Cyberattack Sends Derivatives Trading Back to the 1980s

Derivatives shops, used to clearing hundreds of billions of dollars in trades every day, found themselves in a dramatically different era this week: the old days of manually processing deals.

The World’s Love Affair With Japanese Cars Is Souring

Toyota’s pursuit of hydrogen fuel-cell vehicles is backed by the country’s trade ministry, which believes that hydrogen is key to achieving net-zero emissions by 2050. The government said in June that by 2035 all cars sold should be “so-called electric-powered vehicles,” with the proviso that hybrids are included.  Japan’s automakers and government leaders have been reluctant … Read more

Zelenskiy Says Bracing for Russia’s Next Move

Ukraine’s troops continue to repel Russia’s attacks in the eastern Donetsk and Luhansk regions. Over the past 24 hours, Russia’s troops carried out three missile- and 10 air-strikes, including on civilian infrastructure in Donetsk region, according to Ukraine’s Military Staff. On top of that, Kremlin troops launched 62 attacks by multiple rocket launchers, causing damage … Read more

EU Sets Gas-Price Cap at €180 in Effort to Stem Crisis

The deal essentially settles what has been one of the EU’s biggest disputes over energy policy since the crisis began. A group of nations led by Germany — the bloc’s largest economy — the Netherlands and Denmark were calling for a cautious approach to avoid too much market intervention. Meanwhile, a faction including Belgium, Italy, … Read more

Fusion Is Nuclear Power Without the Meltdowns and Radioactive Waste

(Bloomberg) — Abundant fuel. No danger of a meltdown. No lingering radioactive waste.  Nuclear fusion, the process US researchers successfully demonstrated this month, has big potential advantages over the nuclear power plants operating today, which run on an entirely different principle. If perfected into a form that can run in a power plant — not … Read more

Pacific Storm Will Pummel US With Snow, Floods and Tornadoes

Upwards of 2 inches of rain could drop suddenly in the valleys of Southern California Saturday into Sunday with up to 6 inches in coastal foothills and mountains, touching off floods and landslides, the US National Weather Service said. Then snow could fall by the foot in the Sierra Nevada range, as well as in … Read more

Truss, Johnson Join Rebellion Against Sunak for Onshore Wind

Wind turbines on the Bradwell Wind Farm, near to the decomissioned Bradwell nuclear power station, site of the planned Bradwell B project, in Bradwell-on-Sea, U.K., on Friday, Feb. 11, 2022. British regulators approved a Chinese-designed nuclear reactor that could be used at the plant in southeast England being developed by China General Nuclear Power Corp. … Read more

G-20 Provides Momentum on Key Climate Goal as Talks Near Climax

G-20 leaders meeting in Bali, Indonesia agreed to pursue the target laid out in the landmark Paris Agreement in 2015, even as the energy crunch triggered by Russia’s invasion of Ukraine threatened to undermine it. That’s giving hope that it will inject much-needed momentum as the climate conference in Egypt enters its final days.

West Texas Natural Gas Prices Go Negative for First Time in Two Years

Meanwhile, US benchmark natural gas futures surged Tuesday amid speculation that a recent selloff has run its course. Contracts for the heating and power-generation fuel delivered at the Henry Hub in Louisiana, which is not directly affected by pipeline constraints in Texas, have fallen for nine straight weeks, the longest losing streak in three decades. … Read more