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People and businesses across Europe are increasing their use of such smart thermometers to keep an eye on how much gas they are using. In the winter of 2021-22, the proportion of homes with heating switched on across Europe passed 90% on November 28. The European Union imports 80% of its gas and gas represents 22% of Europe's energy consumption and meets 32% of households' energy needs, according to the EU. "Some 79% of energy consumption in a private home is heating and hot water," said Tado's Managing Director Christian Deilmann. It is still too early to tell from Tado's data whether households' energy discipline is slackening.

☆ Germany's gas situation is secure this winter, regulator says
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

[1/2] The landfall facilities of the 'Nord Stream 1' gas pipeline are pictured in Lubmin, Germany, March 8, 2022. REUTERS/Hannibal HanschkeBERLIN, Jan 17 (Reuters) - Germany's gas supply situation is secure and gas shortage is unlikely to happen this winter, the head of the country's network regulator said on Tuesday. "With savings, gas inflows, good storage levels ... We are very, very optimistic that we will no longer have to worry about a gas shortage this winter," Klaus Mueller said at an energy summit organised by Handelsblatt newspaper. Mueller said he expected a relatively warm winter which will help the power supply situation in both France and Germany. Reporting by Riham Alkousaa, Christoph Steitz and Vera Eckert Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

☆ Uniper CEO: Nord Stream can be fixed, but unclear if Germany wants Russian gas
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

Companies Uniper SE FollowGazprom PAO FollowFRANKFURT, Jan 17 (Reuters) - The damaged Nord Stream pipelines can be fixed in around six months to a year, the boss of bailed out German gas trader Uniper said on Tuesday, adding that it still remained unclear whether Germany wants the supply relationship to continue. "The first question that needs answering: what's the political will on a European level and in Berlin to bring Russian gas to Germany?" outgoing Uniper (UN01.DE) CEO Klaus-Dieter Maubach told the annual Handelsblatt Energy summit. Reporting by Christoph Steitz and Vera Eckert; editing by Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Elon Musk questioned why Davos is 'even a thing,' and jokingly compared the annual meeting of the global elite to online forum 4Chan
▼ + stars: | 2023-01-17 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Elon Musk doesn't seem to like Davos very much at all. Musk this week questioned how the World Economic Forum is 'even a thing' and compared it to 4Chan. He said in December he wouldn't be attending the annual meeting because it "sounded boring." Sign up for our newsletter for the latest tech news and scoops — delivered daily to your inbox. He further insulted the forum on Monday and compared it to online message board 4Chan, which is well known for spawning baseless conspiracy theories.

☆ Davos 2023: The World Economic Forum explained
▼ + stars: | 2023-01-16 | by ( Siddharth K | ) www.reuters.com time to read: +4 min

DAVOS, Switzerland, Jan 16 (Reuters) - The World Economic Forum (WEF) returns to its snowy winter residency in the Swiss Alps this week with a record attendance of business and government leaders. The WEF's roots stretch back to 1971 when its founder Klaus Schwab invited executives from European companies to the then tiny ski resort of Davos, high in the Swiss Alps. With climate change top of the agenda, chiefs of major energy companies are back after a COVID-related hiatus. Others include IMF Managing Director Kristalina Georgieva, European Central Bank chief Christine Lagarde, NATO General Secretary Jens Stoltenberg, President of the European Commission Ursula von der Leyen and Chinese Vice-Premier Liu He. Climate change topped the WEF's survey of global risk and energy company executives will mix with climate activists and environment ministers at the forum.

☆ Wintershall Dea urges Germany to clear CO2 exports for storage
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Jan 16 (Reuters) - German oil and gas producer Wintershall Dea (WINT.UL) (BASFn.DE) urged Berlin on Monday to clear exports of carbon dioxide to European neighbours that would be buried in so-called carbon capture and storage facilities (CCS). Wintershall is involved in various CCS projects, including in Norway and Denmark, which aim to store CO2 in depleted oil and gas fields. The early capture of CO2 emissions in the production process and their subsequent storage could help achieve climate targets and provide a new area of activity for hydrocarbon exploration companies. Unavoidable residual emissions in Germany currently amount to well over 40 million tonnes per year from industries such as chemicals and cement, Langemann said. Wintershall Dea plans to build up a business capturing 20-30 million tonnes of CO2 per annum by 2040.

☆ The Davos party returns, with the shakes
▼ + stars: | 2023-01-16 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +4 min

DAVOS, Switzerland, Jan 16 (Reuters Breakingviews) - There’s a hangover happening in Davos even though the party hasn’t yet started. The World Economic Forum’s annual winter shindig in the Swiss mountain resort, which kicks off on Monday, marks a return for glitzy parties and high-minded debates following a three-year hiatus. A record number of business leaders are set to make the trip, and the passage of commercial, private and government aircraft through Zurich’s airport suggests overall attendees are at pre-Covid-19 levels. The global pandemic and Russia’s invasion of Ukraine have added more friction to the already creaking globalised world that Davos epitomised. Follow @thereallsl on TwitterloadingCONTEXT NEWSThe World Economic Forum will take place in Davos, Switzerland from Jan. 16 through Jan. 20.

People communicate with each other at the Congress Center for the World Economic Forum WEF Annual Meeting 2023 in Davos, Switzerland, Jan. 15, 2023. DAVOS, Switzerland – U.S. lawmakers quietly took part in a private ritzy lunch atop the World Economic Forum on Monday featuring dozens of influential business leaders, according to people with direct knowledge of the matter. Joe Manchin, D-W.Va., Chris Coons, D-Del., Kyrsten Sinema, I-Ariz. and a few members of the House of Representatives, these people explained. Coons, Manchin, Sinema and Kemp are among the U.S.-based officials scheduled to participate in panel sessions at this year's conference. These private events on the sidelines of the World Economic Forum often serve as meet-and-greets between CEOs, billionaires and government officials.

☆ Davos draws record crowds, but its relevance is fading
▼ + stars: | 2023-01-16 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

Data from the World Bank shows that global trade of goods and services as a percentage of total economic output peaked that year. A wooden sign on the waterfront of Lake Davos in Davos, Switzerland, on Jan. 8, 2023. Just look to Italy’s new prime minister, Giorgia Meloni, who was installed in October. Those skipping the gathering this year include US President Joe Biden, China’s Xi Jinping, Indian Prime Minister Narendra Modi, French President Emmanuel Macron and UK Prime Minister Rishi Sunak. That raises questions about whether Davos can hang on to its reputation an essential event for the rich and powerful.

☆ Mercedes-Benz's new electric micro camper van RV is coming this year — see the concept vehicle
▼ + stars: | 2023-01-15 | by ( Brittany Chang | ) www.businessinsider.com time to read: 1 min

"The future is electric regardless of the size or purpose of a van," Klaus Rehkugler, Mercedes-Benz Van's head of sales and marketing, said in the press release, echoing his statement from last year's EQV unveil. Source: Insider

☆ A Q&A With Klaus Schwab, the Founder of the World Economic Forum
▼ + stars: | 2023-01-13 | by ( ) www.wsj.com time to read: 1 min

The past year brought war in Europe, surging inflation and an energy crisis, all while the world is still fighting the Covid-19 pandemic and related disruptions. Company executives are evaluating global supply chains and considering what they could make closer to home. The Wall Street Journal’s editor in chief, Matt Murray, and Journal reporter Thomas Gryta sat down with World Economic Forum founder Klaus Schwab in November as he prepared for his 53rd annual confab in Davos, Switzerland this month. Mr. Schwab, age 84, launched the WEF as a young academic in 1971, but it is now an independent international organization under the Swiss government, similar to the Red Cross. Edited excerpts of the conversation follow.

☆ As U.S. unemployment improved, it worsened for Latinos and Black women
▼ + stars: | 2023-01-13 | by ( Rikki Klaus | ) edition.cnn.com time to read: +3 min

Not everyone is celebrating, however: Jobless rates for Black women and Latino men still haven’t recovered fully from the pandemic. The unemployment rate for Black women aged 20 years and older rose to 5.5% in December, from 5.2% in November, according to the Bureau of Labor Statistics. For Latino men, unemployment rose 0.4 percentage points to 4% last month, higher than the 3.1% unemployment rate in February 2020. The Fed effectThe government’s current response to inflation may also be playing a role in rising unemployment for Latino men and Black women, Bahn said. In April 2020, the Hispanic unemployment rate shot up to 18.1% after hovering at around 4% pre-pandemic, BLS data shows.

☆ Head of Battered German Utility Uniper to Resign After Nationalization
▼ + stars: | 2023-01-10 | by ( Georgi Kantchev | ) www.wsj.com time to read: 1 min

BERLIN—The chief executive of German utility Uniper SE plans to resign this year after the company, hit hard by Russia’s decision to halt most of its natural-gas exports to Europe, was nationalized by the government. Klaus-Dieter Maubach , who was appointed to the position in 2021, will exercise a special right of termination due to the change of ownership, the company said Tuesday. Uniper’s Chief Operating Officer David Bryson will also depart, using the same right. Both will continue in their roles until suitable replacements have been found, the company said.

☆ Uniper CEO to resign due to government takeover
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 10 (Reuters) - Uniper (UN01.DE) Chief Executive Klaus-Dieter Maubach plans to resign this year due to the nationalisation of the embattled utility by the German government, the firm said in a statement on Tuesday. They will both continue performing their duties until suitable replacements have been appointed, it said, adding that the supervisory board has already begun the succession process. Tuesday's announcement hardly comes as a surprise, following the reshuffling of the supervisory board last year with the departure of representatives from former majority shareholder Fortum. "The Uniper Supervisory Board is already working full steam to put the new Management Board team in place, and we are very confident we will be able to announce more about the replacements soon," said supervisory board chairman Tom Blades. The Berlin government in December completed a 34.5 billion euro ($36.55 billion) bailout of Uniper, following European Commission approval, a nationalisation made necessary because of Uniper's exposure to surging gas prices following Russia's invasion of Ukraine.

☆ German regulator identifies 5,000 km to aid green power switch
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

The natural regulator, the Bundesnetzagentur has planning authority over a total of 7,300 km of grid. It reports to the economy ministry, which shares the goal of increasing the use of renewable energy and distributing wind energy, concentrated in Germany's north, and solar energy from the south. "The renewable energy generated in the north of the country must be transported," Klaus Mueller, the authority's president, said in a statement. Germany plans a total 14,000 km of high voltage grids, responsibility for which would be shared between the central regulator and state level authorities in co-operation with four transmission grid companies (TSOs). Since the Green Party gained prominence as part of the coalition government installed in late 2021, Berlin has accelerated planning and approval procedures to ease the take-up of renewable power.

☆ Around 40% of German companies expect output decline in 2023 - IW institute
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 9 (Reuters) - Four out of ten German companies expect business to shrink in 2023, a survey by the German Economic Institute (IW) showed on Monday, blaming high energy costs, supply chain issues and the continuing war in Ukraine. However, they remain at a high level and production disruptions cannot be ruled out," the IW said in the survey seen by Reuters. The survey of around 2,500 companies showed that around a third of companies expect output to stagnate and the remaining quarter predict business will grow. The outlook is particularly bleak in the German construction sector, where more than half of companies surveyed by IW expect a decline in production and just 15% anticipate more business. The picture is barely brighter in industry, where 39% of surveyed companies forecast a decline, driven by a cautious assessment in the consumer and basic industries.

☆ Fact Check-Image of Ukraine’s Zelenskiy and Klaus Schwab dates to WEF 2020 conference in Davos
▼ + stars: | 2023-01-05 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

An image of Ukrainian President Volodymyr Zelenskiy in a suit on stage with the Executive Chairman of the World Economic Forum (WEF), Klaus Schwab, was taken in January 2020 and pre-dates Russia’s invasion of Ukraine in February 2022. Does this even need a comment?” (here)Users shared a screenshot of the above tweet on Facebook, with examples viewable (here), (here). The image pre-dates the Russian invasion, however, and was captured during Zelenskiy’s conversation with Schwab at the WEF annual conference in Davos, Switzerland in January 2020 (here), (bit.ly/3CqApJx). Zelenskiy previously met his U.S. counterpart at the White House in September 2021, prior to Russia’s invasion of Ukraine, where he wore a suit (here). The image dates to January 2020 and was captured during an address at the WEF annual conference in Davos conference, Switzerland.

The downside is that will increase carbon emissions and for the longer term, the firm is considering a switch to hydrogen, which is a much cleaner energy source provided it is produced using renewable power. "We want to be one of the first large companies in Bavaria to switch to hydrogen," Craig Barker, managing director of the 87-year-old firm, told Reuters. It also announced an action plan to support small and medium-sized companies as they switch to climate-neutral production, including expanding hydrogen infrastructure. More is required to accelerate investments in hydrogen, including a Hydrogen Act to cut bureaucracy and regulate the hydrogen ramp-up quickly, utility industry association BDEW said earlier this month. "2023 must provide new impetus for investments in renewable energies, hydrogen, hydrogen-capable gas-fired power plants and energy networks," BDEW president Kerstin Andreae said.

☆ Fact Check-World Economic Forum did not declare ‘God is dead’ or that humans would become gods
▼ + stars: | 2022-12-23 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

Social media posts have claimed without evidence that leaders of the World Economic Forum (WEF) have said “God is dead” and that they will turn humans into gods. In the video, a woman claims Klaus Schwab, leader of the WEF, said “God is dead” and that “WEF leaders have acquired divine powers to rule over humanity” (here), (here). We are really acquiring divine powers of creation and destruction. A Google search for “Klaus Schwab” and “God is dead” did not result in any reports from credible news sources of similar statements by Schwab. The WEF did not state that “God is dead” or that the organization would turn humans into gods.

☆ China is reopening after zero-Covid. But there's a long road ahead
▼ + stars: | 2022-12-23 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

In major cities Shanghai and Shenzhen, Friday morning rush hour traffic was extremely light, according to Baidu data. Subway ridership in major cities as of Thursday remained well below the normal range, according to Wind Information. "It will be the first time in nearly three years that mass migration will resume in China as families congregate." As for foreign direct investment into China, Hart said he expected it would take about a year after travel fully reopens for such investment to start recovering. Hainan hotel bookings last week rose by 20% from the prior week, Trip.com said.

☆ Uniper CEO: complete repayment of billions in state aid 'ambitious'
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

Companies Uniper SE FollowBERLIN, Dec 23 (Reuters) - Uniper (UN01.DE) Chief Executive Klaus-Dieter Maubach is sceptical that the embattled German utility will be able to repay billions of euros in state aid in full, according to the Frankfurter Allgemeine Sonntagszeitung newspaper. This would be "a very ambitious goal," Maubach told the paper in comments set to be published on Sunday. He said that since the beginning of December, daily losses have been close to 70 million euros ($74 million), with the last few days coming in slightly below that figure. Germany completed the nationalization of Uniper earlier this week after the European Commission approved a 34.5 billion euro recapitalisation plan and Uniper shareholders also gave the green light. ($1 = 0.9432 euros)Reporting by Anneli Palmen Writing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Russia's Gazprom (GAZP.MM) was once Uniper's biggest supplier of gas, but a big drop in deliveries after Moscow's invasion of Ukraine forced the German gas importer to buy gas elsewhere at much higher prices to honour its contracts. Uniper's investors voted in favour of the two main measures at Monday's meeting, an 8 billion euro capital injection by the German state and allowing a further injection of up to 25 billion euros by Berlin. Maubach said Uniper currently had access to around 2.5 billion euros of funds. As part of the bailout, the German government will end up owning just below 99% of Uniper, Germany's largest gas trader, following two share issues. The loss of Russian gas, Moscow's retaliation for Western sanctions over its invasion of Ukraine, triggered a 40 billion euro net loss for the importer, which provides around a third of Germany's gas, the largest loss in German corporate history.

☆ Uniper boss tells investors to back German bailout or risk all
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT/BERLIN, Dec 19 (Reuters) - Germany's Uniper (UN01.DE) called on shareholders to approve a bailout and nationalisation that will cost the government more than 50 billion euros ($53 billion), warning that it will otherwise have to consider filing for insolvency. Gazprom (GAZP.MM) was once its biggest supplier, but a big drop in deliveries after Russia's invasion of Ukraine forced Uniper to buy gas elsewhere at much higher prices to meet its contracts. "In the Management Board's view, a possible insolvency could lead to a complete loss for shareholders." If the bailout is approved, the German government will end up owning just below 99% of Uniper, Germany's largest gas trader, following two share issues. Germany's Finance Ministry will be responsible for the stake, Uniper said on Monday.

☆ The Year in Pictures 2022
▼ + stars: | 2022-12-19 | by ( The New York Times | ) www.nytimes.com time to read: +57 min

Every year, starting in early fall, photo editors at The New York Times begin sifting through the year’s work in an effort to pick out the most startling, most moving, most memorable pictures. But 2022 undoubtedly belongs to the war in Ukraine, a conflict now settling into a worryingly predictable rhythm. Erin Schaff/The New York Times “When you’re standing on the ground, you can’t visualize the scope of the destruction. Jim Huylebroek for The New York Times Kyiv, Ukraine, Feb. 25. We see the same images over and over, and it’s really hard to make anything different.” Kyiv, Ukraine, Feb 26.

☆ Back bailout or risk losing it all, Uniper boss tells shareholders
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: +1 min

Companies Uniper SE FollowBERLIN, Dec 18 (Reuters) - The CEO of Uniper (UN01.DE) has asked shareholders to approve a planned bailout by Berlin that will cost more than 50 billion euros ($52.91 billion), warning that the stricken German gas trader will otherwise have to consider filing for insolvency. Gazprom was once its biggest supplier, but a big drop in deliveries after the Russia's invasion of Ukraine forced Uniper to buy gas elsewhere at much higher prices to meet existing contracts. "(The measures) are indispensable for this company’s future," Maubach is expected to say in a speech at Monday's shareholder meeting, the text of which was published on Uniper's website on Sunday. "If approval is not granted, we would have to review very critically the so-called going concern forecast for our company," he added. "In the Management Board’s view, a possible insolvency could lead to a complete loss for shareholders."

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