| |  |  | The Reuters Daily Briefing | Thursday, March 31, 2022 by Linda Noakes | Hello Here's what you need to know. The U.S. weighs the largest ever draw from its emergency oil reserve, how Volkswagen's Trinity aims to catch up with Tesla, and why Britain has a cucumber crisis | | | | | Today's biggest stories BUSINESS & MARKETS
Oil prices plunged on news that the United States was considering the release of up to 180 million barrels from its Strategic Petroleum Reserve, the largest in the near 50-year history of the SPR.
Inflation continued to surge across Europe's biggest economies this month, leaving households poorer as they picked up the bill for soaring energy costs. British energy customers reported problems attempting to submit gas and electricity meter readings, a day before prices are set to soar, with many providers' websites appearing to be unreachable or offline.
In a small corner of south-east England, vast glasshouses stand empty, the soaring cost of energy preventing their owner from using heat to grow cucumbers for the British market. Elsewhere in the country growers have also failed to plant peppers, aubergines and tomatoes after a surge in natural gas prices late last year was exacerbated by Russia's invasion of Ukraine, making the crops economically unviable.
As Tesla kicks off production at its new German plant this month, Volkswagen is weeks away from finalizing plans for a $2.2 billion electric vehicle factory that it hopes will bring it up to speed with its U.S. rival. Meanwhile, automakers racing to develop battery-powered, software-driven vehicles to compete with Tesla are confronting a new challenge: what technology to build themselves, and what to keep buying from suppliers.
Freshly emboldened retail investors have continued piling into risky assets, supporting a bounce that has buoyed everything from so-called meme stocks to cryptocurrencies despite economic worries and geopolitical uncertainty.
The value of global merger and acquisition activity took a 29% hit in the first quarter of 2022 as market volatility fueled by Russia's invasion of Ukraine pushed the brakes on last year's breakneck pace of dealmaking.
Insurers face potential multi-billion dollar claims for cyber attacks related to Russia's invasion of Ukraine, despite policy wording designed to get them off the hook for war, industry sources say.
|  People line up outside a noodle store in Shanghai, China, March 31, 2022. REUTERS/Aly Song WORLD NEWS Residents in the western districts of Shanghai rushed to stock up on groceries as they braced to go under lockdown, as the city's authorities issued an appeal for continued cooperation with tight curbs imposed to stop COVID-19 spreading.
Pakistan's parliament will today begin a debate of no-confidence in the leadership of Prime Minister Imran Khan, which could see the former cricket star ousted and the return of political uncertainty in the nuclear-armed country.
A Turkish prosecutor called for the trial in Istanbul of Saudi suspects over the killing of journalist Jamal Khashoggi to be halted and transferred to Saudi authorities, a move which comes as Turkey seeks to mend ties with Riyadh.
Sri Lanka is turning off its street lights to save electricity, a minister said, as its worst economic crisis in decades brought more power cuts and gloom to its main stock market, triggering a halt in trade as prices slid.
Tunisian President Kais Saied issued a decree dissolving parliament, which has been suspended since last year, after it defied him by voting to repeal decrees that he used to assume near total power.
The Constitutional Court in Seoul upheld a ban on tattooing, confirming South Korea as the only developed country that permits no one but medical professionals to perform the procedure.
| | | | | | | | | | | Quote of the day "For them to let him stay in that room and enjoy the rest of the show and accept his award, I was like how gross is this? This is just the wrong message" Wanda Sykes Oscars co-host Will Smith refused to leave Oscars, academy says | | | | Video of the day  This robot can stand, walk and drive The Swiss-developed device can navigate difficult terrain and perform basic human-like tasks such as pressing buttons. | | | Thanks for spending part of your day with us. | | | | | |
