Colonial Pipeline crawls towards operational normalcy, outage causes panic buying

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Colonial Pipeline, the top US fuel pipeline disabled by a cyberattack for six days, sent workers to manually release some stored supplies on Wednesday as fuel shortages across the Southeast worsened and motorists fumed, Reuters reported. Gas stations from Florida to Virginia began running dry and prices at the pump rose on Tuesday, as the […]

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IKEA makes first solar investment in Russia

Ingka Group, the owner of most IKEA stores worldwide, agreed to buy a 49-percent stake in eight solar parks in Russia from Solar Systems LLC, marking its first investment in renewable energy in the country, according to a Reuters report.  The total book value for the eight parks is more than 21 billion roubles ($272.16 million), […]

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IGC raises forecast for 2020-21 global wheat production

The International Grains Council (IGC) on Thursday raised its forecast for global wheat production in the 2020-21 season, partly reflecting upward revisions for crops in Australia, Kazakhstan, and Russia. In its monthly update, the inter-governmental body increased its global wheat crop forecast by 5 million tonnes to 790 million tonnes, up by 2 per cent […]

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India’s steel industry needs sustained government intervention: Kearney

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Targeting India’s high cost of finance, global consultancy firm Kearney, formerly A T Kearney, has prescribed a deeper and sustained government participation for India to create a globally competitive steel industry. “India’s higher cost of financing makes it difficult for domestic players to operate capacity expansion plans. The industry needs a financial stimulus and should […]

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International Grains Council cuts its forecast for 2020/21 global grains production

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The International Grains Council (IGC) cut its forecast for a record global grains production by 9 million tonnes to 2.21 billion tonnes in 2020/21. The council also trimmed its projection for consumption during the season. In its monthly update, the inter-governmental body cut its forecast for corn (maize) by 13 million tonnes, partially offset by […]

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