BANGKOK—World shares were mostly higher Monday following last week’s rally on Wall Street, where investors bet that slow U.S. wage gains may augur a cooling of the inflation that has led the Federal Reserve to hike interest rates. In Europe, Germany’s DAX gained 0.3 percent to 14,647.16 and the CAC 40 in Paris edged less…
World Shares Up, Extending Wall Street Gains as US Wages Slow
January 9, 2023
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‘Well-Designed’: Review Defends Australia’s Carbon Offset Scheme
January 9, 2023
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Australia’s carbon credit trading scheme, oft-accused of harbouring businesses attempting to circumvent environmental obligations, has been given the tick of approval by an independent review. A six-month review led by scientist Ian Chubb, as well as three other leading scientists, said the scheme had been working effectively after 11 years of operation. Carbon trading puts…
Bipartisan Appalachian Governments Work to Become One of Many ‘Hydrogen Hubs’
January 8, 2023
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A bipartisan group of Appalachian governors is coming together to focus on hydrogen and its uses in the future as a fuel and energy source. The group is part of several around the country working to secure funding from the U.S. Department of Energy (DOE) to fund regional hydrogen hubs. The Appalachian Regional Clean Hydrogen…
Germany, Norway Reach Agreement on Blue Hydrogen Supplies
January 7, 2023
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A major Norwegian energy company has reached an agreement to supply Europe’s largest economy with “blue” hydrogen. Norway’s Equinor announced an agreement on Jan. 5 to supply the German power utility, RWE, with low-carbon hydrogen, in the first step towards replacing natural gas and coal, reported Deutsche Welle. The Norwegian supplier agreed to build hydrogen fueled power…
New Organization Pays Journalists to Spread Climate-Change Ideology
January 6, 2023
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If you want to fight climate change, one way is to pay journalists to spread the word while training them in environmental ideology. Another way is to promote products that are in line with the transition to renewable energy so that eco-friendly companies can profit from the so-called “moral opportunity.” This is the approach of…
World Food Prices Hit Record High in 2022
January 6, 2023
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PARIS—A surge in the cost of most food commodities last year, as the disruption caused by Ukraine’s conflict raised concerns of shortages, sent the U.N. food agency’s average price index to the highest level on record. The Food and Agriculture Organization’s (FAO) food price index, which tracks international prices of the most globally traded food…
Increased UK Windfall Tax Hits Shell’s Earnings for Last Quarter of 2022
The increased level of UK windfall taxes on oil and gas producers has hit Shell’s earnings in the fourth quarter of 2022, the company has said. Shell revealed it will face a hit of $2 billion (£1.7 billion) to its latest quarterly earnings due to windfall taxes in both UK and the European Union. The…
Oil Prices Firm on Optimism Over China’s Reopening
January 6, 2023
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LONDON—Oil prices edged higher on Friday on hopes of a Chinese demand boost, but the broader global economic outlook kept crude benchmarks on course for a weekly decline. Brent crude futures rose 56 cents, or 0.71 percent, to $79.25 a barrel by 1009 GMT. U.S. West Texas Intermediate crude futures were up 60 cents, or…
Global Stocks Tepid Before US Jobs Test; Dollar Stands Tall
January 6, 2023
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LONDON, TOKYO—Global equities were set to end the first week of 2023 on a tepid note and the dollar stood tall as fears of higher U.S. interest rates hit market sentiment. The MSCI World equity index traded steadily on Friday, on course for its fifth consecutive weekly drop despite a brief rally earlier in the…
Oil Rebounds After Biggest Drop in Decades at Start of Year
January 5, 2023
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LONDON—Oil rebounded over 2 percent on Thursday after posting the biggest two-day loss for the start of a year in three decades with the shutdown of a U.S. fuel pipeline providing support, though economic concerns capped gains. Big declines in the previous two days were driven by worries about a global recession, especially since short-term…
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