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Lead contamination is a threat to residents after the LA wildfires
Residents of LA are tested for lead poisoning following wildfires Lead levels in samples exceed the state's acceptable limits Who pays for soil remediation? Rachel Parsons Michelle, Darcy, and their children were rescued in the middle of the night by a wildfire northeast Los Angeles. They returned home to find that they still owned a house. They and the thousands of residents who live near the burn scar from the Eaton Fire, whose homes have been spared, now face a new threat - elevated and invisible levels of lead that could be lethal. Last week, the Fenwicks waited in line along with hundreds of others to get their blood lead tested at a mobile site set up by the Los Angeles County Department of Public Health. Michelle Fenwick said that her main concern was lead poisoning. She is at a stage where she is putting everything into her mouth. Her husband Darcy, who held their five-year-old boy, also held the 18-month old. The tests come after the Federal Emergency Management Agency, (FEMA), in February refused follow-up soil analysis on properties that were destroyed and cleaned. FEMA has also stated that it does not plan to test any intact property. The county, however, announced in April that the soil samples it had ordered showed that a large percentage of the samples tested exceeded the state's accepted levels of lead. This was on land that was outside the Eaton Fire boundaries but adjacent. According to the U.S. Centers for Disease Control and Prevention, lead contamination can cause organ damage and neurotoxicity with prolonged exposure. Experts say that the most common cause of lead buildup in children is hand-to-mouth transfers. This can cause behavioral problems, learning issues, developmental delays, and behavioral issues. In an online town-hall meeting held on April 10, Dr. Nichole Q. Quick, chief medical advisor at the DPH, said that lead is a neurotoxin and even low amounts in the body can cause lasting harm, particularly in children. Quick stated that blood tests conducted on residents prior to early April revealed no abnormalities. However, "no level of lead is safe," he said. Lead can accumulate in the blood for weeks or months before it becomes visible. DPH stated that "given the timing and the current test results we would expect to see elevated levels if there had been significant exposure by now." The continuous testing of blood lead ensures that we do not miss any exposures which are delayed or ongoing. DPH stated that anyone who tests positive for lead will be contacted within three days. All other results will be mailed to everyone else. Impact on Property Prices The Fenwicks followed all the steps recommended to protect their child. Michelle Fenwick stated, "We have done all the cleaning, put down AstroTurf, and covered dirt with mulch in order to prevent exposure." She said that depending on the results of the tests, they might consider a permanent solution: moving. What price would they get for their house after the devastating Eaton & Palisades Fires, which destroyed more than 12000 structures and burned over 40,000 acres? At least 27 people died. Land contamination can be of any kind and "significantly reduce property values," says LandApp, an online real estate data provider. Lead from the Eaton Fire is primarily attributed to older housing in the area, which dates back more than a century. Homes built before 1978 are almost certain to have been painted with lead-based paint, and many of them had lead pipes. Moving isn't an option for many people. The initial rise in rental rates after the fires raised concerns over price gouging, but prices have since fallen. The housing stock in the area is not enough to accommodate the thousands of displaced people. Patricia Roach, who is also a retired probationary officer standing in line to take a blood sample, stated that she would not be moving. She asked. She asked. She asked. The county hired environmental consultancy firm Roux Inc. for soil testing of 367 intact properties within one mile of the burn zone. The majority of the samples in Roach and Fenwick's neighborhoods exceeded the state's acceptable lead levels. COSTLY CLEANING A second question is if home owners are responsible for the cost of soil remediation, if necessary. The U.S. Army Corps of Engineers is required to test and remove the top six inches of soil contaminated by FEMA. Those with unharmed homes, however, may not be eligible for compensation. FEMA has been asked to help with the assessment of fire effects by the DPH, but due to federal funding cuts it is unclear if the agency will offer any assistance. Adam Love, principal researcher at Roux, stated at the townhall that a chemical accumulation that exceeds state-recommended levels "doesn’t mean that a cleanup must occur." He said that it could mean that additional scrutiny was needed. According to county officials, if the blood test shows a high amount of lead, that person might want their soil tested and removed. The parents of Lily Fenwick were inconsolable as the nurses inserted a needle into her tiny arm. She let out a guttural cry. Parents encourage others to do the tests despite the pain.
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Equinix Malaysia looks for alternative energy sources amid anticipated electricity tariff hike
The Malaysian data centre company Equinix announced on Wednesday that it was looking into alternative sources of energy, as it anticipates an increase in domestic electricity rates to raise its costs. The Malaysian government announced previously that it would increase electricity rates by 14.2% this July. Equinix Malaysia's managing director Cheam Tat Inn said that the company was looking into a variety of renewable energy service providers during a tour of the completed second phase of their data center in Cyberjaya. Cheam didn't specify the renewable sources used or a time frame. Equinix Malaysia operates two data centers, Cyberjaya, and Johor. They have a combined capacity of 4.8 Megawatts (MW) and 2.4MW. Malaysia recently saw a boom in its data centers. The country's facilities are expected to quadruple in the next decade, from 18. These data centers have an electrical demand of 800MW. Since last year, technology giants such as Microsoft, Nvidia Alphabet’s Google, China’s ByteDance, and Oracle announced digital investments worth billions of dollars in Malaysia, mainly in cloud services and information centres. This has fueled an infrastructure boom that is driven by the growing demand for artificial intelligent. Cheam stated that the Equinix data centre in Johor was fully subscribed since its launch in May of last year. He said that the Cyberjaya Data Centre is already full, and customers have already moved in. Equinix is expanding its presence in Southeast Asia in order to tap into the growth potential of the region. Last year, it acquired three data centres located in the Philippines, in addition to operations in Indonesia Malaysia and Singapore.
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Copper prices drop due to caution about US-China talks
The copper price fell in London Wednesday, as the market was not expecting a quick outcome from upcoming talks between U.S. officials and Chinese officials after months of increasing trade tensions. The benchmark three-month copper price on the London Metal Exchange shed 0.9% at $9,456 per metric ton as of 0955 GMT, after reaching $9,582 in the early Asian trading hours. This weekend, U.S. representatives and Chinese representatives are expected to meet for discussions that could be a first step in resolving the trade war between the two world's largest economies. Import duties have risen above 100%. "Any sign that the situation is deescalating would be beneficial, and these talks are an attempt to calm the market down." "Making statements without lowering tariffs is not helpful," said Nitesh Sha, commodity strategist at WisdomTree. We are still in a period of uncertainty about the future of trade policy. The trade spat, and an investigation into copper in the U.S. that is separate from the trade spat, are reducing the availability of copper in the Shanghai Futures Exchange system (SHFE), and the LME. Since several months, the premium between the COMEX and LME copper futures has been higher as Washington continues to investigate whether or not it should impose new tariffs on copper imports. COMEX warehouses saw a rise in inventory as traders shifted copper away from the traditional Asian markets and towards the U.S. The price of a litre of milk has risen by 61% since the end March. Despite the high levels of supplies to the U.S. the inventories at the LME registered warehouses have increased. The SHFE monitored warehouses have seen a steady outflow of stock and continued outflows. The sharp drop in sales is a sign of a robust Chinese market. Yangshan Copper Premium It is the highest level since December 2023. The price has increased by 43% since the end of March. The traders were cautious as well, ahead of the Federal Reserve's interest rate announcement later that day. The markets are indicating that there is little chance of a change in interest rates. LME aluminium fell 1.2%, to $2 398 per ton. Zinc dropped 0.3%, to $2 625, lead increased 0.5%, to $1 931.50, tin rose 0.1%, to $31,990, and nickel declined 0.4%, to $15,620. (Reporting and editing by Emelia Sithole Matarise; Reporting by Polina Devitt)
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In April, Russia's oil and natural gas revenues were down by 12% year-on-year.
The Russian budget revenue from oil and natural gas sales dropped by around 12% compared to April last year. The Ministry of Finance blamed the sharp fall in oil prices. The Kremlin's most important cash source has been oil and gas revenue, which accounts for between a third and a half the total federal budget revenues over the last decade. According to the Finance Ministry, revenues reached 1.09 trillion Russian roubles (13.49 billion dollars) in April, down from 1.23 in April 2024, but slightly up from March's 1.08 trillion. This was more than the 0.96 trillion roubles that. In January-April, revenue fell 10.3% on an annual basis to 3.73 trillion Russian roubles. The impact of lower oil costs could be mitigated by tax increases or spending cuts in the short-term. According to data, the average Russian oil price per barrel in roubles continued to fall in recent months. It was 5,079 in March and 4,562 in April. The budget for this year was initially set at 10.94 trillion Russian roubles. Last month, it revised down the expected proceeds to 8.32 trillion Russian roubles due to falling oil prices.
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Sources: Mali mining convoy attacked on the road to Allied Gold Sadiola mine
Two people who were familiar with the incident said that the attack took place over the weekend in the Kayes area. The convoy was transporting heavy equipment from Bamako, the capital of Mali, to Allied Gold Sadiola Mine. The attack highlights the increased security risks and costs that mining companies in Sahel-led states, which are struggling to contain Islamist militants groups, face. Attacks on mining equipment are rarer than attacks on government or military convoys in Mali. Fortuna, a Canadian gold mining company, announced this month that it had recently decided to leave Burkina Faso's neighbor Mali due to increased security concerns arising from jihadist threats. One source familiar with the incident reported that two large trucks had been set on fire, an excavator damaged, and two pickup trucks stolen in the attack of Sunday. The attack has not yet been claimed by any group. Sources said that the equipment belonged to local Caterpillar dealer Neemba, and was leased by Mota-Engil to operate at Sadiola's quarries. Sources say that eight people, all employees of Neemba, were not injured in the attack. The Malian soldiers who were nearby disrupted the attack. Sources said that the incident occurred between Diema, and Sandare. Separately, a security source confirmed that an attack took place at the same location on Sunday but could not provide any further details. A spokesperson for Allied Gold and Mota Engil, as well as a representative of the Mali army, did not respond immediately to comments. Mali, Africa's leading gold producer, is home to mining companies such as Barrick Gold, B2GOLD Resolute Mining Endeavour Mining and Hummingbird Resources, which are active in its gold-rich west and south regions. The company reported that in February 2024 three employees of B2Gold, a Canadian mining company, were killed during an attack against a convoy carrying them from Fekola, a gold mine located in southwest Mali, to Bamako. Two sources who were familiar with the incident said that two buses had been mistakenly viewed as a military consignment. In recent years, Mali, Burkina Faso, and Niger all experienced military coups carried out by officers who vowed that they would push back jihadists groups affiliated with Al Qaeda or the Islamic State. However, insecurity remains rampant in each of these countries. (Reporting and editing by Robbie Corey Boulet and Jan Harvey; Portia Crowe, Dakar)
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CEZ to appeal the injunction that prevents signing of nuclear power deals
Daniel Benes, CEZ Chief Executive said that the Czech utility will appeal a court order that prevents it from signing a $18 billion agreement with Korea's KHNP for two new nuclear reactors. Benes told reporters that CEZ would respect the court's ruling on Tuesday, but continue with the preparations for the project in spite of the legal challenge from the losing bidder EDF France. He also said CEZ would seek damages due to delays. Benes stated, "We are confident that we have not broken any laws and that this tender will be successful in its conclusion by signing the contract. I am certain of that." Benes was confident that CEZ had acted correctly, and that the Highest Administrative Court will overturn the injunction of the lower court. CEZ officials warned that the project may be delayed if the legal battle drags on. This could threaten the completion date of 2036 for the first unit, which is planned to have a 1,063 megawatt capacity. EDF argued against the process of tendering, which relied on a national-security exemption to standard tender procedures. CEZ and state, who hold a majority of CEZ, insist that KHNP’s offer is superior to EDF’s. CEZ announced on Wednesday that the exact cost for the two units will be 407 billion crowns (18.57 billion dollars), "overnight", meaning without financing costs and any increases due to inflation clauses in contracts, as well as exchange rate fluctuations. CEZ stated that the electricity prices from these new units would be below 90 euros per Megawatt Hour in 2025, even with CEZ's profit margins. The state of the Czech Republic will guarantee this price as part public assistance for the plant and loans for its construction. $1 = 21.9180 Czech crowns (Reporting and editing by Alex Richardson; Jan Lopatka)
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Singapore establishes new GasCo, and appoints a chief executive, according to regulator
Singapore's energy regulator announced on Wednesday that the country had established a wholly government-owned company called Singapore GasCo, to centralise gas procurement and supply to the power sector of the city-state. Energy Market Authority (EMA), in a press release, said that the entity would also benefit from economies of scale, negotiate better gas contracting terms and procure gas from different sources. It would sign contracts for longer periods to ensure a more stable gas supply and price. Alan Heng was also named as Singapore GasCo CEO by the EMA. He was previously the Group Chief Executive of Singaporean LNG company Pavilion Energy from March 2025. Singapore announced its intention to create Singapore GasCo in 2023 to purchase and manage the natural gas for the power sector. Gas is used to generate 95% the electricity in the city-state. A Singaporean minister stated last year that the government expected the entity to begin procuring LNG in 2026. Kpler, a data analytics firm, estimates that Singapore will import 6.35 million tons of LNG by 2024.
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China's central banks purchases gold for the sixth consecutive month in April
Official data released by the People's Bank of China on Wednesday showed that China's central banks added gold to their reserves for the sixth consecutive month. Last month, gold, which is traditionally viewed as a safe haven from political and economic uncertainties, reached a record high of $3.500.05 an ounce, driven by fears about tariff wars and strong demand for the metal in China and other countries. Bullion has risen 29% this year. China's gold reserves increased to 73.77 millions fine troy ounces by the end April, from 73.7million ounces in March. The PBOC reported that the gold reserves of the country were valued at $243.59 Billion at the end last month. This is up from $229.6 Billion at the end March. Ole Hansen is the head of commodity strategy for Saxo Bank. He said that by continuing to accumulate gold, the PBOC signals a desire to continue reducing their dependency on the dollar. The PBOC has never commented publicly on the reasons behind its gold purchases. Gold market experts often explain that China is buying gold to diversify their foreign currency reserves, and the PBOC wants gold because it supports the domestic demand. Gold has been trading at a premium on the Shanghai Gold Exchange over the global benchmark. This is accompanied by major inflows to Chinese physical gold exchange-traded fund (ETFs). In the first quarter 2025, China's demand for gold coins and bars grew 30% on an annual basis. After an 18-month gold-buying spree, the PBOC paused for six months in 2024 before resuming gold purchases in November when Donald Trump was elected president of the United States. Trump said on Sunday that the U.S. is meeting with many countries on trade deals. His main priority for China is to ensure a fair deal. Reporting by Yukun Zhi, Qiaoyi li in Beijing and Polina Devitt in London. Editing by Andrew Heavens, Saad Sayeed and Saad Sayed.
Top IKEA franchisee cautions in Davos that tariffs could drive prices higher
For budget furniture seller IKEA, the fewer trade tariffs there are the much better, the CEO of Ingka Group, the biggest global IKEA franchisee, informed Reuters in Davos on Monday as companies brace for higher U.S. tariffs under President Donald Trump.
We, and I think probably all global companies flourish from harmonised tariffs, if you like, and really, the less the much better since at the end of the day there is a threat in any country with tariffs that you need to, as a company, pass it on to the customers, stated Jesper Brodin, speaking on the sidelines of the World Economic Forum (WEF) annual conference in Davos, Switzerland.
Inflation and high rates of interest have had a destructive. influence on consumers over the previous few years, Brodin stated, including. that he sees need improving.
We are rather optimistic about the outlook and we. already see a shift where people are going back to, I would state,. a normal scenario when it comes to consumption, he stated.
Ingka Group, which runs IKEA shops in 31 nations and. represent 90% of international IKEA sales, reported a drop in yearly. net earnings and sales last year after cutting costs in an. effort to coax inflation-weary consumers back to its huge blue. stores.
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(source: Reuters)