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☆ 'Once-in-a-lifetime' opportunity: Morgan Stanley's stocks to trade Europe's renewable energy boom
▼ + stars: | 2023-08-08 | by ( Lucy Handley | ) www.cnbc.com time to read: +2 min

Morgan Stanley named several stocks to play Europe's investment in renewable energy — and highlighted a "once-in-a lifetime" opportunity in the electricity sector in particular. Earlier this year, the European Union raised its renewable energy targets in the face of the energy crisis that followed Russia's invasion of Ukraine. The bank estimated the transition to green power sources will cost around 5 trillion euros ($5.5 trillion) between now and 2030. Growth opportunity "The EU and UK renewables targets imply significant growth investment opportunities for renewable developers," the bank said. Though Morgan Stanley is positive on the opportunities for renewable energy companies, it said the EU's targets would be "hard to achieve."

Persons: Morgan Stanley, Morgan, Jens Eisenschmidt, Orsted, Centrica, Michael Bloom, Sam Meredith Organizations: European Union, Grid, EU, Siemens Energy, British Gas Locations: Ukraine

☆ It’s official: Scientists confirm July was the hottest month ever recorded
▼ + stars: | 2023-08-08 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Global air and ocean temperatures soared to a record high in July, according to the EU's climate change service Copernicus, deepening concern among climate scientists at a time when a spate of heat records suggest the planet has entered uncharted territory. The EU's Copernicus Climate Change Service (C3S) said Tuesday that the global average surface air temperature in July was confirmed to be the highest on record for any month. July was found to be a whopping 1.5 degrees Celsius warmer than the average for the 1850-1900 period and 0.33 degrees Celsius warmer than the previous warmest month of July 2019. Meanwhile, global average sea surface temperatures continued to rise in July, the EU's climate monitor said, after a long period of unusually high temperatures stretching back to April. For the month as a whole, the planet's average sea surface temperature was 0.51 degrees Celsius above the 1991 to 2020 average.

Persons: Copernicus, Samantha Burgess, C3S Organizations: South Locations: Europe, North Africa, East, Asia

☆ Global ocean temperatures are now hotter than ever — with far-reaching consequences for the planet
▼ + stars: | 2023-08-07 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Joseph Prezioso | Afp | Getty ImagesThe world's ocean temperatures have climbed to their hottest level on record, according to data from the European Union's climate monitor, prompting scientists to warn of immediate and wide-ranging consequences for the planet. The surface temperature of the world's oceans would typically be expected to reach their highest in March rather than in August, sparking alarm among climate scientists. "The recent ocean warming is genuinely concerning," said Rowan Sutton, professor of climate science at the University of Reading. Sutton said that the latest sea surface temperature data showed that "we may be experiencing not just a record-breaking extreme event but a record-shattering one." The ocean heat record comes as part of a recent trend of extreme heat stretching across the globe, with this July poised to be recognized as the hottest month in history.

Persons: Joseph Prezioso, Copernicus, Rowan Sutton, Sutton Organizations: Afp, Getty, University of Reading Locations: Key West , Florida, Martin County , Florida

☆ Six dead in 'tragic' house fire in Australia's Queensland
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, Aug 6 (Reuters) - Five boys and their father were killed after fire ripped through a house in Australia's Queensland state early on Sunday, police said. These are young boys that could have become men into the future, and a man has lost his life as well," he said. Queensland Fire and Rescue said the house had collapsed due to the fire and some nearby residences were affected. Nine people were treated at the scene, with three taken to hospital, Queensland Ambulance Service said. Reporting by Sam McKeith in Sydney; Editing by Jonathan Oatis, David Gregorio and William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Mat Kelly, Kelly, Sam McKeith, Jonathan Oatis, David Gregorio, William Mallard Organizations: SYDNEY, Sunday, Queensland, Rescue, Queensland Ambulance Service, Australian Broadcasting Corporation, Investigations, Thomson Locations: Australia's Queensland, Russell, Brisbane, Redland Bay, Queensland, Sydney

Kremlin opposition leader Alexei Navalny was sentenced to 19 more years in prison after being found guilty in a Russian court on a series of charges, his team confirmed Friday. Navalny faced charges of inciting and financing "extremist activity" and "rehabilitating Nazi ideology," charges he and his supporters reject. In a social media post on Thursday, Navalny said that he expected to receive a "Stalinist" prison term. Navalny, one of Russian President Vladimir Putin's most vocal critics, was already serving two prison sentences. A nine-year prison sentence on charges of embezzlement and fraud and more than two years for a parole violation.

Persons: Alexei Navalny, Navalny, Russia's, Vladimir Putin's, Biden, Matt Miller, Miller Organizations: IK, Kremlin, Navalny Locations: Russian, Moscow, Melekhovo, Vladimir, Ukraine, Russia

☆ South American countries gripped by record-breaking heat — in the middle of winter
▼ + stars: | 2023-08-04 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

South American countries, such as Chile and Argentina, set heat records in the middle of the southern winter due to a combination of the El Niño phenomenon and climate change. An unprecedented winter heatwave is sweeping across a large chunk of South America, with temperatures forecast to exceed 40 degrees Celsius (104 Fahrenheit) in southwestern Brazil in the coming days. Scientists say the winter heat is being fueled by the climate emergency and the El Niño phenomenon. Temperatures are typically around 15 degrees Celsius in Buenos Aires at this time of year, and have not exceeded 30 degrees Celsius in winter since 2014. The southern part of the continent has suffered the worst of the winter heat in recent days, with temperatures expected to remain at abnormally high levels in early August.

Persons: Niño, Climatologist Maximiliano Herrera, " Herrera Organizations: Twitter Locations: Santiago, Chile, Argentina, South America, Brazil, Paraguay, Buenos Aires

☆ Unprecedented Canada wildfires obliterate previous annual pollution record in just seven months
▼ + stars: | 2023-08-03 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

An aerial view of wildfire of Tatkin Lake in British Columbia, Canada on July 10, 2023. The intensity of Canada's raging wildfires have generated record levels of carbon emissions, the EU's climate monitor said Thursday. Europe's Copernicus Atmosphere Monitoring Service (CAMS) found that accumulated carbon emissions from Canadian wildfires had soared to 290 megatons in just the first seven months of 2023. That is already more than double Canada's previous whole-year record and accounts for over 25% of the global total year-to-date. We support users in mitigating the impacts through monitoring the fire activity and intensity, and the emitted smoke," Parrington said.

Persons: Mark Parrington, Parrington Organizations: Monitoring Service, Northern, CAMS Locations: Lake, British Columbia, Canada, Portugal, South Korea, U.S

☆ What this week's U.S. credit rating downgrade means for your money
▼ + stars: | 2023-08-03 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

Markets hit the skids on Wednesday after Fitch Ratings downgraded its rating on U.S. debt to AA+ on Tuesday evening — one notch below the agency's highest rating of AAA. "The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management," the rating firm said in a press release. In historical context, though, this week's downgrade is less of a big deal than it seems, experts say. the rating agency dinged Uncle Sam's once perfect credit rating. "In some ways, the S&P downgrade echoes the current downgrade from Fitch," Sam Millette, fixed income strategist for the Commonwealth Financial Network, wrote in a recent note.

Persons: Fitch, Ryan Detrick, — Fitch, —, Bonds, Uncle Sam's, Jon Maier, hasn't, Sam Millette, Maier Organizations: Fitch, AAA, Nasdaq, Dow, Carson Group, Moody's, Global, Commonwealth Financial Network Locations: Washington, creditworthiness, Fitch

☆ 'Unprecedented heat': Iran begins two-day nationwide shutdown amid soaring temperatures
▼ + stars: | 2023-08-02 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

A motorcyclist has a drink from a bottle to cool off during a heat wave in Tehran on July 11, 2023. Iran on Wednesday began a two-day nationwide shutdown because of soaring temperatures, shortly after the Islamic Republic's health ministry warned of a possible increase in cases of heat exhaustion. The ministry also warned that the shutdown may need to be extended to protect people's health. Many Iranian cities and towns have suffered from temperatures above 40 degrees Celsius (104 Degrees Fahrenheit) in recent days, while the oil-rich southwestern city of Ahvaz hit 50 degrees Celsius on Tuesday. The capital city of Tehran experienced temperatures of 39 degrees Celsius on Wednesday.

Persons: Ali Bahadori Jahromi Organizations: Wednesday, Islamic Republic News Agency Locations: Tehran, Iran, Ahvaz

CNN —After the thrill of winning successive Women’s World Cup titles, the 2023 tournament – so far – has brought the US team very much down to earth with a bump. For a team that has been so historically dominant at the Women’s World Cup, performances throughout the 2023 edition so far have been underwhelming for women’s soccer’s most dynastic team. Fans of the US team get ready for the Women's World Cup group game against Portugal. 3 ranked in the world by FIFA, has plenty of World Cup history. Sweden drew with the US in 2015 and also beat them in 2011 – the last time any team defeated the USWNT inside regulation at a World Cup.

Persons: Ana Capeta’s, Vlatko Andonovski, “, Julie Foudy, Buda Mendes, Alex Morgan, ” Morgan, Thailand’s, –, Megan Rapinoe, Morgan, Andonovski, Mallory Swanson, Tobin Heath, Sam Mewis, Catarina Macario, Becky Sauerbrunn, Abby Dahlkemper, Andrew Cornaga, Trinity Rodman, Carli Lloyd, ” Lloyd, Crystal Dunn, Lloyd, ” Andonovksi, ”, Rebecca Welch, Rose Lavelle, Lavelle, Saeed Khan, Cristiano Ronaldo, Sophia Smith, we’ll, Lindsey Horan, ” Andonovski, “ We’re Organizations: CNN, TNT, US, National, Getty, Portugal, New Zealand, Canada, Tokyo, Christen Press, Vietnam, Professional, Chicago Bulls, New York Yankees, Los Angeles Lakers, Boston Celtics, Montreal Canadiens, UEFA, Leagues, ”, Sweden, FIFA Locations: Portugal, Buda, Thailand, Netherlands, Vietnam, England, New, New Zealand, Sweden, Spain, Auckland, Wellington, AFP, Real Madrid

☆ From Washington to Warsaw, a ‘greenlash’ is picking up steam despite extreme heat
▼ + stars: | 2023-08-01 | by ( Sam Meredith | ) www.cnbc.com time to read: +7 min

A pushback against climate policies is not just a U.S. issue. Reprisals over climate policies come at a time of record-breaking extreme heat across the globe, with July poised to be the hottest month in human history. Ruling party leader Jarosław Kaczyński described the bloc's green policies as "madness" and akin to "green communism." "At the moment, it looks like green parties are not doing going fantastically well. "The IRA is called an IRA, it is not called a climate act because there's no way that you could get Democrats and Republicans to agree on something called climate," Tocci said.

Persons: Henry Nicholls, Ron DeSantis, DeSantis, ESG, —, Kevin McCarthy, Drew Angerer, Nathalie Tocci, Tocci, U.N, António, Sadiq Khan's, Jarosław Kaczyński, Emmanuel Macron, Alexander De Croo, Ursula von der, Kenzo Tribouillard, Joe Biden's, Mark Rutte's, …, Jan Willem Erisman, Mateusz Morawiecki, Michal Hetmanski Organizations: Afp, Getty, Republican Gov, House, Biden, U.S, Capitol, Istituto, CNBC, Farmer, Movement, Internazionali, Belgian, Belgium's, IRA, BBB, Farmers, Anadolu Agency, Getty Images, Leiden University Locations: London, Marble, U.S, Europe, Florida, Washington ,, Italian, Poland, Ostend, European, Netherlands, The Hague, Polish, Warsaw

☆ Oil major BP posts 70% drop in second-quarter profit, raises dividend by 10%
▼ + stars: | 2023-08-01 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

LONDON — Oil major BP on Tuesday reported a nearly 70% year-on-year drop in second-quarter profits on the back of weaker fossil fuel prices, echoing a trend observed across the energy industry. The British energy major posted second-quarter underlying replacement cost profit, used as a proxy for net profit, of $2.6 billion. Analysts had expected BP to report second-quarter profit of $3.5 billion, according to estimates collated by Refinitiv. Oil majors have failed to match the bumper profits posted during the same period of last year amid weaker commodity prices. British rival Shell and French oil major TotalEnergies on Thursday reported a steep drop in second-quarter profit, while U.S.-based Exxon Mobil's second-quarter profit slumped 56% year-on-year.

Persons: Refinitiv, we've, Bernard Looney, CNBC's Organizations: Oil, BP, London, Shell, Exxon Mobil's Locations: U.S

☆ Australian aircrew identified after military helicopter crash
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, July 30 (Reuters) - Australia's army chief on Sunday released the names of four aircrew feared killed when an Australian Defence Force helicopter crashed into the ocean off the coast of Queensland. Defence Minister Richard Marles told reporters in Townsville, Queensland, a full investigation would take place into the crash. Ministerial (AUSMIN) dialogue between U.S. Secretary of State Antony Blinken and Defence Secretary Lloyd Austin and their Australian counterparts in Queensland state. "My thoughts are with the four Australians who were involved in the helicopter crash," Lloyd said in Townsville, addressing troops participating in Talisman Sabre. The joint military exercises - temporarily paused amid the search for the missing aircrew - have now resumed.

Persons: General Simon Stuart, Daniel Lyon, Maxwell Nugent, Joseph Laycock, Corporal Alexander Naggs, Stuart, Richard Marles, Antony Blinken, Lloyd Austin, Lloyd, Sam McKeith, Lincoln Organizations: SYDNEY, Sunday, Australian Defence Force, Talisman Sabre, Army's 6th Aviation, Defence, . Ministerial, Australian, Thomson Locations: Queensland, United States, Australia, Hamilton, Brisbane, Sydney, Townsville , Queensland, Townsville

☆ Julian Assange case has 'dragged on for too long', Australia's Wong says
▼ + stars: | 2023-07-29 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, July 29 (Reuters) - Australia's Foreign Minister Penny Wong said on Saturday the long-running case of imprisoned Wikileaks founder Julian Assange had gone on too long and needs to be completed. Assange, an Australian citizen being held in Britain, is battling extradition to the United States, where he is wanted on 18 charges over the release of confidential U.S. military records and diplomatic cables in 2010. At a press conference in Brisbane after an Australia-U.S. meeting, Wong said Canberra had made it clear that "Mr Assange's case has dragged for too long, and our desire that it be brought to a conclusion". "I understand that Mr Assange has filed a renewal of appeal application in the UK. Blinken confirmed that Assange's case had been raised in the bilateral talks, saying he understood the views of Australians on the sensitive issue.

Persons: Penny Wong, Julian Assange, Assange, Wong, Richard Marles, Antony Blinken, Lloyd Austin, Blinken, Mr Assange, Anthony Albanese, Sam McKeith, William Mallard Organizations: SYDNEY, Australia's, Defence, ., Thomson Locations: Britain, United States, Brisbane, Australia, Canberra, U.S, Sydney

☆ US to help Australia develop guided missiles by 2025
▼ + stars: | 2023-07-29 | by ( ) www.reuters.com time to read: +3 min

SYDNEY, July 29 (Reuters) - The U.S. will help Australia produce guided multiple-launch rocket systems by 2025, Defense Secretary Lloyd Austin said on Saturday, after the two nations' top officials pledged to engage with China but also oppose it if needed. Austin and Secretary of State Antony Blinken are in Queensland state for the annual Australia-U.S. "We are pursuing several mutually beneficial initiatives with Australia's defence industry, and these include a commitment to help Australia produce guided multiple launch rocket systems... by 2025," Austin told a press conference. U.S Secretary of State Blinken said "chief" among Saturday's high-profile talks with Australia was a shared commitment to a free and secure Indo-Pacific region. The games, however, were put on hold after an Australian military helicopter participating in the exercises crashed into the ocean, with at least four people onboard feared dead.

Persons: Lloyd Austin, Antony Blinken, Austin, Richard Marles, Marles, Blinken, Praveen Menon, Sam McKeith, William Mallard Organizations: SYDNEY, Austin, . Ministerial, Australian, Labor, U.S, Australia, Talisman Sabre, Thomson Locations: U.S, Australia, China, Queensland, Taiwan, Australian, Ukraine, Russia, Beijing

☆ Helicopter crash puts key Australia-US war games on hold
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, July 29 (Reuters) - Joint military exercises between Australia and the United States were paused on Saturday after an Australian Defence Force (ADF) helicopter involved in the war games crashed into the ocean off the coast of Queensland state. Director of the Talisman Sabre military exercises, Brigadier Damian Hill, said they had been put on hold following the crash. Talisman Sabre comprises two weeks of war games involving more than 30,000 troops and participants from 11 other countries, in a show of force and unity amid China's military build-up in the region. The exercises are taking place in various locations across Australia and include mock land and air combat, as well as amphibious landings. Reporting by Praveen Menon and Sam McKeith; Editing by Sandra Maler and Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

Persons: Richard Marles, Damian Hill, I've, Talisman, Hill, Praveen Menon, Sam McKeith, Sandra Maler Organizations: SYDNEY, Australian Defence Force, ADF, Defence, Talisman Sabre, Sabre, Thomson Locations: Australia, United States, Queensland, Hamilton, Brisbane, Lincoln

An influential oil producers' alliance could collapse if unity dissolves around output policy, according to the managing partner of investing group Clean Energy Transition. The breakup of OPEC+, Lekander said, could send oil prices careening to as low as $35 per barrel. Oil prices, which are down sharply year-to-date, were trading slightly higher on Thursday afternoon. The OPEC+ group has sought to distance itself from accusations of cartel behavior, saying its policies target global supply inventories, rather than specific fixed prices. Nevertheless, some Middle East nations in the coalition, which heavily depend on fossil fuel revenues, list oil price assumptions and forecasts in their national budget plans.

Persons: Per Lekander, Lekander Organizations: OPEC, Brent, U.S, West Texas Locations: OPEC

☆ Oil giant Shell posts sharp drop in second-quarter profit on weaker commodity prices
▼ + stars: | 2023-07-27 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Picture Alliance | Picture Alliance | Getty Imageswatch nowShares of the London-listed oil major slipped 2% on Thursday morning. 'Softening oil and gas environment'French oil major TotalEnergies also reported weaker-than-expected earnings on Thursday, posting second-quarter adjusted net income of $5 billion. TotalEnergies CEO Patrick Pouyanne said the firm's "robust" earnings came during a "favorable but softening oil and gas environment." Norwegian oil and gas giant Equinor had on Wednesday reported a 57% decline in year-on-year second-quarter profit as oil and gas prices slipped from last year's high levels. Oil and gas prices were under pressure in the first half of the year, however, as global economic jitters outweighed supply-demand fundamentals.

Persons: downgrades, Stuart Lamont, Patrick Pouyanne Organizations: Getty, RBC Brewin, Shell, BP, Exxon Mobil, Chevron Locations: London, Ukraine, U.S

A critical system of ocean currents could collapse much sooner than expected as a result of the deepening climate emergency, according to the findings of a new study, potentially wreaking havoc across the globe. The AMOC acts like a conveyor belt of currents carrying warm waters from north to south and back in a long and relatively slow cycle within the Atlantic Ocean. The circulation also carries nutrients necessary to sustain ocean life. For one, the NOAA says England would have a "much colder climate" if not for the warm waters of the Gulf Stream. The projected collapse of the AMOC is seen as a "major concern" because it is recognized as one of the most important tipping elements in the Earth's climate system.

Organizations: Nature Communications, National Oceanic, Atmospheric Administration, NOAA Locations: Europe, Florida, England

☆ Extreme summer heat in the U.S. and Europe ‘virtually impossible’ without climate change
▼ + stars: | 2023-07-25 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

More than 50 million Americans are set to bake under dangerously high temperatures this week, from California to Texas to Florida, as a heat wave builds across the southern United States. The heat waves stretching across North America and Europe this month would have been "virtually impossible" without the human-induced climate emergency, according to a new scientific study. Published Tuesday by the World Weather Attribution group, the study said heat waves are among the deadliest natural hazards with thousands of people dying from heat-related causes each year. Ever-increasing greenhouse gas emissions mean these events are not rare anymore, the study said. "Totally unsurprising but important result," Friederike Otto, a scientist and senior lecturer at the Grantham Institute for Climate Change in London, who contributed to the research, said via Twitter.

Persons: Rai Rogers, —, Friederike Otto Organizations: Grantham Institute, Twitter Locations: Las Vegas , Nevada, California, Texas, Florida, United States, North America, Europe, China, U.S, Mexico, London

☆ Extreme heat in Europe is becoming the new normal — prompting tourists toward cooler destinations
▼ + stars: | 2023-07-24 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Tourists are evacuated as huge wildfire rages across Greece's Rhodes island on July 22, 2023. Sweltering conditions across southern Europe could accelerate a burgeoning trend among holidaymakers, as more tourists prioritize milder temperatures or off-season travel to avoid spending their time away in oppressive heat. Europe is currently experiencing some of the hottest temperatures of the summer so far, with yet another heatwave expected to push the mercury close to record-breaking levels in the coming days. The southern European country was followed closely by France (7%), Italy (7%), Greece (5%) and Croatia (5%). The popularity of Mediterranean vacation destinations, however, dropped by 10% compared to last year, when Europe experienced its hottest summer on record.

Organizations: European Travel Commission, ETC Locations: Greece's Rhodes, Europe, Greece, Spain, Sardinia, Sicily, Italy, Brussels, France, Croatia

☆ USS Canberra personnel parade in Australia capital amid joint war games
▼ + stars: | 2023-07-23 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, July 23 (Reuters) - United States Navy personnel from a newly commissioned U.S. combat ship paraded through Australia's capital on Sunday, as the two allies carry out war games amid China's military build-up in the region. "It's such an honour and a privilege to be able to do this," Captain of the USS Canberra Blue Crew, Will Ashley, told ABC television. "It's a culmination of not just the ship naming, of honouring the city, but the previous HMAS Canberra that was lost in World War Two." The Australian Capital Territory "Freedom of Entry" parade came after a commissioning ceremony for the USS Canberra on Saturday at an Australian naval base on Sydney Harbour. Under the AUKUS project announced in March, the United States and Britain have agreed to help Australia acquire a fleet of nuclear-powered submarines.

Persons: Will Ashley, Sam McKeith, Stefica Nicol, William Mallard Organizations: SYDNEY, United States Navy, Independence, Royal Australian Navy, U.S, Marine, USS Canberra Blue, ABC, Australian Capital Territory, USS Canberra, Talisman Sabre, Australia, Stefica Nicol Bikes, Thomson Locations: U.S, Guadalcanal, Canberra, Sydney Harbour, Australia, China, United States, Britain, Sydney

☆ USS Canberra: US commissions first Navy warship in foreign port
▼ + stars: | 2023-07-22 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, July 22 (Reuters) - The United States commissioned a warship in Sydney, Australia, on Saturday, the first time a U.S. Navy vessel joined active service at a foreign port, as the two close allies step up their military ties in response to China's expanding regional reach. "Australians can be proud that this ship, designed in Western Australia by local industry and named after HMAS Canberra, is being commissioned here for the first time in the history of the United States Navy," Australian Defence Minister Marles said in a statement. The commissioning of the U.S. ship in Australian waters reflected "our shared commitment to upholding the rules-based order", he added. Under the AUKUS project announced in March, the United States and Britain have agreed to help Australia acquire a fleet of nuclear-powered submarines. Before that, in the early 2030s, the United States is supposed to sell Australia three U.S. Virginia class nuclear-powered submarines, with an option for Australia to buy two more.

Persons: Marles, Sam McKeith, Stephen Coates Organizations: SYDNEY, United, U.S . Navy, Royal Australian Navy, U.S, Marine, Sydney Harbour, United States Navy, Australian Defence, Talisman Sabre, Australia, ., Thomson Locations: United States, Sydney, Australia, U.S, Western Australia, China, Canada, Fiji, France, Germany, Indonesia, Japan, New Zealand, Papua New Guinea, Republic of Korea, Tonga, Britain, . Virginia

☆ Europe braces for yet another heatwave as Greek PM warns 'hard times are clearly not over yet'
▼ + stars: | 2023-07-21 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Atop the Acropolis ancient hill, tourists visit the Parthenon temple during a heat wave on July 20, 2023 in Athens, Greece. The Acropolis of Athens and other archaeological sites in Greece announced reduced opening hours due to the heatwave conditions. Europe is set for another heatwave in the coming days, pushing temperatures back toward record levels as an oppressive "heat dome" expands over the southern half of the continent. Scientists say the recent spate of heat records reaffirms the increasing urgency to slash greenhouse gas emissions as quickly and as deeply as possible. A heat dome occurs when a high-pressure circulation in the atmosphere acts likes a lid or a cap, trapping hot air in place and creating vast areas of sweltering heat.

Persons: heatwaves Organizations: European Centre Locations: Athens, Greece, Europe, U.S, China, Spain, Sardinia, Sicily, Italy

☆ Wheat prices soar for a third day as Russia-Ukraine tensions stoke fears of major food crisis
▼ + stars: | 2023-07-20 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Known as the world's "bread basket," Ukraine grows far more wheat than it consumes and it's exports contribute to global food security, especially in African countries, which now fear food shortages. Wheat prices rose on Thursday after Russia threatened to treat ships heading for Ukrainian ports as military cargo carriers, deepening fears of a global food security crisis. It follows a jump of 8.5% in the previous session, the biggest daily gain in more than a year, on mounting geopolitical tensions. Wheat prices remain well below the peak levels of 1,177.5 cents per bushel reached in May of last year, however. European Union foreign policy chief Josep Borrell said Thursday that Russia's decision to pull out of the pact would imperil global food security.

Persons: António Guterres, Josep Borrell, Borrell Organizations: Chicago Board of Trade, Initiative, Union Locations: Ukraine, Russia, EU

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