Page 50 - Europe

British Airways trims more than 10,000 Heathrow flights; Gatwick ends cap

Mixed signals are emerging about travel in Europe heading into the winter season. British Airways is cutting more than 10,000 short-haul flights in and out of London's Heathrow Airport through March, while nearby Gatwick Airport is ending its limits on the number of daily flights. Major European airports have been chaotic this summer as people eager to travel after two years of COVID-19 restrictions ran up against staffing shortages, leading to long lines, baggage delays and flight cancellations. Airports like Heathrow, Amsterdam's Schiphol and Gatwick capped how many passengers could fly each day or the number of flights to ease the travel mayhem over the past few months. Gatwick said Monday that it wasn't renewing its daily flight limits, while Heathrow, Britain's largest airport, decided last week to extend its daily cap of 100,000 passengers through the end of October. Heathrow's extension led British Airways to cancel 629 round-trip short-haul flights over the next two ...

Euro slumps to two-decade lows against dollar as energy crisis bites

China's yuan weakened to a two-year low, while sterling briefly touched its weakest since March 2020.

Energy crisis deepens in Europe as high temp, drought hits power supply

From January to May, hydroelectricity production fell by nearly 40 per cent compared to the same period last year, according to Utilitalia, Italy's federation of water companies

Russian missiles rain on Ukrainian towns as war nears half-year mark

Ukraine and Russia have traded blame for the repeated shelling

Euro again below parity versus dollar; gas supply crisis weighs

China's yuan dropped to its lowest in nearly two years after the central bank cut key lending rates.

Europe gas prices jump as latest Russian cut plan stokes supply fears

European gas prices surged after Moscow's move to shut a major pipeline ramped up fears of a prolonged supply halt, leaving Germany once again guessing as to how much Russian fuel it can count on

Germany leads as Europe slides towards recession amid supply shortages

Purchasing managers' indexes due Tuesday will likely show private-sector output shrinking for a second month, adding to signs that a recession in the 19-nation euro zone is now more likely than not

US dooms Europe to hunger, cold, isolation, says Russian parliament leader

Washington has doomed Europe to hunger, cold and isolation, said Vyacheslav Volodin, Chairman of Russia's lower parliament house, the State Duma

Russia's Gazprom to shut gas pipeline to Europe for 3 days 'maintenance'

Russia's state-owned energy company Gazprom said on Friday a key pipeline conveying natural gas to Europe will shut down for three days at the end of this month to undergo routine maintenance." In a statement posted online, Gazprom said that the only operational turbine at a key compressor station along the Nord Stream 1 pipeline, which links Western Russia and Germany, will shut down for routine maintenance from August 31 to September 2. A set of routine maintenance in accordance with the current maintenance contract will be carried out jointly with Siemens specialists, the company said, in a reference to its German partner, Siemens Energy. Gazprom said that once work is completed, the flow of gas through Nord Stream 1 will resume at its prior level of 33 million cubic meters, or just 20% of the pipeline's nominal capacity. Flows of natural gas through Nord Stream 1 have been contentious. The shutdown will come a month after Gazprom restored natural gas supply through the pipeline

India, Pakistan left in a lurch as gas deliveries get redirected to Europe

With gas prices more than 150% higher since the Russian invasion in February, and wealthier nations able to pay more to ensure adequate supplies, emerging nations can't compete

Norsk Hydro shuts aluminum plant in Slovakia as Europe's power woes deepen

Aluminum is one of the most energy-intensive metals to produce, and closure of the Slovalco facility adds to growing signs of stress in Europe's industrial economy as power prices surge to record high

Germany won't back European nations' call to end Russian tourist visas

German Chancellor Olaf Scholz said that Berlin would not back several fellow European countries that have called for an EU-wide move to stop issuing tourist visas to Russian citizens

With inflation at 8.9%, Europe bond rally at risk of complacent market

With the worst yet to come in Europe, strategists say policy makers may hike more aggressively than many expect, upending a bond rally that some say has gone too far

Europe's rivers run dry as drought could be worst in over 500 years

Across Europe, drought is reducing once-mighty rivers to trickles, with potentially dramatic consequences for industry, freight, energy and food production

LNG traders absorb huge losses as supply outages hampers European store

Major energy traders are taking hundreds of millions of dollars in losses as they scramble to plug a LNG supply gap after several outages hampered efforts to fill European storage

Oil rises over $1 a barrel as Russian pipeline halt revives supply fears

Russian pipeline monopoly Transneft said Ukraine had suspended oil flows via the pipeline leg because Western sanctions had prevented a payment from Moscow for transit fees from going through.

EU regulator begins review of Pfizer-BioNTech's variant-adapted Covid shot

The so-called bivalent vaccine targets two strains of the SARS-CoV-2 virus behind COVID

At 12.4 per cent, India has twice the number of female pilots as the US

Statistics raise questions about how a nation, placed 135th among 146 countries on the World Economic Forum's ranking of nations based on gender parity, was able to reverse the trend in the industry

India's new rules for data privacy may be more like China's than Europe's

The Indian government has junked the personal data protection bill, and decided to replace it with "a comprehensive legal framework"

'Most vulnerable' emerging markets now face euro recession risk

Traders are more bearish on the Hungarian forint, Polish zloty and Czech koruna than any other developing-nation currency except for Russia's ruble and the Turkish lira