Europe’s plans to replace Russian gas are deemed ‘wildly optimistic’ — and could hammer its economy

A drilling rig at a gas processing facility, operated by Gazprom. Maxim Shemetov | Reuters The European Union’s best shot at replacing Russian gas imports this year is likely to miss the mark, analysts predict, exerting further pressure on the region’s economy. The EU plans to replace two-thirds of Russian gas imports by the end … Read more

De Nora IPO priced at 13.50 euros per share; $2.8 billion valuation

De Nora was founded in 1923 and specializes in electrode and water treatment technologies. Pavlo Gonchar | Lightrocket | Getty Images The CEO of electrode maker Industrie De Nora says it is “not scared” about the current market turbulence as it braves an IPO this week. The initial public offering was priced at 13.50 euros … Read more

Putin is squeezing gas supplies. And Europe is getting seriously worried about a total shutdown

BRUSSELS – European leaders are growing increasingly concerned about the possibility of a full shutdown of gas supplies from Russia, with Italy asking for a new meeting to debate the matter. Gazprom, Russia’s state-backed energy supplier, has reduced its gas flows to Europe by about 60% over the past few weeks, prompting Germany, Italy, Austria … Read more

Europe’s fear gauge just hit its highest level since May 2020

Italian borrowing costs are surging at a time when consumers are turning more worried about the cost of living crisis. Stefano Guidi | Getty Images News | Getty Images A measure known as Europe’s fear gauge has hit its highest level since the coronavirus outbreak, in what could spell out further economic pain for Italy … Read more

How nature could change the way we do business

A hot cup of coffee is the perfect start to the day for millions of people around the world. But when taking that first sip, it’s easy to forget how much work goes into bringing it to the table. From the farmers cultivating and harvesting coffee plants, to milling and roasting, many crucial and labor-intensive … Read more

George Soros says Russia is blackmailing Europe with gas

Russian President Vladimir Putin delivers a speech during a ceremony honoring the country’s Olympians and Paralympians at the Kremlin in Moscow, Russia April 26, 2022. Maxim Shemetov | Reuters DAVOS, Switzerland – Russian President Vladimir Putin’s bargaining position is “not as strong as he pretends” and Europe has leverage against him, according to billionaire investor … Read more

Burning gas to produce electricity is ‘stupid,’ the CEO of power giant Enel says

Enel CEO Francesco Starace photographed in 2019. In an interview with CNBC on May 24, 2022, Starace said “you can produce electricity better, cheaper, without using gas.” Giulio Napolitano | Bloomberg | Getty Images The CEO of Italian power firm Enel has cast doubt on the continued benefit of using gas to produce electricity, telling … Read more

European markets open to close, data, earnings, Davos

LONDON – European stocks are expected to open lower Tuesday as US markets struggle to maintain a comeback rally. The UK’s FTSE index is seen opening 35 points lower at 7,468, Germany’s DAX 47 points lower at 14,099, France’s CAC 40 down 28 points at 6,310 and Italy’s FTSE MIB 168 points lower at 23,945, … Read more

from yachts to the United Nations

Many people occasionally travel for work. But for some, travel is at the heart of their jobs. CNBC Travel spoke with people from four industries about occupations where working from home – or an office for that matter – isn’t an option. A year of travel Name: Sebastian ModakJob: Former New York Times “52 Places … Read more

investors monitor Russian energy supplies to Europe

LONDON – European stocks are expected to open higher on Thursday as investors continue to monitor developments in Ukraine and Russia’s next move when it comes to its gas supplies to Europe. The UK’s FTSE index is seen opening 17 points higher at 7,451, Germany’s DAX 78 points higher at 13,835, France’s CAC 40 up … Read more