European gas prices soar to record high as Russia awaits EU approval for delivery of supplies via Nord Stream 2 pipeline
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Gas prices in Europe have topped a new record high, soaring over $1,200 per 1,000 cubic meters on Monday as the global energy crisis worsens due to growing post-pandemic demand. Read Full Article at RT.com
Semiconductor chip shortage could extend through 2022
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The ongoing shortage of semiconductor chips, which is undermining major industries, is expected to extend into next year and potentially beyond, Matt Murphy, CEO of chip maker Marvell Technology, has told CNBC. Read Full Article at RT.com
Russia will run out of gold in 20 years if new deposits not found, biggest gold miner warns
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The chief executive of Russia’s largest gold producer Polyus, Pavel Grachev, has warned that the country’s gold deposits are being depleted, with mining firms expected to exhaust their resource portfolios in the next two decades. Read Full Article at RT.c
Asia is winning the bidding war for natural gas supply
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China and Asia are winning the bidding war for natural gas supplies as the northern hemisphere goes into the winter season with woefully low inventories and recovering demand after the pandemic. Read Full Article at RT.com
China Evergrande share trading suspended on Hong Kong exchange
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Share trading of distressed property giant China Evergrande was suspended in Hong Kong on Monday ahead of a “major transaction” announcement. The company faces default, with debts exceeding $300 billion. Read Full Article at RT.com
Ruble shrugs off global turbulence to become the only gainer among EM rivals
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The Russian national currency, the ruble, was reportedly the only emerging-market currency to appreciate against the US dollar despite Washington’s threat of expanded curbs on purchasing the country’s state debt. Read Full Article at RT.com
Russia has massive hydropower and wind energy potential
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Wind power and hydropower are the renewable energy sources with the best chance of successful deployment in Russia, a new paper has suggested. Read Full Article at RT.com
Tesla shrugs off chip crisis as electric vehicle deliveries hit another record
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US electric car producer Tesla has reported delivery of a record number of electric cars in the third quarter, beating Wall Street projections, despite the global chip shortage faced by automakers. Read Full Article at RT.com
The US has approached China about the latter’s crude oil imports from Iran, seeking to pressure Iran into nuclear deal negotiations through its biggest oil client, Reuters has reported, citing US and European officials. Read Full Article at RT.com
Russian billionaire Oleg Tinkov agrees to pay $500 million to escape prosecution for US tax fraud
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The founder of one of Russia’s largest private banks has reached a plea deal with the US authorities after the tycoon agreed to pay over $500 million in a fraud case that accused him of concealing assets to evade taxes. Read Full Article at RT.com
Bah Blahaj! Rumors of IKEA plan to cull beloved shark plushie sends social media into frenzy
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Throngs of alarmed IKEA customers took to social media to express their disappointment over the possible discontinuation of the world-famous Blahaj shark toy after a vague comment left by the company’s support service on Twitter. Read Full Article at RT.com
Record-breaking natural gas prices equate to oil costing $190 per barrel
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Skyrocketing prices for natural gas have reached a level equivalent to $190 for a barrel of crude, which is higher than the peak oil price during the 2008 financial crisis. Read Full Article at RT.com
Too big to fail? Not in China: Boom Bust looks at how Beijing deals with speculative markets
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While everyone expected Beijing to bail out real estate giant Evergrande, saying the company was too big to fail, the Chinese government has so far taken a different approach to dealing with the crisis. Read Full Article at RT.com
Gas price in Europe sets historic high of $115 per megawatt-hour
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European gas prices have smashed yet another record, adjusting to almost $115 per megawatt-hour in household terms, Intercontinental Exchange (ICE) data showed. Read Full Article at RT.com
Keiser Report finds out why JPMorgan chief is backtracking on his criticism of bitcoin
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After years of calling bitcoin a fraud, JPMorgan CEO Jamie Dimon did a complete 180 this week in regard to his view of the world’s most popular cryptocurrency. Read Full Article at RT.com
Gulf Air launches commercial flights from Bahrain to Israel
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The first direct commercial flight from Bahrain to Israel took off on Thursday. The Arab state signed the US-brokered Abraham Accord last year, agreeing to normalize relations with Israel. Read Full Article at RT.com
Gas price keeps climbing in Europe as Brussels delays Russian supplies via Nord Stream 2
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The price of natural gas in Europe exceeded an all-time high of $1,100 per 1,000 cubic meters on Thursday, trading data from the Intercontinental Exchange (ICE) shows. Read Full Article at RT.com
Boom Bust digs into China’s energy crunch & its effects on global economic recovery
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Manufacturing hubs across China have slowed the production of vital goods due to power outages resulting from Beijing’s ecological agenda and rising coal prices. Read Full Article at RT.com
European gas prices push above record $1,000 for second consecutive day
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The price of natural gas in Europe surged above $1,000 per 1,000 cubic meters for the second day in a row on Wednesday after adjusting to $950 the night before, Intercontinental Exchange (ICE) data shows. Read Full Article at RT.com
S&P upgrades Russia’s economic growth outlook for 2021
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International rating agency S&P has improved its outlook for Russia's GDP growth this year to 4% from its previous forecast of 3.7%, according to a survey released on Tuesday. Read Full Article at RT.com
Boom Bust looks into Facebook’s ‘toxic’ Instagram Kids project
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Facebook said this week it is “pausing” its Instagram Kids project in order to “work with parents, experts and policymakers to demonstrate the value and need for this product.” Read Full Article at RT.com
‘Street brawl’ between France & AUKUS part of de-dollarization & deglobalization trend – RT’s Keiser Report
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The new AUKUS submarine pact between the US, UK and Australia, which saw France lose a major ship-building deal with Canberra last week, has led to a verbal fire exchange and diplomatic snubbing between Washington and Paris. Read Full Article at RT.com
Oil rallies above $80 for the first time since 2018 amid tight supply
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The Brent crude oil price for November exceeded $80 per barrel for the first time in three years, trading data shows. The rally comes as energy demand runs ahead of supply amid post-pandemic recovery. Read Full Article at RT.com
Two top US central bankers resign after reports of controversial investment trades
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Presidents of the Federal Reserve banks of Boston and Dallas are stepping down, after recent reports of potentially unethical investments in 2020 drew criticism and prompted the Fed to launch an ethics review. Read Full Article at RT.com
Taliban calls on airlines to resume international flights to Afghanistan
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The Taliban government in Afghanistan has appealed for international flights to be restored, claiming that all the problems at the Kabul airport have been resolved while promising full cooperation with airlines. Read Full Article at RT.com
Global energy supply crunch pushes oil prices to three-year high
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Crude prices extended gains on Monday, rallying to their highest levels since 2018 as global refineries fail to keep up with fuel demand that is projected to reach pre-pandemic levels by early next year. Read Full Article at RT.com
China to plunge into power crunch as looming Evergrande default sends shockwaves through financial sector – media
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An imminent power-supply shock is reportedly expected to hit China just as the world’s second-biggest economy is gripped with uncertainty over the probable bankruptcy of one of the country’s real estate majors, Evergrande. Read Full Article at RT.com
Food spending in Asian countries to double by 2030 – report
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Asian states are on course to double their spending on food by 2030 to some $8 trillion, with over $1.5 trillion of investment needed to keep up with the demand, a new report finds. Read Full Article at RT.com
Russia to commission 15 new nuclear power units by 2035 – Rosatom
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The number of nuclear power units in Russia will be increased at most of the country’s operational nuclear power plants, according to Director General of the State Atomic Energy Corporation Rosatom, Aleksey Likhachev. Read Full Article at RT.com
US firms’ direct investments in Russia 9 times higher than official figures indicate – survey
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American companies operating in Russia have made direct investments amounting to a total of $96.05 billion, according to the sixth annual joint survey of the American Chamber of Commerce in Russia (AmCham) and Ernst & Young. Read Full Article at RT.com
Gas or gaslighting? Ukraine accuses Russia of weaponizing energy resources
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The head of Ukraine’s state-controlled energy corporation Naftogaz is calling on Washington and Berlin to take decisive action against Russia, accusing the country of using its natural gas as a geopolitical weapon. Read Full Article at RT.com
Poland has no power to veto certification of Nord Stream 2 – Germany
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Poland’s energy company PGNiG will not have the right to veto the certification of Russia’s Nord Stream 2 gas pipeline, says German energy regulator Bundesnetzagentur (BNetzA). Read Full Article at RT.com
Strong exports to speed up China’s economic recovery – report
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The Chinese economy is expected to maintain its recovery over the rest of 2021 thanks to the country’s strong exports, according to research by the Asian Development Bank (ADB). Read Full Article at RT.com
Poland claims Russia’s Nord Stream 2 pipeline does not meet European certification requirements
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Polish energy company PGNiG has claimed Russia’s Nord Stream 2 gas pipeline does not meet EU requirements, possibly causing further delays to the certification process needed to launch gas deliveries. Read Full Article at RT.com
JPMorgan facing oil bribery probe in Brazil – media
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An investigation is underway in Brazil into whether JPMorgan Chase took part in an alleged bribery and money laundering scheme, dating back to 2011, involving state-run oil company Petrobras. Read Full Article at RT.com
Cryptocurrencies continue to slide amid global market uncertainty
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The world's most popular cryptocurrency, bitcoin, continued trading in the red on Wednesday, after a day which saw it briefly drop below $40,000 for the first time since August. Other leading cryptos are also trading lower. Read Full Article at RT.com
Could new ransomware attack threaten US food supply? Boom Bust finds out
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Another massive cyberattack on a major US agriculture group has forced the services provider’s systems to go offline. The attack is believed to have been carried out by a successor of the Colonial Pipeline hacker. Read Full Article at RT.com
India to resume Covid vaccine exports to developing nations
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The world’s largest vaccine producer, India, has announced that starting from October it will resume coronavirus vaccine exports to developing countries that have struggled to inoculate their populations. Read Full Article at RT.com
Russian economy ‘completely restored’ to pre-pandemic level – Putin
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Russia has completely overcome the economic decline caused by the Covid-19 pandemic, President Vladimir Putin said on Tuesday during a meeting on economic issues. Read Full Article at RT.com
