India  

EU Countries Turn to Gas Price Cap After Approving Energy Windfall Levies

Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
EU Countries Turn to Gas Price Cap After Approving Energy Windfall Levies

EU Countries Turn to Gas Price Cap After Approving Energy Windfall Levies

EU Countries Turn to Gas Price Cap , After Approving Energy Windfall Levies.

CNBC reports that on Sept.

30, ministers from European Union member countries met in Brussels.

CNBC reports that on Sept.

30, ministers from European Union member countries met in Brussels.

They approved a package to fight the energy price surge that has been plaguing the EU caused by Russia's war with Ukraine.

They approved a package to fight the energy price surge that has been plaguing the EU caused by Russia's war with Ukraine.

The measures that were approved include levies on the surplus profits made by fossil fuel companies and low-cost power producers as a result of soaring electricity costs.

A 5% decrease in electricity use amid peak price periods was also approved.

Fifteen of the EU member countries think the next step should be to implement a broad gas price cap to contain inflation.

Belgium, Greece, Poland and Italy disagree with the Commission's claim that such a move would require "significant financial resources" to purchase emergency gas if market prices exceed the cap.

Tinne Van der Straeten, Belgian energy minister, argues that only $1.96 billion would be needed, which is a fraction of what the EU suspects it will profit from the new levies.

Tinne Van der Straeten, Belgian energy minister, argues that only $1.96 billion would be needed, which is a fraction of what the EU suspects it will profit from the new levies.

Germany, Austria and the Netherlands disagree, arguing that broad price caps could make it difficult for countries to buy gas if they can't keep up with the competitive prices of global markets.

.

Brussels hopes the new EU-wide measures will help to even the playing field for poorer countries within the union who haven't been able to help struggling businesses and consumers as much as the richer countries


You Might Like


💡 newsR Knowledge: Other News Mentions

European Union European Union Political and economic union of 27 European states

Brussels recommends freezing €7.5 billion in EU funds to Hungary over rule of law concerns [Video]

Brussels recommends freezing €7.5 billion in EU funds to Hungary over rule of law concerns

The European Commission believes the reforms undertaken by Budapest so far to ensure EU money is not misused did not go far enough.

Credit: euronews (in English)    Duration: 02:19Published
Brussels to decide if EU funds for Hungary should be blocked [Video]

Brussels to decide if EU funds for Hungary should be blocked

The European Commission is considering freezing cohesion funds for Budapest after the Hungarian government implemented 17 measures to tackle corruption concerns. Brussels will make a decision based on Hungary’s efforts on November 30.

Credit: euronews (in English)    Duration: 01:50Published
Police Take Down European Cocaine ‘Super Cartel’ [Video]

Police Take Down European Cocaine ‘Super Cartel’

Police Take Down European , Cocaine ‘Super Cartel’. 'The Hill' reports that Europol, the official intelligence agency of the European Union, made the announcement on Nov. 28. Police forces in six countries reportedly worked together to target the “command-and-control center and the logistical drugs trafficking infrastructure in Europe.”. Investigations conducted in the UAE, Netherlands, Spain, France and Belgium resulted in the seizure of more than 33 tons of cocaine. . 49 suspects have been arrested as part of "Operation Desert Light.". The "super cartel" is suspected to be in control of about a third of Europe's cocaine trade. . The scale of cocaine importation into Europe under the suspects’ control and command was massive, Europol, via statement. Six "high-value targets" were reportedly apprehended in Dubai. The country where most of the arrests were made was the Netherlands with 14. . One of the suspects arrested in Dubai is also facing charges related to money laundering and firearms possession.

Credit: Wibbitz Top Stories    Duration: 01:30Published
EU should not start trade war with US over Inflation Reduction Act - expert [Video]

EU should not start trade war with US over Inflation Reduction Act - expert

Brussels and Washington are at odds over the United States' Inflation Reduction Act.

Credit: euronews (in English)    Duration: 02:08Published

'Super cartel' who controlled a third of Europe's cocaine trade taken down

Police in six countries have taken down a "super cartel" of drugs traffickers who controlled around one third of Europe's cocaine trade, the European Union crime..
Sky News

City of Brussels City of Brussels Municipality of the Brussels-Capital Region and capital of Belgium

Brussels bombings trial starts with mammoth jury selection [Video]

Brussels bombings trial starts with mammoth jury selection

Credit: FRANCE 24 English    Duration: 01:34Published
Brussels to have increased police presence for football matches - mayor [Video]

Brussels to have increased police presence for football matches - mayor

A street in Brussels was badly damaged after a group of angry football fans flung furniture and scooters and put a car on fire.

Credit: euronews (in English)    Duration: 02:07Published

CNBC CNBC American television business news channel

How to Make the Most of 'Giving Tuesday' [Video]

How to Make the Most of 'Giving Tuesday'

How to Make the Most of 'Giving Tuesday'. The day focuses on charitable giving following the heaviest shopping week of the year. #GivingTuesday has raised over $1 billion in the U.S. through online donations. These three simple steps can help anyone make the most of charitable giving. First, get educated about where to give. Sites such as ChartiyNavigator.org or CharityWatch.org can help. Second, be smart about how much to give. Philanthropy experts recommend building charitable giving into your budget. . Third, get smart about how to reap the benefit of your giving. Tax itemization is just one way to write off charitable donations. Charitable giving is a habit, it is a muscle you build. The more you engage in it, the better you are going to get, Peter Lipsett, VP DonorsTrust, via CNBC

Credit: Wibbitz Top Stories    Duration: 00:57Published
Twitter Abruptly Closes Offices As Wave of Employees Resign After Musk’s Ultimatum [Video]

Twitter Abruptly Closes Offices As Wave of Employees Resign After Musk’s Ultimatum

Twitter Abruptly Closes Offices , As Wave of Employees Resign After Musk’s Ultimatum. On Nov. 16, Elon Musk sent an email to employees asking them to commit to an "extremely hardcore" work ethic and put in "long hours at high intensity" or quit. Staff had until 5:00 p.m. EST on Nov. 17 to decide. Musk took to Twitter a few hours after the deadline to make his feelings known. But NBC News reports that on Nov. 18, hundreds of employees resigned. Entire teams representing critical infrastructure are voluntarily departing the company, leaving the company at serious risk of being able to recover, Anonymous Twitter engineer, to CNBC. We are skilled professionals with lots of options, so Elon has given us no reasons to stay and many to leave, Anonymous Twitter engineer, to CNBC. NBC News reports that the resignations have prompted Twitter to close all of its offices until Nov. 21. Musk has also reportedly asked some of the company's top engineers to reconsider resigning and stay with Twitter. . #RIPTwitter was trending following the resignations

Credit: Wibbitz Top Stories    Duration: 01:31Published
Amazon To Lay Off 10,000 Employees [Video]

Amazon To Lay Off 10,000 Employees

Amazon To Lay Off , 10,000 Employees. 'The New York Times' and 'The Wall Street Journal' report that a source claims that the retail behemoth will lay of thousands of workers starting this week. Amazon has never made such a large cut to its staff. The company's devices organization, human resources and retail division will mostly be impacted. . The layoffs will account for less than 1% of Amazon's global staff and 3% of corporate employees. The news comes as other major companies such as Meta, Robinhood, Microsoft, Netflix and more have announced layoffs. . The news comes as other major companies such as Meta, Robinhood, Microsoft, Netflix and more have announced layoffs. . The news comes as other major companies such as Meta, Robinhood, Microsoft, Netflix and more have announced layoffs. . The news comes as other major companies such as Meta, Robinhood, Microsoft, Netflix and more have announced layoffs. . The news comes as other major companies such as Meta, Robinhood, Microsoft, Netflix and more have announced layoffs. . CNBC reports that Amazon CEO Andy Jassy has been trying to cut costs where he can as sales slow and the economy suffers. Some of the measures the company has taken include shutting down its telehealth service, closing most of its U.S. call centers and axing its delivery robot. Some of the measures the company has taken include shutting down its telehealth service, closing most of its U.S. call centers and axing its delivery robot. Some of the measures the company has taken include shutting down its telehealth service, closing most of its U.S. call centers and axing its delivery robot. CNBC reports that Amazon shares were down 2.5% on Nov. 14. They're down 41% for the year. According to CNBC, Amazon stock "is on pace for its worst year since 2008."

Credit: Wibbitz Top Stories    Duration: 01:31Published
Apple To Spend $450 Million To Enable Emergency Satellite Texting [Video]

Apple To Spend $450 Million To Enable Emergency Satellite Texting

Apple To Spend $450 Million , To Enable Emergency Satellite Texting. CNBC reports that Apple made the announcement on Nov. 10. The majority of the $450 million will go to Globalstar, a Louisiana-based satellite communications company. Globalstar's satellite operations will make it possible for Apple to offer the new emergency texting feature. An iPhone software update will soon allow users who aren't able to connect to a cell tower to send a text message by connecting to a Globalstar satellite in low Earth orbit. CNBC reports that the feature will be free for two years, but Apple may charge for the service later on. This is because the service isn't fully automated and requires call center staff. Apple reports that more than 300 Globalstar employees will be dedicated to the service. The tech company's payment to Globalstar will be pulled from Apple's Advanced Manufacturing Fund. The fund is used to support suppliers based in America

Credit: Wibbitz Top Stories    Duration: 01:30Published
Binance Backs Out of Plans To Acquire FTX [Video]

Binance Backs Out of Plans To Acquire FTX

Binance Backs Out of Plans , To Acquire FTX. Binance Backs Out of Plans , To Acquire FTX. CNBC reports that FTX was rocked by a sell-off that gained momentum... . ... after Binance CEO Changpeng Zhao publicly announced that his company was selling its holdings in FTT, its competitor's native token. FTX CEO Samuel Bankman-Fried reportedly went to venture capitalists and other investors in addition to Binance in an attempt to remedy liquidity issues. . Zhao later revealed that the world's largest cryptocurrency firm and FTX came to a nonbinding agreement that would have helped FTX avert its crisis. But CNBC reports that one day after reaching that deal, on Nov. 9, Binance backed out. Zhao also reportedly sent a memo to employees on Nov. 9 stating that he "did not master plan" FTX's collapse

Credit: Wibbitz Top Stories    Duration: 01:31Published

Ukraine Ukraine Country in Eastern Europe

Ukraine eyes up the strategic Kinburn Peninsular [Video]

Ukraine eyes up the strategic Kinburn Peninsular

, Kyiv has its eyes set on the strategic Kinburn peninsular. It’s a piece of land that juts out from the in the Black Sea. Crucially it is connected to territory on the south side of the Dneiper river.

Credit: euronews (in English)    Duration: 01:35Published
Kherson residents describe torture under Russian occupation [Video]

Kherson residents describe torture under Russian occupation

Braving daily Russian shelling from across the Dnipro River, residents of the liberated Ukrainian city of Kherson are trying to come to grips with the past eight months of Russian occupation. DW's Nick Connolly met two people who survived weeks of torture.

Credit: Oneindia    Duration: 03:30Published
Berlin braces for more Ukrainian refugees [Video]

Berlin braces for more Ukrainian refugees

With Russia stepping up its attacks on Ukraine's civilian infrastructure, Germany's capital Berlin is preparing for more refugees from the country. The city plans to create permanent housing for up to 10,000 additional people. So far, finding a home is hard.

Credit: Oneindia    Duration: 03:06Published
'It's always scary': Medics in Ukraine's 'meat grinder' city of Bakhmut [Video]

'It's always scary': Medics in Ukraine's 'meat grinder' city of Bakhmut

Credit: FRANCE 24 English    Duration: 01:37Published

Germany Germany Country in Central Europe

Germany announces plans to speed up naturalisation process [Video]

Germany announces plans to speed up naturalisation process

Germany has outlined plans to allow people who live in the country to become citizens faster

Credit: euronews (in English)    Duration: 01:33Published

Germany super sub Fullkrug's amazing backstory

Niclas Fullkrug kept Germany in the World Cup with his strike against Spain on Sunday - and his personal story is just as amazing.
BBC Sport
FIFA World Cup 2022: First week throws surprise victories for underdogs | Oneindia News*Special [Video]

FIFA World Cup 2022: First week throws surprise victories for underdogs | Oneindia News*Special

It has been more than a week since the FIFA World cup started in Qatar. And within these time-frame,the game has thrown out a few surprises. Nobody saw it coming…and nobody even imagined it. Saudi Arabia staged a huge upset with a 2-1 victory over Argentina, ending Argentina’s 36-match unbeaten run…the Japanese team shocked the Germans with a gritty 2-1 win. Yesterday, riots broke out in several Belgian and Dutch cities after Morocco defeated Belgium by 2-0. Since the event has thrown quite a few unthinkable surprises…today, we take a look at 5 of the most historic upsettings in the FIFA World cup history. But before that, don’t forget to like, share and subscribe to Oneindia. #FIFAworldcup2022 #Qatar #Footballworldcup

Credit: Oneindia    Duration: 03:54Published

Netherlands Netherlands Country in Northwestern Europe with territories in the Caribbean

USA relishing Dutch battle - with or without Pulisic

The United States are in the World Cup last 16 - but will Christian Pulisic be with them when they take on the Netherlands on Saturday?
BBC Sport
Netherlands beat Qatar 2-0 to end host's dismal World Cup showing [Video]

Netherlands beat Qatar 2-0 to end host's dismal World Cup showing

Credit: FRANCE 24 English    Duration: 02:14Published

United States progress thanks to Pulisic goal

USA beat Iran 1-0 in their must-win clash thanks to a first-half goal from Christian Pulisic to set up a last 16 tie with the Netherlands as Iran fail to..
BBC Sport

Pulisic winner sends USA through as Iran go out

Christian Pulisic scores the winner against Iran that sends the United States through to face the Netherlands in the World Cup last 16.
BBC Sport

Brilliant Gakpo can 'go to the moon and back'

Cody Gakpo has made a big impact at the World Cup, with goals in all three of the Netherlands' group games, and can go 'to the moon and back' according to his..
BBC Sport

Poland Poland Country in Central Europe

Protesters slam Kaczynski's comments on women drinking and Poland's near total abortion ban [Video]

Protesters slam Kaczynski's comments on women drinking and Poland's near total abortion ban

A few hundred protesters gathered Monday outside the house of Poland's ruling party leader to vent anger at what they regard as an erosion of women's rights

Credit: euronews (in English)    Duration: 01:20Published

Emotional Lewandowski knew 'time was running out'

Robert Lewandowski says he knew time was running out to fulfil his dream of scoring at a World Cup finals, after netting in Poland's Group C win over Saudi..
BBC Sport

Defender blunder gifts Lewandoski first ever World Cup goal

Watch the moment Robert Lewandowski scores his fist ever World Cup goal for Poland in their Group C match against Saudi Arabia at the World Cup.
BBC Sport

Lewandowski scores as Poland beat Saudi Arabia

Watch highlights as a Robert Lewandowski goal and Wojciech Szczesny penalty save help Poland beat Saudi Arabia 2-0 in Group C at the World Cup.
BBC Sport

Szczesny makes brilliant double save from penalty

Watch the moment Poland goalkeeper Wojciech Szczesny thwarts Saudi Arabia with a brilliant double save from a penalty.
BBC Sport

Greece Greece Country in Southeast Europe

Five hundred people crammed in fishing boat rescued in Mediterranean [Video]

Five hundred people crammed in fishing boat rescued in Mediterranean

A boat believed to be carrying hundreds of migrants is safely towed to the Greek island of Crete after a dramatic rescue complicated by near gale-force winds, a coastguard said.

Credit: euronews (in English)    Duration: 01:00Published
Catch less, earn more: the reinvention of Mediterranean fishing [Video]

Catch less, earn more: the reinvention of Mediterranean fishing

Small-scale fishers in Croatia and Greece are finding new ways to face up to environmental and economic challenges.

Credit: euronews (in English)    Duration: 08:00Published
Greek strikers clash with police in Athens [Video]

Greek strikers clash with police in Athens

Thousands of protesters marched through the streets of Athens on Wednesday as public and some private sector workers walked out in a 24-hour general strike.

Credit: euronews (in English)    Duration: 01:00Published
Clashes in Greece as strikes over inflation disrupt public transport [Video]

Clashes in Greece as strikes over inflation disrupt public transport

Inflation among Eurozone countries -- including Greece -- hit a record 10.7% last month.

Credit: euronews (in English)    Duration: 01:01Published
EU democracy is under attack by mercenary spyware, claims new report [Video]

EU democracy is under attack by mercenary spyware, claims new report

Illegal cases of spyware use have been detected in Poland, Hungary, Greece and Spain, raising concerns about privacy rights and press freedom.

Credit: euronews (in English)    Duration: 02:05Published

Related videos from verified sources

EU energy ministers meet to approve power savings and revenue caps to curb soaring prices [Video]

EU energy ministers meet to approve power savings and revenue caps to curb soaring prices

A proposal to impose an EU-wide price cap on gas imports will feature high during Friday's debate.

Credit: euronews (in English)     Duration: 01:47Published
Energy Commissioner Kadri Simson: "we need a price cap for Russian gas" [Video]

Energy Commissioner Kadri Simson: "we need a price cap for Russian gas"

Spiralling inflation, an unhealthy dependence on Russian energy, and the risk of power cuts. The EU Commission faces one of its toughest winters on record. Energy Commissioner, Kadri Simson wants a..

Credit: euronews (in English)     Duration: 07:51Published
'Polluters must pay' -U.N. chief slams oil, gas companies [Video]

'Polluters must pay' -U.N. chief slams oil, gas companies

Addressing world leaders at the 193-member U.N. General Assembly, U.N. chief Antonio Guterres stepped up his attacks on oil and gas companies, urging rich countries to tax windfall profits of the..

Credit: Rumble     Duration: 01:25Published