A manhole, grilles on a sidewalk and two pipes coming out of the fridges of a Migros store. These are the only external signs of a heating network, known as “anergy”, of a new building in Saxon (VS). This closed circuit forms an underground loop 240 meters long. It draws its heat, around twenty degrees, from the ground, an underground car park, Migros fridges and it supplies four heat pumps. Enough to heat, or cool in summer, the ten shops and the 72 apartments in the building.
Daily Archives
June 14, 2022
The adage that “unhappiness often does not come alone” is coming true. In a context of general shortage, the world might not only miss wheat exports from Ukraine this year, but also without those from Russia. Even the possible absence of the Ukrainian harvest is anything but insignificant, as it will probably amount to around ten million tonnes this year, which are mainly available for export, the absence of Russian wheat on the international market might make serious damage to global consumption.
The period of decline of the war between Russia and Ukraine being far, the economic consequences will be prolonged bringing a hard blow on the market of the consumption of wheat in the world, without counting the fuel, which him also causes increases worrying and even panics the various stock exchanges. Russia’s position is all the more important as it is the largest wheat exporter in the world ahead of the countries of the European Union. For the current year, the US Department of Agriculture estimates that a wheat crop of regarding 33 million tons will be harvested from Russian fields.
Read also: Cereals: Morocco targets 25 sources of supply
However, Russian cereal producers expect an increase in production. They estimate that an export volume of 35 million tonnes will be available. One can nevertheless wonder whether this quantity of wheat of this magnitude will actually be exported at the end.
Kremlin adds another turn of the screw
Although Russian wheat supplies are not yet subject to direct Western sanctions, they are still indirectly affected by the sanctions, as payment for the supply would have to be handled by Russian banks, which are currently excluded from the SWIFT system.
Even more serious, however, is the fact that Russia itself introduced an export tax some time ago. This is a Kremlin strategy to better control the price at home. As if that weren’t enough, Russia also imposed an export ban on wheat, barley, rye, corn and mixed grains this year. This new Moscow provision is valid until June 30, 2022 and concerns the countries of the Eurasian Economic Union, namely Armenia, Kazakhstan, Kyrgyzstan and Belarus. Previously, these countries had not been affected by the export tax and export quotas. The fact that these countries now have to live with these new Russian restrictions is already to be expected from further Russian measures on exports to the rest of the world.
Recession anxiety pushes Wall Street into a downward spiral… and a strong rise in producer prices
written by Alexandra Hartman Editor-in-Chief
Stocks recorded a decline on Tuesday, affected by concerns regarding the decisions of the US Federal Reserve on Wednesday, which is expected to raise interest rates and intervene violently, perhaps by 75 points, in order to curb inflation.
Wall Street’s major indices failed to maintain the rise they started in Tuesday’s session, a day following global indices declined due to fears that the markets would enter a recession as a result of inflation, while investors were relieved by a less-than-expected rise in core producer prices.
Producer Prices
US producer prices rose strongly in May amid a jump in the cost of energy products, indicating that inflation may remain elevated for some time. The US Labor Department said Tuesday that the producer price index for final demand rose 0.8% last month following rising 0.4% in April, and over the twelve months to the end of May, the producer price index jumped 10.8% following a 10.9% increase in April. / April, and economists polled by Archyde.com had expected the producer price index to rise 0.8% in May and jump 10.9% on an annual basis, and government data showed a significant increase in consumer prices in May, which raised fears that inflation in The world’s largest economy is likely to become entrenched.
Monday trades
US stocks tumbled Monday and the Standard & Poor’s 500 index confirmed that it is in a bear market, with growing fears that expected active interest rate increases from the Federal Reserve will push the economy into a recession.
Standard & Poor’s has fallen for four consecutive sessions, now down more than 20 percent from its latest record closing high on Jan. 3.
And closed all the major sectors in Standard & Poor’s with sharp losses.
Markets are under pressure this year as prices rise, including a jump in oil prices partly due to the war in Ukraine, which puts the Federal Reserve on course to take aggressive monetary tightening action.
The Federal Reserve is due to release its next monetary policy announcement on Wednesday and investors will focus on any indications of how far the Fed will go to raise interest rates.
Major technology companies, such as Apple, Microsoft and Amazon.com, were among the biggest losers on the Standard & Poor’s 500 Index, with the benchmark 10-year US Treasury yield hitting its highest level since April 2011 at 3.44 percent. Growth stocks are more likely to see their earnings suffer in a high interest rate environment.
The Standard & Poor’s 500 closed down 149.91 points, or 3.85 percent, to 3750.95 points, while the Nasdaq Composite Index fell 526.82 points, or 4.65 percent, to close at 10,813.20 points. The Dow Jones Industrial Average ended the trading session on Wall Street, down 857.70 points, or 2.73 percent, to 30,535.09 points.
Stan Wawrinka has obtained one of eight wild cards for the Wimbledon tournament which begins Monday in a week. The 37-year-old Vaudois will not need to resort to his protected classification.
After his long break due to injury, Wawrinka is currently only number 290 in the ATP rankings. Wimbledon is the only Grand Slam tournament that the Vaudois has not won. His best results on the London turf were quarter-finals in 2014 and 2015.
Among the women, Serena Williams also received a wildcard. The 40-year-old American has not played a match on the WTA Tour since her elimination in the first round a year ago at Wimbledon.
/ATS