The European Union's gas-storage levels are on the brink of hitting their pre-winter target more than two months early, a boost for the bloc's economy after energy ties with Russia were all but severed last year following the invasion of Ukraine.
The latest numbers mean EU storage facilities could soon fill their capacity of roughly 100 billion cubic meters, covering around 25% to 30% of the gas consumed in the EU during the winter, according to the bloc's data. However, the energy-security situation in Europe remains fragile and dependent on fluctuations in liquefied natural gas imports, which can be uncertain.
'Barbie' Rolls Out in Saudi Arabia With Pink Abayas, Slushies and Éclairs, but Gets Banned in Other Muslim Countries
JEDDAH, Saudi Arabia-"Barbie," Greta Gerwig's blockbuster rom-com about a doll that becomes a human and enters the real world, is facing its own real-world problems: censor boards in parts of the Muslim world.
Kuwaiti authorities banned the movie for promoting "ideas and beliefs that are alien to Kuwaiti society and public order," according to a statement from an official state news agency. Algeria's Culture Ministry sent notices to theaters in the country to stop screening the film, declaring that it was "damaging morals," according to local news reports.
Cargo Ship Defies Renewed Russian Blockade to Sail Out of Ukraine's Odesa
ISTANBUL-A cargo ship became the first civilian vessel to safely travel from Odesa to the southern Black Sea, defying a Russian blockade of Ukraine's largest ports and setting a possible precedent for future shipments.
The Joseph Schulte crossed safely into the Black Sea waters of NATO member Bulgaria on Thursday, according to ship-tracking data. Ukrainian officials said the voyage is a step toward restoring a shipping lane to and from Odesa, which is critical to world food supplies.
China Evergrande Seeks U.S. Court Approval for $19 Billion Debt Restructuring
China Evergrande Group is seeking a U.S. court's approval to restructure more than $19 billion in the company's offshore debts, as the embattled property developer pushes forward on plans to complete one of the world's largest and most complex debt restructurings.
China Evergrande, the world's most indebted property developer, on Thursday filed for chapter 15 bankruptcy in New York, which would recognize and give effect to the offshore proceedings for three Evergrande companies based in Hong Kong, the British Virgin Islands, and the Cayman Islands, respectively.
Outback Steakhouse Owner Draws Activist Investor
Starboard Value, whose victory in a proxy fight with Darden Restaurants nearly a decade ago is the stuff of Wall Street legend, has another restaurant chain in its sights: Outback Steakhouse owner Bloomin' Brands.
Starboard has built a stake of more than 5% in Bloomin' Brands, making it one of the company's top-five shareholders, according to people familiar with the matter.
Applied Materials Beats Forecasts for Earnings. The Stock Is Up.
Applied Materials reported better than expected earnings for the July quarter, sending the stock higher in after-hours trading.
The chip equipment maker reported adjusted earnings of $1.90 a share for the July quarter, compared with the consensus estimate of $1.74 among Wall Street analysts tracked by FactSet. Revenue came in at $6.43 billion, above analysts' expectations of $6.15 billion.
A Rare Look Into the Finances of Elon Musk's Secretive SpaceX
SpaceX's soaring revenue helped it eke out a small profit in the first three months of the year after two annual losses, according to documents that offer a rare view into the financials of Elon Musk's rocket company.
The privately held company generated $55 million in profit on $1.5 billion in revenue during the first quarter of 2023, according to results in documents viewed by The Wall Street Journal. The slim earnings came after two years of significant but narrowing losses at SpaceX, which is pouring money into a rocket that remains unproven and poses difficult technical challenges.
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Expected Major Events for Friday
06:00/SWE: 2Q Industrial capacity utilization
06:00/UK: Jul UK monthly retail sales figures
06:30/SWI: 2Q Industrial Production
07:00/SVK: Jul Harmonized CPI
07:00/AUT: Jul CPI
08:00/BUL: 2Q Labour force survey
09:00/CYP: Jul Harmonised CPI
09:00/EU: Jul Harmonised CPI
09:00/MLT: Jul Harmonised CPI
09:00/EU: Jun Construction output
10:00/POR: Jul PPI
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(END) Dow Jones Newswires
08-18-23 0015ET