Tuesday, 26 July 2022

Russia says it will cut gas supplies to Europe

Tuesday, July 26, 2022

by Rossalyn Warren

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Russia says it will cut gas supplies to Europe, the Alps' glaciers are on track for their highest mass losses in at least 60 years, and Pope Francis apologized to Canada's native people for the Church's role in child abuse.

Today's biggest stories

Vladimir, 93, stands in front of Central House of Culture after a military strike hit a building, as Russia's invasion of Ukraine continues, in Chuhuiv, in Kharkiv region, Ukraine July 25, 2022. REUTERS/Nacho Doce

WORLD

Russia said it will cut gas supplies to Europe from Wednesday in a blow to countries that have backed Ukraine, while missile attacks in Black Sea coastal regions raised doubts about whether Russia will stick to a deal to let Ukraine export grain. Here's what you need to know today about Ukraine and Russia.

In Australia, hospital admissions for COVID-19 have reached a new high for a second straight day, while the daily death toll rose to its second-highest as an outbreak fueled by a coronavirus sub-variant sweeps the country. Nearly 5,600 patients infected with COVID are in hospital, while 100 new deaths were reported.

Pope Francis apologized to Canada's native people on their land for the Church's role in schools where indigenous children were abused, calling the forced cultural assimilation a "deplorable evil" and "disastrous error."

The 10-member Association of Southeast Asian Nations issued a stinging rebuke today of Myanmar's ruling military's execution of four political activists, calling it "highly reprehensible." The military, which seized power in a coup last year, announced in state media that it had executed the activists for aiding "terror acts" by a civilian resistance movement, Myanmar's first executions in decades.

The Alps' glaciers are on track for their highest mass losses in at least 60 years of record keeping, data shared exclusively with Reuters shows. If greenhouse gas emissions continue to rise, the Alps glaciers are expected to lose more than 80% of their current mass by 2100.


WNBA star and two-time Olympic gold medalist Brittney Griner stands in a cage at a court room prior to a hearing, in Khimki just outside Moscow, Russia, July 26, 2022. Alexander Zemlianichenko/Pool via REUTERS

U.S.

Former President Donald Trump crossed out sentences that distanced him from the rioters who attacked the U.S. Capitol on Jan. 6, 2021, and refused to call for their prosecution in a draft of a speech he delivered the next day, congressional testimony showed. In the attack, thousands of Trump supporters breached the Capitol in an attempt to stop Congress from certifying Joe Biden's presidential victory.

U.S. and Taliban officials have exchanged proposals for the release of billions of dollars from Afghan central bank reserves held abroad into a trust fund, three sources familiar with the talks said, giving a hint of progress in efforts to ease Afghanistan's economic crisis.

U.S. basketball player Brittney Griner appeared at a Russian court on Tuesday for the fifth hearing of her trial on drugs charges that could carry a jail sentence of up to 10 years. The two-time Olympic champion was arrested at an airport in Moscow in February after vape cartridges containing hashish oil were found in her baggage.

Firefighters finally started to control California's largest wildfire so far this year, halting its eastward expansion toward nearby Yosemite National Park while thousands of people remained under evacuation orders. More than two decades of drought and rising temperatures have conspired to make California more vulnerable than ever to wildfires.

A long overlooked co-defendant of the Central Park Five, a group of Black and Latino teenagers wrongly convicted of raping a white woman jogger in 1989 based on false confessions, was exonerated of a related conviction by a New York judge on Monday. Steven Lopez was 15 when he was first named in the indictment for the rape and attempted murder of Trisha Meili.

The logo of Alibaba Group is seen lit up at its office building in Beijing, China August 9, 2021.

BUSINESS & MARKETS

Alibaba, the e-commerce giant, plans to add a primary listing in Hong Kong to its New York presence, targeting investors in mainland China as it becomes the first big company to take advantage of a rule change in the financial hub to attract high-tech Chinese firms.

U.S. chipmaker Intel Corp says it will produce chips for Taiwan’s MediaTek Inc, one of the world's largest chip design firms. The manufacturing arrangement is one of the most significant deals Intel has announced since it launched its so-called foundry business early last year.

European Union countries are set to approve a weakened emergency EU proposal to curb their gas demand on Tuesday, with opt-outs allowing them to follow different national paths to prepare for Russian supply cuts.

Asian shares pared losses on Tuesday as investor sentiment improved on China's reported plans to tackle a debt crisis in real estate development. Chinese stocks jumped after reports the country would set up a fund of up to $44 billion to help property developers.

The United States became the top liquefied natural gas (LNG) exporter in the first half of 2022, the Energy Information Administration (EIA) said, citing data from CEDIGAZ, as the country increased supply to Europe amid the Ukraine crisis.

BREAKINGVIEWS

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Read about how Alibaba’s announcement to upgrade its Hong Kong listing has been long hoped-for by investors, how Walmart missing its profit targets means a widespread problem, and how tech investors may be overvaluing moats.

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Quote of the day

"It is not in chaos and confusion or division that we will make progress towards stabilization and peace."

Khassim Diagne

UN acting head of mission in the eastern Democratic Republic of Congo

Protesters ransack UN peacekeepers' offices in eastern DR Congo

Video of the day

Harris travels to Indiana ahead of abortion fight

U.S. Vice President Kamala Harris on Monday traveled to Indianapolis and met with Indiana state legislators to fight a proposed bill that would ban abortion except in cases of rape, incest or medical emergency.

And finally…

Britain to host 2023 Eurovision Song Contest on Ukraine's behalf

Britain will host next year's Eurovision Song Contest on behalf of winners Ukraine due to the ongoing conflict there, the competition's organisers said on Monday.

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