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☆ Hungary MOL says oil shipments on Druzhba pipeline temporarily suspended
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: 1 min

Companies MOL Magyar Olajes Gazipari Nyrt FollowBUDAPEST, Nov 15 (Reuters) - Hungarian oil and gas group MOL (MOLB.BU) said on Tuesday that it had been notified by Ukraine that oil supply to Hungary, Slovakia and the Czech Republic via the Druzhba pipeline has been temporarily suspended. MOL said its Ukrainian partner notified the company that a power station near the pipeline in Ukraine close to the Belarus border that provides electricity for a pump station, was hit by a Russian rocket and that led to the stoppage. Reporting by Krisztina Than; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ Russia notified by Ukraine of oil supply suspension to Hungary via Druzhba -RIA
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Nov 15 (Reuters) - Russia's state-owned pipeline monopoly Transneft (TRNF_p.MM) has been notified by Ukraine that oil supply to Hungary via the Druzhba oil pipeline's southern leg is temporarily suspended, the RIA news agency quoted Transneft as saying. "Ukrainian side has informed us that they have suspended (oil) pumping towards Fenyeslitke (in Hungary) due to voltage drop," RIA quoted Igor Dyomin, an aide to Transneft president, as saying on Tuesday. UkrTransNafta, the company that operates the Ukrainian section of Druzhba, was not immediately available for comment. Hungarian company MOL said in an emailed statement separately that it was notified by Ukraine that oil supply to Hungary, Slovakia and the Czech Republic via the Soviet-era built Druzhba pipeline has been temporary suspended. MOL's reserves were sufficient to ensure continuous supply in Hungary until the situation is resolved, it added.

BUDAPEST/PRAGUE, Nov 15 (Reuters) - Oil supply to parts of Eastern and Central Europe via a section of the Druzhba pipeline has been temporarily suspended, according to oil pipeline operators in Hungary and Slovakia. The Druzhba pipeline network originates in Russia and splits in Belarus into Ukraine, where it splits again, supplying several countries in Eastern and Central Europe that depend on that oil, including refineries in landlocked Hungary, Slovakia and the Czech Republic. Czech pipeline operator MERO has not observed disruptions so far in the flow of oil through the Druzhba line, a spokeswoman said on Tuesday. Polish pipeline operator PERN said late on Tuesday that oil is flowing normally via the Polish section of the line. The Druzhba pipeline network originates in Russia and extends into Eastern and Central Europe.

☆ NATO could invoke Article 4 after Russian missiles struck Poland. Here's what that means.
▼ + stars: | 2022-11-15 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +8 min

The incident could invoke NATO Article 4, which allows any member to call for a consultation when threatened. Several NATO countries previously invoked Article 4 after Russia invaded Ukraine in February. Such defiant language ostensibly appeals to the collective defense principle at the heart of NATO Article 5. As such, NATO and its members have no binding obligation to defend Ukraine against Russia's attacks. Biden has made clear that US troops thus far deployed to Eastern Europe are there to bolster NATO member countries wary of nearby Russian aggression.

☆ Slovakia's InoBat eyes electric vehicle battery plant in Serbia
▼ + stars: | 2022-11-14 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

The Serbian government has agreed to provide funding of up to 419 million euros ($431 million) including grants and tax incentives to support the project, InoBat said. InoBat has said it wants to build a gigafactory in western Europe and one in eastern Europe. Last month InoBat said it had signed a declaration of intent with Spain's government to build a gigafactory in Valladolid. The company aims to build battery production capacity in 4 GWh increments starting in 2025 - costing around 350 million euros each - as contracts are signed. Ideanomics is an investor in InoBat, as are mining group Rio Tinto (RIO.L) and Czech utility CEZ (CEZP.PR).

☆ Bencic leads Switzerland past Italy, Slovakia beat Belgium
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

Nov 9 (Reuters) - Belinda Bencic led Switzerland to victory over Italy in their opening Billie Jean King Cup tie on Wednesday while Slovakia bounced back from a tough loss to Australia to defeat Belgium and get their campaign back on track. Earlier, Viktoria Kuzmova and Anna Karolina Schmiedlova won their singles ties to help secure a 2-1 victory over Belgium in their final Group B tie. Schmiedlova sealed the tie for Slovakia in a tenacious 5-7 6-2 6-3 win over Maryna Zanevska before the doubles pairing of Elise Mertens and Kirsten Flipkens got Belgium on the board with a crushing 6-0 6-3 win over Kuzmova and Mihalikova. The United States will take on Poland in Group D while Spain face Kazakhstan in Group C later on Wednesday. Reporting by Hritika Sharma in Bengaluru Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.

☆ Russia's Sberbank sues Glencore for $116 mln over oil supplies
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Russia's largest lender Sberbank in Moscow, Russia, December 24, 2020. The database showed Sberbank was seeking to recover debt and penalties from Glencore Energy UK Ltd over two agreements, worth roughly 58 million euros each. One related to oil blend supplies to the border of Ukraine and Hungary in March, and the other to supplies to the border of Ukraine and Slovakia in the same month. Russia sent its troops into Ukraine on Feb. 24 for what it calls a "special military operation". ($1 = 1.0073 euros)Reporting by Oksana Kobzeva Writing by Vladimir Soldatkin Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

It wants 3.8 billion pounds ($4.4 billion) to build a gigafactory in northern England but its plans are hanging by a thread as it struggles to lure enough investment. French battery startup Verkor, for example, announced on Wednesday that it had raised 250 million euros ($249 million) to fund a megafactory. The European Battery Alliance (EBA) acknowledges Asian firms, and Chinese companies in particular, are likely to increase their market share in the coming years, helped by their track record and offtake agreements. "Even if we have the production in Europe, it doesn't mean we have the know-how or the control," she said. The EU has approved 6.1 billion euros since 2019 in funding by member states for battery research and innovation while Britain has a 1 billion pound fund to support investments in EV supply chains.

☆ Moody's downgrades outlook for banks in Germany, Italy and elsewhere
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Nov 2 (Reuters) - The ratings agency Moody's said on Wednesday that it had downgraded the outlook for banks in Germany, Italy and four other countries to "negative" from "stable" as the energy crisis and high inflation weaken economies. "We expect operating conditions to deteriorate further," Louise Welin of Moody's said. European banks' shares (.SX7e) have fallen nearly 25% from their highs before Russia invaded Ukraine earlier this year. Moody's said it expected weaker bank loan quality, profitability and access to funding. The outlook for British and Austrian banks remained stable, Moody's said.

Some of Europe's largest banks have warned of growing risks as the economy fizzles after posting stronger-than-expected profits last week. European banks' shares (.SX7e) have fallen nearly 25% from their highs before Russia invaded Ukraine in February. The outlook for British and Austrian banks remained stable, Moody's said. For Italy, Moody's cited stagflation risks and an expectation that the economy won't grow in 2023 after an expansion of 2.7% in 2022. In Poland, Moody's said banks face a near stagnation in economic growth next year, coupled with a big rise in interest rates and inflation, which will "limit growth opportunities".

☆ Europe’s diverging prices complicate ECB’s task
▼ + stars: | 2022-11-01 | by ( Pierre Briancon | ) www.reuters.com time to read: +4 min

LONDON, Nov 1 (Reuters Breakingviews) - The euro zone monetary policy debate may soon become more tense. The region’s inflation rate, at 10.7% in October, masks wide disparities among member states. The recent dispersion in euro zone inflation rates began with the recession triggered by Covid-19. Retail energy prices in the euro area increased by 40% between August 2021 and August 2022. Monetary policy may become less predictable.

☆ ECB policymakers stick with hike plans even as recession looms
▼ + stars: | 2022-10-28 | by ( Balazs Koranyi | ) www.reuters.com time to read: +5 min

[1/2] Signage is seen outside the European Central Bank (ECB) building, in Frankfurt, Germany, July 21, 2022. But policymakers on Friday appeared to be on message that rates will keep going up. Investors now see ECB rates peaking at around 2.75%, above levels near 2.5% seen on Thursday after the ECB's rate hike and language tweaks. RECESSIONThe policymakers' reinforcement of the rate hike message comes as a recession now looks almost certain, and will likely prompt a barrage of further criticism from European leaders. But ECB chief Christine Lagarde pushed back on the criticism on Thursday, arguing that breaking inflation was the ECB's chief mission and governments could help by providing targeted support for the most vulnerable.

BENGALURU/STOCKHOLM, Oct 25 (Reuters) - Messaging app WhatsApp was starting to come back online at 0900 GMT and the company said the issue has been fixed after users across the world reported problems earlier on Tuesday. At around 0750 GMT, outage reporting site Downdetector had shown over 68,000 users had reported problems with the app in the United Kingdom. We have fixed the issue and apologise for any inconvenience," a spokesperson for WhatsApp parent company Meta Platforms (META.O) said. The company had not sent any fresh updates as users in Asia, India and the United Kingdom started seeing some connections come back online. In the past, rival apps like Telegram, Snap or even Meta's Instagram have seen temporary spikes in users when WhatsApp has been down.

☆ Norsk Hydro Q3 beats forecast, outlook more uncertain
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +2 min

OSLO, Oct 25 (Reuters) - Norwegian aluminium producer Norsk Hydro (NHY.OL) posted third-quarter profits well above expectations on Tuesday as high metal prices continued to boost returns, but said its outlook was more uncertain amid high inflation and weaker global growth. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to 9.72 billion Norwegian crowns ($926.02 million) in July-September from 7.22 billion a year earlier, beating an average analyst forecast of 7.84 billion. While global production of the light-weight metal, used in packaging, transport, construction and electronics, is expected to lag consumption this year, the worldwide supply of aluminium looks set to slightly outstrip demand in 2023, Hydro said. Aluminium prices on the London Metal Exchange rose sharply in early 2022, hitting record highs above $4,000 a tonne, but have since fallen to trade at $2,178 on Tuesday. ($1 = 10.4965 Norwegian crowns)Register now for FREE unlimited access to Reuters.com RegisterReporting by Victoria Klesty and Terje Solsvik, editing by Stine Jacobsen and Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ ATP roundup: Stan Wawrinka ousts Casper Ruud in Switzerland
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +2 min

[1/7] Aug 8, 2022; Montreal, Quebec, Canada; Stan Wawrinka (SUI) hits a shot against Emil Ruusuvuori (FIN) (not pictured) during first round play at IGA Stadium. David Kirouac-USA TODAY SportsOctober 25 - Playing in his home nation and on a protected ranking, 37-year-old Stan Wawrinka knocked out No. 2 seed Casper Ruud of Norway 6-4, 6-4 in the first round of the Swiss Indoors Basel on Tuesday in Switzerland. He saved all three break points he faced against Ruud, went 2-for-2 in break points converted and held a 9-5 edge in aces. In the second round, Thiem could face No.

☆ Factbox: Europe's alternatives if Russia shuts off gas supply
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +7 min

Germany halted certification of the new Nord Stream 2 gas pipeline from Russia because of the Ukraine war so it never went into operation. Germany, Europe's biggest consumer of Russian gas, can import gas from Britain, Denmark, Norway and the Netherlands via pipelines. Southern Europe can receive Azeri gas via the Trans Adriatic Pipeline to Italy and the Trans-Anatolian Natural Gas Pipeline (TANAP) through Turkey. Liquefied natural gas (LNG) imports to Europe have increased from producers such as the United States, Qatar and other countries. OTHER OPTIONS TO COPE WITH A GAS SUPPLY CRUNCH?

☆ Eastward gas flows via Yamal-Europe pipeline rise; flows via Ukraine steady
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

Companies Gazprom PAO FollowLONDON, Oct 19 (Reuters) - Eastbound gas flows via the Yamal-Europe pipeline from Germany to Poland rose on Wednesday while Russian supplies to Europe via Ukraine remained stable. Nominations for Russian gas into Slovakia from Ukraine via the Velke Kapusany border point stood at 36.7 million cubic metres (mcm), almost unchanged from the previous day, Ukrainian transmission system data showed. Gas flows via the Nord Stream 1 pipeline, which crosses the Baltic Sea from Russia to Germany, were flowing at 102 kWh/h on Wednesday between 0700 and 0800 CET. Russia said it was unable to restart the pipeline but since then the pipeline has also been damaged by suspected sabotage. Register now for FREE unlimited access to Reuters.com RegisterReporting by Marwa Rashad; Editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

☆ Slovakia's InoBat intends to build electric vehicle battery factory in Spain
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

MADRID, Oct 19 (Reuters) - Slovakia's battery manufacturer InoBat said on Wednesday it had signed a declaration of intent with the Spanish government to set up an electric vehicle battery factory in the city of Valladolid in central Spain. The declaration of intent is not a finalised agreement and other locations, including the United Kingdom, remain under consideration for its Western European gigafactory, the company added in a statement, explaining that it plans to make a decision on the location before the end of the year. According to the Spanish Industry Ministry, the plant is expected to cost 3 billion euros ($2.94 billion) and would create more than 2,000 direct jobs. InoBat considers Valladolid an attractive location due to its wealth of talent, access to renewable energy, proximity to equipment manufacturers and strong transport links. ($1 = 1.0206 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Inti Landauro, editing by Andrei KhalipOur Standards: The Thomson Reuters Trust Principles.

☆ NATO is pouring concrete to support new 'battlegroups' in 4 countries amid rising tensions with Russia
▼ + stars: | 2022-10-19 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +7 min

NATO now has some 40,000 troops under its direct command in Eastern Europe — 30,000 of them in those eight battlegroups. More than a tripwireUS soldiers at a base in Latvia to support NATO's battlegroup there on February 25. Hungary had refused to accept NATO troops, with its foreign minister saying before Russia attacked Ukraine that Hungary's military could defend the country. Following Russia's invasion, Hungary was persuaded to host a few hundred NATO troops in a battlegroup that it would lead. Accommodating and integrating an influx of NATO troops is not easy, even for countries that are eager to counter Russia.

Germany - the bloc's biggest economy and the main opponent of capping gas prices - said joint purchases, reducing consumption and boosting supply were the way to go instead. Register now for FREE unlimited access to Reuters.com RegisterAhead of the summit, the EU's executive European Commission will propose separately on Tuesday another set of measures to curb high energy prices. They would not, however, include an immediate cap on gas prices, something that has split the bloc. The Croat and Lithuanian ministers backed a wholesale gas price cap, with Croatia also highlighting the need for joint gas purchases among the 27 EU member states. Tytti Tuppurainen, EU affairs minister of Finland - a country generally sceptical of market interventions - said Helsinki was now ready for a "temporary" price cap on gas.

☆ ‘Radicalized teenager’ killed two outside Slovakia gay bar, prime minister says
▼ + stars: | 2022-10-14 | by ( ) www.nbcnews.com time to read: +2 min

BRATISLAVA, Slovakia — A “radicalized teenager” shot dead two people outside a gay bar in Slovakia’s capital, Bratislava, Prime Minister Eduard Heger said. The gunman killed two people and wounded another near the Teplaren bar in the city center Wednesday evening, police said. “I strongly condemn a murder of two young people shot dead in Bratislava last night by a radicalized teenager,” Heger wrote on Twitter. Jaroslav Novak / APSlovak media reported the main suspect had posted messages with the phrases “hate crime” and “gay bar” hashtagged on Twitter. It is hate that does not belong in Slovakia,” she told reporters after visiting the scene of the attack.

☆ Europe is still quietly importing Russian nuclear energy
▼ + stars: | 2022-10-14 | by ( Sam Meredith | ) www.cnbc.com time to read: +6 min

On presenting its latest sanctions package, the European Commission did not propose targeting the trade of Russian nuclear fuel. Hungary and Bulgaria were the most vocal in opposing sanctions on Russian uranium and other nuclear tech last week, according to Rodrigo. "Russian nuclear terror requires a stronger response from the international community - sanctions on the Russian nuclear industry and nuclear fuel," Zelenskyy said via Twitter at the time. Mikhail Metzel | Afp | Getty ImagesThere are 18 Russian nuclear reactors in Europe, in countries including Finland, Slovakia, Hungary, Bulgaria and the Czech Republic. How 'green' is nuclear energy?

☆ 'Radicalised teenager' killed two outside Slovakia gay bar - PM
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

People embrace one another near the site of a shooting in Bratislava, Slovakia October 13, 2022. REUTERS/Radovan StoklasaBRATISLAVA, Oct 13 (Reuters) - A "radicalised teenager" shot dead two people outside a gay bar in Slovakia's capital Bratislava, Prime Minister Eduard Heger said. A gunman killed two people and wounded another near the Teplaren bar in the city centre on Wednesday evening, police said. "I strongly condemn a murder of two young people shot dead in Bratislava last night by a radicalised teenager," Heger wrote on Twitter. Slovak media reported the main suspect had posted messages with the phrases "hate crime" and "gay bar" hashtagged on Twitter.

☆ European power use falls, but winter targets still a stretch
▼ + stars: | 2022-10-13 | by ( Leigh Thomas | ) www.reuters.com time to read: +4 min

European countries are racing to save energy going into the winter following a collapse in Russian gas exports in response to Western sanctions. To avoid forced power outages during peak winter demand, EU energy ministers agreed at the end of September to curb electricity consumption by 10% on a voluntary basis and committed to a mandatory 5% cut during peak hours each month. With weak nuclear production as well as a dry summer limiting hydroelectric output, high power prices are weighing on power demand and likely would for some time, Morgan Stanley said. Swings in power consumption can depend on factors including unseasonably warm or cold weather and the behaviour of consumers and businesses. Power consumption data for October suggest an even bigger drop - possibly as much as 10% or more - if the trend seen in the first week is maintained through the month.

☆ Germany, 13 NATO allies aim to jointly procure air defence systems
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: 1 min

German Defence Minister Christine Lambrecht speaks at a news conference, on the day of the NATO enhanced Forward Presence German-led battle group inauguration ceremony, in Rukla, Lithuania October 8, 2022. REUTERS/Ints KalninsBRUSSELS, Oct 13 (Reuters) - Germany and 13 NATO allies on Thursday signed a letter of intent for the joint procurement of air defence systems in the category of systems such as Arrow 3 (ISRAI.UL) and Patriot (RTX.N). The signing ceremony took place at NATO's headquarters in Brussels. The participating countries are Germany, Britain, Slovakia, Norway, Latvia, Hungary, Bulgaria, Belgium, Czechia, Finland, Lithuania, the Netherlands, Romania and Slovenia. Register now for FREE unlimited access to Reuters.com RegisterReporting by Sabine Siebold, Marine StraussOur Standards: The Thomson Reuters Trust Principles.

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