Energy prices have skyrocketed across the EU due to the disruption of cheap supplies from Russia, European Commission chief Ursula von der Leyen has said. Speaking at the World Economic Forum in Davos, Switzerland on Tuesday, von der Leyen said that, before 2022, the EU was receiving 45% of its …
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President Joe Biden’s administration has reportedly confirmed more than $100 billion in US aid to Ukraine since the Russian military offensive began in February 2022, prompting one lawmaker to call for ending the “money pit.” Responding seven months late to a request from Senate Republicans for an accounting of US …
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Austrian Chancellor Karl Nehammer called on Sunday for the EU to impose a cap on power prices and decouple electricity charges from the price of gas. The Austrian leader said failure to do so would let Russian President Vladimir Putin “determine the European electricity price.” “We must finally stop the …
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The closure of Russian airspace has resulted in a number of problems for Finnish air carriers, including the need to re-route flights and the loss of around €1.5 ($1.58) million per month in air navigation fees, the Finnish newspaper Iltalehti reported this week, citing the head of air traffic control …
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Chinese Defense Minister General Wei Fenghe told US Defense Secretary Lloyd Austin on Friday that Beijing would “fight at all costs” to prevent Taiwan from breaking away from the Chinese mainland. His warning comes as the US pursues a multi-million dollar arms deal with Taiwan and amid conflicting messages on …
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The world’s richest man, Elon Musk, saw his fortune shrink by $16.9 billion on Friday, Forbes reports. Earlier this week, reports emerged of Musk’s plans to lay off 10% of Tesla’s employees and suspend hiring, citing the CEO’s leaked letter to senior management. As a result, Tesla shares dropped 9.2%, …
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A EU commissioner, Margrethe Vestager, told Germany’s Handelsblatt newspaper on Wednesday that European consumers will have to put up with permanent price increases for energy as the continent wants to become independent from Russian imports. “A significant part of European industry relies on ultra-cheap energy from Russia, super-cheap Chinese labor …
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The price of imported energy in Italy rose in March by 72.5% on a yearly basis, the National Institute of Statistics (ISTAT) reported on Tuesday. Data showed that the increase in energy prices accelerated by 5.6% compared to February. Italy, which relies heavily on Russia for its energy needs, has …
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About two-thirds of vehicle owners or households in the US are making significant changes to their driving patterns as the cost of gasoline keeps increasing, the latest survey carried out by Maru Public Opinion shows. According to the poll, 66% of drivers have either changed or will change their daily driving habits, …
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The government of Nicaragua announced on Friday that it would not be hiking fuel prices, despite the surge on global markets amid the crisis in Ukraine. Instead, the authorities will absorb 70% of the gasoline and diesel price increase, while leaving the prices on liquefied petroleum gas without any adjustment, …
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