Shell shuts Norco, Louisiana, chemical unit for substation work -sources

By Erwin Seba (Reuters) -Shell Plc shut the GO-1 olefins unit in the chemical plant at its Norco, Louisiana, refining and chemical plant complex, said people familiar with plant operations on Monday. The GO-1 unit shutdown will allow power provider Entergy to make repairs beginning on Wednesday to a substation, according to a notice Shell …

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Factbox-How governments are trying to ease inflation pain

(Reuters) – Pandemic-related disruptions to global supply chains and the knock-on effects of Russia’s war in Ukraine have driven up prices of energy, commodities and necessities. Here’s how governments are trying to help hard-hit consumers and companies: AMERICAS: * The U.S. government in early November announced $4.5 billion in measures to help Americans lower home …

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RWE initiates arbitration proceedings against Gazprom

BERLIN/FRANKFURT (Reuters) -German energy firm RWE has initiated arbitration proceedings against Russia’s Gazprom over missing gas deliveries, a spokesperson for RWE said, without providing further details. The move comes after German utility Uniper last week launched an arbitration process in the hope of securing billions of euros in compensation from Gazprom over undelivered gas volumes. …

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European shares slip on recession fears, China optimism limits losses

By Amruta Khandekar and Bansari Mayur Kamdar (Reuters) -European shares slipped on Monday after data showing a decline in euro zone business activity fanned recession fears, while hopes of easing of stringent COVID-19 curbs in China boosted miners and other China-exposed equities. The region-wide STOXX 600 closed 0.4% down. The index had notched gains for …

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EU says making sustainability rules easier to apply is a top priority

By Huw Jones LONDON (Reuters) – Making it easier to apply the European Union ‘taxonomy’ for classifying sustainable activities and investments to inform investors is now a top priority, the bloc’s financial services chief Mairead McGuinness said on Monday. The bloc is introducing measures to help the economy reach net-zero emissions targets by 2050, such …

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EU charge sheet tells Illumina to swiftly unwind Grail deal

By Foo Yun Chee BRUSSELS (Reuters) -EU antitrust regulators on Monday proposed measures for U.S. life sciences company Illumina to unwind its acquisition of biotech firm Grail, three months after blocking the deal on concerns that it would hurt competition. Illumina completed the takeover of Grail in August 2021, without securing European Union regulatory approval. …

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