Tech News

Austria must continue to cut Russian gas reliance: OMV CEO

Austria has cut its dependence on Russian gas but it must keep up efforts to diversify its supplies for the next cold season, the head of Austrian energy group OMV told AFP. Europe has sought to reduce its reliance on Russian oil and gas since Moscow invaded Ukraine.. "I think we can be more confident for this winter, for this season, than we were maybe six months ago," OMV CEO Alfred Stern told AFP on Friday in his modern office with a view over Vienna.

Fri, Dec 2, 2022 2 mins read

Tech News

Biden signs emergency law forcing rail unions to accept wages deal

US President Joe Biden signed into law Friday a rare intervention by Congress forcing freight rail unions to accept a salary deal, avoiding a possibly devastating strike -- but putting the pro-union Democrat in an awkward political position.. The episode is awkward politically for Biden who frequently touts his pro-union credentials.

Fri, Dec 2, 2022 1 mins read

Tech News

European gas pipe dreams become reality in eastern France

Underneath the lush countryside in eastern France lie the pipelines expected to rescue Europe before a winter without Russian gas.. Once viewed as the "cul-de-sac" for Russian gas, France has now become one of the entryways for gas to the rest of Europe.

Fri, Dec 2, 2022 2 mins read

Tech News

US hiring tops expectations in November as wages pick up

US job gains were unexpectedly robust in November despite efforts to cool the economy, while unemployment held steady and wages ticked up, the government reported Friday.. The report also said there were notable job gains in leisure and hospitality, health care, as well as in government.

Fri, Dec 2, 2022 2 mins read

Tech News

Energy crisis driving climate-friendly power savings: IEA

Russia's invasion of Ukraine has driven countries across the world to boost energy efficiency, creating "huge potential" to tackle high prices, security and climate change, the IEA said on Friday.. "Energy efficiency is essential for dealing with today's crisis, with its huge potential to help tackle the challenges of energy affordability, energy security and climate change."

Fri, Dec 2, 2022 2 mins read

Tech News

UK ex-finance minister joins exodus of Tory MPs

Britain's former finance minister Sajid Javid on Friday said he would not be standing at the next election, as the Conservative party faces a slump in support after 12 years in power.. The Conservative party has given its MPs until December 5 to declare whether they will run in the next election, when many constituency maps will be redrawn.

Fri, Dec 2, 2022 2 mins read

Tech News

EU cap on Russian oil price on hold as Poland urges lower price

The West's plan to starve Russia of resources to fight its war in Ukraine by imposing a price cap on its oil exports hit a diplomatic logjam in Brussels on Friday.. Moscow has previously warned that it will not export oil to countries respecting a price cap.

Fri, Dec 2, 2022 3 mins read

Tech News

Musk's free speech absolutism 'a fantasy'

The limits of Elon Musk's self-professed "free speech absolutism" were laid bare, critics said, when he banned rapper Kanye West from Twitter over his latest anti-Semitic outburst on Thursday.. But Musk's claim to be a free speech absolutist was always going to struggle to survive the clash with reality -- and particularly the clash with West (officially known as Ye), who has mounted an increasingly vociferous campaign of anti-Semitic outbursts in recent weeks. 

Fri, Dec 2, 2022 2 mins read

Tech News

OPEC set to stick or cut more amid plan to cap Russian oil price

Major oil producers are expected to stick to their current output strategy or even slash production further when they meet on Sunday in the face of falling prices, a potential Russian oil price cap and an embargo on Russian crude shipments.. Amid fears of economic slowdown, Sunday's the cartel's meeting via videoconference convenes ahead of the EU enforcing an embargo on Russian crude shipments from Monday.

Fri, Dec 2, 2022 2 mins read

Tech News

Switzerland fines engineering giant $4.3 mn over S.Africa bribery

Swedish-Swiss engineering giant ABB has been fined four million Swiss francs ($4.3 million) over bribery linked to the construction of a huge power plant in South Africa, Switzerland announced on Friday.. As a result, it said ABB had been slapped with a fine of four million Swiss francs and ordered the group to pay 50,000 Swiss francs for the cost of proceedings.

Fri, Dec 2, 2022 1 mins read