser […]
Oil prices rose on Monday as tightening supply and hopes for Chinese stimulus measures underpinned Brent at well above $80 a barrel, even as traders expected more rate hikes from U.S. and European central banks. Brent crude futures were up 91 cents, or 1.1%, at $81.98 a barrel by 1415 GMT. U.S. West Texas Intermediate (WTI) crude […]
Tesla representatives are set to meet India’s commerce minister this month to discuss plans to build a factory to produce what the company has described as an all-new $24,000 car, a person with direct knowledge of the matter told Reuters. Tesla has expressed an interest in building a factory in India that would produce low-cost […]
Worldcoin, a cryptocurrency project founded by OpenAI CEO Sam Altman, launched on Monday. The project’s core offering is its World ID, which the company describes as a “digital passport” to prove that its holder is a real human, not an AI bot. To get a World ID, a customer signs up to do an in-person […]
