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EU countries still split by ‘different views’ on gas price cap

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EU countries still split by ‘different views’ on gas price cap

The primary-ever EU cap on gasoline costs nonetheless has an extended solution to go.

The 27 international locations are break up by “completely different views” across the unprecedented proposal which goals to set a most worth on the day by day transactions happening within the gasoline market.

The cap will apply to the Dutch Title Switch Facility (TTF), Europe’s main buying and selling hub, and different related venues, and can act as an emergency ceiling to forestall circumstances of utmost hypothesis and volatility.

The precise worth vary is but to be outlined.

“Right here, as you possibly can think about, now we have reasonably completely different views on the [TTF] mechanism,” mentioned Czech Vitality Minister Jozef Síkela mentioned on Tuesday on the finish of a gathering of power ministers in Luxembourg.

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“The primary query is how you can be sure that capping will nonetheless permit us to purchase the gasoline we want in the marketplace,” Síkela mentioned, whose nation at present holds the rotating presidency of the EU Council.

Kadri Simson, European Commissioner for power, mentioned the TTF restrict may very well be used “instantly” as soon as international locations endorse the proposal, which continues to be within the works.

“As we develop this short-term software, we should guarantee safety of provide and keep away from a rise in gasoline consumption,” Simson advised reporters.

The worth cap is a part of a new package deal of extraordinary measures to deal with the power disaster, which additionally options joint purchases of gasoline provides and computerized solidarity guidelines to deal with shortages.

The package deal was mentioned by EU leaders throughout a summit in Brussels final week after which despatched again to power ministers to debate the technical particulars.

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Síkela mentioned ministers “extensively supported” the thought of joint procurement and “welcomed” the solidarity guidelines however they raised questions and expressed considerations relating to the worth cap.

“Now we have to introduce measures that can please, if attainable, all member states,” he mentioned.

As officers gathered in Luxembourg, Europe’s gasoline costs continued to lower, buying and selling fell under €100 per megawatt-hour for the primary time since mid-June.

Requested if this downward development may dampen the momentum across the gasoline cap, Síkela mentioned “the sport is just not over” as there may be nonetheless uncertainty over the upcoming winter season.

“As a result of the sport is just not over we have to have an emergency measure, no matter the place we’re within the [price] curve,” the Czech minister mentioned, referring to the TTF mechanism.

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A unprecedented assembly will probably be convened on 24 November with the goal of approving the brand new package deal.

Iberian extension underneath query

One other level of rivalry in the course of the ministerial assembly was the chance of extending the so-called Iberian mannequin to your entire European Union.

The mannequin, launched this 12 months by Spain and Portugal, is a state assist programme that partially covers the excessive worth of gasoline used to provide electrical energy.

The subsidy is given to gas-fired energy vegetation and compensates for the distinction between the true market worth and the capped worth. This ends in decrease payments for shoppers and corporations.

The European Fee believes making use of this technique to the entire EU would result in €13 billion in internet advantages however warns of great hurdles and “political challenges” to make it occur.

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Underneath the subsidy, gasoline demand may improve between 5 and 9 billion cubic metres (bcm), the Fee mentioned in its newest non-paper.

Low-cost electrical energy may leak exterior the EU and enter the UK and Switzerland, two international locations deeply interconnected with their neighbours.

As a state assist programme, the Iberian exception is poised to ivolve excessive prices for international locations that rely very closely on gas-fired energy vegetation, corresponding to Germany, the Netherlands and Italy.

Japanese, Nordic and Baltic international locations may also take pleasure in fewer advantages from the measure, given their disparate power mixes. In the meantime, France could be the “largest internet beneficiary,” the chief estimated.

Moreover, an EU-wide subsidy programme would require the creation of a brand new system to redistribute prices among the many international locations in accordance with the advantages it gives.

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“It is as much as member states if they are going to discover a answer, particularly on how you can tackle flows to 3rd international locations or how you can agree on the cost-sharing rules,” Commissioner Simson mentioned, in response to a query from Euronews.

Nonetheless, given the myriad of obstacles introduced within the non-paper, it is nonetheless unclear when the chief will be capable of desk a legislative proposal.

The textual content, if ever unveiled, is anticipated to be topic to intense and extended negotiations among the many 27 states.

Within the non-paper, the Fee gives an alternate avenue: a brand new sort of long-term contract that will apply solely to renewables and nuclear vegetation in an effort to forestall the contagion impact from gasoline costs.

These so-called “contracts for distinction” are already getting used within the UK to deal with the power disaster.

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Cartier owner Richemont posts 10% increase in Q3 sales

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Cartier owner Richemont posts 10% increase in Q3 sales
Cartier jewellery owner Richemont on Thursday reported a 10% increase in constant currency sales during the three months to the end of December, a strong early indicator for the performance of European luxury companies over the all-important holiday season.
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Ancient Pompeii excavation uncovers lavish private bath complex

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Ancient Pompeii excavation uncovers lavish private bath complex

Archaeologists have unearthed a lavish private bath complex in Pompeii, highlighting the wealth and grandeur of the ancient Roman city before it was destroyed by Mount Vesuvius in AD 79, the site said on Friday.

The baths, featuring hot, warm and cold rooms, could host up to 30 guests, allowing them to relax before heading into an adjacent, black-walled banquet hall, decorated with scenes from Greek mythology.

ITALY’S ANCIENT POMPEII PARK CRACKS DOWN ON DAILY VISITORS TO COMBAT OVERTOURISM

The pleasure complex lies inside a grand residence that has been uncovered over the last two years during excavations that have revealed the opulent city’s multifaceted social life before Vesuvius buried it under a thick, suffocating blanket of ash.

A central courtyard with a large basin adds to the splendour of the house, which is believed to have been owned by a member of Pompeii’s elite in its final years.

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“This discovery underscores how Roman houses were more than private residences, they were stages for public life and self-promotion,” said Gabriel Zuchtriegel, director of the Pompeii Archaeological Park.

The private thermal baths complex discovered by archaeologists in a villa of the ancient city of Pompeii is seen in Pompeii, Italy, in this undated handout picture released on January 17, 2025.  (Pompeii Archeological Park/Ministry of Cultural Heritage and Activities and Tourism/Handout via REUTERS )

Zuchtriegel said the layout recalled scenes from the Roman novel “The Satyricon”, where banquets and baths were central to displays of wealth and status.

Decorated with frescoes, the complex draws inspiration from Greek culture, emphasizing themes of leisure and erudition.

“The homeowner sought to create a spectacle, transforming their home into a Greek-style palace and gymnasium,” Zuchtriegel said.

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The remains of more than 1,000 victims have been found during excavations in Pompeii, including two bodies inside the private residence with the bathhouse – a woman, aged between 35-50, who was clutching jewellery and coins, and a younger man.

The discovery of their bodies was announced last year.

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‘Fields were solitary’: Migration raids send chill across rural California

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‘Fields were solitary’: Migration raids send chill across rural California

Los Angeles, California — Recent raids carried out by the United States Customs and Border Protection (CBP) in a rural California county have struck fear into immigrant communities as President-elect Donald Trump prepares to return to the White House.

CBP says that the operation in Kern County, which took place over three days in early January, resulted in the detention of 78 people. The United Farm Workers (UFW) union says it believes the number is closer to 200.

“The fields were almost solitary the day after the raids,” a 38-year-old undocumented farmworker named Alejanda, who declined to give her last name, said of the aftermath.

She explained that many workers stayed home out of fear. “This time of year, the orchards are usually full of people, but it felt like I was by myself when I returned to work.”

The raids are being seen by local labourers and organisations like UFW as a shot across the bow from immigration enforcement agencies before Trump’s inauguration on Monday.

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His second term as president is expected to ring in a new era of enhanced restrictions and deportation efforts.

While the number of people arrested represents a small fraction of the hundreds of thousands of undocumented workers underpinning California’s agricultural sector, the anxieties caused by such raids extend far beyond those detained.

“On Wednesday [the day after the raids], I stayed home from work. I barely left my house,” said Alejanda, adding that she kept her five-year-old son home from daycare rather than risk driving to drop him off.

“Everyone is talking about what happened. Everyone is afraid, including me. I didn’t actually see any of the agents myself, but you still feel the tension.”

Emboldened agencies

Following a presidential campaign where he routinely depicted undocumented migrants as “criminals” and “animals”, Trump will likely try to fulfill his promise to carry out the “largest deportation programme” in the country’s history on his first day in office.

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About 11 million people live in the United States without legal documentation, some of whom have worked in the country for decades, building families and communities.

The January arrests in Kern County appear to be the first large-scale Border Patrol raid in California since Trump’s victory in the November election, which set off speculation about the potential impact of mass deportations on immigrant communities and the economic sectors dependent on their labour.

About 50 percent of California’s agricultural workforce is made up of undocumented immigrants.

In California, undocumented status has been cited as a source of persistent anxiety for workers — as well as a means of leverage for employers, who often pay such labourers lower wages and grant them fewer protections in the fields.

But Alejanda says that workplace raids like the ones that took place in Kern County have not been common in the area.

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“I have been here for five years and never experienced anything like this before,” she said, noting that workers were detained while leaving the fields to go home.

CBP said in a statement that the operation, named “Return to Sender”, had targeted undocumented people with criminal backgrounds and connections to criminal organisations.

The raids were carried out by agents from the CBP El Centro Sector, located near the border between Mexico and southern California, more than five hours by car from the site of the raids.

“The El Centro Sector takes all border threats seriously,” Chief Patrol Agent Gregory Bovino said in a press release. “Our area of responsibility stretches from the US/Mexico Border, north, as mission and threat dictate, all the way to the Oregon line.”

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Antonio De Loera-Brust, a spokesperson for UFW, said that the operation shows that agencies like CBP are likely to become more aggressive as Trump takes office.

He also disputed CBP’s characterisation of the raids as focused on people with criminal records, saying that the operation cast a wide net and profiled people who looked like farmworkers.

Two of those arrested were UFW members, whom the organisation described as fathers who had lived in the area for more than 15 years.

“By operating over 300 miles north of the Mexican border, and apparently conducting this untargeted sweep based on profiling on their own initiative and authority, Border Patrol has shown itself to be clearly emboldened by a national political climate of hostility towards hard-working immigrant communities,” De Loera-Brust told Al Jazeera.

“It’s certainly deeply concerning that this sort of operation could be the new normal under the incoming Trump administration.”

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