FT News Briefing The ECB readies for rate cuts
May 27, 2024
The European Central Bank is poised to cut interest rates, signaling a shift in monetary policy. Meanwhile, Chevron faces hurdles in its $53 billion bid for Hess due to tensions over offshore claims. Thames Water's pollution crisis is alarming, with over 14 billion liters of sewage released into the Thames last year. On another front, the nuclear industry is wrestling with an aging workforce, desperately aiming to attract retired engineers back to meet rising energy demands and combat climate change.
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ECB Rate Cuts
- The European Central Bank (ECB) may cut interest rates as soon as June 6, 2024.
- Wage growth pressures could limit the extent of cuts.
Chevron-Hess Deal Drama
- Chevron's takeover bid for Hess faces complications due to a dispute with ExxonMobil over an oil field in Guyana.
- ExxonMobil claims right of first refusal, leading to an arbitration process.
Thames Water Sewage Discharge
- Thames Water discharged over 14 billion liters of sewage into the River Thames in 2023.
- This has sparked public and political backlash, becoming a key issue in the upcoming general election.