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Meloni warns EU's green policies could lead to 'industrial desertification.
Giorgia Mello, the Italian prime minister, warned on Saturday against rigid green policies that could destroy Europe's industrial base. She called for a more conservative approach to ecological transition in order to protect economic and social stability. Meloni, after a meeting with German Chancellor Friedrich Merz said that the European Union’s push for electrification in particular the automotive sector could undermine the manufacturing strength of the continent. Meloni, a reporter in Rome, said: "I've often said that there is no green in a desert." "Before we do anything else, it is important to fight desertification in the European industry." She stated that alternative fuels, such as hydrogen and biofuels, must play a key role in Europe's eco-strategy. Meloni criticized the EU's previous regulatory approach, saying that it was too rigid and had "crushed", sectors such as the automotive industry. She expressed concern about Europe's dependence on non-European electric vehicle supply chain dominance, calling it a strategic weakness. She said: "I still believe that it is counterproductive to concentrate solely on electric transition where supply chains are not under the control of Europe but other actors." Meloni called on the European Commission (EC) to revise key aspects of so-called Green Deal. This includes new emission calculations that take into account the entire vehicle production cycle, and not just the tailpipe emissions. The European Parliament voted earlier this month to relax rules for European automakers. This means they won't have to meet EU CO2 emission targets for cars and trucks that could have resulted in fines up to 17 billion euros (15 billion euros). After heavy lobbying by automakers, the European Commission has proposed that they meet their targets using the average emissions for the period of 2025-2027 rather than this year. Meloni added that bilateral cooperation in the automotive industry could have a significant impact. (Reporting and editing by Crispian B. Balmer)
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At least 21 people have died in Kentucky and Missouri as a result of severe storms
Officials said that at least 21 people died overnight in Kentucky and Missouri as a volatile weather pattern spawned a tornadoes across the Midwest and Great Lakes of the United States. Andy Beshear, Governor of Kentucky, stated that at least 14 people had been killed in Kentucky and that the death toll would likely rise. He declared an emergency in his own state earlier, just as Missouri Governor Mike Kehoe did. Beshear posted on social media that "we lost at least fourteen of our people last night" but the number will likely increase as more information is received. At least nine deaths occurred in Laurel County about 150 miles south of Louisville where a tornado struck late Friday night, said Sheriff John Root on social media. He called it "a mass casualty incident." He said there were many severe injuries and that a search was underway for survivors. Social media images showed the destruction caused by the tornado in Laurel County. Entire blocks of houses were reduced to splinters and cars, pickup trucks, and other vehicles were battered and crushed. A reported twister in Union County, 250 miles west of Laurel County and near the Illinois border, leveled homes in Morganfield. However, there were no reports of immediate casualties. A TORNADO HITS ST. LOUIS Cara Spencer, the mayor of St. Louis said that a tornado had ripped through St. Louis earlier, causing at least five deaths, 38 injuries and 5,000 property damages as it tore roofs off. The tornado also knocked out power lines, and it swept through rush hour traffic in a major thoroughfare on Friday. Officials report that two other people were also killed in Scott County in southeast Missouri. Spencer, who became mayor one month ago, said to reporters Friday night that "our city is in mourning." The loss of lives and destruction are truly, truly horrific. Joan Miller, a resident of St. Louis, recounted the narrow escape she had when a tornado hit her brick home. She said, "The tree in front of me was shaking violently because the wind began." "Suddenly, all the doors closed and the windows flew from the bedroom. The entire back of my home... now you can see into the alley." National Weather Service reported widespread thunderstorms across parts of the Mississippi Valley, Tennessee Valley and Ohio Valley on Friday. At least half-a-dozen tornadoes have touched down in Missouri, Illinois and the surrounding area. Other severe weather has reached the Atlantic Coast and another tornado was reported in New Jersey. U.S. Homeland Security Secretary KristiNoem told reporters that she spoke with the governors in Missouri, Kentucky, and Illinois about offering federal resources to assist their states with the aftermath. She wrote on Twitter: "We discussed that emergency management should be led by local authorities. We reaffirmed that DHS is ready to act immediately to offer resources and assistance." Noem has been a champion of a change to the federal strategy under the Trump administration for managing disasters by shifting responsibility to the states. The proposed budget of President Donald Trump includes significant cuts to the Federal Emergency Management Agency (FEMA), which is under her jurisdiction. According to poweroutage.us which tracks blackouts throughout the United States, as of Saturday afternoon about 155,000 customers in Kentucky and Missouri were without electricity. Frank McGurty, Frank McGurty, Steve Gorman, Daniel Trotta and Harshita meenaktshi contributed to the reporting; Susan Fenton, Diane Craft, Rod Nickel and Susan Fenton edited.
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France's Orano is exploring the sale of Niger uranium, reports FT
The Financial Times reported that the French nuclear fuel company Orano, owned by the French government, is looking to sell its uranium assets located in Niger, following the breakup of its relationship with Niger's military leaders. The uranium mining company said that on Tuesday it filed a lawsuit in Niger courts for "arbitrary arrests, illegal detentions and unjustly confiscated property" which involved its staff and assets. Orano claimed it was unable to reach its Niger mining director, Ibrahim Courmo. Sources said earlier this month that Courmo had been taken to the headquarters of Niger's external intelligence agency General Directorate of External Documentation and Surveillance. Orano announced in early December of last year that the Niger military government, which took power through a coup 2023, now controls the Somair Mine, a mine in which Orano holds about 63% of the stake, and the government the rest. The company had also a mining license for its subsidiary Imouraren strip in June 2024. Orano stated in a press release that its priority was the ongoing international arbitral process. It added that "several interested parties have expressed interest in the mining assets owned by the group in Niger, and they are free to make offers if so desired". (Reporting by Harshita Meenaktshi in Bengaluru. Gareth Jones, Susan Fenton and Gareth Jones edited the story.
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Governor says at least 14 people have died in severe storms that ripped through Kentucky.
The Governor Andy Beshear announced on Saturday that at least 14 people died overnight in Kentucky as a result of severe storms. This is expected to increase, the governor said. NBC News had reported earlier that 16 people died as severe weather swept across parts of two states. It wasn't immediately clear if the deaths announced by Beshear on the social media platform X were included in total cited in NBC report. Beshear declared an emergency in his state following the storm system that destroyed mobile homes in Morganfield. This was reported by WLKY, a Louisville-based broadcaster. Officials said earlier that a tornado tore through Missouri's city of St. Louis and damaged 5,000 homes as it tore roofs off. Officials said that it also knocked over power lines, and swept a major thoroughfare on Friday during rush hour traffic. NBC reported that five people died in St. Louis and two more in Scott County in southeastern Missouri. St. Louis mayor Cara Spencer told reporters Friday night that "our city is in mourning." Spencer was sworn into office a month earlier. The loss of lives and destruction are truly, truly horrific. NBC News reported that a spokesperson from both St. Louis Children's Hospital as well as Barnes-Jewish Hospital said at least 35 people were admitted, 15 of whom were children. Barnes-Jewish received at least 20 and possibly 30 people who had been injured by the severe weather. To prevent injury from falling debris and to reduce the possibility of looting, the city implemented a curfew between 9 p.m. and 6 a.m. (0200-1100 GMT). A hazardous weather advisory, which warned of severe thunderstorms until early Friday evening in eastern Missouri and posted a tornado warning for the area immediately to the south-east, was in place at the time the deadly twister struck. National Weather Service reported widespread thunderstorms across parts of the Mississippi Valley, Tennessee Valley, and Ohio Valley on Friday. There was also the possibility for heavy rains, flash flooding, and other weather conditions. Dennis Jenkerson, the Fire Chief, said that about 500 first responders were deployed. This included 17 search teams. Early indications suggest the number of injuries was small compared to the total damage. The National Weather Service has reported that at least a half-dozen tornadoes have touched down in Missouri, Illinois and the surrounding area. Other severe weather has been reported all the way up to the Atlantic Coast including another tornado in New Jersey. (Reporting and editing by William Mallard, Susan Fenton, and Susan Fenton; Reporting by Daniel Trotta and Harshita Menaktshi)
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Local health officials say that Israeli strikes in Gaza have killed 146 Palestinians within 24 hours.
Local health officials said that Israel's airforce has killed or injured at least 146 Palestinians over the last 24 hours in new attacks against Gaza. The country appears to be preparing a new offensive on the ground. Since Thursday, Israel has been launching one of its most deadly bombardment phases since the truce broke down in March. The latest strikes occurred as U.S. president Donald Trump concluded his Middle East trip on Friday without any apparent progress toward a new ceasefire. "Since midnight we have had 58 martyrs and a number of victims are still under the rubble. Marwan Al-Sultan, director of the Indonesian Hospital located in northern Gaza said that the situation within the hospital was "catastrophic". Local health authorities reported that 459 people were injured by Israeli attacks in the last 24 hours. Israel's Military said Saturday that it is conducting extensive strikes in Gaza Strip as part of its preparations for expanding operations and achieving "operational controls" in certain areas of the Palestinian Enclave. Gaza's health system barely functions, with Israeli forces repeatedly hitting hospitals during the war that lasted 19 months. Medical supplies are also drying up due to Israel's tightening of its blockade. Israel claims that the escalation includes the building up of armoured troops along the border. It is the first stage of "Operation Gideon's Wagons", which is intended to defeat Hamas and get its hostages returned. A senior Israeli official stated earlier this month that the operation wouldn't be launched until Trump had completed his Middle East visit. The military announced on Saturday that "we are gradually increasing our forces; Hamas continues to defiant". UN experts warn of a looming famine in Gaza, after Israel blocked aid delivery to the strip 76 day ago. UN Aid Chief Tom Fletcher asked the Security Council to act this week to "prevent genocide". Trump acknowledged the growing hunger crisis in Gaza and the need to deliver aid, while international pressure is increasing on Israel to end its blockade and resume ceasefire negotiations. The U.N. says it will not work with a U.S. foundation that isn't neutral, impartial or independent. Benjamin Netanyahu, Prime Minister of Israel, said that Israel planned an intensive offensive against Hamas on May 5, as his security cabinet approved plans which could include seizing the Gaza Strip and controlling all aid. Israel's army ordered Gazans on Friday to move south following heavy attacks in northern Beit Lahia, and the Jabalia Refugee Camp. Residents said that tanks were moving towards Khan Younis, a southern city. Israel has declared its goal in Gaza to eliminate the military and government capabilities of Hamas. Hamas attacked Israeli communities October 7, 2023 and killed around 1,200 people. It also took about 250 hostages. Gaza's health authorities claim that the military campaign has destroyed this tiny enclave. It has forced nearly all of its 2,000,000 inhabitants to leave their homes, and killed more than 53,000. NBC News reported Friday, citing 5 people who have knowledge of the issue, that the Trump Administration is working on a permanent relocation plan for up to one million Palestinians to move from the Gaza Strip into Libya. Palestinians including Hamas and President Mahmoud Abdullah's rival authority reject any forced displacement outside of their homeland. Reporting by Maytaal angel and Nidal Al-Mughrabi, Editing by Susan Fenton
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Security sources report that at least 23 people were killed by militants in an attack on Nigeria
Security sources and local residents reported that at least 23 farmers and fisherman were killed, and other people abducted in Borno State, northeastern Nigeria this week. Nigeria has long been battling an insurgency, which is primarily led by the islamist group Boko Haram, and its offshoot Islamic State West Africa Province. Security sources and local residents confirmed that the latest attack took place in Malam Karanti village on Thursday morning. The Nigerian army's spokesman did not return phone calls or text messages seeking a comment. Sani Auwal, a local resident, told Sani Auwal by phone that militants killed 23 people near his village. Many of these were bean farmers. He said they spared an old man who alerted his community later. Usman Ali, a local resident, said that the community tried to retrieve the bodies of the victims but was chased away by militants. Last month, Borno's Governor acknowledged that Boko Haram has renewed attacks and kidnappings within the state. This reverses previous gains made by security forces. Reporting by Ahmed Kingimi, Editing by Alexander Winning & Peter Graff
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Israeli strikes kill 58 Palestinians in overnight attacks
Local health authorities reported on Saturday that Israel's airforce had killed at least 60 Palestinians overnight in new attacks against Gaza. The country appears to be preparing a new offensive on the ground. According to local health officials, Israeli airstrikes have killed more than 300 Gazans since Thursday. This is the deadliest phase of bombardment since March, when a ceasefire collapsed. The latest strikes were launched after U.S. president Donald Trump concluded his Middle East trip on Friday without any apparent progress in a new ceasefire. "We have had 58 martyrs since midnight. A large number of victims are still under the rubble." Marwan Al-Sultan, director of the Indonesian Hospital located in northern Gaza said that the situation within the hospital was "catastrophic". Israel's Military said Saturday that it was conducting extensive strikes in preparation for expanding operations in Gaza Strip, and achieving "operational controls" in certain areas of the Palestinian Enclave. Israel claims that the initial stages "Operation Gideon's Wagons" are aimed at defeating Hamas, and regaining its hostages. A senior Israeli official stated earlier this month the operation wouldn't be launched until Trump had completed his Middle East visit. UN experts warn of a looming famine in Gaza, after Israel blocked aid delivery to the strip 76 day ago. UN Aid Chief Tom Fletcher asked the Security Council to act this week to "prevent genocide". Trump acknowledged the growing hunger crisis in Gaza and the need to deliver aid, while international pressure is increasing on Israel to end its blockade and resume ceasefire negotiations. Benjamin Netanyahu, Prime Minister of Israel, said that Israel planned an intensive offensive against Hamas on May 5, as his security cabinet approved the plans. These could include seizing Gaza and controlling all aid. Israel has declared its goal in Gaza to eliminate the military and government capabilities of Hamas. Hamas attacked Israeli communities October 7, 2023 and killed around 1,200 people. It also took about 250 hostages. Gaza's health authorities claim that the military campaign has destroyed this tiny, crowded enclave. It has forced nearly all residents from their homes, and killed more than 53,000.
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Estonia Grants First Offshore Wind Construction Permit
The Government of Estonia has approved a draft bill granting the country’s first construction permit for an offshore wind farm to Saare Wind Energy, which plans to build a wind farm on the west coast of Saaremaa.The building permit is being applied for an offshore wind farm consisting of up to 100 turbines, located at least 11 km from the west coast of Saaremaa. The maximum capacity of the farm is planned to be up to 1,400 MW and it could start producing electricity in the early 2030s.The building permit is valid for 50 years and gives the developer the right to build an offshore wind farm with the necessary infrastructure and allows the next step to apply for a building permit from the Consumer Protection and Technical Surveillance Authority and an environmental permit for special water use from the Environmental Board.Saare Wind Energy OÜ must apply for a building permit, which is generally valid for five years, and finally for an occupancy permit within two years of the issuance of the building permit. The building permit also includes specific environmental mitigation measures that the developer must comply with."This is the first building permit in the history of Estonian offshore wind farms – it is an important step towards clean energy production," said Jaanus Uiga, Undersecretary of State for Energy and Mineral Resources at the Ministry of Climate.Issuing a building permit does not mean that the project will receive state support - the permit is necessary regardless of possible support measures, the government noted.In addition to the plan of Saare Wind Energy, the state has initiated construction permit procedures for 11 more offshore wind farms, which have been submitted by Utilitas Wind, Five Wind Energy, Tuuletraal, UAB "Ignitis renewables projektai 6", Liivi Offshore, the Environmental Investment Center Foundation (ELWIND), and Tuul Energy.
Stocks constant as oil cools; Treasury yields hit four-month high
Worldwide shares were little bit altered on Monday as oil rates pulled back from a. sixmonth peak, while U.S. bond yields hit their highest because. late November as investors continued to control bets on Federal. Reserve interest rate cuts.
Europe's STOXX 600 index was 0.24% higher in early. trading after falling 1.2% the previous week, with Germany's DAX. up 0.54% after better-than-expected industrial data. raised the state of mind.
U.S. S&P 500 futures were flat after the index fell. 0.95% recently. Nasdaq futures were likewise the same.
Stock markets have actually made a rocky start to the 2nd quarter. as the risk of a wider dispute in the Middle East has actually pushed. up oil costs. Strong U.S. economic data has actually likewise contributed to. financier issues about just how much central banks will have the ability to. lower loaning expenses.
Oil prices fell on Monday, nevertheless, as geopolitical tensions. eased rather after Israel withdrew more soldiers from southern. Gaza. Talks on a truce began on Sunday and advanced Monday. although a Hamas authorities said no progress had actually been made,. regardless of Egyptian sources stating headway had been attained.
Brent crude was last down 0.9% at $90.33 a barrel,. after striking a six-month high of $91.91 last week, when aspects. including a presumed Israeli attack on Iran's embassy in Syria. contributed to upward pressure.
The price stays elevated overall though and together with. tighter supply internationally, there isn't an immediate driver for. the cost to loosen, said Sophie Lund-Yates, lead equity. analyst at Hargreaves Lansdown.
A much stronger-than-expected U.S. jobs report on Friday,. which followed solid production data at the start of the. week, caused financiers to cut their bets on a June rate cut from. the Fed.
Market rates on Monday revealed traders see an approximately 48%. chance of a cut in June, below around 59% a week ago.
The probability of rates staying higher for longer pushed. 10-year U.S. Treasury yields to their greatest since. late November on Monday at 4.458%, up 8 basis points.
The strength of the U.S. labour market is calling the. June cut into question, stated Mohit Kumar, primary Europe. economic expert at Jefferies.
While one should not attach excessive importance to one. payroll report ... if the information stays robust we will have to. rethink our June call.
Financier focus this week will be on the U.S. consumer price. index (CPI) report on Wednesday, which is expected to reveal core. inflation, which removes out volatile energy and food costs,. slowing to 3.7% in March from 3.8% the previous month.
If inflation information in the next two months reveal a downward. pattern, the Fed may still be open to a rate cut in June, stated. Vasu Menon, managing director of investment technique at OCBC. Bank in Singapore.
The European Central Bank sets rates of interest on Thursday,. with financiers trying to find a green light from authorities that. rate cuts will begin in June after inflation slowed more than. expected to 2.4% in March.
The U.S. dollar index was little bit changed at 104.37. But Japan's yen remained under pressure, with the dollar up 0.2%. and not far off its greatest given that 1994 at 151.91 yen, keeping. traders on alert for possible intervention by Japanese. authorities.
China mainland stocks trading resumed after extended. holidays from Thursday, with the blue-chip gauge 0.88%. lower. Hong Kong's Hang Seng Index rose 0.07% while. Japan's Nikkei 225 climbed up 0.91%
Spot gold struck a new record high at $2,353.80 an. ounce, and was last up 0.4%.
(source: Reuters)