LONDON/HONG KONG–Markets were cautious on Tuesday, as the latest talks over the U.S. debt ceiling offered something for optimists and pessimists, leaving European shares just shy of last week’s 15-month top, and U.S. benchmark yields at their highest in two months. President Joe Biden and House Speaker Kevin McCarthy could not reach an agreement on…
PBO Stands By Report That ‘Clean Fuel Regulations’ Will Hurt Canadian Households Financially
Despite fierce criticism from the Liberals, the Parliamentary Budget Officer (PBO) stands by his analysis of the government’s Clean Fuel Regulations (CFR), which finds that Canada’s lower-income households will bear a greater burden in terms of disposable income due to the increased costs associated with the policy. The CFR aims to reduce carbon emissions from fossil…
Oil Steady as US Default Risk Offsets Demand Outlook
LONDON—Oil prices were steady on Monday as caution relating to U.S. debt ceiling talks dragged on optimism over demand later in the year and offset support from lower supplies from Canada and OPEC+ producers. Brent crude futures rose 13 cents, or 0.2 percent, to $75.71 a barrel by 0850 GMT, while U.S. West Texas Intermediate…
Stock Market Today: Global Shares Mostly Rise Despite Worries About US Debt Talks
May 22, 2023
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TOKYO—Global shares mostly drifted higher Monday as investors fretted over whether the United States government will be able to reach a deal to avoid a federal default. France’s CAC 40 inched down less than 0.1 percent in early trading to 7,489.72, while Germany’s DAX slipped 0.1 percent to 16,261.45. Britain’s FTSE 100 gained 0.3 percent…
Star Wars or Hobbiton: Where Does Australia Stand on Nuclear Debate?
Commentary The AUKUS submarines have already performed their first stealth mission, inserting the question of nuclear power back into the national conversation—this time as a practical possibility. When he was defence minister, Opposition Leader Peter Dutton was partly responsible for the decision to buy eight nuclear power submarines. Now in his speech-in-reply to the budget,…
US and Australia Establish Climate and Clean Energy as ‘Third Pillar’ of Alliance
May 21, 2023
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The United States will support Australia to become a global renewable energy powerhouse and has established renewable energy and the climate as a “central pillar” of the bilateral alliance. “Today, what we’ve done is add a new element to that alliance up front, very clearly, unequivocally, on climate action. Because climate action, of course, is…
Celebrity Chef José Andrés Exempted From Gas Stove Ban in California City
May 19, 2023
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A California city’s ban on natural gas stoves will not be applied to the restaurant renowned chef and restaurateur José Andrés is slated to open, officials revealed Tuesday, describing the situation as “unique” and a “one-off.” In a statement on Tuesday, the City of Palo Alto said a settlement was reached with Simon Property Group…
Newsom Proposes Raising Californians’ Electricity Consumption Tax to Investigate ‘Big Oil’
May 19, 2023
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California Gov. Gavin Newsom’s recently passed law to “hold Big Oil accountable” faces more pushback in the state Legislature this week as lawmakers decide how to pay for its implementation. The governor told Californians in a video posted in January they “won’t pay a cent” for his new law to punish oil companies for last…
Net Zero Hydrogen Levy Plans Could Push Energy Bills Up by £120 a Year: Report
The extra levy for hydrogen could add £118 to annual household bills, a 10 percent increase on dual fuel bills under the government’s net zero plans, according to analysis. A report from the centre-right think tank Onward published on Thursday claims that the levy to pay support for hydrogen production would raise energy bills by around…
Climate Protesters Disrupt Democrats, Financiers, Big Tech at Energy Summit
May 19, 2023
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The Politico Energy Summit on May 18 revealed a growing fissure between the Biden administration and the left wing of its base, as the president seeks to position himself as a centrist ahead of the 2024 election. As Citi’s Val Smith spoke during a panel discussion, a protester piped up to demand that Smith’s bank…
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