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8 stories found

monetary policyDEVELOPING

Central banks weigh rate rises as energy costs climb — ECB raised rate to 2.5%

The European Central Bank raised its policy rate to 2.5% this week. Rising oil and gas prices linked to the US–Iran war have pushed inflation concerns back to the fore as the US Federal Reserve and the Bank of England prepare rate decisions next week.

  • ECB raised its policy rate to 2.5% this week.
  • Brent crude about $105 a barrel amid restrictions through the Strait of Hormuz.
1 sources93% confidence
BBC Business
Inflation and monetary policyDEVELOPING

US consumer inflation held at 3.4% in August as energy costs rose after Iran tensions

Annual US inflation was 3.4% in August, unchanged from July. Energy-price increases after the U.S.–Iran ceasefire ended pushed gasoline and diesel higher while core inflation rose to 2.4% year-over-year, according to the US Bureau of Labor Statistics.

  • Annual US inflation was 3.4% in August, unchanged from July.
  • Gasoline rose 27.4% year-over-year and accounted for over one-third of the monthly increase.
1 sources91% confidence
The Guardian Business
WorldDEVELOPING

UN warns Ukraine faces 'toughest winter' since 2022 invasion — risk of humanitarian catastrophe

Alexander De Croo, head of the UN Development Programme, said Ukraine faces its "toughest winter" since Russia's 2022 invasion. He warned that systematic attacks on energy infrastructure risk cutting power and water and could precipitate a humanitarian catastrophe.

  • Alexander De Croo warned Ukraine faces its "toughest winter" since 2022.
  • He said Russia is carrying out "very systematic" strikes on energy and civilian infrastructure.
1 sources93% confidence
BBC World
energy and tradeDEVELOPING

Houthis seize Perim island in Bab al-Mandab — risk to Saudi oil export routes

Houthi fighters captured Perim island in the Bab al-Mandab strait after pro-government forces withdrew from the position. Saudi Arabia said it shut the East-West (Petroline) pipeline after a drone attack the previous day.

  • Houthi forces captured Perim island in the Bab al-Mandab strait, splitting the waterway near its narrowest point.
  • Saudi Arabia shut the East-West (Petroline) pipeline, 1,201 km long, after a drone attack it blamed on Iraq.
1 sources91% confidence
The Guardian Business
EnergyCORROBORATED

Appeals court voids DOE order keeping Michigan coal plant open: agency lacked statutory emergency

A three-judge D.C. Circuit panel vacated the Department of Energy’s emergency declarations that kept J.H. Campbell Generating Plant operating, finding the agency did not show a statutory emergency. The case involved five 90‑day orders; the ruling could affect other DOE orders keeping coal plants open.

  • D.C. Circuit vacated DOE emergency orders keeping J.H. Campbell online; each order was 90 days.
  • Court found DOE did not show a statutory emergency under section 202(c) of the Federal Power Act.
2 sources88% confidence
Ars Technica
lithography and chip manufacturingDEVELOPING

ASML: Samsung to begin High-NA EUV volume manufacturing in 2028, TSMC in 2030

ASML says Samsung will use High-NA EUV for volume manufacturing by 2028 and TSMC from 2030. ASML is advancing a shift from 6-inch to 12-inch photomasks, aiming for a 12-inch mask pilot line by 2031 and 12-inch High-NA lithography in advanced-node production by 2033.

  • ASML says Samsung will use High-NA EUV for volume manufacturing by 2028, with TSMC following from 2030.
  • Intel and SK hynix have used High-NA EUV briefly; ASML states it delivers faster production, higher yields and denser wafers.
1 sources82% confidence
PC Gamer
WorldDEVELOPING

Ukraine's chief prosecutor Ruslan Kravchenko resigns over illegal call-centre corruption probe

Ukraine's chief prosecutor Ruslan Kravchenko resigned after weekend searches of his offices amid an investigation into illegal call centres. NABU and SAP allege a money‑laundering network linked to his office converted funds into property and jewellery; Kravchenko dismissed the claims as unsubstantiated.

  • Ruslan Kravchenko resigned after weekend searches of his offices by anti‑corruption investigators.
  • Nabu and Sap say an official in Kravchenko’s office ran a money‑laundering network protecting call centres that carried out phone scams.
1 sources93% confidence
BBC World
Infrastructure & SafetyDEVELOPING

Fire at Lake Mariner data center site: alarms absent and hydrants dry during blaze

In early June a fire occurred in an unfinished building at the Lake Mariner data campus in Somerset, New York, during which firefighters found no working alarm, no suppression system and three dry hydrants. TeraWulf says it is responsible for operational safety and has implemented measures after an after-action review.

  • In early June firefighters found no working alarm, no suppression system and three dry hydrants at the unfinished Lake Mariner building.
  • TeraWulf says it is responsible for operational safety and, after an after-action review, installed Knox boxes, additional hydrants and safety-data-sheet go-bags.
1 sources88% confidence
Ars Technica