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Europe’s gas prices fall below €100 MWh for the first time since June

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Europe’s gas prices fall below €100 MWh for the first time since June

Europe’s fuel costs have fallen under €100 per megawatt-hour for the primary time since mid-June, as gentle autumn climate tame demand and storage amenities attain near-total capability.

On the finish of Monday, the Dutch Title Switch Facility (TTF), Europe’s main buying and selling hub, futures contract for November closed at €99.17 per megawatt-hour (MWh).

Tuesday morning confirmed an analogous development, with costs hovering round €95 MWh.

Whereas costs stay exceptionally excessive, the information gives some reduction for customers beneath monetary stress.

Wholesale costs instantly influence the retail worth that households and firms pay each month. These closing payments additionally comprise additional prices associated to community upkeep, taxes and operational charges.

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The final time fuel costs fell under the €100 MWh mark was mid-June.

Costs then rose at a pronounced charge as governments rushed to fill underground fuel storage and Russia’s manipulation of provides fuelled hypothesis.

The TTF broke all-time data when it reached €349 MWh in late August.

After that, costs started to lower progressively.

The EU’s common storage capability is now at 93%, which implies governments don’t want to purchase as a lot backup fuel as they did in earlier months.

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On the similar time, industrial manufacturing and shopper consumption are being constrained by excessive power payments, resulting in a dip in demand and a consequent fall in costs.

It is unclear how lengthy the drop in fuel costs will final.

EU officers concern a colder-than-usual winter will stoke demand for electrical energy and heating, push costs to unsustainable highs and irritate the financial recession.

Futures contracts for the upcoming months confirmed costs properly above the €100 MWh threshold.

The power disaster stays excessive on the EU’s agenda.

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Final week, the difficulty of worth caps took centre stage on the European Council in Brussels.

On the finish of the assembly, leaders gave the European Fee the go-ahead to place ahead a mechanism to curb excessive circumstances of hypothesis and volatility on the TTF.

Nevertheless, this instrument is not going to be a broad worth cap, as some EU nations have demanded, and can as a substitute act as an emergency ceiling.

“The time has come,” stated European Fee President Ursula von der Leyen. “You will need to transfer with a transparent sign that we’re keen to be dependable companions available on the market however not at any worth anymore.”

In parallel, the Fee is engaged on a separate, distinct buying and selling hub just for liquefied pure fuel (LNG). The manager argues the TTF is overly influenced by the ups and downs of pipeline fuel flows.

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Jay-Z’s Accuser Can Remain Anonymous, Judge Criticizes His Lawyer’s ‘Relentless’ Filings

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Jay-Z’s Accuser Can Remain Anonymous, Judge Criticizes His Lawyer’s ‘Relentless’ Filings

The woman accusing Jay-Z and Sean “Diddy” Combs of sexually assaulting her when she was 13 can proceed anonymously (“at least for now”) in her lawsuit against the rappers, a judge ruled Thursday.

New York Judge Analisa Torres also condemned the legal team representing Jay-Z (real name Shawn Carter) for the “relentless filing of combative motions containing inflammatory language and ad hominem attacks [on accuser’s lawyer, Tony Buzbee],” according to a court order obtained by Variety. “Since Carter’s attorney first appeared in this case seventeen days ago, he has submitted a litany of letters and motions attempting to impugn the character of Plaintiff’s lawyer [Buzbee].”

Judge Torres continues, calling the complaints “inappropriate, a waste of judicial resources, and a tactic unlikely to benefit his client [Jay-Z].”

Jane Doe, who filed her original lawsuit against Combs in October, and re-filed it with Carter’s name in early December, will remain anonymous at this early stage of the litigation. She could still be required by the court to reveal her identity.

Alex Spiro, a lawyer for Carter, recently asked the judge to dismiss the entertainer from the woman’s lawsuit. He cited a report from NBC News that revealed the accuser had admitted to some “inconsistencies and outright impossibilities” in her allegations. His team has also issued public statements referring to Buzbee as a “1-800 lawyer” who is “in the pursuit of money and fame.”

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Judge Torres denied Carter’s request to dismiss the case. Representatives for Carter did not immediately respond to Variety‘s request for comment.

In the last few weeks, Buzbee issued his own lawsuit against Roc Nation, the entertainment company owned by Carter, claiming they are using “shadowy operatives” to bribe his former clients into filing “frivolous” complaints against him. Carter has also sued Buzbee for defamation.

Jane Doe, who alleges she was 13 when Combs and Carter raped her in 2000, says she encountered the pair at an afterparty for the MTV Music Video Awards.

Carter responded to the allegation almost immediately. “You have made a terrible error in judgment thinking that all ‘celebrities’ are the same,” Carter wrote in a letter addressing Buzbee. “I’m not from your moral world. I’m a young man who made it out of the project of Brooklyn. We don’t play these types of games. We have very strict codes and honor. We protect children, you seem to exploit people for personal gain. Only your network of conspiracy theorists, fake physics, will believe the idiotic claims you have levied against me that, if not for the seriousness surrounding harm to kids, would be laughable.”

Combs has been held in a Brooklyn jail since September. He will remain there until his trial is scheduled to begin in May.

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China unveils world's largest amphibious warship

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China unveils world's largest amphibious warship

China has launched the first of its new line of amphibious assault ships and its biggest warship yet, strengthening what is already the world’s largest navy.

The Sichuan, a type 076 new-generation amphibious assault ship, was put into the water at a launch and naming ceremony on Friday. 

With a full load displacement of 40,000 tons, the warship ranks among the world’s largest amphibious assault ships, featuring a dual-island superstructure and full-length flight deck, the People’s Liberation Army Navy (PLAN) said in a statement.

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A launching ceremony is held to unveil China’s first Type 076 new-generation amphibious assault ship, the Sichuan, at Hudong-Zhonghua Shipbuilding, a Shanghai-based subsidiary of China State Shipbuilding Corp, on December 27, 2024, in Shanghai, China. (Pu Haiyang/VCG via Getty Images)

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China Bugle, an news outlet associated with the PLAN’s news media center, reported the ship will play a key role in transforming and developing the Chinese navy and enhancing its combat capabilities in the far seas. 

The Sichuan is capable of launching fighter jets and unmanned drones from an electromagnetic catapult. It is designed to carry ground troops in landing craft with air support. 

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China Launches First Type 076 Amphibious Assault Ship

Named after southwest China’s Sichuan Province, the independently-developed new vessel was put into the water at a launch and naming ceremony. (Pu Haiyang/VCG via Getty Images)

The ship also features “arrester technology” that Chinese researchers boast will allow fighter jets to land on its deck, similar to an aircraft carrier.

China launched its first amphibious assault ship, a type 075 class warship called the Hainan, in 2019.

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Launch ceremony for the Sichuan

Chinese military officials celebrate at the launch ceremony for the Sichuan.  (Pu Haiyang/VCG via Getty Images)

The PLANmi has been working on modernizing its forces for more than a decade, with the aim of being able to operate globally rather than being restricted to waters near the Chinese mainland. China first managed to launch fighter jets with the new electromagnetic technology on its homemade aircraft carrier, the Fujian, which launched two years ago.

The Sichuan will now undergo additional tests at sea. 

China has the largest navy in the world and is consistently trying to upgrade its fleet. Recently, researchers found that the country is working on designing a nuclear-powered aircraft carrier, which would allow it to deploy its ships in distant waters without needing a base to refuel.

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The U.S. Navy currently has 11 nuclear-powered aircraft carriers deployed in strategic locations globally, including in the Asia-Pacific.

The Associated Press contributed to this report.

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Health worker displaced by Israeli attacks in Gaza dies of ‘extreme cold’

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Health worker displaced by Israeli attacks in Gaza dies of ‘extreme cold’

Many people in Gaza lack adequate shelter and are malnourished after more than a year of Israeli attacks and blockades.

A Palestinian healthcare worker has died due to “extreme” weather conditions, according to a statement by the enclave’s Ministry of Health, as severe cold compounds the hardship faced by people displaced by Israel’s relentless attacks.

The body of Al-Hakim Ahmed al-Zaharneh, who worked at the European Gaza Hospital, was found inside his tent in al-Mawasi area, west of the city of Khan Younis, southern Gaza, the ministry said on Friday.

“This incident comes in light of the difficult humanitarian conditions that displaced citizens are experiencing, as the suffering of Gaza residents increases due to low temperatures and the lack of heating means in tents,” the ministry said.

The ministry said earlier that four Palestinian babies have died in tents in recent days amid the cold weather and widespread malnutrition.

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Al Jazeera’s Hani Mahmoud, reporting from Deir el-Balah in central Gaza, said that the number of casualties in vulnerable groups is increasing due to worsening weather conditions.

“For 14 months now, people here have been lacking basic necessities to help them survive these difficult conditions – even in summer,” he said.

“Now in winter, the temperature has dropped very low, [and] people in tent camps feel the cold as being [colder] than the actual levels.”

He said that mothers often lack the strength or ability to breastfeed as they are malnourished and unwell.

“The conditions are worse for vulnerable groups like babies and, in the absence of [humanitarian aid], it is natural that deaths will happen.”

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The vast majority of the Gaza Strip’s 2.4 million residents have been displaced at least once since war broke out with the Palestinian group Hamas on October 7, 2023, with many people living in tents that offer little protection from the cold, rain and flooding.

The United Nations and other organisations have repeatedly decried the worsening humanitarian conditions in Gaza, as Israeli attacks and blockades severely curtail access to food, water, medicine and other supplies.

A leading United States government organisation monitoring food crises around the world withdrew a new report this week warning of imminent famine in north Gaza under what it called Israel’s “near-total blockade,” after the US asked for its retraction, US officials told The Associated Press.

The move follows public criticism of the report from the US ambassador to Israel.

The report by the Famine Early Warning Systems Network (FEWS NET) had warned that a “famine scenario” was unfolding in northern Gaza where Israel launched a renewed offensive in early October.

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Meanwhile, on Friday, the director of Gaza’s Health Ministry told Al Jazeera that Israeli forces stormed the Kamal Adwan Hospital, one of the few remaining medical facilities in north Gaza, and forced the 350 people there to evacuate, including all the patients and staff. He said contact with the hospital had been lost.

Israel’s war in Gaza has killed at least 45,436 Palestinians and wounded 108,038 since October 7, 2023, according to figures released on Friday by Gaza’s Health Ministry.

An estimated 1,139 people were killed in Israel during the Hamas-led attacks that day and more than 200 were taken captive.

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