Sweden’s government on Wednesday vowed to compensate households and companies for soaring electricity costs in the wake of the Ukraine war, to the tune of up to 60 billion kronor ($5.76 billion).

Inflation in Canada eased off slightly in July from its blistering pace thanks in part to lower fuel prices, but food costs continued to soar, government data released Tuesday showed.

German energy giant Uniper on Wednesday reported heavy first-half losses which it blamed on Russia squeezing gas deliveries in the wake of the Ukraine war.

“A rush like this in the summertime, it’s unheard of -- everybody wants coal,” says Frithjof Engelke, a supplier of the briquettes which have become a hot commodity in the German capital.

British inflation surged to a new 40-year high in July on soaring food prices, official data showed Wednesday, adding to a cost-of-living crisis as the country faces the prospect of recession.

Traders and fund managers have left crude oil markets in recent months, dropping activity to a seven-year low amid the worst global energy crisis in decades as investors become unwilling to deal with persistently high volatility.

Bangladesh Tea Association (BTA) yesterday said tea garden workers get wages and benefits amounting to at least Tk 400 per day. 

China’s EVE Energy Co Ltd will supply BMW with large cylindrical batteries for its electric cars in Europe, two people with knowledge of the matter said, as the German automaker follows Tesla Inc in adopting the new technology.

Spanish Prime Minister Pedro Sanchez said Tuesday he hopes a gas pipeline linking the Iberian Peninsula to central Europe through France could soon become a reality.

Britain’s unemployment rate remains close to 50-year lows, but wage values are falling at a record pace with inflation at the highest level in decades, official data showed Tuesday.

US homebuilding fell sharply in July, weighed down by higher mortgage rates and prices for materials, suggesting that the housing market could contract further in the third quarter.

Walmart reported a jump in quarterly revenues Tuesday partly driven by inflation as the retail giant signaled it expects its US sales growth to moderate over the next six months.

Chinese lithium hub Sichuan province will ration electricity supply to factories until Saturday, state media reported, as a heatwave sends power demands soaring and dries up reservoirs.

Finland will limit Russian tourist visas to 10 per cent of current volumes as of September 1 due to rising discontent over Russian tourism amid the war in Ukraine, the government said Tuesday.

Russian gas flows to Europe via some major pipeline routes remained at steady, albeit low, levels on Tuesday morning, operator data showed.

Kevin Kendall pulls up at the only green hydrogen refuelling station in Birmingham, Britain’s second-biggest city, and swiftly fills his sedan with clean gas.

Oil prices extended losses Tuesday but European gas prices hit near six-month highs, in both cases fuelling fears of recession.

Russian state gas company Gazprom said on Tuesday that European gas prices could spike by 60 per cent to more than $4,000 per 1,000 cubic metres this winter, as the company’s own export and production continues to fall amid Western sanctions.

Thailand’s economy grew 2.5 per cent in the second quarter as returning foreign tourists failed to offset high inflation and concerns over regional tensions, the country’s main economic agency said Monday.

China’s refinery crude throughput fell last month to its lowest since March 2020 as several state refiners underwent unplanned shutdowns and their independent peers trimmed production in response to thinning margins.