Monthly Archives: July 2022

Do these heatwaves mean climate change is worse than we thought?

Millions of people are now experiencing the effects of climate change firsthand. Blistering heat waves have smashed temperature records around the globe this summer, scorching crops, knocking out power, fueling wildfires, buckling roads and runways, and killing hundreds in Europe alone. The dizzyingly quick shift from an abstract threat to an era of tumbling temperature…

Russia restarts natural gas flows to Europe through Nord Stream pipeline, cooling prices and recession fears

The Nord Stream pipeline transports natural gas from Russia to Germany. Stefan Sauer/Picture Alliance/Getty Images Russia restarted flows of natural gas through the Nord Stream 1 pipeline on Thursday after a routine shutdown. European natural gas prices fell, and politicians breathed a sigh of relief as the risk of a catastrophic energy crunch receded. However,…

Even if the US is in a recession, it’s likely to be mild and there’s no need to panic over ‘fixable’ inflation, BlackRock’s Larry Fink says

“More of our clients are interested in voting on their index holdings,” BlackRock CEO Larry Fink, pictured here in March, told analysts last year. Roy Rochlin/Getty Images The US economy may be already in recession, but even so, it will be mild, BlackRock boss Larry Fink said. Inflation is fixable over time, and there’s no…

A priceless jeweled Fabergé egg may have been sitting on a Russian oligarch’s superyacht that was seized in Fiji

One of the Fabergé eggs is seen on display at the Victoria and Albert Museum. Justin Tallis/Getty Images US law enforcement may have found a priceless Fabergé egg on a Russian oligarch’s superyacht.The find was made on the Amadea, a vessel owned by sanctioned Russian oligarch Suleiman Kerimov.Kerimov’s yacht was seized in Fiji and sailed…

The US would face a ‘deep and immediate recession’ if made-in-Taiwan chips were cut off, US commerce secretary says

The Taiwan Semiconductor Manufacturing Company, or TSMC, accounts for about 90% of the world’s chip output, Costfoto/Future Publishing via Getty Images The US faces a “deep and immediate recession” if its access to Taiwan chips are cut, said Commerce Secretary Gina Raimondo. The US buys 90% of the leading-edge chips it uses from Taiwan. The…

Ricky Martin to appear virtually in Puerto Rico court over restraining order against him

Ricky Martin performs live on stage on May 26, 2022 in Cap d’Antibes, France. In early July, the singer was hit with a domestic violence related restraining order. Clint Spalding/amfAR/Getty Images for amfAR Ricky Martin has a scheduled hearing Thursday to address the active restraining order against him. On July 2, a judge issued a…

The US housing market is entering a ‘deep freeze’ as surging borrowing rates and sky-high home prices hit buyers, Moody’s Zandi says

For sale signs stand on a medium strip in a housing development. Mark Wilson/Getty Images The US housing market won’t crash, but will see “a major comeuppance” in terms of price declines. Moody’s chief economist Mark Zandi said more and more buyers are simply locked out of the market. Existing home sales in the US…