Britain's grid operator, Neso, is expected to pay millions to secure extra electricity on Wednesday evening due to extreme heat straining the energy system. High demand from air conditioning and low wind generation prompted the payment to avoid a rare summer power supply crunch.
The Lee Jae Myung administration's potential tightening of real estate taxes may not address South Korea's housing shortage, as supply continues to dwindle despite tax overhaul plans.
UK Foreign Secretary Yvette Cooper warns of a global food crisis due to frozen fertiliser shipments via the Strait of Hormuz due to the war in Iran. She urges immediate action to free up supplies, highlighting impacts on developing nations and the need for global partnerships.
SMIC and Hua Hong Semiconductor anticipate increased Q2 sales driven by AI demand and memory supply shortages, despite US export controls, with potential easing hoped from Xi-Trump meetings.
Samsung Electronics and SK Hynix, South Korea’s two memory chip giants, are warning of a prolonged and severe global supply crunch, weeks after the two companies disclosed increased investments in their China wafer fabs to meet surging artificial intelligence demand. During Samsung’s first-quarter earnings call on Thursday, the company said its order fulfilment rate had plunged to a “record low”. In a rare move, customers worried about shortages were already pre-booking memory capacity for 2027,...
China has agreed to cooperate with Australian businesses on jet fuel shipments, reaffirming multilateralism in a meeting between top diplomats. Canberra seeks to bolster fuel resilience after Beijing curtailed exports to protect domestic supplies, marking a thaw in bilateral relations after years of diplomatic freeze.
Diet Coke is facing severe stock-outs in major Indian cities due to an aluminium can shortage exacerbated by Middle East supply chain disruptions. Beverage companies are struggling to meet surging demand for sugar-free drinks during the peak summer season.
“What is voluntary today could become compulsory,” bloc's transport commissioner warns, while denying supply crunch exists.
The US argues that the waiver is meant to ease the energy supply crunch sparked by the US-Israel war with Iran.
