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German Chancellor Olaf Scholz will attend Pope Francis funeral on Saturday.Verizon (VZ.N) announced on April 22 that the number of mobile phone users fell more than expected in the first quarter, which was the result of fierce competition and reduced spending by government agencies. Verizon shares fell more than 3% in pre-market trading. According to a statement on Tuesday, the largest wireless operator in the United States saw a decrease of 289,000 monthly phone users, exceeding the average analyst estimate of 185,500. This was a huge reversal compared to the 568,000 new users in the fourth quarter of last year, and more than double the decline in the same period last year. Verizon attributed part of the losses to reduced spending by some federal agencies as the Trump administration cut thousands of jobs.On April 22, the Guangzhou-Zhanjiang High-speed Railway Foshan Super Bridge across the Xijiang River was successfully completed. After completion, the Foshan Super Bridge across the Xijiang River will be the worlds largest span 350 km/h ballastless track steel-concrete continuous rigid frame bridge.On April 22, one of the Bank of Englands most hawkish policymakers, Green, said that Trumps tariffs are more likely to put pressure on British prices rather than trigger higher inflation. Green said on Tuesday that she has been more cautious because of lingering concerns about supply-side constraints, high wages and continued inflation in the service sector. She added: "However, I think tariffs actually represent more of a risk of slowing inflation than an inflation risk. So we have to see how it develops in the future." Green said that there may be more volatility in the UK. Tariffs are expected to increase prices in the United States, but the impact on the UK may be different because of weak demand due to the diversion of cheap Asian exports, a weak dollar and slowing growth.According to the Kiev Independent: Russias air strikes in Zaporizhia, Ukraine, killed one person and injured 22.

EU Defends Gas Price Limitation Plan Despite Nation Criticism

Skylar Williams

Dec 01, 2022 11:21

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The head of energy for the European Union defended the bloc's proposal to cap gas prices on Wednesday and announced that countries will discuss possible adjustments in response to concerns from EU member states.


The European Commission suggested a price cap last week that would go into effect if the front-month Title Transfer Facility gas price exceeded 275 euros per megawatt-hour for two weeks and was 58 euros higher than the reference price for liquefied natural gas for ten days. This comes after months of infighting inside the EU over whether or not to cap energy costs.


Countries in favor of a gas price cap to reduce citizens' high energy bills attacked the EU's proposal, with Poland's energy minister labeling it "a joke" and analysts saying it would never be implemented due to its onerous conditions.


EU Energy Commissioner Kadri Simson stated at a Politico-hosted event in Brussels, "It was not our objective to propose something that would never be implemented."


As a result of Russia's invasion of Ukraine, gas prices in the EU have surged this year, yet even a record price increase in August would not have triggered the EU's planned limit.


"Now we must consider how long we are willing to wait if a similar occurrence occurs again. Have we the time and the fortitude to wait two weeks? Is it a week? Is the time span shorter?" Simson declared.


Diplomats from EU member states will evaluate the proposal on Friday with the intention of negotiating a final version for energy ministers to approve at an emergency meeting on December 13.


The EU has previously approved a variety of steps to improve the energy situation, including gas storage filling conditions that have allowed countries to approach winter with full storage caverns.


However, limitations on gasoline prices have split the 27-nation bloc. While Italy, Spain, Belgium, Malta, and Greece criticized the proposed cap as being excessively high or unlikely to ever go into effect, Germany and the Netherlands are wary of regulating gas prices, warning that this could discourage suppliers from transporting Europe's desperately needed gas.


The proposal from the Commission would suspend the cap in the event of a fuel supply shortage.

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